Triple Flag Precious Metals Corp. (NYSE: TFPM)

Sector: Basic Materials Industry: Other Precious Metals & Mining CIK: 0001829726
Market Cap 7.13 Bn
P/B 3.60
P/E 34.87
P/S 20.73
ROIC (Qtr) 9.30
Div Yield % 0.45
Rev 1y % (Qtr) 26.86
Total Debt (Qtr) 14.50 Mn
Debt/Equity (Qtr) 0.01
Add ratio to table...

About

Investment thesis

Bull case

  • Strong operating cash flow of 286.81M provides robust 19.78x coverage of total debt 14.50M, indicating excellent debt servicing capability and financial flexibility.
  • Healthy cash reserves of 8.91M provide 24.22x coverage of short-term debt 368000, demonstrating strong liquidity position and minimal refinancing risk.
  • Operating cash flow of 286.81M provides strong 630.35x coverage of stock compensation 455000, indicating sustainable incentive practices.
  • Strong tangible asset base of 2.05B provides 141.15x coverage of total debt 14.50M, indicating robust asset backing and low credit risk.
  • Operating cash flow of 286.81M provides exceptional 75.77x coverage of interest expenses 3.79M, showing strong debt service capability.

Bear case

  • Operating cash flow of 286.81M barely covers its investment activities of (217.39M), with a coverage ratio of -1.32, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Operating cash flow of 286.81M provides thin coverage of dividend payments of (45.04M) with a -6.37 ratio, suggesting potential dividend sustainability issues if operational performance deteriorates.
  • Free cash flow of 63.08M provides weak coverage of capital expenditures of 223.73M, with a 0.28 ratio suggesting additional external financing needs for growth initiatives.
  • Operating earnings of 229.87M show weak coverage of depreciation charges of 79.38M, with a 2.90 ratio indicating high capital intensity and potential reinvestment needs.
  • Operating cash flow of 286.81M barely covers operating expenses of (4.30M) with a -66.70 ratio, suggesting thin operational efficiency margins and limited flexibility.

Peer comparison

Companies in the Other Precious Metals & Mining
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 HL Hecla Mining Co/De/ 13.92 Bn 43.35 9.78 275.80 Mn
2 TFPM Triple Flag Precious Metals Corp. 7.13 Bn 34.87 20.73 14.50 Mn
3 PPTA Perpetua Resources Corp. 2.49 Bn -56.16 0.00 0.05 Mn
4 ASM Avino Silver & Gold Mines Ltd 1.28 Bn 82.71 20.45 3.38 Mn
5 MUX McEwen Inc. 1.25 Bn -104.83 7.51 127.73 Mn
6 MTA Metalla Royalty & Streaming Ltd. 0.74 Bn -347.30 96.23 8.77 Mn
7 NEWP New Pacific Metals Corp 0.58 Bn -195.22 0.00 0.00 Mn
8 ELE Elemental Royalty Corp 0.30 Bn -829.72 18.50 0.00 Mn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 3.45 0.38
EV to Cash from Ops. EV/CFO 24.58 46.96
EV to Debt EV to Debt 486.28 3,165.55
EV to EBIT EV/EBIT 30.67 -95.38
EV to EBITDA EV/EBITDA 25.52 4.86
EV to Free Cash Flow [EV/FCF] EV/FCF 111.76 31.14
EV to Market Cap EV to Market Cap 0.99 0.86
EV to Revenue EV/Rev 20.49 13.34
Price to Book Value [P/B] P/B 3.60 6.32
Price to Earnings [P/E] P/E 34.87 -125.76
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Div Coverage (Qtr) 4.54 2.56
Dividend Payout Ratio % Div Payout % (Qtr) 16.20 -10.52
Dividend per Basic Share Div per Share (Qtr) 0.17 0.02
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 52.55 3.93
Interest Coverage Int. cover (Qtr) 60.73 9.92
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -180.69 -825.54
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -62.23 689.03
Dividend Growth (1y) % Div 1y % (Qtr) -21.43 -3.81
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 524.91 85.08
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 962.54 150.70
EBIT Growth (1y) % EBIT 1y % (Qtr) 616.15 97.21
EBT Growth (1y) % EBT 1y % (Qtr) 554.79 107.49
EPS Growth (1y) % EPS 1y % (Qtr) 492.31 129.12
FCF Growth (1y) % FCF 1y % (Qtr) -41.57 414.62
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 64.64 41.58
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.17 0.15
Cash Payout Ratio Cash Payout (Qtr) 0.09 0.01
Cash Ratio Cash Ratio (Qtr) 0.24 9.29
Current Ratio Curr Ratio (Qtr) 1.68 12.32
Debt to Equity Ratio Debt/Equity (Qtr) 0.01 0.07
Interest Cover Ratio Int Coverage (Qtr) 60.73 9.92
Times Interest Earned Times Interest Earned (Qtr) 60.73 9.92
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) 89.90 -110.37
EBIT Margin % EBIT Margin % (Qtr) 66.82 -125.82
EBT Margin % EBT Margin % (Qtr) 65.72 -136.05
Gross Margin % Gross Margin % (Qtr) 64.70 27.60
Net Profit Margin % Net Margin % (Qtr) 59.40 -140.71