Orogen Royalties Inc. (OGN.V) 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

-112.5%

-CA$0.48

vs CA$3.82 price

Levered DCF

-CA$7.63

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

89.83

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	FY2019	FY2018
P/E	16.19×	102.31×	40×	112.77×	-29.37×	-0.47×	-7.86×	16.11×
P/B	2.41×	3.88×	1.97×	1.81×	1.64×	3.79×	2.71×	2.03×
P/S	5.8×	28.31×	15.51×	25.05×	40.09×	171.95×	48.9×	56.59×
EV / EBITDA	10.24×	56.94×	36.72×	108.63×	-68.45×	-11.88×	-8.2×	-5×
Gross margin	99.4%	99.1%	98.8%	96.6%	91.0%	30.0%	67.7%	88.7%
Operating margin	50.0%	57.7%	40.1%	17.7%	30.3%	16004.5%	-467.7%	-1217.1%
Net margin	36.1%	27.7%	38.9%	22.2%	-136.2%	-36458.9%	-622.4%	351.0%
Current ratio	19.85×	19.47×	22.09×	19.63×	15.98×	13.01×	29.46×	8.01×
Debt / equity	0.01×	0×	0×	0×	0×	0.03×	0.02×	0×
Interest coverage	0×	0×	0×	0×	0×	0×	0×	0×
Dividend yield	115.3%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	1852.7%	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%	3.8%	4.9%	1.6%	-5.6%	-804.6%	-34.5%	12.6%
Return on invested capital	13.3%	4.8%	5.1%	1.3%	1.2%	342.7%	-25.5%	35.3%
Return on assets	14.3%	3.7%	4.9%	1.6%	-5.5%	-734.1%	-33.0%	11.0%
Free cash flow yield	1.9%	1.2%	-0.4%	0.7%	-4.3%	-9.4%	-16.6%	-12.1%
Earnings yield	6.2%	1.0%	2.5%	0.9%	-3.4%	-212.0%	-12.7%	6.2%
Enterprise value	CA$65.6M	CA$250.8M	CA$115.2M	CA$91.4M	CA$81.1M	CA$38M	CA$23.8M	CA$18.8M
Net debt / EBITDA	-1.21×	-3.13×	-1.97×	-4.07×	1.86×	1.03×	1.13×	1.88×
Cash conversion cycle (days)	-2,808	-2,459	-2,016	-726	831	456	-37	-448