Vulcan Minerals Inc. (VUL.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

-89.9%

CA$0.04

vs CA$0.35 price

Levered DCF

CA$0.03

After debt service

Piotroski score

1 / 9

Weak

Altman Z-score

11.11

Safe zone

Rating

Overall 2 / 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	-9.05×	-10.78×	-22.66×	-15.23×	0.94×	-11.54×	-9.52×	-1.77×
P/B	0.59×	0.39×	0.4×	0.96×	0.71×	1.83×	3.09×	2.14×
P/S	0×	108.18×	0×	0×	0×	0×	0×	235.4×
EV / EBITDA	-19.33×	-21.65×	-29.6×	-29.04×	-13.59×	-7.38×	-6.23×	-1.68×
Gross margin	0.0%	-6.2%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Operating margin	0.0%	-408.7%	0.0%	0.0%	0.0%	0.0%	0.0%	267.6%
Net margin	0.0%	-1000.5%	0.0%	0.0%	0.0%	0.0%	0.0%	-13301.4%
Current ratio	27.35×	58.91×	33.37×	45.76×	55.18×	8.73×	3.06×	0.71×
Debt / equity	0×	0×	0×	0×	0×	0.01×	0×	0×
Interest coverage	0×	0×	0×	0×	0×	0×	0×	0×
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	-6.5%	-3.6%	-1.8%	-6.3%	75.5%	-15.8%	-32.6%	-120.8%
Return on invested capital	-1.9%	-1.1%	-0.9%	-0.7%	-75.8%	-14.3%	-23.2%	1.7%
Return on assets	-6.0%	-3.3%	-1.6%	-5.8%	69.1%	-11.8%	-17.2%	-77.5%
Free cash flow yield	-2.4%	-3.2%	-1.1%	-0.8%	-4.6%	-11.5%	-12.8%	-28.7%
Earnings yield	-11.1%	-9.2%	-4.4%	-6.6%	105.7%	-8.6%	-10.5%	-56.5%
Enterprise value	CA$18.8M	CA$10.5M	CA$13.2M	CA$35.8M	CA$26.8M	CA$2.9M	CA$3.3M	CA$2.9M
Net debt / EBITDA	4.64×	11.55×	9.92×	4.96×	2.75×	2.92×	0.6×	0.02×
Cash conversion cycle (days)	0	-3,635	0	-8,633	-6,415	-8,449	-4,263	-1,576