Financials OR Royalties Inc.

Equities

Market Closed - Toronto S.E. Other stock markets 02:30:00 14/02/2026 am IST			5-day change	1st Jan Change
58.17 ^CAD	+6.11%		+6.38%	+19.64%

03/02	RBC Capital Adjusts Price Target on OR Royalties to $45 From $42, Maintains Outperform Rating	MT
02/02	Falco Resources Extends Certain Deadlines Under the OR Royalties Silver Stream Deal	MT

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales	170.2	175	160.6	183	191.2	277.4	402.1	425.1
Change	-	2.84%	-8.22%	13.96%	4.45%	45.1%	44.96%	5.72%
EBITDA ¹	91.52	102.1	130.7	142.7	161.5	240.4	369.7	387.2
Change	-	11.59%	27.92%	9.25%	13.12%	48.9%	53.77%	4.73%
EBIT ¹	54.16	61.72	-	100.1	127.9	203	314.5	333.5
Change	-	13.95%	-	-	27.76%	58.74%	54.93%	6.04%
Interest Paid ¹	-20.81	-19.13	-16.47	-14	-7.966	-2.784	-3.3	-7.8
Earnings before Tax (EBT) ¹	21.62	-34.02	-	-25.96	30.14	246.9	330.7	354.7
Change	-	-257.36%	-	-	216.1%	719.14%	33.92%	7.28%
Net income ¹	13.44	-18.33	-87.56	-35.77	16.27	198.2	247.6	268
Change	-	-236.35%	-377.73%	59.14%	145.47%	1,118.55%	24.91%	8.22%
Announcement Date	24/02/21	24/02/22	23/02/23	20/02/24	19/02/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales	51.42	55.38	45.52	40.13	39.43	38.93	40.01	39.88	45.65	44.58	44.99	44.99	48.22	44.27	47	41.12	56.74	54.92	60.36	-	90.46
Change	-	7.71%	-17.81%	-11.84%	-1.75%	-1.27%	2.77%	-0.32%	14.47%	-2.35%	0.93%	-0.01%	7.19%	-8.19%	6.16%	-12.5%	37.98%	-3.22%	9.92%	-	-
EBITDA ¹	26.4	29.49	28.93	27.34	19.58	26.15	25.12	32.05	37.38	35.79	35.42	32.63	38.35	37.72	-9.667	33.94	48.6	46.39	48.67	62.68	81.66
Change	-	11.71%	-1.9%	-5.49%	-28.37%	33.55%	-3.95%	27.6%	16.63%	-4.25%	-1.02%	-7.88%	17.51%	-1.65%	-125.63%	451.08%	43.21%	-4.56%	4.92%	28.77%	0%
EBIT	15.37	19.34	19.55	16.98	7.94	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	25.79%	1.07%	-13.14%	-53.23%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	24/02/21	11/05/21	09/08/21	09/11/21	24/02/22	12/05/22	09/08/22	09/11/22	23/02/23	10/05/23	09/08/23	08/11/23	20/02/24	08/05/24	06/08/24	06/11/24	19/02/25	07/05/25	05/08/25	06/11/25	-

¹USD in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	75.2	229	42.2	90.8	38.7	-143	-341	-620
Change	-	204.52%	-81.57%	115.17%	-57.38%	-469.18%	-138.46%	-81.82%
Announcement Date	24/02/21	24/02/22	23/02/23	20/02/24	19/02/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	110	146.7	91.21	215.1	73.45	36.97	66.3	1.25
Change	-	33.33%	-37.81%	135.84%	-65.85%	-49.67%	79.35%	-98.11%
Free Cash Flow (FCF) ¹	-23.99	-64.1	-10.47	138.2	86.25	219.2	289.7	333.1
Change	-	-167.24%	83.66%	1,419.59%	-37.59%	154.11%	32.2%	14.98%
Announcement Date	24/02/21	24/02/22	23/02/23	20/02/24	19/02/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	53.79%	58.37%	81.36%	77.99%	84.46%	-	91.94%	91.08%
EBIT Margin (%)	31.83%	35.27%	-	54.7%	66.9%	-	78.22%	78.45%
EBT Margin (%)	12.71%	-19.44%	-	-14.19%	15.77%	-	82.23%	83.44%
Net margin (%)	7.9%	-10.47%	-54.52%	-19.55%	8.51%	-	61.58%	63.03%
FCF margin (%)	-14.1%	-36.63%	-6.52%	75.52%	45.12%	-	72.06%	78.36%
FCF / Net Income (%)	-178.44%	349.74%	11.96%	-386.33%	530.19%	110.57%	117.01%	124.32%
Profitability
ROA	2.01%	-0.99%	-	-	1.14%	13.3%	14.8%	14%
ROE	2.71%	3.52%	6.6%	5.91%	5.83%	12.57%	16.15%	14.6%
Financial Health
Leverage (Debt/EBITDA)	0.82x	2.25x	0.32x	0.64x	0.24x	-	-	-
Debt / Free cash flow	-3.13x	-3.58x	-4.02x	0.66x	0.45x	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	64.64%	83.81%	56.8%	117.54%	38.42%	-	16.49%	0.29%
CAPEX / EBITDA (%)	120.18%	143.59%	69.81%	150.71%	45.49%	15.38%	17.94%	0.32%
CAPEX / FCF (%)	-458.56%	-228.79%	-870.91%	155.65%	85.16%	16.87%	22.88%	0.38%
Items per share
Cash flow per share ¹	0.5214	0.6085	0.73	0.7536	0.8666	1.236	1.83	1.951
Change	-	16.71%	19.97%	3.24%	14.99%	42.61%	48.06%	6.65%
Dividend per Share ¹	0.1593	0.1634	0.1616	0.1736	0.1793	0.1873	0.2215	-
Change	-	2.58%	-1.14%	7.49%	3.24%	4.5%	18.24%	-
Book Value Per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
EPS ¹	0.0796	-	-	-0.1924	0.09	1.04	1.322	1.425
Change	-	-	-	-	146.78%	1,055.56%	27.07%	7.81%
Nbr of stocks (in thousands)	1,66,893	1,66,458	1,83,921	1,85,166	1,86,626	1,87,986	1,87,986	1,87,986
Announcement Date	24/02/21	24/02/22	23/02/23	20/02/24	19/02/25	-	-	-