Company Valuation: New Gold Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 1,494 1,017 670.5 998.2 1,973 6,906
Change - -31.94% -34.06% 48.88% 97.69% 249.97%
Enterprise Value (EV) 1 1,781 987.2 838.9 1,207 2,263 6,972
Change - -44.56% -15.02% 43.86% 87.5% 208.11%
P/E -18.3x 7.23x -9.83x -15.4x 18.3x 8.08x
PBR 1.89x 1.06x 0.7x 1.27x 1.88x 3.61x
PEG - -0x 0x 2.7x -0x 0x
Capitalization / Revenue 2.32x 1.36x 1.11x 1.27x 2.13x 4.68x
EV / Revenue 2.77x 1.32x 1.39x 1.53x 2.45x 4.72x
EV / EBITDA 7.08x 2.97x 4.78x 4.17x 5.28x 4.95x
EV / EBIT 27.2x 7.44x -46.3x 21.1x 12.7x 6.06x
EV / FCF -15.4x 12.3x -8x 19.4x 29.4x 63.7x
FCF Yield -6.48% 8.14% -12.5% 5.17% 3.4% 1.57%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -0.12 0.2065 -0.1 -0.0943 0.1364 1.08
Distribution rate - - - - - -
Net sales 1 643.4 745.5 604.4 786.5 924.5 1,476
EBITDA 1 251.5 332.5 175.5 289.6 428.5 1,410
EBIT 1 65.5 132.6 -18.1 57.1 177.6 1,151
Net income 1 -79.3 140.6 -66.8 -64.5 102.6 857.9
Net Debt 1 286.6 -29.7 168.4 208.6 289.4 65.6
Reference price 2 2.197 1.493 0.983 1.454 2.495 8.723
Nbr of stocks (in thousands) 679,869 680,857 682,276 686,584 790,900 791,727
Announcement Date 2/18/21 2/23/22 2/16/23 2/13/24 2/19/25 3/20/26
1USD in Million2USD
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
13.37x4.96x7.79x0.8% 138B
17.23x6.78x9.47x0.75% 109B
13.74x3.49x5.07x1.77% 78.37B
32.13x19.33x22.61x0.5% 71.6B
15.56x4.99x6.87x3.35% 61.88B
11.35x3.91x5.88x0.45% 38.8B
18.89x3.96x8.27x2.07% 24.46B
22.09x11.49x14.13x0.74% 21.95B
14.79x4.21x8.1x - 21.56B
Average 17.68x 7.01x 9.80x 1.3% 62.92B
Weighted average by Cap. 17.27x 7.04x 9.66x 1.21%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA