Financials Capstone Copper Corp.

Equities

CS

CA14071L1085

Specialty Mining & Metals

End-of-day quote Toronto S.E. Other stock markets 2025-06-13			5-day change	1st Jan Change
7.570 ^CAD	-2.57%		-2.57%	-14.85%

06-11	Teck Resources Keeps Outperform Rating, C$82 Price Target at RBC Chile Production Tracker	MT
05-26	Shares of Copper Miners Jump, Tracking Rise in Copper Price	MT

Projected Income Statement: Capstone Copper Corp.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	453.8	794.8	1,296	1,346	1,599	2,229	2,623	2,971
Change	-	75.14%	63.07%	3.82%	18.85%	39.41%	17.64%	13.27%
EBITDA ¹	139.2	432.2	352.8	260.3	496.1	886.4	1,251	1,609
Change	-	210.49%	-18.37%	-26.22%	90.59%	78.67%	41.19%	28.58%
EBIT ¹	37.31	355.2	140.2	32.93	162.9	418.9	788.2	1,099
Change	-	852.13%	-60.53%	-76.52%	394.69%	157.17%	88.15%	39.43%
Interest Paid ¹	-14.76	-4.872	-5.621	-14.63	-66	-142.2	-127.2	-117.2
Earnings before Tax (EBT) ¹	-	-	-	-91	133.4	289.7	608.1	912
Change	-	-	-	-	246.59%	117.14%	109.95%	49.96%
Net income ¹	12.6	226.8	122.2	-101.7	82.9	139	356.8	504.7
Change	-	1,700.23%	-46.13%	-183.2%	181.54%	67.71%	156.65%	41.45%
Announcement Date	2/24/21	2/15/22	2/15/23	2/22/24	2/19/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1
Net sales ¹	104.7	130.5	148.1	204.1	209.4	165.4	215.9	268.1	356.6	308.7	362.1	335.6	333.9	322.2	353.7	339.9	393.1	419.4	446.9	533.3	559.8	546.6	575.7	621	522.2	626.3	661.5	650.9
Change	-	24.64%	13.45%	37.79%	2.62%	-21.01%	30.53%	24.18%	33.01%	-13.43%	17.3%	-7.32%	-0.51%	-3.5%	9.79%	-3.91%	15.65%	6.69%	6.56%	19.33%	4.96%	-2.35%	5.31%	7.87%	-15.92%	19.93%	5.62%	-1.6%
EBITDA ¹	12.9	51.6	63.5	118.7	128	72.3	113.3	123.4	114.7	34.1	80.5	65.3	43.4	62.8	88.3	80.1	123.1	120.8	171.9	179.9	230.1	227.5	259.4	281.1	279.5	307.9	317.9	382.2
Change	-	300%	23.06%	86.93%	7.83%	-43.52%	56.71%	8.91%	-7.05%	-70.27%	136.07%	-18.88%	-33.54%	44.7%	40.61%	-9.29%	53.68%	-1.87%	42.3%	4.65%	27.92%	-1.12%	13.99%	8.39%	-0.56%	10.14%	3.23%	20.25%
EBIT ¹	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	47.1	71.73	95.52	77.98	86.01	164.3	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	52.29%	33.17%	-18.36%	10.29%	90.98%	-	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-4.018	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	51.3	13.94	47.99	40.39	58.57	93.29	88.43	128.9	175.1	172.7
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-72.82%	244.23%	-15.84%	45%	59.27%	-5.21%	45.81%	35.8%	-1.38%
Net income ¹	-	-	-	-	-	-	-	-	75.1	34.1	-20.9	-20	-	-	-	-	-	12.5	45.9	-6.8	56.97	51.54	65.53	50.7	67.05	78.31	100.3	88.13
Change	-	-	-	-	-	-	-	-	-	-54.59%	-161.29%	4.31%	-	-	-	-	-	-	267.2%	-114.81%	937.73%	-9.53%	27.14%	-22.62%	32.25%	16.78%	28.08%	-12.13%
Announcement Date	7/30/20	10/28/20	2/24/21	4/27/21	7/27/21	10/26/21	2/15/22	5/12/22	8/8/22	10/31/22	2/15/23	5/3/23	8/2/23	11/3/23	2/22/24	5/2/24	8/1/24	10/31/24	2/19/25	5/1/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Capstone Copper Corp.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	132	-252	487	872	936	824	502	412
Change	-	-290.91%	293.25%	79.06%	7.34%	-12.01%	-39.08%	-17.93%
Announcement Date	2/24/21	2/15/22	2/15/23	2/22/24	2/19/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Capstone Copper Corp.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	97.52	133.4	559.8	616.7	448	585.7	685.5	1,406
Change	-	36.81%	319.53%	10.18%	-27.36%	30.74%	17.04%	105.14%
Free Cash Flow (FCF) ¹	49.65	419.9	-472.3	-499.9	-49.4	168.4	358.2	90.1
Change	-	745.83%	-212.48%	-5.84%	90.12%	440.95%	112.66%	-74.84%
Announcement Date	2/24/21	2/15/22	2/15/23	2/22/24	2/19/25	-	-	-

¹CAD in Million

Estimates

Forecast Financial Ratios: Capstone Copper Corp.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	30.67%	54.38%	27.22%	19.35%	31.02%	39.76%	47.72%	54.17%
EBIT Margin (%)	8.22%	44.7%	10.82%	2.45%	10.19%	18.79%	30.05%	36.99%
EBT Margin (%)	-	-	-	-6.76%	8.34%	12.99%	23.19%	30.7%
Net margin (%)	2.78%	28.54%	9.43%	-7.56%	5.18%	6.24%	13.61%	16.99%
FCF margin (%)	10.94%	52.84%	-36.44%	-37.15%	-3.09%	7.55%	13.66%	3.03%
FCF / Net Income (%)	394.02%	185.13%	-386.53%	491.69%	-59.59%	121.14%	100.38%	17.85%
Profitability
ROA	-	-	-	-	1.3%	3.38%	5.41%	6.24%
ROE	1.64%	25.27%	6.49%	-3.76%	2.9%	3.43%	10.4%	14.2%
Financial Health
Leverage (Debt/EBITDA)	0.94x	-	1.38x	3.35x	1.89x	0.93x	0.4x	0.26x
Debt / Free cash flow	2.65x	-	-1.03x	-1.74x	-18.96x	4.89x	1.4x	4.57x
Capital Intensity
CAPEX / Current Assets (%)	21.49%	16.79%	43.19%	45.84%	28.01%	26.27%	26.14%	47.34%
CAPEX / EBITDA (%)	70.06%	30.87%	158.66%	236.93%	90.3%	66.08%	54.78%	87.4%
CAPEX / FCF (%)	196.44%	31.77%	-118.51%	-123.37%	-906.88%	347.75%	191.39%	1,560.84%
Items per share
Cash flow per share ¹	0.4154	1.705	0.4808	0.3999	0.7553	1.403	1.775	2.201
Change	-	310.45%	-71.8%	-16.83%	88.88%	85.76%	26.5%	23.98%
Dividend per Share ¹	-	-	-	-	-	-	-	0.0733
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	-	-	-	-	-	5.856	6.961	8.205
Change	-	-	-	-	-	-	18.87%	17.87%
EPS ¹	0.0377	0.7017	0.2539	-0.2025	0.1565	0.2566	0.6426	0.8673
Change	-	1,762.76%	-63.82%	-179.75%	177.27%	64.02%	150.39%	34.96%
Nbr of stocks (in thousands)	403,225	413,361	690,500	691,784	761,894	762,190	762,190	762,190
Announcement Date	2/24/21	2/15/22	2/15/23	2/22/24	2/19/25	-	-	-