Public Comps and Valuation Multiples for Metals & Mining

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

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Metals & Mining

CompanyMarket CapEnterprise ValueLTM RevenueEV/LTM RevenueEV/LTM EBITDA
$228B$242B$58B4.2x7.5x
$199B$212B$61B3.5x7.8x
$165B$179B$62B2.9x6.6x
$158B$160B$16B10.3x16.3x
$125B$135B$62B2.2x7.4x
$120B$117B$25B4.6x7.3x
$113B$117B$9.4B12.5x39.6x
$102B$101B$21B4.9x8.4x
$94B$100B$28B3.6x8.8x
$91B$88B$14B6.2x9.0x
$91B$132B$283B0.5x7.5x
$69B$76B$11B7.2x17.3x
$62B$66B$37B1.8x10.6x
$60B$76B$40B1.9x4.9x
$60B$62B$3.2B19.4x23.5x
$59B$67B$20B3.4x8.7x
$56B$55B$35B1.6x6.6x
$56B$65B$65B1.0x8.6x
$54B$57B$9.7B5.9x9.3x
$48B$47B$12B4.1x6.5x
$45B$44B$2.3B19.1x21.1x
$44B$41B$7.6B5.4x8.1x
$39B$40B$24B1.6x6.5x
$39B$40B$17B2.4x4.8x
$37B$41B$22B1.9x12.5x
$37B$11B
$36B$25B
$33B$20B
$32B$8.5B
$31B$9.6B
$31B$4.9B
$30B$5.7B
$28B$25B
$27B$3.2B
$27B$18B
$26B$6.2B
$26B$4.8B
$25B$23B
$25B$22B
$24B$31B
$24B$8.5B
$24B$25B
$24B$5.2B
$23B$5.5B
$23B$37B
$22B-
$22B$67B
$22B$7.3B
$22B$16B
$22B$1.9B
$21B$4.5B
$21B$11B
$21B$6.8B
$20B$91B
$20B$4.4B
$20B$3.9B
$19B$3B
$19B$1.5B
$19B$12B
$19B$3.8B
$19B$22B
$19B$17B
$18B$7.7B
$18B$47B
$18B$4.4B
$18B$15B
$17B$51B
$17B$3.3B
$16B$11B
$16B$2.1B
$16B$6.8B
$15B$5.8B
$15B$6B
$15B$4.7B
$14B$4.9B
$14B$2.2B
$13B$3.2B
$13B$14B
$12B$6.2B
$12B$1.4B
$12B$8.5B
$12B$14B
$12B$664M
$12B$749M
$12B$2.7B
$12B$6.2B
$11B$2.3B
$11B$8.9B
$11B$1.5B
$11B$11B
$11B$17B
$11B$1.5B
$11B-
$10B$697M
$10B$2.8B
$10B$2.3B
$9.9B$364M
$9.7B$1.2B
$9.3B$1.5B
$9.2B$4.6B
$9.1B$10B
$9B-
$8.9B$14B
$8.9B$37B
$8.9B$28B
$8.4B$2.7B
$8.4B$8.7B
$8B$9.2B
$7.9B$2.2B
$7.6B$2B
$7.6B$9.4B
$7B$1.5B
$7B-
$6.9B$20B
$6.7B$3.6B
$6.6B$3.4B
$6.5B$2B
$6.5B$913M
$6.5B$463M
$6.4B$3.1B
$6.4B$4.8B
$6.3B$2.5B
$6.3B-
$6.3B$1.3B
$6.2B$347M
$6.1B$1.2B
$6B-
$6B$3.1B
$5.9B$1.6B
$5.5B$54M
$5.4B$5.4B
$5.4B-
$5.3B-
$5.3B$2.9B
$5.3B$1.5B
$5.2B$7.1B
$5.2B$549M
$5.1B-
$5B$4B
$5B$801M
$4.9B$763M
$4.9B$16B
$4.7B-
$4.6B$4.4B
$4.6B$3B
$4.5B$4.7B
$4.4B$1.4B
$4.4B$12B
$4.3B$1.9B
$4.3B-
$4.2B$289M
$4.2B$1.7B
$4.1B$7.4B
$4.1B$166K
$4B$1.8B
$4B$1.7B
$4B-
$3.9B$9.6B
$3.9B$1.7B
$3.8B$365M
$3.7B$1.5B
$3.6B$108M
$3.6B$5.8B
$3.6B$1.3B
$3.6B$1.1B
$3.5B$822M
$3.5B-
$3.4B-
$3.4B$449M
$3.4B$1.6B
$3.4B$1.1B
$3.3B$4.1B
$3.2B$686M
$3.2B$11B
$3.2B$1.7B
$3.1B$1.2B
$3.1B$1.2B
$3.1B$5M
$3.1B-
$3.1B$6.9B
$3.1B$439M
$3.1B$701M
$3B$2B
$3B$4.1B
$3B$17M
$2.9B$4.1B
$2.9B$19B
$2.8B$1.7B
$2.8B$349M
$2.8B$502M
$2.7B$1.1B
$2.7B$265M
$2.6B$460M
$2.6B-
$2.5B$1.8B
$2.5B-
$2.3B-
$2.3B-
$2.2B$497K
$2.2B$1B
$2.2B$668M
$2.2B-
$2.1B-
$2.1B$692M
$2.1B-
$2.1B$3.4B
$2.1B-
$2.1B$1.3B
$2B$633M
$1.9B$4.3B
$1.9B-
$1.9B$3.4B
$1.9B-
$1.8B$623M
$1.8B-
$1.8B-
$1.7B-
$1.7B$1.1B
$1.7B$204M
$1.7B$3M
$1.7B-
$1.6B-
$1.6B$436M
$1.6B-
$1.6B$3.6B
$1.5B-
$1.5B$966M
$1.5B-
$1.5B$663M
$1.5B$320M
$1.5B-
$1.5B-
$1.5B$4.9B
$1.4B$162M
$1.4B$879M
$1.4B$10M
$1.4B$1.7B
$1.4B$1.3B
$1.4B$1.8B
$1.3B$71M
$1.3B-
$1.3B$26B
$1.3B$282M
$1.3B-
$1.3B-
$1.2B$230M
$1.2B-
$1.2B$1.7B
$1.2B$191M
$1.2B$470M
$1.2B-
$1.2B$303M
$1.2B$251M
$1.2B-
$1.2B-
$1.1B$1.8B
$1.1B$238M
$1.1B-
$1.1B-
$1.1B-
$1.1B$1.3B
$1.1B$8.6B
$1.1B-
$1.1B-
$1B$2B
$986M$4M
$978M$168M
$967M$179K
$923M$1M
$922M$466K
$907M$2.7B
$904M$429M
$892M$1.2B
$886M$356M
$885M$5M
$884M$3M
$851M$714M
$823M$37M
$823M-
$818M$1.4B
$813M$426M
$799M$61M
$789M-
$786M$86M
$747M-
$745M-
$715M-
$683M$352M
$676M-
$674M-
$650M$197M
$612M$597M
$603M-
$573M-
$572M-
$568M$202M
$565M$165K
$564M$288M
$550M-
$521M$112M
$518M$839K
$515M-
$501M-
$501M$52M
$485M-
$482M-
$477M$3M
$476M-
$470M$1.1B
$461M$346M
$457M$749M
$454M-
$453M$151K
$446M$38M
$444M$500M
$443M$810M
$441M$34M
$440M$291M
$431M$182M
$426M$2M
$423M-
$422M-
$419M$310K
$412M$322K
$410M$680M
$405M-
$396M-
$394M-
$387M$207M
$387M-
$383M$403M
$379M$72K
$373M$5M
$370M$1.9B
$369M$29M
$368M$6M
$367M$69M
$362M-
$360M-
$347M$270M
$343M-
$341M$50M
$341M$1M
$337M-
$337M$351K
$321M-
$319M$286M
$315M-
$314M$205M
$313M-
$313M-
$312M-
$306M$225M
$304M$13M
$303M-
$301M-
$300M-
$295M-
$289M$10M
$288M-
$287M$374M
$281M$47K
$279M-
$277M-
$269M-
$267M-
$262M-
$257M-
$256M$3M
$255M-
$253M$101M
$250M$637K
$249M-
$248M-
$247M-
$243M-
$239M$696K
$236M-
$234M-
$230M-
$228M-
$227M$869M
$225M-
$222M-
$221M$126M
$217M-
$217M-
$217M-
$217M-
$216M-
$215M-
$214M-
$214M$374K
$213M-
$211M-
$205M-
$205M-
$203M-
$202M$8M
$200M$99M
$200M$12M
$200M$290M
$199M-
$197M-
$194M-
$192M-
$191M-
$190M$313K
$190M-
$189M$2.1B
$184M-
$183M$2M
$182M-
$179M$45M
$178M-
$177M-
$177M$8M
$177M-
$175M-
$175M-
$173M$45M
$172M$73M
$171M-
$170M-
$170M-
$170M-
$168M$69M
$167M$96M
$163M-
$161M-
$160M$158M
$160M-
$158M-
$154M-
$151M-
$150M$433M
$148M$351K
$148M$573K
$147M-
$147M-
$146M$130M
$146M-
$146M-
$145M-
$145M-
$144M-
$143M-
$140M-
$140M$335M
$138M$8M
$137M-
$136M$516M
$134M-
$134M-
$133M-
$132M$62K
$132M-
$131M-
$129M-
$128M-
$128M$51M
$127M$4M
$127M-
$126M-
$124M-
$124M-
$121M-
$120M-
$120M-
$114M-
$114M-
$114M-
$113M-
$113M-
$110M-
$109M$213M
$106M$4M
$106M-
$103M-
$103M-
$102M-
$101M-
$99M-
$98M-
$98M-
$96M-
$96M$120M
$96M-
$96M$7M
$95M$44K
$94M-
$94M-
$93M$100K
$93M-
$93M$141M
$92M$148M
$92M($496K)
$91M-
$91M$930K
$90M-
$90M-
$89M-
$89M-
$87M-
$87M-
$85M$212K
$85M$345K
$84M-
$83M-
$83M-
$82M-
$82M-
$80M-
$79M-
$79M-
$79M-
$78M-
$77M-
$77M-
$76M$127M
$75M-
$75M-
$74M$22M
$73M$120M
$70M-
$70M$29M
$69M-
$69M$136M
$66M-
$66M-
$65M-
$64M$64M
$63M-
$63M-
$63M-
$62M-
$62M-
$62M-
$62M-
$62M-
$62M-
$61M$214M
$61M-
$61M-
$61M-
$59M-
$58M-
$58M-
$57M-
$57M-
$56M-
$56M-
$55M-
$55M-
$54M-
$54M-
$54M-
$53M-
$53M-
$52M-
$52M-
$52M-
$52M-
$51M-
$51M-
$51M-
$50M-
$50M-
$50M-
$49M-
$49M$2M
$48M$26M
$47M-
$47M$8M
$47M-
$45M-
$44M-
$43M-
$43M-
$43M-
$42M-
$42M-
$41M-
$41M-
$41M-
$41M-
$41M-
$41M-
$40M-
$39M-
$39M-
$39M-
$38M$54M
$38M-
$38M-
$37M-
$37M-
$37M-
$37M-
$37M-
$37M-
$36M-
$36M-
$36M-
$35M-
$35M-
$35M-
$35M-
$35M-
$35M-
$35M-
$34M-
$33M-
$33M-
$32M-
$32M-
$32M-
$31M-
$31M-
$31M-
$30M-
$30M-
$30M-
$30M-
$29M-
$29M-
$29M-
$29M-
$29M-
$28M-
$28M$204K
$27M$257M
$27M-
$27M-
$27M$856K
$27M-
$23M-
$23M-
$22M-
$22M-
$21M-
$21M-
$20M-
$20M-
$20M-
$20M-
$19M-
$19M-
$18M-
$18M-
$18M-
$17M$186M
$16M-
$16M-
$16M-
$16M-
$16M-
$14M-
$14M-
$13M-
$13M-
$13M-
$13M-
$12M-
$12M-
$12M-
$12M-
$12M-
$11M-
$11M-
$10M-
$10M-
$10M-
$10M-
$9M-
$9M-
$9M-
$9M-
$9M-
$8M-
$8M-
$8M-
$8M-
$8M-
$7M$23M
$7M-
$7M-
$7M-
$7M-
$6M-
$6M-
$6M-
$5M-
$4M-
$4M-
$4M-
$4M-
$4M-
$4M-
$4M-
$4M-
$4M-
$3M-
$3M-
$3M-
$3M-
$3M-
$3M-
$2M-
$2M-
$2M-
$2M-
$2M-
$2M-
$1M-
$1M-
$1M-
$927K-
$820K-
$699K-
$659K-
$289K-
$160K-
$80K-
$9K-
$1K-
$0K-
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