Seabridge Gold Inc. (SA) vs Silver Standard Resources Inc. (SSRM)

Seabridge Gold Inc. and Silver Standard Resources Inc. are both Gold companies. Silver Standard Resources Inc. is the larger, with a market value of $5.6B against $2.8B — 2.0× the size. Seabridge Gold Inc. has negative trailing earnings, so its P/E is not meaningful; Silver Standard Resources Inc. trades at 22.8×. Silver Standard Resources Inc. has the higher net margin (12.6% vs 0.00%) and the higher return on invested capital (25.6% vs −0.91%). Across the 14 metrics below, Silver Standard Resources Inc. leads on 13 and Seabridge Gold Inc. on 1.

Valuation

Metric SA SSRM Gold median
P/E n/m 22.78 17.98
P/S n/m 2.86 3.83
P/B 3.14 1.74 2.42
Price to free cash flow n/m 19.20 15.50
EV/EBITDA n/m 5.46 6.72
EV/Sales n/m 2.19 3.73
Earnings yield (1.88%) 4.39% 1.19%
Free cash flow yield (4.26%) 5.21% 0.81%

Profitability

Metric SA SSRM Gold median
Gross margin — 62.71% 49.13%
Operating margin 0.00% 33.88% 21.90%
Net margin 0.00% 12.64% 9.65%
Free cash flow margin 0.00% 14.89% 0.00%
Return on equity (6.40%) 6.80% 0.12%
Return on assets (4.15%) 4.95% 0.10%
Return on invested capital (0.91%) 25.61% 0.26%

Growth

Metric SA SSRM Gold median
Revenue growth (TTM) — 39.40% 68.15%
EPS growth (last fiscal year) (46.15%) 243.41% 60.15%
Revenue growth, 5-year CAGR — 13.82% 15.33%
Net income growth, 5-year CAGR 0.00% 21.17% 0.00%

Health

Metric SA SSRM Gold median
Debt to equity 0.46 0.00 0.03
Current ratio 6.71 7.53 3.34
Net debt to EBITDA (21.47) (0.36) (0.15)

Dividend

Metric SA SSRM Gold median
Dividend yield — 0.11% 0.79%
Payout ratio — 0.03 0.15

Size

Metric SA SSRM Gold median
Market cap 2.75b 5.57b 1.12b

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