K92 Mining Inc. (KNT.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

-188.9%

-CA$22.36

vs CA$25.14 price

Levered DCF

CA$10.06

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

20.15

Safe zone

Rating

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	14.49×	12.83×	35.06×	35.36×	47.37×	31.43×	13.85×	2.8×
P/B	5.21×	3×	3.28×	4.19×	5.59×	7.1×	3.59×	1.55×
P/S	6.59×	4.06×	5.74×	6.89×	8.16×	8.1×	4.41×	2.04×
EV / EBITDA	8.75×	6.67×	12.51×	14.35×	19.33×	15.68×	10.97×	6.04×
Gross margin	70.5%	59.4%	44.4%	48.8%	46.0%	53.9%	52.8%	44.0%
Operating margin	67.2%	46.6%	27.2%	33.7%	30.8%	43.5%	31.0%	24.5%
Net margin	45.4%	31.7%	16.6%	18.9%	17.7%	26.4%	32.0%	73.5%
Current ratio	3.28×	2.27×	3.08×	3.6×	3.68×	3.39×	2.13×	1.26×
Debt / equity	0.07×	0.08×	0.01×	0.03×	0.06×	0.04×	0.12×	0.02×
Interest coverage	643.31×	450.91×	16.43×	19.68×	29.17×	29.23×	16.88×	31.26×
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	35.9%	23.4%	9.5%	11.5%	12.1%	23.2%	26.1%	56.0%
Return on invested capital	33.6%	20.5%	9.5%	11.5%	11.3%	22.8%	22.2%	17.9%
Return on assets	28.7%	17.7%	8.0%	9.6%	10.0%	19.5%	21.0%	44.5%
Free cash flow yield	1.7%	1.8%	-2.4%	0.1%	1.7%	2.7%	-3.9%	-0.3%
Earnings yield	6.9%	7.8%	2.9%	2.7%	2.2%	3.3%	7.3%	36.0%
Enterprise value	CA$3.8B	CA$1.3B	CA$1.1B	CA$1.2B	CA$1.2B	CA$1.2B	CA$441M	CA$103.5M
Net debt / EBITDA	-0.4×	-0.51×	-0.79×	-1.2×	-0.92×	-0.55×	-0.18×	-0.29×
Cash conversion cycle (days)	142	102	124	121	123	123	99	33