OR Royalties OR
CanadaBasic Materials · GoldUSD
43.00 USD (+26.8%)
4 analysts
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OR Royalties Inc. is a Canadian company that generates revenue through royalties on gold mine production, a business model that allows it to benefit from third-party production without assuming the operational costs of mining.
Key points
from its scores- ✓Very solid balance sheet8.8
- ✓Strong growth7.2
- ✕Poor share-price trend2.8
- ✕Demanding valuation3.3
- ✕Little or no dividend4.1
AI analysis
bottom line, main risk, context and newsSolid financial health and the royalty business moat do not compensate for a demanding valuation and growth that will likely moderate if gold remains under pressure.
OR Royalties has a healthy balance sheet (ND/EBITDA of 0.43) and a high-quality business (gross margin of 96.87%), but its valuation is demanding (P/E 22.46, EV/EBITDA 19.57) and its exceptional growth (revenue +62%) appears to be at its cyclical peak, with the gold price under pressure from a strong dollar and rising rates.
Total revenue concentration in the gold price, which faces a strong dollar and rising rates environment, could compress margins and curb future growth.
Context and risks
Canadian gold royalty company. The main risk is revenue concentration in a single metal and dependence on its price, which has been pressured by a strong dollar and rising rates. Canadian governance is solid, so jurisdictional risk is moderate.
Is OR Royalties stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades 57% above the Basic Materials median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 22.5 | 19.2 | +17% |
| EV / EBITDA | 19.6 | 10.0 | +96% |
| Price / book | 4.3 | 2.3 | +89% |
| Price / sales | 17.5 | 2.2 | +696% |
Sector: median of the 141 Basic Materials companies analysed. In bold, the multiples used for the comparison.
Valuation score: 3.3 out of 10 (median for Basic Materials: 5.8).
Average analyst target: 43.00 USD, +26.8% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 6.3 (sector 5.1), Growth 7.2 (sector 6.8).
Classic formulas with standard assumptions (0.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Basic Materials medianValuation
- P/E
- 22.5
- Forward P/E
- 24.5
- EV / EBITDA
- 19.6
- Price / book
- 4.3
- Price / sales
- 17.5
- PEG
- 0.70
- Market cap
- 6.4B USD
- Enterprise value
- 6.5B USD
Profitability
- ROE
- 20.4%
- ROA
- 10.6%
- ROIC (approx.)
- 16.4%
- Gross margin
- 96.9%
- Operating margin
- 77.0%
- Net margin
- 78.0%
- Free cash flow
- −169.6M USD
- FCF yield
- −2.7%
- Cash conversion
- −51%
Solvency
- Total debt
- 219.3M USD
- Net debt
- 143.7M USD
- Cash
- 75.6M USD
- EBITDA
- 330.3M USD
- Net debt / EBITDA
- 0.43
- Debt / equity
- 14.78
- Current ratio
- 2.28
- Quick ratio
- 2.23
Growth
- Revenue growth
- +62.0%
- Earnings growth
- +92.4%
- EPS (TTM)
- 1.51 USD
- EPS (forward)
- 1.38 USD
Dividend
- Dividend yield
- 0.8%
- Payout
- 15.2%
Risk and market
- Beta
- 1.35
- Analyst consensus
- Buy (4)
- Target price
- 43.00 USD
- 52-week range
- 27.54 – 48.06
Recent news
All OR news →Compare it with its sector
All 141 in Basic Materials →Frequently asked questions about OR Royalties
Is OR Royalties stock cheap or expensive?
On P/E and EV / EBITDA, it trades 57% above the Basic Materials median on average. Valuation score: 3.3 out of 10 (median for Basic Materials: 5.8). Average analyst target: 43.00 USD, +26.8% versus the price. This is not investment advice.
What score does OR Royalties get on MeridIAn Screener?
It scores 5.4 out of 10, rank 1,491 of 2,130 (better than 29% of the companies analysed). Its strongest category is Financial health (8.8) and its weakest, Momentum (2.8). Analysis of 08/10/2026.
What is OR Royalties's P/E ratio?
Its P/E is 22.5: the share price equals 22.5 times earnings per share over the last 12 months. The Basic Materials median is 19.2. Based on the earnings analysts expect, the forward P/E is 24.5.
How much is OR Royalties worth on the stock market?
Its market capitalisation is 6.4B USD and its enterprise value, debt included, is 6.5B USD.
How much debt does OR Royalties have?
Its net debt (debt minus cash) is 143.7M USD. That is 0.43 times its EBITDA; the Basic Materials median is 1.41.
Does OR Royalties pay a dividend?
Yes: its dividend yield is 0.77% and it pays out 15% of its earnings.
How has OR Royalties stock performed over the last year?
It has fallen 9.5% over the last year, excluding dividends. Over the last 52 weeks it has traded between 27.54 and 48.06 USD. Past performance does not guarantee future results.
What do analysts think of OR Royalties?
4 analysts cover it; their average recommendation is “Buy” and their average target is 43.00 USD (+26.8% versus the price). It is an estimate, not market data.