Mining company's comps
In practice, do you calculate your own multiple value or rely on database? E.g. you just identified a comps list of 20 mines, next step is to get P/NAV. If we're going ahead to calculate it for every company directly (Cashflow-->NPV-->Balancesheet adjustment-->NAV), woudln't it be too time consuming?
or the mining company's income statement has a line called Nav/share just like EPS?
If you're trying to compare the P/NAV multiples for a set of mining comps, then yes, modeling out the NAV for each company is very time consuming. An alternative is to compile equity research NAV values for each comp, use the average/median of the range as your 'research consensus NAV' for that comp, and then calculate the P/NAV using the share price. Repeat for each comp in your list.
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