Latest Ratios: P/E Ratio 14.3x · EV/EBITDA 6.5x · ROE 17.7%. (1996–2025 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 | $9.8B | $9.6B | $2.8B | $1.2B | $1.2B | $1.5B | $1.8B | $1.7B | $1.7B | $2.7B | $1.6B |
| Enterprise Value | $10.2B | $10.0B | $3.6B | $1.8B | $1.8B | $1.5B | $1.3B | $1.4B | $1.5B | $2.5B | $1.5B |
| P/E Ratio → | 14.28 | 14.22 | 3.44 | 13.32 | — | — | 40.78 | — | — | 5.45 | 32.08 |
| P/S Ratio | 3.36 | 3.30 | 1.72 | 1.24 | 1.29 | 1.70 | 1.41 | 1.64 | 1.55 | 2.49 | 1.65 |
| P/B Ratio | 2.27 | 2.26 | 0.83 | 0.54 | 0.56 | 0.64 | 0.69 | 0.72 | 0.61 | 0.96 | 0.72 |
| P/FCF | 12.64 | 12.44 | — | — | — | — | 58.48 | 20.11 | — | 48.84 | 120.89 |
| P/OCF | 9.11 | 8.96 | 7.17 | 10.26 | 3.39 | 5.23 | 5.05 | 4.81 | 8.98 | 9.23 | 5.19 |
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 | — | 3.45 | 2.22 | 1.83 | 1.90 | 1.69 | 1.08 | 1.30 | 1.35 | 2.24 | 1.48 |
| EV / EBITDA | 6.51 | 6.41 | 2.97 | 8.18 | 6.42 | 8.74 | 3.26 | — | 5.21 | 2.86 | 4.99 |
| EV / EBIT | 9.00 | 8.86 | 3.72 | 19.33 | 57.58 | — | 12.48 | — | 65.32 | 3.99 | 12.40 |
| EV / FCF | — | 12.98 | — | — | — | — | 44.87 | 15.93 | — | 43.96 | 108.53 |
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 | 41.2% | 41.2% | 33.7% | 12.6% | 15.4% | 7.1% | 20.2% | 6.5% | 12.3% | 14.0% | 10.4% |
| Operating Margin | 38.9% | 38.9% | 57.8% | -0.0% | 4.3% | -11.9% | 11.7% | -31.7% | 3.1% | 53.0% | 3.3% |
| Net Profit Margin | 23.3% | 23.3% | 50.2% | 9.6% | -7.3% | -29.1% | 3.4% | -38.7% | -2.5% | 45.8% | 5.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.7% | 17.7% | 28.9% | 4.2% | -3.1% | -10.5% | 1.7% | -15.8% | -1.0% | 19.6% | 2.5% |
| ROA | 11.5% | 11.5% | 16.5% | 2.1% | -1.6% | -6.0% | 1.1% | -10.5% | -0.7% | 13.6% | 1.6% |
| ROIC | 19.1% | 19.1% | 20.1% | -0.0% | 1.2% | -3.5% | 5.2% | -10.9% | 1.0% | 18.6% | 1.1% |
| ROCE | 21.2% | 21.2% | 21.6% | -0.0% | 1.1% | -2.8% | 3.9% | -9.2% | 0.9% | 16.7% | 1.0% |
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 | 0.20 | 0.20 | 0.34 | 0.42 | 0.45 | 0.23 | 0.21 | 0.19 | 0.14 | 0.14 | 0.21 |
| Debt / EBITDA | 0.54 | 0.54 | 0.95 | 4.30 | 3.50 | 3.13 | 1.29 | — | 1.38 | 0.46 | 1.65 |
| Net Debt / Equity | — | 0.10 | 0.24 | 0.26 | 0.26 | -0.01 | -0.16 | -0.15 | -0.08 | -0.10 | -0.07 |
| Net Debt / EBITDA | 0.27 | 0.27 | 0.66 | 2.64 | 2.06 | -0.09 | -0.99 | — | -0.75 | -0.32 | -0.57 |
| Debt / FCF | — | 0.54 | — | — | — | — | -13.60 | -4.19 | — | -4.88 | -12.36 |
| Interest Coverage | 10.38 | 10.38 | — | — | — | — | 7.37 | -22.84 | 8.51 | 59.38 | 4.86 |
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 | 1.75 | 1.75 | 1.21 | 1.19 | 2.35 | 1.64 | 4.17 | 4.75 | 4.78 | 5.02 | 5.18 |
| Quick Ratio | 1.02 | 1.02 | 0.72 | 0.77 | 2.04 | 1.12 | 3.19 | 3.59 | 3.57 | 4.16 | 4.12 |
| Cash Ratio | 0.82 | 0.82 | 0.63 | 0.58 | 0.63 | 0.95 | 2.83 | 3.16 | 3.23 | 3.42 | 3.34 |
| Asset Turnover | — | 0.46 | 0.30 | 0.22 | 0.22 | 0.21 | 0.29 | 0.28 | 0.28 | 0.28 | 0.29 |
| Inventory Turnover | 4.53 | 4.53 | 3.98 | 3.24 | 4.06 | 2.70 | 3.03 | 3.23 | 3.55 | 4.71 | 4.26 |
| Days Sales Outstanding | — | 7.64 | 7.76 | 25.07 | 31.60 | 20.15 | 23.72 | 17.61 | 20.76 | 48.67 | 2.81 |
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 | 7.0% | 7.0% | 29.1% | 7.5% | — | — | 2.5% | — | — | 18.4% | 3.1% |
| FCF Yield | 7.9% | 8.0% | — | — | — | — | 1.7% | 5.0% | — | 2.0% | 0.8% |
| Buyback Yield | 0.5% | 0.5% | 1.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.5% | 0.5% | 1.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $582M | $546M | $485M | $479M | $477M | $478M | $468M | $467M | $468M | $424M |
Geopolitical and operational concentration
According to recent market data, IAMGOLD trades at a forward P/E of 6.65, which appears to discount the company's successful transition to a Tier-1 producer and suggests that investors are currently pricing in a significant growth premium relative to more mature, steady-state gold mining peers.
The current valuation multiples, particularly the PEG ratio of 0.20, indicate that the market may be underestimating the earnings power of the Côté Gold project as it reaches full capacity. While the P/S ratio of 3.22 is elevated, it reflects the rapid revenue expansion observed in recent quarters rather than a permanent shift in long-term valuation expectations.
Based on reported financial figures, ROIC has improved to 8.9% in 2026Q1, marking a sharp recovery from the negative returns observed in late 2023 and signaling that the company is finally beginning to generate meaningful returns on its massive capital investments in the Côté Gold project.
The trend in ROIC suggests that the company is moving past the capital-intensive development phase that previously suppressed returns. Investors should monitor whether this upward trajectory in capital efficiency can be sustained as the company shifts its focus toward optimizing production at its core Canadian assets.
As reported in recent quarterly filings, the cash conversion cycle has compressed to 15 days in 2026Q1, demonstrating a significant improvement in working capital management compared to the volatile cycles observed during the construction phase of the company's primary mining assets.
The reduction in the cash conversion cycle suggests that management has successfully streamlined its inventory and receivables processes, which is critical for maintaining liquidity in a commodity-sensitive business. This efficiency gain appears to be a structural improvement that supports the company's ability to fund ongoing operations without relying on external financing.
According to the company's latest balance sheet disclosures, the debt-to-equity ratio has declined to 0.15 in 2026Q1, reflecting a disciplined approach to debt repayment that has significantly reduced the company's financial risk profile following the completion of the Côté Gold construction project.
The improvement in interest coverage to 206.31 suggests that the company's debt service obligations are now well-covered by operating cash flows, providing a substantial buffer against potential gold price volatility. This deleveraging trend warrants further investigation as it may signal a shift toward more aggressive capital return policies in future periods.
A critical counter-analysis suggests that the P/E ratio is frequently misapplied to IAMGOLD, as it fails to account for the non-cash depreciation and amortization charges inherent in mining, which can significantly distort earnings and obscure the company's true ability to generate free cash flow.
Investors should prioritize EV/EBITDA or P/FCF over P/E when evaluating this business model, as these metrics better reflect the underlying cash-generating capacity of the assets. Relying solely on P/E may lead to an inaccurate assessment of the company's valuation, especially during periods of high capital expenditure or asset impairment.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying IAG stock.
IAMGOLD Corporation's current P/E ratio is 14.3x. The historical average is 29.5x. This places it at the 43th percentile of its historical range.
IAMGOLD Corporation's current EV/EBITDA is 6.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.8x.
IAMGOLD Corporation's return on equity (ROE) is 17.7%. The historical average is 3.1%.
Based on historical data, IAMGOLD Corporation is trading at a P/E of 14.3x. This is at the 43th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
IAMGOLD Corporation has 41.2% gross margin and 38.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
IAMGOLD Corporation's Debt/EBITDA ratio is 0.5x, indicating low leverage. A ratio below 2x is generally considered financially healthy.