Imperial Metals Corporation (III.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

-1931.2%

-CA$114.81

vs CA$6.27 price

Levered DCF

-CA$150.38

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.72

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	10.99×	2.76×	-9.48×	-3.55×	-16.68×	-135.28×	-6.65×	-1.48×
P/B	1.64×	0.36×	0.48×	0.37×	0.57×	0.91×	0.36×	0.46×
P/S	2.43×	0.6×	1×	1.55×	3.24×	4.47×	3.69×	0.52×
EV / EBITDA	4.63×	2.83×	27.96×	-12.23×	37.16×	17.74×	360.33×	-24.16×
Gross margin	42.6%	32.6%	-3.9%	-16.6%	7.8%	13.9%	-9.1%	-9.2%
Operating margin	39.9%	29.4%	-5.2%	-62.1%	-24.6%	-5.1%	-42.2%	-12.9%
Net margin	22.2%	21.5%	-10.7%	-44.0%	-19.5%	-3.3%	-56.1%	-34.9%
Current ratio	0.59×	0.48×	0.42×	0.64×	0.79×	1.2×	1.98×	0.1×
Debt / equity	0.17×	0.45×	0.45×	0.27×	0.05×	0×	0.01×	2.16×
Interest coverage	10.04×	3.93×	-0.57×	-12.03×	-21.97×	-5.61×	-0.66×	-0.63×
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	15.0%	12.9%	-5.1%	-10.3%	-3.4%	-0.7%	-5.5%	-31.1%
Return on invested capital	10.2%	8.9%	-0.8%	-7.5%	-2.5%	-0.4%	-1.8%	-2.5%
Return on assets	8.6%	6.4%	-2.6%	-5.8%	-2.2%	-0.4%	-3.8%	-8.0%
Free cash flow yield	7.5%	-9.1%	-36.8%	-86.1%	-20.2%	-7.5%	-14.4%	7.1%
Earnings yield	9.1%	36.1%	-10.7%	-28.3%	-6.0%	-0.7%	-15.2%	-67.4%
Enterprise value	CA$1.8B	CA$609.3M	CA$637.6M	CA$438.9M	CA$439.6M	CA$630.4M	CA$178.7M	CA$1B
Net debt / EBITDA	0.36×	1.46×	12.93×	-4.74×	0.6×	-0.89×	-173.66×	-19.83×
Cash conversion cycle (days)	25	31	11	29	-70	-76	-147	19