AGNYSEGold and Silver OresFiscal year ends December 31
FIRST MAJESTIC SILVER CORP
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 40-F on Mar 31, 2026
$15.98+0.00 (0.00%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- 47.0
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2015 to 2025
Gross margin
56.8%+10.2 pts over 5 years
Operating margin
31.6%+20.5 pts over 5 years
Net margin
13.1%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +124.3% | +26.3% | +28.1% | – | |
| Gross profit | +230.5% | +67.2% | +33.3% | – | |
| Operating income | – | – | +58.0% | – | |
| EPS, diluted | – | – | +25.3% | – | |
| Free cash flow | +251.6% | – | +66.4% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on assets | – | – | 4.9% | |
| Current ratio | 3.64 | 3.50 | 2.60 | |
| Debt to equity | – | – | 0.11 | |
| Net debt to EBITDA | -0.78× | -0.89× | -0.76× | |
| Interest coverage | 3.5× | 2.7× | 15.1× | |
| Inventory turnover | – | 6.2× | 7.4× | |
| Capex to revenue | 6.7% | 11.9% | 4.9% | |
| Diluted shares | 164M | 216M | 485M |
Where the cash went
Fiscal 2021 to 2025, five years combined
First Majestic Silver generated $821.31M from operations and spent $262.17M on capital expenditure, dividends and share buybacks. 88% of that went back into the business.
Generated
$821.31M
Used
$262.17M
Capital expenditure$230.37M88%Dividends$31.80M12%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin13.1%
×Asset turnover0.38×
×Equity multiplier1.62×
=Return on equity, FY20258.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 13.1% | 0.38× | 1.62× | 8.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
8of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$164.92M
- Cash generatingOperating cash flow above zero$526.01M
- Return on assets improvedROA up on the prior year-5.2% → 8.3%
- Earnings backed by cashOperating cash flow above net income$526.01M vs $164.92M
- Less leverageLong-term debt to assets fell10.5% → 6.2%
- Better liquidityCurrent ratio rose2.56 → 2.60
- No dilutionShare count did not rise296M → 485M
- Gross margin improvedGross margin up on the prior year38.51% → 56.75%
- More efficientAsset turnover rose0.28 → 0.63