Aris Mining Corporation (ARIS) 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

-170.8%

-$10.55

vs $14.90 price

Levered DCF

-$4.97

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.88

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	38.64×	25×	39.5×	-57.64×	1.88×	-79.13×	-1.61×	-21.15×
P/B	2.12×	0.69×	0.72×	0.54×	0.84×	2.4×	1.79×	0.29×
P/S	3.3×	1.08×	1.01×	0.67×	1.05×	0.94×	0.65×	0.27×
EV / EBITDA	10.58×	4.41×	5.23×	3.4×	1.44×	5.55×	-2.92×	2×
Gross margin	49.6%	31.7%	33.7%	43.0%	43.7%	49.2%	41.9%	33.1%
Operating margin	38.5%	23.1%	26.1%	33.1%	35.8%	39.6%	-19.6%	27.9%
Net margin	8.4%	4.8%	2.6%	-1.2%	48.7%	-1.2%	-40.2%	-1.3%
Current ratio	1.76×	2.61×	1.99×	2.1×	5.94×	1.84×	1.58×	1.07×
Debt / equity	0.36×	0.65×	0.61×	0.88×	0.66×	0.94×	0.78×	0.3×
Interest coverage	9.25×	4.32×	4.35×	4.68×	10.78×	21.22×	-7.86×	8.65×
Dividend yield	2.6%	11.6%	10.9%	3.8%	2.8%	0.4%	0.0%	0.0%
Payout ratio	101.1%	259.9%	432.1%	-213.1%	6.1%	-31.8%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.4%	3.1%	1.8%	-1.0%	38.9%	-3.0%	-111.5%	-1.4%
Return on invested capital	6.0%	1.8%	1.8%	-1.0%	11.3%	-23.1%	-21.9%	-3.6%
Return on assets	3.1%	1.2%	0.8%	-0.4%	18.7%	-0.7%	-36.5%	-0.8%
Free cash flow yield	2.3%	-13.9%	-2.0%	-14.1%	1.8%	20.0%	29.3%	61.8%
Earnings yield	2.6%	4.5%	2.5%	-1.8%	46.3%	-1.3%	-62.2%	-4.7%
Enterprise value	$3.2B	$820.1M	$639.2M	$405.9M	$396.8M	$390.8M	$208.2M	$109.9M
Net debt / EBITDA	0.44×	1.44×	1.54×	1.14×	-0.02×	0.32×	0.04×	0.7×
Cash conversion cycle (days)	-15	9	-18	11	26	15	24	18