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Gold and silver royalty/streaming company funding mine development for revenue-linked interests.
Gold and silver royalty/streaming company funding mine development for revenue-linked interests.
Funds mine owners in return for streams, which let it buy a share of production at a low fixed price, and royalties, a percentage of sales. It holds interests in many mines but runs none, so its costs stay small while mine owners carry the operating risk. Gold is the largest metal and silver the next.
In one line: A smaller Franco-Nevada.
Moat: narrow (scale, distribution). No cost-inflation exposure to a diversified basket of precious-metals mines.
Headquarters: Toronto, Canada · Founded: 2016 · Employees: 20
Size Triple Flag Precious Metals (TFPM.TO) is a Canada Materials company (Precious Metals) with a market value of $6.54B, the 98th largest of 420 Canada companies the cockpit tracks. Shares closed at C$44.50 on 6 Nov 2026.
Performance Over six months the shares gained 0.7%, against +1.3% for the median peer and +5.2% for the Canada market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 44.7% over the last twelve months (peer median +62.5%); the operating margin is 63.4% (peer median 45.4%).
Valuation It trades at 24.7× forward earnings against a peer median of 11.1× (2nd most expensive of 21).
Capital Return on invested capital runs 4.2 points above its cost of capital (5.4% WACC).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$696M | C$543M | C$369M | C$275M | C$198M |
| Revenue growth | — | +47% | +34% | +39% | — |
| Gross profit | C$481M | C$367M | C$212M | C$137M | C$113M |
| EBITDA | C$545M | C$433M | C$78.1M | C$179M | C$154M |
| Net income | C$574M | C$335M | -C$31.6M | C$49.0M | C$71.7M |
| Free cash flow | -C$99.3M | C$127M | C$207M | -C$58.1M | C$81.0M |
| Capital expenditure | C$655M | C$305M | C$78.8M | C$258M | C$68.1M |
| Total debt | C$264M | C$2.01M | C$2.43M | C$78.0M | C$2.60M |
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 |
|---|---|---|---|---|---|---|
| Triple Flag Precious Metals TFPM.TO | $6.54B | +1% | +45% | 63% | 24.7× | n/a |
| Franco-Nevada FNV.TO | $49.6B | +16% | +72% | 75% | 31.5× | 17.7% |
| Wheaton Precious Metals WPM.TO | $62.3B | +7% | +89% | 73% | 29.9× | n/a |
| OR Royalties OR.TO | $6.81B | 0% | +68% | 77% | 29.5× | n/a |
| Royal Gold RGLD | $22.5B | +11% | +94% | 63% | 20.9× | 10.9% |
| Senvest Capital SEC.TO | $762M | +18% | -18% | 628% | n/a | n/a |
| Gold Royalty GROY | $723M | -14% | +82% | 23% | 39.4× | 54.3% |
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 | TFPM.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.6% | -0.5% | 7th highest of 21 |
| 6-month return | +0.7% | +1.3% | 11th highest of 21 |
| Distance from 52-week high | -22.3% | -28.5% | 9th highest of 21 |
| Revenue growth (TTM) | +44.7% | +62.5% | 6th lowest of 20 |
| Operating margin | 63.4% | 45.4% | 4th highest of 20 |
| Forward P/E | 24.7× | 11.1× | 2nd most expensive of 21 |
| ROIC minus cost of capital | +4.2 pp | +17.7 pp | 5th lowest of 21 |
| EV / EBITDA | 17.1× | 7.4× | 2nd most expensive of 18 |
| Net debt / EBITDA | 0.2× | -0.4× | 5th most indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Triple Flag Precious Metals TFPM.TO | Canada | $6.54B | +1% | +45% | 63% | 24.7× | n/a | n/a |
| Artemis Gold ARTG.V | Canada | $6.76B | +18% | +148% | 71% | 11.3× | 6.6% | n/a |
| Sibanye Stillwater Limited Sponsored ADR SBSW | United States | $6.30B | -29% | +59% | 26% | 5.9× | n/a | n/a |
| OR Royalties OR.TO | Canada | $6.81B | 0% | +68% | 77% | 29.5× | n/a | n/a |
| OceanaGold OGC.TO | Canada | $6.27B | -5% | +56% | 44% | 7.1× | -5.4% | +29.2% |
| B2Gold BTO.TO | Canada | $7.19B | +13% | +72% | 46% | 6.1× | -7.0% | +12.3% |
| Compania de Minas Buenaventura SAA Sponsored ADR BVN | United States | $7.25B | -21% | +64% | 45% | 6.5× | -14.1% | +20.7% |
| Perseus Mining PRU.AX | Australia | $5.77B | +11% | +13% | 48% | 11.8× | -1.1% | +26.4% |
| Genesis Minerals GMD.AX | Australia | $5.73B | +6% | +89% | 45% | 15.1× | 7.2% | +182.9% |
| First Majestic Silver AG.TO | Canada | $7.52B | -27% | +96% | 44% | 18.1× | 9.2% | +29.2% |
| SSR Mining SSRM | United States | $5.66B | -17% | +39% | 42% | 8.1× | n/a | n/a |
| Zhaojin Mining Industry 1818.HK | Hong Kong | $7.87B | -42% | +49% | 34% | 17.0× | -2.5% | +17.9% |
| Greatland Resources GGP.AX | Australia | $5.11B | -31% | +118% | 52% | 13.4× | -3.1% | n/a |
| JCHX MINING MANAGEMENT 603979.SS | China | $5.09B | -12% | +23% | 28% | 9.9× | -7.7% | +29.3% |
| Torex Resources TXR.TO | Canada | $5.02B | +16% | +76% | 46% | 7.1× | -3.9% | +11.5% |
| DPM Metals DPM.TO | Canada | $8.61B | +18% | +96% | 55% | 10.1× | 5.1% | +8.6% |
| K92 Mining KNT.TO | Canada | $4.86B | +10% | +62% | 68% | 11.0× | 0.7% | +31.3% |
| Montage Gold MAU.TO | Canada | $4.79B | +17% | n/a | n/a | 18.4× | n/a | n/a |
| Ramelius Resources RMS.AX | Australia | $4.78B | +3% | -14% | 42% | 19.0× | 13.7% | +10.3% |
| Hunan Gold 002155.SZ | China | $4.72B | -33% | +1% | 4% | 15.3× | 11.1% | +27.4% |
| China Gold International Resources CGG.TO | Canada | $9.08B | +10% | +53% | 56% | 9.7× | 5.2% | +10.4% |