Sandstorm Gold - Public Comps and Valuation Multiples

Sandstorm Gold Overview

About Sandstorm Gold

Sandstorm Gold Ltd provides financing to companies engaged in gold mining through the gold stream and royalty. Geographically, the company has operational footprints in North America, South & Central America, Africa, and Asia & Australia. The firm's royalties include Hod Maden, Santa Elena, Chapada, Platreef, Greenstone, and Cerro Moro.

Founded

2007

HQ

Employees

Website

sandstormgold.com

Sectors

Metals & Mining

Financials

LTM Revenue $201M

LTM EBITDA $156M

EV

$3.8B

Valuation Multiples

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Sandstorm Gold Financials

As of August 2025, Sandstorm Gold reported last 12-month revenue of $201M and EBITDA of $156M.

In the same period, Sandstorm Gold generated $176M in LTM gross profit and $48.2M in net income.

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Sandstorm Gold P&L

In the most recent fiscal year, Sandstorm Gold reported revenue of $176M and EBITDA of $127M.

Sandstorm Gold 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	$201M	XXX	$176M	XXX	XXX	XXX
Gross Profit	$176M	XXX	$96.0M	XXX	XXX	XXX
Gross Margin	87%	XXX	54%	XXX	XXX	XXX
EBITDA	$156M	XXX	$127M	XXX	XXX	XXX
EBITDA Margin	78%	XXX	72%	XXX	XXX	XXX
EBIT	n/a	XXX	$71.0M	XXX	XXX	XXX
EBIT Margin	n/a	XXX	40%	XXX	XXX	XXX
Net Profit	$48.2M	XXX	$14.3M	XXX	XXX	XXX
Net Margin	24%	XXX	8%	XXX	XXX	XXX
Net Debt	XXX	XXX	$351M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Sandstorm Gold including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $201M. EBITDA for the last twelve months was $156M. In the most recent fiscal year, Sandstorm Gold achieved $176M in revenue and $127M 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	$201M	Analyst estimates available to subscribers	$176M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$176M	Analyst estimates available to subscribers	$96.0M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	87.5% gross margin	Analyst estimates available to subscribers	54.4% 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)	$156M	Analyst estimates available to subscribers	$127M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	77.6% EBITDA margin	Analyst estimates available to subscribers	72.0% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	n/a	Analyst estimates available to subscribers	$71.0M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	n/a	Analyst estimates available to subscribers	40.3% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$48.2M	Analyst estimates available to subscribers	$14.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	24.0% net profit margin	Analyst estimates available to subscribers	8.1% 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	$351M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Sandstorm Gold

This financial data table provides comprehensive performance metrics for Sandstorm Gold, 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

Sandstorm Gold generated $201M in revenue over the last twelve months.
The company achieved $156M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $176M.
Net income over the last twelve months reached $48.2M.

Fiscal Year Performance

In the most recent fiscal year, Sandstorm Gold reported $176M in total revenue.
Fiscal year EBITDA was $127M.
The company maintained a gross profit margin of 54.4% in the most recent fiscal year.
EBITDA margin for the fiscal year was 72.0%.
Net profit margin reached 8.1% in the most recent fiscal year.

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

Sandstorm Gold Stock Performance

Sandstorm Gold has current market cap of $3.5B, and EV of $3.8B.

Market Cap Evolution

Sandstorm Gold Stock Data

As of September 12, 2025, Sandstorm Gold's stock price is $12.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$3.8B	$3.5B	XXX	XXX	XXX	XXX	$0.15

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Sandstorm Gold Valuation Multiples

Sandstorm Gold's trades at 21.3x EV/Revenue multiple, and 29.6x EV/EBITDA.

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Sandstorm Gold Financial Valuation Multiples

As of September 12, 2025, Sandstorm Gold has market cap of $3.5B and EV of $3.8B.

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

Sandstorm Gold has a P/E ratio of 71.7x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$3.5B	XXX	$3.5B	XXX	XXX	XXX
EV (current)	$3.8B	XXX	$3.8B	XXX	XXX	XXX
EV/Revenue	18.7x	XXX	21.3x	XXX	XXX	XXX
EV/EBITDA	24.0x	XXX	29.6x	XXX	XXX	XXX
EV/EBIT	n/a	XXX	52.8x	XXX	XXX	XXX
EV/Gross Profit	21.3x	XXX	n/a	XXX	XXX	XXX
P/E	71.7x	XXX	241.6x	XXX	XXX	XXX
EV/FCF	26.4x	XXX	30.7x	XXX	XXX	XXX

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

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Sandstorm Gold Margins & Growth Rates

Sandstorm Gold's last 12 month revenue growth is 18%

Sandstorm Gold's revenue per employee in the last FY averaged $6.1M, while opex per employee averaged $0.9M for the same period.

Sandstorm Gold's rule of 40 is 108% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Sandstorm Gold's rule of X is 122% (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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Sandstorm Gold Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	18%	XXX	18%	XXX	XXX	XXX
EBITDA Margin	78%	XXX	72%	XXX	XXX	XXX
EBITDA Growth	19%	XXX	1%	XXX	XXX	XXX
Rule of 40	108%	XXX	90%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	122%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$6.1M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.9M	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	14%	XXX	XXX	XXX

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

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