Fortuna Mining Corp. (FSM) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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FSM Revenue Growth
Revenue Breakdown (FY 2025)
FSM's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
FSM Revenue Analysis (2014–2025)
As of May 8, 2026, Fortuna Mining Corp. (FSM) generated trailing twelve-month (TTM) revenue of $1.04 billion, reflecting moderate decline in growth of -10.0% year-over-year. The most recent quarter (Q4 2025) recorded $272.0 million in revenue, up 8.2% sequentially.
Looking at the longer-term picture, FSM's 5-year compound annual growth rate (CAGR) stands at +28.0%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $1.06 billion in 2024.
Revenue diversification analysis shows FSM's business is primarily driven by Gold Dore (100%), and Provisional Pricing Adjustments (0%). With over half of revenue concentrated in Gold Dore, the company maintains significant focus in this area while developing other growth vectors.
When compared to Basic Materials sector peers including EXK (+46.1% YoY), HL (+57.0% YoY), and CDE (+113.7% YoY), FSM has underperformed the peer group in terms of revenue growth. Compare FSM vs EXK →
FSM Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| FSMCurrent | $1.0B | -10.0% | +28.0% | 38.5% | |
 EXK | $218M | +46.1% | +12.3% | 3.8% | |
 HL | $1.4B | +57.0% | +15.5% | 37.5% | |
 CDE | $2.1B | +113.7% | +21.4% | 36.3% | |
 PAAS | $3.7B | +34.3% | +22.4% | 32.3% | |
 AG | $1.3B | +125.1% | +28.4% | 27.8% |
FSM Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $960.1M | -9.6% | $468.0M | 48.7% | $369.8M | 38.5% |
| 2024 | $1.06B | +26.1% | $343.6M | 32.4% | $228.0M | 21.5% |
| 2023 | $842.4M | +23.6% | $190.0M | 22.6% | $-407,000 | -0.0% |
| 2022 | $681.5M | +13.6% | $146.8M | 21.5% | $-113,552,000 | -16.7% |
| 2021 | $599.9M | +115.0% | $205.5M | 34.3% | $136.9M | 22.8% |
| 2020 | $279.0M | +8.5% | $110.2M | 39.5% | $57.2M | 20.5% |
| 2019 | $257.2M | -2.3% | $84.6M | 32.9% | $34.2M | 13.3% |
| 2018 | $263.3M | -1.8% | $96.6M | 36.7% | $61.6M | 23.4% |
| 2017 | $268.1M | +27.5% | $109.6M | 40.9% | $110.3M | 41.1% |
| 2016 | $210.3M | +35.9% | $80.6M | 38.3% | $48.5M | 23.1% |
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Start ComparisonFSM — Frequently Asked Questions
Quick answers to the most common questions about buying FSM stock.
Is FSM's revenue growth accelerating or slowing?
FSM revenue declined -10.0% year-over-year, contrasting with the 5-year CAGR of +28.0%. TTM revenue fell to $1.0B. This reverses the prior growth trend.
What is FSM's long-term revenue growth rate?
Fortuna Mining Corp.'s 5-year revenue CAGR of +28.0% reflects the variable expansion pattern. Current YoY growth of -10.0% is below this long-term average.
How is FSM's revenue distributed by segment?
FSM reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.