First Majestic Silver Corp. (AG) Financial Ratios
25 years of historical data (2001–2025) · Basic Materials · Silver
EV/EBITDA
↓
13.21
↓-18% vs avg
5yr avg: 16.16
30Y Low10.8·High94.8
P/FCF
↓
25.28
↓-25% vs avg
5yr avg: 33.50
30Y Low23.0·High115.4
P/B Ratio
↑
2.75
↑+62% vs avg
5yr avg: 1.70
30Y Low0.8·High5.6
ROE
↑
7.4%
↓+302% vs avg
5yr avg: -3.7%
30Y Low-348%·High34%
Debt/EBITDA
↓
0.49
↓-68% vs avg
5yr avg: 1.56
30Y Low0.1·High7.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
AG Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
First Majestic Silver Corp. trades at 51.4x earnings, 8% above its 5-year average of 47.6x, sitting at the 57th percentile of its historical range. Compared to the Basic Materials sector median P/E of 23.6x, the stock trades at a premium of 118%. On a free-cash-flow basis, the stock trades at 25.3x P/FCF, 25% below the 5-year average of 33.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $8.9B | $8.1B | $1.6B | $1.7B | $2.2B | $2.7B | $2.9B | $2.5B | $1.1B | $1.1B | $1.3B |
| Enterprise Value | $8.4B | $7.6B | $1.7B | $1.9B | $2.3B | $2.7B | $2.8B | $2.5B | $1.2B | $1.0B | $1.2B |
| P/E Ratio → | 51.43 | 47.60 | — | — | — | — | 122.18 | — | — | — | 152.60 |
| P/S Ratio | 6.95 | 6.31 | 2.89 | 3.01 | 3.50 | 4.63 | 7.91 | 6.70 | 3.51 | 4.22 | 4.18 |
| P/B Ratio | 2.75 | 2.55 | 1.20 | 1.28 | 1.55 | 1.93 | 3.41 | 3.73 | 1.82 | 1.91 | 2.02 |
| P/FCF | 25.28 | 22.96 | 44.03 | — | — | — | — | 115.41 | — | — | 33.37 |
| P/OCF | 15.71 | 14.26 | 10.68 | 35.88 | 170.18 | 39.57 | 36.40 | 17.65 | 32.52 | 15.81 | 12.53 |
P/E links to full P/E history page with 30-year chart
AG EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
First Majestic Silver Corp.'s enterprise value stands at 13.2x EBITDA, 18% below its 5-year average of 16.2x. The Basic Materials sector median is 11.0x, placing the stock at a 20% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.94 | 2.96 | 3.24 | 3.65 | 4.60 | 7.71 | 6.73 | 3.83 | 3.91 | 3.92 |
| EV / EBITDA | 13.21 | 11.93 | 13.27 | — | 23.32 | 16.13 | 29.24 | 70.40 | — | 94.85 | 10.85 |
| EV / EBIT | 23.62 | 21.33 | — | — | — | 71.48 | 67.61 | — | — | — | 44.86 |
| EV / FCF | — | 21.60 | 44.97 | — | — | — | — | 115.82 | — | — | 31.33 |
AG Profitability
Margins and return-on-capital ratios measuring operating efficiency
First Majestic Silver Corp. earns an operating margin of 27.8%, significantly above the Basic Materials sector average of 10.3%. Operating margins have expanded from -31.0% to 27.8% over the past 3 years, signaling improving operational efficiency. ROE of 7.4% is modest. ROIC of 13.1% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 34.8% | 34.8% | 34.3% | 4.4% | 2.7% | 17.3% | 28.7% | 18.4% | -4.5% | 6.1% | 16.4% |
| Operating Margin | 27.8% | 27.8% | -0.7% | -31.0% | -6.3% | 8.4% | 11.0% | -8.7% | -80.8% | -26.9% | 9.4% |
| Net Profit Margin | 13.1% | 13.1% | -18.2% | -23.4% | -18.2% | -0.8% | 6.3% | -11.0% | -66.2% | -20.2% | 2.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.4% | 7.4% | -7.5% | -9.8% | -8.1% | -0.4% | 3.1% | -6.4% | -34.7% | -8.8% | 1.5% |
| ROA | 5.0% | 5.0% | -5.2% | -6.6% | -5.4% | -0.3% | 2.1% | -4.2% | -23.9% | -6.5% | 1.0% |
| ROIC | 13.1% | 13.1% | -0.2% | -9.0% | -2.0% | 3.4% | 4.2% | -3.5% | -31.4% | -10.2% | 3.8% |
| ROCE | 11.7% | 11.7% | -0.2% | -9.4% | -2.0% | 3.2% | 3.9% | -3.5% | -31.3% | -9.3% | 3.7% |
AG Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
First Majestic Silver Corp. carries a Debt/EBITDA ratio of 0.5x, which is very conservative (80% below the sector average of 2.4x). The company holds a net cash position — cash of $792M exceeds total debt of $314M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 23.6x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.10 | 0.10 | 0.18 | 0.19 | 0.18 | 0.16 | 0.19 | 0.27 | 0.26 | 0.06 | 0.08 |
| Debt / EBITDA | 0.49 | 0.49 | 1.90 | — | 2.52 | 1.32 | 1.69 | 5.04 | — | 3.12 | 0.48 |
| Net Debt / Equity | — | -0.15 | 0.03 | 0.10 | 0.07 | -0.01 | -0.09 | 0.01 | 0.17 | -0.14 | -0.12 |
| Net Debt / EBITDA | -0.75 | -0.75 | 0.28 | — | 0.98 | -0.10 | -0.78 | 0.24 | — | -7.76 | -0.71 |
| Debt / FCF | — | -1.36 | 0.93 | — | — | — | — | 0.40 | — | — | -2.05 |
| Interest Coverage | 23.64 | 23.64 | -0.71 | -11.85 | -3.90 | 2.22 | 3.46 | -2.19 | -18.67 | -25.75 | 7.99 |
Net cash position: cash ($792M) exceeds total debt ($314M)
AG Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
First Majestic Silver Corp.'s current ratio of 2.60x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.60 | 2.60 | 2.56 | 2.57 | 2.21 | 2.30 | 3.50 | 3.38 | 2.86 | 3.14 | 3.64 |
| Quick Ratio | 2.41 | 2.41 | 2.12 | 2.04 | 1.83 | 1.95 | 3.18 | 2.96 | 2.30 | 2.79 | 3.23 |
| Cash Ratio | 2.12 | 2.12 | 1.75 | 1.56 | 1.11 | 1.53 | 2.70 | 2.44 | 1.09 | 2.38 | 2.88 |
| Asset Turnover | — | 0.27 | 0.28 | 0.29 | 0.30 | 0.28 | 0.30 | 0.36 | 0.33 | 0.34 | 0.35 |
| Inventory Turnover | 9.86 | 9.86 | 5.89 | 8.65 | 9.42 | 8.01 | 8.05 | 9.86 | 9.93 | 13.14 | 12.39 |
| Days Sales Outstanding | — | 34.79 | 30.06 | 30.83 | 24.00 | 33.73 | 45.70 | 33.58 | 78.40 | 28.87 | 8.44 |
AG Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
First Majestic Silver Corp. returns 0.2% to shareholders annually — split between a 0.1% dividend yield and 0.1% buyback yield. The payout ratio of 6.0% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 1.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.1% | 0.1% | 0.3% | 0.3% | 0.3% | 0.1% | — | — | — | — | — |
| Payout Ratio | 6.0% | 6.0% | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.9% | 2.1% | — | — | — | — | 0.8% | — | — | — | 0.7% |
| FCF Yield | 4.0% | 4.4% | 2.3% | — | — | — | — | 0.9% | — | — | 3.0% |
| Buyback Yield | 0.1% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | 0.1% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.2% | 0.2% | 0.3% | 0.3% | 0.3% | 0.1% | 0.1% | 0.0% | 0.1% | 0.0% | 0.0% |
| Shares Outstanding | — | $485M | $296M | $282M | $263M | $245M | $216M | $202M | $184M | $165M | $164M |
Peer Comparison
Compare AG with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 AGYou | $9B | 51.4 | 13.2 | 25.3 | 34.8% | 27.8% | 7.4% | 13.1% | 0.5 |
 PAAS | $21B | 18.8 | 11.8 | 19.1 | 37.7% | 32.3% | 17.0% | 15.7% | 0.5 |
 HL | $11B | 32.6 | 15.2 | 34.5 | 41.1% | 37.5% | 13.9% | 15.3% | 0.4 |
 CDE | $11B | 19.5 | 11.0 | 17.1 | 39.3% | 36.3% | 26.4% | 23.5% | 0.4 |
 EXK | $3B | -20.0 | 91.0 | — | 11.0% | 6.0% | -22.8% | 3.8% | 8.6 |
 AEM | $83B | 18.8 | 10.2 | 19.6 | 58.1% | 53.1% | 19.6% | 21.9% | 0.0 |
 KGC | $32B | 13.4 | 7.2 | 12.4 | 47.5% | 43.2% | 31.0% | 29.9% | 0.2 |
 AU | $46B | 17.5 | 8.3 | 14.8 | 46.5% | 45.1% | 28.6% | 35.9% | 0.4 |
 WPM | $56B | 37.3 | 28.2 | 97.0 | 72.2% | 68.8% | 18.8% | 17.4% | 0.0 |
 NEM | $115B | 16.2 | 8.2 | 15.8 | 49.8% | 46.9% | 22.1% | 24.9% | 0.0 |
 CAT | $459B | 52.4 | 36.5 | 44.6 | 32.3% | 16.6% | 43.5% | 15.9% | 3.2 |
| Basic Materials Median | — | 23.6 | 11.0 | 29.0 | 30.9% | 10.3% | -0.0% | 4.6% | 2.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 25 years · Updated daily
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AG — Frequently Asked Questions
Quick answers to the most common questions about buying AG stock.
What is First Majestic Silver Corp.'s P/E ratio?
First Majestic Silver Corp.'s current P/E ratio is 51.4x. The historical average is 66.4x. This places it at the 57th percentile of its historical range.
What is First Majestic Silver Corp.'s EV/EBITDA?
First Majestic Silver Corp.'s current EV/EBITDA is 13.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 33.9x.
What is First Majestic Silver Corp.'s ROE?
First Majestic Silver Corp.'s return on equity (ROE) is 7.4%. The historical average is -24.5%.
Is AG stock overvalued?
Based on historical data, First Majestic Silver Corp. is trading at a P/E of 51.4x. This is at the 57th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is First Majestic Silver Corp.'s dividend yield?
First Majestic Silver Corp.'s current dividend yield is 0.11% with a payout ratio of 6.0%.
What are First Majestic Silver Corp.'s profit margins?
First Majestic Silver Corp. has 34.8% gross margin and 27.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does First Majestic Silver Corp. have?
First Majestic Silver Corp.'s Debt/EBITDA ratio is 0.5x, indicating low leverage. A ratio below 2x is generally considered financially healthy.