Frontierby eninvs

Language: EN · RU

← Region

First Majestic Silver (AG) USD

At a glance: strengths & risks
✓Revenue growing (+124%)✓Margins improving (22%→53%)✓Net cash balance sheet

Sector: Silver mining

Geography: Mexico, USA

COMM_AG

Price chart

16.45 USDDay -4.97%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
16.45 USD · -4.97%
Market cap
7.9 bn USD

Growth

Δ revenue y/y
95.5%
Δ EBITDA y/y
190.5%

Multiples

P/E (LTM)
25.1x
P/B (FY)
2.9x
P/E (ann.)
13.4x
EV/EBITDA (LTM)
8.7x
EV/EBITDA (ann.)
6.2x

Cash return

Dividend yield
0.2%
FCF yield (LTM)
6.9%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-63.8%
↓ details

Liquidity

Daily turnover (listing)
151.3 mln USD

Shares: yahoo_fundamentals_timeseries/AG

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-03-31Q1 2026 (3M)OK480.9
y/y 95.5%
236.0
y/y 523.1%
56.4
y/y -10.1%
292.4
y/y 190.5%
147.5
y/y 2263.6%
236.5-47.54819.6
y/y 19.5%
2895.3
y/y 19.5%
20.9%-687.8Link
2025-12-31Q4 2025 (3M)PARTIAL467.7
y/y 172.0%
210.3
y/y 622.1%
72.8
y/y 102.7%
283.0
y/y 335.3%
83.1
y/y 714.0%
267.9-47.44694.9
y/y 137.1%
2761.0
y/y 104.4%
7.9%-484.7Link
2025-09-30Q3 2025 (3M)OK286.7
y/y 95.1%
78.8
y/y 1801.8%
55.2
y/y 71.1%
134.0
y/y 268.3%
27.0
y/y —
112.5-57.34235.5
y/y 114.2%
2599.5
y/y 88.7%
1.4%-198.5Link
2025-06-30Q2 2025 (3M)OK264.7
y/y 94.5%
39.5
y/y —
74.1
y/y 131.6%
113.5
y/y 542.9%
56.6
y/y —
90.1-49.54094.0
y/y 106.1%
2497.0
y/y 81.8%
9.2%-150.6Link
2025-03-31Q1 2025 (3M)OK246.0
y/y 133.1%
37.9
y/y —
62.8
y/y 120.3%
100.6
y/y 1638.8%
6.2
y/y —
55.5-61.44033.7
y/y 106.5%
2422.7
y/y 81.0%
1.3%-140.0Link
2024-12-31Q4 2024 (3M)OK171.9
y/y 24.9%
29.1
y/y 124.8%
35.9
y/y 19.6%
65.0
y/y 174.4%
-13.5
y/y -232.3%
94.3-24.51979.8
y/y 0.2%
1351.1
y/y -0.5%
-7.5%6.9Link
2024-09-30Q3 2024 (3M)OK147.0
y/y 9.9%
4.1
y/y —
32.3
y/y 13.7%
36.4
y/y 255.8%
-26.6
y/y —
41.0-33.01977.5
y/y 1.3%
1377.3
y/y 2.8%
-2.6%78.4Link
2024-06-30Q2 2024 (3M)OK136.1
y/y -7.6%
-14.3
y/y —
32.0
y/y -3.0%
17.7
y/y 25.0%
-48.3
y/y —
5.0-27.01986.7
y/y -1.4%
1373.8
y/y -0.2%
-14.2%103.5Link
2024-03-31Q1 2024 (3M)OK105.5
y/y -33.0%
-22.7
y/y —
28.5
y/y -18.2%
5.8
y/y -44.4%
-13.5
y/y —
11.6-30.91953.7
y/y -1.5%
1338.6
y/y 0.6%
-4.0%137.3Link
2023-12-31Q4 2023 (3M)OK137.7
y/y —
-117.4
y/y —
30.0
y/y —
-87.4
y/y —
10.2
y/y —
12.7-28.21976.4
y/y —
1358.1
y/y —
-10.0%93.8Link
2023-09-30Q3 2023 (3M)OK133.8
y/y —
-18.1
y/y —
28.4
y/y —
10.2
y/y —
-27.1
y/y —
20.0-33.51952.4
y/y —
1339.6
y/y —
-2.7%116.9Link
2023-06-30Q2 2023 (3M)OK147.3
y/y —
-18.9
y/y —
33.0
y/y —
14.1
y/y —
-17.5
y/y —
20.4-37.42014.0
y/y —
1376.3
y/y —
-5.2%94.6Link
2023-03-31Q1 2023 (3M)OK157.6
y/y —
-24.4
y/y —
34.8
y/y —
10.4
y/y —
-100.7
y/y —
-4.7-49.41983.6
y/y —
1330.6
y/y —
—150.3Link

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

-20002004002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-100%0%100%200%300%2023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-10001002002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

-800-600-400-20002002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Silver

Proved reserves
122.50 mln silver ounces eq.
2024
Reserve life (R/P)
5.3 yrs
reserves ÷ annual output
Annual production
23.22 mln silver ounces eq.
2025

Production, mln silver ounces eq.

20.38202131.25202226.87202313.14202423.2220251.552026

Proved reserves

YearReserves, mln silver ounces eq.
2024122.50
2022136.80
2021177.40
202062.20

Production

YearProduction, mln silver ounces eq.per day
20261.55 * (3M)
−79.9%		16 938
202523.22
+76.7%		63 603
202413.14
−51.1%		35 992
202326.87
−14.0%		73 629
202231.2585 624
202120.38 * (3M)223 179

* partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Key-commodity price — Silver

Current 58spot vs LTM -8%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -63.8% ▼ -1.0 pp 1d

Main driver: Silver -8% vs LTM; revenue ×0.93 vs costs ×1.04; EBITDA 876→563; at 10.3× EV/EBITDA → -64%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Silver (rev)+70%57.6462.8341.56-8%-34%
Gold (rev)+30%4 050.274 246.023 189.61-5%-25%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue1 500
LTM EBITDA876
LTM cash costs (revenue − EBITDA)624
2 · Revenue projection
Revenue multiplier — spot×0.928 (-7%)
= Spot revenue1 393
Revenue multiplier — 3y price×0.688 (-31%)
= 3-year-price revenue1 033
3 · Costs projection
Cost multiplier — spot×1.040 (+4%)
= Spot cash costs649
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs649
4 · EBITDA projection (revenue − costs)
= Spot EBITDA743
= 3-year-price EBITDA383
Conservative EBITDA = min(spot, avg)563
5 · Valuation → target market cap
Historical EV/EBITDA (75th pct)10.3x
Target EV = EV/EBITDA × conservative EBITDA5 817
Net debt-688
Target market cap = EV − net debt6 662
Current market cap7 889

Upside = target market cap ÷ current − 1 = -63.8%

Life of mine: 5 yrs — before haircut -15.5%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q2147176-16.3%1429-50.9%
2023 Q3134165-19.1%1013-22.3%
2023 Q4138152-9.2%-874-2343.5%
2024 Q1106147-28.2%6-14—
2024 Q2136157-13.5%188+109.6%
2024 Q3147153-3.9%368+372.1%
2024 Q4172158+9.0%6516+312.5%
2025 Q1246162+51.8%10150+99.9%
2025 Q2265202+31.1%11479+44.6%
2025 Q3287258+11.2%134126+6.4%
2025 Q4468370+26.4%336227+47.6%
2026 Q1481588-18.1%292439-33.3%

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +124% vs -3% the year before — a +127.0 pp move. 3-year CAGR +26%.
revenue growth by year: 2023 -8% · 2024 -3% · 2025 +124%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 2.7x · target 75th pct (3y) 47.1x · LTM avg 10.3x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-05-200.017 USDEx-dividend: 0.017 USD per sharePaidYahoo Finance (ex-div)
2026-02-270.008 USDEx-dividend: 0.008 USD per sharePaidYahoo Finance (ex-div)
2025-05-160.005 USDEx-dividend: 0.005 USD per sharePaidYahoo Finance (ex-div)
2025-02-280.006 USDEx-dividend: 0.006 USD per sharePaidYahoo Finance (ex-div)
2024-11-150.005 USDEx-dividend: 0.005 USD per sharePaidYahoo Finance (ex-div)
2024-08-160.005 USDEx-dividend: 0.005 USD per sharePaidYahoo Finance (ex-div)
2024-05-160.004 USDEx-dividend: 0.004 USD per sharePaidYahoo Finance (ex-div)
2024-03-130.005 USDEx-dividend: 0.005 USD per sharePaidYahoo Finance (ex-div)
2023-11-140.005 USDEx-dividend: 0.005 USD per sharePaidYahoo Finance (ex-div)
2023-08-150.005 USDEx-dividend: 0.005 USD per sharePaidYahoo Finance (ex-div)
2023-05-170.006 USDEx-dividend: 0.006 USD per sharePaidYahoo Finance (ex-div)
2023-03-090.005 USDEx-dividend: 0.005 USD per sharePaidYahoo Finance (ex-div)
2022-11-210.006 USDEx-dividend: 0.006 USD per sharePaidYahoo Finance (ex-div)
2022-08-150.006 USDEx-dividend: 0.006 USD per sharePaidYahoo Finance (ex-div)
2022-05-240.006 USDEx-dividend: 0.006 USD per sharePaidYahoo Finance (ex-div)
2022-03-180.008 USDEx-dividend: 0.008 USD per sharePaidYahoo Finance (ex-div)
2021-11-160.005 USDEx-dividend: 0.005 USD per sharePaidYahoo Finance (ex-div)
2021-08-250.006 USDEx-dividend: 0.006 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of First Majestic Silver (AG) — from primary filings.

First Majestic Silver Corp. acquires, explores, develops, and produces silver and gold from mineral properties in North America, primarily in Mexico.

Frequently asked questions

What is First Majestic Silver (AG)'s P/E ratio?
First Majestic Silver (AG) trades at a P/E of 25.1x (price to trailing 12-month earnings).
What is First Majestic Silver (AG)'s EV/EBITDA?
First Majestic Silver (AG) trades at 8.7x EV/EBITDA.
What is First Majestic Silver (AG)'s P/B ratio?
First Majestic Silver (AG) trades at a P/B of 2.9x.
What is First Majestic Silver (AG)'s dividend yield?
First Majestic Silver (AG)'s trailing 12-month dividend yield is 0.2%.
What is First Majestic Silver (AG)'s return on equity (ROE)?
First Majestic Silver (AG)'s ROE is 20.9%.
What is First Majestic Silver (AG)'s market capitalization?
First Majestic Silver (AG)'s market cap is 7.9 bn USD.