AngloGold Ashanti plc vs RIO TINTO PLC, two Mining stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
The margin comparison crosses metals: AngloGold Ashanti nets 32.1% of revenue mining gold, Rio Tinto 17.8% mining iron ore and copper, the monetary metal currently paying nearly double per revenue dollar. The multiples ignore the gap, 15.7 and 15.3 times, effectively one price for two different commodity exposures. Free-cash yields nearly tie, 11.5% and 11.1%, remarkable cash conversion on both pages. Returns on equity favor gold, 32% against 15.3%. Both are debt-free. The pair prices an allocation choice as a coin flip: same multiple, same yield, different metal; the buyer's macro view is the only variable left, which is either liberating or damning depending on the buyer.
Comparison updated 2026-07-10.
| Metric | AU | RIO |
|---|---|---|
| Price | $81.56 | $93.73 |
| Market cap | $41.5B | $152.2B |
| Sector | Mining | Mining |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | — | -3.8% |
| P/E | 15.7 | 15.3 |
| P/B | 4.18 | 2.27 |
| P/S | 4.19 | 2.64 |
| EV/EBITDA | — | 9.6 |
| Revenue growth | +27.7% | -2.4% |
| Gross margin | 49.2% | — |
| Operating margin | — | 25.9% |
| Net margin | 32.1% | 17.8% |
| Return on equity | 32.0% | 15.3% |
| Return on assets | 21.1% | 8.0% |
| Return on invested capital | — | 15.7% |
| FCF yield | 11.5% | 11.1% |
| Debt / equity | 0.00 | 0.00 |
| Current ratio | 2.87 | 1.44 |
| Altman Z (solvency) | 5.72 | 2.90 |
| Piotroski F (quality) | 8 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.