Aris Mining Corporation (ARIS.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

-187.3%

-CA$17.87

vs CA$20.47 price

Levered DCF

-CA$3.74

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.92

Grey zone

Rating

B+

Overall 3 / 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	38.59×	23.35×	39.55×	-61.78×	1.87×	-82.47×	-1.62×	-21.22×
P/B	2.12×	0.66×	0.72×	0.58×	0.84×	2.39×	1.8×	0.29×
P/S	3.24×	1.04×	1.01×	0.72×	1.05×	0.98×	0.68×	0.28×
EV / EBITDA	10.39×	5.25×	4.17×	2.49×	2.32×	2.19×	-6.8×	1.11×
Gross margin	46.4%	38.4%	41.5%	51.0%	51.9%	51.3%	43.7%	34.5%
Operating margin	39.7%	23.0%	24.3%	15.4%	51.4%	41.3%	-20.4%	29.1%
Net margin	8.4%	4.8%	2.6%	-1.2%	48.7%	-1.2%	-41.9%	-1.3%
Current ratio	1.76×	2.61×	1.99×	2.6×	5.94×	1.84×	1.58×	1.07×
Debt / equity	0.36×	0.65×	0.61×	0.85×	0.66×	0.94×	0.78×	0.3×
Interest coverage	9.29×	4.3×	4.05×	2.17×	8.43×	4.98×	-4.22×	2.7×
Dividend yield	0.4%	3.4%	3.0%	3.6%	2.9%	0.4%	0.0%	0.0%
Payout ratio	13.8%	72.8%	117.6%	-213.1%	6.2%	-30.2%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.5%	3.1%	1.8%	-1.0%	38.9%	-3.0%	-111.5%	-1.4%
Return on invested capital	6.3%	1.8%	1.7%	-0.4%	16.2%	-23.1%	-21.9%	-3.6%
Return on assets	3.2%	1.2%	0.8%	-0.4%	18.7%	-0.7%	-36.5%	-0.8%
Free cash flow yield	2.3%	-7.6%	-2.0%	-13.1%	4.3%	20.0%	28.6%	61.6%
Earnings yield	2.6%	4.6%	2.5%	-1.7%	46.6%	-1.3%	-61.9%	-4.7%
Enterprise value	CA$3.2B	CA$798.6M	CA$639.9M	CA$413M	CA$394.3M	CA$390.6M	CA$220.1M	CA$110.1M
Net debt / EBITDA	0.43×	1.76×	1.23×	0.74×	-0.03×	0.13×	-0.25×	0.39×
Cash conversion cycle (days)	-12	6	-21	-26	-0	-3	11	8