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Ivanhoe Mines (IVN) USD

At a glance: strengths & risks
✓Revenue growing (+58% y/y, Q2 2026)✓Profit growing (+13% y/y, Q2 2026)✓Margins improving (38%→50%, Q2 2026)

Sector: Copper mining

COMM_IVN

Price chart

11.69 CADDay -2.58%

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
11.69 CAD · -2.58%
Market cap
11.8 bn USD

Growth

Δ revenue y/y
57.7%
Δ EBITDA y/y
—

Multiples

P/E (LTM)
44.0x
P/B (FY)
2.0x
P/E (ann.)
59.1x
EV/EBITDA (LTM)
—
EV/EBITDA (ann.)
81.4x

Cash return

Dividend yield
—
FCF yield (LTM)
-7.1%

Liquidity

Daily turnover (listing)
59.4 mln CAD

Shares: connector/market_inputs

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
2026-06-30Q2 2026 (3M)OK152.6
y/y 57.7%
11.2
y/y —
27.0
y/y 81.2%
38.2
y/y —
49.7
y/y 12.9%
45.6-79.27802.6
y/y 15.5%
5983.3
y/y 15.1%
3.4%671.8Yahoo Finance
2026-03-31Q1 2026 (3M)OK165.5
y/y 114.9%
2.0
y/y —
7.0
y/y -51.1%
9.1
y/y —
0.0
y/y -100.0%
-71.3-65.47576.7
y/y 14.8%
5882.4
y/y 14.7%
0.0%593.6Yahoo Finance
2025-12-31Q4 2025 (3M)OK138.4
y/y —
-24.4
y/y —
27.2
y/y —
2.8
y/y —
54.7
y/y —
-41.1-352.87625.8
y/y 32.9%
5904.6
y/y 18.3%
4.7%491.9Yahoo Finance
2025-06-30Q2 2025 (3M)OK96.8
y/y —
-25.9
y/y —
14.9
y/y —
-11.0
y/y —
44.1
y/y —
0.5-87.46754.2
y/y —
5196.3
y/y —
3.4%502.4Yahoo Finance
2025-03-31Q1 2025 (3M)OK77.0
y/y —
-25.4
y/y —
14.4
y/y —
-11.0
y/y —
129.8
y/y —
-55.1-75.36599.1
y/y —
5127.8
y/y —
10.3%398.7Yahoo Finance
2024-12-31FY 2024 (12M)OK40.8
y/y —
-133.0
y/y —
19.7
y/y —
-113.4
y/y —
228.1
y/y —
-152.4-495.45737.6
y/y —
4989.2
y/y —
—256.3Yahoo Finance

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)232
Long-term debt (incl. LT leases)1 054
− Cash & equivalents614
Net debt672

Net debt / LTM EBITDA: 21.3x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

-200-10001002002024 FY2025 q12025 q22025 q42026 q12026 q2

Year-over-year change

0%50%100%2024 FY2025 q12025 q22025 q42026 q12026 q2

Cash flow

FCF ($ mln)

-800-600-400-20002024 FY2025 q12025 q22025 q42026 q12026 q2

Net debt / cash ($ mln)

02004006002024 FY2025 q12025 q22025 q42026 q12026 q2

Operating statistics

Production indicators — supplementary, not part of the financial statements

PeriodC1 cash cost (zinc)
$/lb.		C1 cash cost (copper)
$ per lb.		Copper production
kt		Zinc production
kt
Q2 2026-060.90
−6.2%		2.84
+50.3%		64.19
−41.0%		—
H1 2026-060.88
−6.4%		2.70
+51.7%		135.40
−43.3%		—
Q4 2025-120.86
−23.9%		2.99
+70.9%		69.41
−46.7%		61.44
+90.1%
FY 2025-120.92
−18.6%		2.16
+30.9%		377.69—
Q2 2025-060.961.89108.87—
H1 2025-060.941.78238.60—
Q4 2024-121.131.75130.2832.32
FY 2024-121.131.65——
FY 2023-12——393.55—

Company reports (PLR coverage review 2026-10-01), extracted with DeepSeek and every number checked against the document text: https://www.ivanhoemines.com/wp-content/uploads/20251231-00000-MDA-vF.pdf; https://www.ivanhoemines.com/wp-content/uploads/20260331-IVN_AIF_31-Dec-2025-ABF2.pdf; https://www.ivanhoemines.com/wp-content/uploads/20260630-00000-MDA-vF.pdf; https://www.ivanhoemines.com/wp-content/uploads/20260729-IVN-Q2-Financial-Results-ABF.pdf

Production & Reserves

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

Annual production
377.69 kt
2025

Production, kt

393.552023425.752024377.692025

Production

YearProduction, ktper day, kt
2025377.69
−11.3%		1.03
2024425.75
+8.2%		1.17
2023393.551.08

Company reports: https://www.ivanhoemines.com/wp-content/uploads/20251231-00000-MDA-vF.pdf; https://www.ivanhoemines.com/wp-content/uploads/20260331-IVN_AIF_31-Dec-2025-ABF2.pdf; https://www.ivanhoemines.com/wp-content/uploads/20260630-00000-MDA-vF.pdf; https://www.ivanhoemines.com/wp-content/uploads/20260729-IVN-Q2-Financial-Results-ABF.pdf

Key-commodity price — Copper

Current 14 620spot vs LTM +19%

EV/EBITDA — daily history

Current 62.2x · 3-year 75th pct 66.2x

EV/EBITDA3-year 75th pct

Dividends

No dividend rows found for this issuer (checked: Yahoo Finance (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 Ivanhoe Mines (IVN) — from primary filings.

Frequently asked questions

What is Ivanhoe Mines (IVN)'s P/E ratio?
Ivanhoe Mines (IVN) trades at a P/E of 44.0x (price to trailing 12-month earnings).
What is Ivanhoe Mines (IVN)'s EV/EBITDA?
Ivanhoe Mines (IVN) trades at 394.8x EV/EBITDA.
What is Ivanhoe Mines (IVN)'s P/B ratio?
Ivanhoe Mines (IVN) trades at a P/B of 2.0x.
What is Ivanhoe Mines (IVN)'s return on equity (ROE)?
Ivanhoe Mines (IVN)'s ROE is 3.4%.
What is Ivanhoe Mines (IVN)'s market capitalization?
Ivanhoe Mines (IVN)'s market cap is 11.8 bn USD.

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