ValueScreener

ValueScreener company report

Triple Flag Precious Metals Corp. (TFPM)

NYSE / Basic Materials / Other Precious Metals

Share price

30.49 USD Market dataClose of Oct 15, 2026

Market capitalisation

6.28B USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2025, filed Mar 27, 2026
Ratios computed
Oct 15, 2026
Filed years
5, FY2021 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

10.0% Computed

From the FY2025 filing

Read quality

Valuation

Price to earnings

26.17x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Dividend yield

0.7% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, by fiscal year

FY2016 Net income: -6.6M USDFY2017 Revenue: 41.0M USDFY2017 Net income: -29.0M USDFY2018 Revenue: 43.0M USDFY2018 Net income: -32.0K USDFY2019 Revenue: 59.1M USDFY2019 Net income: -13.8M USDFY2020 Revenue: 112.6M USDFY2020 Net income: 55.6M USDFY2021 Revenue: 150.4M USDFY2021 Net income: 45.5M USDFY2022 Revenue: 151.9M USDFY2022 Net income: 55.1M USDFY2023 Revenue: 204.0M USDFY2023 Net income: 36.3M USDFY2024 Revenue: 269.0M USDFY2024 Net income: -23.1M USDFY2025 Revenue: 388.7M USDFY2025 Net income: 240.0M USD
Revenue Net income10 fiscal years; a year whose statement names no SEC filing is market data, and the table in Filings says which.
Named tests met
2 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 26.17x at the close of 2026-10-15 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 25.00x and 40.00x.

Today, against the Basic Materials sector (124 companies), 26.17x sits at the 59th percentile; the middle half of that group runs from 15.03x to 34.97x.

Is it good

Return on invested capital was 10.0% in FY2025, in the band labelled "Around the cost of capital" (8.0% to 12.0%), on lines anchored on Damodaran's cost-of-capital data.

Today, against the Basic Materials sector (99 companies), 10.0% sits at the 64th percentile; the middle half of that group runs from 1.5% to 12.9%.

Is it safe

Interest coverage was 63.84x in FY2025, in the band labelled "Comfortable" (6.00x and above), on lines anchored on Damodaran's interest-coverage table, suggesting an interest bill operating profit covers many times over.

Year by year against peers
Whether Triple Flag Precious Metals Corp.'s return on equity stayed above the median of the Basic Materials sector, year by year. (FY2021 to FY2025, 5 fiscal years of Triple Flag Precious Metals Corp. with a comparable figure)
The direction
Which way Triple Flag Precious Metals Corp.'s current ratio has moved, and how steadily. (FY2016 to FY2025, 10 filed years of Triple Flag Precious Metals Corp.)
What could explain it
What in Triple Flag Precious Metals Corp.'s filed statements could explain the movements. (5 readings drawn from the statement lines Triple Flag Precious Metals Corp. filed)
What to check next
What to check next on Triple Flag Precious Metals Corp., and where in its filings. (1 question for Triple Flag Precious Metals Corp.)
In one paragraph
One paragraph on Triple Flag Precious Metals Corp.'s returns, cash, balance sheet and price. (10 of sixteen figures read for Triple Flag Precious Metals Corp.)

These are TFPM’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research TFPMPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 40-F, filed Mar 27, 2026, accession 0001104659-26-036188.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Triple Flag Precious Metals Corp: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax10.0% ComputedFY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Return on equity11.7% ComputedFY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Return on capital employed, pre-tax10.6% ComputedFY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Return on assets11.4% ComputedFY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Gross margin67.6% ComputedFY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Operating margin56.8% ComputedFY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Net margin61.7% ComputedFY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
TFPM 61.7%
FSM 30.4%BVN 34.9%ALM -498.0%AUGO 23.2%EXK -25.5%
-498.0%61.7%
Net margin: TFPM against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Triple Flag Precious Metals Corp: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity0.0007 ComputedFY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Current ratio3.92 ComputedFY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Quick ratio3.80 ComputedFY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Interest coverage63.84x ComputedFY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Altman Z-score55.91 ComputedClose of Oct 15, 2026 · FY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Net debt-69.8M ComputedFY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Total assets 2.11BTotal liabilities 68.3MShareholders' equity 2.05BOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Triple Flag Precious Metals Corp owned and owed at the end of fiscal 2025, from the balance sheet it filed (40-F, filed Mar 27, 2026, 0001104659-26-036188).

Triple Flag Precious Metals Corp: balance sheet position
Total assets2.11B FiledFY2025 40-F, filed Mar 27, 2026
Total liabilities68.3M FiledFY2025 40-F, filed Mar 27, 2026
Shareholders' equity2.05B FiledFY2025 40-F, filed Mar 27, 2026
Cash71.3M FiledFY2025 40-F, filed Mar 27, 2026
Total debt1.5M FiledFY2025 40-F, filed Mar 27, 2026
Net debt-69.8M
Current ratio3.92
Debt to equity0.0007

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Triple Flag Precious Metals Corp: what the market charges, each with its source
FigureValue, source and document
Price to earnings26.17x ComputedClose of Oct 15, 2026 · FY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
P/E on trailing twelve months
Why n/a

A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

n/a ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book3.07x ComputedClose of Oct 15, 2026 · FY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Price to sales16.16x ComputedClose of Oct 15, 2026 · FY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Enterprise value to EBIT28.13x ComputedClose of Oct 15, 2026 · FY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Enterprise value to EBITDA
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Price to earnings over growth
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Diluted earnings per share
Why n/a

The FY2025 filing carries no diluted earnings per share we could read.

n/a FiledFY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Graham number
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188

We publish no fair value or price target of our own. Value TFPM on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Triple Flag Precious Metals Corp today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Triple Flag Precious Metals Corp: valuation
Share price30.49 USD
Market capitalisation6.28B USD
Enterprise value to EBITDAn/a
Graham numbern/a
Diluted earnings per share, FY2020n/a

Price to earnings on trailing twelve months: A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

Companies like Triple Flag Precious Metals Corp

  1. Fortuna Mining Corp. (FSM)Market cap 3.12B USD
  2. Compañía de Minas Buenaventura S.A.A. (BVN)Market cap 7.91B USD
  3. Almonty Industries Inc. Common Shares (ALM)Market cap 2.87B USD
  4. Aura Minerals (AUGO)Market cap 7.16B USD
  5. Endeavour Silver Corp. (EXK)Market cap 2.46B USD

Same industry (Other Precious Metals) and size band (Mid, 2B to 10B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Triple Flag Precious Metals Corp: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Free cash flow
Why n/a

The FY2025 filing carries no free cash flow we could read.

n/a ComputedFY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Free cash flow margin
Why n/a

No free cash flow, and no operating cash flow and capital expenditure pair, is filed for this year.

n/a ComputedFY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Dividend yield0.7% ComputedClose of Oct 15, 2026 · FY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Payout ratio19.1% ComputedFY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
FY2016 Free cash flow: -606.1M USDFY2016 Net income: -6.6M USDFY2017 Free cash flow: -177.7M USDFY2017 Net income: -29.0M USDFY2018 Free cash flow: -232.8M USDFY2018 Net income: -32.0K USDFY2019 Free cash flow: -132.8M USDFY2019 Net income: -13.8M USDFY2020 Free cash flow: -645.3M USDFY2020 Net income: 55.6M USDFY2021 Net income: 45.5M USDFY2022 Net income: 55.1M USDFY2023 Net income: 36.3M USDFY2024 Net income: -23.1M USDFY2025 Net income: 240.0M USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Triple Flag Precious Metals Corp.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
26.17xFY2025Oct 15, 2026
3.07xFY2025Oct 15, 2026
28.13xFY2025Oct 15, 2026
n/aFY2025Oct 15, 2026
n/a The filed cash flow statement reports neither free cash flow nor the operating cash flow and capital spending it is built from.
10.0%FY2025Mar 27, 2026
0.7%FY2025Oct 15, 2026
0.0007FY2025Mar 27, 2026
3.92FY2025Mar 27, 2026
16.16xFY2025Oct 15, 2026
n/aFY2025Oct 15, 2026
n/a The filed income statement reports no earnings per share.
55.91FY2025Oct 15, 2026
-2.24FY2025Mar 27, 2026
7/9FY2025Mar 27, 2026

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 5 filed fiscal years on record, FY2021 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 fiscal years, FY2016 to FY2025. 5 read from the annual reports Triple Flag Precious Metals Corp filed with the SEC, each naming its filing; the rest from statements that name none, which are market data. Amounts in USD, as reported.

Triple Flag Precious Metals Corp: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY2025388.7M220.8M240.0Mn/an/a56.8%11.7%40-F, Mar 27, 20260001104659-26-036188
FY2024269.0M-18.0M-23.1Mn/an/a-6.7%-1.3%40-F, Mar 28, 20250001558370-25-003977
FY2023204.0M40.9M36.3Mn/an/a20.1%2.0%40-F, Mar 28, 20240001104659-24-039990
FY2022151.9M64.1M55.1Mn/an/a42.2%4.2%40-F, Mar 30, 20230001104659-23-039251
FY2021150.4M68.7M45.5Mn/an/a45.7%3.5%40-F, Mar 30, 20230001104659-23-039251
FY2020112.6M34.7M55.6M0.36-645.3M30.8%5.5%Market data, supplied Oct 15, 2026accession n/a
FY201959.1M-31.1M-13.8M-0.09-132.8M-52.6%-2.3%Market data, supplied Oct 15, 2026accession n/a
FY201843.0M-4.2M-32.0K-0.00-232.8M-9.8%-0.0%Market data, supplied Oct 15, 2026accession n/a
FY201741.0M-28.7M-29.0M-0.41-177.7M-70.0%n/mMarket data, supplied Oct 15, 2026accession n/a
FY2016n/a-4.5M-6.6M-0.09-606.1Mn/an/mMarket data, supplied Oct 15, 2026accession n/a
  • Revenue, compound annual growth FY2017 to FY2025: 32.5%
  • Earnings: Earnings was not positive in both 2016 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
  • Earnings per share: Earnings per share was not positive in both 2016 and 2020, so a compound rate across the window is not defined. Both figures are in the table.
  • Free cash flow: Free cash flow was not positive in both 2016 and 2020, so a compound rate across the window is not defined. Both figures are in the table.

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Triple Flag Precious Metals Corp: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.24 ComputedFY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Piotroski F-score7/9 ComputedFY2025 40-F, filed Mar 27, 2026, 0001104659-26-036188
Named tests met2 of 30 Computed
Beta0.56 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 2 met, 22 not met, 6 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
Low beta, profitable; Z-score and coverage (Edward Altman)
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; High returns and growth; Gross margin, turnover (Robert Novy-Marx); High yield, low payout; Dividends and buybacks; Near the 52-week low; High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Not measured
Low PEG, low debt (Peter Lynch); EV/EBITDA and coverage; ROIC at or above WACC; Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); Cash-covered dividend. A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(11)
  • Positive Earnings Streak: The latest filed year has no per-share earnings we can read; the test needs 10.
  • PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • EV/EBITDA: We do not hold this figure for this company, so there is nothing to show.
  • Free Cash Flow Yield: We do not hold this figure for this company, so there is nothing to show.
  • Share Count Change Yoy: We do not hold this figure for this company, so there is nothing to show.
  • ROIC-WACC Spread: We do not hold this figure for this company, so there is nothing to show.
  • Price To Ncav: We do not hold this figure for this company, so there is nothing to show.
  • Price To Graham: We do not hold this figure for this company, so there is nothing to show.
  • Capex To Ocf: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by Javier Sanz Alvarez: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 11 figures could not be read on this company, among them Positive Earnings Streak, PEG Ratio, Eps Growth 5Y. Each blank in the table above names the rest, with its reason. 6 named tests come back incomplete because of them, which is neither met nor missed.
  • We hold 5 filed fiscal years rather than 10, so the run above is shorter than a full decade and is counted as what it is.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Margin Notes

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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