FORTUNA MINING CORP (FVI.CA) Stock Fundamental Analysis

Canada • Toronto Stock Exchange • TSX:FVI • CA3499421020

15.51 CAD

-0.58 (-3.6%)

Last: Jan 29, 2026, 07:00 PM

Fundamental Rating

We assign a fundamental rating of 7 out of 10 to FVI. FVI was compared to 820 industry peers in the Metals & Mining industry. FVI scores excellent points on both the profitability and health parts. This is a solid base for a good stock. FVI is evaluated to be cheap and growing strongly. This does not happen too often! These ratings could make FVI a good candidate for value and growth and quality investing.

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1. Profitability

1.1 Basic Checks

In the past year FVI was profitable.
FVI had a positive operating cash flow in the past year.
In multiple years FVI reported negative net income over the last 5 years.
In the past 5 years FVI always reported a positive cash flow from operatings.

1.2 Ratios

FVI has a better Return On Assets (10.30%) than 93.05% of its industry peers.
FVI has a Return On Equity of 14.25%. This is amongst the best in the industry. FVI outperforms 92.80% of its industry peers.
FVI's Return On Invested Capital of 11.79% is amongst the best of the industry. FVI outperforms 95.00% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for FVI is significantly below the industry average of 12.04%.
The last Return On Invested Capital (11.79%) for FVI is above the 3 year average (5.85%), which is a sign of increasing profitability.

		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

FVI has a Profit Margin of 21.48%. This is amongst the best in the industry. FVI outperforms 94.39% of its industry peers.
FVI's Profit Margin has improved in the last couple of years.
FVI has a Operating Margin of 33.56%. This is amongst the best in the industry. FVI outperforms 94.88% of its industry peers.
In the last couple of years the Operating Margin of FVI has grown nicely.
Looking at the Gross Margin, with a value of 42.91%, FVI belongs to the top of the industry, outperforming 93.29% of the companies in the same industry.
FVI'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

FVI has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
FVI has about the same amout of shares outstanding than it did 1 year ago.
Compared to 5 years ago, FVI has more shares outstanding
Compared to 1 year ago, FVI has an improved debt to assets ratio.

2.2 Solvency

FVI has an Altman-Z score of 4.93. This indicates that FVI is financially healthy and has little risk of bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 4.93, FVI is in line with its industry, outperforming 52.56% of the companies in the same industry.
The Debt to FCF ratio of FVI is 0.82, which is an excellent value as it means it would take FVI, only 0.82 years of fcf income to pay off all of its debts.
FVI's Debt to FCF ratio of 0.82 is amongst the best of the industry. FVI outperforms 94.27% of its industry peers.
FVI has a Debt/Equity ratio of 0.12. This is a healthy value indicating a solid balance between debt and equity.
FVI has a Debt to Equity ratio of 0.12. This is in the lower half of the industry: FVI underperforms 63.17% of its industry peers.
Although FVI does not score too well on debt/equity it has very limited outstanding debt, which is well covered by the FCF. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.

		Industry Rank	Sector Rank
Debt/Equity	0.12
Debt/FCF	0.82
Altman-Z	4.93

ROIC/WACC1.21

WACC9.72%

2.3 Liquidity

A Current Ratio of 3.30 indicates that FVI has no problem at all paying its short term obligations.
Looking at the Current ratio, with a value of 3.30, FVI is in the better half of the industry, outperforming 64.88% of the companies in the same industry.
A Quick Ratio of 2.73 indicates that FVI has no problem at all paying its short term obligations.
Looking at the Quick ratio, with a value of 2.73, FVI is in the better half of the industry, outperforming 61.59% of the companies in the same industry.

		Industry Rank	Sector Rank
Current Ratio	3.3
Quick Ratio	2.73

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

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

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
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

The Price/Earnings ratio is 18.46, which indicates a rather expensive current valuation of FVI.
FVI's Price/Earnings ratio is rather cheap when compared to the industry. FVI is cheaper than 94.27% of the companies in the same industry.
FVI is valuated rather cheaply when we compare the Price/Earnings ratio to 28.39, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 9.36, the valuation of FVI can be described as reasonable.
Based on the Price/Forward Earnings ratio, FVI is valued cheaply inside the industry as 95.24% of the companies are valued more expensively.
FVI is valuated cheaply when we compare the Price/Forward Earnings ratio to 25.72, which is the current average of the S&P500 Index.

		Industry Rank	Sector Rank
PE	18.46
Fwd PE	9.36

4.2 Price Multiples

97.93% of the companies in the same industry are more expensive than FVI, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, FVI is valued cheaply inside the industry as 98.29% of the companies are valued more expensively.

		Industry Rank	Sector Rank
P/FCF	13.54
EV/EBITDA	5.77

4.3 Compensation for Growth

FVI'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 FVI may justify a higher PE ratio.
A more expensive valuation may be justified as FVI's earnings are expected to grow with 33.39% in the coming years.