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 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Feb '26 Feb 5, 2026	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Market Capitalization	1,840	283	216	237	115	74
Market Cap Growth	540.05%	31.09%	-9.02%	106.91%	54.02%	-
Enterprise Value	1,820	301	244	289	138	63
Last Close Price	28.86	11.50	11.00	13.10	16.60	16.70
Forward PE	25.55	21.91	-	-	-	70.32
PS Ratio	39.90	12.03	13.90	18.16	13.69	11.40
PB Ratio	6.43	1.00	1.05	1.20	1.79	2.17
P/TBV Ratio	6.43	1.00	1.05	1.20	1.79	2.17
P/FCF Ratio	220.03	40.79	572.80	-	80.88	31.60
P/OCF Ratio	59.62	40.79	81.91	-	80.88	31.60
EV/Sales Ratio	39.46	12.83	15.74	22.13	16.52	9.61
EV/EBITDA Ratio	52.53	26.38	49.83	103.05	42.54	16.79
EV/EBIT Ratio	118.47	290.43	-	-	-	39.61
EV/FCF Ratio	217.61	43.48	648.78	-	97.58	26.64
Debt / Equity Ratio	-	0.01	0.19	0.21	0.48	-
Debt / EBITDA Ratio	-	0.34	8.08	14.51	9.52	-
Debt / FCF Ratio	-	0.56	105.26	-	21.83	-
Asset Turnover	0.17	0.08	0.06	0.07	0.13	0.30
Quick Ratio	10.27	6.22	9.22	2.71	5.65	10.60
Current Ratio	10.33	6.30	9.43	5.44	5.89	10.69
Return on Equity (ROE)	2.83%	-0.18%	-2.02%	-18.50%	-12.21%	-15.81%
Return on Assets (ROA)	2.89%	0.23%	-1.06%	-1.61%	-0.38%	4.47%
Return on Invested Capital (ROIC)	3.09%	-0.12%	-1.92%	-2.96%	-0.58%	11.53%
Return on Capital Employed (ROCE)	4.30%	0.40%	-1.70%	-1.90%	-0.40%	4.60%
Earnings Yield	0.39%	-0.18%	-2.39%	-10.40%	-5.22%	-4.51%
FCF Yield	0.45%	2.45%	0.18%	-7.65%	1.24%	3.16%
Buyback Yield / Dilution	-23.86%	-9.34%	-78.05%	-57.94%	-110.59%	-77.87%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.