Latest Ratios: P/E Ratio -230.2x · EV/EBITDA 8.5x · ROE -1.0%. (2000–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.5B | $2.4B | $798M | $584M | $684M | $646M | $869M | $569M | $434M | $461M | $595M |
| Enterprise Value | $2.2B | $2.1B | $546M | $432M | $539M | $533M | $752M | $506M | $372M | $412M | $522M |
| P/E Ratio → | -230.20 | — | 13.82 | 16.30 | 34.73 | 21.29 | 17.54 | 18.17 | 11.09 | 9.96 | 13.88 |
| P/S Ratio | 5.81 | 5.38 | 2.67 | 2.71 | 3.29 | 2.96 | 4.53 | 3.58 | 2.55 | 2.71 | 3.64 |
| P/B Ratio | 2.28 | 2.13 | 0.96 | 0.98 | 1.18 | 1.04 | 1.54 | 1.30 | 1.05 | 1.16 | 1.87 |
| P/FCF | 14.04 | 13.00 | 15.18 | 20.78 | 22.28 | 16.07 | 25.79 | 13.57 | 12.99 | 11.30 | 13.32 |
| P/OCF | 8.20 | 7.59 | 5.76 | 6.38 | 7.98 | 6.01 | 10.12 | 7.37 | 6.41 | 6.79 | 7.39 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.69 | 1.83 | 2.01 | 2.59 | 2.45 | 3.92 | 3.18 | 2.18 | 2.42 | 3.19 |
| EV / EBITDA | 8.48 | 7.77 | 4.02 | 4.65 | 8.53 | 5.95 | 7.92 | 6.76 | 4.06 | 4.33 | 5.65 |
| EV / EBIT | 9.86 | 21.85 | 4.97 | 6.16 | 15.20 | 9.29 | 10.19 | 9.24 | 5.15 | 5.26 | 7.08 |
| EV / FCF | — | 11.32 | 10.39 | 15.39 | 17.55 | 13.28 | 22.32 | 12.05 | 11.11 | 10.09 | 11.69 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 57.9% | 57.9% | 41.3% | 37.5% | 34.0% | 38.7% | 43.8% | 37.4% | 35.8% | 38.9% | 41.2% |
| Operating Margin | 51.9% | 51.9% | 34.5% | 29.7% | 16.2% | 28.7% | 37.3% | 32.8% | 41.1% | 44.4% | 44.8% |
| Net Profit Margin | -2.3% | -2.3% | 19.5% | 16.9% | 9.9% | 14.1% | 24.1% | 21.6% | 23.3% | 27.6% | 26.7% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -1.0% | -1.0% | 8.1% | 6.2% | 3.4% | 5.2% | 9.2% | 8.0% | 9.8% | 13.1% | 14.4% |
| ROA | -0.8% | -0.8% | 6.3% | 5.3% | 2.9% | 4.5% | 8.0% | 6.8% | 8.1% | 10.7% | 11.3% |
| ROIC | 24.7% | 24.7% | 15.1% | 10.9% | 5.4% | 9.8% | 13.1% | 10.8% | 15.0% | 19.0% | 22.2% |
| ROCE | 18.9% | 18.9% | 12.0% | 9.9% | 5.1% | 9.7% | 13.0% | 11.0% | 15.5% | 18.8% | 21.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.11 | 0.11 | 0.13 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | — | — |
| Debt / EBITDA | 0.45 | 0.45 | 0.82 | 0.01 | 0.01 | 0.01 | 0.02 | 0.03 | 0.05 | — | — |
| Net Debt / Equity | — | -0.27 | -0.30 | -0.25 | -0.25 | -0.18 | -0.21 | -0.15 | -0.15 | -0.12 | -0.23 |
| Net Debt / EBITDA | -1.15 | -1.15 | -1.85 | -1.63 | -2.30 | -1.25 | -1.23 | -0.85 | -0.69 | -0.52 | -0.79 |
| Debt / FCF | — | -1.67 | -4.79 | -5.40 | -4.73 | -2.79 | -3.47 | -1.52 | -1.88 | -1.21 | -1.64 |
| Interest Coverage | 6.93 | 6.93 | 17.30 | 329.43 | 125.62 | 168.37 | 213.44 | 94.46 | 114.23 | 174.31 | 96.91 |
Net cash position: cash ($422M) exceeds total debt ($118M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.58 | 3.58 | 5.05 | 4.28 | 5.31 | 5.05 | 5.95 | 5.68 | 3.56 | 3.80 | 2.76 |
| Quick Ratio | 3.50 | 3.50 | 4.95 | 4.12 | 5.11 | 4.85 | 5.69 | 5.38 | 3.27 | 3.46 | 2.54 |
| Cash Ratio | 3.41 | 3.41 | 4.82 | 3.92 | 4.93 | 4.62 | 5.36 | 5.12 | 3.04 | 3.28 | 2.40 |
| Asset Turnover | — | 0.30 | 0.26 | 0.31 | 0.31 | 0.30 | 0.29 | 0.31 | 0.34 | 0.36 | 0.41 |
| Inventory Turnover | 19.43 | 19.43 | 21.84 | 18.20 | 16.46 | 14.65 | 11.05 | 11.80 | 10.10 | 9.42 | 11.03 |
| Days Sales Outstanding | — | 2.60 | 2.78 | 4.86 | 4.34 | 8.02 | 14.29 | 9.14 | 10.25 | 2.62 | 3.13 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.2% | 0.2% | 0.6% | 0.8% | 0.6% | 0.7% | 0.5% | 0.8% | 1.0% | 0.7% | 0.6% |
| Payout Ratio | — | — | 8.5% | 12.1% | 21.5% | 14.4% | 9.9% | 12.5% | 10.6% | 7.2% | 7.7% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 7.2% | 6.1% | 2.9% | 4.7% | 5.7% | 5.5% | 9.0% | 10.0% | 7.2% |
| FCF Yield | 7.1% | 7.7% | 6.6% | 4.8% | 4.5% | 6.2% | 3.9% | 7.4% | 7.7% | 8.8% | 7.5% |
| Buyback Yield | 0.0% | 0.0% | 0.1% | 0.2% | 0.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.9% | 0.7% |
| Total Shareholder Yield | 0.2% | 0.2% | 0.7% | 0.9% | 1.0% | 0.7% | 0.5% | 0.8% | 1.0% | 1.6% | 1.3% |
| Shares Outstanding | — | $219M | $206M | $179M | $179M | $178M | $177M | $174M | $170M | $171M | $171M |
Includes 30+ ratios · 26 years · Updated daily
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Quick answers to the most common questions about buying SVM stock.
Silvercorp Metals Inc.'s current P/E ratio is -230.2x. The historical average is 25.9x.
Silvercorp Metals Inc.'s current EV/EBITDA is 8.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.5x.
Silvercorp Metals Inc.'s return on equity (ROE) is -1.0%. The historical average is -10.8%.
Based on historical data, Silvercorp Metals Inc. is trading at a P/E of -230.2x. Compare with industry peers and growth rates for a complete picture.
Silvercorp Metals Inc.'s current dividend yield is 0.22%.
Silvercorp Metals Inc. has 57.9% gross margin and 51.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Silvercorp Metals Inc.'s Debt/EBITDA ratio is 0.4x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Non-operating losses persist
Operating Strength Masked by Net Drag
Despite a 67.0% gross margin and 64.3% operating margin in 2026Q4, net margin was -0.5%, per financial statements, indicating non-operating losses obscure core mining profitability.
The gross margin expansion from 30.5% in 2024Q4 to 67.0% in 2026Q4 reflects high-grade ore and cost control, but the persistent negative net margins in four of the last five quarters suggest significant non-operating items, likely investment losses or impairments. Investors should monitor whether these are one-time or recurring, as they currently distort the true earning power of the mining assets.
ROIC Recovery Amidst Cash Drag
ROIC improved from 0.3% in 2025Q4 to 9.0% in 2026Q4, as reported, but ROE remains negative at -0.1%, reflecting the dilutive effect of a $421.9M cash pile earning minimal returns.
The sharp ROIC recovery is driven by operating margin expansion and asset turnover, but the negative ROE indicates that the large cash balance and non-operating losses are dragging shareholder returns. The company appears to be compounding returns on invested capital in its core operations, yet the undeployed cash and investment portfolio may be eroding overall capital efficiency.
Negative CCC Reflects Supplier Leverage
Cash conversion cycle improved to -147 days in 2026Q4, per financial data, driven by DPO of 169 days, indicating Silvercorp is financing operations through supplier credit while collecting receivables in just 2 days.
The consistently negative CCC, ranging from -88 to -147 days, suggests strong working capital management, with the company paying suppliers slowly and collecting quickly. This may indicate bargaining power over suppliers, but investors should consider whether extended payables are sustainable or could strain supplier relationships. Asset turnover remains low at 0.10, typical for capital-intensive mining, but improving from 0.06 in 2024Q4.
Minimal Debt, Ample Flexibility
Debt-to-equity rose to 0.11 in 2026Q4, but interest coverage of 13.95x and a $421.9M cash balance, per balance sheet data, indicate negligible refinancing risk and strong debt service capacity.
The modest increase in debt from zero to $118.4M appears manageable given the fortress balance sheet, with cash exceeding debt by a wide margin. The D/EBITDA of 1.17x is low, and interest coverage, though down from triple-digit levels, remains comfortable. This leverage profile suggests the company could easily fund growth or acquisitions without straining its balance sheet.
Record Cash Buffer Shields Operations
Current ratio stands at 3.58 with quick ratio of 3.50 in 2026Q4, per financial statements, and cash of $421.9M, providing a substantial cushion against operational shocks or commodity price downturns.
The liquidity position is exceptionally strong, with minimal inventory dependence (quick ratio nearly equals current ratio), indicating that the company can meet short-term obligations without relying on inventory sales. This buffer is particularly valuable given the cyclicality of silver prices and the geopolitical risks of operating in China. However, the large cash balance also creates an opportunity cost, as it earns minimal returns and drags on ROE.
Net Margin Misleads on Core Health
The -2.27% net margin in 2026Q4, per financial data, is commonly misapplied to judge operational performance, but it obscures a 51.92% operating margin and robust cash generation, suggesting non-operating items distort the picture.
Analysts often use net margin as a proxy for profitability, but for Silvercorp, this metric is heavily influenced by non-operating losses, likely from investments or impairments, which do not reflect the efficiency of the mining operations. Instead, investors should focus on operating margin and cash flow metrics, such as operating cash flow margin, which have remained strong. The negative net margin may indicate poor capital allocation outside core mining, but it does not signal operational weakness.