FIRST QUANTUM MINERALS LTD (FM.CA) Fundamental Analysis & Valuation
TSX:FM • CA3359341052
33.86 CAD
+0.35 (+1.04%)
Last: Mar 12, 2026, 07:00 PM
This FM.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
FM gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 815 industry peers in the Metals & Mining industry. FM has a medium profitability rating, but doesn't score so well on its financial health evaluation. FM is not valued too expensively and it also shows a decent growth rate.
1. FM.CA Profitability Analysis
1.1 Basic Checks
- FM had positive earnings in the past year.
- FM had a positive operating cash flow in the past year.
- The reported net income has been mixed in the past 5 years: FM reported negative net income in multiple years.
- Each year in the past 5 years FM had a positive operating cash flow.
1.2 Ratios
- FM's Return On Assets of -0.11% is amongst the best of the industry. FM outperforms 84.79% of its industry peers.
- With an excellent Return On Equity value of -0.25%, FM belongs to the best of the industry, outperforming 84.91% of the companies in the same industry.
- Looking at the Return On Invested Capital, with a value of 3.24%, FM belongs to the top of the industry, outperforming 90.67% of the companies in the same industry.
- The Average Return On Invested Capital over the past 3 years for FM is significantly below the industry average of 12.69%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.11% | ||
| ROE | -0.25% | ||
| ROIC | 3.24% |
ROA(3y)-1.37%
ROA(5y)0.66%
ROE(3y)-3.18%
ROE(5y)1.65%
ROIC(3y)3.34%
ROIC(5y)4.71%
1.3 Margins
- Looking at the Operating Margin, with a value of 19.40%, FM belongs to the top of the industry, outperforming 92.02% of the companies in the same industry.
- FM's Operating Margin has been stable in the last couple of years.
- FM has a better Gross Margin (27.84%) than 90.18% of its industry peers.
- FM's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 19.4% | ||
| PM (TTM) | N/A | ||
| GM | 27.84% |
OM growth 3Y-9.76%
OM growth 5Y0.89%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.18%
GM growth 5Y6.09%
2. FM.CA Health Analysis
2.1 Basic Checks
- FM has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
- FM has about the same amout of shares outstanding than it did 1 year ago.
- FM has more shares outstanding than it did 5 years ago.
- Compared to 1 year ago, FM has an improved debt to assets ratio.
2.2 Solvency
- FM has an Altman-Z score of 1.54. This is a bad value and indicates that FM is not financially healthy and even has some risk of bankruptcy.
- FM has a Altman-Z score of 1.54. This is comparable to the rest of the industry: FM outperforms 43.19% of its industry peers.
- FM has a debt to FCF ratio of 7.75. This is a slightly negative value and a sign of low solvency as FM would need 7.75 years to pay back of all of its debts.
- FM's Debt to FCF ratio of 7.75 is amongst the best of the industry. FM outperforms 90.67% of its industry peers.
- FM has a Debt/Equity ratio of 0.58. This is a neutral value indicating FM is somewhat dependend on debt financing.
- With a Debt to Equity ratio value of 0.58, FM is not doing good in the industry: 71.53% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.58 | ||
| Debt/FCF | 7.75 | ||
| Altman-Z | 1.54 |
ROIC/WACC0.32
WACC10.12%
2.3 Liquidity
- A Current Ratio of 1.42 indicates that FM should not have too much problems paying its short term obligations.
- The Current ratio of FM (1.42) is comparable to the rest of the industry.
- FM has a Quick Ratio of 1.42. This is a bad value and indicates that FM is not financially healthy enough and could expect problems in meeting its short term obligations.
- FM has a Quick ratio of 0.86. This is in the lower half of the industry: FM underperforms 61.23% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.42 | ||
| Quick Ratio | 0.86 |
3. FM.CA Growth Analysis
3.1 Past
- FM shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 125.00%, which is quite impressive.
- The earnings per share for FM have been decreasing by -81.38% on average. This is quite bad
- FM shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 9.06%.
- FM shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 0.15% yearly.
EPS 1Y (TTM)125%
EPS 3Y-81.38%
EPS 5YN/A
EPS Q2Q%-75%
Revenue 1Y (TTM)9.06%
Revenue growth 3Y-11.77%
Revenue growth 5Y0.15%
Sales Q2Q%17.44%
3.2 Future
- FM is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 184.51% yearly.
- The Revenue is expected to grow by 12.25% on average over the next years. This is quite good.
EPS Next Y8022.89%
EPS Next 2Y1409.7%
EPS Next 3Y549.33%
EPS Next 5Y184.51%
Revenue Next Year26.79%
Revenue Next 2Y36.43%
Revenue Next 3Y27.98%
Revenue Next 5Y12.25%
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 accelerating.
4. FM.CA Valuation Analysis
4.1 Price/Earnings Ratio
- FM is valuated quite expensively with a Price/Earnings ratio of 3386.00.
- Based on the Price/Earnings ratio, FM is valued cheaper than 85.40% of the companies in the same industry.
- FM is valuated expensively when we compare the Price/Earnings ratio to 25.71, which is the current average of the S&P500 Index.
- With a Price/Forward Earnings ratio of 30.67, FM can be considered very expensive at the moment.
- FM's Price/Forward Earnings ratio is rather cheap when compared to the industry. FM is cheaper than 87.85% of the companies in the same industry.
- When comparing the Price/Forward Earnings ratio of FM to the average of the S&P500 Index (23.82), we can say FM is valued slightly more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 3386 | ||
| Fwd PE | 30.67 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, FM is valued cheaper than 92.64% of the companies in the same industry.
- Based on the Price/Free Cash Flow ratio, FM is valued cheaper than 95.21% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 21.99 | ||
| EV/EBITDA | 15.63 |
4.3 Compensation for Growth
- FM's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
- FM has a very decent profitability rating, which may justify a higher PE ratio.
- A more expensive valuation may be justified as FM's earnings are expected to grow with 549.33% in the coming years.
PEG (NY)0.42
PEG (5Y)N/A
EPS Next 2Y1409.7%
EPS Next 3Y549.33%
5. FM.CA Dividend Analysis
5.1 Amount
- FM has a Yearly Dividend Yield of 2.78%. Purely for dividend investing, there may be better candidates out there.
- Compared to an average industry Dividend Yield of 0.41, FM pays a better dividend. On top of this FM pays more dividend than 98.65% of the companies listed in the same industry.
- FM's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.78% |
5.2 History
- FM has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
DP0%
EPS Next 2Y1409.7%
EPS Next 3Y549.33%
FM.CA Fundamentals: All Metrics, Ratios and Statistics
TSX:FM (3/12/2026, 7:00:00 PM)
33.86
+0.35 (+1.04%)
Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)02-10 2026-02-10/amc
Earnings (Next)04-28 2026-04-28
Inst Owners52.17%
Inst Owner ChangeN/A
Ins Owners0.12%
Ins Owner ChangeN/A
Market Cap28.25B
Revenue(TTM)5.24B
Net Income(TTM)-28.00M
Analysts77.42
Price Target43.02 (27.05%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.78% |
Yearly Dividend0
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-105.25%
Min EPS beat(2)-125.48%
Max EPS beat(2)-85.02%
EPS beat(4)2
Avg EPS beat(4)24.57%
Min EPS beat(4)-125.48%
Max EPS beat(4)208.78%
EPS beat(8)5
Avg EPS beat(8)138.11%
EPS beat(12)6
Avg EPS beat(12)76.93%
EPS beat(16)8
Avg EPS beat(16)58.13%
Revenue beat(2)1
Avg Revenue beat(2)-1.53%
Min Revenue beat(2)-8.56%
Max Revenue beat(2)5.51%
Revenue beat(4)3
Avg Revenue beat(4)2.84%
Min Revenue beat(4)-8.56%
Max Revenue beat(4)11.74%
Revenue beat(8)7
Avg Revenue beat(8)6.14%
Revenue beat(12)8
Avg Revenue beat(12)3.21%
Revenue beat(16)9
Avg Revenue beat(16)1.76%
PT rev (1m)3.71%
PT rev (3m)23.3%
EPS NQ rev (1m)-6.77%
EPS NQ rev (3m)51.48%
EPS NY rev (1m)-22.47%
EPS NY rev (3m)-8.51%
Revenue NQ rev (1m)-10.46%
Revenue NQ rev (3m)-5.2%
Revenue NY rev (1m)2.73%
Revenue NY rev (3m)3.43%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 3386 | ||
| Fwd PE | 30.67 | ||
| P/S | 3.97 | ||
| P/FCF | 21.99 | ||
| P/OCF | 10 | ||
| P/B | 1.86 | ||
| P/tB | 1.9 | ||
| EV/EBITDA | 15.63 |
EPS(TTM)0.01
EY0.03%
EPS(NY)1.1
Fwd EY3.26%
FCF(TTM)1.54
FCFY4.55%
OCF(TTM)3.39
OCFY10%
SpS8.53
BVpS18.19
TBVpS17.81
PEG (NY)0.42
PEG (5Y)N/A
Graham Number2.02
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.11% | ||
| ROE | -0.25% | ||
| ROCE | 4.52% | ||
| ROIC | 3.24% | ||
| ROICexc | 3.35% | ||
| ROICexgc | 3.39% | ||
| OM | 19.4% | ||
| PM (TTM) | N/A | ||
| GM | 27.84% | ||
| FCFM | 18.04% |
ROA(3y)-1.37%
ROA(5y)0.66%
ROE(3y)-3.18%
ROE(5y)1.65%
ROIC(3y)3.34%
ROIC(5y)4.71%
ROICexc(3y)3.48%
ROICexc(5y)5.02%
ROICexgc(3y)3.52%
ROICexgc(5y)5.08%
ROCE(3y)4.66%
ROCE(5y)6.56%
ROICexgc growth 3Y-20.61%
ROICexgc growth 5Y0.13%
ROICexc growth 3Y-20.61%
ROICexc growth 5Y0.14%
OM growth 3Y-9.76%
OM growth 5Y0.89%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.18%
GM growth 5Y6.09%
F-Score4
Asset Turnover0.21
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.58 | ||
| Debt/FCF | 7.75 | ||
| Debt/EBITDA | 3.77 | ||
| Cap/Depr | 157.94% | ||
| Cap/Sales | 21.65% | ||
| Interest Coverage | 1.93 | ||
| Cash Conversion | 119.9% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.42 | ||
| Quick Ratio | 0.86 | ||
| Altman-Z | 1.54 |
F-Score4
WACC10.12%
ROIC/WACC0.32
Cap/Depr(3y)159.02%
Cap/Depr(5y)131.34%
Cap/Sales(3y)22.86%
Cap/Sales(5y)19.53%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)125%
EPS 3Y-81.38%
EPS 5YN/A
EPS Q2Q%-75%
EPS Next Y8022.89%
EPS Next 2Y1409.7%
EPS Next 3Y549.33%
EPS Next 5Y184.51%
Revenue 1Y (TTM)9.06%
Revenue growth 3Y-11.77%
Revenue growth 5Y0.15%
Sales Q2Q%17.44%
Revenue Next Year26.79%
Revenue Next 2Y36.43%
Revenue Next 3Y27.98%
Revenue Next 5Y12.25%
EBIT growth 1Y3.67%
EBIT growth 3Y-20.38%
EBIT growth 5Y1.04%
EBIT Next Year165.46%
EBIT Next 3Y78.37%
EBIT Next 5Y36.06%
FCF growth 1Y158.9%
FCF growth 3Y-6.79%
FCF growth 5Y-1.18%
OCF growth 1Y25.92%
OCF growth 3Y-3.78%
OCF growth 5Y5.21%
FIRST QUANTUM MINERALS LTD / FM.CA FAQ
Can you provide the ChartMill fundamental rating for FIRST QUANTUM MINERALS LTD?
ChartMill assigns a fundamental rating of 5 / 10 to FM.CA.
Can you provide the valuation status for FIRST QUANTUM MINERALS LTD?
ChartMill assigns a valuation rating of 6 / 10 to FIRST QUANTUM MINERALS LTD (FM.CA). This can be considered as Fairly Valued.
How profitable is FIRST QUANTUM MINERALS LTD (FM.CA) stock?
FIRST QUANTUM MINERALS LTD (FM.CA) has a profitability rating of 6 / 10.
Can you provide the financial health for FM stock?
The financial health rating of FIRST QUANTUM MINERALS LTD (FM.CA) is 3 / 10.
Is the dividend of FIRST QUANTUM MINERALS LTD sustainable?
The dividend rating of FIRST QUANTUM MINERALS LTD (FM.CA) is 5 / 10 and the dividend payout ratio is 0%.