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MAG Silver Corp (MAG) Stock Fundamental Analysis

USA - NYSEARCA:MAG - CA55903Q1046 - Common Stock

24.47 USD
-0.29 (-1.17%)
Last: 9/3/2025, 8:04:00 PM
24.55 USD
+0.08 (+0.33%)
After Hours: 9/3/2025, 8:04:00 PM
Fundamental Rating

4

Overall MAG gets a fundamental rating of 4 out of 10. We evaluated MAG against 156 industry peers in the Metals & Mining industry. MAG has only an average score on both its financial health and profitability. MAG does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year MAG was profitable.
In the past year MAG has reported a negative cash flow from operations.
MAG had positive earnings in 4 of the past 5 years.
In the past 5 years MAG always reported negative operating cash flow.
MAG Yearly Net Income VS EBIT VS OCF VS FCFMAG 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 has a Return On Assets of 16.12%. This is amongst the best in the industry. MAG outperforms 96.15% 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 89.10% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 12.93%, MAG belongs to the top of the industry, outperforming 90.38% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for MAG is below the industry average of 12.18%.
The last Return On Invested Capital (12.93%) for MAG is above the 3 year average (7.92%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 16.12%
ROE 16.73%
ROIC 12.93%
ROA(3y)8.8%
ROA(5y)5.16%
ROE(3y)9.05%
ROE(5y)5.31%
ROIC(3y)7.92%
ROIC(5y)N/A
MAG Yearly ROA, ROE, ROICMAG 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

The Profit Margin of MAG (83.12%) is better than 99.36% of its industry peers.
With an excellent Operating Margin value of 83.87%, MAG belongs to the best of the industry, outperforming 99.36% of the companies in the same industry.
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 Yearly Profit, Operating, Gross MarginsMAG Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

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6

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), MAG is creating some value.
MAG has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, MAG has more shares outstanding
The debt/assets ratio for MAG is higher compared to a year ago.
MAG Yearly Shares OutstandingMAG Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
MAG Yearly Total Debt VS Total AssetsMAG 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 65.75. This indicates that MAG is financially healthy and has little risk of bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 65.75, MAG belongs to the top of the industry, outperforming 91.67% of the companies in the same industry.
A Debt/Equity ratio of 0.00 indicates that MAG is not too dependend on debt financing.
MAG's Debt to Equity ratio of 0.00 is fine compared to the rest of the industry. MAG outperforms 78.85% of its industry peers.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Altman-Z 65.75
ROIC/WACC1.39
WACC9.31%
MAG Yearly LT Debt VS Equity VS FCFMAG 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

A Current Ratio of 44.26 indicates that MAG has no problem at all paying its short term obligations.
MAG's Current ratio of 44.26 is amongst the best of the industry. MAG outperforms 98.08% of its industry peers.
MAG has a Quick Ratio of 44.26. This indicates that MAG is financially healthy and has no problem in meeting its short term obligations.
MAG has a better Quick ratio (44.26) than 98.08% of its industry peers.
Industry RankSector Rank
Current Ratio 44.26
Quick Ratio 44.26
MAG Yearly Current Assets VS Current LiabilitesMAG Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M

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3

3. Growth

3.1 Past

MAG shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 67.80%, which is quite impressive.
The Earnings Per Share has been growing by 132.08% on average over the past years. This is a very strong growth
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.
The Revenue is expected to decrease by -18.92% on average over the next years. This is quite bad
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 Yearly Revenue VS EstimatesMAG Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2021 2022 2023 2024 2025 2026 2027 100M 200M 300M 400M
MAG Yearly EPS VS EstimatesMAG 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

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2

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 24.72, MAG is valued on the expensive side.
Based on the Price/Earnings ratio, MAG is valued a bit cheaper than 73.72% of the companies in the same industry.
MAG is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.29, which is the current average of the S&P500 Index.
MAG is valuated quite expensively with a Price/Forward Earnings ratio of 28.91.
Compared to the rest of the industry, the Price/Forward Earnings ratio of MAG is on the same level as its industry peers.
When comparing the Price/Forward Earnings ratio of MAG to the average of the S&P500 Index (22.85), we can say MAG is valued slightly more expensively.
Industry RankSector Rank
PE 24.72
Fwd PE 28.91
MAG Price Earnings VS Forward Price EarningsMAG Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of MAG is on the same level as its industry peers.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 22.47
MAG Per share dataMAG EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4

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%

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2

5. Dividend

5.1 Amount

MAG has a Yearly Dividend Yield of 1.41%. Purely for dividend investing, there may be better candidates out there.
MAG's Dividend Yield is a higher than the industry average which is at 2.41.
Compared to an average S&P500 Dividend Yield of 2.38, MAG's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 1.41%

5.2 History

MAG is new to the dividend game and has less than 3 years of track record.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
MAG Yearly Dividends per shareMAG 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 Yearly Income VS Free CF VS DividendMAG 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

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MAG Silver Corp

NYSEARCA:MAG (9/3/2025, 8:04:00 PM)

After market: 24.55 +0.08 (+0.33%)

24.47

-0.29 (-1.17%)

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 Change-0.16%
Ins Owners0.26%
Ins Owner ChangeN/A
Market Cap2.53B
Analysts71.67
Price Target22.33 (-8.75%)
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)0.56%
PT rev (3m)8.17%
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 24.72
Fwd PE 28.91
P/S 20.34
P/FCF N/A
P/OCF N/A
P/B 4.09
P/tB 4.09
EV/EBITDA 22.47
EPS(TTM)0.99
EY4.05%
EPS(NY)0.85
Fwd EY3.46%
FCF(TTM)-0.29
FCFYN/A
OCF(TTM)-0.07
OCFYN/A
SpS1.2
BVpS5.98
TBVpS5.98
PEG (NY)0.51
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 16.12%
ROE 16.73%
ROCE 16.36%
ROIC 12.93%
ROICexc 17.69%
ROICexgc 17.69%
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)7.92%
ROIC(5y)N/A
ROICexc(3y)9.73%
ROICexc(5y)N/A
ROICexgc(3y)9.73%
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 65.75
F-Score4
WACC9.31%
ROIC/WACC1.39
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