Latest Ratios: P/E Ratio -10.3x · EV/EBITDA N/A · ROE -27.1%. (2011–2025 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 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $253M | $373M | — | — | — | — | — | — | — | — | $60M |
| Enterprise Value | $209M | $312M | — | — | — | — | — | — | — | — | $56M |
| P/E Ratio → | -10.29 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 2.43 | 2.82 | — | — | — | — | — | — | — | — | 7.60 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — | — |
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 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
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 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -27.1% | -27.1% | -22.5% | -29.9% | -33.2% | -35.3% | -42.0% | -68.2% | -106.3% | -73.2% | -101.6% |
| ROA | -25.4% | -25.4% | -21.9% | -29.1% | -32.0% | -34.0% | -39.9% | -65.2% | -100.6% | -67.5% | -77.9% |
| ROIC | -39.5% | -39.5% | -27.5% | -33.1% | -45.7% | -189.0% | -159.0% | -106.2% | -190.6% | -157.1% | -113.6% |
| ROCE | -31.7% | -31.7% | -28.2% | -34.6% | -37.8% | -40.0% | -44.1% | -79.6% | -116.5% | -78.3% | -96.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | — | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.46 | -0.31 | -0.12 | -0.30 | -0.78 | -0.89 | -0.48 | -0.39 | -0.64 | -0.59 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | -14.31 |
Net cash position: cash ($61M) exceeds total debt ($0)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.70 | 5.70 | 7.86 | 14.26 | 7.05 | 46.05 | 16.86 | 12.36 | 9.54 | 16.72 | 9.02 |
| Quick Ratio | 5.70 | 5.70 | 7.86 | 14.26 | 7.05 | 46.05 | 16.86 | 12.36 | 9.54 | 16.72 | 9.02 |
| Cash Ratio | 5.55 | 5.55 | 7.77 | 12.42 | 6.95 | 45.04 | 16.70 | 10.53 | 8.30 | 16.32 | 8.28 |
| Asset Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
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 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — | — | — | — | — | — | — | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | — | — | — | — | — | — | — | — | 0.0% |
| Shares Outstanding | — | $84M | $294M | $257M | $215M | $131M | $103M | $68M | $50M | $39M | $24M |
Exploration funding and dilution
Based on reported figures, DVS trades at a price-to-book ratio of 2.43, which appears to command a premium relative to its status as a pre-revenue explorer, likely driven by the strategic value of its consolidated Kitsault Valley land package and the potential for future M&A activity.
The valuation multiple suggests that investors are pricing in the geological potential of the Homestake Ridge acquisition rather than current financial performance. This premium warrants caution, as it implies that the market expects significant resource expansion to justify the current valuation in the absence of any near-term revenue generation.
As reported in financial statements, the company's ROIC has fluctuated significantly, reaching a low of -17.8% in 2025Q3, which is consistent with a business model that prioritizes aggressive capital deployment into non-yielding exploration assets over immediate operational efficiency or profitability.
The persistent negative return on capital is a structural feature of the exploration stage, where capital is consumed to define mineral resources rather than to generate returns. Investors should monitor whether the company can eventually transition these expenditures into a high-return mining operation, as current metrics reflect only the cost of asset creation.
According to recent financial filings, DVS maintains a robust liquidity position with a current ratio of 5.70 as of 2025Q4, providing the firm with a substantial financial cushion to sustain its intensive seasonal drilling programs without the immediate need for dilutive external financing.
The high current ratio indicates that the company is well-positioned to manage its short-term liabilities, even during periods of peak seasonal activity. This liquidity buffer is critical for maintaining operational continuity in the remote Golden Triangle, though it remains entirely dependent on the company's ability to manage its cash burn.
Compared to established producers like Pan American Silver and Hecla Mining, DVS exhibits a distinct lack of traditional profitability metrics, with its valuation driven by resource potential rather than the positive net margins and dividend yields seen in the broader silver mining peer group.
The gap between DVS and its producer peers is structural, as the company lacks the operational cash flow that supports the valuation multiples of larger, mature miners. Investors should recognize that DVS is a speculative play on resource growth, whereas its peers offer exposure to realized commodity price cycles and operational stability.
The price-to-book ratio is frequently misapplied to DVS, as it obscures the fact that the company's capitalized exploration costs do not represent the true economic value of the underlying mineral assets, which are highly sensitive to commodity price fluctuations and future permitting success.
Relying on book value for a pre-revenue explorer can be misleading because it treats exploration spending as a static asset rather than a high-risk investment. A more appropriate metric for this business model would be the enterprise value per ounce of silver equivalent, which better captures the actual resource scale and potential economic viability.
Includes 30+ ratios · 15 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying DVS stock.
Dolly Varden Silver Corporation's current P/E ratio is -10.3x. This places it at the 50th percentile of its historical range.
Dolly Varden Silver Corporation's return on equity (ROE) is -27.1%. The historical average is -55.1%.
Based on historical data, Dolly Varden Silver Corporation is trading at a P/E of -10.3x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.