Company Valuation: Source Rock Royalties Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2022 2023 2024 2025
Market Cap 1 34.12 37.54 39.2 40.11
Change - 10.03% 4.42% 2.33%
Enterprise Value (EV) 1 20.97 36.08 34.57 35.96
Change - 72.07% -4.2% 4.04%
P/E 12.9x 24.4x 27.7x 31.4x
PBR 1.24x 1.4x 1.52x 1.71x
PEG 0x -0.6x -3.14x -3.25x
Capitalization / Revenue 5.26x 5.65x 5.1x 6.65x
EV / Revenue 3.23x 5.43x 4.5x 5.96x
EV / EBITDA 3.93x 7.19x 5.78x 7.8x
EV / EBIT 6.64x 19.7x 17x 21.8x
EV / FCF 13.8x -3.87x 5.16x 10x
FCF Yield 7.24% -25.8% 19.4% 9.96%
Dividend per Share 2 0.06 0.066 0.0765 0.078
Rate of return 7.89% 7.95% 8.9% 8.86%
EPS 2 0.059 0.034 0.031 0.028
Distribution rate 102% 194% 247% 279%
Net sales 1 6.491 6.646 7.69 6.031
EBITDA 1 5.337 5.018 5.976 4.613
EBIT 1 3.156 1.835 2.036 1.651
Net income 1 2.558 1.566 1.495 1.322
Net Debt 1 -13.15 -1.462 -4.636 -4.15
Reference price 2 0.760 0.830 0.860 0.880
Nbr of stocks (in thousands) 44,897 45,232 45,583 45,583
Announcement Date 14/04/23 19/04/24 25/04/25 17/04/26
1CAD in Million2CAD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 36.29M
12.7x2.56x5.58x2.32% 175B
12.63x3.46x6.54x3.26% 112B
8.75x2.79x4.72x2.6% 82.81B
17x3.9x10.36x5.6% 66.62B
6.85x2.49x3.89x1.66% 62.68B
8.21x1.43x4.47x1.87% 61.02B
16.09x2.09x10.29x4.62% 58.7B
9.15x2.54x4.95x2.23% 57.35B
10.55x3.39x4.7x2.16% 56.27B
Average 11.32x 2.74x 6.17x 2.93% 73.22B
Weighted average by Cap. 11.59x 2.77x 6.09x 2.87%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Source Rock Royalties Ltd.

Historical PBR trend

Valuation ratios - PBR - Source Rock Royalties Ltd.

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Source Rock Royalties Ltd.

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Source Rock Royalties Ltd.

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