Caledonia Mining Corp vs Gold Royalty
Caledonia Mining Corp is the larger business, with $268m of revenue in fiscal 2025 against $15.6m for Gold Royalty (17.1 times as much). Gold Royalty grew faster (54.5% against 46.2%). Caledonia Mining Corp kept more of each dollar of sales as profit: a net margin of 20.6% against -26.5%. Gold Royalty carries less debt relative to equity (0.0% against 12.1%).
| Latest fiscal year | Caledonia Mining CorpCMCL, 2025 | Gold RoyaltyGROY, 2025 |
|---|---|---|
| Revenue | $268m | $15.6m |
| Revenue growth | 46.2% | 54.5% |
| Net income | $55.2m | −$4.1m |
| Operating margin | 41.0% | 9.9% |
| Net margin | 20.6% | -26.5% |
| Return on equity | 23.4% | -0.7% |
| Free cash flow | $43.8m | $6.2m |
| Cash | $35.7m | $12.4m |
| Total debt | $31.4m | $0 |
| Debt to equity | 12.1% | 0.0% |
| Dividend per share | — | — |
| Dividend yield | 5.2% | — |
| Share buybacks | — | — |
| Employees | — | — |
| Market value | $368m | $461m |
| Price vs our value range | Below our value range | — |
| Moat score | 67 (Moderate) | — |
| Insider trades, 12 months | 3 buys, 1 sales | 0 buys, 0 sales |