Filo (TSX:FIL) Stock Valuation, Peer Comparison & Price Targets

Q: What is the Fair Price of FIL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

FIL (CA$32.78) is trading below our estimate of [[fair value]] (CA$122.04)

Share Price vs Fair Value

What is the Fair Price of FIL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FIL (CA$32.78) is trading below our estimate of fair value (CA$122.04)

Significantly Below Fair Value: FIL is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FIL?

Key metric: As FIL is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for FIL. This is calculated by dividing FIL's market cap by their current book value.
What is FIL's PB Ratio?
PB Ratio	32x
Book	US$99.33m
Market Cap	US$3.18b

FIL key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	n/a
Enterprise Value/EBITDA	-27.5x
PEG Ratio	n/a

Price to Book Ratio vs Peers

How does FIL's PB Ratio compare to its peers?

The above table shows the PB ratio for FIL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PB	Estimated Growth	Market Cap
Peer Average	15.2x
HBM Hudbay Minerals	1.4x	28.6%	CA$5.0b
NGEX NGEx Minerals	54.2x	-5.4%	CA$2.6b
FOM Foran Mining	2.2x	64.2%	CA$1.8b
AFM Alphamin Resources	3x	n/a	CA$1.5b
FIL Filo	32x	4.2%	CA$4.4b

Price-To-Book vs Peers: FIL is expensive based on its Price-To-Book Ratio (32x) compared to the peer average (15.2x).

Price to Book Ratio vs Industry

How does FIL's PB Ratio compare vs other companies in the CA Metals and Mining Industry?

89 Companies	Price / Book	Estimated Growth	Market Cap
S Sherritt International	0.1x	n/a	US$52.57m
WM Wallbridge Mining	0.2x	n/a	US$43.61m
NCU Nevada Copper	0.1x	n/a	US$31.56m
ELR Eastern Platinum	0.3x	n/a	US$26.05m

89 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Book vs Industry: FIL is expensive based on its Price-To-Book Ratio (32x) compared to the Canadian Metals and Mining industry average (1.4x).

Price to Book Ratio vs Fair Ratio

What is FIL's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FIL PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	32x
Fair PB Ratio	n/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate FIL's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst FIL forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	CA$32.78	CA$32.92 +0.4%	0.8%	CA$33.00	CA$32.07	n/a	11
Nov ’25	CA$32.24	CA$32.82 +1.8%	1.8%	CA$33.00	CA$30.97	n/a	11
Oct ’25	CA$32.38	CA$32.80 +1.3%	1.9%	CA$33.00	CA$30.97	n/a	10
Sep ’25	CA$32.08	CA$32.90 +2.5%	2.2%	CA$34.00	CA$30.97	n/a	10
Aug ’25	CA$31.46	CA$34.31 +9.1%	7.5%	CA$40.00	CA$32.00	n/a	10
Jul ’25	CA$25.08	CA$35.32 +40.8%	12.9%	CA$47.00	CA$29.00	n/a	13
Jun ’25	CA$25.17	CA$34.38 +36.6%	13.0%	CA$47.00	CA$29.00	n/a	13
May ’25	CA$24.49	CA$33.49 +36.8%	15.8%	CA$47.00	CA$26.00	n/a	12
Apr ’25	CA$24.13	CA$31.57 +30.8%	11.8%	CA$38.50	CA$26.00	n/a	12
Mar ’25	CA$22.36	CA$31.30 +40.0%	12.8%	CA$38.50	CA$24.66	n/a	12
Feb ’25	CA$20.76	CA$31.30 +50.8%	12.8%	CA$38.50	CA$24.66	n/a	12
Jan ’25	CA$21.11	CA$30.39 +44.0%	15.6%	CA$38.50	CA$24.00	n/a	12
Dec ’24	CA$21.00	CA$30.18 +43.7%	14.7%	CA$37.00	CA$24.00	n/a	12
Nov ’24	CA$17.66	CA$30.86 +74.8%	13.5%	CA$37.00	CA$24.00	CA$32.24	11
Oct ’24	CA$20.29	CA$32.38 +59.6%	13.8%	CA$40.00	CA$24.00	CA$32.38	12
Sep ’24	CA$22.23	CA$32.38 +45.6%	13.8%	CA$40.00	CA$24.00	CA$32.08	12
Aug ’24	CA$24.09	CA$32.38 +34.4%	13.9%	CA$40.00	CA$24.00	CA$31.46	12
Jul ’24	CA$25.81	CA$32.38 +25.4%	14.4%	CA$40.00	CA$24.00	CA$25.08	12
Jun ’24	CA$22.36	CA$31.71 +41.8%	15.1%	CA$40.00	CA$24.00	CA$25.17	12
May ’24	CA$22.57	CA$31.88 +41.2%	15.6%	CA$40.00	CA$24.00	CA$24.49	12
Apr ’24	CA$23.24	CA$31.13 +33.9%	16.3%	CA$40.00	CA$23.00	CA$24.13	12
Mar ’24	CA$22.31	CA$30.86 +38.3%	15.2%	CA$40.00	CA$23.00	CA$22.36	11
Feb ’24	CA$23.98	CA$30.73 +28.1%	15.3%	CA$40.00	CA$23.00	CA$20.76	11
Jan ’24	CA$23.24	CA$26.45 +13.8%	15.3%	CA$32.50	CA$18.50	CA$21.11	11
Dec ’23	CA$19.52	CA$25.86 +32.5%	14.1%	CA$32.50	CA$18.50	CA$21.00	11
Nov ’23	CA$17.55	CA$25.91 +47.6%	14.1%	CA$32.50	CA$18.50	CA$17.66	11

Analyst Forecast: Target price is less than 20% higher than the current share price.

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