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ECOR.TO (ECOR) Fair Value & Analysis

Basic Materials · CA · Market cap C$614M (≈ $443M) · ISIN GB0006449366

What is ECOR.TO really worth?

ET ECOR.TO ECOR · TO
PriceC$3.24
Fair ValueC$1.93
Upside−40.4%
Quality70/100

A solid business, but trading 68% above our fair value of C$1.93.

As of Aug 24, 2026, the fair value of ECOR.TO is C$1.93 per share against a price of C$3.24, so the fair value sits 40% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

✓Highly profitable · 39.7% net margin
✓Low debt · generates free cash flow
✓Wide moat 65/100

Risks

!Weak Growth (revenue 5y +5.5 %/yr)
!Trails peers (3/9)
!Evidence only low, so the estimate is less certain

For context

·0.62% dividend yield
Evidence: Low Range C$1.16 – C$2.14

Fair value as of: Aug 24, 2026

From 26 valuation models · updated 13 days ago

Fair value updated Aug 24, 2026, revised from C$1.40 to C$1.93 (+37.9%) since Aug 13, 2026. Share price +15.3% over the past month.

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

  • A high-quality business (quality 70/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (C$2.14). The favourable scenario is already priced in.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (C$1.16 to C$2.14) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

C$3.35 C$0.7361 Fair Value C$1.93 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 24, 2026.

How to read this chart

60‑month range C$0.7361 – C$3.35 · fair‑value band C$1.16 – C$2.14 · the C$3.24 price screens above the C$1.93 fair value. Dashed = 300-day average. As of Aug 24, 2026.

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Analysis

ECOR.TO (ECOR) currently trades at C$3.24, while our model-based Fair Value estimate is C$1.93, implying the stock looks roughly 67.9% overvalued today. The Quality Score stands at 70/100 (solid quality), in the Basic Materials sector. Bull case: the Growth Earnings group reads highest at a median of C$1.67 per share, and 0 of the 25 models we run sit above the C$3.24 price. Bear case: the Dividend Discount group reads lowest at C$0.3600, and 25 of the 25 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, ECOR.TO generated revenue of C$55.9M at a net margin of 39.7%. Revenue grew 294.7% year over year. It earns a return on equity of 4.9%. Net debt stands at C$88.7M. Fundamentals as of Aug 24, 2026

Our scenario range runs from C$1.16 (bear case) to C$2.14 (bull case); at C$3.24, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 256% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −37% fair-value upside, at −40%, ECOR screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly C$0.0750 per share, which is 3.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF C$0.8000 C$1.65 C$3.01 76
Growth DCF C$0.7800 C$1.51 C$2.58 76
Residual Income C$1.34 C$1.32 C$1.16 76
All 26 models by family
DCF Models
FCF DCF C$0.8000 C$1.65 C$3.01 76
Owner Earnings C$1.29 C$2.50 C$4.43 73
5Y Revenue Exit C$0.2200 C$0.4800 C$0.7900 70
5Y EBITDA Exit C$0.7800 C$1.66 C$2.78 72
5Y P/E Exit C$0.7500 C$1.60 C$2.58 68
10Y Revenue Exit C$0.4200 C$0.7400 C$1.17 65
10Y EBITDA Exit C$0.7700 C$1.54 C$2.73 65
10Y P/E Exit C$0.7600 C$1.50 C$2.58 61
Earnings-Based
Graham-Dodd C$0.6200 C$3.16 C$4.37 64
Lynch FV C$0.8600 C$1.23 C$1.60 61
PEG = 1.0 C$0.8600 C$1.23 C$1.60 57
EPV C$0.4000 C$0.5000 C$0.5900 74
Dividend Discount
Gordon GGM C$0.2200 C$0.4000 C$0.5500 68
DDM Multi-Stage C$0.2200 C$0.3600 C$0.4200 67
Multiples
P/E Multiple C$1.16 C$1.54 C$1.93 63
P/S Multiple C$0.2600 C$0.3400 C$0.4300 58
P/B Multiple C$1.16 C$1.54 C$1.93 55
EV/EBIT C$0.7400 C$1.11 C$1.47 65
EV/EBITDA C$0.8700 C$1.27 C$1.67 67
EV/Revenue — — C$0.1000 50
Asset-Based
NCAV (Graham) C$0.9300 C$1.25 C$1.87 54
Growth DCF
Growth DCF C$0.7800 C$1.51 C$2.58 76
Rev-Margin DCF C$0.2200 C$0.4900 C$0.8400 69
Economic Profit
Residual Income C$1.34 C$1.32 C$1.16 76
ROIC Compounder C$0.4000 C$0.5000 C$0.5900 72
Growth Earnings
Growth-Adj P/E C$1.17 C$1.67 C$2.17 67

Widest divergence: Growth Earnings (C$1.67) versus Dividend Discount (C$0.3600). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/E ratio 24.9
P/S ratio 9.89 P/E × margin
EPS (TTM) C$0.1300 price ÷ EPS = P/E 24.9
Dividend yield 0.6% payout 15.4%
Net margin 39.7% FY2025
Return on equity 4.9% TTM
More key figures
Profitability
Return on assets (EBIT) 9.2% avg 5y
Operating margin 53.9% TTM
Growth
Revenue (TTM) C$55.9M TTM
Revenue growth (YoY) +295% 3y avg −26.2%
EPS growth (YoY) +25.7%
Balance sheet & cash flow
Free cash flow C$26.0M FY2025
Net debt C$88.7M FY2025 · ≈ 3.4 yrs of FCF

Figures from reported company fundamentals · as of Aug 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 70/100

Of which business quality 66 · Market factors (momentum, volatility) 83

Profitability 36
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 86
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 60
Calm price path (market factor)
Momentum 88
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 76
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Ecora Royalties PLC operates as a natural resource royalty and streaming company in Australia, North and South America, Europe, and internationally.

Full company description

Ecora Royalties PLC operates as a natural resource royalty and streaming company in Australia, North and South America, Europe, and internationally. It has royalties and investments in mining and exploration of various commodities, including cobalt, steelmaking coal, iron ore, copper, nickel, vanadium, uranium, coking coal, calcium carbonate, chromite, gold, rare earth metals, and silver. The company was formerly known as Ecora Resources PLC and changed its name to Ecora Royalties PLC in January 2026. Ecora Royalties PLC was incorporated in 1967 and is headquartered in London, the United Kingdom.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ECOR.TO reported revenue of $57.0M in FY2025 versus $85.3M in FY2021, a compound −9.6%/yr. Reported net income was $22.6M in FY2025, compounding −4.9%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
C$57.0M
Latest YoY
−4.3%
Avg. revenue growth/yr (3Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−26.2%
Avg. revenue growth/yr (5Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.5%
Avg. revenue growth/yr (40Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+2.6%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−8.5% · in CAD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−9.1%
Dividend yield0.6%
Trend ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y −9.1% vs 10Y −5.3%, flattening
Operating margin (EBIT) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.80.4% (2019) → 45.3% (2025) · falling
Worst earnings drop480% (2014) (loss year, drop beyond 100%) · in CAD
Revenue −9.6%/yr
FY21 $85.3M
FY22 $142M
FY23 $61.9M
FY24 $59.6M
FY25 $57.0M
Net income −4.9%/yr
FY21 $27.7M
FY22 $78.3M
FY23 $847K
FY24 −$9.8M
FY25 $22.6M

ECOR screens 68% overvalued. Compare with BHP Group →

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ECOR.TO · Fair Value
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Cite: Fair Value Calculator (2026). "ECOR.TO Fair Value". https://www.fairvalue-calculator.com/stock/ECOR.TO

Peer Group

Other Industrial Metals & Mining · 469 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Dividend yield (TTM) 0.6% · Below median

Valuation Multiples vs Other Industrial Metals & Mining median · lower = cheaper

P/E (TTM) 24.9× · Pricier than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE66 · sector 0
FUTURE100 · sector 32
PAST0 · sector 5
HEALTH100 · sector 97
DIVIDEND0 · sector 35

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate (as of Aug 24, 2026).

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Saudi Arabian Mining Company 1211 65.50 SAR 33.87 SAR −48%
CMOC Group 603993 ¥18.42 ¥16.15 −12%
Teck Resources Limited TECK $69.34 $32.02 −54%
Hindustan Zinc Limited HINDZINC ₹573.00 ₹508.34 −11%
China Tungsten And Hightech Materials Co 000657 ¥66.76 ¥9.55 −86%
China Northern Rare Earth (Group) High-Tech Co 600111 ¥41.02 ¥10.59 −74%
Western Mining Co 601168 ¥37.85 ¥25.99 −31%
Boliden AB BOL kr 527.80 kr 461.48 −13%

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Frequently asked questions

Is ECOR.TO (ECOR) overvalued or undervalued?
As of Aug 24, 2026, our model estimates a fair value of C$1.93 versus a price of C$3.24, about −40% upside (overvalued).
What is the fair value of ECOR?
Our model-based fair value for ECOR.TO is C$1.93 (as of Aug 24, 2026), built from audited fundamentals. The current price: C$3.24.
What is the quality score of ECOR?
ECOR.TO has a Quality Score of 70/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for ECOR.TO (ECOR)?
Our model-based price target is the fair value of C$1.93 (as of Aug 24, 2026) from 26 valuation models. Cautious scenario C$1.16, optimistic scenario C$2.14. It is a calculation from audited fundamentals, not an analyst target.
What is the ECOR.TO stock forecast for 2026?
Our models put fair value at C$1.93, about −40% upside versus a price of C$3.24 (overvalued). Cautious scenario C$1.16, optimistic scenario C$2.14. The calculation is refreshed regularly with new filings.
What is the revenue of ECOR.TO (ECOR)?
ECOR.TO reported trailing-twelve-month revenue of about C$55.9M (latest available figure, as of Aug 24, 2026).
What is the net profit margin of ECOR?
The net profit margin of ECOR.TO is about 39.7%, meaning it keeps roughly 39.7% of revenue as net income. Based on the latest reported figures.
Does ECOR.TO pay a dividend?
ECOR.TO currently shows a dividend yield of about 0.62% relative to its recent price (as of Aug 24, 2026).
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