McEwen Mining Inc. (MUX) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.32	$0.21	-34.4%	—	$59.2M	—
Q1 26	$0.39	$0.49	+25.6%	—	$74M	—
Q4 25	$0.13	$0.66	+407.7%	—	$64.6M	—
Q2 25	$0.08	$0.19	+137.5%	—	$46.7M	—
Q1 25	-$0.11	-$0.12	-9.1%	—	$35.7M	—
Q4 24	-$0.09	-$0.16	-77.8%	—	$33.5M	—
Q3 24	-$0.1	-$0.04	+60.0%	—	$52.3M	—
Q2 24	-$0.23	-$0.26	-13.0%	—	$47.5M	—
Q1 24	-$0.11	-$0.41	-272.7%	—	$41.2M	—
Q4 23	-$0.2	$2.9	+1550.0%	—	$58.7M	—
Q3 23	-$0.74	-$0.39	+47.3%	—	$38.4M	—
Q2 23	-$0.66	-$0.46	+30.3%	—	$34.4M	—
Q1 23	-$0.25	-$0.91	-264.0%	—	$34.8M	—
Q4 22	-$0.16	-$0.79	-393.8%	—	$28.2M	—
Q3 22	-$0.24	-$0.21	+12.5%	—	$26M	—
Q2 22	-$0.15	-$0.26	-73.3%	—	$30.6M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.64	—	—	$197.6M	—
FY24	—	-$0.86	—	—	$174.5M	—
FY23	—	$1.16	—	—	$166.2M	—
FY22	—	-$1.71	—	—	$110.4M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$60.4M	$67.5M	$128.2M	$117M	$104.8M	$136.5M	$110.4M	$166.2M	$174.5M	$197.6M
YoY change	-17.2%	+11.7%	+90%	-8.7%	-10.5%	+30.3%	-19.1%	+50.5%	+4.96%	+13.2%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	60.4M	67.5M	128.2M	117M	104.8M	136.5M	110.4M	166.2M	174.5M	197.6M
Cost of revenue	35.5M	47.4M	96.1M	108M	131.7M	143M	111M	148.5M	143.5M	150M
Gross profit	24.9M	20.1M	32.1M	9M	-26.9M	-6.5M	-544K	17.8M	30.9M	47.6M
Gross margin	41.2%	29.8%	25%	7.68%	-25.7%	-4.75%	-0.49%	10.7%	17.7%	24.1%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	12.7M	12.3M	11.1M	12.8M	9.2M	11.4M	11.9M	15.4M	17.2M	26.7M
Operating expenses	21.3M	44.2M	66.2M	63.6M	34.1M	46.4M	96.9M	120.9M	42.9M	59.9M
Operating income	2.4M	-25.5M	-35.3M	-55.2M	-61.4M	-53.2M	-98.2M	-104.3M	-12.6M	-12.9M
Operating margin	3.97%	-37.8%	-27.6%	-47.1%	-58.6%	-39%	-88.9%	-62.7%	-7.23%	-6.54%
Non-operating income, net	14.1M	466K	-10.7M	-1.6M	-84.8M	-4.8M	25.7M	134.4M	-29.5M	27.1M
Pretax income	17.3M	-26M	-47.6M	-63.6M	-153.7M	-64.2M	-80.3M	67M	-46.7M	6.9M
Income tax	-3.7M	-15.4M	-2.8M	-3.8M	-1.4M	-7.3M	5.8M	33.9M	-3M	-27.5M
Net income	21.1M	-10.6M	-44.9M	-59.7M	-152.3M	-56.9M	-86.1M	33.2M	-43.7M	34.4M
Net margin	34.9%	-15.8%	-35%	-51.1%	-145.4%	-41.7%	-78%	20%	-25%	17.4%
EBITDA	4.9M	-19.2M	-30.2M	-38.2M	-39.8M	-33.2M	-76.3M	-265.1M	16.4M	4.1M
EPS	0.7	-0.3	-1.3	-1.7	-3.78	-1.25	-1.71	1.16	-0.86	0.64
Diluted EPS	0.7	-0.3	-1.3	-1.7	-3.78	-1.25	-1.71	1.16	-0.86	0.59

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	38.4M	58.7M	41.2M	47.5M	52.3M	33.5M	35.7M	46.7M	50.5M	64.6M	74M	59.2M
Cost of revenue	34.6M	45M	35.2M	36.7M	38.4M	33.2M	25.6M	34.4M	42.7M	47.2M	42.6M	39.2M
Gross profit	3.8M	13.6M	6M	10.8M	13.8M	363K	10.1M	12.3M	7.8M	17.4M	31.5M	20.1M
Gross margin	9.78%	23.2%	14.6%	22.7%	26.4%	1.08%	28.2%	26.3%	15.5%	26.9%	42.5%	33.9%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	3.7M	6.2M	4.1M	4.5M	2.1M	6.5M	3.4M	5M	6.1M	12.2M	9.5M	7.9M
Operating expenses	29.6M	10.1M	11.1M	12.4M	10.7M	8.7M	9.5M	12.1M	15.3M	23M	20.4M	23.3M
Operating income	-26.2M	3.3M	-5.2M	-1.8M	3M	-8.5M	428K	7K	-7.6M	-5.7M	10.9M	-3.4M
Operating margin	-68.1%	5.68%	-12.7%	-3.86%	5.71%	-25.4%	1.2%	0.01%	-15.1%	-8.87%	14.7%	-5.82%
Non-operating income, net	-12.8M	176M	-16.8M	-11.8M	-3.2M	2.3M	-6.5M	3.7M	7.5M	22.4M	23.8M	9.7M
Pretax income	-28.6M	177.9M	-22.9M	-15.4M	-1.3M	-7.2M	-7.3M	1.9M	-1.7M	14.1M	33.2M	5.8M
Income tax	-244K	36.7M	-2.6M	-2.4M	814K	1.1M	-1.1M	-1.1M	-1.3M	-24M	-174K	-3.8M
Net income	-28.4M	141.2M	-20.4M	-13M	-2.1M	-8.2M	-6.3M	3M	-462K	38.1M	33.4M	9.6M
Net margin	-73.9%	240.7%	-49.4%	-27.4%	-3.98%	-24.6%	-17.6%	6.51%	-0.91%	59%	45.1%	16.2%
EBITDA	-6.6M	-217M	2.3M	5.8M	12.2M	-4M	5.2M	-76K	-8.3M	7.4M	23.3M	16.6M
EPS	-0.39	—	-0.41	-0.26	-0.04	—	-0.12	0.06	-0.01	—	0.56	0.16
Diluted EPS	-0.39	—	-0.41	-0.26	-0.04	—	-0.12	0.06	-0.01	—	0.47	0.14

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	869.4M	715.7M	613.9M	459.5M	—	—	277.9M	342.8M	396.9M	1B	1.1B
Enterprise value	823.4M	681.1M	650.6M	467.9M	—	—	303.4M	359.5M	424.2M	1.1B	1.2B
Shares outstanding	29.9M	31.4M	33.7M	36.2M	40.3M	45.5M	47.4M	47.5M	51M	54M	54M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	41.3	—	—	—	—	—	—	10.3	—	29.1	15.1
P/S	14.4	10.6	4.79	3.93	—	—	2.52	2.06	2.28	5.06	4.57
P/B	1.96	1.37	1.26	0.92	—	—	0.78	0.68	0.8	1.83	1.61
EV/EBITDA	169.6	-35.5	-21.5	-12.3	—	—	-3.98	-1.36	25.9	255.5	42.1
EV/Sales	13.6	10.1	5.08	4	—	—	2.75	2.16	2.43	5.36	4.84
Earnings yield	2.42%	—	—	—	—	—	—	9.68%	—	3.44%	6.62%
FCF yield	0.03%	-5.06%	-13.2%	-15.1%	—	—	-29.1%	-19.2%	-3.44%	-3.78%	-1.72%
PEG	—	—	—	—	—	—	—	—	—	—	0.09

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	41.2%	29.8%	25%	7.68%	-25.7%	-4.75%	-0.49%	10.7%	17.7%	24.1%	33.9%
Operating margin	3.97%	-37.8%	-27.6%	-47.1%	-58.6%	-39%	-88.9%	-62.7%	-7.23%	-6.54%	-5.92%
Net margin	34.9%	-15.8%	-35%	-51.1%	-145.4%	-41.7%	-78%	20%	-25%	17.4%	32.5%
ROE	4.75%	-2.04%	-9.23%	-12%	-41.7%	-14.6%	-24.2%	6.6%	-8.83%	6.3%	13.5%
ROA	4.23%	-1.8%	-7.27%	-9.47%	-30.5%	-10.8%	-16.3%	5.05%	-6.57%	4.2%	-0.43%
ROIC	0.6%	-5.25%	-6.76%	-10.9%	-15.4%	-13.7%	-25.7%	-9.94%	-2.42%	-2.14%	-0.79%
Return on tangible assets	4.23%	-1.8%	-7.27%	-9.47%	-30.5%	-10.8%	-16.3%	5.05%	-6.57%	4.2%	8.13%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	3.82	2.31	1.65	1.88	1.17	1.62	0.97	1.76	0.86	1.69	2.04
Quick ratio	2.52	1.46	1.04	1.1	0.58	1.32	0.59	1.09	0.48	1.27	1.61
Debt / equity	—	0	0.11	0.11	0.15	0.14	0.19	0.08	0.09	0.23	0.18
Debt / assets	—	0	0.09	0.09	0.11	0.1	0.13	0.06	0.06	0.16	0.13
Net debt / EBITDA	—	1.8	-1.22	-0.22	-0.82	0.08	-0.33	-0.06	1.66	14.1	1.05
Interest coverage	—	—	-28.4	-8.33	-19.7	-9.35	-9.31	-790.2	—	—	—
Effective tax rate	0%	0%	0%	0%	0%	0%	0%	50.5%	0%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	2.02	2.15	3.8	3.23	2.6	3	2.33	3.5	3.42	3.66	4.35
EPS (basic)	0.7	-0.3	-1.3	-1.7	-3.78	-1.25	-1.71	1.16	-0.86	0.64	0.64
EPS (diluted)	0.7	-0.3	-1.3	-1.7	-3.78	-1.25	-1.71	1.16	-0.86	0.59	1.26
Book value per share	14.8	16.6	14.4	13.8	9.05	8.57	7.51	10.6	9.7	10.1	11.8
FCF per share	0.01	-1.15	-2.4	-1.91	-1.02	-1.21	-1.7	-1.38	-0.27	-0.7	0.08
Cash per share	1.54	1.12	0.56	1.34	0.52	1.23	0.86	0.52	0.29	1.29	1.5
Capex per share	0.21	0.27	2.41	0.82	0.33	0.76	0.51	0.55	0.84	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	10.2%	12.7%	63.4%	25.4%	12.8%	25.2%	21.9%	15.7%	24.7%	—	—
Capex / operating cash flow	59.3%	-19.9%	1.4K%	-54.8%	-13.4%	-135.1%	-42.9%	29.2%	-1.4K%	—	—
Payout ratio	14.2%	-28.8%	-7.52%	0%	—	—	—	—	—	—	0%
Dividend yield	0.34%	0.43%	0.55%	0%	—	—	—	—	—	—	0.55%

Yield

0.55%

trailing twelve months

Frequency

Semi-annual

Last dividend

$0.50

ex-dividend Mar 7, 2019

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Mar 7, 2019	$0.50
Aug 24, 2018	$0.05
Feb 1, 2018	$0.05
Aug 10, 2017	$0.05
Feb 1, 2017	$0.05
Aug 22, 2016	$0.05
Feb 1, 2016	$0.05
Jul 29, 2015	$0.05

Split history

Date	Ratio
Jul 28, 2022	1:10
Dec 24, 1991	1:10

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$38.4M	$58.7M	$41.2M	$47.5M	$52.3M	$33.5M	$35.7M	$46.7M	$50.5M	$64.6M	$74M	$59.2M
YoY change	+47.8%	+107.8%	+18.6%	+38%	+36.1%	-42.9%	-13.4%	-1.63%	-3.28%	+92.8%	+107.4%	+26.8%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	46M	35.1M	18.9M	48.3M	20.8M	55.9M	40.9M	24.8M	14.9M	69.8M
Receivables	—	—	—	—	—	—	—	—	—	—
Inventory	26.6M	32M	22M	38.4M	27M	15.8M	31.7M	19.9M	18.1M	26.8M
Total current assets	78.6M	86.9M	59.4M	92M	53.5M	85M	81.7M	52.7M	41.2M	107.9M
Property, plant & equipment	257.6M	344.5M	406.9M	79.4M	14.4M	-2.2M	-13.6M	318.3M	-53.6M	-78.4M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—
Total assets	498.3M	592.1M	616.9M	631.2M	499.9M	525.3M	528.7M	657.2M	664.6M	820.2M
Accounts payable	—	—	—	—	—	39.6M	42.5M	22.7M	28.4M	44.9M
Short-term debt	—	470K	1.5M	12.1M	2.4M	2.9M	11.2M	978K	788K	926K
Total current liabilities	20.6M	37.6M	36M	48.8M	45.6M	52.4M	84.2M	30M	47.7M	63.8M
Long-term debt	—	81K	54.1M	44.5M	51.2M	50.4M	55.2M	40.5M	41.3M	127.3M
Total liabilities	55.3M	70.9M	131M	131.7M	134.6M	135.4M	172.4M	154.8M	169.6M	274M
Shareholders' equity	443M	521.3M	485.9M	499.5M	365.3M	389.9M	356.3M	502.4M	495M	546.2M
Total debt	—	551K	55.6M	56.6M	53.7M	53.3M	66.4M	41.5M	42.1M	128.2M
Net debt	—	-26.6M	39.9M	10.2M	32.8M	-1M	26.6M	18.4M	28.4M	77.2M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	89.9M	24.8M	23.6M	42.6M	30.2M	14.9M	78.2M	67.4M	71.9M	69.8M	66M	87.5M
Receivables	—	—	—	—	—	—	—	—	—	—	—	—
Inventory	27.2M	19.9M	19.9M	20M	21.9M	18.1M	20.7M	24.1M	29.5M	26.8M	31.4M	27.2M
Total current assets	125.8M	52.7M	52M	72.2M	59.6M	41.2M	106.4M	107.7M	119.4M	107.9M	109.8M	129.7M
Property, plant & equipment	—	318.3M	—	—	—	-53.6M	—	—	—	-78.4M	—	—
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	572.7M	657.2M	638.7M	645.1M	667.8M	664.6M	730.6M	735.6M	747.6M	820.2M	972.6M	992.1M
Accounts payable	38.8M	22.7M	24.7M	24.8M	28.8M	28.4M	27M	33.9M	36.2M	44.9M	47.7M	41.3M
Short-term debt	1M	978K	3.9M	6.7M	9.9M	788K	766K	727K	833K	926K	3.8M	6.8M
Total current liabilities	53.5M	30M	37.9M	43M	50.9M	47.7M	45.3M	45.9M	56.8M	63.8M	96.7M	63.7M
Long-term debt	41M	40.5M	37.8M	34.7M	32.6M	41.3M	126.7M	126.9M	126.9M	127.3M	124.3M	121.6M
Total liabilities	138.7M	154.8M	156.2M	159.9M	165.7M	169.6M	250.8M	251.1M	259.1M	274M	320.6M	285.5M
Shareholders' equity	434M	502.4M	482.5M	485.2M	502.1M	495M	479.8M	484.5M	488.6M	546.2M	652M	706.6M
Total debt	42M	41.5M	41.7M	41.4M	42.5M	42.1M	127.5M	127.6M	127.7M	128.2M	128.1M	128.4M
Net debt	-7.2M	18.4M	19.7M	708K	13.2M	28.4M	59M	74M	76.5M	77.2M	71.6M	49.5M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	21.1M	-10.6M	-44.9M	-59.7M	-152.3M	-56.9M	-86.1M	33.2M	-43.7M	34.4M
Depreciation & amortization	3.6M	6.6M	16.4M	25.5M	23.1M	25.3M	19.5M	30.4M	30.9M	27.8M
Stock-based compensation	1M	1.3M	269K	694K	612K	837K	340K	971K	3.2M	3.7M
Change in working capital	-13.7M	-26.5M	33.4M	-20.4M	28.3M	8.9M	4.6M	-14.8M	12.3M	-19.8M
Operating cash flow	10.4M	-42.9M	5.9M	-54.3M	-100M	-25.5M	-56.3M	89.4M	-3.1M	6.9M
Capital expenditure	-6.2M	-8.5M	-81.2M	-29.7M	-13.4M	-34.4M	-24.2M	-26.1M	-43.1M	—
Investing cash flow	8.6M	-34.5M	-69.3M	-22.9M	-12.1M	-34.4M	-24.2M	-29.9M	-58M	-5.6M
Dividends paid	-3M	-3.1M	-3.4M	0	—	—	—	—	—	—
Share repurchases	-582K	0	0	—	—	—	—	—	—	—
Financing cash flow	-10.4M	45.7M	60.2M	69.5M	17.4M	81M	65.5M	172.2M	19.2M	89.7M
Net change in cash	8.7M	-31.6M	-3.2M	-7.7M	-94.6M	21.1M	-15.1M	231.7M	-41.9M	90.9M
Free cash flow	289K	-36.2M	-80.8M	-69.2M	-41.2M	-55M	-80.8M	-65.7M	-13.6M	-37.8M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	-28.4M	141.2M	-20.4M	-13M	-2.1M	-8.2M	-6.3M	3M	-462K	38.1M	33.4M	9.6M
Depreciation & amortization	8.5M	6.1M	7.4M	7.7M	8.9M	6.9M	6.2M	6.9M	7.6M	7.2M	7.1M	8.2M
Stock-based compensation	270K	617K	464K	1.3M	357K	1.1M	178K	1.2M	844K	1.5M	—	—
Change in working capital	4M	-5M	2M	-1.5M	14.4M	-237K	-4.9M	-15.4M	77K	-2.9M	-14.4M	-7M
Operating cash flow	-16.9M	184.9M	-13.2M	-8.3M	21.7M	-1.1M	-6.8M	478K	5.2M	3.1M	12.1M	46.2M
Capital expenditure	-9.3M	-7.8M	-4.5M	-6.7M	-19.1M	-12.7M	-14.5M	—	—	—	—	—
Investing cash flow	-16.4M	-8.1M	-4.6M	-6.5M	-19.2M	-13M	-15.8M	-524K	-545K	1.4M	-6.5M	1.7M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-562K	13.3M	-149K	-245K	-502K	-335K	70.5M	-263K	-252K	19.7M	14.5M	-262K
Net change in cash	-33.8M	190.2M	-17.9M	-15.1M	2M	-14.4M	47.9M	-309K	4.4M	24.2M	20.2M	47.7M
Free cash flow	-11.9M	8.6M	-641K	-3.1M	4M	-14M	-16.5M	-9.2M	-5.6M	-6.5M	-2.4M	20.9M

McEwen Mining Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement