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Miner operating the Caijiaying zinc-gold-silver-lead mine in Hebei, China, through an 88.8%-owned Chinese subsidiary.
Miner operating the Caijiaying zinc-gold-silver-lead mine in Hebei, China, through an 88.8%-owned Chinese subsidiary.
Sells zinc and lead concentrates to Chinese smelters, which pay for the metal contained less processing charges, with the gold and silver recovered adding a by-product credit. Everything comes from one mine in Hebei, held through a Chinese subsidiary in which a local partner owns a minority.
In one line: A small China-focused base-metals miner.
Moat: narrow (installed base, regulatory licence). One of the first foreign-invested metal mines licensed in China, with an established local partner and plant.
Headquarters: London, UK (mine in Hebei, China) · Employees: 594
Size Griffin Mining (GFM.L) is a United Kingdom Materials company (Precious Metals) with a market value of $711M, the 257th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £305.00 on 6 Nov 2026.
Performance Over six months the shares fell 4.1%, against -4.5% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 10th highest of 19 in its peer set.
Growth Revenue grew 28.8% over the last twelve months (peer median +74.8%); the operating margin is 30.1% (peer median 31.9%).
Valuation It trades at 20.3× forward earnings against a peer median of 11.9× (2nd most expensive of 11).
Price implies For today's price to make sense, revenue must grow about 13% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is +1 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 3.0 points above its cost of capital (10.4% WACC).
Next results Next results expected around 13 May 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £113M | £104M | £106M | £117M | £76.6M |
| Revenue growth | — | -1% | -10% | +53% | — |
| Gross profit | £58.0M | £44.3M | £38.6M | £39.5M | £29.6M |
| EBITDA | £47.8M | £40.1M | £32.8M | £41.7M | £28.6M |
| Net income | £25.5M | £16.7M | £8.88M | £12.3M | £6.25M |
| Free cash flow | £4.66M | £14.8M | £285,640 | £21.4M | -£4.20M |
| Capital expenditure | £27.3M | £27.4M | £16.4M | £18.7M | £17.3M |
| Total debt | n/a | £339,764 | £495,050 | £579,699 | £708,288 |
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 |
|---|---|---|---|---|---|---|
| Griffin Mining GFM.L | $711M | -4% | +29% | 30% | 20.3× | 13.2% |
| MMG 1208.HK | $11.2B | -27% | +48% | 43% | 6.3× | -11.3% |
| Zijin Mining 601899.SS | $109B | -15% | +16% | 30% | 9.6× | -10.2% |
| South32 S32.AX | $13.7B | -1% | -4% | 15% | 12.7× | 6.3% |
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 | GFM.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.3% | -9.0% | 5th highest of 21 |
| 6-month return | -4.1% | -4.5% | 10th highest of 19 |
| Distance from 52-week high | -13.8% | -33.7% | 2nd highest of 21 |
| Revenue growth (TTM) | +28.8% | +74.8% | 3rd lowest of 12 |
| Operating margin | 30.1% | 31.9% | 7th lowest of 14 |
| Forward P/E | 20.3× | 11.9× | 2nd most expensive of 11 |
| Growth the price implies (Req g, 7 yrs) | 13.2% | -0.5% | 2nd most demanding of 8 |
| Growth delivered (Del g) | +12.2% | +59.3% | lowest of 8 |
| Hurdle (Req g minus delivered) | +1.1 pp | -65.0 pp | most demanding of 8 |
| ROIC minus cost of capital | +3.0 pp | -13.8 pp | 9th highest of 20 |
| EV / EBITDA | 10.4× | 4.4× | 3rd most expensive of 10 |
| Net debt / EBITDA | -0.6× | -0.1× | 4th least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Griffin Mining GFM.L | United Kingdom | $711M | -4% | +29% | 30% | 20.3× | 13.2% | +12.2% |
| Mako Mining MKO.V | Canada | $712M | +7% | +79% | 41% | 10.5× | 1.5% | +156.3% |
| Santacruz Silver Mining SCZ.TO | Canada | $707M | n/a | +38% | 30% | 9.8× | 7.1% | +59.3% |
| Tungsten West TUN.L | United Kingdom | $694M | -18% | n/a | -1,558% | 106.7× | n/a | n/a |
| Founders Metals FDR.V | Canada | $734M | +42% | n/a | n/a | n/a | n/a | n/a |
| Catalyst Metals CYL.AX | Australia | $746M | -28% | +75% | 45% | 9.5× | -15.5% | +85.8% |
| First Mining Gold FF.TO | Canada | $670M | +33% | n/a | n/a | n/a | n/a | n/a |
| New Found Gold NFGC.TO | Canada | $662M | -16% | n/a | -233% | n/a | n/a | n/a |
| Amaroq AMRQ.L | United Kingdom | $657M | 0% | +2,134% | 12% | n/a | n/a | n/a |
| Galiano Gold GAU.TO | Canada | $653M | +2% | +91% | 44% | 3.7× | -13.8% | +51.1% |
| Kingsgate Consolidated KCN.AX | Australia | $779M | -39% | +77% | 38% | 11.5× | -6.9% | +117.2% |
| FireFly Metals FFM.AX | Australia | $798M | -31% | n/a | n/a | n/a | n/a | n/a |
| Dakota Gold DC | United States | $798M | -1% | n/a | n/a | n/a | n/a | n/a |
| Avino Silver & Gold Mines ASM.TO | Canada | $799M | -30% | +54% | 44% | 14.0× | 23.6% | +42.1% |
| St. Barbara SBM.AX | Australia | $629M | +5% | -76% | -935% | 14.7× | n/a | n/a |
| Osisko Gold OGG.V | Canada | $814M | -18% | +805% | -51% | n/a | n/a | n/a |
| Cadillac Mines CADY.TO | Canada | $815M | n/a | n/a | n/a | n/a | n/a | n/a |
| Metals Exploration MTL.L | United Kingdom | $617M | +17% | -17% | 32% | 13.3× | n/a | n/a |
| Liberty Gold LGD.TO | Canada | $819M | +50% | n/a | n/a | n/a | n/a | n/a |
| Pantoro Gold PNR.AX | Australia | $826M | -9% | +35% | 34% | 12.2× | -0.5% | +40.5% |
| Troilus Mining TLG.TO | Canada | $611M | -8% | n/a | n/a | n/a | n/a | n/a |