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Employees: 241
Size TRX Gold (TRX.TO) is a Canada Materials company (Precious Metals) with a market value of $321M, the 414th largest of 420 Canada companies the cockpit tracks. Shares closed at C$1.37 on 6 Nov 2026.
Performance Over six months the shares fell 17.5%, against -21.5% for the median peer and +5.2% for the Canada market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 139.7% over the last twelve months (peer median +67.1%); the operating margin is 47.9% (peer median 24.3%).
Valuation It trades at 10.9× forward earnings against a peer median of 7.1× (4th most expensive of 9).
Price implies For today's price to make sense, revenue must grow about -3% a year for seven years (Req g). Recent delivered growth is +61%, so the hurdle is -65 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 22.8 points above its cost of capital (9.3% WACC).
Next results Next results expected around 27 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$159M | C$80.4M | C$56.0M | C$51.6M | C$19.2M |
| Revenue growth | — | +44% | +9% | +169% | — |
| Gross profit | C$92.5M | C$33.1M | C$24.2M | C$24.0M | C$11.7M |
| EBITDA | C$85.5M | C$27.7M | C$18.2M | C$16.4M | C$772,140 |
| Net income | -C$26.6M | C$958,802 | -C$639,535 | C$3.03M | -C$7.91M |
| Free cash flow | C$3.87M | C$4.21M | C$2.80M | C$1.89M | -C$12.4M |
| Capital expenditure | C$36.5M | C$20.0M | C$19.0M | C$24.1M | C$18.6M |
| Total debt | C$7.44M | C$3.85M | C$1.81M | C$136,648 | C$0 |
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 | TRX.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -14.9% | -11.7% | 7th lowest of 21 |
| 6-month return | -17.5% | -21.5% | 9th highest of 21 |
| Distance from 52-week high | -63.5% | -42.7% | lowest of 21 |
| Revenue growth (TTM) | +139.7% | +67.1% | 4th highest of 11 |
| Operating margin | 47.9% | 24.3% | 2nd highest of 11 |
| Forward P/E | 10.9× | 7.1× | 4th most expensive of 9 |
| Growth the price implies (Req g, 7 yrs) | -3.5% | -1.3% | 3rd least demanding of 6 |
| Growth delivered (Del g) | +61.2% | +38.5% | highest of 6 |
| Hurdle (Req g minus delivered) | -64.6 pp | -40.7 pp | least demanding of 6 |
| ROIC minus cost of capital | +22.8 pp | -9.6 pp | 3rd highest of 19 |
| EV / EBITDA | 5.4× | 4.1× | 4th most expensive of 9 |
| Net debt / EBITDA | -0.3× | -0.8× | 4th most indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| TRX Gold TRX.TO | Canada | $321M | -17% | +140% | 48% | 10.9× | -3.5% | +61.2% |
| Idaho Strategic Resources IDR | United States | $330M | -58% | +67% | 45% | 14.5× | 8.8% | +49.5% |
| Mining Americas MAI.TO | Canada | $334M | -39% | +1,140% | 25% | 11.1× | 7.9% | +33.1% |
| Jaguar Mining JAG.TO | Canada | $339M | -17% | +15% | 23% | 2.7× | n/a | n/a |
| Belo Sun Mining BSX.TO | Canada | $341M | -32% | n/a | n/a | n/a | n/a | n/a |
| CNMC Goldmine 5TP.SI | Singapore | $342M | -24% | +54% | 51% | 9.1× | -14.2% | +38.5% |
| AltynGold ALTN.L | United Kingdom | $350M | -19% | +67% | 47% | 4.0× | -1.3% | +41.6% |
| Freegold FVL.TO | Canada | $351M | -27% | n/a | n/a | n/a | n/a | n/a |
| Endomines Finland PAMPALO.HE | Finland | $352M | -25% | +59% | 17% | 13.3× | n/a | n/a |
| Focus Minerals FML.AX | Australia | $355M | -23% | +216% | 42% | n/a | n/a | n/a |
| Aldebaran Resources ALDE.V | Canada | $359M | +3% | n/a | n/a | n/a | n/a | n/a |
| Viridis Mining and Minerals VMM.AX | Australia | $366M | +29% | n/a | n/a | n/a | n/a | n/a |
| Radisson Mining Resources RDS.V | Canada | $371M | -6% | n/a | n/a | n/a | n/a | n/a |
| Sailfish Royalty FISH.V | Canada | $384M | +96% | +88% | 3% | 5.0× | n/a | n/a |
| Aeris Resources AIS.AX | Australia | $385M | -20% | +22% | 22% | 2.8× | -17.5% | +10.2% |
| Deccan Gold Mines DECNGOLD.NS | India | $389M | +46% | +159% | -338% | n/a | n/a | n/a |
| Entree Resources ETG.TO | Canada | $391M | +6% | n/a | n/a | n/a | n/a | n/a |
| Vista Gold VGZ | United States | $401M | +22% | n/a | n/a | n/a | n/a | n/a |
| International Tower Hill Mines ITH.TO | Canada | $405M | -39% | n/a | n/a | n/a | n/a | n/a |
| Amex Gold Mining AMX.V | Canada | $407M | -26% | n/a | n/a | n/a | n/a | n/a |
| Gold X2 Mining AUXX.V | Canada | $409M | -32% | n/a | n/a | n/a | n/a | n/a |