ELE

MKT CAP:$1B

Elemental Royalty Corporation Common Stock

Market Cap

$1B

Basic Materials·Other Precious Metals·🇨🇦 Canada·NASDAQ

Materials·Other·🇨🇦·NASDAQ

Stock Price

$18.55+$2.76 (+17.48%)

Apr 22, 2026

Company Details

A gold-focused royalty company that acquires and manages royalty interests in precious and base-metal mining operations globally.

CEO

David Morrell Cole

IPO Date

Jan 4, 2000

Website

elementalroyalty.com

Key Metrics TTM

Revenue

$44M

+362.6% YoY

Net Income

$2M

EPS (Diluted)

$0.13

Free Cash Flow

-$35M

Revenue / Share

$0.96

Gross Margin

62.6%

Operating Margin

16.7%

Net Margin

3.9%

FCF Margin

-79.9%

P/S

26.4x

P/E

682.1x

Earnings Reports

Q1 2026

May 15, 2026

PENDING

FY 2025

Dec 30, 2025

$44MEPS $0.06

Q4 2025

Dec 30, 2025

$16MEPS -$0.07

Q3 2025

Sep 29, 2025

$7MEPS $0.06

Q2 2025

Jun 29, 2025

$9MEPS $0.01

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 19	$438.6K	$209.8K	$84.5K
Q1 20	$0	$0	-$244.2K
Q3 20	$1M	$750.8K	$335.3K
Q4 20	$1M	$958.5K	-$21.7K
Q1 21	$1M	$731.2K	-$40.4K
Q2 21	$1M	$776.6K	-$186.3K
Q3 21	$2M	$988.7K	$291.7K
Q4 21	$2M	$1M	-$381.4K
Q1 22	$2M	$1M	-$176.1K
Q2 22	$2M	$817.0K	-$372.8K
Q3 22	$3M	$1M	$482.3K
Q4 22	$3M	$914.4K	-$4M
Q1 25	$12M	$6M	$4M
Q2 25	$9M	$6M	$3M
Q3 25	$7M	$4M	$2M
Q4 25	$16M	$11M	-$1M

Valuation

Quarter	P/S	P/E
Q4 19	203.7x	—
Q1 20	220.2x	—
Q3 20	147.6x	—
Q4 20	117.9x	—
Q1 21	95.6x	—
Q2 21	72.3x	—
Q3 21	63.0x	—
Q4 21	55.2x	—
Q1 22	47.5x	—
Q2 22	42.8x	—
Q3 22	39.4x	—
Q4 22	38.3x	—
Q1 25	19.3x	—
Q2 25	13.9x	—
Q3 25	12.0x	—
Q4 25	9.2x	238.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 19	-$51.9K	-$51.9K
Q1 20	-$368.2K	-$368.2K
Q3 20	-$509.3K	-$509.3K
Q4 20	$3M	-$9M
Q1 21	-$977.9K	$0
Q2 21	-$289.7K	$0
Q3 21	-$687.8K	$0
Q4 21	$535.7K	$0
Q1 22	$538.5K	$0
Q2 22	-$686.2K	$0
Q3 22	-$3M	-$3M
Q4 22	$992.7K	-$10M
Q1 25	$3M	$3M
Q2 25	$15M	$15M
Q3 25	$5M	-$14M
Q4 25	$11M	-$39M

Capital Expenditures

Quarter	CapEx
Q4 19	$0
Q1 20	$0
Q3 20	$0
Q4 20	$12M
Q1 21	$977.9K
Q2 21	$289.7K
Q3 21	$687.8K
Q4 21	$535.7K
Q1 22	$538.5K
Q2 22	$686.2K
Q3 22	$0
Q4 22	$11M
Q1 25	$0
Q2 25	$3
Q3 25	$19M
Q4 25	$50M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 19	+40.9%	-56.0%
Q1 20	-100.0%	-60.0%
Q3 20	+239.0%	+43.7%
Q4 20	+71.1%	+98.7%
Q1 21	+163.8%	+238.2%
Q2 21	—	+479.4%
Q3 21	+64.1%	+95.9%
Q4 21	+54.9%	+77.9%
Q1 22	+92.0%	+100.3%
Q2 22	+68.0%	+72.2%
Q3 22	+39.4%	+34.7%
Q4 22	+11.3%	+153.9%
Q1 25	+422.2%	+221.4%
Q2 25	+347.8%	+168.1%
Q3 25	+157.8%	+133.0%
Q4 25	+532.3%	+153.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 19	$0	0.0%
Q1 20	$0	—
Q3 20	$0	0.0%
Q4 20	$0	0.0%
Q1 21	$0	0.0%
Q2 21	$0	0.0%
Q3 21	$0	0.0%
Q4 21	$0	0.0%
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q4 19	—	—	$125.2K
Q1 20	—	—	$244.2K
Q3 20	—	—	$415.5K
Q4 20	—	—	$980.2K
Q1 21	—	—	$771.6K
Q2 21	—	—	$962.9K
Q3 21	—	—	$697.0K
Q4 21	—	—	$2M
Q1 22	—	—	$1M
Q2 22	—	—	$1M
Q3 22	—	—	$750.3K
Q4 22	—	—	$5M
Q1 25	$2M	—	—
Q2 25	$2M	$94.0K	—
Q3 25	$3M	—	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$17M	$0	$17M
Q2 22	$6M	$0	$6M
Q3 22	$11M	$0	$11M
Q4 22	$17M	$0	$17M
Q1 23	$12M	$0	$12M
Q2 23	$11M	$0	$11M
Q3 23	$9M	$0	$9M
Q4 23	$11M	$0	$11M
Q1 24	$9M	$0	$9M
Q2 24	$6M	$0	$6M
Q3 24	$6M	$0	$6M
Q4 24	$4M	$0	$4M
Q1 25	$5M	$0	$5M
Q2 25	$25M	$0	$25M
Q3 25	$15M	$0	$15M
Q4 25	$53M	$0	$53M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 19	24K	0.0%	0.0%
Q1 20	57K	+139.6%	+139.6%
Q3 20	4M	+6529.9%	+15782.1%
Q4 20	4M	+17.1%	+18492.3%
Q1 21	6M	+31.7%	+24395.1%
Q2 21	7M	+17.6%	+11926.1%
Q3 21	7M	0.0%	+81.4%
Q4 21	7M	0.0%	+55.0%
Q1 22	7M	+0.1%	+17.8%
Q2 22	8M	+13.3%	+13.4%
Q3 22	11M	+44.5%	+63.9%
Q4 22	18M	+59.9%	+162.2%
Q1 25	25M	+35.9%	+255.7%
Q2 25	25M	0.0%	+214.0%
Q3 25	25M	+0.1%	+117.6%
Q4 25	46M	+86.3%	+153.4%

Shares Outstanding