Diversified Royalty Ratios and Metrics

Market cap in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 9, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Cap	813	629	472	390	421	346
Market Cap Growth	63.43%	33.18%	21.17%	-7.58%	21.94%	19.83%
Enterprise Value	1,090	874.99	698.04	677.23	620.45	458.48
Last Close Price	4.75	3.72	2.91	2.73	2.98	2.82
PE Ratio	23.77	17.71	18.19	12.41	24.83	14.84
Forward PE	19.51	16.34	15.26	12.75	17.04	17.17
PS Ratio	11.19	8.88	7.26	6.89	9.33	9.27
PB Ratio	2.81	2.18	1.63	1.64	1.80	1.80
P/TBV Ratio	2.82	2.20	1.65	1.66	1.62	2.00
P/FCF Ratio	18.92	13.84	10.15	12.64	14.85	12.54
P/OCF Ratio	18.91	13.84	10.15	12.64	14.85	12.43
EV/Sales Ratio	15.00	12.36	10.74	11.99	13.73	12.30
EV/EBITDA Ratio	16.76	8838.28	6777.06	6772.29	6204.49	5094.18
EV/FCF Ratio	25.36	19.27	15.02	21.98	21.87	16.63
Debt / Equity Ratio	1.00	0.85	0.78	1.21	0.85	0.59
Debt / EBITDA Ratio	2910.01	2489.40	2195.00	2877.24	1990.09	1253.99
Debt / FCF Ratio	6.77	5.43	4.86	9.34	7.01	4.09
Net Debt / Equity Ratio	1.00	0.85	0.78	1.21	0.85	0.59
Net Debt / EBITDA Ratio	2910.01	2489.40	2195.00	2877.24	1990.09	1253.99
Net Debt / FCF Ratio	6.77	5.43	4.86	9.34	7.01	4.09
Asset Turnover	0.11	0.12	0.11	0.11	0.11	0.10
Return on Equity (ROE)	12.54%	12.70%	10.12%	13.46%	7.32%	12.34%
Earnings Yield	4.46%	5.65%	5.50%	8.06%	4.03%	6.74%
FCF Yield	5.28%	7.22%	9.85%	7.91%	6.73%	7.98%
Dividend Yield	6.01%	6.16%	7.38%	7.73%	6.54%	6.43%
Payout Ratio	140.52%	105.53%	130.82%	94.86%	157.43%	94.03%
Buyback Yield / Dilution	-2.83%	-4.46%	-13.61%	-13.57%	6.43%	-14.05%
Total Shareholder Return	3.18%	1.70%	-6.23%	-5.85%	12.97%	-7.62%