HBMNYSEMetal MiningFiscal year ends December 31
Hudbay Minerals Inc.
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 40-F on Mar 27, 2026
$23.92+0.30 (+1.27%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- 16.6
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2015 to 2025
Gross margin
33.6%+30.0 pts over 5 years
Operating margin
41.5%+44.9 pts over 5 years
Net margin
25.7%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +9.4% | +14.8% | +15.1% | – | |
| Gross profit | +34.2% | +39.0% | +80.3% | – | |
| Operating income | +129.0% | +62.3% | – | – | |
| Net income | +641.2% | +100.6% | – | – | |
| EPS, diluted | +620.0% | +74.7% | – | – | |
| Free cash flow | -24.6% | +10.4% | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 19.7% | |
| Return on assets | – | – | 9.7% | |
| Current ratio | 1.30 | 1.68 | 0.95 | |
| Debt to equity | – | – | 0.31 | |
| Net debt to EBITDA | 2.31× | 2.13× | 0.32× | |
| Interest coverage | 1.0× | -0.4× | 15.1× | |
| Inventory turnover | – | 7.5× | 7.4× | |
| Capex to revenue | 17.1% | 33.1% | 21.1% | |
| Diluted shares | 236M | 261M | 397M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Hudbay Minerals generated $2.72B from operations and spent $1.78B on capital expenditure, dividends and share buybacks. 99% of that went back into the business.
Generated
$2.72B
Used
$1.78B
Capital expenditure$1.76B99%Dividends$23.79M1%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin25.7%
×Asset turnover0.38×
×Equity multiplier2.02×
=Return on equity, FY202519.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 25.7% | 0.38× | 2.02× | 19.7% |
| FY2024 | 3.8% | 0.37× | 2.32× | 3.3% |
| FY2023 | 3.9% | 0.35× | 2.63× | 3.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$568.50M
- Cash generatingOperating cash flow above zero$707.30M
- Return on assets improvedROA up on the prior year1.4% → 10.4%
- Earnings backed by cashOperating cash flow above net income$707.30M vs $568.50M
- Less leverageLong-term debt to assets fell20.2% → 8.6%
- Better liquidityCurrent ratio rose1.95 → 0.95
- No dilutionShare count did not rise377M → 397M
- Gross margin improvedGross margin up on the prior year27.40% → 33.61%
- More efficientAsset turnover rose0.38 → 0.40