Steppe GoldTSX:STGO -4.48%77 FCF Margin % is 34.17% as of Mar. 2026, which is 9% above its 10-year median of 31.39. GuruFocus rates TSX:STGO with a GF Score™ of 77/100 and a GF Value™ of C$1.07 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 847 Metals & Mining companies, Steppe Gold ranks better than 96.1% on this metric.
FCF Margin % is calculated as Free Cash Flow divided by its Revenue. Steppe Gold's Free Cash Flow for the
three
months ended in Mar. 2026 was C$24.9 Mil. Steppe Gold's Revenue for the
three
months ended in Mar. 2026 was C$73.0 Mil. Therefore, Steppe Gold's FCF Margin % for the quarter that ended in Mar. 2026 was 34.17%.
The historical rank and industry rank for Steppe Gold's FCF Margin % or its related term are showing as below:
TSX:STGO'
s FCF Margin % Range Over the Past 10 Years
Min: -66.34 Med: 31.39 Max: 46.75
Current: 40.81
During the past 10 years, the highest FCF Margin % of Steppe Gold was 46.75%. The lowest was -66.34%. And the median was 31.39%.
TSX:STGO's FCF Margin % is ranked better than 96.1% of 847
companies
in the Metals & Mining industry
Industry Median: -2.17
vs TSX:STGO: 40.81
Steppe Gold FCF Margin % Related Terms
Steppe Gold FCF Margin % Historical Data
* Premium members only.
The historical data trend for Steppe Gold's FCF Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Gold subindustry, Steppe Gold's FCF Margin %, along with its competitors' market caps and FCF Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Steppe Gold FCF Margin % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Steppe Gold's FCF Margin % distribution charts can be found below:
* The bar in red indicates where Steppe Gold's FCF Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Steppe Gold (TSX:STGO) has a FCF Margin % of 34.17% as of Mar. 2026. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on Steppe Gold and its competitors. This is near median its historical median of 31.39. According to the industry distribution chart, Steppe Gold ranks #33 out of 847 companies in the Metals & Mining industry, placing it in the top 3.9%.
Is Steppe Gold's FCF Margin % too high?
Steppe Gold's current FCF Margin % of 34.17% is near median its 10-year median of 31.39. Based on the distribution chart, Steppe Gold ranks #33 out of 847 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Steppe Gold has a GF Score™ of 77/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Steppe Gold's FCF Margin % compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Steppe Gold ranks #33 out of 847 companies for FCF Margin %. This places Steppe Gold in the top 4% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good FCF Margin % for a Metals & Mining company?
A good FCF Margin % depends on the Metals & Mining industry context. However, FCF Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high FCF Margin % mean?
A high FCF Margin % can signal that a stock is expensive relative to its fundamentals. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on Steppe Gold and its competitors. Steppe Gold's current FCF Margin % is 34.17%, which is near median its own 10-year median of 31.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Steppe Gold stock overvalued right now?
Based on GuruFocus' analysis, Steppe Gold (TSX:STGO) is currently considered Modestly Overvalued. The stock's GF Value™ is C$1.07, compared to a current price of C$1.28 — trading 19.6% above its estimated fair value. The current FCF Margin % is 34.17%, which is near median its 10-year median of 31.39. Steppe Gold's overall GF Score™ is 77/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is FCF Margin % calculated?
FCF Margin % is calculated from a company's financial statements. For Steppe Gold (TSX:STGO), the current FCF Margin % is 34.17% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Steppe Gold (TSX:STGO) Overvalued in 2026?
Based on GuruFocus' analysis, Steppe Gold stock appears to be overvalued.
The current stock price of C$1.28 is trading 19.6% above its estimated GF Value™ of C$1.07.
GuruFocus considers Steppe Gold to be Modestly Overvalued.
Key valuation signals for TSX:STGO:
FCF Margin %: 34.17% (near median its 10-year median of 31.39)
GF Value™: C$1.07 vs. price of C$1.28 (19.6% above fair value)
No single metric tells the full story. See the TSX:STGO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Steppe Gold Ltd is engaged in operating, developing, exploring, and acquiring precious metal projects in Mongolia. The company's commercially producing mine is the Altan Tsagaan Ovoo Property (the ATO Project, or ATO Gold Mine), located in Eastern Mongolia. In addition, it owns the Boroo and Ulaanbulag mines (together as the Boroo Project), and holds interest rights in the Uudam Khundii (UK) project in Mongolia. The company derives its revenue from the sale of gold and silver to banks in Mongolia at London Metal Exchange-based spot rates. A majority of its revenue is generated from the sale of gold.
77GF Score
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