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TRX GOLD CORP (TRX.CA) Stock Fundamental Analysis

TSX:TRX - Toronto Stock Exchange - CA87283P1099 - Common Stock - Currency: CAD

0.495  +0.02 (+4.21%)

Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to TRX. TRX was compared to 806 industry peers in the Metals & Mining industry. While TRX is still in line with the averages on profitability rating, there are concerns on its financial health. TRX has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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6

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.
In multiple years TRX reported negative net income over the last 5 years.
In multiple years TRX reported negative operating cash flow during the last 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10M -10M -20M

1.2 Ratios

With an excellent Return On Assets value of 1.36%, TRX belongs to the best of the industry, outperforming 86.23% of the companies in the same industry.
TRX has a better Return On Equity (2.79%) than 87.59% of its industry peers.
Looking at the Return On Invested Capital, with a value of 5.33%, TRX belongs to the top of the industry, outperforming 91.44% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for TRX is significantly below the industry average of 12.40%.
The 3 year average ROIC (4.70%) for TRX is below the current ROIC(5.33%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 1.36%
ROE 2.79%
ROIC 5.33%
ROA(3y)2.9%
ROA(5y)-5.69%
ROE(3y)4.91%
ROE(5y)-7.86%
ROIC(3y)4.7%
ROIC(5y)N/A
TRX.CA Yearly ROA, ROE, ROICTRX.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -50 -100 -150

1.3 Margins

TRX has a Profit Margin of 3.20%. This is amongst the best in the industry. TRX outperforms 89.70% of its industry peers.
TRX has a better Operating Margin (20.68%) than 92.68% of its industry peers.
Looking at the Gross Margin, with a value of 37.60%, TRX belongs to the top of the industry, outperforming 92.93% of the companies in the same industry.
Industry RankSector Rank
OM 20.68%
PM (TTM) 3.2%
GM 37.6%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
TRX.CA Yearly Profit, Operating, Gross MarginsTRX.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60

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1

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so TRX is destroying value.
TRX has more shares outstanding than it did 1 year ago.
The number of shares outstanding for TRX has been increased compared to 5 years ago.
Compared to 1 year ago, TRX has a worse debt to assets ratio.
TRX.CA Yearly Shares OutstandingTRX.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M

2.2 Solvency

Based on the Altman-Z score of 0.14, we must say that TRX is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.14, TRX is in line with its industry, outperforming 45.04% of the companies in the same industry.
TRX has a Debt/Equity ratio of 0.03. This is a healthy value indicating a solid balance between debt and equity.
With a Debt to Equity ratio value of 0.03, TRX perfoms like the industry average, outperforming 43.30% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF N/A
Altman-Z 0.14
ROIC/WACC0.61
WACC8.71%
TRX.CA Yearly LT Debt VS Equity VS FCFTRX.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M 40M

2.3 Liquidity

A Current Ratio of 0.77 indicates that TRX may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.77, TRX is doing worse than 63.28% of the companies in the same industry.
A Quick Ratio of 0.35 indicates that TRX may have some problems paying its short term obligations.
TRX has a worse Quick ratio (0.35) than 70.35% of its industry peers.
Industry RankSector Rank
Current Ratio 0.77
Quick Ratio 0.35
TRX.CA Yearly Current Assets VS Current LiabilitesTRX.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M 20M

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4

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 100.00% over the past year.
TRX shows a strong growth in Revenue. In the last year, the Revenue has grown by 29.97%.
EPS 1Y (TTM)100%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%100%
Revenue 1Y (TTM)29.97%
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%22.92%

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 27.51% on average per year.
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year28.85%
Revenue Next 2Y27.51%
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.
TRX.CA Yearly Revenue VS EstimatesTRX.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2022 2023 2024 2025 2026 20M 40M 60M
TRX.CA Yearly EPS VS EstimatesTRX.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2021 2022 2023 2024 2025 2026 0 0.02 -0.02 0.04 0.06

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4

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Forward Earnings ratio of 5.47, the valuation of TRX can be described as very cheap.
Based on the Price/Forward Earnings ratio, TRX is valued cheaply inside the industry as 95.78% of the companies are valued more expensively.
TRX's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 36.80.
Industry RankSector Rank
PE N/A
Fwd PE 5.47
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

93.80% of the companies in the same industry are more expensive than TRX, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 7.46
TRX.CA Per share dataTRX.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 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 N/A

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TRX GOLD CORP

TSX:TRX (7/31/2025, 7:00:00 PM)

0.495

+0.02 (+4.21%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)07-14 2025-07-14/amc
Earnings (Next)12-01 2025-12-01/amc
Inst Owners2.12%
Inst Owner ChangeN/A
Ins Owners1.45%
Ins Owner ChangeN/A
Market Cap140.03M
Analysts80
Price Target1.62 (227.27%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
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)-149.5%
Min EPS beat(2)-199.01%
Max EPS beat(2)-100%
EPS beat(4)0
Avg EPS beat(4)-112.38%
Min EPS beat(4)-199.01%
Max EPS beat(4)-50.49%
EPS beat(8)0
Avg EPS beat(8)-118.56%
EPS beat(12)0
Avg EPS beat(12)-112.38%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-30.92%
Min Revenue beat(2)-34.44%
Max Revenue beat(2)-27.4%
Revenue beat(4)0
Avg Revenue beat(4)-23.13%
Min Revenue beat(4)-34.44%
Max Revenue beat(4)-7.94%
Revenue beat(8)0
Avg Revenue beat(8)-21.52%
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)-3.4%
PT rev (3m)-4.57%
EPS NQ rev (1m)-66.67%
EPS NQ rev (3m)-66.67%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)-37.67%
Revenue NQ rev (3m)-37.67%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-9.6%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 5.47
P/S 2.13
P/FCF N/A
P/OCF 7.33
P/B 1.85
P/tB 1.85
EV/EBITDA 7.46
EPS(TTM)0
EYN/A
EPS(NY)0.09
Fwd EY18.29%
FCF(TTM)0
FCFYN/A
OCF(TTM)0.07
OCFY13.65%
SpS0.23
BVpS0.27
TBVpS0.27
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 1.36%
ROE 2.79%
ROCE 11.72%
ROIC 5.33%
ROICexc 5.78%
ROICexgc 5.78%
OM 20.68%
PM (TTM) 3.2%
GM 37.6%
FCFM N/A
ROA(3y)2.9%
ROA(5y)-5.69%
ROE(3y)4.91%
ROE(5y)-7.86%
ROIC(3y)4.7%
ROIC(5y)N/A
ROICexc(3y)5.29%
ROICexc(5y)N/A
ROICexgc(3y)5.29%
ROICexgc(5y)N/A
ROCE(3y)10.33%
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.42
Health
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF N/A
Debt/EBITDA 0.15
Cap/Depr 467.81%
Cap/Sales 30.54%
Interest Coverage 250
Cash Conversion 106.7%
Profit Quality N/A
Current Ratio 0.77
Quick Ratio 0.35
Altman-Z 0.14
F-Score5
WACC8.71%
ROIC/WACC0.61
Cap/Depr(3y)4701.66%
Cap/Depr(5y)4096.58%
Cap/Sales(3y)58.87%
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)100%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%100%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)29.97%
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%22.92%
Revenue Next Year28.85%
Revenue Next 2Y27.51%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y24.32%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y56.69%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-18.19%
OCF growth 3YN/A
OCF growth 5YN/A