Osisko Development Corp. (NYSE: ODV)

Sector: Basic Materials Industry: Gold CIK: 0001431852
Market Cap 591.35 Mn
P/B 1.49
P/E -3.25
P/S 72.42
ROIC (Qtr) -25.04
Div Yield % 0.00
Rev 1y % (Qtr) 2,598.82
Total Debt (Qtr) 101.03 Mn
Debt/Equity (Qtr) 0.26
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About

Investment thesis

Bull case

  • Healthy cash reserves of 290.83M provide 79.76x coverage of short-term debt 3.65M, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 843.12M provides 8.35x coverage of total debt 101.03M, indicating robust asset backing and low credit risk.
  • Robust tangible asset base of 843.12M provides 11.70x coverage of working capital 72.05M, indicating strong operational backing.
  • Cash reserves of 290.83M provide robust 1.24x coverage of current liabilities 235.07M, indicating strong short-term solvency.
  • Cash reserves of 290.83M provide solid 2.54x coverage of other non-current liabilities 114.52M, indicating strong liquidity.

Bear case

  • Investment activities of (30.97M) provide weak support for R&D spending of 181884.06, which is -170.26x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • The company's operating cash flow of (39.62M) shows concerning coverage of stock compensation expenses of 3.34M, with a -11.85 ratio indicating potential earnings quality issues.
  • Free cash flow of (77.41M) provides weak coverage of capital expenditures of 37.79M, with a -2.05 ratio suggesting additional external financing needs for growth initiatives.
  • Operating earnings of (169.36M) show weak coverage of depreciation charges of 6.23M, with a -27.17 ratio indicating high capital intensity and potential reinvestment needs.
  • Free cash flow of (77.41M) represents just -1.69x of debt issuance 45.84M, suggesting concerning reliance on leverage rather than internal cash generation for growth.

Peer comparison

Companies in the Gold
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 AEM Agnico Eagle Mines Ltd 106.87 Bn 23.96 8.98 0.32 Bn
2 NEM NEWMONT Corp /DE/ 100.23 Bn 25.64 9.43 5.65 Bn
3 B Barrick Mining Corp 79.50 Bn 15.92 4.69 4.70 Bn
4 WPM Wheaton Precious Metals Corp. 64.59 Bn 64.49 35.29 0.01 Bn
5 FNV FRANCO NEVADA Corp 48.16 Bn 52.35 31.14 0.00 Bn
6 KGC Kinross Gold Corp 41.29 Bn 23.47 6.41 1.24 Bn
7 PAAS Pan American Silver Corp 20.44 Bn 32.24 6.28 0.86 Bn
8 AGI Alamos Gold Inc 18.08 Bn 33.57 11.23 0.28 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.55 3.33
EV to Cash from Ops. EV/CFO -11.64 -11.32
EV to Debt EV to Debt 4.56 525.64
EV to EBIT EV/EBIT -2.72 17.81
EV to EBITDA EV/EBITDA -6.23 3.39
EV to Free Cash Flow [EV/FCF] EV/FCF -5.96 11.13
EV to Market Cap EV to Market Cap 0.78 1.25
EV to Revenue EV/Rev 56.48 8.35
Price to Book Value [P/B] P/B 1.49 5.92
Price to Earnings [P/E] P/E -3.25 32.90
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 1.59
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 5.12
Dividend per Basic Share Div per Share (Qtr) 0.00 0.17
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 9.95
Interest Coverage Int. cover (Qtr) -12.86 407.12
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -19.74 -96.53
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 811.10 134.81
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 -5.81
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -18.02 487.93
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 51.28 54.68
EBIT Growth (1y) % EBIT 1y % (Qtr) -7.80 679.83
EBT Growth (1y) % EBT 1y % (Qtr) -8.23 193.12
EPS Growth (1y) % EPS 1y % (Qtr) 40.71 248.58
FCF Growth (1y) % FCF 1y % (Qtr) -20.14 147.05
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 1,303.93 84.36
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.01 0.26
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.03
Cash Ratio Cash Ratio (Qtr) 1.24 3.07
Current Ratio Curr Ratio (Qtr) 1.31 4.82
Debt to Equity Ratio Debt/Equity (Qtr) 0.26 0.28
Interest Cover Ratio Int Coverage (Qtr) -12.86 407.12
Times Interest Earned Times Interest Earned (Qtr) -12.86 407.12
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -1,997.80 -19.62
EBIT Margin % EBIT Margin % (Qtr) -2,862.28 -44.48
EBT Margin % EBT Margin % (Qtr) -2,235.36 -34.17
Gross Margin % Gross Margin % (Qtr) 37.50 30.57
Net Profit Margin % Net Margin % (Qtr) -2,226.00 -40.06