Latest Ratios: P/E Ratio 46.9x · EV/EBITDA 9.9x · ROE 6.2%. (2001–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.9B | $3.1B | $555M | $451M | — | — | — | — | — | — | — |
| Enterprise Value | $4.1B | $3.2B | $823M | $639M | — | — | — | — | — | — | — |
| P/E Ratio → | 46.90 | 39.59 | 25.00 | 39.50 | — | — | — | — | — | — | — |
| P/S Ratio | 4.24 | 3.35 | 1.09 | 1.01 | — | — | — | — | — | — | — |
| P/B Ratio | 2.54 | 2.15 | 0.51 | 0.72 | — | — | — | — | — | — | — |
| P/FCF | 30.47 | 24.05 | — | — | — | — | — | — | — | — | — |
| P/OCF | 10.55 | 8.32 | 5.78 | 4.31 | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.49 | 1.61 | 1.43 | — | — | — | — | — | — | — |
| EV / EBITDA | 9.89 | 7.87 | 5.43 | 4.35 | — | — | — | — | — | — | — |
| EV / EBIT | 11.38 | 13.18 | 6.97 | 7.33 | — | — | — | — | — | — | — |
| EV / FCF | — | 25.09 | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 49.6% | 49.6% | 38.4% | 41.5% | 51.0% | 43.7% | 49.2% | 43.7% | 33.1% | 32.0% | 34.6% |
| Operating Margin | 38.5% | 38.5% | 23.0% | 24.3% | 15.4% | 51.4% | 39.6% | -20.4% | 27.9% | 47.2% | 18.9% |
| Net Profit Margin | 8.4% | 8.4% | 4.8% | 2.6% | -1.2% | 48.7% | -1.2% | -41.9% | -1.3% | 17.1% | 2.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.2% | 6.2% | 2.9% | 2.0% | -1.0% | 55.2% | -3.0% | -72.2% | -1.4% | 18.1% | 2.2% |
| ROA | 3.5% | 3.5% | 1.5% | 0.9% | -0.4% | 22.6% | -0.9% | -32.4% | -0.8% | 8.9% | 1.0% |
| ROIC | 18.3% | 18.3% | 8.1% | 11.3% | 8.3% | 42.6% | 69.6% | -24.0% | 18.6% | 26.0% | 10.0% |
| ROCE | 17.6% | 17.6% | 7.7% | 9.6% | 6.2% | 28.0% | 41.6% | -19.4% | 19.7% | 28.4% | 12.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.36 | 0.36 | 0.48 | 0.61 | 0.88 | 0.66 | 0.74 | 0.78 | 0.30 | 0.44 | 0.47 |
| Debt / EBITDA | 1.28 | 1.28 | 3.44 | 2.61 | 4.59 | 1.39 | 0.81 | 0.64 | 0.70 | 0.82 | 1.82 |
| Net Debt / Equity | — | 0.09 | 0.25 | 0.30 | 0.28 | -0.01 | 0.12 | -0.02 | 0.16 | 0.43 | 0.46 |
| Net Debt / EBITDA | 0.32 | 0.32 | 1.77 | 1.28 | 1.44 | -0.02 | 0.13 | -0.02 | 0.37 | 0.79 | 1.76 |
| Debt / FCF | — | 1.04 | — | — | — | -0.77 | 0.31 | -0.04 | 0.87 | 3.75 | 5.04 |
| Interest Coverage | 6.36 | 6.36 | 4.32 | 3.19 | 3.31 | 13.26 | 1.86 | -5.54 | 3.00 | 3.27 | 0.99 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.76 | 1.76 | 2.61 | 1.99 | 2.10 | 5.94 | 1.84 | 1.58 | 1.07 | 0.48 | 0.70 |
| Quick Ratio | 1.58 | 1.58 | 2.27 | 1.72 | 1.95 | 5.59 | 1.67 | 1.30 | 0.83 | 0.31 | 0.42 |
| Cash Ratio | 1.29 | 1.29 | 1.88 | 1.34 | 1.66 | 5.03 | 0.69 | 1.09 | 0.55 | 0.04 | 0.07 |
| Asset Turnover | — | 0.37 | 0.26 | 0.33 | 0.32 | 0.38 | 0.60 | 0.87 | 0.60 | 0.48 | 0.48 |
| Inventory Turnover | 8.31 | 8.31 | 6.89 | 6.74 | 7.35 | 9.61 | 6.54 | 7.24 | 11.34 | 11.33 | 11.11 |
| Days Sales Outstanding | — | 30.22 | 33.76 | 2.86 | 44.28 | 28.21 | 22.59 | 17.87 | 18.34 | 24.42 | 22.51 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | 6.1% | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.1% | 2.5% | 4.0% | 2.5% | — | — | — | — | — | — | — |
| FCF Yield | 3.3% | 4.2% | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — | — | — |
| Shares Outstanding | — | $191M | $159M | $137M | $108M | $95M | $61M | $81M | $81M | $94M | $96M |
Colombian jurisdictional regulatory exposure
Based on recent financial data, Aris Mining trades at a forward P/E of 8.36, which suggests that the market is pricing in significant earnings growth as the Marmato Lower Mine expansion progresses, despite a trailing P/E of 46.90 that reflects historical earnings volatility and recent capital investments.
The wide divergence between trailing and forward multiples indicates that investors are looking past the current earnings noise to the potential production scale-up. This valuation appears to incorporate a jurisdictional discount compared to peers in Tier-1 regions, implying that the market remains cautious regarding the long-term stability of the Colombian operating environment.
As reported in quarterly filings, the company's ROIC has trended upward from 1.5% in 2024Q2 to 6.0% in 2025Q4, demonstrating that the ongoing integration of artisanal mining volumes and infrastructure investment is beginning to yield more efficient returns on the capital deployed into the Segovia district.
While a 6.0% ROIC remains modest, the consistent upward trajectory suggests that the company is successfully moving past the initial heavy-lift phase of its consolidation strategy. Investors should monitor whether this trend continues as the company shifts toward more capital-intensive, mechanized mining at the Marmato project.
According to recent financial statements, the company's cash conversion cycle has fluctuated significantly, reaching -9 days in 2025Q4, which highlights the unique nature of the artisanal mining partnership model where inventory and payment terms are heavily influenced by the timing of third-party ore deliveries.
The negative CCC suggests that the company is effectively utilizing its processing capacity to turn over inventory rapidly, though the volatility in DSO and DPO warrants further investigation. This efficiency is a double-edged sword, as it relies on the continued participation of local miners who may be sensitive to gold price fluctuations.
Based on the latest balance sheet data, the company maintains a current ratio of 1.76 as of 2025Q4, providing a sufficient liquidity cushion to navigate the capital-intensive development phase of the Marmato Lower Mine while managing the inherent risks of its Colombian operational footprint.
The quick ratio of 1.58 indicates that the company is not overly dependent on inventory liquidation to meet its short-term obligations. This liquidity position appears adequate to withstand moderate operational disruptions, though the company's reliance on external financing for long-term projects remains a factor for investors to monitor.
The most commonly misapplied metric for Aris Mining is the standard All-In Sustaining Cost (AISC), which often fails to account for the unique cost structure of the artisanal mining partnership model, potentially leading to an inaccurate assessment of the company's true margin resilience and operational flexibility.
Because payments to artisanal miners are often indexed to spot gold prices, the company's AISC can appear artificially inflated during periods of high gold prices compared to traditional miners. Analysts should instead focus on the contribution margin per ounce from the Segovia processing facility to better understand the underlying profitability of the business model.
Includes 30+ ratios · 25 years · Updated daily
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Quick answers to the most common questions about buying ARMN stock.
Aris Mining Corporation's current P/E ratio is 46.9x. The historical average is 34.7x. This places it at the 100th percentile of its historical range.
Aris Mining Corporation's current EV/EBITDA is 9.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 5.9x.
Aris Mining Corporation's return on equity (ROE) is 6.2%. The historical average is -5.1%.
Based on historical data, Aris Mining Corporation is trading at a P/E of 46.9x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Aris Mining Corporation has 49.6% gross margin and 38.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Aris Mining Corporation's Debt/EBITDA ratio is 1.3x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.