Latest Ratios: P/E Ratio -146.0x · EV/EBITDA 295.1x · ROE -1.7%. (2007–2025 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 2022 | FY 2021 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $637M | $720M | $230M | $220M | $295M | $201M | $83M | $43M | $16M | $3M | $1M |
| Enterprise Value | $642M | $725M | $233M | $226M | $303M | $201M | $82M | $46M | $15M | $3M | $1M |
| P/E Ratio → | -146.04 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 54.29 | 61.31 | 27.16 | 91.14 | 99.34 | 77.19 | 14.35 | 7.55 | — | — | — |
| P/B Ratio | 2.51 | 2.87 | 0.91 | 1.86 | 2.93 | 4.45 | 1.90 | 3.65 | 2.89 | — | — |
| P/FCF | — | — | — | — | — | — | — | 28.52 | — | — | — |
| P/OCF | 481.78 | 544.11 | — | — | 986.78 | — | 49.28 | 19.73 | — | — | — |
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 2022 | FY 2021 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 61.72 | 27.51 | 93.64 | 102.09 | 77.16 | 14.12 | 8.09 | — | — | — |
| EV / EBITDA | 295.08 | 332.97 | — | — | — | — | 114.70 | 29.57 | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | 30.58 | — | — | — |
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 2022 | FY 2021 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 80.9% | 80.9% | 39.9% | 25.1% | 21.0% | 36.5% | 31.0% | 10.1% | — | — | — |
| Operating Margin | -0.5% | -0.5% | -50.4% | -255.3% | -301.2% | -138.3% | -18.5% | -22.7% | — | — | — |
| Net Profit Margin | -36.1% | -36.1% | -61.6% | -452.8% | -351.1% | -180.5% | -31.1% | -34.8% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2022 | FY 2021 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -1.7% | -1.7% | -2.8% | -10.0% | -14.3% | -10.6% | -6.5% | -22.8% | -88.7% | — | -192.3% |
| ROA | -1.6% | -1.6% | -2.6% | -9.0% | -12.8% | -9.7% | -5.5% | -15.9% | -82.3% | -235.3% | -172.6% |
| ROIC | -0.0% | -0.0% | -1.7% | -4.0% | -8.7% | -6.2% | -2.8% | -9.9% | -72.5% | — | -3.3% |
| ROCE | -0.0% | -0.0% | -2.2% | -5.2% | -11.1% | -7.8% | -3.4% | -10.7% | -83.7% | — | -4.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2022 | FY 2021 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.06 | 0.06 | 0.06 | 0.09 | 0.10 | 0.07 | 0.05 | 0.58 | 0.00 | — | — |
| Debt / EBITDA | 6.70 | 6.70 | — | — | — | — | 2.90 | 4.38 | — | — | — |
| Net Debt / Equity | — | 0.02 | 0.01 | 0.05 | 0.08 | -0.00 | -0.03 | 0.26 | — | — | — |
| Net Debt / EBITDA | 2.21 | 2.21 | — | — | — | — | -1.87 | 1.99 | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | 2.06 | — | — | — |
| Interest Coverage | -1.21 | -1.21 | -2.92 | -4.78 | -10.93 | -5.46 | -2.96 | -4.69 | -11.15 | -12.87 | -18.43 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2022 | FY 2021 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.41 | 2.41 | 0.93 | 1.46 | 5.99 | 2.83 | 1.20 | 9.70 | 5.93 | 0.12 | 0.34 |
| Quick Ratio | 2.41 | 2.41 | 0.93 | 1.13 | 4.03 | 2.83 | 1.20 | 9.70 | 5.93 | 0.12 | 0.34 |
| Cash Ratio | 1.53 | 1.53 | 0.70 | 0.70 | 2.15 | 2.54 | 1.04 | 8.99 | 4.87 | 0.01 | 0.31 |
| Asset Turnover | — | 0.04 | 0.03 | 0.02 | 0.03 | 0.05 | 0.12 | 0.30 | — | — | — |
| Inventory Turnover | — | — | — | 0.83 | 1.09 | — | — | — | — | — | — |
| Days Sales Outstanding | — | 135.80 | 108.60 | 227.76 | 159.92 | 23.45 | 15.12 | 12.52 | — | — | — |
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 2022 | FY 2021 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | 0.6% | 1.6% | 0.7% | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2022 | FY 2021 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | 3.5% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1.1% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.6% | 2.7% | 0.7% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $93M | $92M | $45M | $43M | $34M | $26M | $18M | $10M | $7M | $7M |
Operational scale and dilution
Based on reported figures, MTA trades at a P/S multiple of 59.06, which appears significantly elevated compared to established royalty peers, suggesting that the market is pricing in substantial future production growth from development-stage assets rather than current cash-generating capacity or immediate earnings power.
The forward P/E of 134.66 implies that investors are paying a steep premium for the company's growth trajectory, effectively discounting years of potential reserve expansion. This valuation approach warrants caution, as it assumes successful project development by third-party operators, a variable that remains outside of Metalla's direct control.
As reported in financial statements, the company maintains a high gross margin of 88.1% as of 2026Q1, yet the persistent negative net margin of -36.13% indicates that corporate overhead and acquisition-related costs continue to overwhelm the revenue generated by the current royalty portfolio.
While the royalty model is inherently scalable, the current data suggests that Metalla has not yet reached the critical mass required to achieve consistent profitability. Investors should monitor whether future revenue growth can outpace the fixed G&A burden, as the current trend suggests a reliance on external financing to cover operational shortfalls.
According to recent SEC filings, MTA's ROIC has remained largely stagnant or negative, with a 2026Q1 figure of 0.1%, highlighting the difficulty in generating meaningful returns on invested capital while the company remains in an aggressive, acquisition-heavy phase of its corporate lifecycle.
The low ROIC suggests that the capital deployed into new royalty interests is not yet yielding sufficient cash flow to justify the investment costs. This trend warrants further investigation into whether the company's acquisition strategy is truly accretive or if it is merely expanding the asset base without improving long-term compounding potential.
Based on the provided quarterly data, the company's asset turnover remains extremely low at 0.01, reflecting the passive nature of royalty interests and the significant time lag between initial capital deployment and the eventual realization of production-based revenue from underlying mining operations.
The variability in the cash conversion cycle, which has seen significant fluctuations, suggests that Metalla's liquidity is highly sensitive to the reporting and payment schedules of its third-party operators. This lack of control over the timing of cash inflows may necessitate higher cash buffers than would be required in a more vertically integrated business model.
As noted in industry analysis, the P/E ratio is a fundamentally flawed metric for evaluating Metalla, as it fails to account for the heavy non-cash depletion charges that artificially depress reported net income and obscure the company's actual ability to generate cash from its royalty interests.
Investors should instead focus on metrics like Adjusted EBITDA or Cash Flow from Operations to assess the true economic performance of the business. Relying on P/E in this context may lead to an incorrect conclusion that the company is failing, when in reality, the accounting treatment of royalty assets is simply masking the underlying cash-generating potential.
Includes 30+ ratios · 17 years · Updated daily
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Quick answers to the most common questions about buying MTA stock.
Metalla Royalty & Streaming Ltd.'s current P/E ratio is -146.0x. This places it at the 50th percentile of its historical range.
Metalla Royalty & Streaming Ltd.'s current EV/EBITDA is 295.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.5x.
Metalla Royalty & Streaming Ltd.'s return on equity (ROE) is -1.7%. The historical average is -41.9%.
Based on historical data, Metalla Royalty & Streaming Ltd. is trading at a P/E of -146.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Metalla Royalty & Streaming Ltd. has 80.9% gross margin and -0.5% operating margin.
Metalla Royalty & Streaming Ltd.'s Debt/EBITDA ratio is 6.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.