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Ivanhoe Mines Valuation Multiples
Discover revenue and EBITDA valuation multiples for Ivanhoe Mines and similar public comparables like First Majestic Silver, Equinox Gold, South32, Hecla Mining and more.
Ivanhoe Mines Overview
About Ivanhoe Mines
Ivanhoe Mines Ltd is a diversified mining company focused on advancing its four principal projects in Southern Africa namely the Kamoa-Kakula Copper Complex, a large, high-grade, stratiform copper deposit, Platreef Project, where the Company discovered thick and high-grade palladium, nickel, platinum, rhodium, copper and gold deposit, The Kipushi Project, a past-producing, high-grade underground zinc-copper-germanium-silverlead mine, The Western Foreland Exploration Project, a group of exploration licences. The Company has four reportable segments, including the Platreef property, Kamoa Holding joint venture, Kipushi properties, and the Company's treasury offices.
Founded
1993
HQ
Employees
1.8K
Website
Sectors
Financials (LTM)
EV
$16B
Ivanhoe Mines Financials
Ivanhoe Mines reported last 12-month revenue of $534M and EBITDA of $674M.
In the same LTM period, Ivanhoe Mines generated $99M in gross profit, $674M in EBITDA, and $313M in net income.
Revenue (LTM)
Ivanhoe Mines P&L
In the most recent fiscal year, Ivanhoe Mines reported revenue of $442M and EBITDA of $573M.
Ivanhoe Mines expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $534M | XXX | $442M | XXX | XXX | XXX |
| Gross Profit | $99M | XXX | $17M | XXX | XXX | XXX |
| Gross Margin | 19% | XXX | 4% | XXX | XXX | XXX |
| EBITDA | $674M | XXX | $573M | XXX | XXX | XXX |
| EBITDA Margin | 126% | XXX | 130% | XXX | XXX | XXX |
| EBIT Margin | 13% | XXX | 4% | XXX | XXX | XXX |
| Net Profit | $313M | XXX | $262M | XXX | XXX | XXX |
| Net Margin | 59% | XXX | 59% | XXX | XXX | XXX |
| Net Debt | — | — | $492M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Ivanhoe Mines Stock Performance
Ivanhoe Mines has current market cap of $16B, and enterprise value of $16B.
Market Cap Evolution
Ivanhoe Mines' stock price is $10.89.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $16B | $16B | 0.2% | XXX | XXX | XXX | $0.18 |
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Start Free TrialIvanhoe Mines Valuation Multiples
Ivanhoe Mines trades at 29.8x EV/Revenue multiple, and 23.6x EV/EBITDA.
EV / Revenue (LTM)
Ivanhoe Mines Financial Valuation Multiples
As of April 2, 2026, Ivanhoe Mines has market cap of $16B and EV of $16B.
Equity research analysts estimate Ivanhoe Mines' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Ivanhoe Mines has a P/E ratio of 49.6x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $16B | XXX | $16B | XXX | XXX | XXX |
| EV (current) | $16B | XXX | $16B | XXX | XXX | XXX |
| EV/Revenue | 29.8x | XXX | 36.1x | XXX | XXX | XXX |
| EV/EBITDA | 23.6x | XXX | 27.8x | XXX | XXX | XXX |
| EV/EBIT | 221.3x | XXX | 850.4x | XXX | XXX | XXX |
| EV/Gross Profit | 160.4x | XXX | 939.0x | XXX | XXX | XXX |
| P/E | 49.6x | XXX | 59.4x | XXX | XXX | XXX |
| EV/FCF | (34.2x) | XXX | (33.9x) | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Ivanhoe Mines Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Ivanhoe Mines Margins & Growth Rates
Ivanhoe Mines' revenue in the last 12 month grew by 60%.
Ivanhoe Mines' revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.1M for the same period.
Ivanhoe Mines' rule of 40 is 204% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Ivanhoe Mines' rule of X is 329% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Ivanhoe Mines Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 60% | XXX | 83% | XXX | XXX | XXX |
| EBITDA Margin | 126% | XXX | 130% | XXX | XXX | XXX |
| EBITDA Growth | 59% | XXX | 70% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 204% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 329% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 14% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 25% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Ivanhoe Mines Public Comps
See public comps and valuation multiples for other Metals & Mining comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| First Majestic Silver | XXX | XXX | XXX | XXX | XXX | XXX |
| Equinox Gold | XXX | XXX | XXX | XXX | XXX | XXX |
| South32 | XXX | XXX | XXX | XXX | XXX | XXX |
| Hecla Mining | XXX | XXX | XXX | XXX | XXX | XXX |
| Endeavour Mining | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Ivanhoe Mines M&A Activity
Ivanhoe Mines acquired XXX companies to date.
Last acquisition by Ivanhoe Mines was on XXXXXXXX, XXXXX. Ivanhoe Mines acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Ivanhoe Mines
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialIvanhoe Mines Investment Activity
Ivanhoe Mines invested in XXX companies to date.
Ivanhoe Mines made its latest investment on XXXXXXXX, XXXXX. Ivanhoe Mines invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Ivanhoe Mines
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Ivanhoe Mines
| When was Ivanhoe Mines founded? | Ivanhoe Mines was founded in 1993. |
| Where is Ivanhoe Mines headquartered? | Ivanhoe Mines is headquartered in Canada. |
| How many employees does Ivanhoe Mines have? | As of today, Ivanhoe Mines has over 1K employees. |
| Who is the CEO of Ivanhoe Mines? | Ivanhoe Mines' CEO is Robert M. Friedland. |
| Is Ivanhoe Mines publicly listed? | Yes, Ivanhoe Mines is a public company listed on Tokyo Stock Exchange. |
| What is the stock symbol of Ivanhoe Mines? | Ivanhoe Mines trades under IVN ticker. |
| When did Ivanhoe Mines go public? | Ivanhoe Mines went public in 2012. |
| Who are competitors of Ivanhoe Mines? | Ivanhoe Mines main competitors are First Majestic Silver, Equinox Gold, South32, Hecla Mining. |
| What is the current market cap of Ivanhoe Mines? | Ivanhoe Mines' current market cap is $16B. |
| What is the current revenue of Ivanhoe Mines? | Ivanhoe Mines' last 12 months revenue is $534M. |
| What is the current revenue growth of Ivanhoe Mines? | Ivanhoe Mines revenue growth (NTM/LTM) is 60%. |
| What is the current EV/Revenue multiple of Ivanhoe Mines? | Current revenue multiple of Ivanhoe Mines is 29.8x. |
| Is Ivanhoe Mines profitable? | Yes, Ivanhoe Mines is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Ivanhoe Mines? | Ivanhoe Mines' last 12 months EBITDA is $674M. |
| What is Ivanhoe Mines' EBITDA margin? | Ivanhoe Mines' last 12 months EBITDA margin is 126%. |
| What is the current EV/EBITDA multiple of Ivanhoe Mines? | Current EBITDA multiple of Ivanhoe Mines is 23.6x. |
| What is the current FCF of Ivanhoe Mines? | Ivanhoe Mines' last 12 months FCF is ($466M). |
| What is Ivanhoe Mines' FCF margin? | Ivanhoe Mines' last 12 months FCF margin is (87%). |
| What is the current EV/FCF multiple of Ivanhoe Mines? | Current FCF multiple of Ivanhoe Mines is (34.2x). |
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