Metalla Royalty & Streaming Ltd.

MTA
About the company

Metalla Royalty & Streaming Ltd., a precious metals royalty and streaming company, engages in the acquisition and management of gold, silver, copper royalties, streams, and related production-based interests in Canada. The company operates in Australia, Brazil, Mexico, and the United States. The company was formerly known as Excalibur Resources Ltd.

Country: CanadaPrice: $7.37Market Cap: $694.5M

Investment snapshot

0%positive consensus
Scored 1d ago

Positive

0

BUY / PASS

Neutral / negative

2 / 14

NEUTRAL / FAIL

Median fair value

—

No comparable estimates

Models with upside

0 / 17

Positive margin of safety

Strongest signal

7 of 12 pass — Graham, Buffett, Lynch +2 more object

Key risk

No clean pass — all 16 investors flag at least one profitability criterion

Framework analysis

VerdictMeaning
BUYPositive purchase signal: the framework's buy requirements are met.
PASSThe company clears the framework's checklist or screen, but the framework does not produce a buy signal. For valuation frameworks this often means margin of safety is missing, insufficient, or unavailable; some screen-only frameworks have no intrinsic-value BUY state.
NEUTRALNeither a positive nor negative conclusion. It does not mean to hold an existing position.
FAILThe company does not clear the framework's requirements.
RankedRanked strategies do not use PASS: selected cohort is BUY, outside the cohort is FAIL, and unranked is NEUTRAL.

Current investor scores use trailing 12-month flows and the latest balance sheet where supported. Multi-year and EPS tests retain annual history; each framework shows its financial basis below. Intrinsic values use annual financials.

MetricGraham

Defensive Value

Buffett

Quality Compounder

Lynch

GARP

Greenblatt

Magic Formula

Piotroski

F-Score

Dreman

Contrarian Value

Munger

Quality Focus

Pabrai

Dhandho Framework

Akre

Three-Legged Stool

Marks

Risk-Aware Value

Ackman

Activist Value

Templeton

Global Bargain Hunter

Sleep

Scale Economies Shared

Asness

Systematic Factors

Neff

Low-P/E Total Return

Schloss

Asset-Value Discipline

O'Shaughnessy

Systematic Factor Composite

VerdictFAILFAILFAILNot rankedNEUTRALFAILFAILFAILFAILFAILFAILFAILFAILFAILFAILFAILNEUTRAL
Score
AnalysisChecking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…
Intrinsic Value (annual)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Margin of SafetyN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Financial Basis

Annual history · FY 2025

Latest source filing: 2026-03-26

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-26

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-26

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-26

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-26

Score computed: 2026-11-14

Annual history · FY 2025 · Market data at 2026-11-01

Latest source filing: 2026-03-26

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2025

Latest source filing: 2026-03-26

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2025

Latest source filing: 2026-03-26

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-03-26

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-03-26

Score computed: 2026-11-14

Annual history · FY 2025 · Market data at 2026-11-01

Latest source filing: 2026-03-26

Score computed: 2026-11-14

Annual history · FY 2025 · Price history 2025-01-01–2026-11-01

Latest source filing: 2026-03-26

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-03-26

Score computed: 2026-11-14

Annual history · FY 2025 · Price history 2025-01-01–2026-11-01

Latest source filing: 2026-03-26

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-26

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-26

Score computed: 2026-11-14

Annual history · FY 2025 · Price history 2025-01-01–2026-11-01

Latest source filing: 2026-03-26

Score computed: 2026-11-14

Where It Passes

  • Debt & Leverage58% pass✓ 10✗ 5▾

    7 of 12 pass — Graham, Buffett, Lynch +2 more object

    LT Debt vs Net Current AssetsLT Debt $12.2M vs NCA $9.0M
    ✗GrahamLT Debt <= Net Current Assets
    Debt/Equity & Interest CoverageD/E: 0.05, IC: -0.0x
    ✗BuffettD/E < 0.5 AND Interest Coverage > 5x
    Total Debt / Equity0.05
    ✓Lynch< 0.33
    Cash - Long-term Debt$-2.4M
    ✗LynchPositive preferred
    LT Debt / Total Assets Change0.00% -> 4.50%
    ✗PiotroskiDecreased YoY
    Current Assets / Current Liabilities2.41
    ✓Dreman> 1.5✓SchlossCurrent ratio >= 1.50x (app cutoff)
    Total Debt / Shareholders' Equity0.05
    ✓Dreman< 0.8✓Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✓SchlossD/E < 1.00x
    Debt Levels0.05
    ✓MungerDebt/Equity < 0.5✓AkreDebt/Equity < 0.3
    Interest Coverage & Debt/EBITDAIC=-0.0x, D/EBITDA=N/A (D&A unavailable)
    ✗MarksInterest Coverage > 3x; Debt/EBITDA < 4x
    Total Debt / Shareholders Equity0.05
    ✓Ackman<= 1.0
    Negative debt-to-equity (higher means less debt)-0.0484; #1000/4210 (top 23.8%)
    ✓AsnessTop 30% of eligible cross-section

Where It Falls Short

  • Profitability0% pass✓ 5✗ 30▾

    No clean pass — all 16 investors flag at least one profitability criterion

    Positive EPS (10 years)0/10 years positive
    ✗GrahamPositive EPS every year for 10 years
    EPS Growth (3-yr avg, 10-yr window)
    ✗Graham>= 33% growth
    Net Income Positive (10+ years)0/10 years positive
    ✗BuffettPositive every year for 10+ years
    ROE (up to 5-year arithmetic mean)-5.2%
    ✗Buffett> 15% arithmetic mean (app rule)
    Operating Margin (10-yr trend)-0.5% (latest)
    ✓BuffettStable or rising over 10 years
    Free Cash Flow Proxy
    ✗BuffettPositive and growing
    Earnings Variance (10-yr CoV)
    ✗BuffettCoV < 0.3
    Retained Earnings Effectiveness
    ✗Buffett$1 retained -> > $1 market value created
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    ROE-1.7%
    ✗Lynch> 15%
    EBIT / Enterprise Value-0.0%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=-0.0%, ROC=None
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Net Income / Total Assets-1.57%
    ✗PiotroskiROA > 0
    ROA Change YoY-2.04% -> -1.57% (delta: +0.47%)
    ✓PiotroskiCurrent ROA > Prior ROA
    (CFO / Total Assets) vs ROACFO/Assets=1.63%, ROA=-1.57%
    ✓PiotroskiCFO/Assets > ROA
    Gross Margin Change YoY57.3% -> 80.9%
    ✓PiotroskiImproved YoY
    Pre-Tax Income / Revenue-30.4%
    ✗Dreman>= 8%
    Net Income / Shareholders' Equity-1.7%
    ✗Dreman> 12%
    Margin of SafetyP/B=2.7x
    ✗PabraiP/B < 1.5 or P/E < 15
    Return on Equity-2.1% (3-yr avg)
    ✗AkreROE > 20% (3-year avg)
    Discount to Intrinsic Value
    ✗Marks>= 20% below intrinsic value
    Positive Net Income Frequency0/8 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    Operating Income / Revenue-0.5%
    ✗Ackman>= 15%
    Net Income / Shareholders Equity-1.7%
    ✗Ackman>= 15%
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Operating Margin Trend-159.6% (2023) -> -0.5% (2025)
    ✓TempletonNon-negative operating-margin trend over 3 years
    Revenue growth vs. gross and operating margin trendgross margin 48.0% -> 80.9%, operating margin -159.6% -> -0.5%
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    Net income / market capitalization-0.61%; #3333/6340 (top 52.6%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Gross profit / total assets+3.51%; #3186/3702 (top 86.1%)
    ✗AsnessTop 30% of eligible cross-section
    Net income / positive book equity-1.68%; #3027/5226 (top 57.9%)
    ✗AsnessTop 30% of eligible cross-section
    Negative 5-year standard deviation of ROA-0.0340; #2069/5884 (top 35.2%)
    ✗AsnessTop 30% of eligible cross-section
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
    Positive Diluted-EPS Years0/5 years positive
    ✗Schloss>= 70% positive over 5-10 observed years (app rule)
  • Valuation0% pass✗ 28▾

    All 13 investors flag MTA's valuation

    Price / 3-yr avg EPS
    ✗Graham<= 15x
    Price-to-Book Ratio2.7x
    ✗Graham<= 1.5x
    P/E x P/B
    ✗Graham<= 22.5
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    EBIT / Enterprise Value-0.0%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=-0.0%, ROC=None
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Price / EPS
    ✗Dreman< 12x✗Templeton< 12x (fixed ceiling; proxy for the market's cheapest 40%)
    Price / (CFO / Shares)155.3x
    ✗Dreman< 8x
    Price / Book Value per Share2.7x
    ✗Dreman< 1.2x✗Templeton< 1.5x✗SchlossP/B <= 0.80x (app cutoff)
    Valuation Reasonableness
    ✗MungerP/E < 25 or Owner Earnings Yield > 5%
    P/E or FCF Yield
    ✗PabraiP/E < 15 or FCF Yield > 10%
    P/B or P/E vs. Historical AverageP/B=2.7x
    ✗MarksP/E < 15 or P/B < 2.0
    Discount to Intrinsic Value
    ✗Marks>= 20% below intrinsic value
    Price / FCF per Share
    ✗Ackman<= 25
    Price vs. Trailing Low268% of trailing low ($2.75)
    ✗Templeton<= 120% of trailing low (certified split-adjusted live window)
    Net income / market capitalization-0.61%; #3333/6340 (top 52.6%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Positive book equity / market capitalization+0.3625; #3422/6449 (top 53.1%)
    ✗AsnessTop 30% of eligible cross-section
    Price / Diluted EPS
    ✗NeffP/E <= 15x (app proxy for a P/E 40%-60% below the market)
    (EPS CAGR % + Dividend Yield %) / P/E
    ✗Neff> 0.7 (Neff's published traditional edge)
    Price / Tangible Book Value per Share2.72x
    ✗SchlossP/TBV <= 1.00x (app cutoff)
    Book Value per Share Change
    ✗SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)
    Revenue / market capitalization+0.0169; #4785/5247 (top 91.2%)
    ✗OshaughnessyTop 10% of eligible cross-section
    (Operating cash flow - capex) / market capitalization
    ✗OshaughnessyTop 10% of eligible cross-section
    Trailing six-month price return through the evaluation date+6.66%; #2047/6202 (top 33.0%)
    ✗OshaughnessyTop 10% of eligible cross-section
  • Growth0% pass✓ 2✗ 11▾

    No clean pass — all 8 investors flag at least one growth criterion

    EPS Growth (3-yr avg, 10-yr window)
    ✗Graham>= 33% growth
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    Inventory Growth vs Revenue GrowthN/A (no inventory)
    ✓LynchInventory growth < Revenue growth
    EPS Growth Direction
    ✗DremanPositive over recent years
    EPS CAGR
    ✗Dreman> 5% annualized
    Positive Net Income Frequency0/8 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    3yr Median Revenue Growth90.4%
    ✓Ackman>= 5%
    Positive EPS Growth Frequency
    ✗AckmanPositive EPS growth in >= 3 of last 5 years
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Revenue growth vs. gross and operating margin trendgross margin 48.0% -> 80.9%, operating margin -159.6% -> -0.5%
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    5-year Revenue CAGR
    ✗SleepCAGR > 7%
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
  • Verdicts0% pass✗ 14▾

    Split decision: 14 FAIL · 2 NEUTRAL

    Overall verdict
    ✗GrahamFAIL (1/9)✗BuffettFAIL (1/9)✗LynchFAIL (2/7)•GreenblattNot ranked•PiotroskiNEUTRAL (F-Score 6)✗DremanFAIL (2/11)✗MungerFAIL (1/4)✗PabraiFAIL (0/3)✗AkreFAIL (1/6)✗MarksFAIL (0/5)✗AckmanFAIL (3/9)✗TempletonFAIL (3/8)✗SleepFAIL (0/6)✗AsnessFAIL (Rank #1540/2370 (Top 65.0%))✗NeffFAIL (1/6)✗SchlossFAIL (2/7)•OshaughnessyNEUTRAL (Not ranked)
  • Cash Flow10% pass✓ 2✗ 10▾

    9 of 10 flag MTA's cash flow — Buffett, Lynch, Dreman +6 more

    Free Cash Flow Proxy
    ✗BuffettPositive and growing
    FCF Positive and Growing
    ✗LynchPositive and growing
    Operating Cash Flow$4.4M
    ✓PiotroskiCFO > 0
    (CFO / Total Assets) vs ROACFO/Assets=1.63%, ROA=-1.57%
    ✓PiotroskiCFO/Assets > ROA
    Price / (CFO / Shares)155.3x
    ✗Dreman< 8x
    P/E or FCF Yield
    ✗PabraiP/E < 15 or FCF Yield > 10%
    FCF Positive
    ✗MarksPositive FCF in majority of recent years
    (OCF - CapEx) / Market Cap
    ✗Ackman>= 4%
    Price / FCF per Share
    ✗Ackman<= 25
    Positive Operating Cash Flow frequency5/8 years positive
    ✗SleepPositive OCF in >= 70% of available years
    Operating Cash Flow - Capital Expenditures
    ✗Neff> $0 (app proxy for a strong fundamental case)
    (Operating cash flow - capex) / market capitalization
    ✗OshaughnessyTop 10% of eligible cross-section
  • Efficiency38% pass✓ 4✗ 7▾

    5 of 8 flag MTA's efficiency — Buffett, Greenblatt, Munger +2 more

    Current Ratio2.41
    ✓Graham>= 2.0
    ROIC (3-5 yr avg)-2.5%
    ✗Buffett> 10%
    ROIC - WACC-12.5%
    ✗BuffettPositive (WACC = 10%)
    EBIT / (NWC + Net Fixed Assets)
    ✗Greenblatt> 25%
    Current Ratio Change YoY0.93 -> 2.41
    ✓PiotroskiIncreased YoY
    Revenue / Total Assets Change YoY0.02x -> 0.04x
    ✓PiotroskiImproved YoY
    Current Assets / Current Liabilities2.41
    ✓Dreman> 1.5
    Return on Invested Capital-0.0%
    ✗Munger> 15%
    ROIC (high and growing)FY2023: ROIC=-2.1%; FY2024: ROIC=-1.3%; FY2025: ROIC=-0.0%
    ✗AkreLatest 3 consecutive FYs: ROIC > 15% in each
    Reinvestment Rate x ROICN/A (non-positive net income)
    ✗AkreReinvestment Rate * ROIC > 10%
    ROIC (5-year)0/4 years above 12% (latest -0.0%)
    ✗SleepROIC > 12% in a majority of years

Business & financials

Financial snapshot: annual FY 2025. Current investor scores may use newer quarterly data.

Company Profile

Industry: Precious Metals
SIC Sector: Metal Mining
Size: Small Cap($694.5M)
Revenue: $11.7M+99.6% YoY
Net Income: $4.2M+22.6% YoY

Financial Snapshot

Operating Margin-0.5%
Return on Equity-1.7%
Debt / Equity0.05
Current Ratio2.41
EPS (Diluted)$-0.05
Shares Retired−0.9% / −2.2% 2y

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$31.6B
KGCKINROSS GOLD CORP
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Shareholder Return

Fiscal 2025

Issued 0.9% of shares last year, 2.2% issued over two.

Buybacks
—
Dividends
—

Company Financials

Latest TTM and quarters alongside annual years

TTM sums four consecutive quarters and uses the latest quarter-end balances. Quarter columns show three-month results; annual columns show full-year totals. Growth compares the same period a year earlier. EPS is not added for TTM; full-year ratios are blank for quarters.

MetricFY 2025
Sources
  • 40-F · 2026-03-26
FY 2024
Sources
  • 40-F · 2025-03-27
FY 2023
Sources
  • 40-F · 2024-03-28
FY 2022
Sources
  • 40-F · 2023-03-31
FY 2021
Sources
  • 40-F · 2022-03-25
Market Cap$694.5Mcurrent$262.4Mest.$254.5Mest.$242.6Mest.$277.8Mest.
Revenue$11.7M↑100%$5.9M↑28%$4.6M↑90%$2.4M↓19%$3.0M
Operating Income-$64.0K↑99%-$4.5M↑39%-$7.3M↑25%-$9.8M--
Net Income-$4.2M↑23%-$5.5M↑6%-$5.8M↑47%-$10.9M↓5%-$10.4M
EPS (Diluted)$-0.05↑17%$-0.06↑45%$-0.11↑54%$-0.24$-0.24
Gross Margin80.9%↑41%57.3%↑19%48.0%↑91%25.1%↑20%21.0%
Operating Margin-0.5%↑99%-76.1%↑52%-159.6%↑61%-407.0%—
ROE-1.7%↑22%-2.2%↑6%-2.3%↑75%-9.2%↑11%-10.4%
Total Debt$12.2M↓4%$12.7M↓52%$26.6M↑151%$10.6M↑1%$10.5M
Shareholders' Equity$251.8M$252.0M$252.9M↑113%$118.6M↑18%$100.6M
Current Ratio2.41↑158%0.93↑9%0.86↓41%1.46↓76%5.99
Debt / Equity0.05↓4%0.05↓52%0.11↑18%0.09↓15%0.10
Operating Cash Flow$4.4M↑271%-$2.6M↓597%$518.0K↑1580%-$35.0K↓112%$299.0K
Free Cash Flow----------

Score history

Historical Score Timeline

Industry peers

Industry Peers

Similar companies in Precious Metals

MTA vs Peers — Financial Grading

Revenue$11.7MBottom 25%
Net Income$4.2MBottom 25%
ROE-1.7%Bottom 25%
D/E0.05Median
Op. Margin-0.5%Bottom 25%
Curr. Ratio2.41Median
CompanyMarket CapPriceRevenueNet IncomeROED/EOp. MarginCurr. RatioGrahamBuffettLynchGreenblattPiotroskiDreman
AGNICO EAGLE MINES LTDAEM$90.2B$178.45$11.9B$4.5B18.0%0.01—2.023/95/95/71/3F-Score 95/11
BARRICK MINING CORPB$61.2B$37.59$17.0B$5.0B18.8%0.17—2.923/95/97/73/3F-Score 95/11
GOLD FIELDS LTDGFI$31.6B$35.76$5.2B$1.2B23.9%0.48——2/93/95/70/3F-Score 56/11
KINROSS GOLD CORPKGC$24.5B$20.76$7.1B$2.4B27.9%0.0946.5%2.354/95/97/73/3F-Score 99/11
PAN AMERICAN SILVER CORPPAAS$15.5B$37.50$3.6B$980.0M14.0%0.1034.1%2.693/92/94/70/3F-Score 75/11
Coeur Mining, Inc.CDE$14.3B$13.98$2.1B$585.9M17.7%0.0234.2%2.472/92/92/71/3F-Score 64/11
Equinox Gold Corp.EQX$12.3B$10.31$1.8B$221.5M3.8%0.2723.8%—2/92/93/70/3F-Score 62/11
ALAMOS GOLD INCAGI$12.0B$28.61$1.8B$885.8M19.9%0.0460.7%2.004/92/97/70/3F-Score 87/11