Company Valuation: Source Rock Royalties Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2022 2023 2024 2025
Market Cap 1 34.12 37.54 39.2 40.11
Change - 10.03% 4.42% 2.33%
Enterprise Value (EV) 1 20.97 36.08 34.57 35.96
Change - 72.07% -4.2% 4.04%
P/E 12.9x 24.4x 27.7x 31.4x
PBR 1.24x 1.4x 1.52x 1.71x
PEG 0x -0.6x -3.14x -3.25x
Capitalization / Revenue 5.26x 5.65x 5.1x 6.65x
EV / Revenue 3.23x 5.43x 4.5x 5.96x
EV / EBITDA 3.93x 7.19x 5.78x 7.8x
EV / EBIT 6.64x 19.7x 17x 21.8x
EV / FCF 13.8x -3.87x 5.16x 10x
FCF Yield 7.24% -25.8% 19.4% 9.96%
Dividend per Share 2 0.06 0.066 0.0765 0.078
Rate of return 7.89% 7.95% 8.9% 8.86%
EPS 2 0.059 0.034 0.031 0.028
Distribution rate 102% 194% 247% 279%
Net sales 1 6.491 6.646 7.69 6.031
EBITDA 1 5.337 5.018 5.976 4.613
EBIT 1 3.156 1.835 2.036 1.651
Net income 1 2.558 1.566 1.495 1.322
Net Debt 1 -13.15 -1.462 -4.636 -4.15
Reference price 2 0.760 0.830 0.860 0.880
Nbr of stocks (in thousands) 44,897 45,232 45,583 45,583
Announcement Date 14/04/23 19/04/24 25/04/25 17/04/26
1CAD in Million2CAD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 34.43M
11.88x2.32x5.14x2.7% 151B
11.97x3.17x6.19x3.7% 98.05B
8.32x2.51x4.39x2.94% 73.76B
9.56x1.43x4.63x1.97% 57.44B
6.96x2.39x3.78x1.83% 56.08B
8.91x2.45x4.85x2.38% 53.73B
11.2x3.33x4.75x2.35% 51.87B
12.1x3.26x4.93x6.19% 42.39B
12.06x3.93x5.79x1.32% 31.19B
Average 10.33x 2.75x 4.94x 2.82% 61.6B
Weighted average by Cap. 10.51x 2.64x 5.01x 2.85%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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