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Caledonia Mining Corp vs OR Royalties

Caledonia Mining Corp and OR Royalties are similar in size: $268m and $277m of revenue in their latest fiscal years. Caledonia Mining Corp grew faster (46.2% against 45.1%). OR Royalties kept more of each dollar of sales as profit: a net margin of 74.3% against 20.6%. OR Royalties carries less debt relative to equity (0.0% against 12.1%).

Latest fiscal yearCaledonia Mining CorpCMCL, 2025OR RoyaltiesOR, 2025
Revenue $268m $277m
Revenue growth 46.2% 45.1%
Net income $55.2m $206m
Operating margin 41.0% 70.9%
Net margin 20.6% 74.3%
Return on equity 23.4% 15.7%
Free cash flow $43.8m —
Cash $35.7m —
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 $6.02bn
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

Each figure is from the company's latest annual report and links to the page it comes from. Fiscal years can end on different dates. Market value and the value verdict use the delayed price shown on the stock pages. Not a recommendation.

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Figures from each company's latest annual report filed with the SEC (10-K or 20-F), as reported, with the fiscal year shown. Not investment advice. How we read filings: methodology.