Company Valuation: Black Rock Mining Limited

Data adjusted to current consolidation scope
Fiscal Period: June 2021 2022 2023 2024 2025 2026
Market Cap 1 118.7 141.7 118.3 72.58 33.88 23.62
Change - 19.36% -16.54% -38.64% -53.32% -30.26%
Enterprise Value (EV) 1 107.4 116.1 107.3 63.96 32.2 19.1
Change - 8.12% -7.65% -40.37% -49.66% -40.69%
P/E -34.8x -19.6x -12x -6.52x -3.4x -2.97x
PBR 3.59x 2.58x 2.05x 1.2x 0.59x 0.37x
PEG - -0.2x -0.5x 2.03x 0.1x 0.1x
Capitalization / Revenue - - - 17,619,926,196x 2,717,183,189x 512,294,345x
EV / Revenue - - - - - -
EV / EBITDA -34.4x -20.1x -11x -6.07x -3.39x -2.68x
EV / EBIT -34.3x -17.9x -10.9x -6x -3.35x -2.59x
EV / FCF -46.7x -11.8x -4.88x -6.49x -3.49x -2.6x
FCF Yield -2.14% -8.44% -20.5% -15.4% -28.7% -38.5%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -0.004028 -0.007387 -0.009196 -0.008901 -0.00677 -0.0037
Distribution rate - - - - - -
Net sales - - - 0.004119 0.0125 0.0461
EBITDA 1 -3.12 -5.768 -9.746 -10.53 -9.489 -7.117
EBIT 1 -3.135 -6.504 -9.839 -10.66 -9.621 -7.368
Net income 1 -2.85 -6.077 -9.053 -10.08 -8.929 -7.252
Net Debt 1 -11.3 -25.56 -11.01 -8.62 -1.682 -4.53
Reference price 2 0.1400 0.1450 0.1100 0.0580 0.0230 0.0110
Nbr of stocks (in thousands) 847,972 977,256 1,075,184 1,251,319 1,472,950 2,147,724
Announcement Date 28/09/21 30/09/22 28/09/23 22/09/24 26/09/25 30/09/26
1AUD in Million2AUD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 16.42M
26.53x10.25x15.7x1.95% 174B
24.23x3.6x8.61x0.83% 103B
11.21x1.3x5.36x3.17% 51.44B
26.84x5.27x7.98x1.72% 49.59B
14.43x4.29x7.03x5.54% 24.15B
74.34x4.22x12.76x0.03% 22.86B
19.41x3.55x12.12x0.98% 21.78B
6.84x0.28x7.74x6.21% 18.67B
Average 25.48x 4.10x 9.66x 2.55% 51.72B
Weighted average by Cap. 24.96x 5.94x 11.08x 2.03%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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