OceanaGold Corporation (OGC.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

-73.4%

CA$9.06

vs CA$34.06 price

Levered DCF

CA$33.75

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

5.88

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	10.23×	31.91×	47.87×	30.05×	-984.52×	-24.13×	252.61×	54.74×
P/B	2.89×	3.32×	2.36×	2.38×	2.39×	2.37×	2.4×	4.3×
P/S	3.4×	4.67×	3.96×	4.16×	4.93×	7.4×	5.62×	8.75×
EV / EBITDA	5.18×	9.81×	9.68×	10.76×	22.85×	73.7×	18.7×	19.45×
Gross margin	46.6%	53.6%	51.4%	47.7%	56.5%	45.3%	44.6%	54.0%
Operating margin	39.3%	21.2%	18.3%	19.9%	19.7%	-8.5%	6.9%	21.5%
Net margin	33.2%	14.5%	8.1%	13.7%	-0.5%	-30.1%	2.2%	15.8%
Current ratio	1.45×	1.51×	1.05×	1.26×	1.47×	1.15×	1.07×	1.38×
Debt / equity	0.04×	0.04×	0.13×	0.15×	0.24×	0.2×	0.15×	0.11×
Interest coverage	44.56×	12.36×	8.31×	17.38×	12.55×	-3.73×	3.19×	10.51×
Dividend yield	0.4%	0.2%	0.4%	0.0%	0.0%	0.0%	0.2%	0.3%
Payout ratio	4.4%	7.5%	17.2%	0.0%	0.0%	0.0%	43.4%	15.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	28.3%	10.3%	4.8%	7.8%	-0.2%	-9.6%	1.0%	7.7%
Return on invested capital	18.5%	9.1%	5.8%	7.1%	0.8%	-2.0%	2.3%	6.4%
Return on assets	18.7%	7.2%	3.3%	5.6%	-0.2%	-6.4%	0.7%	5.5%
Free cash flow yield	8.4%	3.5%	0.8%	2.2%	-1.7%	-1.5%	-1.0%	1.8%
Earnings yield	9.8%	3.1%	2.0%	3.3%	-0.1%	-4.1%	0.4%	1.8%
Enterprise value	CA$6.1B	CA$5.9B	CA$4.2B	CA$4.2B	CA$3.9B	CA$3.8B	CA$3.8B	CA$6.8B
Net debt / EBITDA	-0.33×	-0.2×	0.39×	0.44×	1.38×	2.57×	0.85×	0.2×
Cash conversion cycle (days)	-27	29	11	-4	-6	-27	28	3