Alamos Gold Inc. (AGI) 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

-121.8%

-$6.11

vs $28.10 price

Levered DCF

$9.89

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

4.82

Safe zone

Rating

A-

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	18.37×	26.34×	25.42×	106.87×	-45.24×	23.65×	24.08×	-18.95×
P/B	3.66×	2.1×	1.82×	1.46×	1.1×	1.2×	0.87×	0.53×
P/S	8.95×	5.59×	5.21×	4.83×	3.67×	4.58×	3.44×	2.11×
EV / EBITDA	13.34×	10.18×	10.33×	13.72×	16.02×	8.53×	7.31×	8.93×
Gross margin	54.3%	44.2%	37.7%	25.9%	35.2%	36.4%	23.7%	1.9%
Operating margin	44.5%	41.7%	31.1%	13.6%	1.8%	30.4%	18.4%	-3.5%
Net margin	49.1%	21.1%	20.5%	4.5%	-8.1%	19.3%	14.1%	-11.1%
Current ratio	1.72×	1.51×	2.36×	2.42×	2.92×	3.22×	3.1×	2.88×
Debt / equity	0.05×	0.08×	0×	0×	0×	0×	0×	0×
Interest coverage	2,034.79×	78.7×	30.88×	19.56×	3.31×	52.93×	50.4×	-7.53×
Dividend yield	0.2%	0.5%	0.7%	0.9%	1.1%	0.7%	0.7%	0.6%
Payout ratio	4.5%	12.3%	16.8%	94.6%	-51.7%	16.6%	16.2%	-10.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	20.0%	7.9%	7.2%	1.4%	-2.4%	5.1%	3.6%	-2.8%
Return on invested capital	11.3%	6.5%	6.1%	1.2%	-12.5%	4.3%	2.9%	-0.7%
Return on assets	14.0%	5.3%	5.2%	1.0%	-1.8%	4.0%	2.8%	-2.2%
Free cash flow yield	1.7%	3.1%	2.3%	-0.4%	-0.3%	2.0%	-0.1%	-0.6%
Earnings yield	5.5%	3.8%	3.9%	0.9%	-2.2%	4.2%	4.1%	-5.3%
Enterprise value	$15.8B	$7.5B	$5.1B	$3.8B	$2.8B	$3.2B	$2.2B	$1.2B
Net debt / EBITDA	-0.33×	-0.06×	-0.45×	-0.46×	-0.97×	-0.58×	-0.61×	-1.55×
Cash conversion cycle (days)	-4	33	78	68	60	41	28	0