Triple Flag Precious Metals Valuation

Q: What is the Fair Price of 3Y0 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

3Y0 (€14.13) is trading below our estimate of [[fair value]] (€19.42)

Is 3Y0 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 3Y0 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 3Y0 (€14.13) is trading below our estimate of fair value (€19.42)

Significantly Below Fair Value: 3Y0 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 3Y0?

Key metric: As 3Y0 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 3Y0. This is calculated by dividing 3Y0's market cap by their current revenue.
What is 3Y0's PS Ratio?
PS Ratio	17x
Sales	US$222.27m
Market Cap	US$3.77b

3Y0 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	17x
Enterprise Value/EBITDA	75.1x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 3Y0's PS Ratio compare to its peers?

The above table shows the PS ratio for 3Y0 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	0.6x
NDA Aurubis	0.2x	4.2%	€3.4b
TKA thyssenkrupp	0.07x	0.3%	€2.4b
WCH Wacker Chemie	0.6x	5.2%	€3.5b
FPE3 Fuchs	1.6x	3.6%	€5.1b
3Y0 Triple Flag Precious Metals	17x	6.5%	€5.2b

Price-To-Sales vs Peers: 3Y0 is expensive based on its Price-To-Sales Ratio (17x) compared to the peer average (0.6x).

Price to Sales Ratio vs Industry

How does 3Y0's PS Ratio compare vs other companies in the European Metals and Mining Industry?

35 Companies	Price / Sales	Estimated Growth	Market Cap

35 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 3Y0 is expensive based on its Price-To-Sales Ratio (17x) compared to the European Metals and Mining industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is 3Y0's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

3Y0 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	17x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate 3Y0's Price-To-Sales 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?

Analyst Forecast: Insufficient data to show price forecast.

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