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FIRST MAJESTIC SILVER CORP (FMV.DE) Stock Fundamental Analysis

FRA:FMV - Deutsche Boerse Ag - CA32076V1031 - Common Stock - Currency: EUR

7.792  +0.58 (+8.04%)

Fundamental Rating

4

Taking everything into account, FMV scores 4 out of 10 in our fundamental rating. FMV was compared to 37 industry peers in the Metals & Mining industry. While FMV seems to be doing ok healthwise, there are quite some concerns on its profitability. FMV is valued quite expensively, but it does show have an excellent growth rating.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

FMV had negative earnings in the past year.
In the past year FMV had a positive cash flow from operations.
FMV had negative earnings in 4 of the past 5 years.
Each year in the past 5 years FMV had a positive operating cash flow.
FMV.DE Yearly Net Income VS EBIT VS OCF VS FCFFMV.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M -100M -200M

1.2 Ratios

FMV has a Return On Assets of -2.03%. This is in the lower half of the industry: FMV underperforms 67.57% of its industry peers.
With a Return On Equity value of -3.39%, FMV is not doing good in the industry: 67.57% of the companies in the same industry are doing better.
FMV has a Return On Invested Capital of 1.43%. This is in the lower half of the industry: FMV underperforms 64.86% of its industry peers.
Industry RankSector Rank
ROA -2.03%
ROE -3.39%
ROIC 1.43%
ROA(3y)-5.8%
ROA(5y)-3.15%
ROE(3y)-8.53%
ROE(5y)-4.64%
ROIC(3y)N/A
ROIC(5y)N/A
FMV.DE Yearly ROA, ROE, ROICFMV.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -10 -20 -30

1.3 Margins

Looking at the Operating Margin, with a value of 11.16%, FMV is in the better half of the industry, outperforming 62.16% of the companies in the same industry.
FMV's Operating Margin has declined in the last couple of years.
The Gross Margin of FMV (22.59%) is comparable to the rest of the industry.
In the last couple of years the Gross Margin of FMV has declined.
Industry RankSector Rank
OM 11.16%
PM (TTM) N/A
GM 22.59%
OM growth 3Y-29.38%
OM growth 5Y-16.12%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.28%
GM growth 5Y-14.71%
FMV.DE Yearly Profit, Operating, Gross MarginsFMV.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 -40 -60

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6

2. Health

2.1 Basic Checks

FMV has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, FMV has more shares outstanding
The number of shares outstanding for FMV has been increased compared to 5 years ago.
FMV has a better debt/assets ratio than last year.
FMV.DE Yearly Shares OutstandingFMV.DE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M
FMV.DE Yearly Total Debt VS Total AssetsFMV.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

2.2 Solvency

FMV has an Altman-Z score of 1.68. This is a bad value and indicates that FMV is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.68, FMV is in line with its industry, outperforming 40.54% of the companies in the same industry.
FMV has a debt to FCF ratio of 4.34. This is a neutral value as FMV would need 4.34 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 4.34, FMV is in the better half of the industry, outperforming 72.97% of the companies in the same industry.
FMV has a Debt/Equity ratio of 0.09. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.09, FMV belongs to the top of the industry, outperforming 81.08% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.09
Debt/FCF 4.34
Altman-Z 1.68
ROIC/WACC0.17
WACC8.54%
FMV.DE Yearly LT Debt VS Equity VS FCFFMV.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B

2.3 Liquidity

A Current Ratio of 3.19 indicates that FMV has no problem at all paying its short term obligations.
FMV has a better Current ratio (3.19) than 89.19% of its industry peers.
FMV has a Quick Ratio of 2.74. This indicates that FMV is financially healthy and has no problem in meeting its short term obligations.
FMV has a Quick ratio of 2.74. This is amongst the best in the industry. FMV outperforms 89.19% of its industry peers.
Industry RankSector Rank
Current Ratio 3.19
Quick Ratio 2.74
FMV.DE Yearly Current Assets VS Current LiabilitesFMV.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

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7

3. Growth

3.1 Past

FMV shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 86.67%, which is quite impressive.
The Revenue has grown by 33.60% in the past year. This is a very strong growth!
FMV shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.02% yearly.
EPS 1Y (TTM)86.67%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%183.33%
Revenue 1Y (TTM)33.6%
Revenue growth 3Y-1.36%
Revenue growth 5Y9.02%
Sales Q2Q%130.1%

3.2 Future

FMV is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 34.89% yearly.
The Revenue is expected to grow by 25.00% on average over the next years. This is a very strong growth
EPS Next Y312.34%
EPS Next 2Y107.31%
EPS Next 3Y63.08%
EPS Next 5Y34.89%
Revenue Next Year67.86%
Revenue Next 2Y35.49%
Revenue Next 3Y25%
Revenue Next 5YN/A

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
FMV.DE Yearly Revenue VS EstimatesFMV.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M 800M 1B
FMV.DE Yearly EPS VS EstimatesFMV.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0 0.1 -0.1 0.2 -0.2 0.3

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2

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for FMV. In the last year negative earnings were reported.
Based on the Price/Forward Earnings ratio of 30.54, the valuation of FMV can be described as expensive.
Compared to the rest of the industry, the Price/Forward Earnings ratio of FMV indicates a slightly more expensive valuation: FMV is more expensive than 64.86% of the companies listed in the same industry.
FMV is valuated rather expensively when we compare the Price/Forward Earnings ratio to 21.76, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE N/A
Fwd PE 30.54
FMV.DE Price Earnings VS Forward Price EarningsFMV.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 -100 -200 -300

4.2 Price Multiples

FMV's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. FMV is more expensive than 70.27% of the companies in the same industry.
62.16% of the companies in the same industry are cheaper than FMV, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 81.7
EV/EBITDA 16.03
FMV.DE Per share dataFMV.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2 3 4

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
FMV's earnings are expected to grow with 63.08% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y107.31%
EPS Next 3Y63.08%

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0

5. Dividend

5.1 Amount

FMV has a yearly dividend return of 0.28%, which is pretty low.
FMV's Dividend Yield is slightly below the industry average, which is at 3.16.
With a Dividend Yield of 0.28, FMV pays less dividend than the S&P500 average, which is at 2.37.
Industry RankSector Rank
Dividend Yield 0.28%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

The earnings of FMV are negative and hence is the payout ratio. FMV will probably not be able to sustain this dividend level.
DP-8.13%
EPS Next 2Y107.31%
EPS Next 3Y63.08%
FMV.DE Yearly Income VS Free CF VS DividendFMV.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -50M -100M -150M -200M

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FIRST MAJESTIC SILVER CORP

FRA:FMV (7/11/2025, 7:00:00 PM)

7.792

+0.58 (+8.04%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)05-07 2025-05-07/amc
Earnings (Next)07-31 2025-07-31/amc
Inst Owners53.25%
Inst Owner ChangeN/A
Ins Owners1.03%
Ins Owner ChangeN/A
Market Cap3.77B
Analysts76.92
Price Target7.04 (-9.65%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.28%
Yearly Dividend0.02
Dividend Growth(5Y)N/A
DP-8.13%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-20.4%
Min EPS beat(2)-21.7%
Max EPS beat(2)-19.09%
EPS beat(4)0
Avg EPS beat(4)-121.63%
Min EPS beat(4)-239.81%
Max EPS beat(4)-19.09%
EPS beat(8)2
Avg EPS beat(8)-127.51%
EPS beat(12)3
Avg EPS beat(12)-116.76%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)1.74%
Min Revenue beat(2)-1.73%
Max Revenue beat(2)5.21%
Revenue beat(4)2
Avg Revenue beat(4)2.71%
Min Revenue beat(4)-1.73%
Max Revenue beat(4)7.48%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)4.26%
PT rev (3m)11.98%
EPS NQ rev (1m)25%
EPS NQ rev (3m)48.15%
EPS NY rev (1m)0%
EPS NY rev (3m)11.67%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)3.59%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 30.54
P/S 6.33
P/FCF 81.7
P/OCF 22.65
P/B 1.82
P/tB 1.82
EV/EBITDA 16.03
EPS(TTM)-0.02
EYN/A
EPS(NY)0.26
Fwd EY3.27%
FCF(TTM)0.1
FCFY1.22%
OCF(TTM)0.34
OCFY4.41%
SpS1.23
BVpS4.27
TBVpS4.27
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -2.03%
ROE -3.39%
ROCE 2.02%
ROIC 1.43%
ROICexc 1.6%
ROICexgc 1.6%
OM 11.16%
PM (TTM) N/A
GM 22.59%
FCFM 7.74%
ROA(3y)-5.8%
ROA(5y)-3.15%
ROE(3y)-8.53%
ROE(5y)-4.64%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3Y-32.27%
ROICexcg growth 5Y-22.93%
ROICexc growth 3Y-32.27%
ROICexc growth 5Y-22.93%
OM growth 3Y-29.38%
OM growth 5Y-16.12%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.28%
GM growth 5Y-14.71%
F-Score6
Asset Turnover0.17
Health
Industry RankSector Rank
Debt/Equity 0.09
Debt/FCF 4.34
Debt/EBITDA 0.92
Cap/Depr 86.98%
Cap/Sales 20.18%
Interest Coverage 9.44
Cash Conversion 81.27%
Profit Quality N/A
Current Ratio 3.19
Quick Ratio 2.74
Altman-Z 1.68
F-Score6
WACC8.54%
ROIC/WACC0.17
Cap/Depr(3y)121.95%
Cap/Depr(5y)145.81%
Cap/Sales(3y)26.95%
Cap/Sales(5y)28.93%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)86.67%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%183.33%
EPS Next Y312.34%
EPS Next 2Y107.31%
EPS Next 3Y63.08%
EPS Next 5Y34.89%
Revenue 1Y (TTM)33.6%
Revenue growth 3Y-1.36%
Revenue growth 5Y9.02%
Sales Q2Q%130.1%
Revenue Next Year67.86%
Revenue Next 2Y35.49%
Revenue Next 3Y25%
Revenue Next 5YN/A
EBIT growth 1Y310.13%
EBIT growth 3Y-30.34%
EBIT growth 5Y-8.55%
EBIT Next Year123.2%
EBIT Next 3Y43.87%
EBIT Next 5Y21.44%
FCF growth 1Y126.94%
FCF growth 3YN/A
FCF growth 5Y11.46%
OCF growth 1Y594.47%
OCF growth 3Y30.28%
OCF growth 5Y1.65%