Mako Mining Corp.

MKO.V · Basic Materials · Gold · 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

255.81M USD

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

Profit

1.32B USD

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

Profit is over 3× the larger of EPV and FCFF

FCFF

190.46M USD

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

Average Intrinsic Value

588.89M USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

701.45M USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.84×

the ratio the screener ranks by

Margin of Safety

-19.1%

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: 255.81M 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)144.79M USD
+②Net Cash Today83.52M USD
+③Growth Value27.50M USD
=Value255.81M USD

EPV of the Operations (NOPAT over WACC)

144.79M USD

Net cash today

+83.52M USD

Growth Value

+27.50M USD

Value

255.81M USD

①EPV (Earnings Power Value)

144.79M USD

②Net Cash Today

83.52M USD

③Growth Value

27.50M USD

Market value

Market Cap701.45M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-174.2%

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): 1.32B 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.
①Present Value of the 15 Years of FCFE1.03B USD
+②Equity at Year 15, Today289.05M USD
=Value1.32B USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

1.03B USD

②Equity at Year 15, Today

289.05M USD

Market value

Market Cap701.45M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+46.9%

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): 190.46M 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 (a change in working capital above half the operating profit in the latest three years), so the value is the book value today, 190.46M 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 Cash Today

Not in the value

Market value

Market Cap701.45M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-268.3%

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: 14.55%
Cost of Equity =Risk-Free Rate 4.50%+Beta 1.76×Market Risk Premium 6.00%= 15.05%

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 20.98M USDPretax Income 54.75M USD= 38.31%

The tax the interest saves.

Interest Expense =EBIT 55.76M USD−Pretax Income 54.75M USD= 1.01M USD

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

Cost of Debt =Interest Expense 1.01M USDTotal Debt 28.62M USD×(1 − Tax Rate for WACC 38.31%)= 2.18%

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

Debt Weight =Total Debt 28.62M USDMarket Cap + Total Debt 701.45M USD + 28.62M USD= 3.92%

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

WACC =Equity Weight 96.08%×Cost of Equity 15.05%+Debt Weight 3.92%×Cost of Debt 2.18%= 14.55%

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 296.80M USD − Total Liabilities 106.34M USD = Book Value Today 190.46M USD

Total Debt 28.62M USD − Cash and Short-Term Investments 112.14M USD = Net Debt Today -83.52M 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 − 133.6%at most 5%does not pass87,595,000 / 65,551,000
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets6.5%at least -10.0%passes(53.03M USD − 33.77M USD) ÷ 296.80M USD
Price to bookMarket Cap ÷ Book Value Today3.68×at most 3×does not pass701.45M USD ÷ 190.46M USD
Operating marginOperating Income ÷ Revenue36.5%above 10.0%passes54.31M USD ÷ 148.62M USD
Revenue growthRevenue ÷ Revenue a Year Before − 161.2%above 10.0%passes148.62M USD / 92.17M USD
Net cash(Cash − Total Debt) ÷ Market Cap6.2%above -30%passes(71.98M USD − 28.62M USD) ÷ 701.45M USD
Operating efficiencyOperating Income ÷ Gross Profit72.3%above 25.0%passes54.31M USD ÷ 75.09M USD

Market Data

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

Share price

11.21 CAD

Enterprise value

910.01M CAD

the provider's own figure

EV / EBITDA

9.45×

Price / book

3.67×

the provider's book

Price / earnings

13.66×

Return on equity

36.6%

the provider's figure, not this page's

Profit margin

25.1%

Revenue growth

61.7%

Analyst target, mean

19.52 CAD

Analysts

1

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

63.44M66.01M92.17M148.62M

Gross profit

12.05M24.03M46.43M75.09M

Operating income

-5.61M12.32M34.31M54.31M

EBITDA

operating income before depreciation and amortisation

12.26M23.33M37.86M64.00M

Pretax income

-9.89M8.89M29.38M54.75M

Net income

-11.99M6.81M19.17M33.77M

Normalized income

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

-10.48M8.42M21.54M32.48M

R&D

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

Total assets

45.22M41.85M107.19M208.65M

Total liabilities

31.53M21.20M30.19M57.77M

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

13.68M20.65M77.00M150.88M

Total debt

15.78M10.93M6.78M69.07K

Cash and equivalents

523.52K1.50M14.54M77.35M

Net PP&E

fixed assets after depreciation

32.30M20.55M69.83M80.66M

Working capital

current assets less current liabilities

-3.26M7.06M10.78M82.96M
Cash flow (USD)2022202320242025

Operating cash flow

16.40M12.48M34.49M53.03M

Capital expenditure

paid out, so below zero

-8.81M-4.77M-12.89M-12.33M

Depreciation and amortisation

20.47M13.50M7.71M8.23M

Free cash flow

operating cash flow plus capital expenditure

7.59M7.71M21.59M40.70M