Gold Royalty Corp. (GROY) 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

-373.0%

-$7.48

vs $2.74 price

Levered DCF

-$10.97

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

3.07

Safe 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
P/E	-171.19×	-60.5×	-8.17×	-18.14×	-9.62×	-577.42×
P/B	1.01×	0.35×	0.41×	0.61×	0.74×	-579.83×
P/S	45.29×	19.1×	69.8×	82.58×	873.88×	0×
EV / EBITDA	104.21×	124.03×	-8.14×	-21.03×	-12.72×	-580.97×
Gross margin	76.4%	65.6%	69.1%	55.5%	12.2%	0.0%
Operating margin	10.9%	-40.2%	-287.9%	-442.1%	-6553.1%	0.0%
Net margin	-26.5%	-33.8%	-877.8%	-439.8%	-9079.1%	0.0%
Current ratio	4.88×	1.52×	1.44×	2.35×	1.92×	0.27×
Debt / equity	0×	0.09×	0.06×	0.02×	0×	0×
Interest coverage	0.2×	-0.51×	-4.77×	-27.55×	0×	0×
Dividend yield	0.0%	0.0%	1.2%	1.2%	0.0%	0.0%
Payout ratio	0.0%	0.0%	-9.7%	-23.2%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	-0.6%	-0.6%	-5.1%	-3.2%	-7.7%	99.8%
Return on invested capital	0.2%	-0.2%	-1.0%	-2.6%	-4.6%	99.8%
Return on assets	-0.5%	-0.5%	-3.9%	-2.5%	-6.2%	-253.6%
Free cash flow yield	-9.4%	-22.6%	-16.7%	-12.0%	-13.7%	0.0%
Earnings yield	-0.6%	-1.8%	-12.6%	-5.3%	-10.4%	-0.2%
Enterprise value	$694.7M	$240.7M	$244.4M	$328.3M	$157.9M	$81.7M
Net debt / EBITDA	-1.83×	24.59×	-1.05×	-0.17×	0.8×	0.27×
Cash conversion cycle (days)	-248	-283	-1,019	-1,137	-14,116	0