Operating margins reached 57.4% in 2026Q1, reflecting significant structural efficiency gains as gross margins expanded from 34.5% in 2023Q4 to 63.9%.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 |
|---|
| Sales/Revenue | 2.07B | 1.81B | 1.35B | 1.02B | 821.2M | 823.6M | 748.1M | 683.1M | 651.8M | 542.8M | 482.2M | 355.1M | 288.3M | 282.19M | 329.37M | 227.36M | 189.27M | 171.43M | 132.97M | 74.03M | 54.66M | 2.73M | 0 | 0 | 0 | 0 | 0 | 69.78K |
| Revenue Growth % | 47.47% | 34.57% | 31.62% | 24.61% | -0.29% | 10.09% | 9.52% | 4.8% | 20.08% | 12.57% | 35.79% | 23.17% | 2.17% | -14.33% | 44.87% | 20.13% | 10.41% | 28.92% | 79.63% | 35.44% | 1904.68% | - | - | - | - | - | -100% | - |
| Cost of Goods Sold | 845.31M | 828.09M | 751.1M | 637.7M | 608.9M | 534.1M | 475.5M | 521.4M | 639.4M | 456.8M | 429.3M | 384M | 318.5M | 154.84M | 137.26M | 88.45M | 76.14M | 58.2M | 58.96M | 45.97M | 29.03M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | 45.69% | 55.77% | 62.32% | 74.15% | 64.85% | 63.56% | 76.33% | 98.1% | 84.16% | 89.03% | 108.14% | 110.48% | 54.87% | 41.67% | 38.9% | 40.23% | 33.95% | 44.34% | 62.1% | 53.12% | - | - | - | - | - | - | - |
| Gross Profit | 1.22B | 984.43M | 595.8M | 385.6M | 212.3M | 289.5M | 272.6M | 161.7M | 12.4M | 86M | 52.9M | -28.9M | -30.2M | 127.35M | 192.12M | 138.92M | 113.14M | 113.23M | 74.02M | 28.06M | 25.62M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Margin % | 59.12% | 54.31% | 44.23% | 37.68% | 25.85% | 35.15% | 36.44% | 23.67% | 1.9% | 15.84% | 10.97% | -8.14% | -10.48% | 45.13% | 58.33% | 61.1% | 59.77% | 66.05% | 55.66% | 37.9% | 46.88% | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | 65.23% | 54.51% | 81.63% | -26.67% | 6.2% | 68.58% | 1204.03% | -85.58% | 62.57% | 283.05% | 4.3% | -123.71% | -33.71% | 38.3% | 22.79% | -0.08% | 52.97% | 163.81% | 9.49% | - | - | - | - | - | - | - | - |
| Operating Expenses | 103.54M | 177.28M | 33.9M | 67.5M | 100.8M | 274.6M | 45M | 35.7M | 35M | 30M | 31.6M | 463.7M | 118.5M | 32.7M | 28.3M | 32.68M | 33.08M | 40.78M | 34.32M | 20.47M | 18.07M | 8.88M | 3.45M | 1.44M | 454.06K | 883.7K | 300.14K | 744.94K |
| OpEx % of Revenue | - | 9.78% | 2.52% | 6.6% | 12.27% | 33.34% | 6.02% | 5.23% | 5.37% | 5.53% | 6.55% | 130.58% | 41.1% | 11.59% | 8.59% | 14.37% | 17.48% | 23.79% | 25.81% | 27.65% | 33.07% | 325.69% | - | - | - | - | - | 1067.54% |
| Selling, General & Admin | 94.74M | 94.28M | 64.3M | 49.3M | 44.2M | 35.6M | 31.3M | 29M | 24M | 23M | 26.5M | 24.9M | 25.9M | 25.14M | 21.81M | 23.14M | 25.49M | 12.28M | 9.4M | 7.15M | 5.77M | 6.2M | 3.36M | 1.38M | 428.61K | 821.21K | 258.36K | 103.78K |
| SG&A % of Revenue | - | 5.2% | 4.77% | 4.82% | 5.38% | 4.32% | 4.18% | 4.25% | 3.68% | 4.24% | 5.5% | 7.01% | 8.98% | 8.91% | 6.62% | 10.18% | 13.47% | 7.17% | 7.07% | 9.65% | 10.56% | 227.53% | - | - | - | - | - | 148.72% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 83M | -30.4M | 18.2M | 56.6M | 239M | 13.7M | 6.7M | 11M | 7M | 5.1M | 438.8M | 92.6M | 7.56M | 6.49M | 9.54M | 7.59M | 28.5M | 24.92M | 13.32M | 12.3M | 2.68M | 90.27K | 60.31K | 25.45K | 62.48K | 41.78K | 641.16K |
| Operating Income | 1.12B | 807.15M | 561.9M | 318.1M | 111.5M | 14.9M | 227.6M | 126M | -22.6M | 56M | 21.3M | -492.6M | -148.7M | 94.65M | 163.82M | 106.24M | 80.06M | 72.44M | 39.69M | 7.59M | 7.55M | -6.15M | -3.45M | -1.44M | -454.06K | -883.7K | -300.14K | -675.16K |
| Operating Margin % | 54.12% | 44.53% | 41.72% | 31.09% | 13.58% | 1.81% | 30.42% | 18.45% | -3.47% | 10.32% | 4.42% | -138.72% | -51.58% | 33.54% | 49.74% | 46.73% | 42.3% | 42.26% | 29.85% | 10.25% | 13.82% | -225.69% | - | - | - | - | - | -967.54% |
| Operating Income Growth % | - | 43.65% | 76.64% | 185.29% | 648.32% | -93.45% | 80.63% | 657.52% | -140.36% | 162.91% | 104.32% | -231.27% | -257.11% | -42.22% | 54.2% | 32.71% | 10.51% | 82.51% | 422.94% | 0.5% | 222.74% | -78.38% | -139.83% | -216.77% | 48.62% | -194.43% | 55.55% | - |
| EBITDA | 1.33B | 1.02B | 780.3M | 508.3M | 283M | 185.8M | 381.4M | 291M | 144M | 181.6M | 140.3M | -375.1M | -27.2M | 151.13M | 214.49M | 129.66M | 100.54M | 95.23M | 60.42M | 18.59M | 15.67M | -5.12M | -3.36M | -1.38M | -428.61K | -861.63K | -290.97K | -608.3K |
| EBITDA Margin % | 64.25% | 56.39% | 57.93% | 49.67% | 34.46% | 22.56% | 50.98% | 42.6% | 22.09% | 33.46% | 29.1% | -105.63% | -9.43% | 53.56% | 65.12% | 57.03% | 53.12% | 55.55% | 45.43% | 25.11% | 28.68% | -187.81% | - | - | - | - | - | -871.73% |
| EBITDA Growth % | 83.01% | 30.99% | 53.51% | 79.61% | 52.31% | -51.28% | 31.07% | 102.08% | -20.7% | 29.44% | 137.4% | -1279.04% | -118% | -29.54% | 65.43% | 28.96% | 5.58% | 57.62% | 224.99% | 18.6% | 406.11% | -52.43% | -143.78% | -221.51% | 50.26% | -196.13% | 52.17% | - |
| D&A (Non-Cash Add-back) | 209.52M | 214.96M | 218.4M | 190.2M | 171.5M | 170.9M | 153.8M | 165M | 166.6M | 125.6M | 119M | 117.5M | 121.5M | 56.49M | 50.68M | 23.42M | 20.49M | 22.78M | 20.72M | 11M | 8.12M | 1.03M | 90.27K | 60.31K | 25.45K | 22.07K | 9.17K | 66.85K |
| EBIT | 1.22B | 977.42M | 516.6M | 304M | 108.1M | 6.8M | 222.5M | 131.4M | -35.4M | 28.8M | 16.4M | -534.5M | -178.7M | 80.42M | 167.46M | 103.03M | 90.92M | 72.44M | 39.3M | 7.59M | 7.55M | -6.15M | -4.44M | -1.44M | -454.06K | -883.7K | -300.14K | -675.16K |
| Net Interest Income | 13.27M | 8.64M | 4.86M | -2.5M | -5.7M | -4.5M | -4.3M | -2.5M | -3M | -6.6M | -21.9M | -23.2M | -18.8M | 2.22M | 2.6M | 1.12M | 1.06M | 1.12M | 120K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 14.55M | 9.03M | 12M | 7.8M | 0 | 0 | 0 | 0 | 0 | 0 | 2.1M | 1M | 1.1M | 3.13M | 3.13M | 1.72M | 1.51M | 1.12M | 395K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 1.28M | 396.67K | 7.14M | 10.3M | 5.7M | 4.5M | 4.3M | 2.5M | 3M | 6.6M | 24M | 24.2M | 19.9M | 912K | 536K | 598K | 451K | 0 | 275K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 259.46M | 286.29M | -59.7M | -24.4M | -9.1M | -12.6M | -9.4M | 2.9M | -15.8M | -33.8M | -28.9M | -66.1M | -49.9M | -15.14M | 3.11M | -3.8M | 10.41M | 5.8M | -672K | -1.22M | -4.45M | 6.15M | -1.73M | 0 | 0 | 0 | 300.14K | 675.16K |
| Pretax Income | 1.38B | 1.09B | 502.2M | 293.7M | 102.4M | 2.3M | 218.2M | 128.9M | -38.4M | 22.2M | -7.6M | -558.7M | -198.6M | 79.5M | 166.93M | 102.44M | 90.47M | 78.25M | 39.02M | 6.37M | 3.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pretax Margin % | 66.66% | 60.33% | 37.29% | 28.7% | 12.47% | 0.28% | 29.17% | 18.87% | -5.89% | 4.09% | -1.58% | -157.34% | -68.89% | 28.17% | 50.68% | 45.05% | 47.8% | 45.64% | 29.34% | 8.61% | 5.67% | - | - | - | - | - | - | - |
| Income Tax | 315.6M | 204.01M | 217.9M | 83.7M | 65.3M | 69M | 74M | 32.8M | 34.2M | -4.4M | 10.3M | -49.8M | -29M | 40.71M | 48.97M | 42.35M | 26.67M | 22.28M | 9.64M | 3.44M | 1.13M | 0 | 322.74K | 495.57K | -13.82K | 68.94K | 0 | 0 |
| Effective Tax Rate % | 22.89% | 18.66% | 43.39% | 28.5% | 63.77% | 3000% | 33.91% | 25.45% | -89.06% | -19.82% | -135.53% | 8.91% | 14.6% | 51.21% | 29.34% | 41.35% | 29.48% | 28.48% | 24.71% | 53.97% | 36.3% | - | - | - | - | - | - | - |
| Net Income | 1.06B | 889.42M | 284.3M | 210M | 37.1M | -66.7M | 144.2M | 96.1M | -72.6M | 26.6M | -17.9M | -508.9M | -169.6M | 38.79M | 117.96M | 60.08M | 63.8M | 55.96M | 29.38M | 2.93M | -4.01M | -9.45M | -3.77M | -1.93M | -440.24K | -952.64K | -292.05K | -675.16K |
| Net Margin % | 51.4% | 49.07% | 21.11% | 20.52% | 4.52% | -8.1% | 19.28% | 14.07% | -11.14% | 4.9% | -3.71% | -143.31% | -58.83% | 13.75% | 35.81% | 26.42% | 33.71% | 32.64% | 22.09% | 3.96% | -7.34% | -346.49% | - | - | - | - | - | -967.54% |
| Net Income Growth % | 312.96% | 212.85% | 35.38% | 466.04% | 155.62% | -146.26% | 50.05% | 232.37% | -372.93% | 248.6% | 96.48% | -200.06% | -537.2% | -67.11% | 96.33% | -5.82% | 14% | 90.48% | 901.28% | 173.11% | 57.52% | -150.42% | -95.06% | -339.28% | 53.79% | -226.19% | 56.74% | - |
| Net Income (Continuing) | 1.06B | 889.42M | 284.3M | 210M | 37.1M | -66.7M | 144.2M | 96.1M | -72.6M | 26.6M | -17.9M | -508.9M | -169.6M | 38.79M | 117.96M | 60.08M | 63.8M | 55.96M | 29.38M | 2.93M | 1.98M | -9.45M | -5.18M | -1.93M | -440.24K | -952.64K | -292.05K | -675.16K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 2.52 | 2.10 | 0.69 | 0.53 | 0.09 | -0.17 | 0.37 | 0.25 | -0.19 | 0.09 | -0.07 | -2.62 | -0.02 | 0.30 | 0.98 | 0.51 | 0.55 | 0.51 | 0.30 | 0.03 | -0.05 | -0.12 | -0.06 | -0.05 | -0.04 | -0.23 | -0.07 | -0.00 |
| EPS Growth % | 307.53% | 204.35% | 30.19% | 486.93% | 153.12% | -145.95% | 48% | 231.58% | -311.11% | 233.33% | 97.42% | -15588.62% | -105.57% | -69.39% | 92.16% | -7.27% | 7.84% | 70% | 900% | 160.24% | 58.5% | -85.76% | -33.2% | -23.1% | 82.87% | -228.57% | - | - |
| EPS (Basic) | - | 2.10 | 0.70 | 0.53 | 0.09 | -0.17 | 0.37 | 0.25 | -0.19 | 0.09 | -0.07 | -2.62 | -0.02 | 0.30 | 0.98 | 0.51 | 0.55 | 0.52 | 0.31 | 0.03 | -0.05 | -0.12 | -0.06 | -0.05 | -0.04 | -0.23 | -0.07 | -0.00 |
| Diluted Shares Outstanding | 421.82M | 422.78M | 410.55M | 398.07M | 394.51M | 392.65M | 394.86M | 393.43M | 389.82M | 309.02M | 265.23M | 194.12M | 127.39M | 127.48M | 120.9M | 118.67M | 116.91M | 108.75M | 97.11M | 96.43M | 80.6M | 77.18M | 58.42M | 39.84M | 11.19M | 4.17M | 4.17M | 675.16M |
| Basic Shares Outstanding | 419.9M | 420.5M | 408.17M | 395.51M | 392.17M | 392.65M | 391.68M | 390.16M | 382.11M | 305.52M | 265.23M | 194.12M | 127.39M | 127.34M | 119.86M | 117.38M | 115.18M | 106.77M | 95.43M | 94.06M | 80.6M | 77.18M | 58.42M | 39.84M | 10.34M | 4.17M | 4.17M | 675.16M |
| Dividend Payout Ratio | - | 4.52% | 12.35% | 16.81% | 94.61% | - | 16.57% | 16.23% | - | 22.56% | - | - | - | 65.78% | 20.37% | 23.49% | 11.75% | - | - | - | - | - | - | - | - | - | - | - |
Operational integration of Magino
As reported in recent quarterly filings, Alamos Gold achieved a significant revenue expansion, with year-over-year growth reaching 76.7% in 2026Q1, largely driven by the successful integration of the Magino mine and sustained production strength across its core Canadian asset base in the Michipicoten Greenstone Belt.
The acceleration in top-line performance suggests that the company is successfully transitioning from a mid-tier producer to a larger-scale operator. Investors should monitor whether this growth trajectory remains sustainable as the company moves past the initial integration phase of its recent acquisitions.
Based on the provided income statement data, gross margins have demonstrated a clear upward trend, climbing from 34.5% in 2023Q4 to 63.9% by 2026Q1, which appears to reflect the high-grade nature of the Island Gold complex and improved operational leverage following recent capital investments.
This margin expansion indicates that the company is effectively managing its cost per ounce, likely benefiting from economies of scale within its Ontario operations. Such performance suggests a robust competitive position, though the sustainability of these margins may depend on continued cost discipline amidst potential inflationary pressures.
According to the latest financial statements, operating income has scaled significantly faster than gross profit, with operating margins reaching 57.4% in 2026Q1, suggesting that the company is successfully containing SG&A expenses while simultaneously expanding its production footprint across its primary Canadian mining assets.
The ability to maintain low overhead costs while scaling operations implies a high degree of management discipline. This operating leverage may provide a buffer against gold price volatility, though investors should watch for any future increases in administrative costs as the organization grows in complexity.
As indicated by the quarterly data, net income has shown significant volatility, with a notable spike to $441.6M in 2025Q4, which warrants further investigation into potential non-recurring items or tax adjustments that may obscure the underlying cash-generating capacity of the company's core mining operations.
While the headline EPS growth appears strong, the fluctuations in net margin suggest that GAAP figures may be influenced by accounting nuances such as depletion and amortization. Analysts should focus on adjusted earnings to better understand the true operational profitability of the business.
Based on the provided financial history, the primary risk to the current narrative involves the potential for capital cost inflation and integration challenges at the Magino site, which could temporarily compress free cash flow and delay the transition to a more aggressive dividend payout policy.
Short-term investors should be wary of the potential for 'scope creep' in capital projects, which has historically challenged mid-tier producers. The reliance on specific high-grade assets means that any operational disruption could have an outsized impact on the company's ability to maintain its current margin profile.
Quick answers to the most common questions about buying AGI stock.
For fiscal year 2025, Alamos Gold Inc. (AGI) reported total revenue of $1.81B. This represents a 2597337.7% increase compared to $0.1M in 1999.
Alamos Gold Inc. (AGI) is profitable, generating $889.4M in net income for the fiscal year ending 2025 with a net profit margin of 49.1%.
Alamos Gold Inc. (AGI) reported an operating income of $807.1M, resulting in an operating profit margin of 44.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Alamos Gold Inc. (AGI) generated $984.4M in gross profit for the year, representing a gross profit margin of 54.3%. This demonstrates the company's core pricing power and production efficiency.