Artemis Gold Inc.

ARTG.V · Basic Materials · Other Precious Metals & Mining · Valued as of 2026-11-03 · Statements 2025-12-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

3.85B USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

940.96M USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

940.96M USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

1.91B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

6.46B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.30×

the ratio the screener ranks by

Margin of Safety

-237.9%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 3.85B USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)2.28B USD
−②Net Debt Today285.87M USD
+③Growth Value1.86B USD
=Value3.85B USD

EPV of the Operations (NOPAT over WACC)

2.28B USD

Net debt today

-285.87M USD

Growth Value

+1.86B USD

Value

3.85B USD

①EPV (Earnings Power Value)

2.28B USD

②Net Debt Today

285.87M USD

③Growth Value

1.86B USD

Market value

Market Cap6.46B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-67.7%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 940.96M USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.

The projection was not made (a profit at or below zero in the latest three years), so the value is the book value today, 940.96M USD, as the screener leaves it.

①Present Value of the 15 Years of FCFE

Not in the value

②Equity at Year 15, Today

Not in the value

Market value

Market Cap6.46B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-586.2%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 940.96M USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).

The projection was not made (an operating profit at or below zero in the latest three years), so the value is the book value today, 940.96M USD, as the screener leaves it.

①Present Value of the 15 Years of FCFF

Not in the value

②Invested Capital at Year 15, Today

Not in the value

③Net Debt Today

Not in the value

Market value

Market Cap6.46B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-586.2%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 13.64%
Cost of Equity =Risk-Free Rate 4.50%+Beta 1.61×Market Risk Premium 6.00%= 14.15%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 134.77M USDPretax Income 389.98M USD= 34.56%

The tax the interest saves.

Interest Expense =EBIT 425.03M USD−Pretax Income 389.98M USD= 35.05M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 35.05M USDTotal Debt 411.94M USD×(1 − Tax Rate for WACC 34.56%)= 5.57%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 411.94M USDMarket Cap + Total Debt 6.46B USD + 411.94M USD= 6.00%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 94.00%×Cost of Equity 14.15%+Debt Weight 6.00%×Cost of Debt 5.57%= 13.64%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-06-30.

Total Assets 2.06B USD − Total Liabilities 1.12B USD = Book Value Today 940.96M USD

Total Debt 411.94M USD − Cash and Short-Term Investments 126.06M USD = Net Debt Today 285.87M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 117.3%at most 5%does not pass233,120,445 / 198,706,255
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets7.5%at least -10.0%passes(409.84M USD − 255.22M USD) ÷ 2.06B USD
Price to bookMarket Cap ÷ Book Value Today6.86×at most 3×does not pass6.46B USD ÷ 940.96M USD
Operating marginOperating Income ÷ Revenue71.0%above 10.0%passes474.47M USD ÷ 668.03M USD
Revenue growthRevenue ÷ Revenue a Year Before − 1—above 10.0%not measured668.03M USD / 0 USD
Net cash(Cash − Total Debt) ÷ Market Cap-4.4%above -30%passes(126.06M USD − 411.94M USD) ÷ 6.46B USD
Operating efficiencyOperating Income ÷ Gross Profit96.8%above 25.0%passes474.47M USD ÷ 490.21M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

38.77 CAD

Enterprise value

9.49B CAD

the provider's own figure

EV / EBITDA

9.44×

Price / book

6.76×

the provider's book

Price / earnings

16.55×

Return on equity

53.5%

the provider's figure, not this page's

Profit margin

40.1%

Revenue growth

87.6%

Analyst target, mean

55.40 CAD

Analysts

7

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

Income statement (USD)2022202320242025

Revenue

000668.03M

Gross profit

-304.51K-514.04K0490.21M

Operating income

-9.73M-10.81M-12.38M474.47M

EBITDA

operating income before depreciation and amortisation

-15.62M-8.06M-21.41M449.21M

Pretax income

-15.98M-8.66M-21.93M389.98M

Net income

-15.98M-8.66M-21.93M255.22M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

-8.20M-8.66M-12.75M280.21M

R&D

————
Balance sheet, year end (USD)2022202320242025

Total assets

485.10M848.02M1.19B1.81B

Total liabilities

58.59M408.14M778.18M1.07B

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

426.51M439.87M412.16M739.71M

Total debt

1.26M124.72M425.58M433.67M

Cash and equivalents

143.36M118.48M19.73M122.87M

Net PP&E

fixed assets after depreciation

321.83M684.09M1.15B1.51B

Working capital

current assets less current liabilities

126.87M83.06M-177.02M-39.33M
Cash flow (USD)2022202320242025

Operating cash flow

-4.47M-6.45M-6.15M409.84M

Capital expenditure

paid out, so below zero

-71.58M-299.95M-337.60M-293.38M

Depreciation and amortisation

304.51K514.04K475.05K24.18M

Free cash flow

operating cash flow plus capital expenditure

-76.06M-306.40M-343.75M116.46M