Barrick Mining Corporation (ABX.TO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-66.4%

CA$17.83

vs CA$53.10 price

Levered DCF

CA$36.60

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

3.67

Safe zone

Rating

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	14.61×	12.7×	25.07×	74.44×	16.68×	17.37×	8.03×	-10.23×
P/B	2.8×	1.12×	1.36×	1.33×	1.42×	1.73×	1.52×	2.08×
P/S	4.38×	2.1×	2.78×	2.75×	2.82×	3.21×	3.36×	2.18×
EV / EBITDA	7.37×	4.27×	6.5×	6.1×	5.33×	5.7×	7.07×	7.5×
Gross margin	51.3%	38.4%	30.4%	31.5%	40.7%	41.1%	29.4%	30.3%
Operating margin	47.8%	34.5%	26.1%	26.9%	37.0%	37.3%	24.4%	22.7%
Net margin	29.4%	16.6%	11.2%	3.9%	16.9%	18.5%	40.8%	-21.3%
Current ratio	2.92×	2.89×	3.16×	2.71×	3.95×	3.67×	2.9×	2.38×
Debt / equity	0.18×	0.22×	0.22×	0.23×	0.23×	0.23×	0.26×	0.76×
Interest coverage	22.63×	10.53×	8.51×	8.68×	12.82×	13.11×	5.34×	3.68×
Dividend yield	1.2%	2.6%	2.2%	3.8%	1.9%	1.4%	1.7%	0.8%
Payout ratio	18.1%	32.5%	55.0%	264.6%	31.1%	23.5%	14.1%	-8.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	18.8%	8.8%	5.4%	1.9%	8.5%	10.0%	18.5%	-20.3%
Return on invested capital	13.7%	6.6%	4.8%	4.2%	7.0%	7.7%	4.0%	7.8%
Return on assets	9.7%	4.5%	2.8%	0.9%	4.3%	5.0%	8.9%	-6.8%
Free cash flow yield	5.6%	4.9%	2.0%	1.4%	5.7%	8.3%	3.5%	2.3%
Earnings yield	6.7%	7.9%	4.0%	1.4%	6.0%	5.7%	12.2%	-9.8%
Enterprise value	CA$72.4B	CA$28.3B	CA$32.8B	CA$31.1B	CA$34B	CA$40.6B	CA$34.8B	CA$19.9B
Net debt / EBITDA	-0.2×	0.18×	0.21×	0.16×	0.03×	0.02×	0.45×	1.57×
Cash conversion cycle (days)	87	65	88	80	90	54	109	102