TFPM

MKT CAP:$7B

Triple Flag Precious Metals Corp.

Market Cap

$7B

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

Materials·Other·🇨🇦·NYSE

Stock Price

$33.76+$0.99 (+3.02%)

Apr 24, 2026

Company Details

Triple Flag Precious Metals Corp., a gold-focused streaming and royalty company, engages in acquiring and managing precious metals and other streams and royalties in Australia, Canada, Colombia, Mongolia, Peru, South Africa, and the United ...

CEO

Sheldon Vanderkooy

IPO Date

Aug 30, 2022

Website

www.tripleflagpm.com

Key Metrics TTM

Revenue

$354M

+138.6% YoY

Net Income

$203M

EPS (Diluted)

$1.00

Free Cash Flow

$60M

Revenue / Share

$1.71

Gross Margin

71.7%

Operating Margin

56.0%

Net Margin

57.3%

FCF Margin

17.0%

P/S

19.7x

P/E

34.3x

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Dec 30, 2025

$396M+47.0%EPS $1.20

Q4 2025

Feb 18, 2026

$121MEPS $0.38

Q3 2025

Nov 4, 2025

$93MEPS $0.30

Q1 2025

May 6, 2025

$82M+43.0%EPS $0.23

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 20	$19M	$5M	-$4M
Q2 20	$28M	$9M	$7M
Q3 20	$24M	$13M	$11M
Q4 20	$42M	$23M	$21M
Q1 21	$35M	$19M	$16M
Q2 21	$41M	$23M	$21M
Q3 21	$37M	$20M	$16M
Q4 21	$37M	$21M	$16M
Q1 22	$38M	$22M	$17M
Q2 22	$36M	$21M	$17M
Q1 24	$58M	$33M	$21M
Q1 25	$82M	$50M	$45M
Q3 25	$93M	$83M	$57M
Q4 25	$121M	$88M	$77M

Valuation

Quarter	P/S	P/E
Q1 20	—	—
Q2 20	—	—
Q3 20	—	—
Q4 20	12.0x	24.4x
Q1 21	10.5x	16.8x
Q2 21	9.5x	15.1x
Q3 21	8.7x	15.7x
Q4 21	13.4x	44.1x
Q1 22	15.1x	43.7x
Q2 22	13.5x	44.3x
Q1 24	17.6x	51.6x
Q1 25	18.0x	43.0x
Q3 25	21.7x	43.2x
Q4 25	18.8x	32.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 20	$12M	-$153M
Q2 20	$22M	$12M
Q3 20	$19M	-$535M
Q4 20	$31M	$30M
Q1 21	$29M	-$6M
Q2 21	$33M	$31M
Q3 21	$29M	$29M
Q4 21	$29M	$24M
Q1 22	$26M	$17M
Q2 22	$30M	$25M
Q1 24	$39M	$37M
Q1 25	$66M	$2M
Q3 25	$81M	-$70M
Q4 25	$90M	$90M

Capital Expenditures

Quarter	CapEx
Q1 20	$165M
Q2 20	$10M
Q3 20	$554M
Q4 20	$495.0K
Q1 21	$35M
Q2 21	$2M
Q3 21	$71.0K
Q4 21	$5M
Q1 22	$9M
Q2 22	$5M
Q1 24	$1M
Q1 25	$64M
Q3 25	$151M
Q4 25	$46.5K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	+90.7%	-16.2%
Q2 21	+48.5%	-0.3%
Q3 21	+51.7%	+53.9%
Q4 21	-11.9%	+0.3%
Q1 22	+6.8%	+7.9%
Q2 22	-10.9%	-1.2%
Q1 24	+55.0%	+74.0%
Q1 25	+122.3%	+77.3%
Q3 25	+147.5%	+79.5%
Q4 25	+230.9%	+121.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 20	$29M	156.9%
Q2 20	$7M	24.0%
Q3 20	$5M	20.8%
Q4 20	$0	0.0%
Q1 21	$0	0.0%
Q2 21	$187.0K	0.5%
Q3 21	$562.0K	1.5%
Q4 21	$952.0K	2.6%
Q1 22	$1M	3.5%
Q2 22	$995.0K	2.7%
Q1 24	$686.0K	1.2%
Q1 25	$292.0K	0.4%
Q3 25	$5M	5.5%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 20	—	$2M	—	—
Q2 20	—	$2M	—	—
Q3 20	—	$2M	—	—
Q4 20	—	$2M	—	—
Q1 21	—	$3M	—	—
Q2 21	—	$2M	—	—
Q3 21	—	$4M	—	—
Q4 21	—	$4M	—	—
Q1 22	—	$4M	—	—
Q2 22	$1M	$3M	—	—
Q1 24	$834.0K	$5M	—	—
Q1 25	$262.0K	$5M	—	—
Q3 25	—	$8M	$1M	—
Q4 25	—	—	—	$11M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$58M	$9M	$67M
Q2 22	$74M	$2M	$77M
Q3 22	$82M	$5M	$87M
Q4 22	$71M	$10M	$81M
Q1 23	$22M	$20M	$42M
Q2 23	$16M	$0	$16M
Q3 23	$14M	$14M	$28M
Q4 23	$17M	$6M	$24M
Q1 24	$29M	$7M	$37M
Q2 24	$21M	$0	$21M
Q3 24	$24M	$0	$24M
Q4 24	$36M	$3M	$39M
Q1 25	$19M	$4M	$22M
Q2 25	$82M	$0	$82M
Q3 25	$9M	$16M	$24M
Q4 25	$29M	$93M	$122M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 20	155M	—	—
Q2 20	155M	0.0%	—
Q3 20	155M	0.0%	—
Q4 20	155M	0.0%	—
Q1 21	155M	0.0%	0.0%
Q2 21	144M	-7.5%	-7.5%
Q3 21	156M	+8.8%	+0.7%
Q4 21	152M	-2.7%	-2.0%
Q1 22	156M	+2.6%	+0.6%
Q2 22	156M	+0.0%	+8.7%
Q1 24	201M	+28.9%	+28.8%
Q1 25	201M	+0.1%	+32.4%
Q3 25	207M	+2.6%	+32.4%
Q4 25	207M	+0.2%	+32.8%

Shares Outstanding