Hudbay Minerals Inc. (HBM) 10-Year Financial Performance & Capital Metrics

HBM • • Industrial / General

Basic MaterialsCopperCopper Mining & DevelopmentDiversified Base Metals Miners

AboutHudbay Minerals Inc., a diversified mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; silver/gold doré; molybdenum concentrates; and zinc metals. The company owns three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States. HudBay Minerals Inc. was founded in 1927 and is headquartered in Toronto, Canada.Show more

Revenue $2.02B +19.6%
EBITDA $838M +18.5%
Net Income $77M +15.5%
EPS (Diluted) 0.20 -4.8%
Gross Margin 48.51% +108.8%
EBITDA Margin 41.47% -0.9%
Operating Margin 19.81% +12.6%
Net Margin 3.79% -3.4%
ROE 3.16% -10.1%
ROIC 9.07% +20.5%
Debt/Equity 0.45 -28.5%
Interest Coverage 4.98 +47.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓FCF machine: 15.7% free cash flow margin
✓Momentum leader: RS Rating 93 (top 7%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 10.3%
✓Trading near 52-week high

✗Weaknesses

✗Weak 3Y average ROE of 3.8%
✗Shares diluted 21.3% in last year

Price & Volume

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Growth Metrics

Revenue CAGR

10Y15.4%

5Y10.31%

3Y10.4%

TTM1.2%

Profit (Net Income) CAGR

10Y1.61%

5Y-

3Y-

TTM435.26%

EPS CAGR

10Y-4.29%

5Y-

3Y-

TTM387.31%

ROCE

10Y Avg2.49%

5Y Avg4%

3Y Avg6.82%

Latest8.23%

Peer Comparison

Diversified Base Metals Miners

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
HBMHudbay Minerals Inc.	9.02B	22.76	113.80	19.6%	22.38%	14.99%	3.52%	0.45

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	805.48M	1.13B	1.4B	1.47B	1.24B	1.09B	1.5B	1.46B	1.69B	2.02B
Revenue Growth %	0.67%	0.4%	0.24%	0.05%	-0.16%	-0.12%	0.37%	-0.03%	0.16%	0.2%
Cost of Goods Sold+	550.7M	905.8M	988.61M	1.1B	1.09B	1.05B	1.37B	1.18B	1.3B	1.04B
COGS % of Revenue	0.68%	0.8%	0.7%	0.75%	0.88%	0.96%	0.91%	0.81%	0.77%	0.51%
Gross Profit+	118.36M	222.88M	373.94M	373.74M	151.54M	39M	131.02M	276.89M	392.56M	980.4M
Gross Margin %	0.15%	0.2%	0.27%	0.25%	0.12%	0.04%	0.09%	0.19%	0.23%	0.49%
Gross Profit Growth %	1.18%	0.88%	0.68%	-0%	-0.59%	-0.74%	2.36%	1.11%	0.42%	1.5%
Operating Expenses+	50.44M	53.1M	74.22M	77.13M	440.31M	76.19M	112.75M	62.58M	95.4M	580.1M
OpEx % of Revenue	0.06%	0.05%	0.05%	0.05%	0.36%	0.07%	0.08%	0.04%	0.06%	0.29%
Selling, General & Admin	30.94M	37.77M	42.28M	27.24M	36.17M	41.41M	43.01M	33.99M	39.2M	57M
SG&A % of Revenue	0.04%	0.03%	0.03%	0.02%	0.03%	0.04%	0.03%	0.02%	0.02%	0.03%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	19.5M	15.33M	14.35M	47.64M	404.14M	34.78M	69.74M	28.59M	56.2M	523.1M
Operating Income+	-328.43M	169.78M	352.5M	298.86M	-288.77M	-37.19M	18.27M	214.31M	297.17M	400.3M
Operating Margin %	-0.41%	0.15%	0.25%	0.2%	-0.23%	-0.03%	0.01%	0.15%	0.18%	0.2%
Operating Income Growth %	-10.06%	1.52%	1.08%	-0.15%	-1.97%	0.87%	1.49%	10.73%	0.39%	0.35%
EBITDA+	-125.41M	467.87M	665.35M	632M	57.87M	326.42M	378.04M	553.37M	707.57M	838.2M
EBITDA Margin %	-0.16%	0.41%	0.47%	0.43%	0.05%	0.3%	0.25%	0.38%	0.42%	0.41%
EBITDA Growth %	-3.32%	4.73%	0.42%	-0.05%	-0.91%	4.64%	0.16%	0.46%	0.28%	0.18%
D&A (Non-Cash Add-back)	203.02M	298.09M	312.84M	333.14M	346.63M	363.6M	359.77M	339.06M	410.41M	437.9M
EBIT	-299.91M	149.97M	339.02M	240.13M	-380M	-96.38M	-128M	163.48M	242.68M	418.4M
Net Interest Income+	-73.47M	-158.45M	-156.95M	-134.13M	-72.52M	-94.47M	-80.85M	-70.05M	-79.77M	-65.5M
Interest Income	2.91M	2.76M	2.85M	8.02M	8.73M	1.91M	988.23K	2.5M	8.3M	14.95M
Interest Expense	67.61M	161.21M	159.89M	129.68M	81.25M	96.37M	81.83M	72.55M	88.07M	80.44M
Other Income/Expense	-70.61M	-164.17M	-179.59M	-128.02M	-164M	-141.9M	-221.02M	-118.49M	-145.34M	-148.7M
Pretax Income+	-399.04M	5.61M	172.91M	170.84M	-452.76M	-179.09M	-202.75M	95.81M	151.83M	251.6M
Pretax Margin %	-0.5%	0%	0.12%	0.12%	-0.37%	-0.16%	-0.13%	0.07%	0.09%	0.12%
Income Tax+	-67.61M	40.8M	33.22M	85.42M	-108.95M	-34.51M	41.61M	25.43M	82.29M	183.8M
Effective Tax Rate %	0.83%	-6.28%	0.81%	0.5%	0.76%	0.81%	1.21%	0.73%	0.44%	0.3%
Net Income+	-331.43M	-35.19M	139.69M	85.42M	-343.81M	-144.58M	-244.36M	70.38M	66.4M	76.7M
Net Margin %	-0.41%	-0.03%	0.1%	0.06%	-0.28%	-0.13%	-0.16%	0.05%	0.04%	0.04%
Net Income Growth %	-6.07%	0.89%	4.97%	-0.39%	-5.03%	0.58%	-0.69%	1.29%	-0.06%	0.16%
Net Income (Continuing)	-331.43M	-35.19M	139.69M	85.42M	-343.81M	-144.58M	-244.36M	70.38M	69.54M	67.8M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	110M	94.2M
EPS (Diluted)+	-1.41	-0.15	0.57	0.33	-1.32	-0.55	-0.93	0.27	0.21	0.20
EPS Growth %	-5.55%	0.89%	4.8%	-0.42%	-5%	0.58%	-0.69%	1.29%	-0.22%	-0.05%
EPS (Basic)	-1.41	-0.15	0.57	0.33	-1.32	-0.55	-0.93	0.27	0.21	0.20
Diluted Shares Outstanding	234.68M	235.81M	243.5M	261.27M	261.27M	261.27M	261.46M	262.22M	310.95M	377.29M
Basic Shares Outstanding	234.68M	235.81M	243.5M	261.27M	261.27M	261.27M	261.46M	261.86M	310.85M	376.79M
Dividend Payout Ratio	-	-	0.03%	0.05%	-	-	-	0.06%	0.07%	0.07%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	435.18M	436.6M	665.54M	772.39M	663.03M	755.67M	656.73M	524.18M	673.2M	1.05B
Cash & Short-Term Investments	53.85M	146.86M	356.5M	515.5M	396.15M	439.13M	270.99M	225.66M	249.8M	581.8M
Cash Only	53.85M	146.86M	356.5M	515.5M	396.15M	439.13M	270.99M	225.66M	249.8M	541.8M
Short-Term Investments	0	0	0	0	0	0	0	0	0	40M
Accounts Receivable	235.56M	152.57M	155.53M	119.16M	113.28M	153.65M	204.08M	122.33M	205.7M	236.6M
Days Sales Outstanding	106.74	49.34	40.48	29.54	33.41	51.34	49.59	30.55	44.43	42.73
Inventory	120.19M	112.46M	141.68M	118.47M	138.82M	143.1M	158.45M	155.01M	207.3M	197.4M
Days Inventory Outstanding	79.66	45.32	52.31	39.36	46.66	49.58	42.19	47.76	58.32	69.23
Other Current Assets	174.97M	87.9M	2.84M	10.37M	2.05M	3.07M	7.87M	21.17M	10.4M	32.7M
Total Non-Current Assets+	4.04B	4.02B	3.98B	3.91B	3.79B	3.91B	3.96B	3.8B	4.64B	4.44B
Property, Plant & Equipment	3.89B	3.87B	3.88B	3.82B	3.66B	3.73B	3.74B	3.55B	4.32B	4.18B
Fixed Asset Turnover	0.21x	0.29x	0.36x	0.39x	0.34x	0.29x	0.40x	0.41x	0.39x	0.48x
Goodwill	0	0	0	0	0	0	0	0	75.3M	69.2M
Intangible Assets	8.86M	6.61M	5.58M	4.16M	5.03M	5.41M	5.9M	4.77M	4M	5.5M
Long-Term Investments	9.27M	13.7M	22.25M	15.16M	11.29M	15.67M	11.16M	9.8M	6.5M	12.1M
Other Non-Current Assets	95.34M	54.33M	38.47M	58.6M	44.1M	56.34M	67.9M	109.13M	85.7M	68.3M
Total Assets+	4.48B	4.46B	4.65B	4.69B	4.46B	4.67B	4.62B	4.33B	5.31B	5.49B
Asset Turnover	0.18x	0.25x	0.30x	0.31x	0.28x	0.23x	0.33x	0.34x	0.32x	0.37x
Asset Growth %	-0.08%	-0.01%	0.04%	0.01%	-0.05%	0.05%	-0.01%	-0.06%	0.23%	0.03%
Total Current Liabilities+	377.56M	315.06M	356.87M	327.16M	391.75M	448.79M	509.22M	447.65M	537.4M	537.2M
Accounts Payable	62.36M	80.51M	71.34M	61.4M	68.74M	104.6M	84.28M	83.82M	69.3M	66.7M
Days Payables Outstanding	41.33	32.44	26.34	20.4	23.11	36.24	22.44	25.83	19.5	23.39
Short-Term Debt	70.49M	16.49M	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	44.8M	54.94M	151.37M	142.77M	187.46M	189.64M	155.72M	136.23M	127.5M	72.7M
Current Ratio	1.15x	1.39x	1.86x	2.36x	1.69x	1.68x	1.29x	1.17x	1.25x	1.95x
Quick Ratio	0.83x	1.03x	1.47x	2.00x	1.34x	1.36x	0.98x	0.82x	0.87x	1.58x
Cash Conversion Cycle	145.07	62.21	66.45	48.5	56.97	64.68	69.34	52.49	83.25	88.56
Total Non-Current Liabilities+	2.31B	2.38B	2.15B	2.18B	2.22B	2.52B	2.63B	2.31B	2.57B	2.3B
Long-Term Debt	1.21B	1.22B	979.58M	981.03M	985.25M	1.14B	1.18B	1.18B	1.29B	1.11B
Capital Lease Obligations	0	9.76M	66.25M	53.76M	49.17M	30.04M	44.47M	44.86M	61.4M	44.3M
Deferred Tax Liabilities	294.53M	354.92M	302.09M	324.09M	237.83M	229.43M	261.76M	251.29M	407.2M	340.4M
Other Non-Current Liabilities	283.58M	1.15B	351.56M	340.91M	467.01M	679M	717.31M	421.29M	481.5M	501.7M
Total Liabilities	2.69B	2.69B	2.5B	2.51B	2.61B	2.97B	3.14B	2.75B	3.11B	2.84B
Total Debt+	1.28B	1.23B	1.06B	1.06B	1.07B	1.2B	1.26B	1.25B	1.38B	1.18B
Net Debt	1.22B	1.09B	707.65M	539.77M	671.06M	760.05M	987.29M	1.02B	1.13B	640.5M
Debt / Equity	0.72x	0.70x	0.50x	0.48x	0.58x	0.71x	0.85x	0.79x	0.62x	0.45x
Debt / EBITDA	-	2.63x	1.60x	1.67x	18.44x	3.67x	3.33x	2.25x	1.95x	1.41x
Net Debt / EBITDA	-	2.32x	1.06x	0.85x	11.60x	2.33x	2.61x	1.84x	1.59x	0.76x
Interest Coverage	-4.86x	1.05x	2.20x	2.30x	-3.55x	-0.39x	0.22x	2.95x	3.37x	4.98x
Total Equity+	1.79B	1.76B	2.14B	2.18B	1.85B	1.7B	1.48B	1.57B	2.21B	2.65B
Equity Growth %	-0.15%	-0.01%	0.22%	0.02%	-0.15%	-0.08%	-0.13%	0.06%	0.4%	0.2%
Book Value per Share	7.62	7.48	8.81	8.34	7.07	6.51	5.65	5.99	7.10	7.02
Total Shareholders' Equity	1.79B	1.76B	2.14B	2.18B	1.85B	1.7B	1.48B	1.57B	2.1B	2.55B
Common Stock	1.58B	1.59B	1.78B	1.78B	1.78B	1.78B	1.78B	1.78B	2.24B	2.64B
Retained Earnings	255.69M	216.93M	377.15M	442.77M	95.03M	-53.33M	-301.84M	-235.5M	-173.6M	-102.4M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-45M	-42.04M	-10.3M	-41.25M	-24.25M	-24.2M	-182K	26.54M	30.2M	14.3M
Minority Interest	0	0	0	0	0	0	0	0	110M	94.2M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	185.66M	475.07M	539.58M	479.55M	310.86M	239.48M	385.07M	487.8M	476.9M	666.2M
Operating CF Margin %	0.23%	0.42%	0.38%	0.33%	0.25%	0.22%	0.26%	0.33%	0.28%	0.33%
Operating CF Growth %	-0.26%	1.56%	0.14%	-0.11%	-0.35%	-0.23%	0.61%	0.27%	-0.02%	0.4%
Net Income	-331.43M	-35.19M	163.9M	85.42M	-343.81M	-144.58M	-244.36M	70.38M	69.5M	67.8M
Depreciation & Amortization	217.62M	299.13M	293.24M	333.14M	346.63M	363.6M	359.77M	339.06M	393.1M	428M
Stock-Based Compensation	-319K	9.89M	15.92M	-2.37M	2.71M	15.01M	12.14M	2.06M	7.4M	19.3M
Deferred Taxes	-67.61M	40.8M	34.83M	85.42M	-108.95M	-34.51M	41.61M	25.43M	82.3M	183.8M
Other Non-Cash Items	469.82M	142.67M	110.96M	-256K	410.7M	42.34M	318.7M	-45.21M	17.7M	-7.8M
Working Capital Changes	-102.41M	17.78M	-79.27M	-21.8M	3.57M	-2.38M	-102.79M	96.07M	-93.1M	-24.9M
Change in Receivables	-51.2M	67.45M	-9.3M	15.37M	3.25M	-37.72M	-60.98M	88.48M	-70.3M	-36.5M
Change in Inventory	-44.58M	2.65M	-18.69M	-32K	-11.76M	-2.87M	-32.75M	-13.03M	18.2M	10M
Change in Payables	49.48M	-8.24M	-6.56M	-18.61M	0	0	0	0	0	0
Cash from Investing+	-485.54M	-147.06M	-234.26M	-202.14M	-292.37M	-359.02M	-376.26M	-337.67M	-271.8M	-382.9M
Capital Expenditures	-490.66M	-192.82M	-249.76M	-190.9M	-259.2M	-361.19M	-352.18M	-308.96M	-281.1M	-347.1M
CapEx % of Revenue	0.61%	0.17%	0.18%	0.13%	0.21%	0.33%	0.23%	0.21%	0.17%	0.17%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	14.85M	46.13M	17.74M	-3.2M	11.52M	2.17M	-25.27M	-30.63M	-1.7M	-35.8M
Cash from Financing+	187.96M	-236.08M	-92.85M	-120.35M	-137.78M	162.09M	-175.9M	-196.3M	-182.4M	10.2M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-3.6M	-3.57M	-3.69M	-4.04M	-3.93M	-3.78M	-4.15M	-4.05M	-4.5M	-5.5M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-110.38M	-116.22M	-79.34M	-95.32M	-100.9M	17.28M	-103.08M	-156.48M	-119M	-158.8M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-305M	282.25M	289.81M	288.65M	51.65M	-121.7M	32.89M	178.84M	195.8M	317.3M
FCF Margin %	-0.38%	0.25%	0.21%	0.2%	0.04%	-0.11%	0.02%	0.12%	0.12%	0.16%
FCF Growth %	0.49%	1.93%	0.03%	-0%	-0.82%	-3.36%	1.27%	4.44%	0.09%	0.62%
FCF per Share	-1.30	1.20	1.19	1.10	0.20	-0.47	0.13	0.68	0.63	0.84
FCF Conversion (FCF/Net Income)	-0.56x	-13.50x	3.86x	5.61x	-0.90x	-1.66x	-1.58x	6.93x	7.18x	8.69x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-17.02%	-1.98%	7.15%	3.95%	-17.08%	-8.15%	-15.38%	4.62%	3.51%	3.16%
Return on Invested Capital (ROIC)	-8.31%	4.35%	9.28%	8.05%	-8.27%	-1.12%	0.56%	6.36%	7.52%	9.07%
Gross Margin	14.69%	19.75%	26.67%	25.38%	12.25%	3.57%	8.72%	18.95%	23.23%	48.51%
Net Margin	-41.15%	-3.12%	9.96%	5.8%	-27.78%	-13.24%	-16.27%	4.82%	3.93%	3.79%
Debt / Equity	0.72x	0.70x	0.50x	0.48x	0.58x	0.71x	0.85x	0.79x	0.62x	0.45x
Interest Coverage	-4.86x	1.05x	2.20x	2.30x	-3.55x	-0.39x	0.22x	2.95x	3.37x	4.98x
FCF Conversion	-0.56x	-13.50x	3.86x	5.61x	-0.90x	-1.66x	-1.58x	6.93x	7.18x	8.69x
Revenue Growth	66.99%	40.13%	24.25%	4.99%	-15.96%	-11.72%	37.49%	-2.7%	15.64%	19.6%

Revenue by Geography

	2017
Peru	657.78M
Peru Growth	-
Arizona	-
Arizona Growth	-

Frequently Asked Questions

Valuation & Price

Hudbay Minerals Inc. (HBM) has a price-to-earnings (P/E) ratio of 113.8x. This suggests investors expect higher future growth.

Growth & Financials

Hudbay Minerals Inc. (HBM) reported $2.06B in revenue for fiscal year 2024. This represents a 136% increase from $872.5M in 2011.

Hudbay Minerals Inc. (HBM) grew revenue by 19.6% over the past year. This is strong growth.

Yes, Hudbay Minerals Inc. (HBM) is profitable, generating $461.7M in net income for fiscal year 2024 (3.8% net margin).

Dividend & Returns

Hudbay Minerals Inc. (HBM) does not currently pay a meaningful dividend. The company may be reinvesting profits for growth.

Hudbay Minerals Inc. (HBM) has a return on equity (ROE) of 3.2%. This is below average, suggesting room for improvement.

Hudbay Minerals Inc. (HBM) generated $317.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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