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Eldorado Gold (EGO) USD

At a glance: strengths & risks
✓Revenue growing (+38%)✓Profit growing (+74%)✓Margins improving (51%→54%)✓Low leverage (0.4x EBITDA)

Sector: Gold mining

Geography: Canada, Greece, Turkey, Brazil

COMM_EGO

Price chart

39.73 USDDay 3.36%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
39.73 USD · 3.36%
Market cap
8.2 bn USD

Growth

Δ revenue y/y
7.9%
Δ EBITDA y/y
10.2%

Multiples

P/E (LTM)
13.5x
P/B (FY)
1.9x
P/E (ann.)
11.8x
EV/EBITDA (LTM)
8.2x
EV/EBITDA (ann.)
8.8x

Cash return

Dividend yield
—
FCF yield (LTM)
-12.5%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-54.4%
↓ details

Liquidity

Daily turnover
—

Shares: yahoo_fundamentals_timeseries/EGO

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-06-30Q2 2026 (3M)OK487.5
y/y 7.9%
212.4
y/y 20.8%
54.7
y/y -17.6%
267.1
y/y 10.2%
172.8
y/y 25.2%
149.5-469.610252.2
y/y 62.3%
6861.6
y/y 67.1%
12.4%1195.4Link
2026-03-31Q1 2026 (3M)OK532.4
y/y 50.0%
261.4
y/y 112.2%
54.4
y/y -10.2%
315.9
y/y 71.8%
136.4
y/y 88.4%
141.4-316.06700.0
y/y 12.6%
4318.4
y/y 8.2%
12.7%601.1Link
2025-12-31Q4 2025 (3M)PARTIAL561.7
y/y 28.4%
249.2
y/y 44.3%
70.1
y/y 5.3%
319.3
y/y 33.5%
240.8
y/y 129.2%
283.2-308.36727.3
y/y 15.3%
4279.3
y/y 9.8%
12.0%420.3Link
2025-09-30Q3 2025 (3M)OK429.9
y/y 28.7%
170.6
y/y 67.7%
64.1
y/y -3.9%
234.7
y/y 39.3%
55.4
y/y -41.7%
130.8-242.26479.1
y/y 16.6%
4097.2
y/y 8.8%
1.8%229.7Link
2025-06-30Q2 2025 (3M)OK451.7
y/y 52.5%
175.9
y/y 100.6%
66.4
y/y 7.9%
242.3
y/y 62.4%
138.0
y/y 148.8%
151.5-198.66317.9
y/y 19.7%
4106.1
y/y 11.9%
13.6%95.2Link
2025-03-31Q1 2025 (3M)OK355.0
y/y 39.3%
123.2
y/y 115.1%
60.6
y/y 7.7%
183.8
y/y 61.8%
72.4
y/y 115.5%
130.6-164.05951.8
y/y 17.6%
3992.0
y/y 11.4%
7.3%-37.2Link
2024-12-31Q4 2024 (3M)OK437.3
y/y 42.5%
172.7
y/y 155.0%
66.6
y/y -8.2%
239.2
y/y 70.6%
105.1
y/y 14.6%
224.9-171.05835.6
y/y 17.0%
3896.6
y/y 10.8%
7.5%66.2Link
2024-09-30Q3 2024 (3M)OK334.1
y/y 35.8%
101.8
y/y 137.4%
66.7
y/y 4.6%
168.4
y/y 57.9%
95.0
y/y —
173.6-170.05556.3
y/y 15.5%
3766.1
y/y 10.4%
3.4%201.6Link
2024-06-30Q2 2024 (3M)OK296.2
y/y 25.7%
87.7
y/y 124.4%
61.5
y/y -5.2%
149.2
y/y 43.5%
55.5
y/y 6168.9%
110.2-133.05279.8
y/y 11.3%
3669.3
y/y 7.4%
6.1%168.9Link
2024-03-31Q1 2024 (3M)OK254.9
y/y 12.1%
57.3
y/y 66.7%
56.3
y/y -17.7%
113.6
y/y 10.5%
33.6
y/y 57.6%
86.6-120.15060.3
y/y 12.4%
3582.7
y/y 10.3%
3.8%133.4Link
2023-12-31Q4 2023 (3M)OK306.9
y/y —
67.7
y/y —
72.5
y/y —
140.2
y/y —
91.7
y/y —
159.6-128.84987.6
y/y —
3518.1
y/y —
3.0%101.2Link
2023-09-30Q3 2023 (3M)OK246.0
y/y —
42.9
y/y —
63.8
y/y —
106.7
y/y —
-8.0
y/y —
108.0-114.64812.2
y/y —
3411.2
y/y —
-0.3%139.5Link
2023-06-30Q2 2023 (3M)OK235.7
y/y —
39.1
y/y —
64.9
y/y —
104.0
y/y —
0.9
y/y —
75.1-86.24742.1
y/y —
3416.7
y/y —
0.1%108.0Link
2023-03-31Q1 2023 (3M)OK227.3
y/y —
34.4
y/y —
68.4
y/y —
102.8
y/y —
21.3
y/y —
41.3-75.34503.0
y/y —
3247.7
y/y —
—252.1Link

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)232
Long-term debt (incl. LT leases)1 518
− Cash & equivalents555
Net debt1 195

Net debt / LTM EBITDA: 1.1x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

02004006002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

0%20%40%60%80%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF ($ mln)

-300-200-10001002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

-25002505007501 0001 2502024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Profit is cash-backed
In a typical year of 2021–2025 operating cash flow came to 2.06x of reported net profit; after capex, -0.28x. Loss years (2021, 2022) are left out of the ratio.
year20212022202320242025
cash flow / profit——3.66x2.06x0.56x
accruals, % of assets-10.1%-12.7%-5.6%-5.2%3.3%
Last twelve months (to 2026-06-30): 1.16x of profit came back as operating cash flow.
net debt / EBITDA 0.4x · capex 2.0x of depreciation
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Gold

Proved reserves
11.72 mln gold oz
2024
Reserve life (R/P)
24.0 yrs
reserves ÷ annual output
Annual production
0.49 mln gold oz
2025

Production, mln gold oz

0.8520210.4520220.4920230.5220240.492025

Proved reserves

YearReserves, mln gold oz
202411.72
202312.31

Production

YearProduction, mln gold ozper day, mln gold oz
20260.47 * (3M)
+304.0%		0.01
20250.49
−6.2%		0.00
20240.52
+7.0%		0.00
20230.49
+7.1%		0.00
20220.45
−46.6%		0.00
20210.850.00
20200.28 * (6M)0.00

* partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Key-commodity price — Gold

Current 4 351spot vs LTM +2%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -54.4% ▼ -0.1 pp 1d

Main driver: Gold +3% vs LTM; revenue ×1.02 vs costs ×1.20; EBITDA 1 140→790; at 5.7× EV/EBITDA → -54%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $vs LTM, EUR3y vs LTM
Gold (rev)+91%4 351.124 242.243 235.98+3%+3%-24%
US Diesel Index (EIA) (cost)-15%5.264.214.13+25%+26%-2%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue2 012
LTM EBITDA1 140
LTM cash costs (revenue − EBITDA)871
2 · Revenue projection
Revenue multiplier — spot×1.023 (+2%)
= Spot revenue2 059
Revenue multiplier — 3y price×0.783 (-22%)
= 3-year-price revenue1 576
3 · Costs projection
Cost multiplier — spot×1.199 (+20%)
= Spot cash costs1 045
Cost multiplier — 3y price×1.159 (+16%)
= 3-year-price cash costs1 010
4 · EBITDA projection (revenue − costs)
= Spot EBITDA1 014
= 3-year-price EBITDA566
Conservative EBITDA = min(spot, avg)790
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)5.7x
Target EV = EV/EBITDA × conservative EBITDA4 477
Net debt1 195
Target market cap = EV − net debt3 204
Current market cap7 019

Upside = target market cap ÷ current − 1 = -54.4%

Life of mine: 23 yrs

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q3246243+1.3%113192-41.2%
2023 Q4307249+23.1%140209-32.9%
2024 Q1255270-5.6%114118-3.9%
2024 Q2296302-1.9%149143+4.6%
2024 Q3334324+3.0%168156+8.2%
2024 Q4437352+24.2%239175+36.6%
2025 Q1355389-8.8%175203-13.6%
2025 Q2452444+1.8%242241+0.4%
2025 Q3430476-9.7%235252-6.9%
2025 Q4562554+1.4%297323-7.8%
2026 Q1532617-13.8%316363-12.9%
2026 Q2487561-13.1%292328-10.8%

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +38% vs +31% the year before — a +6.6 pp move. 3-year CAGR +28%.
revenue growth by year: 2023 +16% · 2024 +31% · 2025 +38%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 6.3x · target 75th pct (3y) 5.7x · LTM avg 6.2x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

No dividend rows found for this issuer (checked: Yahoo Finance (ex-div)).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Eldorado Gold (EGO) — from primary filings.

Eldorado Gold Corporation is a mining company that explores, develops, and produces gold and other metals, with operations in Turkey, Canada, and Greece.

Frequently asked questions

What is Eldorado Gold (EGO)'s P/E ratio?
Eldorado Gold (EGO) trades at a P/E of 13.5x (price to trailing 12-month earnings).
What is Eldorado Gold (EGO)'s EV/EBITDA?
Eldorado Gold (EGO) trades at 8.2x EV/EBITDA.
What is Eldorado Gold (EGO)'s P/B ratio?
Eldorado Gold (EGO) trades at a P/B of 1.9x.
What is Eldorado Gold (EGO)'s return on equity (ROE)?
Eldorado Gold (EGO)'s ROE is 12.4%.
What is Eldorado Gold (EGO)'s market capitalization?
Eldorado Gold (EGO)'s market cap is 8.2 bn USD.

See also: Gold Mining Stocks: The Cheapest Gold Miners by Valuation (2026) · The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map