Is the business good?
How good a business is IE?
Ivanhoe Electric Inc. earns 3.2% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
3.2%
Return on invested capital · cost of capital 9.0% · 5.8 points below what the capital costs: growth destroys value
- Operating margin
- 303%
Operating margin · Copper median 38% · 12 months to Q1 2026
- Share count, year on year
- +25%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 19%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2021 | −1306% |
| FY2022 | −1566% |
| FY2023 | −4622% |
| FY2024 | −6100% |
| FY2025 | −3501% |
Details›
- Gross margin12 months to Q1 2026
- 65%
- Operating margin12 months to Q1 2026
- 303%
- Net margin12 months to Q1 2026
- −283%
- Free cash flow margin
- −3208%
- R&D as % of revenue
- 19%
- Revenue, trailing twelve months
- $3.4M
- Free cash flow, trailing twelve months
- −$108M
- Net income, trailing twelve months
- −$9.5M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 3.2%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.