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MAG Silver Corp (MAG.CA) Stock Fundamental Analysis

Canada - TSX:MAG - CA55903Q1046 - Common Stock

34.38 CAD
+0.97 (+2.9%)
Last: 9/5/2025, 7:00:00 PM
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to MAG. MAG was compared to 805 industry peers in the Metals & Mining industry. MAG has an average financial health and profitability rating. MAG has a valuation in line with the averages, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

In the past year MAG was profitable.
MAG had a negative operating cash flow in the past year.
Of the past 5 years MAG 4 years were profitable.
In the past 5 years MAG always reported negative operating cash flow.
MAG.CA Yearly Net Income VS EBIT VS OCF VS FCFMAG.CA 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 20M -20M 40M -40M 60M

1.2 Ratios

MAG's Return On Assets of 16.12% is amongst the best of the industry. MAG outperforms 96.60% of its industry peers.
Looking at the Return On Equity, with a value of 16.73%, MAG belongs to the top of the industry, outperforming 93.96% of the companies in the same industry.
The Return On Invested Capital of MAG (11.78%) is better than 95.97% of its industry peers.
MAG had an Average Return On Invested Capital over the past 3 years of 7.22%. This is below the industry average of 12.09%.
The 3 year average ROIC (7.22%) for MAG is below the current ROIC(11.78%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 16.12%
ROE 16.73%
ROIC 11.78%
ROA(3y)8.8%
ROA(5y)5.16%
ROE(3y)9.05%
ROE(5y)5.31%
ROIC(3y)7.22%
ROIC(5y)N/A
MAG.CA Yearly ROA, ROE, ROICMAG.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 -20 -30

1.3 Margins

With an excellent Profit Margin value of 83.12%, MAG belongs to the best of the industry, outperforming 98.99% of the companies in the same industry.
MAG has a Operating Margin of 83.87%. This is amongst the best in the industry. MAG outperforms 100.00% of its industry peers.
Industry RankSector Rank
OM 83.87%
PM (TTM) 83.12%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
MAG.CA Yearly Profit, Operating, Gross MarginsMAG.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

6

2. Health

2.1 Basic Checks

MAG has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
Compared to 1 year ago, MAG has more shares outstanding
Compared to 5 years ago, MAG has more shares outstanding
MAG has a worse debt/assets ratio than last year.
MAG.CA Yearly Shares OutstandingMAG.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
MAG.CA Yearly Total Debt VS Total AssetsMAG.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

2.2 Solvency

MAG has an Altman-Z score of 66.69. This indicates that MAG is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of MAG (66.69) is better than 87.80% of its industry peers.
MAG has a Debt/Equity ratio of 0.00. This is a healthy value indicating a solid balance between debt and equity.
MAG has a Debt to Equity ratio of 0.00. This is comparable to the rest of the industry: MAG outperforms 51.07% of its industry peers.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Altman-Z 66.69
ROIC/WACC1.27
WACC9.31%
MAG.CA Yearly LT Debt VS Equity VS FCFMAG.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M

2.3 Liquidity

MAG has a Current Ratio of 44.26. This indicates that MAG is financially healthy and has no problem in meeting its short term obligations.
Looking at the Current ratio, with a value of 44.26, MAG belongs to the top of the industry, outperforming 96.86% of the companies in the same industry.
A Quick Ratio of 44.26 indicates that MAG has no problem at all paying its short term obligations.
MAG's Quick ratio of 44.26 is amongst the best of the industry. MAG outperforms 96.86% of its industry peers.
Industry RankSector Rank
Current Ratio 44.26
Quick Ratio 44.26
MAG.CA Yearly Current Assets VS Current LiabilitesMAG.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M

3

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 67.80% over the past year.
MAG shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 132.08% yearly.
Looking at the last year, MAG shows a very strong growth in Revenue. The Revenue has grown by 42.67%.
EPS 1Y (TTM)67.8%
EPS 3Y132.08%
EPS 5YN/A
EPS Q2Q%52.38%
Revenue 1Y (TTM)42.67%
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%N/A

3.2 Future

Based on estimates for the next years, MAG will show a decrease in Earnings Per Share. The EPS will decrease by -2.33% on average per year.
Based on estimates for the next years, MAG will show a very negative growth in Revenue. The Revenue will decrease by -18.92% on average per year.
EPS Next Y48.94%
EPS Next 2Y6.23%
EPS Next 3Y5.42%
EPS Next 5Y-2.33%
Revenue Next Year9.79%
Revenue Next 2Y-0.19%
Revenue Next 3Y47.01%
Revenue Next 5Y-18.92%

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 decreasing.
MAG.CA Yearly Revenue VS EstimatesMAG.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2021 2022 2023 2024 2025 2026 2027 100M 200M 300M 400M
MAG.CA Yearly EPS VS EstimatesMAG.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0 0.2 -0.2 0.4 0.6 0.8 1

4

4. Valuation

4.1 Price/Earnings Ratio

MAG is valuated quite expensively with a Price/Earnings ratio of 25.09.
90.06% of the companies in the same industry are more expensive than MAG, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of MAG to the average of the S&P500 Index (27.42), we can say MAG is valued inline with the index average.
MAG is valuated quite expensively with a Price/Forward Earnings ratio of 29.33.
Based on the Price/Forward Earnings ratio, MAG is valued cheaply inside the industry as 87.42% of the companies are valued more expensively.
The average S&P500 Price/Forward Earnings ratio is at 22.94. MAG is valued slightly more expensive when compared to this.
Industry RankSector Rank
PE 25.09
Fwd PE 29.33
MAG.CA Price Earnings VS Forward Price EarningsMAG.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, MAG is valued cheaply inside the industry as 90.57% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 22.82
MAG.CA Per share dataMAG.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6 8

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.51
PEG (5Y)N/A
EPS Next 2Y6.23%
EPS Next 3Y5.42%

2

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 1.41%, MAG has a reasonable but not impressive dividend return.
MAG's Dividend Yield is rather good when compared to the industry average which is at 12.79. MAG pays more dividend than 97.23% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.36, MAG's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 1.41%

5.2 History

MAG does not have a reliable dividend history as it only pays dividend since a couple or years.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
MAG.CA Yearly Dividends per shareMAG.CA Yearly Dividends per shareYearly Dividends per share 2025 0.1 0.2 0.3 0.4 0.5

5.3 Sustainability

DPN/A
EPS Next 2Y6.23%
EPS Next 3Y5.42%
MAG.CA Yearly Income VS Free CF VS DividendMAG.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M -20M 40M -40M 60M

MAG Silver Corp

TSX:MAG (9/5/2025, 7:00:00 PM)

34.38

+0.97 (+2.9%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)08-11 2025-08-11/bmo
Earnings (Next)11-10 2025-11-10/amc
Inst Owners54.85%
Inst Owner ChangeN/A
Ins Owners0.26%
Ins Owner ChangeN/A
Market Cap3.56B
Analysts71.67
Price Target31.06 (-9.66%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.41%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-Date08-18 2025-08-18 (0.144)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)17.35%
Min EPS beat(2)12.05%
Max EPS beat(2)22.65%
EPS beat(4)3
Avg EPS beat(4)7.14%
Min EPS beat(4)-20.79%
Max EPS beat(4)22.65%
EPS beat(8)6
Avg EPS beat(8)4.92%
EPS beat(12)7
Avg EPS beat(12)-8.39%
EPS beat(16)8
Avg EPS beat(16)-49.22%
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
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)4.53%
PT rev (3m)9.56%
EPS NQ rev (1m)2.99%
EPS NQ rev (3m)36.68%
EPS NY rev (1m)27.77%
EPS NY rev (3m)27.77%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-59.81%
Revenue NY rev (3m)4.85%
Valuation
Industry RankSector Rank
PE 25.09
Fwd PE 29.33
P/S 20.64
P/FCF N/A
P/OCF N/A
P/B 4.15
P/tB 4.15
EV/EBITDA 22.82
EPS(TTM)1.37
EY3.98%
EPS(NY)1.17
Fwd EY3.41%
FCF(TTM)-0.4
FCFYN/A
OCF(TTM)-0.1
OCFYN/A
SpS1.67
BVpS8.28
TBVpS8.28
PEG (NY)0.51
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 16.12%
ROE 16.73%
ROCE 16.36%
ROIC 11.78%
ROICexc 16.12%
ROICexgc 16.12%
OM 83.87%
PM (TTM) 83.12%
GM N/A
FCFM N/A
ROA(3y)8.8%
ROA(5y)5.16%
ROE(3y)9.05%
ROE(5y)5.31%
ROIC(3y)7.22%
ROIC(5y)N/A
ROICexc(3y)8.87%
ROICexc(5y)N/A
ROICexgc(3y)8.87%
ROICexgc(5y)N/A
ROCE(3y)10.03%
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score4
Asset Turnover0.19
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Debt/EBITDA 0.02
Cap/Depr 3068.87%
Cap/Sales 17.9%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 44.26
Quick Ratio 44.26
Altman-Z 66.69
F-Score4
WACC9.31%
ROIC/WACC1.27
Cap/Depr(3y)5745.33%
Cap/Depr(5y)5254.94%
Cap/Sales(3y)27.23%
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)67.8%
EPS 3Y132.08%
EPS 5YN/A
EPS Q2Q%52.38%
EPS Next Y48.94%
EPS Next 2Y6.23%
EPS Next 3Y5.42%
EPS Next 5Y-2.33%
Revenue 1Y (TTM)42.67%
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%N/A
Revenue Next Year9.79%
Revenue Next 2Y-0.19%
Revenue Next 3Y47.01%
Revenue Next 5Y-18.92%
EBIT growth 1Y855.68%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year19.83%
EBIT Next 3Y-10.2%
EBIT Next 5Y-10.7%
FCF growth 1Y-40.15%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-10.83%
OCF growth 3YN/A
OCF growth 5YN/A