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TRX GOLD CORP (TRX.CA) Stock Fundamental Analysis

Canada - Toronto Stock Exchange - TSX:TRX - CA87283P1099 - Common Stock

1.32 CAD
-0.03 (-2.22%)
Last: 1/13/2026, 7:00:00 PM
Fundamental Rating

5

TRX gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 813 industry peers in the Metals & Mining industry. TRX has an excellent profitability rating, but there are some minor concerns on its financial health. TRX has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • TRX had negative earnings in the past year.
  • TRX had a positive operating cash flow in the past year.
  • The reported net income has been mixed in the past 5 years: TRX reported negative net income in multiple years.
  • TRX had a positive operating cash flow in 4 of the past 5 years.
TRX.CA Yearly Net Income VS EBIT VS OCF VS FCFTRX.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10M -10M -20M

1.2 Ratios

  • Looking at the Return On Assets, with a value of 0.59%, TRX belongs to the top of the industry, outperforming 85.61% of the companies in the same industry.
  • The Return On Equity of TRX (1.20%) is better than 85.98% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 12.41%, TRX belongs to the top of the industry, outperforming 95.33% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for TRX is in line with the industry average of 11.94%.
  • The last Return On Invested Capital (12.41%) for TRX is above the 3 year average (11.37%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 0.59%
ROE 1.2%
ROIC 12.41%
ROA(3y)2.83%
ROA(5y)-0.36%
ROE(3y)4.47%
ROE(5y)0.07%
ROIC(3y)11.37%
ROIC(5y)N/A
TRX.CA Yearly ROA, ROE, ROICTRX.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -50 -100 -150

1.3 Margins

  • The Profit Margin of TRX (1.19%) is better than 89.42% of its industry peers.
  • With an excellent Operating Margin value of 27.75%, TRX belongs to the best of the industry, outperforming 94.10% of the companies in the same industry.
  • TRX's Operating Margin has improved in the last couple of years.
  • The Gross Margin of TRX (41.55%) is better than 93.23% of its industry peers.
  • TRX's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 27.75%
PM (TTM) 1.19%
GM 41.55%
OM growth 3Y108.79%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-12.57%
GM growth 5YN/A
TRX.CA Yearly Profit, Operating, Gross MarginsTRX.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 40 60

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4

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so TRX is still creating some value.
  • The number of shares outstanding for TRX has been increased compared to 1 year ago.
  • Compared to 5 years ago, TRX has more shares outstanding
  • The debt/assets ratio for TRX is higher compared to a year ago.
TRX.CA Yearly Shares OutstandingTRX.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M 250M
TRX.CA Yearly Total Debt VS Total AssetsTRX.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M

2.2 Solvency

  • An Altman-Z score of 2.25 indicates that TRX is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • TRX has a Altman-Z score (2.25) which is in line with its industry peers.
  • TRX has a debt to FCF ratio of 1.09. This is a very positive value and a sign of high solvency as it would only need 1.09 years to pay back of all of its debts.
  • TRX has a better Debt to FCF ratio (1.09) than 93.73% of its industry peers.
  • A Debt/Equity ratio of 0.03 indicates that TRX is not too dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.03, TRX is in line with its industry, outperforming 42.44% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF 1.09
Altman-Z 2.25
ROIC/WACC1.35
WACC9.19%
TRX.CA Yearly LT Debt VS Equity VS FCFTRX.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20M 40M

2.3 Liquidity

  • TRX has a Current Ratio of 1.05. This is a normal value and indicates that TRX is financially healthy and should not expect problems in meeting its short term obligations.
  • TRX has a Current ratio (1.05) which is in line with its industry peers.
  • A Quick Ratio of 0.52 indicates that TRX may have some problems paying its short term obligations.
  • TRX's Quick ratio of 0.52 is on the low side compared to the rest of the industry. TRX is outperformed by 67.77% of its industry peers.
Industry RankSector Rank
Current Ratio 1.05
Quick Ratio 0.52
TRX.CA Yearly Current Assets VS Current LiabilitesTRX.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5M 10M 15M 20M 25M

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6

3. Growth

3.1 Past

  • The earnings per share for TRX have decreased strongly by -82.64% in the last year.
  • TRX shows a strong growth in Revenue. In the last year, the Revenue has grown by 39.98%.
  • Measured over the past years, TRX shows a very strong growth in Revenue. The Revenue has been growing by 56.29% on average per year.
EPS 1Y (TTM)-82.64%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%0%
Revenue 1Y (TTM)39.98%
Revenue growth 3Y56.29%
Revenue growth 5YN/A
Sales Q2Q%72.54%

3.2 Future

  • No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
  • Based on estimates for the next years, TRX will show a very strong growth in Revenue. The Revenue will grow by 71.40% on average per year.
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year103.23%
Revenue Next 2Y71.4%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

  • No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
TRX.CA Yearly Revenue VS EstimatesTRX.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2022 2023 2024 2025 2026 2027 50M 100M 150M
TRX.CA Yearly EPS VS EstimatesTRX.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2021 2022 2023 2024 2025 2026 2027 0 0.05 0.1 0.15 0.2

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5

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Forward Earnings ratio of 10.46 indicates a reasonable valuation of TRX.
  • Based on the Price/Forward Earnings ratio, TRX is valued cheaply inside the industry as 93.85% of the companies are valued more expensively.
  • When comparing the Price/Forward Earnings ratio of TRX to the average of the S&P500 Index (24.04), we can say TRX is valued rather cheaply.
Industry RankSector Rank
PE N/A
Fwd PE 10.46
TRX.CA Price Earnings VS Forward Price EarningsTRX.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 0 0 0 0

4.2 Price Multiples

  • TRX's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. TRX is cheaper than 93.36% of the companies in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of TRX indicates a rather cheap valuation: TRX is cheaper than 91.02% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 105.48
EV/EBITDA 13.46
TRX.CA Per share dataTRX.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0.05 0.1 0.15 0.2 0.25

4.3 Compensation for Growth

  • TRX has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

  • No dividends for TRX!.
Industry RankSector Rank
Dividend Yield 0%

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TRX GOLD CORP

TSX:TRX (1/13/2026, 7:00:00 PM)

1.32

-0.03 (-2.22%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)12-01
Earnings (Next)01-13
Inst Owners2.48%
Inst Owner ChangeN/A
Ins Owners1.84%
Ins Owner ChangeN/A
Market Cap377.34M
Revenue(TTM)57.61M
Net Income(TTM)687.00K
Analysts80
Price Target2.05 (55.3%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-67%
Min EPS beat(2)-100%
Max EPS beat(2)-33.99%
EPS beat(4)0
Avg EPS beat(4)-108.25%
Min EPS beat(4)-199.01%
Max EPS beat(4)-33.99%
EPS beat(8)0
Avg EPS beat(8)-110.31%
EPS beat(12)0
Avg EPS beat(12)-106.88%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)-6.06%
Min Revenue beat(2)-27.4%
Max Revenue beat(2)15.28%
Revenue beat(4)1
Avg Revenue beat(4)-13.63%
Min Revenue beat(4)-34.44%
Max Revenue beat(4)15.28%
Revenue beat(8)1
Avg Revenue beat(8)-17.26%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)8.34%
PT rev (3m)22.29%
EPS NQ rev (1m)25%
EPS NQ rev (3m)150%
EPS NY rev (1m)92.84%
EPS NY rev (3m)34.99%
Revenue NQ rev (1m)13.74%
Revenue NQ rev (3m)33.51%
Revenue NY rev (1m)50.93%
Revenue NY rev (3m)44.3%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 10.46
P/S 4.72
P/FCF 105.48
P/OCF 16.7
P/B 4.75
P/tB 4.75
EV/EBITDA 13.46
EPS(TTM)0
EYN/A
EPS(NY)0.13
Fwd EY9.56%
FCF(TTM)0.01
FCFY0.95%
OCF(TTM)0.08
OCFY5.99%
SpS0.28
BVpS0.28
TBVpS0.28
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA 0.59%
ROE 1.2%
ROCE 17.24%
ROIC 12.41%
ROICexc 13.55%
ROICexgc 13.55%
OM 27.75%
PM (TTM) 1.19%
GM 41.55%
FCFM 4.47%
ROA(3y)2.83%
ROA(5y)-0.36%
ROE(3y)4.47%
ROE(5y)0.07%
ROIC(3y)11.37%
ROIC(5y)N/A
ROICexc(3y)12.66%
ROICexc(5y)N/A
ROICexgc(3y)12.66%
ROICexgc(5y)N/A
ROCE(3y)15.8%
ROCE(5y)N/A
ROICexgc growth 3Y166.22%
ROICexgc growth 5YN/A
ROICexc growth 3Y166.22%
ROICexc growth 5YN/A
OM growth 3Y108.79%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-12.57%
GM growth 5YN/A
F-Score5
Asset Turnover0.49
Health
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF 1.09
Debt/EBITDA 0.08
Cap/Depr 356.17%
Cap/Sales 23.78%
Interest Coverage 250
Cash Conversion 82.09%
Profit Quality 375.26%
Current Ratio 1.05
Quick Ratio 0.52
Altman-Z 2.25
F-Score5
WACC9.19%
ROIC/WACC1.35
Cap/Depr(3y)756.49%
Cap/Depr(5y)3523.26%
Cap/Sales(3y)34.48%
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-82.64%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%0%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)39.98%
Revenue growth 3Y56.29%
Revenue growth 5YN/A
Sales Q2Q%72.54%
Revenue Next Year103.23%
Revenue Next 2Y71.4%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y44.8%
EBIT growth 3Y226.33%
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3Y82.17%
EBIT Next 5Y50.54%
FCF growth 1Y57.39%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y6.29%
OCF growth 3Y76.52%
OCF growth 5YN/A

TRX GOLD CORP / TRX.CA FAQ

What is the ChartMill fundamental rating of TRX GOLD CORP (TRX.CA) stock?

ChartMill assigns a fundamental rating of 5 / 10 to TRX.CA.


Can you provide the valuation status for TRX GOLD CORP?

ChartMill assigns a valuation rating of 5 / 10 to TRX GOLD CORP (TRX.CA). This can be considered as Fairly Valued.


How profitable is TRX GOLD CORP (TRX.CA) stock?

TRX GOLD CORP (TRX.CA) has a profitability rating of 7 / 10.