Latest Ratios: P/E Ratio -18.8x · EV/EBITDA N/A · ROE -7.8%. (2010–2025 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 | $192M | $285M | $164M | $157M | $211M | $197M | $304M | $119M | $85M | $132M | $152M |
| Enterprise Value | $189M | $280M | $153M | $136M | $212M | $198M | $295M | $112M | $75M | $118M | $131M |
| P/E Ratio → | -18.85 | — | — | — | — | 1.96 | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 1.11 | 1.24 | 1.43 | 1.19 | 1.56 | 1.12 | 4.64 | 1.81 | 1.21 | 1.74 | 2.75 |
| 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 | -7.8% | -7.8% | -20.4% | -21.5% | -8.5% | 83.3% | -17.0% | -9.1% | -9.0% | -11.7% | -19.7% |
| ROA | -7.5% | -7.5% | -19.6% | -20.2% | -7.6% | 74.5% | -16.2% | -8.8% | -8.7% | -11.2% | -18.6% |
| ROIC | -11.8% | -11.8% | -18.3% | -15.8% | -7.2% | -7.7% | -14.1% | -7.8% | -8.4% | -12.3% | -21.0% |
| ROCE | -14.7% | -14.7% | -20.8% | -19.2% | -9.3% | -9.5% | -16.4% | -9.1% | -9.2% | -11.9% | -19.6% |
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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.07 | 0.07 | 0.01 | — | — | 0.00 | 0.00 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.02 | -0.10 | -0.16 | 0.01 | 0.01 | -0.13 | -0.10 | -0.14 | -0.18 | -0.39 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | -482.08 | -19.02 | -7.25 | -78.18 | -3960.69 | — | -34.72 | -38.03 | -142.05 |
Net cash position: cash ($4M) exceeds total debt ($299000)
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 | 9.48 | 9.48 | 3.14 | 10.12 | 0.84 | 0.90 | 3.31 | 3.79 | 5.67 | 5.33 | 9.64 |
| Quick Ratio | 9.48 | 9.48 | 3.14 | 10.12 | 0.84 | 0.90 | 3.20 | 3.79 | 5.67 | 5.33 | 9.64 |
| Cash Ratio | 9.07 | 9.07 | 2.81 | 9.21 | 0.76 | 0.86 | 3.04 | 3.60 | 5.50 | 5.20 | 9.52 |
| Asset Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | 0.83 | — | — | — | — |
| 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 | — | — | — | — | — | 51.1% | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 2.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 2.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $199M | $188M | $172M | $154M | $153M | $146M | $138M | $135M | $124M | $98M |
Persistent Operational Cash Burn
Based on reported figures, GLDG trades at a P/B ratio of 1.12, which suggests the market assigns a significant discount to the company's mineral property portfolio compared to the potential spot value of its underlying gold and copper resources held across the Americas.
The negative P/E ratio is a byproduct of the company's pre-revenue status, rendering traditional earnings-based valuation metrics largely irrelevant for assessing its intrinsic worth. Investors should monitor the valuation gap between the parent company and its publicly traded subsidiaries, as this spread may indicate whether the market is correctly pricing the company's 'resource bank' model.
As reported in financial statements, GLDG has consistently posted negative ROIC figures, with the most recent 2026Q1 data showing a -2.3% return, illustrating the inherent difficulty of generating positive capital returns while the company remains in a non-productive, exploration-heavy phase of its business cycle.
The persistent decay in ROIC is expected for a firm that has yet to transition any of its major projects into commercial production. This trend suggests that capital is being consumed to maintain mineral claims rather than being deployed into projects that generate immediate cash flow, warranting further investigation into the timeline for project de-risking.
According to recent SEC filings, the company's current ratio has fluctuated significantly, dropping from 10.12 in 2023Q4 to 20.42 in 2026Q1, though this volatility masks a dwindling absolute cash position that may necessitate future dilutive financing to sustain ongoing administrative and exploration activities.
While the high current ratio appears superficially strong, it is heavily influenced by the accounting treatment of current assets rather than a robust cash-generating capability. The company's reliance on external equity markets to maintain its liquidity buffer suggests that its financial position remains vulnerable to shifts in investor sentiment toward junior mining equities.
As indicated by the company's financial statements, the most commonly misapplied metric for GLDG is the net profit margin, which fails to account for the fact that the company is a resource-holding vehicle rather than an active producer of gold or copper commodities.
Using net margin to evaluate GLDG obscures the reality that the company's primary objective is the appreciation of its mineral assets and equity stakes rather than operational profitability. Analysts should instead focus on the 'Enterprise Value per Measured & Indicated Ounce' to better gauge the company's progress in surfacing value from its extensive land package.
Includes 30+ ratios · 16 years · Updated daily
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Quick answers to the most common questions about buying GLDG stock.
GoldMining Inc.'s current P/E ratio is -18.8x. The historical average is 2.0x.
GoldMining Inc.'s return on equity (ROE) is -7.8%. The historical average is -13.2%.
Based on historical data, GoldMining Inc. is trading at a P/E of -18.8x. Compare with industry peers and growth rates for a complete picture.