FIRST MAJESTIC SILVER CORP (AG.CA) Stock Fundamental Analysis

Canada • Toronto Stock Exchange • TSX:AG • CA32076V1031

30.06 CAD
+2.28 (+8.21%)
Last: Feb 6, 2026, 07:00 PM
Fundamental Rating

7

Overall AG gets a fundamental rating of 7 out of 10. We evaluated AG against 814 industry peers in the Metals & Mining industry. AG is in great health and has no worries on liquidiy or solvency at all, but the profibility rating is only average. AG is evaluated to be cheap and growing strongly. This does not happen too often! With these ratings, AG could be worth investigating further for value and growth investing!.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • In the past year AG was profitable.
  • AG had a positive operating cash flow in the past year.
  • In the past 5 years AG reported 4 times negative net income.
  • Each year in the past 5 years AG had a positive operating cash flow.
AG.CA Yearly Net Income VS EBIT VS OCF VS FCFAG.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M -100M -200M

1.2 Ratios

  • AG has a better Return On Assets (1.61%) than 85.63% of its industry peers.
  • The Return On Equity of AG (2.63%) is better than 86.24% of its industry peers.
  • With an excellent Return On Invested Capital value of 3.31%, AG belongs to the best of the industry, outperforming 90.42% of the companies in the same industry.
Industry RankSector Rank
ROA 1.61%
ROE 2.63%
ROIC 3.31%
ROA(3y)-5.8%
ROA(5y)-3.15%
ROE(3y)-8.53%
ROE(5y)-4.64%
ROIC(3y)N/A
ROIC(5y)N/A
AG.CA Yearly ROA, ROE, ROICAG.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -10 -20 -30

1.3 Margins

  • AG has a Profit Margin of 7.07%. This is amongst the best in the industry. AG outperforms 91.15% of its industry peers.
  • The Operating Margin of AG (19.10%) is better than 92.01% of its industry peers.
  • AG's Operating Margin has declined in the last couple of years.
  • The Gross Margin of AG (27.78%) is better than 90.17% of its industry peers.
  • In the last couple of years the Gross Margin of AG has declined.
Industry RankSector Rank
OM 19.1%
PM (TTM) 7.07%
GM 27.78%
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%
AG.CA Yearly Profit, Operating, Gross MarginsAG.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 -40 -60

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7

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), AG is destroying value.
  • AG has more shares outstanding than it did 1 year ago.
  • AG has more shares outstanding than it did 5 years ago.
  • The debt/assets ratio for AG has been reduced compared to a year ago.
AG.CA Yearly Shares OutstandingAG.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M
AG.CA Yearly Total Debt VS Total AssetsAG.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

2.2 Solvency

  • An Altman-Z score of 4.01 indicates that AG is not in any danger for bankruptcy at the moment.
  • AG has a Altman-Z score (4.01) which is in line with its industry peers.
  • AG has a debt to FCF ratio of 1.56. This is a very positive value and a sign of high solvency as it would only need 1.56 years to pay back of all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 1.56, AG belongs to the top of the industry, outperforming 93.12% of the companies in the same industry.
  • AG has a Debt/Equity ratio of 0.09. This is a healthy value indicating a solid balance between debt and equity.
  • With a Debt to Equity ratio value of 0.09, AG is not doing good in the industry: 62.53% of the companies in the same industry are doing better.
  • Even though the debt/equity ratio score it not favorable for AG, it has very limited outstanding debt, so we won't put too much weight on the DE evaluation.
Industry RankSector Rank
Debt/Equity 0.09
Debt/FCF 1.56
Altman-Z 4.01
ROIC/WACC0.34
WACC9.8%
AG.CA Yearly LT Debt VS Equity VS FCFAG.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B

2.3 Liquidity

  • AG has a Current Ratio of 3.38. This indicates that AG is financially healthy and has no problem in meeting its short term obligations.
  • The Current ratio of AG (3.38) is better than 64.74% of its industry peers.
  • AG has a Quick Ratio of 2.96. This indicates that AG is financially healthy and has no problem in meeting its short term obligations.
  • With a decent Quick ratio value of 2.96, AG is doing good in the industry, outperforming 62.53% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 3.38
Quick Ratio 2.96
AG.CA Yearly Current Assets VS Current LiabilitesAG.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

8

3. Growth

3.1 Past

  • AG shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 200.00%, which is quite impressive.
  • The Revenue has grown by 83.84% in the past year. This is a very strong growth!
  • The Revenue has been growing by 9.02% on average over the past years. This is quite good.
EPS 1Y (TTM)200%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%333.33%
Revenue 1Y (TTM)83.84%
Revenue growth 3Y-1.36%
Revenue growth 5Y9.02%
Sales Q2Q%95.11%

3.2 Future

  • AG is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 47.84% yearly.
  • The Revenue is expected to grow by 25.94% on average over the next years. This is a very strong growth
EPS Next Y345.62%
EPS Next 2Y167.39%
EPS Next 3Y93.71%
EPS Next 5Y47.84%
Revenue Next Year106.65%
Revenue Next 2Y56.7%
Revenue Next 3Y44.34%
Revenue Next 5Y25.94%

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.
AG.CA Yearly Revenue VS EstimatesAG.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 500M 1B 1.5B
AG.CA Yearly EPS VS EstimatesAG.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0 0.2 -0.2 0.4 0.6

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7

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 115.62 indicates a quite expensive valuation of AG.
  • Based on the Price/Earnings ratio, AG is valued cheaply inside the industry as 86.12% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Earnings ratio of 27.92, AG is valued quite expensively.
  • AG is valuated quite expensively with a Price/Forward Earnings ratio of 32.81.
  • AG's Price/Forward Earnings ratio is rather cheap when compared to the industry. AG is cheaper than 87.96% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 27.78, AG is valued at the same level.
Industry RankSector Rank
PE 115.62
Fwd PE 32.81
AG.CA Price Earnings VS Forward Price EarningsAG.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80 100

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of AG indicates a rather cheap valuation: AG is cheaper than 90.91% of the companies listed in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of AG indicates a rather cheap valuation: AG is cheaper than 92.26% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 71.01
EV/EBITDA 23.09
AG.CA Per share dataAG.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

4.3 Compensation for Growth

  • AG's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • The decent profitability rating of AG may justify a higher PE ratio.
  • A more expensive valuation may be justified as AG's earnings are expected to grow with 93.71% in the coming years.
PEG (NY)0.33
PEG (5Y)N/A
EPS Next 2Y167.39%
EPS Next 3Y93.71%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

3

5. Dividend

5.1 Amount

  • AG has a yearly dividend return of 0.10%, which is pretty low.
  • Compared to an average industry Dividend Yield of 0.42, AG pays a better dividend. On top of this AG pays more dividend than 94.47% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.83, AG's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.1%

5.2 History

  • AG has been paying a dividend for over 5 years, so it has already some track record.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
AG.CA Yearly Dividends per shareAG.CA Yearly Dividends per shareYearly Dividends per share 2021 2022 2023 2024 2025 0 0 0 0 0

5.3 Sustainability

  • 12.79% of the earnings are spent on dividend by AG. This is a low number and sustainable payout ratio.
DP12.79%
EPS Next 2Y167.39%
EPS Next 3Y93.71%
AG.CA Yearly Income VS Free CF VS DividendAG.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -50M -100M -150M -200M
AG.CA Dividend Payout.AG.CA Dividend Payout, showing the Payout Ratio.AG.CA Dividend Payout.PayoutRetained Earnings

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FIRST MAJESTIC SILVER CORP

TSX:AG (2/6/2026, 7:00:00 PM)

30.06

+2.28 (+8.21%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)11-05
Earnings (Next)02-19
Inst Owners52.82%
Inst Owner ChangeN/A
Ins Owners1.07%
Ins Owner ChangeN/A
Market Cap14.76B
Revenue(TTM)965.57M
Net Income(TTM)68.31M
Analysts80
Price Target23.87 (-20.59%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.1%
Yearly Dividend0.02
Dividend Growth(5Y)N/A
DP12.79%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)62.34%
Min EPS beat(2)-34.23%
Max EPS beat(2)158.9%
EPS beat(4)1
Avg EPS beat(4)20.97%
Min EPS beat(4)-34.23%
Max EPS beat(4)158.9%
EPS beat(8)2
Avg EPS beat(8)-73.49%
EPS beat(12)4
Avg EPS beat(12)-71.43%
EPS beat(16)4
Avg EPS beat(16)-92.21%
Revenue beat(2)0
Avg Revenue beat(2)-9.75%
Min Revenue beat(2)-10.14%
Max Revenue beat(2)-9.35%
Revenue beat(4)1
Avg Revenue beat(4)-4%
Min Revenue beat(4)-10.14%
Max Revenue beat(4)5.21%
Revenue beat(8)3
Avg Revenue beat(8)-2.51%
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)0%
PT rev (3m)5.88%
EPS NQ rev (1m)38.09%
EPS NQ rev (3m)61.11%
EPS NY rev (1m)11.51%
EPS NY rev (3m)93.75%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)8.48%
Valuation
Industry RankSector Rank
PE 115.62
Fwd PE 32.81
P/S 11.17
P/FCF 71.01
P/OCF 31.76
P/B 4.15
P/tB 4.15
EV/EBITDA 23.09
EPS(TTM)0.26
EY0.86%
EPS(NY)0.92
Fwd EY3.05%
FCF(TTM)0.42
FCFY1.41%
OCF(TTM)0.95
OCFY3.15%
SpS2.69
BVpS7.24
TBVpS7.24
PEG (NY)0.33
PEG (5Y)N/A
Graham Number6.51
Profitability
Industry RankSector Rank
ROA 1.61%
ROE 2.63%
ROCE 4.6%
ROIC 3.31%
ROICexc 3.86%
ROICexgc 3.86%
OM 19.1%
PM (TTM) 7.07%
GM 27.78%
FCFM 15.74%
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
ROICexgc growth 3Y-32.27%
ROICexgc 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-Score7
Asset Turnover0.23
Health
Industry RankSector Rank
Debt/Equity 0.09
Debt/FCF 1.56
Debt/EBITDA 0.54
Cap/Depr 82.72%
Cap/Sales 19.45%
Interest Coverage 23.4
Cash Conversion 82.56%
Profit Quality 222.42%
Current Ratio 3.38
Quick Ratio 2.96
Altman-Z 4.01
F-Score7
WACC9.8%
ROIC/WACC0.34
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)200%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%333.33%
EPS Next Y345.62%
EPS Next 2Y167.39%
EPS Next 3Y93.71%
EPS Next 5Y47.84%
Revenue 1Y (TTM)83.84%
Revenue growth 3Y-1.36%
Revenue growth 5Y9.02%
Sales Q2Q%95.11%
Revenue Next Year106.65%
Revenue Next 2Y56.7%
Revenue Next 3Y44.34%
Revenue Next 5Y25.94%
EBIT growth 1Y1652.11%
EBIT growth 3Y-30.34%
EBIT growth 5Y-8.55%
EBIT Next Year191.95%
EBIT Next 3Y69.69%
EBIT Next 5Y30.45%
FCF growth 1Y198.11%
FCF growth 3YN/A
FCF growth 5Y11.46%
OCF growth 1Y1519.43%
OCF growth 3Y30.28%
OCF growth 5Y1.65%

FIRST MAJESTIC SILVER CORP / AG.CA FAQ

What is the fundamental rating for AG stock?

ChartMill assigns a fundamental rating of 7 / 10 to AG.CA.


What is the valuation status of FIRST MAJESTIC SILVER CORP (AG.CA) stock?

ChartMill assigns a valuation rating of 7 / 10 to FIRST MAJESTIC SILVER CORP (AG.CA). This can be considered as Undervalued.


What is the profitability of AG stock?

FIRST MAJESTIC SILVER CORP (AG.CA) has a profitability rating of 6 / 10.


Can you provide the expected EPS growth for AG stock?

The Earnings per Share (EPS) of FIRST MAJESTIC SILVER CORP (AG.CA) is expected to grow by 345.62% in the next year.


Can you provide the dividend sustainability for AG stock?

The dividend rating of FIRST MAJESTIC SILVER CORP (AG.CA) is 3 / 10 and the dividend payout ratio is 12.79%.