Latest Ratios: P/E Ratio -4.6x · EV/EBITDA N/A · ROE -50.8%. (2017–2025 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.2B | $981M | $174M | $482M | $677M | $585M | — | — | — | — |
| Enterprise Value | $1.3B | $1.1B | $347M | $660M | $745M | $539M | — | — | — | — |
| P/E Ratio → | -4.64 | — | — | — | — | 6.63 | — | — | — | — |
| P/S Ratio | 9.36 | 11.00 | 3.46 | 8.78 | 18.32 | — | — | — | — | — |
| P/B Ratio | 2.75 | 2.83 | 0.51 | 1.40 | 2.03 | 1.44 | — | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 12.25 | 6.90 | 12.03 | 20.15 | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -10.9% | -10.9% | -31.2% | -9.4% | 9.7% | — | — | 47.4% | 65.8% | 73.6% |
| Operating Margin | -98.7% | -98.7% | -177.0% | -183.9% | -167.4% | — | — | -30.5% | 28.9% | 15.0% |
| Net Profit Margin | -195.9% | -195.9% | -241.4% | -163.3% | -214.3% | — | — | -77.4% | 11.3% | -0.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -50.8% | -50.8% | -35.4% | -26.4% | -21.4% | 45.2% | — | — | — | — |
| ROA | -25.7% | -25.7% | -18.6% | -13.8% | -12.2% | 22.1% | -1.8% | -5.4% | 2.1% | -0.2% |
| ROIC | -13.6% | -13.6% | -12.9% | -16.4% | -12.2% | -9.0% | -13.5% | -5.5% | 10.8% | 17.7% |
| ROCE | -15.3% | -15.3% | -15.2% | -17.6% | -10.5% | -7.8% | -22.4% | -4.7% | 11.5% | 19.2% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.50 | 0.50 | 0.56 | 0.56 | 0.35 | 0.10 | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | 7.96 | 4.17 |
| Net Debt / Equity | — | 0.32 | 0.51 | 0.52 | 0.20 | -0.11 | — | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | 7.18 | 3.86 |
| Debt / FCF | — | — | — | — | — | — | — | 1.97 | 2.06 | — |
| Interest Coverage | -5.14 | -5.14 | -2.80 | -2.25 | -4.31 | -20.65 | -1.30 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.73 | 0.73 | 0.57 | 0.61 | 0.90 | 4.06 | 0.23 | 0.60 | 1.00 | 1.02 |
| Quick Ratio | 0.51 | 0.51 | 0.36 | 0.44 | 0.71 | 3.19 | 0.20 | 0.56 | 1.00 | 0.98 |
| Cash Ratio | 0.46 | 0.46 | 0.26 | 0.25 | 0.56 | 2.93 | 0.10 | 0.27 | 0.10 | 0.05 |
| Asset Turnover | — | 0.13 | 0.08 | 0.08 | 0.06 | — | — | 0.06 | 0.20 | 0.52 |
| Inventory Turnover | 3.38 | 3.38 | 4.31 | 5.27 | 2.02 | 0.01 | 0.07 | 1.30 | 48.23 | 5.87 |
| Days Sales Outstanding | — | 7.83 | 23.73 | 28.69 | 6.15 | — | — | 959.82 | 725.67 | 365.00 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | 15.1% | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Shares Outstanding | — | $672M | $359M | $274M | $240M | $239M | $182M | $169M | $169M | $169M |
Includes 30+ ratios · 9 years · Updated daily
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Quick answers to the most common questions about buying IAUX stock.
i-80 Gold Corp.'s current P/E ratio is -4.6x. The historical average is 6.6x.
i-80 Gold Corp.'s return on equity (ROE) is -50.8%. The historical average is -17.8%.
Based on historical data, i-80 Gold Corp. is trading at a P/E of -4.6x. Compare with industry peers and growth rates for a complete picture.
i-80 Gold Corp. has -10.9% gross margin and -98.7% operating margin.
Key Metrics
Top Statement Risk
Persistent cash burn and dilution
Metrics are mathematically derived from official filings.
Margins Swing Without Establishing a Floor
According to reported quarterly figures, IAUX's gross margin ranged from -19.0% in 2026Q1 to 35.4% in 2026Q2 before settling at 15.1% in 2026Q3, while operating margin stayed between -41.6% and -168.3%, suggesting unit economics remain unproven relative to overhead.
The swings in gross margin appear driven more by pour timing and recovery rates than by a stable cost structure, which makes any single quarter a weak basis for normalized earnings power. Operating margins remain deeply negative against a peer set where McEwen Mining reports a positive net margin of 17.4%, indicating the gap is structural rather than a temporary cyclical trough. Investors should monitor whether gross margin holds above zero for several consecutive quarters before attributing the 2026Q2 result to a durable improvement.
Debt Build Outpaces Equity Base
As reported in the quarterly balance sheets, IAUX's debt-to-equity rose from 0.38 in 2025Q2 to 2.02 in 2026Q3, with interest coverage at -4.34, meaning operating losses do not currently cover interest obligations.
Leverage has increased sharply while retained earnings deepened to negative territory, indicating the balance sheet is being re-levered to fund development rather than supported by earnings. Negative interest coverage means debt service is being met from financing or cash reserves rather than operating income, which elevates refinancing and covenant sensitivity. This warrants further investigation into the maturity profile and terms of the debt, which are not included in the supplied data.
Current Ratio Masks Financing Dependence
Based on reported figures for IAUX, the 6.13 current ratio in 2026Q3 is concentrated in cash that rose from $63.2M to $513.5M within two quarters, a pattern that points to financing-driven rather than operationally generated liquidity.
A current ratio of 6.13 appears strong in isolation, but it is heavily dependent on a cash balance that followed a sharp external capital inflow and fell as low as $13.5M in 2025Q1. Under a stress scenario where gold prices fall or ramp-up slips, the liquidity cushion would depend on how quickly the company burns through cash, which the reported negative free cash flow of -$55.9M in 2026Q3 suggests is substantial. Investors should monitor quarterly cash burn against the current cash balance to gauge runway.
Working Capital Swings Dominate Cash Conversion
According to reported quarterly figures, IAUX's cash conversion cycle moved between -70 and +4 days over the sample, with DIO ranging from 9 to 175 days, indicating inventory and stockpile timing dominate working capital behavior.
The large variation in days inventory outstanding suggests gold-in-circuit and stockpiled ore accounting plays a meaningful role in reported working capital, which limits comparability across quarters. A negative cash conversion cycle in several periods is driven by payables stretching well beyond inventory days, which may reflect timing of development vendor payments rather than sustainable supplier financing. Analysts should treat the CCC as a timing indicator instead of evidence of operating efficiency.
Premium Sales Multiple on Unprofitable Base
Based on reported figures, IAUX trades at 13.73 times sales and 2.75 times book with a negative trailing P/E of -5.26, a combination that implies the market is capitalizing projected production rather than current earnings.
A price-to-sales multiple near 14 is elevated for a company with negative operating margins, and it is difficult to reconcile without assuming a substantial future ramp in volume and margin. Compared with McEwen Mining's P/E of 26.24 and EV/EBITDA of 55.85, IAUX's valuation rests on a development thesis that has not yet been demonstrated in reported earnings. Investors should weigh whether the implied growth is achievable given the persistent cash burn and dilution risk visible in the balance sheet data.
Ratio Overstates Liquidity Strength
Based on the supplied quarterly data, the headline current ratio of 6.13 may overstate financial flexibility, since it rests on a cash balance that rose sharply from $63.2M to $513.5M within two quarters rather than on durable operating cash generation.
The most commonly misapplied ratio for a development-stage gold miner is the current ratio, because it treats cash raised through financing as equivalent to cash earned from production. A more informative approach is to compare cash balance against trailing quarterly burn, which for IAUX reached -$55.9M of free cash flow in 2026Q3. This suggests investors should evaluate runway in quarters rather than relying on the headline liquidity ratio, which may not reflect how quickly that cash is consumed.