Elemental Royalty Corp is a US-listed company in the gold industry. Its financial year ends in December.
Stock price today
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Third-party market data · may be delayed
Model estimate per share
~$9.4
Valuation models combined (3)
Base case. Range ~$3.1–$20. Weighted average of 3 models (growth cash-flow model, forward price-to-earnings vs peers, revenue-to-maturity model), the growth cash-flow model counting double.
Price vs value
No Buy/Hold/Sell rating is issued: limited reported history: available models are shown without a Buy/Hold/Sell rating.
Elemental Royalty Corp valuation: adjust assumptions and compare models →
Who’s trading
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
- Funds65 adding, 27 cuttingOf 11 active managers that changed their stake, 8 added; quarter to June 30, 2026Fund buyers and sellers
The Fundamentalytics view
Elemental Royalty Corp's trailing-twelve-month revenue grew 167.4% year on year, with a free-cash-flow margin of 70.6%.
Current signal Balance sheet growing far ahead of sales: Total assets grew 344% year over year while revenue grew 167% — the balance sheet is expanding 177 points faster than the business it supports.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Highlights
How we pick theseStrengths
- Fast growth. Revenue grew 167.4% over the last 12 months.
- Strong cash generation. 70.6% of revenue turned into free cash flow.
- Net cash. Cash exceeds long-term debt by $0.1bn.
Things to watch
- Share dilution. Diluted shares rose 54.7% in a year.
- Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 11.9% over 90 days.
Latest results
- Earnings per share
- $0.05 against an average estimate of $0.10: missed by 46.2%
- Next report
- November 12, 2026; average EPS estimate $0.07
Price chart
- 1 day+0.7%
- 1 week-7.3%
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Third-party market data · may be delayed
At a glance
Profitability
- Revenue (TTM)
- $43.6M
- Operating margin
- 12.1%
- Net margin
- 4.1%
- EPS (TTM, diluted)
- $0.06
Growth
- Revenue growth
- +167.4%
- Share count change
- +54.7%
Cash
- Free cash flow (TTM)
- $30.8M
- FCF margin
- 70.6%
- Stock pay % of revenue
- 5.6%
News & updates
Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for ELE from the sources we follow. See filings →
Valuation models
We value Elemental Royalty Corp as an operating company, with every model that fits that kind of business. Cost of equity 10.8%: the 10-year Treasury yield (4.9%) plus a beta of 1.31 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. | ~$7.2 ~$4.6–$9.3 | Primary model, counts double |
| Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. | ~$3.1 ~$2.8–$4.5 | Included |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | ~$2.1 ~$1.3–$3.4 | Left out: out of range vs price (0.14x) |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: return on equity below long-run growth |
| Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. | — | Does not apply: earnings are positive: price-to-earnings is the better measure |
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | ~$20 ~$17–$24 | Included |
| Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$9.4 ~$3.1–$20 | 3 models |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Elemental Royalty Corp with Gold in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.
Forecasts and guidance
Next results: November 12, 2026, after the close. Analysts expect revenue of $22m and EPS of $0.07 (range $0.06 to $0.10) for the quarter.
Analysts' consensus
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | $0.22 | +81% | $90m | +106% |
| Next | $0.41 | +90% | $112m | +25% |
Next year's EPS estimate has moved −11.9% in 90 days, across 5 analysts.
How the EPS forecast has moved
The consensus EPS forecast for the current fiscal year is −27.7% on 90 days ago. In the last 30 days, 3 analysts raised Elemental Royalty Corp's forecast and 2 cut it.
Average of analysts' published estimates (third-party data).
View chart data
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | $0.30 | $0.47 |
| 60 days ago | $0.24 | $0.43 |
| 30 days ago | $0.25 | $0.50 |
| 7 days ago | $0.22 | $0.46 |
| Now | $0.22 | $0.41 |
Earnings against estimates
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | $0.10 | $0.05 | −46.2% |
| Mar 2026 | $0.11 | $0.03 | −74.6% |
| Dec 2025 | $0.10 | $0.05 | −52.5% |
Adjusted EPS as companies report it, against the average analyst estimate.
Positioning
- Short interest
- — of tradable shares
- Days to cover
- 5.54 at average volume
- Short interest, 1 month
- −1% to October 15, 2026
- Held by institutions
- 22% of shares
- Held by insiders
- 38.5% of shares
- Employees
- 39 full time
Share-price performance
Market data may be delayedPrice behaviour
- 52-week range
- Not enough history
- From 52-week high
- —
- vs 50-day average
- —
- vs 200-day average
- —
- Volatility (1 year)
- —
- Beta vs S&P 500
- —
Fundamentals
Where the money goes
Each dollar Elemental Royalty took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.
| Revenue | $43.6M | |
|---|---|---|
| Other income | $999,000 | 2.3% of revenue |
| Cost of revenue | $16.3M | 37.4% of revenue |
| Gross profit | $27.3M | 62.6% of revenue |
| Selling, general and admin | $1.2M | 2.7% of revenue |
| Other operating costs | $20.9M | 47.8% of revenue |
| Operating income | $5.3M | 12.1% of revenue |
| Income tax | $4.5M | 10.3% of revenue |
| Net income | $1.8M | 4.1% of revenue |
Financial statements
| Fiscal year | 2024 Dec 2024 | 2025 Dec 2025 |
|---|---|---|
| Income | ||
| Revenue | 16 | 44 |
| Gross profit | 9 | 27 |
| Operating income | 2 | 5 |
| Net income | −0 | 2 |
| Growth (year on year) | ||
| Revenue | — | +167.4% |
| Operating income | — | +130.2% |
| Margins | ||
| Gross margin | 55.8% | 62.6% |
| Operating margin | 14.1% | 12.1% |
| Net margin | −2.2% | 4.1% |
| Free-cash-flow margin | 29.5% | 70.6% |
| Cash flow | ||
| Cash from operations | 5 | 31 |
| Capital spending | 0 | 0 |
| Free cash flow | 5 | 31 |
| Stock-based pay | 1 | 2 |
| Free cash flow after stock pay | 3 | 28 |
| Balance sheet | ||
| Cash | 4 | 53 |
| Total debt | 3 | 0 |
| Net debt (negative = net cash) | −2 | −53 |
| Diluted shares | 20m | 32m |
Financial health
- Short-term assets cover short-term liabilities $94m of assets due within a year against $14m of liabilities due within a year.
- Short-term assets cover long-term liabilities $94m short-term assets against $113m of longer-dated liabilities.
- More cash than debt $53m of cash against $0 of debt.
- Debt below 40% of shareholders' equity Debt is 0% of equity.
- Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
- A year's operating cash flow covers at least 20% of debt No debt to cover.
- Operating profit covers interest at least five times over Operating income of $5m against $500,000 of interest.
Dividends, buybacks and capital spending
- Diluted share count
- +54.7%
- year over year
Competitors: side by side with peers
| Last 12 months unless stated | ELE | IDR | ITRG | CMCL | OR | DRD | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $44m | $51m | $244m | $268m | $277m | $661m | $1.8bn |
| Revenue growth, last 12 months | 167.4% | 66.8% | 703.7% | 46.2% | 45.1% | 52.3% | 55.1% |
| Revenue growth, 3-year average | — | 63.0% | — | 27.0% | — | — | 35.2% |
| Revenue growth, latest quarter | — | 13.2% | — | 13.8% | — | — | 14.5% |
| Gross margin | 62.6% | 64.1% | 38.8% | 51.2% | 83.8% | 53.5% | 51.3% |
| Operating margin | 12.1% | 45.1% | 27.6% | 41.0% | 70.9% | 51.4% | 41.1% |
| Operating margin, 3-year average | — | 32.5% | — | 22.0% | — | 26.3% | 26.0% |
| Net margin | 4.1% | 44.0% | −0.9% | 20.6% | 74.3% | 38.1% | 29.6% |
| Cash from operations / revenue | 70.6% | 52.7% | 29.6% | 28.5% | 88.5% | 50.9% | 45.8% |
| Free-cash-flow margin | 70.6% | 33.0% | 10.3% | 16.4% | 88.1% | 19.2% | 27.6% |
| Free-cash-flow margin, 3-year average | — | 28.2% | — | 6.5% | — | 13.8% | 13.8% |
| Stock pay / revenue | 5.6% | 1.6% | 0.8% | — | 3.0% | 0.4% | 0.9% |
| Change in share count | 54.7% | 14.4% | 75.5% | 0.4% | 0.8% | 0.4% | 3.0% |
Who owns it
Funds buying and selling- Reported value
- $235M
- Institutions reporting
- 90
- Shares held vs prior quarter
- ▲ 41.3%
- Positions opened / closed
- 43 / 16
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Blackrock, Inc. | $35.3M | 2.0M | 15.0% | New |
| Sprott Inc. | $33.6M | 1.9M | 14.3% | ▲ 2.3% |
| Euro Pacific Asset Management, LLC | $19.4M | 1.1M | 8.3% | ▲ 13.9% |
| Tran Capital Management, L.P. | $18.3M | 1.0M | 7.8% | ▲ 4.6% |
| Extract Advisors LLC | $16.3M | 934K | 6.9% | ▼ 14.8% |
| Medici Capital LLC | $15.3M | 879K | 6.5% | 0.0% |
| Condire Management, LP | $11.2M | 642K | 4.8% | ▼ 4.9% |
| Geode Capital Management, LLC | $9.9M | 565K | 4.2% | ▲ 875.5% |
| Raymond James Financial Inc | $7.8M | 448K | 3.3% | ▲ 23.0% |
| UBS Group AG | $6M | 342K | 2.5% | ▲ 762.8% |
| Arbiter Partners Capital Management LLC | $5.9M | 337K | 2.5% | ▲ 100.0% |
| State Street Corp | $5.8M | 330K | 2.5% | New |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Elemental Royalty Corp's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.
Insider trading activity
Full insider history and chartFrom insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Earnings dates and SEC filings
Data status
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
Elemental Royalty Corp in brief
- What does Elemental Royalty Corp do?
- Elemental Royalty Corp is a US-listed company in the gold industry. Its financial year ends in December.
- What is Elemental Royalty Corp's stock ticker?
- Elemental Royalty Corp trades under the ticker ELE on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
- What is Elemental Royalty Corp's revenue, and how fast is it growing?
- Over its most recent trailing twelve months, Elemental Royalty Corp reported revenue of $43.6M, 167.4% higher than a year earlier, according to its SEC filings.
- What is Elemental Royalty Corp's free cash flow?
- Elemental Royalty Corp's free-cash-flow margin is 70.6% of revenue over the trailing twelve months.
- Who are Elemental Royalty Corp's largest institutional shareholders?
- By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Sprott Inc. and Euro Pacific Asset Management, LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
- How much debt does Elemental Royalty Corp have?
- Elemental Royalty Corp's debt-to-equity ratio is 0.0%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
- Who are Elemental Royalty Corp's competitors?
- In our Gold peer group, the companies closest to Elemental Royalty Corp are Idaho Strategic Resources, Inc., Integra Resources Corp., Caledonia Mining Corp plc, OR Royalties Inc. and Drdgold LTD. The side-by-side comparison below sets their revenue, margins and growth against Elemental Royalty Corp's.
- When is Elemental Royalty Corp's next earnings date?
- Around November 12, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Elemental Royalty Corp announces its own schedule.
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