Triple Flag Precious Metals Corp. (TFPM.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

-41.3%

CA$23.68

vs CA$40.38 price

Levered DCF

CA$59.62

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

13.31

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	27.68×	-136.45×	72.38×	39.52×	38.74×	34.12×	-44.6×	-57,341.6×
P/B	3.31×	1.74×	1.44×	1.64×	1.37×	1.87×	3.15×	4.05×
P/S	17.1×	11.24×	12.74×	14.2×	11.82×	16.92×	31.58×	41.33×
EV / EBITDA	21.34×	43.28×	23.92×	18.29×	14.01×	22.47×	139.23×	46.62×
Gross margin	67.6%	85.8%	81.9%	57.3%	55.3%	44.5%	20.6%	2.9%
Operating margin	59.3%	-6.7%	20.1%	42.2%	45.7%	30.8%	2.4%	-9.8%
Net margin	61.7%	-8.6%	17.8%	36.3%	30.3%	49.4%	-70.0%	-0.1%
Current ratio	3.92×	2.79×	3.29×	7.2×	16.2×	14.22×	11.74×	7.05×
Debt / equity	0×	0×	0.03×	0×	0×	0.27×	0.1×	0.27×
Interest coverage	54.68×	-3.2×	5.59×	19.36×	10.7×	3.34×	0.16×	-1.44×
Dividend yield	0.7%	1.4%	1.6%	1.4%	0.8%	0.0%	0.0%	0.0%
Payout ratio	19.1%	-187.5%	113.9%	55.2%	32.6%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	12.0%	-1.3%	2.0%	4.2%	3.5%	5.5%	-7.0%	-0.0%
Return on invested capital	10.1%	-1.0%	2.2%	4.5%	4.6%	2.4%	0.2%	0.5%
Return on assets	11.6%	-1.3%	1.9%	4.1%	3.5%	4.3%	-6.3%	-0.0%
Free cash flow yield	1.4%	5.2%	-1.4%	3.1%	3.9%	-33.9%	-7.1%	-13.1%
Earnings yield	3.6%	-0.8%	1.4%	2.6%	2.6%	2.9%	-2.2%	-0.0%
Enterprise value	CA$6.7B	CA$3B	CA$2.6B	CA$2.1B	CA$1.7B	CA$2.2B	CA$1.9B	CA$1.9B
Net debt / EBITDA	-0.09×	-0.5×	0.38×	-0.61×	-0.32×	2.66×	3.47×	2.71×
Cash conversion cycle (days)	22	33	30	24	22	24	59	120