FIRST MAJESTIC SILVER CORP
AG · Gold and Silver Ores · EDGAR filings ↗
Grade
B72Well-capitalized silver miner with strong cash generation and surging revenue post-Gatos acquisition but only modest returns.
Strengths
- Top-decile FCF margin (89th pct) and revenue growth (89.5th pct) driven by the Gatos Silver acquisition
- Strong balance sheet: net cash, debt/equity 0.09, current ratio 2.6, $793M cash (89th pct)
Risks
- Returns are mediocre for a B: ROE 6.6% (65th) and ROIC 9% (44th pct), with net income down sharply (3.9th pct)
- Cyclical precious-metals price exposure and integration risk on the acquired Gatos operations
Notable findings
- Strong balance sheetStrong balance sheet — $793M cash & investments
Key metrics
Gross margin
56.8%
Operating margin
31.6%
Net margin
16.8%
Return on equity
6.6%
Return on assets
4.5%
ROIC
9.1%
Revenue growth (QoQ)
124.3%
Debt / equity
0.1×
Interest coverage
15.1×
Current ratio
2.6×
Free cash flow
$464M
Tangible book value
$3.2B
Cash & investments
$793M
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 40-F | 2026-03-31 | 2025-12-31 | 0001062993-26-001765 ↗ |
| 40-F | 2025-04-01 | 2024-12-31 | 0001062993-25-006602 ↗ |
| 40-F | 2024-04-02 | 2023-12-31 | 0001062993-24-007598 ↗ |
| 40-F | 2023-03-31 | 2022-12-31 | 0001062993-23-008230 ↗ |
| 40-F | 2022-03-31 | 2021-12-31 | 0001062993-22-009032 ↗ |
| 40-F | 2021-03-31 | 2020-12-31 | 0001062993-21-003171 ↗ |
| 40-F | 2020-03-30 | 2019-12-31 | 0001062993-20-001549 ↗ |
| 40-F | 2019-03-29 | 2018-12-31 | 0001062993-19-001460 ↗ |
| 40-F | 2018-03-29 | 2017-12-31 | 0001062993-18-001387 ↗ |
| 40-F | 2017-03-31 | 2016-12-31 | 0001308648-17-000015 ↗ |
| 40-F | 2016-03-30 | 2015-12-31 | 0001279569-16-003049 ↗ |
| 40-F | 2015-03-31 | 2014-12-31 | 0001279569-15-000616 ↗ |