Eldorado Gold Corporation (EGO) 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

-189.3%

-$29.13

vs $32.63 price

Levered DCF

-$9.56

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.68

Distress 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	14.14×	10.47×	24.02×	-3.75×	-12.64×	17.23×	15.44×	-1.26×
P/B	1.71×	0.78×	0.71×	0.48×	0.47×	0.63×	0.37×	0.14×
P/S	3.94×	2.29×	2.49×	1.76×	1.79×	2.21×	2.07×	0.99×
EV / EBITDA	9.05×	4.65×	5.74×	6.11×	4.02×	4.91×	5.13×	-2.17×
Gross margin	44.9%	56.5%	26.7%	19.7%	31.0%	35.4%	20.8%	18.3%
Operating margin	41.5%	31.7%	18.0%	4.8%	23.1%	25.4%	23.8%	-103.9%
Net margin	27.9%	21.9%	10.4%	-40.6%	-14.4%	12.2%	13.1%	-78.8%
Current ratio	1.83×	3.6×	3.39×	3×	3.52×	2.88×	1.97×	3.63×
Debt / equity	0.3×	0.24×	0.19×	0.16×	0.14×	0.15×	0.15×	0.18×
Interest coverage	27.26×	20.84×	5.97×	1.18×	3.22×	5.13×	3.06×	-0.55×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	12.1%	7.4%	3.0%	-11.0%	-3.8%	3.5%	2.4%	-11.0%
Return on invested capital	12.3%	5.3%	2.5%	-4.1%	0.6%	3.3%	2.1%	-8.6%
Return on assets	7.7%	5.0%	2.1%	-7.9%	-2.8%	2.5%	1.7%	-7.8%
Free cash flow yield	-2.7%	0.8%	-1.2%	-7.1%	4.8%	9.7%	-4.1%	-53.8%
Earnings yield	7.1%	9.5%	4.2%	-23.1%	-8.1%	5.5%	6.3%	-79.3%
Enterprise value	$7.7B	$3.1B	$2.6B	$1.8B	$1.7B	$2.3B	$1.6B	$772.7M
Net debt / EBITDA	0.5×	0.12×	0.26×	0.81×	0.07×	0.16×	1.05×	-0.89×
Cash conversion cycle (days)	89	136	106	93	80	75	93	148