Versamet Royalties Corporation (VMET) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Versamet Royalties Corporation stock C$9.76, price C$12.93, that is 24.5% below the price, quality 57 out of 100. Rating: overvalued. Calculated from audited financials with 22 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
11‑month range C$11.40 – C$18.66 · fair‑value band C$4.39 – C$18.21 · the C$12.93 price screens above the C$9.76 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Versamet Royalties Corporation operates as metals royalty and streaming company, engages in the acquiring and managing royalties, streams, and other similar interests on metals and mining operations and projects in Peru, the United States, Africa, and Canada.
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It explores for silver, gold, copper, graphite, lead, uranium, zinc, and molybdenum metals. Versamet Royalties Corporation was formerly known as Sandbox Royalties Corp. and changed its name to Versamet Royalties Corporation in June 2024.
The company was incorporated in 2011 and is based in Vancouver, Canada.
Stock analysis
Versamet Royalties Corporation (VMET) currently trades at C$12.93, while our model-based Fair Value estimate is C$9.76, 25% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of C$11.37 per share, and 0 of the 22 models we run sit above the C$12.93 price.
Bear case: the Asset-Based group reads lowest at C$2.03, and 22 of the 22 models stay below the price. Data coverage for this calculation is medium.
Scenario range: C$4.39 (bear) to C$18.21 (bull), the price of C$12.93 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 57/100 (solid quality), in the Basic Materials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Versamet Royalties Corporation reported revenue of $34.8M in FY2025 versus $3.1M in FY2023, a compound +232.7%/yr. Reported net income was $20.3M in FY2025.
Key figures
Market cap C$1.4B (≈ $967M) Small · P/E ratio 26.9 · P/S ratio 15.8 · EPS (TTM) C$0.4800 · Net margin 58.5% · Return on equity 12.2% · Return on assets (EBIT) 3.2% (3-year average) · Operating margin 58.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 70 out of 100 (low confidence).
What moves the price
The share trades about 31% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −17% fair-value upside, at −25%, VMET screens richer than that median.
Fair Value models
BearC$4.39Fair Value C$9.76BullC$18.21
Price C$12.93 · Downside -24.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (C$0.4103 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
EPVC$1.40C$1.83C$2.1971
Residual IncomeC$2.42C$2.57C$2.8768
EV/EBITDAC$2.59C$4.05C$5.5166
All 22 models by family
DCF Models
FCF DCFC$2.91C$5.07C$11.5165
5Y Revenue ExitC$0.0800C$0.7000C$1.9454
5Y EBITDA ExitC$2.75C$6.09C$12.6461
5Y P/E ExitC$2.05C$6.23C$11.8458
10Y Revenue ExitC$1.02C$2.70C$3.2659
10Y EBITDA ExitC$2.82C$7.94C$16.7055
10Y P/E ExitC$2.36C$6.57C$13.2852
Earnings-Based
Graham-DoddC$1.79C$12.52C$17.5756
Lynch FVC$6.47C$9.24C$12.0154
PEG = 1.0C$6.47C$9.24C$12.0151
EPVC$1.40C$1.83C$2.1971
Multiples
P/E MultipleC$3.37C$4.49C$5.6163
P/S MultipleC$0.5100C$0.6800C$0.850058
P/B MultipleC$6.83C$9.11C$11.3955
EV/EBITC$3.50C$5.26C$7.0265
EV/EBITDAC$2.59C$4.05C$5.5166
Asset-Based
NCAV (Graham)C$1.52C$2.03C$3.0454
Growth DCF
Growth DCFC$2.61C$5.82C$10.8566
Rev-Margin DCFC$0.0200C$0.6900C$2.1054
Economic Profit
Residual IncomeC$2.42C$2.57C$2.8768
ROIC CompounderC$1.40C$1.83C$2.1964
Growth Earnings
Growth-Adj P/EC$7.96C$11.37C$14.7860
The fair value above starts from this blend and is adjusted for dilution from new shares.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: only 3 usable fiscal years, at least 4 required
not computed
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+42.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Canada: IMF forecast 2.1% a year to 2030, 2.6% from 2016 to 2025) that is about +39.9% a year for the price.
Compare Versamet Royalties Corporation with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Other Precious Metals & Mining · 101 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score57 · Top 25%
Fair Value upside−24.5% · Above median
Profitability
Return on equity (12 months)12.2% · Above median
Return on assets4.9% · Above median
Net margin (12 months)49.9% · Top 25%
Operating margin (12 months)58.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)391.9% · Top 25%
Balance sheet
Debt / equity0.60× · Highest 25%
Valuation Multiplesvs Other Precious Metals & Mining median · lower = cheaper
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Is Versamet Royalties Corporation (VMET) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of C$9.76 versus a price of C$12.93, about 25% lower (overvalued).
What is the fair value of VMET?
Our model-based fair value for Versamet Royalties Corporation is C$9.76 (as of Nov 5, 2026), built from audited fundamentals. The current price: C$12.93.
What is the quality score of VMET?
Versamet Royalties Corporation has a Quality Score of 57/100. 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 Versamet Royalties Corporation (VMET)?
Our model-based price target is the fair value of C$9.76 (as of Nov 5, 2026) from 22 valuation models. Cautious scenario C$4.39, optimistic scenario C$18.21. It is a calculation from audited fundamentals, not an analyst target.
What is the Versamet Royalties Corporation stock forecast for 2026?
Our models put fair value at C$9.76, about 25% lower versus a price of C$12.93 (overvalued). Cautious scenario C$4.39, optimistic scenario C$18.21. The calculation is refreshed regularly with new filings.
What is the revenue of Versamet Royalties Corporation (VMET)?
Versamet Royalties Corporation reported trailing-twelve-month revenue of about C$74.2M (latest available figure, as of Nov 5, 2026).
What growth is priced into Versamet Royalties Corporation (VMET)?
For today's price to be fair in a discounted-cash-flow model, Versamet Royalties Corporation would have to grow free cash flow by +42.9 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 2 years revenue grew +232.7 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of VMET use?
Our models discount Versamet Royalties Corporation at 11.0 %: a base by market capitalisation (small), country premium for Canada. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Versamet Royalties Corporation that is +42.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has Versamet Royalties Corporation (VMET) delivered so far?
Over the past 2 years revenue at Versamet Royalties Corporation grew +232.7 % a year. The price currently implies free-cash-flow growth of +42.9 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Versamet Royalties Corporation (VMET) growing?
The median revenue growth in the sector is +11.3 % a year. That is the yardstick for the growth priced into Versamet Royalties Corporation (+42.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Versamet Royalties Corporation (VMET)?
The free-cash-flow yield on the price is 1.24 %: that much free cash flow Versamet Royalties Corporation produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Versamet Royalties Corporation (VMET)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Versamet Royalties Corporation it is C$9.76 per share (as of Nov 5, 2026), against a price of C$12.93. It is the blended result of 22 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Versamet Royalties Corporation stock overvalued or undervalued in 2026?
As of Nov 5, 2026, VMET trades above its calculated fair value: price C$12.93, fair value C$9.76, a gap of about −25% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of VMET?
No. The price is what the market pays today (C$12.93); the fair value is what the company's own numbers justify (C$9.76). For Versamet Royalties Corporation the two are C$3.17 per share apart. That gap is exactly why we show both numbers side by side.
How much is Versamet Royalties Corporation worth?
The market values Versamet Royalties Corporation at about C$1.4B (market capitalisation, as of Nov 5, 2026). Per share that is C$12.93; our models calculate a fair value of C$9.76 per share.
What do the bullish and bearish scenarios say about VMET?
Our models span a range for Versamet Royalties Corporation: cautious scenario C$4.39, base C$9.76, optimistic C$18.21 per share (as of Nov 5, 2026, price C$12.93). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of VMET?
Versamet Royalties Corporation trades at a price-to-earnings ratio of 26.9 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of C$9.76 is built from several models across several years. Other multiples: P/B 4.1, P/S 13.0, EV/EBITDA 13.8.
How solid is the balance sheet of Versamet Royalties Corporation (VMET)?
Balance-sheet figures for Versamet Royalties Corporation (as of Nov 5, 2026): return on equity 12.2%, debt of 0.60 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is VMET from its 52-week high?
Versamet Royalties Corporation trades at C$12.93, about 31% below its 52-week high of C$18.66 and 13% above the low of C$11.40 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of C$9.76 is for.
Which stocks are comparable to Versamet Royalties Corporation?
From the same area (Basic Materials) we also value PT Amman Mineral Internasional Tbk, Hecla Mining Company, China Gold International Resources Corp, Compañía de Minas Buenaventura S.A., among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Versamet Royalties Corporation stock attractive at the current price?
The data as of Nov 5, 2026: price C$12.93, calculated fair value C$9.76 (−25%), Quality Score 57/100, from 22 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of VMET calculated?
We run Versamet Royalties Corporation through 22 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of C$9.76 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Versamet Royalties Corporation itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Versamet Royalties Corporation (VMET)?
The closing price on Nov 6, 2026 was C$12.93. Our model-based fair value is C$9.76, about 25% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Versamet Royalties Corporation right now?
The model range is unusually wide (C$4.39 to C$18.21). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Versamet Royalties Corporation
How large is the market capitalisation of Versamet Royalties Corporation (VMET)?
The market capitalisation of Versamet Royalties Corporation is C$1.4B (≈ $967M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Versamet Royalties Corporation (VMET)?
The price-to-sales ratio of Versamet Royalties Corporation is 15.8 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Versamet Royalties Corporation (VMET)?
Earnings per share at Versamet Royalties Corporation are C$0.4800 (price ÷ EPS = P/E 26.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Versamet Royalties Corporation (VMET)?
The net margin of Versamet Royalties Corporation is 58.5% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Versamet Royalties Corporation (VMET)?
The return on equity (ROE) of Versamet Royalties Corporation is 12.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Versamet Royalties Corporation (VMET)?
On an EBIT basis the return on assets of Versamet Royalties Corporation is 3.2% (avg 3y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Versamet Royalties Corporation (VMET)?
The operating margin of Versamet Royalties Corporation is 58.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Versamet Royalties Corporation (VMET)?
Revenue at Versamet Royalties Corporation is growing +392% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Versamet Royalties Corporation (VMET)?
Earnings per share at Versamet Royalties Corporation are growing +21.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Versamet Royalties Corporation (VMET) carry?
The net debt of Versamet Royalties Corporation is C$137M (fiscal year 2025, ≈ 8.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 5, 2026