Argonaut Gold Inc. Financial Ratios — ARNGF Stock

Profitability (USD)

	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Return on Common Equity (%)	- -	- -	- -	11.69	0.57	-0.51	-27.87	0.69	3.59	-1.1	-14.49	2	3.11	-16.85	3.9
Return on Assets (%)	-0.54	1.9	9.22	10.38	0.51	-0.45	-27.3	0.73	3.67	-1.1	-14.31	1.71	2.28	-12.04	2.7
Return on Capital (%)	- -	68.08	16.68	11.65	0.58	- -	- -	0.69	- -	- -	- -	1.96	2.82	- -	- -
Return on Invested Capital (%)	- -	2.77	10.82	11.24	0.6	- -	- -	1.06	- -	- -	- -	3.49	5.96	- -	- -
Gross Margin (%)	- -	29.57	48.07	50.87	35.78	13.62	-8.7	21.14	20.18	9.42	5.38	30.03	26.17	6.14	10.78
EBITDA Margin (%)	- -	29.69	53.35	57.27	44	28.64	10.5	29.78	28.01	17.83	17.87	37.75	37.3	16.7	15.7
Operating Margin (%)	- -	17.53	41.15	45.46	27.35	4.3	-16.63	13.4	11.77	0.85	0.69	21.81	20.86	0.33	2.59
Incremental Operating Margin (%)	4,230.52	18.54	64.13	50.92	180.99	-3,153.03	- -	-331.52	-11.15	-40.5	0.28	133.57	18.25	185.01	-52.79
Pretax Margin (%)	- -	15.73	41.56	45.69	25.51	-0.3	-162.8	9.93	13.55	-0.49	-40.36	12.63	9.74	-37.07	7.39
Profit Margin (%)	- -	7.21	25.12	34.66	2.8	-2.52	-127.82	2.99	15.38	-3.89	-34.62	4.45	6.07	-39.19	10.28
Net Income to Common Margin (%)	- -	7.21	25.12	34.66	2.8	-2.52	-127.82	2.99	15.38	-3.89	-34.62	4.45	6.07	-39.19	10.28
Effective Tax Rate (%)	- -	53.67	39.55	24.14	89.01	- -	- -	69.87	- -	- -	- -	64.8	37.63	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	11.69	0.57	-0.51	-27.87	0.69	3.59	-1.1	-14.49	2	3.11	-16.85	3.9

Credit (USD)

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	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Debt	7	6	6	- -	14	8	4	1	8	13	10	76	180	180	324
ST Debt	- -	- -	6	- -	6	4	3	1	- -	- -	- -	10	17	21	62
LT Debt	7	6	- -	- -	8	4	1	- -	8	13	10	65	162	160	262
Total Debt/EBITDA	-13.22	0.4	0.11	- -	0.19	0.17	0.24	0.02	0.18	0.37	0.21	0.63	1.1	2.78	5.54
Net Debt/EBITDA	77.23	-1.25	-0.52	-1.78	-0.92	-0.98	-2.59	-0.96	-0.14	-0.07	-0.6	-1.42	-0.46	0.84	3.13
Total Debt/EBIT	-13.22	0.69	0.14	- -	0.31	1.13	-0.15	0.05	0.44	7.82	5.36	1.08	1.97	142.08	33.55
Net Debt/EBIT	77.23	-2.12	-0.67	-2.24	-1.48	-6.53	1.64	-2.12	-0.33	-1.43	-15.42	-2.47	-0.82	42.98	18.98
EBITDA to Interest Expense	- -	33.1	232.43	463.9	56.92	69.93	45.63	344.9	1,206.86	79.64	69.33	75.53	95.07	23.17	4.75
EBITDA-CapEx/Interest Expense	- -	-9.29	68.6	249.35	-21.04	-0.91	-55.61	344.9	69.56	79.37	-5.35	35.53	-51.99	23.17	4.75
EBIT to Interest Expense	- -	19.54	179.3	368.24	35.38	10.49	-72.25	155.22	507.06	3.79	2.69	43.64	53.17	0.45	0.78
Interest Expense	- -	- -	- -	- -	1	1	- -	- -	- -	- -	1	2	2	3	12
Common Equity/Total Assets	-0.27	-1.88	81.61	91.91	88.2	91.34	108.38	104.16	100.47	98.95	98.47	78.28	69.37	73.52	65.6
Long-Term Debt/Equity (%)	4.84	4.44	- -	- -	1	0.54	0.17	- -	1.26	2.13	1.88	8.47	19.49	19.07	27.11
Long-Term Debt/Capital (%)	77.88	241.08	- -	- -	0.96	0.51	0.15	- -	1.14	1.86	1.65	7.26	15.29	14.42	19.28
Long-Term Debt/Total Assets (%)	3.48	3.22	- -	- -	0.86	0.47	0.16	- -	1.16	1.87	1.65	6.21	12.77	12.66	16.6
Total Debt/Equity (%)	4.86	4.44	1.9	- -	1.73	1.03	0.73	0.16	1.26	2.13	1.88	9.78	21.59	21.56	33.48
Total Debt/Capital (%)	78.19	241.08	1.94	- -	1.67	0.97	0.63	0.14	1.14	1.86	1.65	8.39	16.94	16.3	23.81
Total Debt/Total Assets (%)	3.49	3.22	1.61	- -	1.49	0.89	0.68	0.15	1.16	1.87	1.65	7.17	14.15	14.32	20.5
Net Debt to Equity	-28.36	-13.75	-8.97	-23.49	-8.22	-5.93	-8	-7.39	-0.96	-0.39	-5.42	-22.27	-8.97	6.52	18.94
Net Debt/Capital (%)	105.02	84.12	-10.33	-31.23	-8.77	-5.95	-7.39	-6.93	-0.88	-0.35	-5.06	-25.07	-8.66	5.28	14.36
EBITDA	-1	15	56	107	73	48	17	43	43	35	48	121	163	65	58
EBITDA-CapEx	-1	-4	16	58	-27	-1	-20	43	3	35	-4	57	-89	65	58
Operating Income (Loss)	-1	9	43	85	45	7	-26	19	18	2	2	70	91	1	10

Liquidity (USD)

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	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Cash Ratio	4.42	3.02	2.19	9.36	2.54	1.11	2.26	1.82	0.58	0.42	0.95	2.35	1.21	0.51	0.45
Current Ratio	6.13	6.16	4.58	12.31	5.63	3.62	5.77	5.12	4.31	3.03	2.92	3.82	2.04	1.61	1.32
Quick Ratio	4.9	3.45	2.57	9.89	3.5	1.61	2.92	2.41	1.39	1.07	1.49	2.65	1.4	0.69	0.56
CFO/Avg Current Liab	- -	0.53	2.63	3.86	0.96	0.98	1.73	1.54	1.64	1.04	1.93	1.65	0.99	-0.02	0.26
Common Equity/Total Assets	-0.27	-1.88	81.61	91.91	88.2	91.34	108.38	104.16	100.47	98.95	98.47	78.28	69.37	73.52	65.6
Long-Term Debt/Equity (%)	4.84	4.44	- -	- -	1	0.54	0.17	- -	1.26	2.13	1.88	8.47	19.49	19.07	27.11
Long-Term Debt/Capital (%)	77.88	241.08	- -	- -	0.96	0.51	0.15	- -	1.14	1.86	1.65	7.26	15.29	14.42	19.28
Long-Term Debt/Total Assets (%)	3.48	3.22	- -	- -	0.86	0.47	0.16	- -	1.16	1.87	1.65	6.21	12.77	12.66	16.6
Total Debt/Equity (%)	4.86	4.44	1.9	- -	1.73	1.03	0.73	0.16	1.26	2.13	1.88	9.78	21.59	21.56	33.48
Total Debt/Capital (%)	78.19	241.08	1.94	- -	1.67	0.97	0.63	0.14	1.14	1.86	1.65	8.39	16.94	16.3	23.81
Total Debt/Total Assets (%)	3.49	3.22	1.61	- -	1.49	0.89	0.68	0.15	1.16	1.87	1.65	7.17	14.15	14.32	20.5
CFO/Total Liabilities	0.03	9.65	57.21	117.62	19.69	31.84	152.89	63.56	67.61	37.08	98.78	39.63	29.86	-0.89	7.08
CFO/CapEx	0.94	0.26	0.82	1.42	0.25	0.79	1.57	- -	0.95	264.2	1.45	1.74	0.52	- -	- -
Altman's Z-Score	0.32	3.54	7.33	10.02	4.14	1.74	2.15	3.12	3.72	1.65	2.28	1.66	1.38	0.36	0.36

Working Capital (USD)

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	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Accounts Receivable Turnover	- -	25.76	35.87	170.88	- -	- -	- -	- -	1,582.54	125.36	103.28	213.84	363.79	280.69	268.53
Days Sales Outstanding	- -	14.17	10.17	2.14	- -	- -	- -	- -	0.23	2.91	3.53	1.71	1	1.3	1.36
Inventory Turnover	- -	2.17	2.12	2.46	2	1.98	2.5	1.97	1.9	2.58	4.08	3.56	3.76	3.72	3.06
Days Inventory Outstanding	- -	168.35	172.08	148.33	182.29	183.91	146.26	184.95	191.77	141.41	89.36	102.57	96.95	98.01	119.35
Accounts Payable Turnover	10.02	12.27	12.61	13.9	12.37	13.94	11.9	11.03	9.92	9.64	10.31	8.7	7.62	7.43	9.85
Accounts Payable Turnover Days	36.42	29.74	28.95	26.25	29.51	26.17	30.68	33.08	36.78	37.87	35.41	41.93	47.92	49.11	37.05
Cash Conversion Cycle	- -	152.78	153.3	124.21	152.78	157.73	115.58	151.87	155.22	106.46	57.49	62.34	50.03	50.2	83.66
Inventory to Cash Days	- -	-154.18	-161.9	-146.19	-182.29	-183.91	-146.26	-184.95	-191.54	-138.5	-85.83	-100.86	-95.95	-96.71	-117.99
Inventories	12	21	30	45	61	84	55	61	69	69	56	70	102	94	123
Raw Materials	- -	1	1	7	11	9	8	7	9	12	15	13	17	19	24
Work In Process	12	20	27	36	49	75	46	53	60	55	41	56	83	74	81
Finished Goods	- -	1	1	1	- -	- -	- -	- -	- -	2	- -	1	1	1	5
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	13

Enterprise Value (USD)

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	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Market Capitalization	- -	252	600	901	740	247	134	251	331	204	266	501	585	210	305
- Cash & Cash Equivalents	47	25	35	191	81	51	46	42	14	15	39	214	199	73	84
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	7	6	6	- -	14	8	4	1	8	13	10	76	180	180	324
Enterprise Value	-38	233	572	709	673	204	92	209	325	202	237	355	559	317	545
Total Capital	9	3	314	802	845	836	631	636	701	700	607	900	1,060	1,106	1,360
Total Debt/Capital (%)	78.19	241.08	1.94	- -	1.67	0.97	0.63	0.14	1.14	1.86	1.65	8.39	16.94	16.3	23.81
Total Debt / EV	-0.18	0.03	0.01	- -	0.02	0.04	0.04	- -	0.02	0.06	0.04	0.21	0.32	0.57	0.59
EV/Sales	- -	4.52	5.47	3.79	4.08	1.22	0.58	1.45	2.09	1.03	0.88	1.11	1.28	0.82	1.46
EV/EBITDA	- -	15.22	10.25	6.62	9.27	4.28	5.5	4.86	7.47	5.78	4.94	2.94	3.43	4.89	9.33
EV/EBIT	- -	25.79	13.28	8.33	14.92	28.5	- -	10.79	17.79	121.54	127.11	5.09	6.14	249.75	56.5
EV/Cash Flow to Firm	- -	43.95	17.71	10.04	26.69	4.64	1.57	6.25	8.36	5.74	3.15	3.17	4.25	- -	9.02
EV/Free Cash Flow to Firm	- -	9.36	7.98	5.9	5.4	2.21	0.96	6.25	4.07	5.72	1.87	2.02	1.46	- -	9.02
Diluted Market Cap	- -	252	636	907	743	247	134	252	333	204	266	511	593	210	310
Diluted Enterprise Value	-38	233	608	716	676	204	92	211	327	202	237	373	574	317	550
EV per Share	- -	4.16	6.5	7.46	4.52	1.32	0.59	1.33	1.88	1.14	1.33	1.52	1.82	0.57	0.63
TTM Sales	- -	52	105	187	165	166	159	145	155	196	269	320	437	388	372
TTM EBITDA	-1	15	56	107	73	48	17	43	43	35	48	121	163	65	58
TTM Operating Income	-1	9	43	85	45	7	-26	19	18	2	2	70	91	1	10
TTM Cash Flow to Firm	- -	5	32	71	25	44	58	34	39	35	75	112	132	-1	60
TTM Free Cash Flow to Firm	- -	25	72	120	125	92	95	34	80	35	127	176	384	-1	60

Multiples (USD)

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	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Price/Free Cash Flow	- -	10.22	8.91	7.56	5.97	2.86	1.41	7.54	4.18	6.42	2.1	2.92	1.55	-56.01	7.15
EV/EBIT	- -	25.79	13.28	8.33	14.92	28.5	- -	10.79	17.79	121.54	127.11	5.09	6.14	249.75	56.5
Enterprise Value	-38	233	572	709	673	204	92	209	325	202	237	355	559	317	545
Low Price	- -	2.44	4.25	6.4	4.73	1.1	0.83	0.53	1.31	0.85	1.04	0.53	1.5	0.24	0.27
EV/Sales	- -	4.52	5.47	3.79	4.08	1.22	0.58	1.45	2.09	1.03	0.88	1.11	1.28	0.82	1.46
EV/EBITDA	- -	15.22	10.25	6.62	9.27	4.28	5.5	4.86	7.47	5.78	4.94	2.94	3.43	4.89	9.33
Price/Earnings	- -	67.84	22.85	13.89	159.98	- -	- -	57.87	13.87	- -	- -	35.28	22.06	- -	7.98
Price/Earnings Average	- -	48.35	18.59	12.93	217.65	-134.82	-1.01	73.09	13.36	-37.25	-2.82	26.37	26.42	-3.39	9.48
Price/Earnings High	- -	67.84	24.05	16.44	323.86	-221.1	-1.98	123.01	17.43	-54.42	-4.12	43.16	37.5	-7.84	12.82
Price/Earnings Low	- -	36.78	14.22	9.38	152.26	-40.44	-0.63	19.45	9.51	-19.87	-2	8.73	17.41	-0.87	6.11
Price/Book Value	- -	-69.59	1.95	1.12	0.89	0.3	0.21	0.39	0.48	0.3	0.45	0.61	0.66	0.23	0.29
Price/Book Value Average	- -	-49.6	1.59	1.05	1.21	0.68	0.33	0.5	0.46	0.41	0.44	0.45	0.8	0.56	0.35
Price/Book Value High	- -	-69.59	2.05	1.33	1.8	1.12	0.64	0.84	0.6	0.6	0.64	0.74	1.13	1.29	0.47
Price/Book Value Low	- -	-37.73	1.21	0.76	0.85	0.2	0.21	0.13	0.33	0.22	0.31	0.15	0.52	0.14	0.23
Price/Tangible Book Value	- -	1.81	1.87	1.11	0.92	0.32	0.25	0.45	0.52	0.34	0.5	0.65	0.7	0.25	0.32
Price/Tangible Book Value Average	- -	1.29	1.52	1.03	1.25	0.73	0.38	0.57	0.5	0.47	0.49	0.49	0.84	0.62	0.37
Price/Tangible Book Value High	- -	1.81	1.97	1.31	1.86	1.19	0.74	0.96	0.66	0.68	0.72	0.79	1.2	1.43	0.51
Price/Tangible Book Value Low	- -	0.98	1.16	0.75	0.88	0.22	0.24	0.15	0.36	0.25	0.35	0.16	0.56	0.16	0.24
Price/Sales	- -	4.89	5.74	4.81	4.49	1.49	0.84	1.73	2.13	1.04	0.99	1.57	1.34	0.54	0.82
Price/Sales Average	- -	3.49	4.67	4.48	6.1	3.4	1.29	2.19	2.05	1.45	0.97	1.17	1.6	1.33	0.97
Price/Sales High	- -	4.89	6.04	5.7	9.08	5.57	2.54	3.68	2.68	2.12	1.43	1.92	2.28	3.07	1.32
Price/Sales Low	- -	2.65	3.57	3.25	4.27	1.02	0.81	0.58	1.46	0.77	0.69	0.39	1.06	0.34	0.63
Price/Cash Flow	- -	49.58	18.69	12.79	29.51	6.45	2.31	7.49	8.52	6.45	3.56	4.5	4.48	-56.01	7.04
Price/Cash Flow Average	- -	35.34	15.2	11.91	40.15	14.75	3.54	9.46	8.21	8.95	3.51	3.36	5.36	-137.67	8.37
Price/Cash Flow High	- -	49.58	19.66	15.14	59.75	24.2	6.95	15.92	10.71	13.08	5.13	5.5	7.61	-318.35	11.32
Price/Cash Flow Low	- -	26.88	11.63	8.64	28.09	4.43	2.22	2.52	5.84	4.78	2.48	1.11	3.53	-35.37	5.39
Price/Free Cash Flow Average	- -	7.28	7.24	7.04	8.12	6.53	2.16	9.53	4.02	8.92	2.07	2.18	1.86	-137.67	8.49
Price/Free Cash Flow High	- -	10.22	9.37	8.95	12.08	10.71	4.24	16.03	5.25	13.03	3.03	3.57	2.64	-318.35	11.48
Price/Free Cash Flow Low	- -	5.54	5.54	5.1	5.68	1.96	1.36	2.53	2.86	4.76	1.47	0.72	1.22	-35.37	5.47
EV/Sales Average	- -	3.11	4.39	3.46	5.7	3.14	1.03	1.9	2.02	1.44	0.87	0.74	1.56	1.6	1.62
EV/Sales High	- -	4.52	5.77	4.68	8.67	5.31	2.27	3.4	2.64	2.1	1.32	1.48	2.23	3.35	1.96
EV/Sales Low	- -	2.28	3.3	2.23	3.86	0.76	0.55	0.3	1.42	0.76	0.58	- -	1.01	0.62	1.27
EV/EBITDA Average	72.52	10.49	8.24	6.05	12.95	10.95	9.78	6.39	7.19	8.05	4.86	1.96	4.18	9.61	10.31
EV/EBITDA High	72.52	15.22	10.81	8.17	19.72	18.54	21.62	11.4	9.43	11.79	7.39	3.93	5.98	20.05	12.5
EV/EBITDA Low	72.52	7.68	6.18	3.89	8.78	2.65	5.21	1	5.08	4.26	3.27	-0.12	2.71	3.69	8.11
EV/EBIT Average	72.52	17.77	10.68	7.62	20.83	72.97	-6.18	14.19	17.12	169.37	124.98	3.39	7.48	491.06	62.43
EV/EBIT High	72.52	25.79	14.01	10.29	31.72	123.55	-13.66	25.34	22.44	248.13	190.24	6.81	10.7	1,024.86	75.68
EV/EBIT Low	72.52	13.01	8.01	4.91	14.13	17.64	-3.29	2.22	12.1	89.69	84.06	-0.21	4.85	188.85	49.09
Last Price	- -	4.5	6.83	9.48	4.97	1.6	0.86	1.59	1.91	1.15	1.49	2.15	1.9	0.38	0.35
High Price	- -	4.5	7.19	11.22	10.06	6	2.59	3.38	2.4	2.33	2.15	2.63	3.23	2.16	0.57
Enterprise Value Average	-38	161	460	648	940	522	163	275	313	281	233	236	681	623	603
Enterprise Value High	-38	233	603	876	1,432	883	360	492	410	412	355	475	975	1,301	731
Enterprise Value Low	-38	118	345	417	638	126	87	43	221	149	157	-15	442	240	474

	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Shares Outstanding	56	56	92	149	154	154	155	158	177	178	179	295	311	838	1,091
Diluted Weighted Avg Shares	56	56	93	96	150	154	155	159	174	178	179	238	312	553	879
Basic Weighted Avg Shares	56	56	88	95	149	154	155	158	173	178	179	233	308	553	866
Revenue per Share	- -	0.92	1.19	1.97	1.11	1.08	1.02	0.92	0.9	1.1	1.51	1.37	1.42	0.7	0.43
EBITDA per Share	-0.01	0.27	0.63	1.13	0.49	0.31	0.11	0.27	0.25	0.2	0.27	0.52	0.53	0.12	0.07
Operating Income per Share	-0.01	0.16	0.49	0.9	0.3	0.05	-0.17	0.12	0.11	0.01	0.01	0.3	0.3	- -	0.01
Basic EPS, GAAP	-0.01	0.07	0.3	0.68	0.03	-0.03	-1.31	0.03	0.14	-0.04	-0.52	0.06	0.09	-0.28	0.04
Basic EPS from Cont Ops	-0.01	0.07	0.3	0.68	0.03	-0.03	-1.31	0.03	0.14	-0.04	-0.52	0.06	0.09	-0.28	0.04
Diluted EPS, GAAP	-0.01	0.07	0.28	0.68	0.03	-0.03	-1.31	0.03	0.14	-0.04	-0.52	0.06	0.08	-0.28	0.04
Diluted EPS from Cont Ops	-0.01	0.07	0.28	0.68	0.03	-0.03	-1.31	0.03	0.14	-0.04	-0.52	0.06	0.08	-0.28	0.04
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	- -	0.09	0.37	0.74	0.17	0.25	0.37	0.21	0.22	0.18	0.42	0.48	0.42	-0.01	0.05
Free Cash Flow per Basic Share	- -	-0.26	-0.08	0.22	-0.5	-0.06	0.13	0.21	-0.01	0.18	0.13	0.2	-0.39	-0.01	0.05
Cash & Equivalents per Share	0.85	0.45	0.4	2.02	0.54	0.33	0.3	0.27	0.08	0.09	0.22	0.95	0.67	0.13	0.1
Book Value per Share	-0.01	-0.06	3.5	8.44	5.58	5.36	4.04	4.03	4	3.87	3.34	3.54	2.86	1.68	1.2
Tangible Book Value per Share	2.57	2.49	3.65	8.55	5.4	5.03	3.48	3.54	3.65	3.43	2.97	3.31	2.7	1.51	1.12

Argonaut Gold Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)