Taking everything into account, FSM scores 7 out of 10 in our fundamental rating. FSM was compared to 154 industry peers in the Metals & Mining industry. Both the health and profitability get an excellent rating, making FSM a very profitable company, without any liquidiy or solvency issues. FSM is evaluated to be cheap and growing strongly. This does not happen too often! With these ratings, FSM could be worth investigating further for value and growth and quality investing!.

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1. Profitability

2. Health

3. Growth

4. Valuation

5. Dividend

1. Profitability

1.1 Basic Checks

In the past year FSM was profitable.
In the past year FSM had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: FSM reported negative net income in multiple years.
FSM had a positive operating cash flow in each of the past 5 years.

1.2 Ratios

FSM's Return On Assets of 10.30% is amongst the best of the industry. FSM outperforms 88.96% of its industry peers.
FSM has a better Return On Equity (14.25%) than 86.36% of its industry peers.
The Return On Invested Capital of FSM (11.79%) is better than 83.77% of its industry peers.
FSM had an Average Return On Invested Capital over the past 3 years of 5.85%. This is below the industry average of 10.34%.
The 3 year average ROIC (5.85%) for FSM is below the current ROIC(11.79%), indicating increased profibility in the last year.

		Industry Rank	Sector Rank
ROA	10.3%
ROE	14.25%
ROIC	11.79%

ROA(3y)-1.11%

ROA(5y)0.32%

ROE(3y)-1.74%

ROE(5y)0.39%

ROIC(3y)5.85%

ROIC(5y)5.63%

1.3 Margins

FSM's Profit Margin of 21.48% is amongst the best of the industry. FSM outperforms 85.06% of its industry peers.
In the last couple of years the Profit Margin of FSM has grown nicely.
FSM has a Operating Margin of 33.56%. This is amongst the best in the industry. FSM outperforms 83.12% of its industry peers.
In the last couple of years the Operating Margin of FSM has grown nicely.
With a decent Gross Margin value of 42.91%, FSM is doing good in the industry, outperforming 77.27% of the companies in the same industry.
FSM's Gross Margin has been stable in the last couple of years.

		Industry Rank	Sector Rank
OM	33.56%
PM (TTM)	21.48%
GM	42.91%

OM growth 3Y-1.7%

OM growth 5Y2.93%

PM growth 3Y7.9%

PM growth 5Y5.55%

GM growth 3Y-2.98%

GM growth 5Y-0.63%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

FSM has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
FSM has about the same amout of shares outstanding than it did 1 year ago.
The number of shares outstanding for FSM has been increased compared to 5 years ago.
The debt/assets ratio for FSM has been reduced compared to a year ago.

2.2 Solvency

FSM has an Altman-Z score of 4.98. This indicates that FSM is financially healthy and has little risk of bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 4.98, FSM is in the better half of the industry, outperforming 60.39% of the companies in the same industry.
FSM has a debt to FCF ratio of 0.82. This is a very positive value and a sign of high solvency as it would only need 0.82 years to pay back of all of its debts.
FSM has a better Debt to FCF ratio (0.82) than 88.96% of its industry peers.
FSM has a Debt/Equity ratio of 0.12. This is a healthy value indicating a solid balance between debt and equity.
FSM has a Debt to Equity ratio of 0.12. This is comparable to the rest of the industry: FSM outperforms 59.09% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.12
Debt/FCF	0.82
Altman-Z	4.98

ROIC/WACC1.22

WACC9.69%

2.3 Liquidity

FSM has a Current Ratio of 3.30. This indicates that FSM is financially healthy and has no problem in meeting its short term obligations.
With a decent Current ratio value of 3.30, FSM is doing good in the industry, outperforming 68.18% of the companies in the same industry.
A Quick Ratio of 2.73 indicates that FSM has no problem at all paying its short term obligations.
The Quick ratio of FSM (2.73) is better than 68.18% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	3.3
Quick Ratio	2.73

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WACC

Debt/Equity

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Altman-Z score

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3. Growth

3.1 Past

FSM shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 41.36%, which is quite impressive.
The Earnings Per Share has been growing by 22.67% on average over the past years. This is a very strong growth
The Revenue has been growing slightly by 4.78% in the past year.
FSM shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 32.79% yearly.

EPS 1Y (TTM)41.36%

EPS 3Y3.57%

EPS 5Y22.67%

EPS Q2Q%-10.59%

Revenue 1Y (TTM)4.78%

Revenue growth 3Y20.98%

Revenue growth 5Y32.79%

Sales Q2Q%-8.56%

3.2 Future

Based on estimates for the next years, FSM will show a very strong growth in Earnings Per Share. The EPS will grow by 27.53% on average per year.
Based on estimates for the next years, FSM will show a small growth in Revenue. The Revenue will grow by 2.06% on average per year.

EPS Next Y54.53%

EPS Next 2Y56.5%

EPS Next 3Y33.39%

EPS Next 5Y27.53%

Revenue Next Year-0.65%

Revenue Next 2Y5.14%

Revenue Next 3Y2.22%

Revenue Next 5Y2.06%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.

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4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 18.52, the valuation of FSM can be described as rather expensive.
Compared to the rest of the industry, the Price/Earnings ratio of FSM indicates a rather cheap valuation: FSM is cheaper than 90.91% of the companies listed in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.21, FSM is valued a bit cheaper.
With a Price/Forward Earnings ratio of 9.37, the valuation of FSM can be described as very reasonable.
FSM's Price/Forward Earnings ratio is rather cheap when compared to the industry. FSM is cheaper than 89.61% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 25.98. FSM is valued rather cheaply when compared to this.

		Industry Rank	Sector Rank
PE	18.52
Fwd PE	9.37

4.2 Price Multiples

94.81% of the companies in the same industry are more expensive than FSM, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, FSM is valued cheaper than 95.45% of the companies in the same industry.

		Industry Rank	Sector Rank
P/FCF	13.56
EV/EBITDA	5.87

4.3 Compensation for Growth

FSM's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The excellent profitability rating of FSM may justify a higher PE ratio.
A more expensive valuation may be justified as FSM's earnings are expected to grow with 33.39% in the coming years.