Public Comps and Valuation Multiples for Metals & Mining

Benchmark revenue and EBITDA valuation multiples for public comps like
BHP Group, Rio Tinto, Southern Copper, Rio Tinto UK and Zijin Mining.

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Metals & Mining

CompanyMarket CapEnterprise ValueLTM RevenueEV/LTM RevenueEV/LTM EBITDA
$204B$218B$58B3.8x6.8x
$179B$196B$61B3.2x7.1x
$146B$148B$15B9.7x15.5x
$144B$160B$61B2.6x5.9x
$112B$123B$61B2.0x6.9x
$109B$111B$9.1B12.2x39.0x
$95B$92B$25B3.6x5.8x
$89B$89B$20B4.4x7.6x
$85B$91B$27B3.3x8.3x
$81B$121B$270B0.4x7.1x
$68B$65B$14B4.5x6.5x
$61B$67B$10B6.4x15.4x
$60B$77B$40B1.9x4.8x
$55B$53B$33B1.6x6.5x
$53B$57B$36B1.6x9.9x
$50B$59B$64B0.9x8.0x
$49B$58B$20B2.9x7.9x
$47B$44B$3.2B14.0x16.9x
$46B$48B$9.5B5.1x8.0x
$40B$41B$17B2.5x4.8x
$38B$37B$2.3B16.6x18.3x
$38B$37B$12B3.2x5.0x
$36B$37B$24B1.5x5.9x
$36B$34B$25B1.4x4.9x
$33B$30B$7.5B4.0x6.2x
$33B$21B
$32B$20B
$29B$11B
$28B$25B
$28B$3.2B
$27B$18B
$27B$8.5B
$26B$9.3B
$25B$4.8B
$24B$22B
$24B$23B
$24B$5.5B
$24B$5.1B
$24B$25B
$23B$4.7B
$22B-
$22B$6B
$22B$37B
$22B$30B
$20B$4.4B
$20B$7.2B
$20B$15B
$19B$6.4B
$19B$47B
$19B$5.4B
$19B$65B
$18B$11B
$18B-
$18B$4.3B
$17B$90B
$17B$2.8B
$17B$8.2B
$17B$22B
$17B-
$16B$3.2B
$16B$1.8B
$16B$1.5B
$16B$12B
$15B$49B
$15B$17B
$15B$11B
$15B$3.9B
$15B$3.9B
$14B$5.8B
$13B$2.1B
$13B$5.6B
$13B$14B
$13B$4.5B
$13B$7B
$12B$2.2B
$11B$14B
$11B$2.2B
$11B$5B
$11B$761M
$11B$6.1B
$11B$8.7B
$11B-
$11B$1.5B
$10B$11B
$10B$13B
$10B$656M
$9.6B$8.3B
$9.6B$1.5B
$9.4B$1.4B
$9.2B$2.6B
$9.1B$6B
$8.9B-
$8.8B$10B
$8.7B$17B
$8.6B$14B
$8.5B$26B
$8.5B$2.2B
$8.4B$37B
$8.4B$2.8B
$8.1B$348M
$7.8B$2B
$7.8B$1.5B
$7.6B$4.4B
$7.4B$1.2B
$7.3B$8.5B
$7.2B$9.1B
$7.2B$2.4B
$6.8B$2.9B
$6.7B$2.6B
$6.5B$689M
$6.3B$4.7B
$6.2B$5.3B
$6B$3.1B
$5.9B-
$5.8B$1.6B
$5.7B$394K
$5.6B$3.2B
$5.6B$458M
$5.6B$9.2B
$5.5B$3.3B
$5.3B$4.1B
$5.3B$910M
$5.2B$350M
$5.2B$2.9B
$5.1B$2B
$5.1B$20B
$5.1B-
$5.1B-
$5B$2.4B
$4.8B$3.7B
$4.7B-
$4.7B$1.5B
$4.7B$16B
$4.7B-
$4.7B$4.6B
$4.6B$7B
$4.5B-
$4.4B$1.2B
$4.3B$36M
$4.3B$1.5B
$4.2B$3B
$4.2B$4.3B
$4.2B$1.3B
$4.2B$1.9B
$3.9B-
$3.9B$7.5B
$3.8B$764M
$3.8B$9.6B
$3.8B-
$3.7B$533M
$3.6B$789M
$3.6B$4.2B
$3.5B-
$3.5B$1.8B
$3.5B$281M
$3.4B$11B
$3.4B$587M
$3.4B$1.6B
$3.4B$5.8B
$3.3B$1.4B
$3.2B$1.4B
$3.2B$12B
$3.1B$195K
$3.1B$10M
$3B$1.6B
$3B$1.7B
$2.9B$1.5B
$2.9B$6.9B
$2.9B$1.7B
$2.9B$112M
$2.8B$1.3B
$2.8B$548M
$2.8B$4.2B
$2.7B$2B
$2.7B$802M
$2.7B$353M
$2.6B-
$2.6B$479M
$2.6B$1.8B
$2.6B$19B
$2.6B$247M
$2.6B$1B
$2.6B$1.8B
$2.6B$3.9B
$2.6B-
$2.5B-
$2.5B$993M
$2.4B-
$2.4B$1.2B
$2.4B$1.2B
$2.3B$437M
$2.3B-
$2.2B$685M
$2.2B$1.6B
$2.1B$702M
$2.1B$4M
$2.1B-
$2.1B$1.3B
$2.1B-
$2.1B-
$2B-
$2B$3.4B
$2B$466M
$1.9B$1B
$1.9B-
$1.9B$5B
$1.9B-
$1.8B$631M
$1.8B$4B
$1.8B-
$1.7B-
$1.7B$663M
$1.7B-
$1.7B$603K
$1.6B$613M
$1.6B-
$1.6B-
$1.6B$3.3B
$1.6B-
$1.6B-
$1.6B-
$1.5B$1.3B
$1.5B-
$1.5B-
$1.4B$3.5B
$1.4B$1.7B
$1.4B$1B
$1.4B$619M
$1.3B$8.8B
$1.3B$1.6B
$1.3B$313M
$1.3B$3M
$1.3B-
$1.3B$288M
$1.3B$834M
$1.3B$659M
$1.3B-
$1.2B$957M
$1.2B$422M
$1.2B$1.3B
$1.2B$1.7B
$1.2B-
$1.1B$264M
$1.1B-
$1.1B$1.8B
$1.1B$26B
$1.1B-
$1.1B$188M
$1.1B$151M
$1.1B$166M
$1B-
$1B$2B
$1B-
$999M-
$989M$463M
$983M$244M
$968M$250M
$960M-
$954M$85M
$932M$69M
$927M-
$913M$56K
$891M-
$880M-
$872M$243M
$867M$349M
$862M$708M
$847M$19K
$834M$4M
$820M$3M
$811M$85M
$803M$2.7B
$796M$1.2B
$794M$81M
$747M-
$732M$436M
$708M$1M
$674M-
$621M-
$620M$1.4B
$616M-
$594M$191M
$592M-
$590M-
$577M-
$573M$3M
$566M-
$561M$596M
$558M-
$557M-
$550M$202M
$549M$357M
$542M$26M
$539M-
$500M-
$490M-
$487M$176K
$454M$738M
$447M-
$443M-
$443M$284M
$432M$809M
$426M$2M
$416M-
$414M$1.9B
$396M-
$389M-
$389M$1.2B
$385M-
$380M-
$377M$34M
$376M$478M
$376M$893K
$369M-
$364M$3M
$362M$308K
$359M$3M
$359M$180M
$357M$643M
$348M$174M
$347M$67M
$343M-
$343M$336M
$337M-
$334M-
$326M$151K
$324M$298M
$323M-
$319M-
$317M$260M
$313M-
$312M-
$307M-
$306M$660K
$302M$283M
$300M-
$299M-
$299M$204M
$299M-
$298M$71K
$296M$371M
$294M-
$287M$202M
$286M-
$285M$28M
$284M-
$278M$1M
$278M-
$273M$411K
$269M$401M
$268M-
$264M-
$258M-
$257M$308K
$251M-
$249M-
$247M-
$244M-
$242M-
$238M-
$237M$5M
$236M$595K
$233M-
$232M$3M
$231M-
$230M$57M
$226M$867M
$225M$6M
$223M-
$218M$96M
$217M-
$216M$2.2B
$213M-
$211M-
$210M-
$209M-
$209M-
$207M-
$206M-
$206M-
$200M$4M
$196M$129M
$194M-
$193M-
$192M-
$192M-
$191M-
$191M-
$190M$4M
$188M-
$187M$372K
$187M-
$185M-
$178M$78M
$177M-
$177M-
$174M$8M
$173M-
$173M$48M
$171M-
$169M$9M
$168M$315K
$168M$283M
$167M$374K
$167M-
$165M$48M
$164M-
$163M$87M
$162M-
$160M-
$160M$22M
$159M-
$159M-
$157M-
$157M-
$154M-
$151M-
$151M$424M
$149M-
$146M-
$146M$17M
$145M-
$144M-
$143M-
$141M-
$141M-
$140M-
$140M$1M
$138M$153M
$138M$334M
$138M-
$137M-
$136M$67M
$134M-
$134M-
$131M$70K
$129M-
$126M-
$126M$12M
$125M-
$123M-
$121M$70K
$121M-
$121M$12M
$116M-
$116M-
$116M-
$115M-
$115M$39M
$115M-
$114M-
$113M-
$113M-
$112M-
$110M$211M
$110M-
$109M$573K
$108M$516M
$106M-
$102M-
$102M-
$97M-
$96M-
$96M-
$94M$5M
$94M-
$93M-
$93M-
$92M-
$92M-
$91M-
$91M-
$89M$140M
$89M-
$89M$7M
$89M-
$87M-
$87M-
$87M-
$86M-
$85M-
$84M-
$84M-
$84M-
$84M-
$83M$100K
$83M-
$83M$921K
$82M-
$80M-
$80M-
$80M-
$79M-
$76M$210K
$76M-
$75M-
$74M$118M
$74M-
$71M-
$70M-
$69M-
$69M-
$68M-
$68M-
$67M-
$67M$146M
$66M-
$66M-
$65M$130M
$64M$135M
$63M-
$63M$127M
$62M-
$62M-
$62M-
$62M-
$62M-
$61M-
$60M-
$59M$70K
$59M-
$58M-
$57M-
$56M-
$55M-
$55M-
$55M-
$54M-
$54M-
$53M-
$53M$213M
$52M-
$52M-
$51M-
$51M-
$51M-
$50M-
$50M-
$50M-
$50M-
$49M-
$49M-
$49M-
$49M-
$48M-
$48M-
$46M-
$46M$43M
$46M$2M
$45M-
$45M-
$45M-
$44M-
$42M-
$41M-
$41M-
$41M-
$41M$4M
$40M-
$40M-
$39M$53M
$39M-
$39M-
$38M-
$38M-
$38M-
$37M-
$37M-
$37M-
$36M-
$36M-
$36M-
$36M-
$35M-
$35M-
$35M-
$35M-
$34M-
$34M-
$34M-
$34M-
$34M-
$33M-
$33M-
$33M-
$33M-
$33M-
$32M-
$32M-
$32M-
$32M-
$31M-
$30M-
$30M-
$30M-
$29M-
$29M-
$29M-
$28M-
$27M-
$27M-
$27M-
$26M$332M
$25M-
$25M-
$25M-
$24M-
$24M-
$24M-
$22M-
$22M-
$21M-
$21M-
$20M-
$20M-
$20M-
$19M-
$18M-
$18M-
$17M-
$17M$186M
$16M-
$16M-
$15M-
$14M-
$14M-
$14M-
$14M-
$13M-
$13M-
$13M-
$12M-
$12M-
$12M-
$11M-
$10M-
$10M-
$10M-
$9M-
$9M-
$8M-
$8M-
$8M-
$7M-
$7M$23M
$7M-
$7M-
$6M-
$6M-
$6M-
$6M-
$6M-
$6M-
$5M-
$5M-
$5M-
$4M-
$4M-
$4M-
$4M-
$4M-
$4M-
$3M-
$3M-
$3M-
$3M-
$3M-
$3M-
$2M-
$2M-
$2M-
$1M-
$1M-
$699K-
$683K-
$659K-
$80K-
$9K-
$0K-
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