FIRST QUANTUM MINERALS LTD (FM.CA) Stock Fundamental Analysis

Canada • Toronto Stock Exchange • TSX:FM • CA3359341052

37.36 CAD
+1.78 (+5%)
Last: Feb 6, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

6

FM gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 812 industry peers in the Metals & Mining industry. While FM belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. FM has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • In the past year FM was profitable.
  • FM had a positive operating cash flow in the past year.
  • In multiple years FM reported negative net income over the last 5 years.
  • In the past 5 years FM always reported a positive cash flow from operatings.
FM.CA Yearly Net Income VS EBIT VS OCF VS FCFFM.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 1B 2B

1.2 Ratios

  • FM's Return On Assets of 0.19% is amongst the best of the industry. FM outperforms 84.64% of its industry peers.
  • With an excellent Return On Equity value of 0.41%, FM belongs to the best of the industry, outperforming 85.26% of the companies in the same industry.
  • Looking at the Return On Invested Capital, with a value of 3.33%, FM belongs to the top of the industry, outperforming 90.54% of the companies in the same industry.
  • FM had an Average Return On Invested Capital over the past 3 years of 4.33%. This is significantly below the industry average of 12.05%.
Industry RankSector Rank
ROA 0.19%
ROE 0.41%
ROIC 3.33%
ROA(3y)0.04%
ROA(5y)0.53%
ROE(3y)0.06%
ROE(5y)1.29%
ROIC(3y)4.33%
ROIC(5y)4.7%
FM.CA Yearly ROA, ROE, ROICFM.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5

1.3 Margins

  • FM's Profit Margin of 0.92% is amongst the best of the industry. FM outperforms 89.43% of its industry peers.
  • In the last couple of years the Profit Margin of FM has declined.
  • FM has a Operating Margin of 21.18%. This is amongst the best in the industry. FM outperforms 92.51% of its industry peers.
  • In the last couple of years the Operating Margin of FM has grown nicely.
  • FM has a Gross Margin of 28.84%. This is amongst the best in the industry. FM outperforms 90.42% of its industry peers.
  • FM's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 21.18%
PM (TTM) 0.92%
GM 28.84%
OM growth 3Y-15.13%
OM growth 5Y4.01%
PM growth 3Y-84.66%
PM growth 5YN/A
GM growth 3Y-7.5%
GM growth 5Y7.67%
FM.CA Yearly Profit, Operating, Gross MarginsFM.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20 30

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ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. Health

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.
  • Compared to 1 year ago, FM has more shares outstanding
  • The number of shares outstanding for FM has been increased compared to 5 years ago.
  • FM has a better debt/assets ratio than last year.
FM.CA Yearly Shares OutstandingFM.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M
FM.CA Yearly Total Debt VS Total AssetsFM.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B 25B

2.2 Solvency

  • FM has an Altman-Z score of 1.72. This is a bad value and indicates that FM is not financially healthy and even has some risk of bankruptcy.
  • The Altman-Z score of FM (1.72) is comparable to the rest of the industry.
  • The Debt to FCF ratio of FM is 4.67, which is a neutral value as it means it would take FM, 4.67 years of fcf income to pay off all of its debts.
  • The Debt to FCF ratio of FM (4.67) is better than 91.28% of its industry peers.
  • A Debt/Equity ratio of 0.59 indicates that FM is somewhat dependend on debt financing.
  • FM has a worse Debt to Equity ratio (0.59) than 71.87% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.59
Debt/FCF 4.67
Altman-Z 1.72
ROIC/WACC0.34
WACC9.79%
FM.CA Yearly LT Debt VS Equity VS FCFFM.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B 8B 10B

2.3 Liquidity

  • FM has a Current Ratio of 1.94. This is a normal value and indicates that FM is financially healthy and should not expect problems in meeting its short term obligations.
  • FM's Current ratio of 1.94 is in line compared to the rest of the industry. FM outperforms 50.86% of its industry peers.
  • A Quick Ratio of 1.08 indicates that FM should not have too much problems paying its short term obligations.
  • FM's Quick ratio of 1.08 is in line compared to the rest of the industry. FM outperforms 43.73% of its industry peers.
Industry RankSector Rank
Current Ratio 1.94
Quick Ratio 1.08
FM.CA Yearly Current Assets VS Current LiabilitesFM.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

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

6

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an impressive 108.89% over the past year.
  • The earnings per share for FM have been decreasing by -87.24% on average. This is quite bad
  • The Revenue has been growing slightly by 5.33% in the past year.
  • Measured over the past years, FM shows a small growth in Revenue. The Revenue has been growing by 3.38% on average per year.
EPS 1Y (TTM)108.89%
EPS 3Y-87.24%
EPS 5YN/A
EPS Q2Q%-114.29%
Revenue 1Y (TTM)5.33%
Revenue growth 3Y-12.68%
Revenue growth 5Y3.38%
Sales Q2Q%5.24%

3.2 Future

  • FM is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 135.91% yearly.
  • The Revenue is expected to grow by 16.19% on average over the next years. This is quite good.
EPS Next Y309.42%
EPS Next 2Y430.96%
EPS Next 3Y291.79%
EPS Next 5Y135.91%
Revenue Next Year7.66%
Revenue Next 2Y15.75%
Revenue Next 3Y23.81%
Revenue Next 5Y16.19%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • 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.
FM.CA Yearly Revenue VS EstimatesFM.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2B 4B 6B 8B 10B
FM.CA Yearly EPS VS EstimatesFM.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 1 2

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6

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 747.20 indicates a quite expensive valuation of FM.
  • Based on the Price/Earnings ratio, FM is valued cheaper than 85.14% of the companies in the same industry.
  • FM's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 27.93.
  • Based on the Price/Forward Earnings ratio of 26.09, the valuation of FM can be described as expensive.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of FM indicates a rather cheap valuation: FM is cheaper than 88.94% of the companies listed in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 27.77. FM is around the same levels.
Industry RankSector Rank
PE 747.2
Fwd PE 26.09
FM.CA Price Earnings VS Forward Price EarningsFM.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 200 400 600

4.2 Price Multiples

  • FM's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. FM is cheaper than 92.75% of the companies in the same industry.
  • FM's Price/Free Cash Flow ratio is rather cheap when compared to the industry. FM is cheaper than 97.79% of the companies in the same industry.
Industry RankSector Rank
P/FCF 14.77
EV/EBITDA 16.51
FM.CA Per share dataFM.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates FM does not grow enough to justify the current Price/Earnings ratio.
  • 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 291.79% in the coming years.
PEG (NY)2.41
PEG (5Y)N/A
EPS Next 2Y430.96%
EPS Next 3Y291.79%

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

5

5. Dividend

5.1 Amount

  • FM has a Yearly Dividend Yield of 2.78%.
  • Compared to an average industry Dividend Yield of 0.40, 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 1.81.
Industry RankSector 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
FM.CA Yearly Dividends per shareFM.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 0.05 0.1 0.15 0.2

5.3 Sustainability

DP0%
EPS Next 2Y430.96%
EPS Next 3Y291.79%
FM.CA Yearly Income VS Free CF VS DividendFM.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M 1B 1.5B

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FIRST QUANTUM MINERALS LTD

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

37.36

+1.78 (+5%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)10-28
Earnings (Next)02-10
Inst Owners52.32%
Inst Owner ChangeN/A
Ins Owners0.12%
Ins Owner ChangeN/A
Market Cap31.17B
Revenue(TTM)5.02B
Net Income(TTM)46.00M
Analysts76.77
Price Target41.48 (11.03%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector 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)1
Avg EPS beat(2)41.65%
Min EPS beat(2)-125.48%
Max EPS beat(2)208.78%
EPS beat(4)3
Avg EPS beat(4)53.93%
Min EPS beat(4)-125.48%
Max EPS beat(4)208.78%
EPS beat(8)5
Avg EPS beat(8)118.88%
EPS beat(12)7
Avg EPS beat(12)84.75%
EPS beat(16)8
Avg EPS beat(16)63.28%
Revenue beat(2)1
Avg Revenue beat(2)-2.94%
Min Revenue beat(2)-8.56%
Max Revenue beat(2)2.68%
Revenue beat(4)3
Avg Revenue beat(4)2.12%
Min Revenue beat(4)-8.56%
Max Revenue beat(4)11.74%
Revenue beat(8)6
Avg Revenue beat(8)4.77%
Revenue beat(12)7
Avg Revenue beat(12)2.69%
Revenue beat(16)8
Avg Revenue beat(16)0.92%
PT rev (1m)16.81%
PT rev (3m)24.72%
EPS NQ rev (1m)33.21%
EPS NQ rev (3m)24.76%
EPS NY rev (1m)-9.45%
EPS NY rev (3m)-42.7%
Revenue NQ rev (1m)2.57%
Revenue NQ rev (3m)3.56%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.63%
Valuation
Industry RankSector Rank
PE 747.2
Fwd PE 26.09
P/S 4.54
P/FCF 14.77
P/OCF 8.44
P/B 2.01
P/tB 2.06
EV/EBITDA 16.51
EPS(TTM)0.05
EY0.13%
EPS(NY)1.43
Fwd EY3.83%
FCF(TTM)2.53
FCFY6.77%
OCF(TTM)4.42
OCFY11.84%
SpS8.22
BVpS18.56
TBVpS18.17
PEG (NY)2.41
PEG (5Y)N/A
Graham Number4.57
Profitability
Industry RankSector Rank
ROA 0.19%
ROE 0.41%
ROCE 4.62%
ROIC 3.33%
ROICexc 3.47%
ROICexgc 3.51%
OM 21.18%
PM (TTM) 0.92%
GM 28.84%
FCFM 30.77%
ROA(3y)0.04%
ROA(5y)0.53%
ROE(3y)0.06%
ROE(5y)1.29%
ROIC(3y)4.33%
ROIC(5y)4.7%
ROICexc(3y)4.6%
ROICexc(5y)5.02%
ROICexgc(3y)4.65%
ROICexgc(5y)5.07%
ROCE(3y)6.03%
ROCE(5y)6.54%
ROICexgc growth 3Y-25.91%
ROICexgc growth 5Y7.47%
ROICexc growth 3Y-25.91%
ROICexc growth 5Y7.47%
OM growth 3Y-15.13%
OM growth 5Y4.01%
PM growth 3Y-84.66%
PM growth 5YN/A
GM growth 3Y-7.5%
GM growth 5Y7.67%
F-Score8
Asset Turnover0.2
Health
Industry RankSector Rank
Debt/Equity 0.59
Debt/FCF 4.67
Debt/EBITDA 3.82
Cap/Depr 166.24%
Cap/Sales 23.06%
Interest Coverage 1.66
Cash Conversion 153.55%
Profit Quality 3356.52%
Current Ratio 1.94
Quick Ratio 1.08
Altman-Z 1.72
F-Score8
WACC9.79%
ROIC/WACC0.34
Cap/Depr(3y)138%
Cap/Depr(5y)109.78%
Cap/Sales(3y)20.74%
Cap/Sales(5y)17.55%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)108.89%
EPS 3Y-87.24%
EPS 5YN/A
EPS Q2Q%-114.29%
EPS Next Y309.42%
EPS Next 2Y430.96%
EPS Next 3Y291.79%
EPS Next 5Y135.91%
Revenue 1Y (TTM)5.33%
Revenue growth 3Y-12.68%
Revenue growth 5Y3.38%
Sales Q2Q%5.24%
Revenue Next Year7.66%
Revenue Next 2Y15.75%
Revenue Next 3Y23.81%
Revenue Next 5Y16.19%
EBIT growth 1Y57.95%
EBIT growth 3Y-25.89%
EBIT growth 5Y7.52%
EBIT Next Year116.27%
EBIT Next 3Y80.82%
EBIT Next 5Y48.83%
FCF growth 1Y167.13%
FCF growth 3Y-42.2%
FCF growth 5YN/A
OCF growth 1Y45.92%
OCF growth 3Y-16.98%
OCF growth 5Y13.18%

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 6 / 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 7 / 10.


Can you provide the financial health for FM stock?

The financial health rating of FIRST QUANTUM MINERALS LTD (FM.CA) is 4 / 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%.