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FIRST MAJESTIC SILVER CORP (AG) Stock Fundamental Analysis

USA - NYSE:AG - CA32076V1031 - Common Stock

13.24 USD
-0.5 (-3.64%)
Last: 10/10/2025, 8:10:46 PM
13.1799 USD
-0.06 (-0.45%)
After Hours: 10/10/2025, 8:10:46 PM
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to AG. AG was compared to 156 industry peers in the Metals & Mining industry. AG has only an average score on both its financial health and profitability. AG is not overvalued while it is showing excellent growth. This is an interesting combination.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year AG was profitable.
In the past year AG had a positive cash flow from operations.
AG had negative earnings in 4 of the past 5 years.
AG had a positive operating cash flow in each of the past 5 years.
AG Yearly Net Income VS EBIT VS OCF VS FCFAG Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M -100M -200M

1.2 Ratios

Looking at the Return On Assets, with a value of 0.36%, AG is in line with its industry, outperforming 58.33% of the companies in the same industry.
With a Return On Equity value of 0.59%, AG perfoms like the industry average, outperforming 58.33% of the companies in the same industry.
AG has a Return On Invested Capital of 2.23%. This is comparable to the rest of the industry: AG outperforms 55.13% of its industry peers.
Industry RankSector Rank
ROA 0.36%
ROE 0.59%
ROIC 2.23%
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 Yearly ROA, ROE, ROICAG Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -10 -20 -30

1.3 Margins

Looking at the Profit Margin, with a value of 1.78%, AG is in the better half of the industry, outperforming 63.46% of the companies in the same industry.
With a decent Operating Margin value of 13.29%, AG is doing good in the industry, outperforming 67.95% of the companies in the same industry.
In the last couple of years the Operating Margin of AG has declined.
With a decent Gross Margin value of 23.31%, AG is doing good in the industry, outperforming 61.54% of the companies in the same industry.
In the last couple of years the Gross Margin of AG has declined.
Industry RankSector Rank
OM 13.29%
PM (TTM) 1.78%
GM 23.31%
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 Yearly Profit, Operating, Gross MarginsAG Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 -40 -60

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6

2. Health

2.1 Basic Checks

AG has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for AG has been increased compared to 1 year ago.
AG has more shares outstanding than it did 5 years ago.
AG has a better debt/assets ratio than last year.
AG Yearly Shares OutstandingAG Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M
AG Yearly Total Debt VS Total AssetsAG Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

2.2 Solvency

An Altman-Z score of 2.76 indicates that AG is not a great score, but indicates only limited risk for bankruptcy at the moment.
AG has a Altman-Z score (2.76) which is in line with its industry peers.
The Debt to FCF ratio of AG is 2.24, which is a good value as it means it would take AG, 2.24 years of fcf income to pay off all of its debts.
AG's Debt to FCF ratio of 2.24 is fine compared to the rest of the industry. AG outperforms 78.85% of its industry peers.
AG has a Debt/Equity ratio of 0.09. This is a healthy value indicating a solid balance between debt and equity.
The Debt to Equity ratio of AG (0.09) is better than 60.90% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.09
Debt/FCF 2.24
Altman-Z 2.76
ROIC/WACC0.26
WACC8.46%
AG Yearly LT Debt VS Equity VS FCFAG Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B

2.3 Liquidity

A Current Ratio of 3.27 indicates that AG has no problem at all paying its short term obligations.
Looking at the Current ratio, with a value of 3.27, AG is in the better half of the industry, outperforming 66.03% of the companies in the same industry.
AG has a Quick Ratio of 2.84. This indicates that AG is financially healthy and has no problem in meeting its short term obligations.
Looking at the Quick ratio, with a value of 2.84, AG is in the better half of the industry, outperforming 69.23% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 3.27
Quick Ratio 2.84
AG Yearly Current Assets VS Current LiabilitesAG Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

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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 145.00%, which is quite impressive.
AG shows a strong growth in Revenue. In the last year, the Revenue has grown by 61.34%.
AG shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.02% yearly.
EPS 1Y (TTM)145%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%157.14%
Revenue 1Y (TTM)61.34%
Revenue growth 3Y-1.36%
Revenue growth 5Y9.02%
Sales Q2Q%94.05%

3.2 Future

AG is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 34.82% yearly.
AG is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 20.49% yearly.
EPS Next Y226.77%
EPS Next 2Y71.2%
EPS Next 3Y65.04%
EPS Next 5Y34.82%
Revenue Next Year90.5%
Revenue Next 2Y37.18%
Revenue Next 3Y33.83%
Revenue Next 5Y20.49%

3.3 Evolution

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
AG Yearly Revenue VS EstimatesAG Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 200M 400M 600M 800M 1B
AG Yearly EPS VS EstimatesAG Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0 0.1 -0.1 0.2 -0.2 0.3

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4

4. Valuation

4.1 Price/Earnings Ratio

AG is valuated quite expensively with a Price/Earnings ratio of 147.11.
Compared to the rest of the industry, the Price/Earnings ratio of AG is on the same level as its industry peers.
AG's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 27.02.
Based on the Price/Forward Earnings ratio of 109.40, the valuation of AG can be described as expensive.
Compared to the rest of the industry, the Price/Forward Earnings ratio of AG is on the same level as its industry peers.
The average S&P500 Price/Forward Earnings ratio is at 22.57. AG is valued rather expensively when compared to this.
Industry RankSector Rank
PE 147.11
Fwd PE 109.4
AG Price Earnings VS Forward Price EarningsAG Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 50 100

4.2 Price Multiples

AG's Enterprise Value to EBITDA is on the same level as the industry average.
64.10% of the companies in the same industry are more expensive than AG, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 61.81
EV/EBITDA 20.43
AG Per share dataAG EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 1 2 3 4 5

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.
AG's earnings are expected to grow with 65.04% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.65
PEG (5Y)N/A
EPS Next 2Y71.2%
EPS Next 3Y65.04%

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3

5. Dividend

5.1 Amount

With a yearly dividend of 0.19%, AG is not a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 2.45, AG pays a bit more dividend than its industry peers.
With a Dividend Yield of 0.19, AG pays less dividend than the S&P500 average, which is at 2.44.
Industry RankSector Rank
Dividend Yield 0.19%

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 Yearly Dividends per shareAG Yearly Dividends per shareYearly Dividends per share 2021 2022 2023 2024 2025 0 0 0 0 0

5.3 Sustainability

52.76% of the earnings are spent on dividend by AG. This is a bit on the high side, but may be sustainable.
DP52.76%
EPS Next 2Y71.2%
EPS Next 3Y65.04%
AG Yearly Income VS Free CF VS DividendAG Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -50M -100M -150M -200M
AG Dividend Payout.AG Dividend Payout, showing the Payout Ratio.AG Dividend Payout.PayoutRetained Earnings

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FIRST MAJESTIC SILVER CORP

NYSE:AG (10/10/2025, 8:10:46 PM)

After market: 13.1799 -0.06 (-0.45%)

13.24

-0.5 (-3.64%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)08-14 2025-08-14/bmo
Earnings (Next)11-05 2025-11-05/amc
Inst Owners54.86%
Inst Owner Change0%
Ins Owners1.02%
Ins Owner Change0%
Market Cap6.48B
Analysts76.92
Price Target10.87 (-17.9%)
Short Float %4.62%
Short Ratio1.16
Dividend
Industry RankSector Rank
Dividend Yield 0.19%
Yearly Dividend0.02
Dividend Growth(5Y)N/A
DP52.76%
Div Incr Years0
Div Non Decr Years0
Ex-Date08-29 2025-08-29 (0.0048)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)68.6%
Min EPS beat(2)-21.7%
Max EPS beat(2)158.9%
EPS beat(4)1
Avg EPS beat(4)-21.95%
Min EPS beat(4)-205.91%
Max EPS beat(4)158.9%
EPS beat(8)2
Avg EPS beat(8)-112.05%
EPS beat(12)4
Avg EPS beat(12)-88.25%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-5.54%
Min Revenue beat(2)-9.35%
Max Revenue beat(2)-1.73%
Revenue beat(4)1
Avg Revenue beat(4)-1.5%
Min Revenue beat(4)-9.35%
Max Revenue beat(4)5.21%
Revenue beat(8)3
Avg Revenue beat(8)-1.68%
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)12.39%
PT rev (3m)36.03%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-35.29%
EPS NY rev (1m)-14.67%
EPS NY rev (3m)-40.3%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)13.49%
Valuation
Industry RankSector Rank
PE 147.11
Fwd PE 109.4
P/S 7.83
P/FCF 61.81
P/OCF 24.14
P/B 2.59
P/tB 2.59
EV/EBITDA 20.43
EPS(TTM)0.09
EY0.68%
EPS(NY)0.12
Fwd EY0.91%
FCF(TTM)0.21
FCFY1.62%
OCF(TTM)0.55
OCFY4.14%
SpS1.69
BVpS5.11
TBVpS5.11
PEG (NY)0.65
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.36%
ROE 0.59%
ROCE 2.82%
ROIC 2.23%
ROICexc 2.52%
ROICexgc 2.52%
OM 13.29%
PM (TTM) 1.78%
GM 23.31%
FCFM 12.68%
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
ROICexcg growth 3Y-32.27%
ROICexcg 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 Turnover0.2
Health
Industry RankSector Rank
Debt/Equity 0.09
Debt/FCF 2.24
Debt/EBITDA 0.71
Cap/Depr 80.1%
Cap/Sales 19.78%
Interest Coverage 13.25
Cash Conversion 85.46%
Profit Quality 710.79%
Current Ratio 3.27
Quick Ratio 2.84
Altman-Z 2.76
F-Score7
WACC8.46%
ROIC/WACC0.26
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)145%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%157.14%
EPS Next Y226.77%
EPS Next 2Y71.2%
EPS Next 3Y65.04%
EPS Next 5Y34.82%
Revenue 1Y (TTM)61.34%
Revenue growth 3Y-1.36%
Revenue growth 5Y9.02%
Sales Q2Q%94.05%
Revenue Next Year90.5%
Revenue Next 2Y37.18%
Revenue Next 3Y33.83%
Revenue Next 5Y20.49%
EBIT growth 1Y474.86%
EBIT growth 3Y-30.34%
EBIT growth 5Y-8.55%
EBIT Next Year161.6%
EBIT Next 3Y39.9%
EBIT Next 5Y21.26%
FCF growth 1Y179.13%
FCF growth 3YN/A
FCF growth 5Y11.46%
OCF growth 1Y304.14%
OCF growth 3Y30.28%
OCF growth 5Y1.65%