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FIRST MAJESTIC SILVER CORP (AG) financial health, profit and balance sheet · Scorvest

AG · NYSE · United States · Gold And Silver Ores

FIRST MAJESTIC SILVER CORP

Vancouver · Fiscal year ends in December · Figures in USD

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In shortFIRST MAJESTIC SILVER CORP is profitable, generates cash and holds more cash than debt, with revenue growing (+124.3% last year).

Financial health

Solid

Built from five areas over the last five annual reports. Tap an area to see the figures behind it.

How is this score calculated? →

Profitability65

Operating marginShare of each sale left after running the business, before interest and tax.	31.6%	100/100
Net marginShare of each sale left as profit after every cost, interest and tax.	13.1%	72/100
Return on equityProfit earned on the money shareholders put in. Above 15% is strong.	8.0%	40/100
Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge.	6.9%	46/100

Weight in the score: 25%

Balance sheet90

Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash.	2.60×	100/100
Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted.	0.11×	100/100
Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable.	Net cash	100/100
Interest coverageHow many times operating profit covers interest. Below 2 is risky.	15.14×	100/100
Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress.	3.11	51/100

Weight in the score: 25%

Cash generation92

Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt.	36.9%	100/100
Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy.	2.81×	100/100
Years with positive free cash flow (last 5)	4 of 5	75/100

Weight in the score: 20%

Stability13
Profitable years (last 5) 1 of 5 20/100
Years of revenue decline (last 5) 2 of 5 33/100
Revenue growth volatility 56.2% 0/100
Operating margin volatility 22.8% 0/100
Weight in the score: 20%
Growth100
Revenue growth, 3-year average 26.3% 100/100
EPS growth, 3-year average – n/a
Weight in the score: 10%

Profitable years (last 5)	1 of 5	20/100
Years of revenue decline (last 5)	2 of 5	33/100
Revenue growth volatility	56.2%	0/100
Operating margin volatility	22.8%	0/100

Revenue growth, 3-year average	26.3%	100/100
EPS growth, 3-year average	–	n/a

Fiscal year 2025 · change vs prior year

Revenue: $1.3B; ▲ 124.3%
Net income: $164.9M; ▲ 261.9%
Free cash flow: $463.9M; ▲ 251.6%
Operating margin: 31.6%; +32.3 pts
Cash & investments: $793.4M; –
Total debt: $292.2M; ▲ 39.5%
Diluted EPS: $0.34; ▲ 200.0%
Return on equity: 8.0%; –

Trends

Annual figures as reported. Hover a bar or point for the exact value.

5 older years available with the 10-year history. Essential plan, from €8.25/month →

Revenue and net income

RevenueNet income

Margins

Statements

The last 5 fiscal years from the company's annual reports.

USD millions; negative values in parentheses.

Fiscal year	FY21	FY22	FY23	FY24	FY25
Revenue	584	624	574	561	1,257
Cost of revenue	366	472	410	345	544
Gross profit	218	153	164	216	713
Selling, general & admin	27	36	39	40	50
Operating income	49	(39)	(179)	(3.8)	397
Interest expense	21	20	26	28	26
Pre-tax income	25	(61)	(196)	(26)	395
Income tax	30	53	(61)	75	184
Net income	(4.9)	(114)	(135)	(102)	165
Diluted EPS	−$0.02	−$0.43	−$0.48	−$0.34	$0.34
Diluted shares (millions)	245	263	282	296	485

5 older years available with the 10-year history. Essential plan, from €8.25/month →

Risk checks

Altman Z'' score

3.11 Safe zone

Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.

Piotroski F-score

7/9

Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.

Positive net income: passed
Positive operating cash flow: passed
Return on assets improved: passed
Cash flow exceeds net income: passed
Long-term debt ratio fell: passed
Current ratio improved: passed
No share dilution: failed
Gross margin improved: passed
Asset turnover improved: failed

Sources

40-FPeriod ending Dec 31, 2025Filed Mar 31, 2026Open the report ↗
40-FPeriod ending Dec 31, 2024Filed Apr 1, 2025Open the report ↗
40-FPeriod ending Dec 31, 2023Filed Apr 2, 2024Open the report ↗
40-FPeriod ending Dec 31, 2022Filed Mar 31, 2023Open the report ↗
40-FPeriod ending Dec 31, 2021Filed Mar 31, 2022Open the report ↗
40-FPeriod ending Dec 31, 2020Filed Mar 31, 2021Open the report ↗
40-FPeriod ending Dec 31, 2019Filed Mar 30, 2020Open the report ↗
40-FPeriod ending Dec 31, 2018Filed Mar 29, 2019Open the report ↗