Metals X - Public Comps and Valuation Multiples

Metals X Overview

About Metals X

Metals X Ltd is an Australian mining company. The company is engaged exploration and development of base metals projects in Australia. Its project includes the Renison Tin operation through its stake in the Bluestone Mines Tasmania Joint Venture, and others.

Founded

2004

HQ

Employees

175

Website

metalsx.com.au

Sectors

Metals & Mining

Financials

LTM Revenue $190M

LTM EBITDA $85.3M

EV

$558M

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Metals X Financials

As of January 2026, Metals X reported last 12-month revenue of $190M and EBITDA of $85.3M.

In the same period, Metals X generated $84.7M in LTM gross profit and $64.1M in net income.

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Metals X P&L

In the most recent fiscal year, Metals X reported revenue of $151M and EBITDA of $89.5M.

Metals X expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue	$190M	XXX	$151M	XXX	XXX	XXX
Gross Profit	$84.7M	XXX	$71.9M	XXX	XXX	XXX
Gross Margin	45%	XXX	48%	XXX	XXX	XXX
EBITDA	$85.3M	XXX	$89.5M	XXX	XXX	XXX
EBITDA Margin	45%	XXX	59%	XXX	XXX	XXX
EBIT	$84.4M	XXX	$59.7M	XXX	XXX	XXX
EBIT Margin	44%	XXX	40%	XXX	XXX	XXX
Net Profit	$64.1M	XXX	$70.6M	XXX	XXX	XXX
Net Margin	34%	XXX	47%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Metals X including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $190M. EBITDA for the last twelve months was $85.3M. In the most recent fiscal year, Metals X achieved $151M in revenue and $89.5M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2026)	Next Fiscal Year (2027)	Two Years Forward (2028)
Total Revenue	$190M	Analyst estimates available to subscribers	$151M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$84.7M	Analyst estimates available to subscribers	$71.9M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	44.7% gross margin	Analyst estimates available to subscribers	47.7% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$85.3M	Analyst estimates available to subscribers	$89.5M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	45.0% EBITDA margin	Analyst estimates available to subscribers	59.3% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$84.4M	Analyst estimates available to subscribers	$59.7M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	44.5% EBIT margin	Analyst estimates available to subscribers	39.6% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$64.1M	Analyst estimates available to subscribers	$70.6M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	33.8% net profit margin	Analyst estimates available to subscribers	46.8% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Metals X

This financial data table provides comprehensive performance metrics for Metals X, a company based in Australia. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Metals X generated $190M in revenue over the last twelve months.
The company achieved $85.3M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $84.7M.
Net income over the last twelve months reached $64.1M.

Fiscal Year Performance

In the most recent fiscal year, Metals X reported $151M in total revenue.
Fiscal year EBITDA was $89.5M.
The company maintained a gross profit margin of 47.7% in the most recent fiscal year.
EBITDA margin for the fiscal year was 59.3%.
Net profit margin reached 46.8% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Metals X. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Metals X Stock Performance

Metals X has current market cap of AUD 1.0B (or $715M), and EV of AUD 810M (or $558M).

Market Cap Evolution

Metals X Stock Data

As of February 6, 2026, Metals X's stock price is AUD 1 (or $1).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$558M	$715M	XXX	XXX	XXX	XXX	$0.07

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Metals X Valuation Multiples

Metals X's trades at 2.9x EV/Revenue multiple, and 6.5x EV/EBITDA.

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Metals X Financial Valuation Multiples

As of February 6, 2026, Metals X has market cap of $715M and EV of $558M.

Equity research analysts estimate Metals X's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Metals X has a P/E ratio of 11.1x.

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Market cap (current)	$715M	XXX	$715M	XXX	XXX	XXX
EV (current)	$558M	XXX	$558M	XXX	XXX	XXX
EV/Revenue	2.9x	XXX	2.9x	XXX	XXX	XXX
EV/EBITDA	6.5x	XXX	6.5x	XXX	XXX	XXX
EV/EBIT	6.6x	XXX	6.6x	XXX	XXX	XXX
EV/Gross Profit	6.6x	XXX	n/a	XXX	XXX	XXX
P/E	11.1x	XXX	11.1x	XXX	XXX	XXX
EV/FCF	10.3x	XXX	10.3x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Metals X Margins & Growth Rates

Metals X's last 12 month revenue growth is -11%

Metals X's revenue per employee in the last FY averaged $0.9M, while opex per employee averaged $0.1M for the same period.

Metals X's rule of 40 is 10% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Metals X's rule of X is 17% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Metals X Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue Growth	-11%	XXX	-9%	XXX	XXX	XXX
EBITDA Margin	45%	XXX	45%	XXX	XXX	XXX
EBITDA Growth	-14%	XXX	92%	XXX	XXX	XXX
Rule of 40	10%	XXX	34%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	17%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.9M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	8%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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