HL vs TFPM: Hecla Mining and Triple Flag Precious Metals compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Hecla Mining is the larger company, worth $8.9B, about 1.6 times Triple Flag Precious Metals.
- Hecla Mining grew revenue faster over the last year (+52.5% vs +44.5%).
- Triple Flag Precious Metals keeps more of each dollar of revenue as operating profit (56.8% vs 46.0%).
- On earnings, Hecla Mining is the cheaper stock (19.2x vs 25.5x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | HL | TFPM |
|---|---|---|
| Market cap | $8.9B | $5.5B |
| Share price | $17.07 | $30.13 |
| Revenue (last fiscal year) | $1.4B | $389M |
| Free cash flow (last fiscal year) | $310M | — |
| Revenue growth, last year | +52.5% | +44.5% |
| Revenue growth per year, last 5 fiscal years | +15.2% | +26.8% |
| Operating margin | 46.0% | 56.8% |
| Net margin | 20.8% | 61.7% |
| Return on equity | 12.5% | 13.3% |
| P/E (trailing) | 19.2x | 25.5x |
| Price / free cash flow | 28.7x | 59.8x |
| EV / EBITDA | 10.5x | 15.6x |
| FCF growth the price implies | 9.7% | — |
| Dividend yield | 0.11% | 0.84% |
| Debt / equity | 0.19x | 0.02x |
| Fundamental grade | A | B |
| Superinvestors holding it | 3 | 0 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Hecla Mining
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $807M | $111M | 10.3% |
| 2022 | $719M | -$59M | -1.7% |
| 2023 | $720M | -$148M | -6.2% |
| 2024 | $930M | $4M | 11.4% |
| 2025 | $1.4B | $310M | 36.2% |
Triple Flag Precious Metals
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $150M | — | 45.7% |
| 2022 | $152M | — | 42.2% |
| 2023 | $204M | — | 20.1% |
| 2024 | $269M | — | -6.7% |
| 2025 | $389M | — | 56.8% |
Where the revenue comes from
Hecla Mining · by segments, 2023
Greens Creek$385M53%
Casa Berardi$178M25%
Lucky Friday$116M16%
Keno Hill$36M5%
Other Segments$5M1%
Nevada Operations$960,0000%
Triple Flag Precious Metals · by regions, 2025
Australia$146M38%
Peru$93M24%
Other Latin America$53M14%
Africa and Asia$50M13%
United States$30M8%
Canada$16M4%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open HL in InvestinglyQuestions
Which is bigger, Hecla Mining or Triple Flag Precious Metals?
Hecla Mining (HL), at $8.9B against $5.5B.
Is HL or TFPM cheaper?
By trailing P/E, Hecla Mining (19.2x) is cheaper than Triple Flag Precious Metals (25.5x). A lower multiple can also mean the market expects less growth.
Which grows faster, HL or TFPM?
Hecla Mining: revenue grew +52.5% over the last year, against +44.5%.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.