Eldorado Gold Corporation (EGO) 10-Year Financial Performance & Capital Metrics

EGO • • Industrial / General

Basic MaterialsGoldIntermediate Gold ProducersMulti-Mine Operators

AboutEldorado Gold Corporation, together with its subsidiaries, engages in the mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, Greece, and Romania. The company primarily produces gold, as well as silver, lead, and zinc. It holds a 100% interest in the Kisladag and Efemcukuru gold mines located in western Turkey; 100% interest in Lamaque gold mines located in Canada; and Olympias, Stratoni, Skouries, Perama Hill, and Sapes gold mines located in Greece, as well as the 80.5% interest in Certej development projects located in Romania. The company was formerly known as Eldorado Corporation Ltd. and changed its name to Eldorado Gold Corporation in April 1996. Eldorado Gold Corporation was incorporated in 1992 and is headquartered in Vancouver, Canada.Show more

Revenue $1.32B +30.9%
EBITDA $675M +51.1%
Net Income $289M +176.3%
EPS (Diluted) 1.41 +161.1%
Gross Margin 56.49% +111.3%
EBITDA Margin 51% +15.4%
Operating Margin 31.71% +76.0%
Net Margin 21.86% +111.0%
ROE 7.81% +150.7%
ROIC 8.28% +114.3%
Debt/Equity 0.24 +28.6%
Interest Coverage 20.84 +249.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 29.1%
✓Strong Piotroski F-Score: 7/9
✓Momentum leader: RS Rating 91 (top 9%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 16.5%
✓Trading near 52-week high

✗Weaknesses

✗Weak 3Y average ROE of 0.2%
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y2.16%

5Y16.51%

3Y11.92%

TTM40.22%

Profit (Net Income) CAGR

10Y10.91%

5Y29.11%

3Y-

TTM34.14%

EPS CAGR

10Y7.25%

5Y22.55%

3Y-

TTM35.07%

ROCE

10Y Avg-1.18%

5Y Avg4.73%

3Y Avg4.42%

Latest8.27%

Peer Comparison

Multi-Mine Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
HLHecla Mining Company	16.9B	25.22	445.58	29.12%	25.23%	12.61%	0.02%	0.27
CDECoeur Mining, Inc.	13.63B	21.22	141.47	28.35%	24.03%	13.21%		0.54
ARMNAris Mining Corporation	3.7B	18.24	130.29	14.06%	6.35%	3.44%		0.48
NGDNew Gold Inc.	8.24B	10.41	74.36	17.55%	20.16%	20%	1.48%	0.38
AGIAlamos Gold Inc.	16.92B	40.30	58.41	31.62%	33.38%	13.27%	1.39%	0.08
CGAUCenterra Gold Inc.	3.24B	16.06	45.89	10.92%	26.35%	17.46%	3.52%	0.01
EGOEldorado Gold Corporation	8.16B	40.61	28.80	30.94%	22.17%	9.08%	0.3%	0.24
EQXEquinox Gold Corp.	11.43B	14.56	21.41	39.14%	5.73%	2.35%		0.41

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	863.29M	432.73M	391.41M	459.02M	615.92M	1.03B	943.47M	871.46M	1.01B	1.32B
Revenue Growth %	-0.19%	-0.5%	-0.1%	0.17%	0.34%	0.67%	-0.08%	-0.08%	0.16%	0.31%
Cost of Goods Sold+	660.82M	269.56M	265.31M	375.18M	487.96M	663.27M	650.71M	699.77M	740.03M	575.43M
COGS % of Revenue	0.77%	0.62%	0.68%	0.82%	0.79%	0.65%	0.69%	0.8%	0.73%	0.44%
Gross Profit+	202.47M	163.17M	126.09M	83.84M	127.96M	363.42M	292.77M	171.69M	270.06M	747.15M
Gross Margin %	0.23%	0.38%	0.32%	0.18%	0.21%	0.35%	0.31%	0.2%	0.27%	0.56%
Gross Profit Growth %	-0.45%	-0.19%	-0.23%	-0.34%	0.53%	1.84%	-0.19%	-0.41%	0.57%	1.77%
Operating Expenses+	104.25M	90.72M	118.05M	109.74M	-18.87M	102.89M	74.88M	130.01M	88.06M	327.76M
OpEx % of Revenue	0.12%	0.21%	0.3%	0.24%	-0.03%	0.1%	0.08%	0.15%	0.09%	0.25%
Selling, General & Admin	73.74M	54.01M	69.24M	57.35M	42.29M	42.07M	45.78M	53.74M	54.21M	75.48M
SG&A % of Revenue	0.09%	0.12%	0.18%	0.12%	0.07%	0.04%	0.05%	0.06%	0.05%	0.06%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	5.66M	243K	17.57M	16.15M	-61.17M	60.82M	29.1M	76.27M	33.84M	252.28M
Operating Income+	-1.81B	67.01M	-38.54M	-476.77M	146.84M	260.52M	217.89M	41.68M	182.01M	419.39M
Operating Margin %	-2.1%	0.15%	-0.1%	-1.04%	0.24%	0.25%	0.23%	0.05%	0.18%	0.32%
Operating Income Growth %	-8.06%	1.04%	-1.58%	-11.37%	1.31%	0.77%	-0.16%	-0.81%	3.37%	1.3%
EBITDA+	-1.64B	142.77M	38.26M	-374.5M	302.17M	480.75M	419.83M	284.07M	446.33M	674.53M
EBITDA Margin %	-1.89%	0.33%	0.1%	-0.82%	0.49%	0.47%	0.44%	0.33%	0.44%	0.51%
EBITDA Growth %	-4.77%	1.09%	-0.73%	-10.79%	1.81%	0.59%	-0.13%	-0.32%	0.57%	0.51%
D&A (Non-Cash Add-back)	178.98M	75.76M	76.8M	102.27M	155.33M	220.22M	201.94M	242.39M	264.32M	255.14M
EBIT	-1.83B	57.75M	3.99M	-462.53M	156.85M	257.07M	225.18M	47.07M	193.87M	415.35M
Net Interest Income+	-9.57M	-9.76M	-3.2M	12.55M	-44.82M	-49.43M	-64.97M	-26.36M	-6.55M	3.83M
Interest Income	0	0	0	16.15M	3.23M	1.31M	2.83M	8.86M	23.95M	23.95M
Interest Expense	9.57M	9.76M	3.2M	874.6M	48.05M	50.74M	67.71M	35.22M	30.51M	20.12M
Other Income/Expense	2.39M	-18.31M	39.33M	10.64M	-33.38M	-54.2M	-60.43M	-29.82M	-18.64M	16M
Pretax Income+	-1.83B	48.7M	792K	-466.13M	113.46M	206.33M	157.46M	11.86M	163.37M	435.39M
Pretax Margin %	-2.12%	0.11%	0%	-1.02%	0.18%	0.2%	0.17%	0.01%	0.16%	0.33%
Income Tax+	-184.37M	56.2M	19.38M	-86.5M	39.77M	82.36M	138.07M	61.22M	57.58M	134.76M
Effective Tax Rate %	0.84%	-7.07%	-12.54%	0.78%	0.71%	0.6%	-0.86%	-29.84%	0.64%	0.66%
Net Income+	-1.54B	-344.15M	-9.94M	-361.88M	80.59M	124.8M	-136.02M	-353.82M	104.63M	289.12M
Net Margin %	-1.78%	-0.8%	-0.03%	-0.79%	0.13%	0.12%	-0.14%	-0.41%	0.1%	0.22%
Net Income Growth %	-16.02%	0.78%	0.97%	-35.43%	1.22%	0.55%	-2.09%	-1.6%	1.3%	1.76%
Net Income (Continuing)	-1.62B	-7.51M	-18.59M	-379.63M	73.69M	123.97M	19.39M	-49.37M	105.79M	300.64M
Discontinued Operations	-22.4M	0	0	0	0	-6.35M	-155.1M	-377.49M	-4.41M	-11.79M
Minority Interest	169.75M	88.79M	79.94M	63.41M	59.3M	40.87M	69.56M	-3.2M	-6.15M	-8.14M
EPS (Diluted)+	-10.75	-2.40	-0.07	-2.28	0.51	0.76	-0.74	-2.23	0.54	1.41
EPS Growth %	-16.36%	0.78%	0.97%	-33.55%	1.22%	0.49%	-1.97%	-2.01%	1.24%	1.61%
EPS (Basic)	-10.75	-2.40	-0.07	-2.28	0.52	0.77	-0.74	-2.23	0.54	1.42
Diluted Shares Outstanding	143.32M	143.32M	150.53M	158.51M	161.54M	175.23M	180.3M	183.45M	195.33M	205.54M
Basic Shares Outstanding	143.32M	143.32M	150.53M	158.51M	158.86M	171.05M	180.3M	183.45M	193.76M	203.98M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	572.24M	1.09B	737.52M	514.7M	435.86M	754.1M	728.24M	632.46M	930.41M	1.48B
Cash & Short-Term Investments	310.9M	916.79M	490.02M	295.53M	184.84M	511.19M	481.49M	314.87M	544.44M	995.73M
Cash Only	288.19M	883.17M	479.5M	286.31M	177.74M	451.96M	481.33M	279.74M	540.47M	856.8M
Short-Term Investments	22.71M	33.62M	10.52M	9.22M	7.1M	59.23M	163K	35.14M	2.83M	138.93M
Accounts Receivable	48.23M	41.42M	59.6M	65.24M	35.11M	56.76M	50.75M	67.03M	99.95M	109.94M
Days Sales Outstanding	20.39	34.93	55.58	51.88	20.8	20.18	19.63	28.08	36.12	30.34
Inventory	175.63M	120.83M	168.84M	137.88M	163.23M	164.13M	178.16M	198.87M	235.89M	279M
Days Inventory Outstanding	97.01	163.61	232.28	134.14	122.1	90.32	99.94	103.73	116.35	176.97
Other Current Assets	32.35M	240K	310K	296K	40.88M	2.65M	0	27.74M	30.13M	76.74M
Total Non-Current Assets+	4.89B	3.7B	4.35B	4.11B	4.21B	4.13B	4.2B	3.83B	4.06B	4.35B
Property, Plant & Equipment	4.75B	3.64B	4.23B	3.99B	4.09B	4B	4B	3.6B	3.76B	4.12B
Fixed Asset Turnover	0.18x	0.12x	0.09x	0.12x	0.15x	0.26x	0.24x	0.24x	0.27x	0.32x
Goodwill	50.28M	0	92.59M	92.59M	92.59M	92.59M	92.59M	92.59M	92.59M	92.59M
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	2.91M	38K	12.62M	13.45M	3.08M	0	59.85M	61.61M	105.97M	33.24M
Other Non-Current Assets	94.04M	59.88M	32.82M	33.16M	32.27M	43.76M	46.85M	60.49M	88.44M	108.85M
Total Assets+	5.46B	4.8B	5.09B	4.63B	4.65B	4.9B	4.93B	4.46B	4.99B	5.84B
Asset Turnover	0.16x	0.09x	0.08x	0.10x	0.13x	0.21x	0.19x	0.20x	0.20x	0.23x
Asset Growth %	-0.26%	-0.12%	0.06%	-0.09%	0%	0.05%	0.01%	-0.1%	0.12%	0.17%
Total Current Liabilities+	236.82M	90.7M	114.14M	141.7M	221.72M	262.04M	206.65M	210.94M	274.21M	412.17M
Accounts Payable	97.34M	43.71M	60.08M	38.97M	67.11M	65.06M	71.01M	74.91M	93.33M	112.58M
Days Payables Outstanding	53.77	59.19	82.66	37.91	50.2	35.8	39.83	39.07	46.03	71.41
Short-Term Debt	0	0	0	0	66.67M	66.67M	0	0	0	5.29K
Deferred Revenue (Current)	0	0	0	0	1000K	0	0	0	0	1000K
Other Current Liabilities	0	0	3.7M	1.02M	-54.53M	4.7M	4.09M	14.46M	48.05M	40.79M
Current Ratio	2.42x	12.04x	6.46x	3.63x	1.97x	2.88x	3.52x	3.00x	3.39x	3.60x
Quick Ratio	1.67x	10.71x	4.98x	2.66x	1.23x	2.25x	2.66x	2.06x	2.53x	2.92x
Cash Conversion Cycle	63.63	139.36	205.2	148.11	92.71	74.7	79.74	92.74	106.43	135.9
Total Non-Current Liabilities+	1.31B	1.14B	1.25B	1.14B	953.38M	980.49M	1.08B	1.05B	1.2B	1.53B
Long-Term Debt	589.39M	591.59M	593.78M	595.98M	413.06M	434.46M	489.76M	498.09M	641.69M	923M
Capital Lease Obligations	0	0	110K	6.54M	15.14M	14.66M	14.89M	12.16M	12.09M	10.03M
Deferred Tax Liabilities	607.87M	443.5M	549.13M	429.93M	412.72M	414.55M	439.19M	424.73M	399.11M	434.94M
Other Non-Current Liabilities	109.36M	544.16M	109.79M	107.69M	112.46M	117.79M	140.31M	111.13M	148.56M	167M
Total Liabilities	1.54B	1.23B	1.37B	1.28B	1.18B	1.24B	1.29B	1.26B	1.48B	1.95B
Total Debt+	589.39M	591.59M	593.78M	602.51M	504.79M	527.09M	511.89M	515.03M	658.81M	937.72M
Net Debt	301.21M	-291.58M	114.28M	316.2M	327.05M	75.13M	30.56M	235.3M	118.33M	80.93M
Debt / Equity	0.15x	0.17x	0.16x	0.18x	0.15x	0.14x	0.14x	0.16x	0.19x	0.24x
Debt / EBITDA	-	4.14x	15.52x	-	1.67x	1.10x	1.22x	1.81x	1.48x	1.39x
Net Debt / EBITDA	-	-2.04x	2.99x	-	1.08x	0.16x	0.07x	0.83x	0.27x	0.12x
Interest Coverage	-189.56x	6.87x	-12.05x	-0.55x	3.06x	5.13x	3.22x	1.18x	5.97x	20.84x
Total Equity+	3.92B	3.57B	3.72B	3.35B	3.47B	3.66B	3.64B	3.2B	3.51B	3.89B
Equity Growth %	-0.3%	-0.09%	0.04%	-0.1%	0.04%	0.05%	-0%	-0.12%	0.1%	0.11%
Book Value per Share	27.36	24.92	24.74	21.12	21.50	20.87	20.19	17.45	17.98	18.92
Total Shareholders' Equity	3.75B	3.48B	3.64B	3.28B	3.41B	3.62B	3.57B	3.2B	3.52B	3.9B
Common Stock	5.32B	2.82B	3.01B	3.01B	3.05B	3.14B	3.23B	3.24B	3.41B	3.43B
Retained Earnings	-1.58B	-1.93B	-1.95B	-2.31B	-2.23B	-2.13B	-2.24B	-2.59B	-2.49B	-2.19B
Treasury Stock	-10.21M	-7.79M	-11.06M	-10.1M	-8.66M	-11.45M	-10.29M	-20.45M	-19.26M	-12.97M
Accumulated OCI	-20.57M	-7.17M	-21.35M	-24.49M	-28.97M	-30.3M	-20.91M	-42.28M	-4.75M	56.18M
Minority Interest	169.75M	88.79M	79.94M	63.41M	59.3M	40.87M	69.56M	-3.2M	-6.15M	-8.14M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	221.76M	113.66M	27.98M	66.32M	165.83M	425.61M	362.37M	211M	383.31M	595.32M
Operating CF Margin %	0.26%	0.26%	0.07%	0.14%	0.27%	0.41%	0.38%	0.24%	0.38%	0.45%
Operating CF Growth %	-0.22%	-0.49%	-0.75%	1.37%	1.5%	1.57%	-0.15%	-0.42%	0.82%	0.55%
Net Income	-1.65B	-7.51M	-18.59M	-379.63M	73.69M	97.36M	19.39M	-49.37M	105.79M	286.46M
Depreciation & Amortization	178.98M	74.89M	72.13M	105.73M	155.33M	248.79M	201.94M	242.39M	264.32M	247.38M
Stock-Based Compensation	15.88M	10.56M	11.22M	6.99M	10.4M	10.69M	7.95M	10.74M	10.2M	0
Deferred Taxes	-261.23M	9.04M	-19.85M	-118.84M	39.77M	79.13M	138.07M	61.22M	57.58M	19.68M
Other Non-Cash Items	1.9B	-5.61M	18.83M	447M	-129.27M	-45.14M	4.8M	-25.68M	-26.29M	32.09M
Working Capital Changes	29.39M	32.3M	-35.76M	5.06M	15.91M	34.77M	-9.78M	-28.31M	-28.28M	9.7M
Change in Receivables	-6.56M	17.17M	-2.46M	-1.47M	6.68M	-5.41M	14.06M	-3.77M	-29.34M	-11.45M
Change in Inventory	45.91M	-18.26M	-31.44M	20.77M	-16.41M	-3.21M	-15.67M	-20.55M	-33.57M	-27.97M
Change in Payables	73.18M	32.99M	-1.93M	-13.52M	0	44.23M	0	-3.83M	0	49.12M
Cash from Investing+	-392.87M	481.32M	-416.32M	-257.4M	-188.87M	-244.23M	-265.88M	-370.89M	-395.68M	-600.14M
Capital Expenditures	-396.03M	-297.67M	-323.08M	-312.08M	-214.5M	-206.38M	-282.09M	-319.99M	-401.87M	-570.47M
CapEx % of Revenue	0.46%	0.69%	0.83%	0.68%	0.35%	0.2%	0.3%	0.37%	0.4%	0.43%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	21.05M	779.36M	5.58M	55.82M	25.37M	16.45M	-17.47M	4.26M	-27.04M	-29.31M
Cash from Financing+	-39.22M	-70M	-15.32M	-2.11M	-85.45M	92.84M	-67.13M	-41.34M	273.88M	305.56M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-11.26M	0	-10.61M	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-25.57M	0	169.57K	1.33M	-12.79M	88.84M	-53.81M	-34.59M	-56.38M	-4.57M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-174.27M	-184M	-295.1M	-245.76M	-52.53M	219.23M	80.28M	-108.99M	-29.34M	24.85M
FCF Margin %	-0.2%	-0.43%	-0.75%	-0.54%	-0.09%	0.21%	0.09%	-0.13%	-0.03%	0.02%
FCF Growth %	-0.37%	-0.06%	-0.6%	0.17%	0.79%	5.17%	-0.63%	-2.36%	0.73%	1.85%
FCF per Share	-1.22	-1.28	-1.96	-1.55	-0.33	1.25	0.45	-0.59	-0.15	0.12
FCF Conversion (FCF/Net Income)	-0.14x	-0.33x	-2.82x	-0.18x	2.06x	3.41x	-2.66x	-0.60x	3.66x	2.06x
Interest Paid	34.17M	37.11M	36.75M	36.75M	0	0	0	0	0	0
Taxes Paid	81.28M	48.65M	42.29M	36.88M	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-32.44%	-9.19%	-0.27%	-10.24%	2.36%	3.5%	-3.73%	-10.34%	3.12%	7.81%
Return on Invested Capital (ROIC)	-27.47%	1.34%	-0.81%	-9.53%	2.95%	5.19%	4.42%	0.88%	3.86%	8.28%
Gross Margin	23.45%	37.71%	32.22%	18.26%	20.78%	35.4%	31.03%	19.7%	26.74%	56.49%
Net Margin	-178.49%	-79.53%	-2.54%	-78.84%	13.08%	12.16%	-14.42%	-40.6%	10.36%	21.86%
Debt / Equity	0.15x	0.17x	0.16x	0.18x	0.15x	0.14x	0.14x	0.16x	0.19x	0.24x
Interest Coverage	-189.56x	6.87x	-12.05x	-0.55x	3.06x	5.13x	3.22x	1.18x	5.97x	20.84x
FCF Conversion	-0.14x	-0.33x	-2.82x	-0.18x	2.06x	3.41x	-2.66x	-0.60x	3.66x	2.06x
Revenue Growth	-19.16%	-49.87%	-9.55%	17.27%	34.18%	66.69%	-8.1%	-7.63%	15.91%	30.94%

Revenue by Segment

	2017	2018	2019	2020
Gold	-	385.95M	-	-
Gold Growth	-	-	-	-
Silver	-	11.48M	-	-
Silver Growth	-	-	-	-
Iron	-	-	-	-
Iron Growth	-	-	-	-

Revenue by Geography

	2017	2018	2019	2020
GREECE	51.15M	-	140.16M	181.23M
GREECE Growth	-	-	-	29.31%
BRAZIL	2.35M	-	-	-
BRAZIL Growth	-	-	-	-
Other Countries	-	-	-	-
Other Countries Growth	-	-	-	-
ROMANIA	-	-	-	-
ROMANIA Growth	-	-	-	-
TURKEY	337.91M	-	-	-
TURKEY Growth	-	-	-	-

Frequently Asked Questions

Valuation & Price

Eldorado Gold Corporation (EGO) has a price-to-earnings (P/E) ratio of 28.8x. This suggests investors expect higher future growth.

Growth & Financials

Eldorado Gold Corporation (EGO) reported $1.67B in revenue for fiscal year 2024. This represents a 52% increase from $1.10B in 2011.

Eldorado Gold Corporation (EGO) grew revenue by 30.9% over the past year. This is strong growth.

Yes, Eldorado Gold Corporation (EGO) is profitable, generating $370.9M in net income for fiscal year 2024 (21.9% net margin).

Dividend & Returns

Eldorado Gold Corporation (EGO) has a return on equity (ROE) of 7.8%. This is below average, suggesting room for improvement.

Eldorado Gold Corporation (EGO) had negative free cash flow of $109.8M in fiscal year 2024, likely due to heavy capital investments.

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