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Australian gold miner operating open-pit and underground mines in Western Australia.
Australian gold miner operating open-pit and underground mines in Western Australia.
In one line: A smaller Western Australia gold producer.
Moat: narrow (installed base). Established regional processing infrastructure lowers costs for its gold deposits.
Headquarters: Perth, Australia · Founded: 1998 · Employees: 380
Size Ramelius Resources (RMS.AX) is an Australia Materials company (Precious Metals) with a market value of $4.78B, the 69th largest of 316 Australia companies the cockpit tracks. Shares closed at A$3.67 on 6 Nov 2026.
Performance Over six months the shares gained 2.5%, against -0.4% for the median peer and +4.1% for the Australia market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue fell 14.2% over the last twelve months (peer median +50.3%); the operating margin is 42.1% (peer median 44.7%).
Valuation It trades at 19.0× forward earnings against a peer median of 11.8× (3rd most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 14% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is +3 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 2.0 points below its cost of capital (10.9% WACC).
Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | A$1.03B | A$1.03B | A$1.02B | A$883M | A$631M |
| Revenue growth | — | +1% | +15% | +40% | — |
| Gross profit | A$452M | A$451M | A$610M | A$287M | A$114M |
| EBITDA | A$764M | A$764M | A$758M | A$460M | A$273M |
| Net income | A$119M | A$119M | A$474M | A$217M | A$61.6M |
| Free cash flow | A$288M | A$288M | A$637M | A$368M | A$92.0M |
| Capital expenditure | A$316M | A$316M | A$160M | A$123M | A$189M |
| Total debt | n/a | A$79.5M | A$64.4M | A$10.5M | A$28.4M |
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 |
|---|---|---|---|---|---|---|
| Ramelius Resources RMS.AX | $4.78B | +3% | -14% | 42% | 19.0× | 13.7% |
| Genesis Minerals GMD.AX | $5.73B | +6% | +89% | 45% | 15.1× | 7.2% |
| Northern Star Resources NST.AX | $25.3B | +19% | +19% | 35% | 17.8× | 17.5% |
| 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 | RMS.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.1% | -0.4% | 9th lowest of 21 |
| 6-month return | +2.5% | -0.4% | 10th highest of 21 |
| Distance from 52-week high | -28.9% | -22.9% | 9th lowest of 21 |
| Revenue growth (TTM) | -14.2% | +50.3% | lowest of 19 |
| Operating margin | 42.1% | 44.7% | 7th lowest of 19 |
| Forward P/E | 19.0× | 11.8× | 3rd most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 13.7% | -1.1% | 2nd most demanding of 16 |
| Growth delivered (Del g) | +10.3% | +29.2% | lowest of 15 |
| Hurdle (Req g minus delivered) | +3.5 pp | -32.7 pp | most demanding of 15 |
| ROIC minus cost of capital | -2.0 pp | +19.7 pp | 3rd lowest of 21 |
| EV / EBITDA | 8.3× | 5.3× | 5th most expensive of 17 |
| Net debt / EBITDA | -0.7× | -0.5× | 7th least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ramelius Resources RMS.AX | Australia | $4.78B | +3% | -14% | 42% | 19.0× | 13.7% | +10.3% |
| Montage Gold MAU.TO | Canada | $4.79B | +17% | n/a | n/a | 18.4× | n/a | n/a |
| Hunan Gold 002155.SZ | China | $4.72B | -33% | +1% | 4% | 15.3× | 11.1% | +27.4% |
| K92 Mining KNT.TO | Canada | $4.86B | +10% | +62% | 68% | 11.0× | 0.7% | +31.3% |
| Torex Resources TXR.TO | Canada | $5.02B | +16% | +76% | 46% | 7.1× | -3.9% | +11.5% |
| JCHX MINING MANAGEMENT 603979.SS | China | $5.09B | -12% | +23% | 28% | 9.9× | -7.7% | +29.3% |
| Greatland Resources GGP.AX | Australia | $5.11B | -31% | +118% | 52% | 13.4× | -3.1% | n/a |
| Capricorn Metals CMM.AX | Australia | $4.42B | -1% | +45% | 58% | 17.6× | 12.7% | +33.9% |
| Centerra Gold CG.TO | Canada | $4.25B | +27% | +44% | 27% | 12.4× | 6.5% | +13.9% |
| Vault Minerals VAU.AX | Australia | $4.19B | +21% | +35% | 33% | 13.0× | -0.1% | +59.0% |
| SSR Mining SSRM | United States | $5.66B | -17% | +39% | 42% | 8.1× | n/a | n/a |
| Genesis Minerals GMD.AX | Australia | $5.73B | +6% | +89% | 45% | 15.1× | 7.2% | +182.9% |
| Perseus Mining PRU.AX | Australia | $5.77B | +11% | +13% | 48% | 11.8× | -1.1% | +26.4% |
| Skeena Resources SKE.TO | Canada | $3.90B | +6% | n/a | n/a | n/a | n/a | n/a |
| Pan African Resources PAF.L | United Kingdom | $3.79B | -25% | +106% | 54% | 7.2× | -6.7% | +25.7% |
| Aya Gold & Silver AYA.TO | Canada | $3.68B | +40% | +265% | 53% | 19.2× | 17.9% | +72.4% |
| OceanaGold OGC.TO | Canada | $6.27B | -5% | +56% | 44% | 7.1× | -5.4% | +29.2% |
| Westgold Resources WGX.AX | Australia | $3.64B | -2% | +79% | 32% | 8.8× | -7.6% | +33.7% |
| Sibanye Stillwater Limited Sponsored ADR SBSW | United States | $6.30B | -29% | +59% | 26% | 5.9× | n/a | n/a |
| Triple Flag Precious Metals TFPM.TO | Canada | $6.54B | +1% | +45% | 63% | 24.7× | n/a | n/a |
| Regis Resources RRL.AX | Australia | $3.49B | -3% | +43% | 43% | 8.5× | -9.5% | +23.5% |