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Employees: 13
Size Ecora Royalties (ECOR.L) is a United Kingdom Materials company (Other Metals/Minerals) with a market value of $475M, the 299th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £141.40 on 6 Nov 2026.
Performance Over six months the shares fell 3.5%, against -35.8% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 167.5% over the last twelve months (peer median +3.5%); the operating margin is 47.9% (peer median 7.8%).
Valuation It trades at 12.1× forward earnings against a peer median of 11.0× (4th most expensive of 11).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is +6 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 5.5 points below its cost of capital (10.1% WACC).
Next results Next results expected around 31 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £53.7M | £42.4M | £46.6M | £49.8M | £115M |
| Revenue growth | — | -9% | -6% | -57% | — |
| Gross profit | £34.5M | £23.2M | £33.8M | £37.7M | £99.2M |
| EBITDA | £39.1M | £29.9M | £37.1M | £41.7M | £102M |
| Net income | £37.3M | £16.8M | -£7.69M | £681,388 | £76.8M |
| Free cash flow | £28.4M | -£19.5M | £15.3M | £22.2M | £104M |
| Capital expenditure | -£1.22M | £38.8M | £7.18M | £45.9M | £48.6M |
| Total debt | n/a | £71.7M | £74.5M | £67.3M | £35.7M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ECOR.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.6% | -14.0% | 9th highest of 21 |
| 6-month return | -3.5% | -35.8% | 2nd highest of 21 |
| Distance from 52-week high | -22.1% | -49.5% | 2nd highest of 21 |
| Revenue growth (TTM) | +167.5% | +3.5% | 2nd highest of 17 |
| Operating margin | 47.9% | 7.8% | highest of 18 |
| Forward P/E | 12.1× | 11.0× | 4th most expensive of 11 |
| Growth the price implies (Req g, 7 yrs) | 11.0% | 9.1% | 3rd most demanding of 8 |
| Growth delivered (Del g) | +4.5% | +4.2% | 4th highest of 8 |
| Hurdle (Req g minus delivered) | +6.5 pp | +5.1 pp | 3rd most demanding of 8 |
| ROIC minus cost of capital | -5.5 pp | -5.8 pp | 11th highest of 21 |
| EV / EBITDA | 10.5× | 7.5× | 2nd most expensive of 8 |
| Net debt / EBITDA | 1.5× | 1.0× | 3rd most indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ecora Royalties ECOR.L | United Kingdom | $475M | -4% | +168% | 48% | 12.1× | 11.0% | +4.5% |
| Ferroglobe GSM | United States | $477M | -37% | +4% | 0% | 4.5× | n/a | n/a |
| Lindian Resources LIN.AX | Australia | $481M | -50% | n/a | n/a | n/a | n/a | n/a |
| Xiamen Sunrise 002593.SZ | China | $485M | -25% | +5% | 8% | n/a | -7.2% | +4.1% |
| Moil MOIL.NS | India | $465M | -32% | +3% | 19% | 10.6× | n/a | n/a |
| Luxfer LXFR | United States | $463M | +11% | -9% | 10% | 16.6× | 9.1% | +3.4% |
| Ximei Resources 9936.HK | Hong Kong | $461M | -40% | +52% | 14% | 9.3× | n/a | n/a |
| Ruitai Materials Technology 002066.SZ | China | $489M | -40% | -1% | -4% | 40.9× | n/a | n/a |
| Xinjiang Xinxin Mining Industry 3833.HK | Hong Kong | $457M | -39% | +20% | 17% | n/a | n/a | n/a |
| Elevra Lithium ELV.AX | Australia | $445M | -74% | -8% | -34% | 29.4× | n/a | n/a |
| Intrepid Potash IPI | United States | $443M | -13% | +5% | 6% | 11.8× | 9.9% | +8.7% |
| Deep Yellow DYL.AX | Australia | $510M | -57% | n/a | n/a | n/a | n/a | n/a |
| Guangdong Mingzhu 600382.SS | China | $512M | -36% | -6% | 18% | n/a | -4.3% | -9.4% |
| Core Lithium CXO.AX | Australia | $516M | -35% | n/a | -160% | 7.8× | n/a | n/a |
| Xiamen Zhongchuang Environmental Technology 300056.SZ | China | $434M | -32% | -12% | -41% | n/a | n/a | n/a |
| Shanghai Re.fine Environment Sci-tech 001396.SZ | China | $433M | -42% | +4% | 12% | n/a | 27.1% | +10.6% |
| PMET Resources PMET.TO | Canada | $431M | -56% | n/a | n/a | n/a | n/a | n/a |
| Chongqing Changjiang River Moulding Material (Group) 001296.SZ | China | $430M | -16% | -1% | 7% | n/a | 14.0% | +4.2% |
| Central Asia Metals CAML.L | United Kingdom | $430M | -17% | +23% | 39% | 4.3× | -9.5% | +6.9% |
| Magna Mining NICU.TO | Canada | $429M | -15% | +299% | -34% | n/a | n/a | n/a |
| Gloria Material Technology 5009.TWO | Taiwan | $527M | -15% | +3% | 10% | 11.3× | n/a | n/a |