Loading…
Australian gold miner operating the Okvau gold mine in Cambodia, with further Cambodian exploration ground.
Australian gold miner operating the Okvau gold mine in Cambodia, with further Cambodian exploration ground.
Revenue comes from a single mine, so income is gold sold at world prices less operating costs, and ore grade and plant throughput decide results. Cambodian royalties and taxes are due on output.
In one line: A single-asset Cambodian gold producer.
Moat: none. Commodity gold producer with no structural moat beyond mine grade/cost position.
Headquarters: Perth, Australia · Founded: 2004 · Employees: 358
Size Emerald Resources NL (EMR.AX) is an Australia Materials company (Precious Metals) with a market value of $3.04B, the 100th largest of 316 Australia companies the cockpit tracks. Shares closed at A$6.62 on 6 Nov 2026.
Performance Over six months the shares gained 5.8%, against -16.8% for the median peer and +4.1% for the Australia market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 39.8% over the last twelve months (peer median +56.6%); the operating margin is 61.2% (peer median 43.8%).
Valuation It trades at 15.2× forward earnings against a peer median of 8.2× (2nd most expensive of 15).
Price implies For today's price to make sense, revenue must grow about 1% a year for seven years (Req g). Recent delivered growth is +26%, so the hurdle is -25 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 39.7 points above its cost of capital (9.8% WACC).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | A$602M | A$602M | A$430M | A$366M | A$298M |
| Revenue growth | — | +40% | +18% | +23% | — |
| Gross profit | A$374M | A$374M | A$173M | A$161M | A$115M |
| EBITDA | A$402M | A$402M | A$204M | A$191M | A$149M |
| Net income | A$260M | A$260M | A$87.6M | A$84.3M | A$59.4M |
| Free cash flow | A$317M | A$317M | A$100M | A$115M | A$55.6M |
| Capital expenditure | A$7.66M | A$69.2M | A$17.7M | A$5.88M | A$8.61M |
| Total debt | n/a | A$31.9M | A$21.9M | A$48.8M | A$79.9M |
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.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Emerald Resources NL EMR.AX | $3.04B | +6% | +40% | 61% | 15.2× | 1.5% |
| Regis Resources RRL.AX | $3.49B | -3% | +43% | 43% | 8.5× | -9.5% |
| Perseus Mining PRU.AX | $5.77B | +11% | +13% | 48% | 11.8× | -1.1% |
| Ramelius Resources RMS.AX | $4.78B | +3% | -14% | 42% | 19.0× | 13.7% |
| Capricorn Metals CMM.AX | $4.42B | -1% | +45% | 58% | 17.6× | 12.7% |
| Genesis Minerals GMD.AX | $5.73B | +6% | +89% | 45% | 15.1× | 7.2% |
| Westgold Resources WGX.AX | $3.64B | -2% | +79% | 32% | 8.8× | -7.6% |
| Vault Minerals VAU.AX | $4.19B | +21% | +35% | 33% | 13.0× | -0.1% |
| Evolution Mining EVN.AX | $18.3B | -4% | +28% | 42% | 13.4× | 10.8% |
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 | EMR.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.0% | -3.5% | 3rd highest of 21 |
| 6-month return | +5.8% | -16.8% | 3rd highest of 21 |
| Distance from 52-week high | -18.4% | -32.7% | 5th highest of 21 |
| Revenue growth (TTM) | +39.8% | +56.6% | 5th lowest of 16 |
| Operating margin | 61.2% | 43.8% | highest of 16 |
| Forward P/E | 15.2× | 8.2× | 2nd most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 1.5% | -6.1% | 5th most demanding of 13 |
| Growth delivered (Del g) | +26.4% | +24.6% | 6th highest of 13 |
| Hurdle (Req g minus delivered) | -25.0 pp | -32.7 pp | 6th most demanding of 13 |
| ROIC minus cost of capital | +39.7 pp | +14.3 pp | 5th highest of 20 |
| EV / EBITDA | 9.9× | 5.2× | 2nd most expensive of 13 |
| Net debt / EBITDA | -1.0× | -0.3× | least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Emerald Resources NL EMR.AX | Australia | $3.04B | +6% | +40% | 61% | 15.2× | 1.5% | +26.4% |
| Predictive Discovery PDI.AX | Australia | $3.08B | -13% | n/a | -28% | n/a | n/a | n/a |
| Lingbao Gold 3330.HK | Hong Kong | $2.94B | -28% | -10% | 22% | 8.0× | -5.6% | +17.8% |
| Wesdome Gold Mines WDO.TO | Canada | $2.92B | +6% | +49% | 57% | 7.8× | -10.7% | +33.5% |
| Fortuna Mining FVI.TO | Canada | $2.87B | -5% | +6% | 49% | 6.4× | -4.6% | +29.0% |
| Seabridge Gold SEA.TO | Canada | $2.87B | -8% | n/a | n/a | n/a | n/a | n/a |
| Allied Gold AAUC.TO | Canada | $3.24B | -19% | +54% | 32% | 3.9× | n/a | n/a |
| Aris Mining ARIS.TO | Canada | $3.24B | -15% | +94% | 46% | 5.5× | 2.1% | +19.8% |
| Western Region Gold 601069.SS | China | $3.29B | -26% | +118% | n/a | 11.2× | 11.7% | +19.5% |
| Novagold Resources NG | United States | $2.81B | -27% | n/a | n/a | n/a | n/a | n/a |
| Hochschild Mining HOC.L | United Kingdom | $3.37B | -27% | +37% | 44% | 9.8× | -10.7% | +14.1% |
| West African Resources WAF.AX | Australia | $2.74B | +4% | +194% | 57% | 4.4× | -18.5% | +37.7% |
| Regis Resources RRL.AX | Australia | $3.49B | -3% | +43% | 43% | 8.5× | -9.5% | +23.5% |
| Westgold Resources WGX.AX | Australia | $3.64B | -2% | +79% | 32% | 8.8× | -7.6% | +33.7% |
| Sichuan Gold 001337.SZ | China | $2.52B | -25% | +57% | 56% | n/a | 17.7% | +13.6% |
| Aya Gold & Silver AYA.TO | Canada | $3.68B | +40% | +265% | 53% | 19.2× | 17.9% | +72.4% |
| Pan African Resources PAF.L | United Kingdom | $3.79B | -25% | +106% | 54% | 7.2× | -6.7% | +25.7% |
| Perpetua Resources PPTA | United States | $2.44B | -35% | n/a | n/a | n/a | n/a | n/a |
| Shandong Humon Smelting 002237.SZ | China | $2.44B | -32% | +25% | 1% | 11.2× | n/a | n/a |
| Skeena Resources SKE.TO | Canada | $3.90B | +6% | n/a | n/a | n/a | n/a | n/a |
| Endeavour Silver EDR.TO | Canada | $2.34B | -20% | +198% | 26% | 10.9× | n/a | n/a |