OR Royalties - Public Comps and Valuation Multiples

OR Royalties Overview

About OR Royalties

OR Royalties Inc, formerly Osisko Gold Royalties Ltd is engaged in the business of acquiring and managing precious metal and other high-quality royalties, streams and similar interests. The Company owns a portfolio of royalties, streams, offtakes, options on royalty/stream financings and exclusive rights to participate in future royalty/stream financings on various projects. Geographically, it generates majority of its income from North America and also generates some portions of income from South America, Australia, Africa and Europe.

Founded

2014

HQ

Employees

Website

orroyalties.com

Sectors

Metals & Mining

Financials

LTM Revenue $238M

LTM EBITDA $204M

EV

$6.8B

Valuation Multiples

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OR Royalties Financials

As of August 2025, OR Royalties reported last 12-month revenue of $238M and EBITDA of $204M.

In the same period, OR Royalties generated $228M in LTM gross profit and $126M in net income.

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OR Royalties P&L

In the most recent fiscal year, OR Royalties reported revenue of $191M and EBITDA of $71.7M.

OR Royalties expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$238M	XXX	$191M	XXX	XXX	XXX
Gross Profit	$228M	XXX	$184M	XXX	XXX	XXX
Gross Margin	96%	XXX	96%	XXX	XXX	XXX
EBITDA	$204M	XXX	$71.7M	XXX	XXX	XXX
EBITDA Margin	86%	XXX	37%	XXX	XXX	XXX
EBIT	$182M	XXX	$129M	XXX	XXX	XXX
EBIT Margin	76%	XXX	68%	XXX	XXX	XXX
Net Profit	$126M	XXX	$16.3M	XXX	XXX	XXX
Net Margin	53%	XXX	9%	XXX	XXX	XXX
Net Debt	XXX	XXX	$34.8M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for OR Royalties including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $238M. EBITDA for the last twelve months was $204M. In the most recent fiscal year, OR Royalties achieved $191M in revenue and $71.7M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$238M	Analyst estimates available to subscribers	$191M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$228M	Analyst estimates available to subscribers	$184M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	96.1% gross margin	Analyst estimates available to subscribers	96.5% 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)	$204M	Analyst estimates available to subscribers	$71.7M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	85.7% EBITDA margin	Analyst estimates available to subscribers	37.5% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$182M	Analyst estimates available to subscribers	$129M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	76.4% EBIT margin	Analyst estimates available to subscribers	67.6% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$126M	Analyst estimates available to subscribers	$16.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	53.1% net profit margin	Analyst estimates available to subscribers	8.5% 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	$34.8M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for OR Royalties

This financial data table provides comprehensive performance metrics for OR Royalties, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

OR Royalties generated $238M in revenue over the last twelve months.
The company achieved $204M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $228M.
Net income over the last twelve months reached $126M.

Fiscal Year Performance

In the most recent fiscal year, OR Royalties reported $191M in total revenue.
Fiscal year EBITDA was $71.7M.
The company maintained a gross profit margin of 96.5% in the most recent fiscal year.
EBITDA margin for the fiscal year was 37.5%.
Net profit margin reached 8.5% in the most recent fiscal year.

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

OR Royalties Stock Performance

OR Royalties has current market cap of $6.8B, and EV of $6.8B.

Market Cap Evolution

OR Royalties Stock Data

As of September 12, 2025, OR Royalties's stock price is $36.

See OR Royalties trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$6.8B	$6.8B	XXX	XXX	XXX	XXX	$0.67

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OR Royalties Valuation Multiples

OR Royalties's trades at 35.3x EV/Revenue multiple, and 94.2x EV/EBITDA.

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OR Royalties Financial Valuation Multiples

As of September 12, 2025, OR Royalties has market cap of $6.8B and EV of $6.8B.

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

OR Royalties has a P/E ratio of 53.6x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$6.8B	XXX	$6.8B	XXX	XXX	XXX
EV (current)	$6.8B	XXX	$6.8B	XXX	XXX	XXX
EV/Revenue	28.4x	XXX	35.3x	XXX	XXX	XXX
EV/EBITDA	33.2x	XXX	94.2x	XXX	XXX	XXX
EV/EBIT	37.2x	XXX	52.2x	XXX	XXX	XXX
EV/Gross Profit	29.6x	XXX	n/a	XXX	XXX	XXX
P/E	53.6x	XXX	415.6x	XXX	XXX	XXX
EV/FCF	43.3x	XXX	78.1x	XXX	XXX	XXX

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

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OR Royalties Margins & Growth Rates

OR Royalties's last 12 month revenue growth is 15%

OR Royalties's revenue per employee in the last FY averaged $7.1M, while opex per employee averaged $2.0M for the same period.

OR Royalties's rule of 40 is 32% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

OR Royalties's rule of X is 124% (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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OR Royalties Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	15%	XXX	21%	XXX	XXX	XXX
EBITDA Margin	86%	XXX	37%	XXX	XXX	XXX
EBITDA Growth	19%	XXX	167%	XXX	XXX	XXX
Rule of 40	32%	XXX	53%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	124%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$7.1M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$2.0M	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	3%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	29%	XXX	XXX	XXX

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

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