West African Resources Ltd
ASX:WAF

Watchlist Manager
West African Resources Ltd Logo
West African Resources Ltd
ASX:WAF
Watchlist
Price: 2.445 AUD -6.68% Market Closed
Market Cap: 2.8B AUD
Section:
Relative Value
Relative Value
Valuation Multiples
Multiples Across Competitors
See Also

Relative Value

The Relative Value of one WAF stock under the Base Case scenario is 4.841 AUD. Compared to the current market price of 2.445 AUD, West African Resources Ltd is Undervalued by 49%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

WAF Relative Value
Base Case
4.841 AUD
Undervaluation 49%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

3.8
P/S
P/S
Price to Sales
3.8
vs History
14
vs Industry
42
Median 3Y
1.8
Median 5Y
2
Industry
1.8
Forward
2
More Details
12.4
P/E
P/E
Price to Earnings
12.4
vs History
11
vs Industry
19
Median 3Y
6.8
Median 5Y
7.3
Industry
16
Forward
6.3
More Details
11.1
P/OCF
P/OCF
Price to OCF
11.1
vs History
20
vs Industry
17
Median 3Y
6.5
Median 5Y
5.8
Industry
9.3
More Details
21
P/FCFE
P/FCFE
Price to FCFE
21
vs History
34
vs Industry
13
Median 3Y
7.8
Median 5Y
13.7
Industry
15.6
More Details
2.2
P/B
P/B
Price to Book Value
2.2
vs History
39
vs Industry
31
Median 3Y
1.6
Median 5Y
2
Industry
1.6
More Details
3.8
EV/S
EV/S
Enterprise Value to Sales
3.8
vs History
14
vs Industry
42
Median 3Y
1.5
Median 5Y
1.9
Industry
2.1
Forward
2
More Details
7.9
EV/GP
EV/GP
Enterprise Value to Gross Profit
7.9
vs History
11
vs Industry
38
Median 3Y
3.4
Median 5Y
3.6
Industry
7.2
More Details
8.5
EV/EBITDA
EV/EBITDA
Enterprise Value to EBITDA
8.5
vs History
11
vs Industry
20
Median 3Y
3.9
Median 5Y
4.1
Industry
10.2
Forward
3.5
More Details
8.5
EV/EBIT
EV/EBIT
Enterprise Value to EBIT
8.5
vs History
11
vs Industry
22
Median 3Y
3.9
Median 5Y
4.1
Industry
13
Forward
4
More Details
11.1
EV/OCF
EV/OCF
Enterprise Value to OCF
11.1
vs History
20
vs Industry
19
Median 3Y
6.5
Median 5Y
5.8
Industry
10.5
More Details
Negative
EV/FCFF
EV/FCFF
Enterprise Value to FCFF
N/A
vs History
vs Industry
12
Median 3Y
-11.4
Median 5Y
-4.3
Industry
13.9
More Details
1.8
EV/IC
EV/IC
Enterprise Value to IC
1.8
vs History
39
vs Industry
33
Median 3Y
1.3
Median 5Y
1.7
Industry
1.4
More Details

Multiples Across Competitors

WAF Competitors Multiples
West African Resources Ltd Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
Market Cap P/S P/E EV/EBITDA EV/EBIT
AU
West African Resources Ltd
ASX:WAF
2.8B AUD 3.8 12.4 8.5 8.5
RU
Polyus PJSC
LSE:PLZL
70.4T USD 11 327.8 35 254.3 19 448.7 22 318.7
ZA
Gold Fields Ltd
JSE:GFI
410B Zac 0 0 0 0
ZA
Harmony Gold Mining Company Ltd
JSE:HAR
170B Zac 0 0 0 0
CN
Zijin Mining Group Co Ltd
SSE:601899
475.2B CNY 1.5 13.2 11.3 11.3
CA
Agnico Eagle Mines Ltd
TSX:AEM
83.9B CAD 6.9 26 11.5 16.3
US
Newmont Corporation
NYSE:NEM
61.1B USD 3.1 12 6.8 9.3
CA
Wheaton Precious Metals Corp
TSX:WPM
56.8B CAD 28.5 67.1 39.9 53.7
CA
Barrick Gold Corp
TSX:ABX
47B CAD 2.6 14.8 5.2 7.2
CA
Franco-Nevada Corp
TSX:FNV
45.4B CAD 27.1 53.8 30.7 39.7
RU
Polyus PAO
MOEX:PLZL
2.5T RUB 3.7 8.3 6.3 7
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
AU
West African Resources Ltd
ASX:WAF
Average EV/EBITDA: 2 174.3
8.5
52%
0.2
RU
P
Polyus PJSC
LSE:PLZL
19 448.7
N/A N/A
ZA
G
Gold Fields Ltd
JSE:GFI
Not Available
17%
N/A
ZA
H
Harmony Gold Mining Company Ltd
JSE:HAR
Not Available
27%
N/A
CN
Zijin Mining Group Co Ltd
SSE:601899
11.3
26%
0.4
CA
Agnico Eagle Mines Ltd
TSX:AEM
11.5
9%
1.3
US
Newmont Corporation
NYSE:NEM
6.8
6%
1.1
CA
Wheaton Precious Metals Corp
TSX:WPM
39.9
18%
2.2
CA
Barrick Gold Corp
TSX:ABX
5.2
16%
0.3
CA
Franco-Nevada Corp
TSX:FNV
30.7
17%
1.8
RU
Polyus PAO
MOEX:PLZL
6.3
N/A N/A
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
AU
West African Resources Ltd
ASX:WAF
Average EV/EBIT: 2 496.8
8.5
40%
0.2
RU
P
Polyus PJSC
LSE:PLZL
22 318.7
N/A N/A
ZA
G
Gold Fields Ltd
JSE:GFI
Not Available
18%
N/A
ZA
H
Harmony Gold Mining Company Ltd
JSE:HAR
Not Available
34%
N/A
CN
Zijin Mining Group Co Ltd
SSE:601899
11.3
19%
0.6
CA
Agnico Eagle Mines Ltd
TSX:AEM
16.3
12%
1.4
US
Newmont Corporation
NYSE:NEM
9.3
7%
1.3
CA
Wheaton Precious Metals Corp
TSX:WPM
53.7
16%
3.4
CA
Barrick Gold Corp
TSX:ABX
7.2
14%
0.5
CA
Franco-Nevada Corp
TSX:FNV
39.7
14%
2.8
RU
Polyus PAO
MOEX:PLZL
7
N/A N/A

See Also

Summary
WAF intrinsic value, competitors valuation, and company profile.
DCF Valuation
WAF stock valuation using Discount Cash Flow valuation method.
Relative Valuation
WAF stock valuation using valuation multiples.
Wall Street Estimates
WAF price targets and financial estimates made by Wall st analysts.
Profitability Analysis
Detailed analysis of the company's profitability.
Solvency Analysis
Analysis of the financial position and solvency of the company.
Financials
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
WAF stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall Street Estimates
Profitability Analysis
Solvency Analysis
Financials
Discount Rate
Discover More
Back to Top
ALPHA SPREAD
Follow us
Join more than 259,700+ value investors using Alpha Spread
Create Free Account
or see our plans & pricing

Company

About Us Careers Pricing Affiliate Program Terms of Service Privacy Policy

Help

What is Intrinsic Value? Help Center Contact Us

Tools

Stock Screener Intrinsic Value Calculator DCF Value Calculator Discount Rate Calculator

Stocks

Most Undervalued Stocks Wide Economic Moat Stocks High Profitability Stocks High Solvency Stocks Most Popular Stocks

© 2025 Alpha Spread Limited. All Rights Reserved.

www.alphaspread.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on www.alphaspread.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. In no event shall Alpha Spread Limited be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on www.alphaspread.com, or relating to the use of, or inability to use, www.alphaspread.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance.