VMET Basic Materials

Versamet Royalties Corporation

$8.59+0.82%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Basic Materials
Industry: Other Precious Metals & Mining
Country: Canada
Market cap: 934.8M USD
Enterprise value: 1.3B USD

Overall health

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: less short-term liquidity (current ratio 0.74 vs a peer median of 1.76) and more debt relative to equity (0.95× vs a peer median of 0.36×)higher risk: less liquidity (current ratio 0.74 vs peers 1.76) and more debt vs equity (0.95× vs peers 0.36×)
Not enough data: growth

Would rank #816 of 1,217 fully scored basic materials companies (bottom 34%)

Partial overall score — 3/4 categories available.

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.
Versamet Royalties reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.
Financials may be out of date. Latest financial period ended 10 months ago.
The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.
Wide margins. Operating margin 112% (12 months to Dec 2025) vs a peer median of 7.6%.Operating margin 112% vs peers 7.6%.
Versamet Royalties keeps 112% of revenue as operating profit, more than 95% of peers (median 7.6%).
Fast revenue growth. Revenue grew 189% in the 12 months to December 2025 vs the 12 months before, faster than 95% of peers, from a small base ($35M of revenue over 12 months).
Revenue grew 189% in the 12 months to December 2025 vs the 12 months before, faster than 95% of its peers.

StockQuotient Score

42/ 100

Oct 5 42 → Nov 4 42

Valuation

Is the price right?

31/100

Weak

3/3 inputs reported · High confidence

Why

Weaker than most peers on:

▼ FCF yield
▼ Earnings yield
▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield1.3%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value30% base weight · Z-score -0.65Sector median: 0.0364 · MAD: 0.0364

EBITDA yield6.2%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score -0.46Sector median: 0.0854 · MAD: 0.0520

Free cash flow yield-8.9%

SEC filings (IFRS mapped) · 12 months to Dec 2025 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0261 · MAD: 0.0261

Other data (not scored)

Book yield14.6%

SEC filings (IFRS mapped) · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5947 · MAD: 0.3137

Growth

Is it growing?

Insufficient data

Insufficient data: 1 of 3 inputs reported (at least 2 needed). We leave it blank rather than fill the gap with a made-up middle value.

Profitability

Does it earn well?

87/100

Strong

3/3 inputs reported · High confidence

Why

Stronger than most peers on:

▲ Operating margin
▲ ROIC
▲ ROA

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin111.5%

SEC filings (IFRS mapped) · 12 months to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score 5.45Sector median: 0.0757 · MAD: 0.0617

Return on assets4.9%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 0.89Sector median: 0.0249 · MAD: 0.0265

Return on invested capital13.3%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 1.14Sector median: 0.0675 · MAD: 0.0575

Other data (not scored)

Gross margin38.8%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.2138 · MAD: 0.1202

Return on equity8.7%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.0537 · MAD: 0.0694

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

2/3 inputs reported · Partial data

Why

Weaker than most peers on:

▼ Current ratio
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

BetaUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.6950 · MAD: 0.2810

Current ratio0.74×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score -1.51Sector median: 1.7610 · MAD: 0.6770

Debt / equity0.95×

Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score -2.02Sector median: 0.3578 · MAD: 0.2929

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Versamet Royalties

Is Versamet Royalties getting weaker?: A comparison of its latest SEC filing with the previous one isn't available yet. Its overall score is unchanged at 42/100 since Oct 28, 2026.
How is Versamet Royalties valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 31/100 against 1,371 basic materials peers. Free cash flow yield -8.9% vs a peer median of 2.6% (weaker than 100% of peers).Free cash flow yield -8.9% vs peers 2.6% (weaker than 100% of peers).
Is Versamet Royalties growing?: Insufficient data: 1 of 3 inputs reported (at least 2 needed).
How profitable is Versamet Royalties?: More profitable than most of its peers. Profitability scores 87/100 against 1,371 basic materials peers. Operating margin 111.5% vs a peer median of 7.6% (stronger than 95% of peers).Operating margin 111.5% vs peers 7.6% (stronger than 95% of peers).
How risky is Versamet Royalties?: Higher risk relative to 1,371 basic materials peers, judged on debt, liquidity and share-price swings. Current ratio 0.74× vs a peer median of 1.76× (weaker than 92% of peers).Current ratio 0.74× vs peers 1.76× (weaker than 92% of peers). A relative measure, not a bankruptcy probability.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2024	FY 2025	Change
Gross margin	9.9%	38.8%	▲ 29 pts
Operating margin	11.5%	111.5%	▲ 100 pts
Net margin	-20.4%	58.5%	▲ 79 pts
Return on assets (ROA)	-1.1%	4.9%	▲ 5.9 pts
Return on equity (ROE)	-1.2%	8.7%	▲ 9.8 pts
Free cash flow margin	60.9%	-410.0%	▼ 471 pts
Current ratio	0.56×	0.74×	▲ 31%
Interest coverage	0.38×	3.19×	▲ 728%

VMET price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: less short-term liquidity (current ratio 0.74 vs a peer median of 1.76) and more debt relative to equity (0.95× vs a peer median of 0.36×)higher risk: less liquidity (current ratio 0.74 vs peers 1.76) and more debt vs equity (0.95× vs peers 0.36×)

Not enough data: growth

Would rank #816 of 1,217 fully scored basic materials companies (bottom 34%)

Partial overall score — 3/4 categories available.

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.

Versamet Royalties reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.

Financials may be out of date. Latest financial period ended 10 months ago.

The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.

Wide margins. Operating margin 112% (12 months to Dec 2025) vs a peer median of 7.6%.Operating margin 112% vs peers 7.6%.

Versamet Royalties keeps 112% of revenue as operating profit, more than 95% of peers (median 7.6%).

Fast revenue growth. Revenue grew 189% in the 12 months to December 2025 vs the 12 months before, faster than 95% of peers, from a small base ($35M of revenue over 12 months).

Revenue grew 189% in the 12 months to December 2025 vs the 12 months before, faster than 95% of its peers.

Questions investors ask about Versamet Royalties

Is Versamet Royalties getting weaker?

A comparison of its latest SEC filing with the previous one isn't available yet. Its overall score is unchanged at 42/100 since Oct 28, 2026.

How is Versamet Royalties valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 31/100 against 1,371 basic materials peers. Free cash flow yield -8.9% vs a peer median of 2.6% (weaker than 100% of peers).Free cash flow yield -8.9% vs peers 2.6% (weaker than 100% of peers).

Is Versamet Royalties growing?

Insufficient data: 1 of 3 inputs reported (at least 2 needed).

How profitable is Versamet Royalties?

More profitable than most of its peers. Profitability scores 87/100 against 1,371 basic materials peers. Operating margin 111.5% vs a peer median of 7.6% (stronger than 95% of peers).Operating margin 111.5% vs peers 7.6% (stronger than 95% of peers).

How risky is Versamet Royalties?

Higher risk relative to 1,371 basic materials peers, judged on debt, liquidity and share-price swings. Current ratio 0.74× vs a peer median of 1.76× (weaker than 92% of peers).Current ratio 0.74× vs peers 1.76× (weaker than 92% of peers). A relative measure, not a bankruptcy probability.

Key ratios

FY 2024

FY 2025

Change

Gross margin

9.9%

38.8%

▲ 29 pts

Operating margin

11.5%

111.5%

▲ 100 pts

Net margin

-20.4%

58.5%

▲ 79 pts

Return on assets (ROA)

-1.1%

4.9%

▲ 5.9 pts

Return on equity (ROE)

-1.2%

8.7%

▲ 9.8 pts

Free cash flow margin

60.9%

-410.0%

▼ 471 pts

Current ratio

0.56×

0.74×

▲ 31%

Interest coverage

0.38×

3.19×

▲ 728%