DPM Metals Inc. (DPM.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

+22.3%

CA$61.27

vs CA$50.10 price

Levered DCF

CA$72.58

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

12.68

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	15.52×	6.92×	6.52×	25.28×	5.52×	6.65×	-10.73×	12.56×
P/B	2.22×	1.27×	1.06×	0.92×	1.15×	1.63×	1.31×	0.75×
P/S	6.02×	2.88×	2.31×	2.16×	1.89×	2.05×	1.93×	1.34×
EV / EBITDA	9.83×	2.88×	2.02×	2.25×	2.55×	3.42×	20.69×	4.75×
Gross margin	63.7%	44.9%	42.5%	39.8%	37.2%	42.2%	21.7%	22.7%
Operating margin	45.3%	38.4%	35.7%	33.7%	34.5%	37.3%	14.9%	15.3%
Net margin	38.8%	39.6%	38.2%	8.2%	30.7%	32.4%	-17.7%	10.3%
Current ratio	3.58×	11.99×	6.7×	6.31×	5.99×	3.75×	0.96×	0.9×
Debt / equity	0×	0.01×	0.01×	0.01×	0.02×	0.02×	0.05×	0.07×
Interest coverage	146.67×	110.77×	77.27×	54.13×	67.42×	46.7×	7.53×	11.4×
Dividend yield	0.5%	1.7%	2.6%	3.0%	1.9%	0.9%	0.0%	0.0%
Payout ratio	8.0%	12.3%	15.6%	79.6%	11.7%	5.5%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	14.4%	17.5%	17.5%	3.5%	18.6%	25.8%	-12.0%	5.7%
Return on invested capital	13.2%	14.3%	13.9%	11.2%	16.1%	24.2%	8.7%	5.9%
Return on assets	12.0%	15.8%	15.2%	3.0%	16.0%	21.1%	-9.0%	4.2%
Free cash flow yield	11.0%	6.6%	20.8%	20.2%	17.1%	13.0%	3.5%	-1.4%
Earnings yield	6.5%	13.8%	16.5%	3.8%	16.2%	15.8%	-9.2%	7.7%
Enterprise value	CA$5.2B	CA$1B	CA$602.7M	CA$496.4M	CA$831.6M	CA$1.2B	CA$774M	CA$500.5M
Net debt / EBITDA	-0.91×	-1.77×	-1.95×	-1.9×	-0.98×	-0.39×	0.13×	0.28×
Cash conversion cycle (days)	92	228	97	132	99	72	54	48