Latest Ratios: P/E Ratio -54.7x · EV/EBITDA 6.3x · ROE -11.3%. (2022–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Market Cap | $3.1B | $2.6B | $624M | — | — |
| Enterprise Value | $2.8B | $2.3B | $527M | — | — |
| P/E Ratio → | -54.67 | — | — | — | — |
| P/S Ratio | 2.30 | 1.98 | 0.85 | — | — |
| P/B Ratio | 5.62 | 5.22 | 1.50 | — | — |
| P/FCF | 37.46 | 32.18 | — | — | — |
| P/OCF | 5.97 | 5.13 | 5.70 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| EV / Revenue | — | 1.75 | 0.72 | — | — |
| EV / EBITDA | 6.31 | 5.32 | 2.89 | — | — |
| EV / EBIT | 7.56 | 9.36 | — | — | — |
| EV / FCF | — | 28.40 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Gross Margin | 38.0% | 38.0% | 30.2% | 16.3% | 27.3% |
| Operating Margin | 27.4% | 27.4% | 18.2% | 6.5% | 20.3% |
| Net Profit Margin | -3.9% | -3.9% | -15.8% | -31.8% | -1.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | -11.3% | -11.3% | -29.1% | -85.0% | -6.7% |
| ROA | -3.0% | -3.0% | -10.2% | -25.9% | -1.1% |
| ROIC | 106.6% | 106.6% | 31.1% | 14.4% | 85.3% |
| ROCE | 37.0% | 37.0% | 17.3% | 7.6% | 32.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 0.34 | 0.34 | 0.31 | 0.27 | 0.48 |
| Debt / EBITDA | 0.39 | 0.39 | 0.70 | 1.17 | 0.28 |
| Net Debt / Equity | — | -0.61 | -0.23 | -0.14 | 0.08 |
| Net Debt / EBITDA | -0.71 | -0.71 | -0.53 | -0.62 | 0.04 |
| Debt / FCF | — | -3.78 | — | — | 1.36 |
| Interest Coverage | 22.34 | 22.34 | -0.77 | -5.75 | 3.41 |
Net cash position: cash ($480M) exceeds total debt ($170M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 0.77 | 0.77 | 0.93 | 1.17 | 0.68 |
| Quick Ratio | 0.63 | 0.63 | 0.59 | 0.82 | 0.41 |
| Cash Ratio | 0.49 | 0.49 | 0.46 | 0.64 | 0.19 |
| Asset Turnover | — | 0.63 | 0.55 | 0.69 | 1.02 |
| Inventory Turnover | 5.89 | 5.89 | 3.09 | 6.23 | 7.69 |
| Days Sales Outstanding | — | 20.36 | 17.82 | 13.43 | 20.74 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — |
| FCF Yield | 2.7% | 3.1% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $115M | $90M | $84M | $84M |
Jurisdictional and capital intensity
As reported in financial statements, Allied Gold's gross margin has fluctuated significantly, ranging from a low of 24.2% in 2025Q1 to a high of 44.5% in 2025Q4, indicating that the company's cost structure remains highly sensitive to operational variables and the specific grade of ore processed.
The wide variance in gross margins suggests that the company is still navigating the integration of disparate mining assets with varying cost profiles. Investors should monitor whether the recent stabilization toward the 42% level represents a sustainable improvement in mining efficiency or merely a temporary benefit from favorable ore grades.
Based on the company's reported figures, ROIC has exhibited extreme volatility, swinging from a low of 4.1% in 2023Q4 to a peak of 42.3% in 2025Q4, which suggests that the firm is struggling to maintain a consistent return profile while aggressively expanding its asset base.
The sharp decline in ROIC to 31.1% in 2026Q1, despite previous highs, warrants further investigation into whether capital deployment at the Kurmuk project is diluting the returns generated by the mature Ivorian assets. This inconsistency implies that the company's ability to compound capital is currently tethered to the success of its development pipeline rather than core operational efficiency.
According to recent quarterly filings, the cash conversion cycle has shown significant instability, ranging from a negative 9 days in 2023Q4 to a peak of 52 days in 2024Q4, reflecting the challenges of managing inventory and payables across multiple African jurisdictions and complex supply chains.
The current 24-day cycle in 2026Q1 suggests that the company is still refining its working capital management following the recent merger. Investors should monitor whether the recent increase in days inventory outstanding indicates a buildup of sub-economic ore or a strategic decision to buffer against supply chain disruptions in Mali.
Based on the company's reported figures, total debt has climbed from $102.9 million in 2023Q4 to $247.5 million in 2026Q1, pushing the debt-to-equity ratio to 0.55, which suggests that management is increasingly relying on external financing to fund its ambitious development pipeline and operational requirements.
While the interest coverage ratio of 61.13 in 2026Q1 appears robust, this figure is highly sensitive to the volatility of operating income and may not reflect the true long-term debt service burden. The trend toward higher leverage warrants caution, as the company's ability to refinance depends heavily on the successful commissioning of the Kurmuk project.
As reported in financial statements, the market's reliance on P/E multiples for Allied Gold is fundamentally flawed, as the company's net income is heavily distorted by non-cash purchase price accounting adjustments and merger-related costs that do not reflect the underlying cash-generating capacity of the mining assets.
Investors should instead focus on EV/EBITDA or price-to-free-cash-flow metrics to better gauge the company's valuation relative to its peers. Relying on P/E ratios in this context obscures the true earning power of the business and may lead to an inaccurate assessment of the company's valuation discount.
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Quick answers to the most common questions about buying AAUC stock.
Allied Gold Corporation's current P/E ratio is -54.7x. This places it at the 50th percentile of its historical range.
Allied Gold Corporation's current EV/EBITDA is 6.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 4.1x.
Allied Gold Corporation's return on equity (ROE) is -11.3%. The historical average is -33.0%.
Based on historical data, Allied Gold Corporation is trading at a P/E of -54.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Allied Gold Corporation has 38.0% gross margin and 27.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Allied Gold Corporation's Debt/EBITDA ratio is 0.4x, indicating low leverage. A ratio below 2x is generally considered financially healthy.