Vox Royalty Corp
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Vox Royalty Corp AI Insights
Informational only. Not investment advice.Snapshot
- FCF TTM is -10.3M despite 4.7M operating cash flow - capex of 15M (123% of revenue) signals aggressive royalty acquisition phase.[Free Cash Flow TTM]
- Gross margin 62% TTM vs industry median 27% reflects royalty model's structural cost advantage - no mining opex.[Gross Margin TTM]
- 5Y revenue CAGR 227% vs industry 13% - but EPS -49% 3Y CAGR shows dilution/acquisition costs outpacing income.[Total Revenue 5Y Growth]
Watch Triggers
- Capital Expenditure TTM: Drops below 50% of revenue — Signals transition from portfolio-building to harvest phase, FCF inflection point
- Net Margin TTM: Turns positive — Currently -12.8% - profitability validates royalty portfolio quality
- Total Revenue TTM: Exceeds 20M annualized — Operating leverage should kick in - G&A of 1.3M becomes smaller % of revenue
Bull Case
Royalty model delivers 62% gross margin with minimal operating leverage risk - revenue scales without proportional cost increases as underlying mines produce.
Conservative balance sheet (debt/equity 0.12, 12M cash) allows continued portfolio building without equity dilution pressure.
Bear Case
P/S of 23.7x (4x industry median 6.0x) prices in significant production growth that depends on third-party mine operators.
Net loss of -1.6M TTM with -49% 3Y EPS CAGR - path to profitability unclear if acquisition pace continues.
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
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Forward Thesis
Royalty portfolio should inflect to positive FCF as acquisition pace normalizes and mines ramp.
- Capex 123% of revenue unsustainable long-term
- Operating cash flow already positive at 4.7M TTM
- Gross margin 62% provides high incremental conversion
Valuation Context
Caveats
VOXR Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$457.65M | — | ||
$456.27M | — | ||
60 | — | ||
$16.62M | +50.5% | — | |
$0.10 | — | ||
14.1% | +4.2% | — | |
35.4% | +50.3% | — | |
$-63.07M | — | ||
7.84% | +11.6% | — | |
Beta 5Y (Monthly) | unknown | — |
VOXR Dividend History
2026
$0.01502025
$0.05002024
$0.04802023
$0.04402022
$0.0200VOXR Stock Splits
VOXR SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
03/30/26 | 12/31/25 | Unknown | |
11/12/25 | 09/30/25 | 6-K | |
08/13/25 | 06/30/25 | 6-K | |
05/15/25 | 03/31/25 | 6-K | |
03/26/25 | 12/31/24 | 40-F | |
11/06/24 | 09/30/24 | 6-K | |
08/07/24 | 06/30/24 | 6-K | |
05/08/24 | 03/31/24 | 6-K | |
03/08/24 | 12/31/23 | 40-F | |
11/09/23 | 09/30/23 | 6-K | |
08/11/23 | 06/30/23 | 6-K | |
05/11/23 | 03/31/23 | 6-K | |
03/15/23 | 12/31/22 | 40-F | |
11/15/22 | 09/30/22 | Quarterly | -- |
08/15/22 | 06/30/22 | Quarterly | -- |
05/24/22 | 03/31/22 | Quarterly | -- |
04/26/22 | 12/31/21 | Annual | -- |
11/22/21 | 09/30/21 | Quarterly | -- |
08/16/21 | 06/30/21 | Quarterly | -- |
05/25/21 | 03/31/21 | Quarterly | -- |
04/26/21 | 12/31/20 | Annual | -- |
11/17/20 | 09/30/20 | Quarterly | -- |
08/28/20 | 06/30/20 | Quarterly | -- |
05/28/20 | 03/31/20 | Quarterly | -- |
04/26/21 | 12/31/19 | Annual | -- |
11/17/20 | 09/30/19 | Quarterly | -- |
08/28/20 | 06/30/19 | Quarterly | -- |
05/28/20 | 03/31/19 | Quarterly | -- |