Latest Ratios: P/E Ratio 50.3x · EV/EBITDA 38.1x · ROE 7.8%. (2018–2025 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 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $347M | $272M | $118M | $97M | $99M | $105M | $69M | — | — |
| Enterprise Value | $345M | $270M | $109M | $88M | $95M | $99M | $66M | — | — |
| P/E Ratio → | 50.30 | 47.40 | — | — | 302.60 | — | — | — | — |
| P/S Ratio | 20.85 | 16.34 | 10.66 | 7.89 | 11.67 | 28.62 | 546.58 | — | — |
| P/B Ratio | 2.69 | 2.54 | 2.73 | 2.16 | 2.80 | 5.05 | 4.96 | — | — |
| P/FCF | — | — | 65.96 | — | — | — | — | — | — |
| P/OCF | 32.28 | 25.30 | 21.57 | 18.42 | 48.48 | 136.04 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 16.26 | 9.87 | 7.13 | 11.17 | 27.24 | 521.60 | — | — |
| EV / EBITDA | 38.06 | 29.80 | 24.71 | 20.46 | 38.39 | — | — | — | — |
| EV / EBIT | 147.14 | 35.54 | 99.62 | 28.63 | 211.59 | — | — | — | — |
| EV / FCF | — | — | 61.05 | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 60.7% | 60.7% | 98.5% | 81.1% | 96.4% | 68.3% | 83.5% | — | — |
| Operating Margin | 14.1% | 14.1% | 9.9% | 14.0% | 5.3% | -90.7% | -5855.0% | — | — |
| Net Profit Margin | 35.4% | 35.4% | -14.9% | -0.8% | 3.9% | -113.2% | -8105.6% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.8% | 7.8% | -3.7% | -0.3% | 1.2% | -23.9% | -119.4% | -65.4% | -21.7% |
| ROA | 6.7% | 6.7% | -3.2% | -0.2% | 0.9% | -19.4% | -102.1% | -45.5% | -20.6% |
| ROIC | 2.5% | 2.5% | 2.3% | 3.9% | 1.4% | -18.8% | -72.6% | -21.2% | — |
| ROCE | 2.8% | 2.8% | 2.2% | 3.9% | 1.4% | -16.4% | -80.2% | -58.7% | -19.1% |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.06 | 0.06 | — | — | — | — | — | 0.41 | 6.30 |
| Debt / EBITDA | 0.74 | 0.74 | — | — | — | — | — | — | 3.79 |
| Net Debt / Equity | — | -0.01 | -0.20 | -0.21 | -0.12 | -0.24 | -0.23 | 0.40 | 5.76 |
| Net Debt / EBITDA | -0.15 | -0.15 | -1.98 | -2.17 | -1.69 | — | — | — | 3.47 |
| Debt / FCF | — | — | -4.90 | — | — | — | — | — | — |
| Interest Coverage | 14.65 | 14.65 | 3.47 | — | — | — | -78.18 | -10.42 | — |
Net cash position: cash ($8M) exceeds total debt ($7M)
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 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.73 | 2.73 | 4.19 | 4.57 | 2.28 | 4.22 | 15.73 | 0.67 | 19.60 |
| Quick Ratio | 2.73 | 2.73 | 4.19 | 4.57 | 2.28 | 4.22 | 15.73 | 0.67 | 50.39 |
| Cash Ratio | 1.94 | 1.94 | 3.02 | 3.22 | 1.40 | 3.74 | 13.93 | 0.65 | 98.16 |
| Asset Turnover | — | 0.13 | 0.22 | 0.23 | 0.20 | 0.13 | 0.01 | — | — |
| Inventory Turnover | — | — | — | — | 7481.76 | — | — | — | — |
| Days Sales Outstanding | — | 62.74 | 96.40 | 104.00 | 85.80 | 54.52 | 269.70 | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.9% | 1.0% | 1.9% | 2.1% | 0.4% | — | — | — | — |
| Payout Ratio | 46.0% | 46.0% | — | — | 135.9% | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.0% | 2.1% | — | — | 0.3% | — | — | — | — |
| FCF Yield | — | — | 1.5% | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.5% | 1.7% | 0.2% | — | — |
| Total Shareholder Yield | 0.9% | 1.0% | 1.9% | 2.1% | 0.9% | 1.7% | 0.2% | — | — |
| Shares Outstanding | — | $57M | $50M | $47M | $43M | $38M | $29M | $2M | $158212 |
Includes 30+ ratios · 8 years · Updated daily
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Quick answers to the most common questions about buying VOXR stock.
Vox Royalty Corp.'s current P/E ratio is 50.3x. The historical average is 47.4x. This places it at the 100th percentile of its historical range.
Vox Royalty Corp.'s current EV/EBITDA is 38.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 28.3x.
Vox Royalty Corp.'s return on equity (ROE) is 7.8%. The historical average is -28.2%.
Based on historical data, Vox Royalty Corp. is trading at a P/E of 50.3x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Vox Royalty Corp.'s current dividend yield is 0.94% with a payout ratio of 46.0%.
Vox Royalty Corp. has 60.7% gross margin and 14.1% operating margin. Operating margin between 10-20% is typical for established companies.
Vox Royalty Corp.'s Debt/EBITDA ratio is 0.7x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Liquidity and acquisition funding
Premium Valuation Reflects Growth Potential
Based on current market data, Vox Royalty trades at a P/S of 16.40, which suggests investors are pricing in significant future asset conversion rather than current earnings, as evidenced by the forward P/E of 17.47 compared to the trailing P/E of 49.20.
The wide gap between trailing and forward earnings multiples indicates that the market anticipates a rapid scaling of royalty revenue as development-stage assets reach production. While this valuation appears rich relative to stagnant peers, it may be justified if the company successfully converts its proprietary database into consistent, high-margin cash flows.
ROIC Volatility Masks Underlying Compounding
As reported in recent financial statements, Vox Royalty's ROIC has fluctuated from -0.3% to 4.8% over the last ten quarters, indicating that the company is still in the early stages of compounding returns on its invested capital as it scales its royalty portfolio.
The inconsistent ROIC trend reflects the lumpy nature of royalty acquisitions and the time lag between capital deployment and production commencement. Investors should monitor whether the 4.8% ROIC achieved in 2026Q1 represents a sustainable inflection point or a temporary spike driven by non-recurring royalty payments.
Asset Turnover Reflects Royalty Model
According to quarterly filings, Vox Royalty maintains a low asset turnover ratio, consistently hovering around 0.05 to 0.12, which is characteristic of a royalty firm that holds long-duration, non-operating assets rather than high-velocity inventory or manufacturing equipment.
This low turnover is not a sign of operational inefficiency but rather a structural feature of the royalty business model where revenue is derived from third-party production. The modest improvement in turnover to 0.12 in 2026Q1 suggests that the company is beginning to extract more value from its existing asset base.
Disciplined Capital Structure Enhances Stability
Based on the company's balance sheet data, Vox Royalty has maintained a disciplined capital structure, with the debt-to-equity ratio falling to zero in 2026Q1, which provides significant financial flexibility compared to more leveraged peers in the junior mining sector.
The absence of long-term debt minimizes interest coverage risk and allows the company to navigate commodity price volatility without the pressure of mandatory debt service. This conservative approach appears to be a strategic choice to preserve equity value while the company builds its royalty pipeline.
Net Income Misrepresents Earning Power
The P/E ratio is frequently misapplied to Vox Royalty, as reported net income is heavily distorted by non-cash depletion and amortization charges that do not reflect the company's actual cash-generating capacity from its royalty interests.
Investors should prioritize Cash Flow from Operations and FCF margins over net income, as the latter is subject to subjective reserve estimates and accounting adjustments. Relying on P/E may lead to an inaccurate assessment of the company's ability to fund future growth and sustain dividend payments.