Elemental 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	Apr '26 Apr 6, 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	1,670	575	283	215	237	114
Market Cap Growth	407.25%	103.60%	31.23%	-9.11%	106.88%	53.96%
Enterprise Value	1,576	480.12	279.97	240.07	253.91	137.65
PE Ratio	687.55	282.00	-400.50	-41.45	-5.68	-18.76
Forward PE	34.50	27.20	21.91	-	-	-
PS Ratio	27.92	9.60	12.06	13.83	18.11	13.70
PB Ratio	1.56	0.54	1.00	1.05	1.19	1.79
P/TBV Ratio	1.03	0.94	1.20	1.32	0.94	2.19
P/FCF Ratio	40.87	13.60	40.88	81.52	-241.43	80.95
P/OCF Ratio	39.54	13.60	40.88	81.52	-241.43	80.95
EV/Sales Ratio	26.34	8.02	11.95	15.43	19.41	16.47
EV/EBITDA Ratio	44.37	15.38	27.47	52.99	-23.31	42.43
EV/EBIT Ratio	120.36	54.75	-1696.42	-52.04	-13.89	-343.55
EV/FCF Ratio	38.57	11.35	40.51	90.91	-258.80	97.32
Debt / Equity Ratio	-	0	0.01	0.19	0.21	0.48
Debt / EBITDA Ratio	-	-	0.38	8.77	-3.74	9.52
Debt / FCF Ratio	-	-	0.56	15.05	-41.55	21.83
Net Debt / Equity Ratio	-0.09	-0.09	-0.01	0.12	0.09	0.36
Net Debt / EBITDA Ratio	-2.92	-3.04	-0.25	5.47	-1.56	7.14
Net Debt / FCF Ratio	-2.25	-2.25	-0.37	9.39	-17.37	16.37
Asset Turnover	0.08	0.08	0.08	0.06	0.07	0.13
Quick Ratio	6.58	6.58	6.30	9.27	2.76	5.89
Current Ratio	6.58	6.58	6.30	9.42	5.44	5.89
Return on Equity (ROE)	0.36%	0.36%	-0.21%	-2.59%	-18.50%	-12.22%
Return on Assets (ROA)	0.37%	0.32%	0.02%	-3.23%	-10.20%	-0.85%
Return on Invested Capital (ROIC)	0.40%	0.35%	0.02%	-3.54%	-11.39%	-1.05%
Return on Capital Employed (ROCE)	1.34%	1.17%	-0.06%	-1.91%	-10.62%	-0.62%
Earnings Yield	0.15%	0.35%	-0.25%	-2.41%	-17.62%	-5.33%
FCF Yield	2.45%	7.35%	2.45%	1.23%	-0.41%	1.24%
Dividend Yield	0.64%	0.00%	0.00%	0.00%	0.00%	0.00%
Buyback Yield / Dilution	-54.66%	-54.66%	-9.34%	-78.05%	-57.94%	-110.59%
Total Shareholder Return	-54.02%	-54.66%	-9.34%	-78.05%	-57.94%	-110.59%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.