Metals & Mining Valuation Multiples and Public Comps

Metals & Mining

See analyst estimates and all valuation multiples for Metals & Mining

Company	EV	EV/LTM Revenue	EV/LTM EBITDA
BHP Group	$152B	3.0x	6.0x
Rio Tinto Ltd	$134B	2.5x	6.0x
Rio Tinto plc	$115B	2.1x	5.0x
Zijin Mining	$108B	2.2x	10.9x
Glencore	$84.8B	0.4x	6.3x
Newmont	$84.3B	4.2x	7.9x
Southern Copper	$82.4B	6.9x	12.2x
Agnico Eagle Mines	$72.7B	7.2x	11.3x
Howmet Aerospace	$72.6B	9.2x	33.0x
Freeport-McMoRan	$69.3B	2.6x	6.5x
Maaden	$61.2B	6.5x	16.9x
Vale	$57.9B	1.5x	4.0x
Grupo México	$52.3B	3.0x	5.8x
Barrick Mining	$45.6B	3.1x	5.3x
Wheaton Precious Metals	$44.7B	25.5x	32.4x
Anglo American	$41.3B	1.9x	6.0x
JSW Steel	$40.7B	2.0x	12.7x
Amman Mineral Internasion	$40.5B	17.4x	31.0x
CMOC Group	$38.8B	1.3x	8.0x
Nucor	$38.0B	1.2x	8.6x
Fortescue	$37.5B	2.5x	4.9x
Franco-Nevada	$36.2B	24.8x	28.0x
Bayan Resources	$36.1B	n/a	n/a
Nippon Steel	$34.7B	0.6x	5.1x
ArcelorMittal	$33.5B	0.5x	4.8x
Tata Steel	$32.2B	1.3x	9.5x
Gold Fields	$31.5B	4.4x	7.0x
Antofagasta	$30.1B	4.0x	7.1x
Anglogold Ashanti	$29.7B	3.7x	6.6x
Shandong Gold Mining	$28.2B	2.0x	10.9x
Kinross Gold	$26.0B	4.2x	7.5x
Shaanxi Coal Industry	$25.8B	1.1x	3.8x
Yankuang Group	$25.8B	1.5x	4.9x
Vedanta	$25.5B	1.4x	5.0x
Baosteel	$25.0B	0.6x	5.8x
POSCO Holdings	$23.8B	0.5x	5.0x
Coal India	$23.7B	1.4x	4.5x
Hindalco	$23.1B	0.8x	6.2x
Aluminum Corp of China	$22.4B	0.7x	4.2x
Steel Dynamics	$22.3B	1.2x	9.3x
Hindustan Zinc	$21.6B	5.4x	10.5x
Teck Resources	$19.6B	2.4x	6.4x
First Quantum Minerals	$19.6B	4.0x	12.1x
China Coal	$19.1B	0.8x	3.6x
Northern Star Resources	$18.3B	4.2x	8.0x
Fresnillo	$17.1B	4.5x	8.7x
China Steel	$17.0B	1.5x	14.3x
Reliance	$16.8B	1.2x	11.9x
Norsk Hydro	$13.8B	0.7x	4.9x
Industrias Penoles	$13.8B	0.1x	0.3x
Cerro Verde	$13.7B	3.3x	6.6x
Alamos Gold	$13.4B	8.0x	13.3x
Korea Zinc	$13.2B	1.3x	13.5x
Jindal Steel	$12.8B	2.1x	10.4x
Metlen Energy & Metals	$12.4B	n/a	n/a
ATI	$12.4B	2.7x	15.5x
Carpenter Technology	$12.3B	4.1x	17.8x
Ivanhoe Mines	$12.3B	40.2x	19.8x
Pan American Silver	$12.2B	3.8x	8.6x
MP Materials	$12.1B	45.5x	-857.6x
Royal Gold	$12.0B	14.1x	17.3x
Boliden	$11.7B	1.2x	6.3x
Mueller Industries	$9.6B	2.4x	n/a
Alcoa	$9.1B	0.7x	5.1x
Coeur Mining	$9.1B	5.6x	12.4x
KGHM	$8.6B	0.9x	3.9x
Harmony Gold Mining Co	$8.2B	1.9x	5.1x
ESAB	$7.9B	3.0x	15.0x
Gerdau	$7.9B	0.6x	4.1x
Companhia Siderurgica	$7.8B	1.0x	4.0x
South32	$7.8B	1.3x	4.5x
Commercial Metals	$6.9B	0.9x	8.2x
Iamgold	$6.4B	2.8x	5.4x
Hecla Mining	$6.2B	6.0x	15.2x
OR Royalties	$6.1B	26.1x	30.4x
Ternium	$5.7B	0.3x	3.0x
Triple Flag Precious	$5.7B	17.5x	21.5x
Hudbay Minerals	$5.3B	2.4x	5.3x
Eldorado Gold	$5.3B	3.4x	6.6x
Aurubis	$5.0B	0.2x	7.2x
Compania De Minas	$4.6B	3.6x	n/a
First Majestic Silver	$4.5B	5.0x	11.9x
SSAB	$4.4B	0.4x	3.8x
Acerinox	$4.4B	0.7x	7.9x
CSN Mineracao	$4.2B	1.5x	4.3x
SSR Mining	$4.0B	2.9x	8.8x
Constellium	$4.0B	0.5x	6.3x
Minsur	$3.9B	1.4x	2.4x
Eramet	$3.7B	1.0x	7.8x
Metalurgica Gerdau	$3.7B	n/a	n/a
Sandstorm Gold	$3.6B	18.7x	24.2x
Grupo Simec	$2.8B	n/a	n/a
Grupa Kęty	$2.8B	1.8x	10.1x
thyssenkrupp	$2.7B	0.1x	1.8x
Nanshan Aluminium Intl	$2.6B	n/a	n/a
Century Aluminum	$2.5B	1.0x	7.1x
CAP	$2.4B	1.3x	4.7x
Compania Minera Poderosa	$2.3B	n/a	n/a
Kaiser Aluminum	$2.3B	0.7x	9.2x
Salzgitter	$2.3B	0.2x	5.0x
Fortuna Mining	$2.2B	2.2x	4.1x
Nexa Res	$2.2B	0.8x	3.5x
Industrias Ch	$2.1B	0.9x	3.9x
Seabridge Gold	$2.1B	n/a	-153.5x
Ero Copper	$2.1B	3.1x	6.2x
TMC The Metals Co	$2.1B	n/a	-30.3x
Minera Frisco	$2.1B	n/a	n/a
Outokumpu	$2.1B	0.3x	7.9x
Endeavour Silver	$2.0B	5.7x	23.6x
Granges	$2.0B	0.7x	7.6x
Skeena Resources	$2.0B	n/a	n/a
Elvalhalcor	$1.9B	0.5x	6.4x
Peabody Energy	$1.8B	0.5x	3.3x
Alleima	$1.8B	0.9x	6.8x
Worthington Steel	$1.8B	0.6x	8.1x
Invercap	$1.8B	n/a	n/a
Aluar Aluminio Argentino	$1.8B	n/a	n/a
International Gemological Institute	$1.6B	12.4x	21.2x
Perpetua Resources	$1.6B	n/a	n/a
Compass Minerals Intl	$1.6B	1.3x	8.0x
AMG Critical Materials	$1.5B	0.9x	7.1x
AMAG Austria Metall	$1.4B	0.9x	8.8x
Usinas Siderurgicas	$1.3B	0.3x	3.7x
MAC Copper	$1.3B	3.4x	6.9x
Centerra Gold	$1.2B	1.0x	3.2x
Ternium Argentina	$1.2B	n/a	n/a
JSW S.A.	$1.1B	0.4x	2.9x
Molibdenos y Metales	$1.1B	n/a	n/a
Volcan Compania Minera	$1.1B	n/a	n/a
Corporacion Aceros	$1.0B	n/a	n/a
Companhia Brasileira de	$1.0B	0.6x	4.2x
Paranapanema	$990M	n/a	n/a
Tubacex	$984M	1.0x	7.0x
Troax Group	$941M	3.0x	15.3x
Algoma Steel Group	$920M	n/a	n/a
Atalaya Mining Copper	$920M	2.0x	6.5x
Sociedad Punta del Cobre	$918M	n/a	n/a
Cia Electro Metalurgica	$877M	n/a	n/a
Tupy	$847M	0.4x	3.9x
Ferroglobe	$843M	0.6x	9.9x
Solaris Resources	$830M	n/a	-14.4x
Sigma Lithium	$819M	5.0x	48.4x
McEwen	$806M	4.0x	10.1x
KME Group	$794M	n/a	n/a
Lithium Argentina	$692M	n/a	-21.5x
Coronado Global Resources	$662M	0.3x	100.5x
Mineros	$659M	1.0x	n/a
Osisko Development	$652M	n/a	n/a
Olympic Steel	$630M	0.3x	8.9x
NWPX Infrastructure	$630M	1.3x	9.6x
Alro	$616M	n/a	n/a
Critical Metals	$588M	n/a	n/a
Visne Madencilik	$578M	n/a	n/a
Cognor Holding	$545M	0.7x	14.4x
Metallus	$503M	0.4x	5.9x
Sociedad Minera El Brocal	$479M	n/a	n/a
Mennica Polska	$453M	n/a	n/a
Lithium Americas	$386M	n/a	-12.8x
Tubos Reunidos	$386M	n/a	n/a
Ferbasa	$385M	n/a	n/a
Endomines Finland	$378M	7.7x	21.6x
Lifezone Metals	$356M	7767.6x	-13.7x
Nexa Resources Peru	$341M	n/a	n/a
NioCorp Developments	$316M	n/a	-20.9x
Cintac	$300M	n/a	n/a
Tharisa	$285M	0.5x	2.2x
Hycroft Mining Holding	$275M	46.5x	-6.9x
Compania Minera Autlan	$274M	0.8x	7.0x
Nordic Mining	$272M	35.5x	-19.5x
Sherritt	$271M	2.4x	15.6x
Rana Gruber	$262M	1.6x	4.6x
Nouveau Monde Graphite	$257M	n/a	n/a
Aclara Resources	$230M	n/a	-41.1x
Bravo Mining	$228M	n/a	-118.1x
Ramada Investimentos	$222M	16.9x	20.5x
ZJK Industrial	$216M	n/a	n/a
Foraco Intl	$214M	0.8x	3.9x
Sociedad Minera Corona	$205M	n/a	n/a
PanAtlantica	$189M	n/a	n/a
Friedman Indus	$188M	n/a	n/a
Vox Royalty	$187M	14.8x	29.0x
Largo	$183M	1.5x	-183.3x
U.S. Gold	$182M	n/a	-15.1x
Namib Minerals	$165M	n/a	n/a
Mangata Holding	$157M	0.7x	5.4x
Antioquia Gold	$145M	n/a	n/a
Unior Kovaska industrija	$142M	n/a	n/a
Gruvaktiebolaget Viscaria	$139M	n/a	-26.4x
BE Group	$130M	n/a	n/a
ProfilGruppen	$130M	n/a	n/a
Stalprodukt	$128M	0.1x	2.0x
Asturiana de Laminados	$116M	n/a	n/a
Odyssey Marine Explr	$116M	n/a	n/a
Minera IRL	$113M	n/a	n/a
HAKI Safety	$109M	0.9x	6.1x
Mangels Industrial	$109M	n/a	n/a
US Goldmining	$108M	n/a	n/a
FST	$104M	n/a	n/a
Atlas Lithium	$102M	n/a	n/a
KEFI Gold and Copper	$100M	n/a	-26.9x
Izostal	$99.3M	n/a	n/a
NexMetals Mining	$97.2M	n/a	n/a
Mingteng International	$81.1M	n/a	n/a
Elastron	$80.6M	n/a	n/a
Makstil	$76.7M	n/a	n/a
Installux	$76.1M	n/a	n/a
Ascent Industries	$74.8M	0.4x	n/a
Scully Royalty	$73.0M	n/a	n/a
Afarak Group	$71.9M	n/a	n/a
Gulf Island Fabrication	$69.5M	0.5x	7.1x
AGES Industri	$68.0M	0.5x	n/a
MFO	$67.5M	n/a	n/a
Electra Battery Materials	$65.4M	n/a	n/a
Akobo Minerals	$63.4M	n/a	n/a
Hongli Group	$58.4M	n/a	n/a
Botnia Exploration Hldgs	$56.8M	9.4x	n/a
Sotkamo Silver	$55.3M	0.1x	0.5x
Componenta	$54.0M	0.4x	5.6x
Wishbone Gold	$44.7M	n/a	n/a
Pulsar Helium	$44.3M	n/a	n/a
Odlewnie Polskie	$32.7M	n/a	n/a
ZBM ZREMB-Chojnice	$30.9M	n/a	n/a
Fabryki Sprzetu I	$27.9M	n/a	n/a
Liberti Skopje	$26.5M	n/a	n/a
Euromax Resources	$26.2M	n/a	n/a
Drillcon	$24.3M	n/a	n/a
Nordic Iron Ore	$23.9M	n/a	n/a
Bluelake Mineral	$22.7M	n/a	n/a
Alumil Rom Industry	$20.5M	n/a	n/a
Bowim	$18.3M	n/a	n/a
PGF Polska Grupa	$13.9M	n/a	n/a
Coil	$10.2M	n/a	n/a
Lappland	$9.7M	n/a	n/a
Cell Impact	$8.5M	2.2x	-1.2x
Mahvie Minerals	$8.3M	n/a	n/a
Gold By Gold	$8.2M	n/a	n/a
Pearl Gold	$8.1M	n/a	n/a
Nordic Flanges Group	$5.0M	0.2x	44.0x
Green Minerals	$4.2M	n/a	n/a
Lovisagruvan	$4.0M	n/a	n/a
Precomp Solutions	$3.7M	n/a	n/a
Eurobattery Minerals	$3.3M	n/a	n/a
Galvo	$2.8M	n/a	n/a
Africa Resources	$1.1M	n/a	n/a
EKOPOL Gornoslaski	$1.1M	n/a	n/a
Amnode	$0.8M	n/a	n/a
Zamet	-$4.9M	n/a	n/a