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First Majestic Silver Corp.

Financial Statements (IFRS) · Amounts in CAD
5 10 All
Income Statement
Balance Sheet
Cash Flow
Line Item FY 2025Dec 31, 2025 FY 2024Dec 31, 2024 FY 2023Dec 31, 2023 FY 2022Dec 31, 2022 FY 2021Dec 31, 2021
Total Revenue 1.3B 563.6M 576.4M 626.9M 587.2M
Operating Revenue 1.3B 563.6M 576.4M 626.9M 587.2M
Cost Of Revenue 815.1M 471.7M 550.7M 610.1M 485.8M
Gross Profit 450.0M 91.9M 25.6M 16.8M 101.4M
Selling General And Administration 67.5M 51.6M 50.4M 48.7M 37.7M
General And Administrative Expense 67.5M 51.6M 50.4M 48.7M 37.7M
Depreciation And Amortization In Income Statement 1.4M 1.5M 1.5M 1.6M 1.7M
Other Operating Expenses 31.2M 33.3M 30.4M 18.0M 15.3M
Operating Expense 100.1M 86.4M 82.3M 68.4M 54.6M
Operating Income 349.9M 5.5M -56.7M -51.6M 46.8M
EBIT 409.8M -11.0M -180.7M -48.5M 37.8M
Interest Expense 14.8M 15.4M 15.2M 12.9M 12.6M
Interest Expense Non Operating 14.8M 15.4M 15.2M 12.9M 12.6M
Interest Income 14.7M 5.2M 6.5M 2.4M 1.1M
Interest Income Non Operating 14.7M 5.2M 6.5M 2.4M 1.1M
Net Interest Income -3.8M -13.2M -11.4M -11.9M -12.1M
Other Income Expense 48.9M -18.8M -127.8M 2.1M -9.5M
Special Income Charges 14.2M 0.00 -142.3M 7.0M -9.1M
Restructuring And Mergern Acquisition 9.5M 0.00 6.9M 0.00 2.0M
Write Off -- 0.00 7.2M 0.00 0.00
Gain On Sale Of Security 34.7M -18.8M 14.5M -4.9M -357,000
Pretax Income 395.0M -26.5M -195.9M -61.4M 25.2M
Tax Provision 184.1M 75.4M -60.8M 52.9M 30.2M
Tax Effect Of Unusual Items 7.3M -2.8M -39.6M 543,595 -2.5M
Net Income From Continuing And Discontinued Operation 164.9M -101.9M -135.1M -114.3M -4.9M
Net Income From Continuing Operation Net Minority Interest 164.9M -101.9M -135.1M -114.3M -4.9M
Net Income Including Noncontrolling Interests 211.0M -101.9M -135.1M -114.3M -4.9M
Minority Interests -46.1M 0.00 -- -- --
Net Income Common Stockholders 164.9M -101.9M -135.1M -114.3M -4.9M
Net Income 164.9M -101.9M -135.1M -114.3M -4.9M
EBITDA 674.6M 114.5M -54.5M 88.9M 156.1M
Normalized EBITDA 625.7M 133.3M 73.3M 86.9M 165.6M
Reconciled Depreciation 264.8M 125.5M 126.2M 137.4M 118.3M
Basic EPS 0.34 -0.34 -0.48 -0.43 -0.02
Diluted EPS 0.34 -0.34 -0.48 -0.43 -0.02
Basic Average Shares 479.6M 295.5M 282.3M 263.1M 244.7M
Diluted Average Shares 484.6M 295.5M 282.3M 263.1M 244.7M
Total Unusual Items 48.9M -18.8M -127.8M 2.1M -9.5M
Total Unusual Items Excluding Goodwill 48.9M -18.8M -127.8M 2.1M -9.5M
Tax Rate For Calcs 0.15 0.15 0.31 0.26 0.27
Normalized Income 123.4M -85.9M -46.9M -115.8M 2.0M
Depreciation Amortization Depletion Income Statement 1.4M 1.5M 1.5M 1.6M 1.7M
Depreciation Income Statement 1.4M 1.5M 1.5M 1.6M 1.7M
Diluted NI Availto Com Stockholders 164.9M -101.9M -135.1M -114.3M -4.9M
Gain On Sale Of Business -- -- -- -- 0.00
Gain On Sale Of Ppe -- 0.00 -3.0M 4.3M --
Impairment Of Capital Assets -20.3M 0.00 125.2M -2.7M 2.5M
Net Income Continuous Operations 211.0M -101.9M -135.1M -114.3M -4.9M
Net Non Operating Interest Income Expense -3.8M -13.2M -11.4M -11.9M -12.1M
Other Gand A 26.5M 20.3M 18.9M 17.5M 12.9M
Other Special Charges -3.4M -- -- -- 4.6M
Reconciled Cost Of Revenue 551.7M 347.7M 426.1M 474.3M 369.2M
Salaries And Wages 41.1M 31.3M 31.5M 31.2M 24.8M
Total Expenses 915.2M 558.1M 633.0M 678.5M 540.4M
Total Operating Income As Reported 397.1M -3.8M -178.8M -39.2M 49.2M
Total Other Finance Cost 3.7M 3.0M 2.7M 1.3M 580,000
Line Item FY 2025Dec 31, 2025 FY 2024Dec 31, 2024 FY 2023Dec 31, 2023 FY 2022Dec 31, 2022 FY 2021Dec 31, 2021
Cash And Cash Equivalents 793.4M 202.2M 125.6M 151.4M 237.9M
Cash Cash Equivalents And Short Term Investments 973.8M 252.0M 188.0M 186.0M 264.4M
Other Short Term Investments 180.4M 49.8M 62.4M 34.5M 26.5M
Accounts Receivable 86.4M 12.3M 10.1M 8.6M 7.7M
Receivables 122.2M 46.2M 48.7M 41.2M 54.3M
Inventory 84.8M 62.5M 63.7M 64.8M 60.6M
Prepaid Assets -- -- -- -- 5.4M
Other Current Assets 12.0M 8.2M 8.7M 5.6M 5.4M
Current Assets 1.2B 368.8M 309.1M 370.3M 397.2M
Gross PPE 3.9B 2.0B 2.0B 2.0B 2.7B
Accumulated Depreciation -673.4M -611.1M -567.2M -491.6M -1.2B
Net PPE 3.3B 1.4B 1.4B 1.5B 1.5B
Other Non Current Assets 144.3M 106.1M 125.6M 125.2M 115.0M
Total Non Current Assets 3.5B 1.6B 1.7B 1.7B 1.7B
Total Assets 4.7B 2.0B 2.0B 2.1B 2.1B
Current Debt 151,000 426,000 426,000 431,000 69,000
Current Debt And Capital Lease Obligation 11.3M 17.0M 18.2M 14.4M 11.9M
Accounts Payable 115.3M 58.6M 48.2M 71.1M 72.4M
Payables 365.4M 84.1M 56.4M 92.9M 116.3M
Payables And Accrued Expenses 446.7M 126.0M 98.2M 133.4M 148.6M
Current Accrued Expenses 81.3M 41.9M 41.8M 40.5M 32.4M
Current Deferred Revenue 592,000 580,000 2.3M 3.4M 12.2M
Other Current Liabilities -1,000 -- -- 16.3M --
Current Liabilities 459.1M 144.3M 120.1M 167.4M 172.8M
Long Term Debt 291.7M 208.7M 219.0M 209.8M 181.1M
Long Term Debt And Capital Lease Obligation 297.5M 220.0M 238.3M 233.6M 209.1M
Long Term Capital Lease Obligation 5.7M 11.3M 19.3M 23.8M 28.0M
Other Non Current Liabilities 7.3M 5.6M 5.6M 5.7M 5.8M
Total Non Current Liabilities Net Minority Interest 1.1B 484.4M 498.1M 531.3M 541.2M
Total Liabilities Net Minority Interest 1.5B 628.7M 618.2M 698.7M 714.0M
Common Stock 3.1B 2.0B 1.9B 1.8B 1.7B
Capital Stock 3.1B 2.0B 1.9B 1.8B 1.7B
Retained Earnings -562.0M -717.1M -609.9M -468.9M -347.8M
Gains Losses Not Affecting Retained Earnings 243.8M 90.0M 88.0M 98.9M 98.9M
Other Equity Adjustments -- -- -- -- 98.9M
Common Stock Equity 2.8B 1.4B 1.4B 1.4B 1.4B
Stockholders Equity 2.8B 1.4B 1.4B 1.4B 1.4B
Total Equity Gross Minority Interest 3.2B 1.4B 1.4B 1.4B 1.4B
Minority Interest 412.0M 0.00 -- -- --
Total Capitalization 3.1B 1.6B 1.6B 1.6B 1.6B
Net Tangible Assets 2.8B 1.4B 1.4B 1.4B 1.4B
Tangible Book Value 2.8B 1.4B 1.4B 1.4B 1.4B
Working Capital 733.6M 224.5M 188.9M 202.9M 224.4M
Invested Capital 3.1B 1.6B 1.6B 1.6B 1.6B
Total Debt 308.7M 237.0M 256.5M 247.9M 221.1M
Net Debt -- 6.9M 93.8M 58.8M --
Share Issued 491.3M 301.9M 287.1M 274.5M 260.1M
Ordinary Shares Number 491.3M 301.9M 287.1M 274.5M 260.1M
Assets Held For Sale Current -- -- 0.00 72.7M 0.00
Capital Lease Obligations 16.5M 27.5M 36.7M 37.6M 39.9M
Construction In Progress 85.1M 43.3M 48.7M 73.9M 90.5M
Current Capital Lease Obligation 10.8M 16.2M 17.4M 13.8M 11.8M
Current Deferred Liabilities 592,000 580,000 2.3M 3.4M 12.2M
Current Provisions 590,000 709,000 1.5M 3.6M 3.3M
Finished Goods 62.2M 43.2M 42.7M 42.8M 14.5M
Income Tax Payable 239.4M 22.8M 5.2M 18.2M 28.0M
Land And Improvements 366.9M 257.8M 245.3M 237.2M 245.0M
Leases 5.0M 7.0M 8.5M 8.4M 8.3M
Long Term Provisions 187.1M 159.1M 151.6M 149.0M 153.6M
Machinery Furniture Equipment 740.7M 648.4M 641.0M 595.0M 624.5M
Non Current Accounts Receivable 11.1M 10.8M 14.2M 12.4M 572,000
Non Current Deferred Assets 80.4M 46.4M 88.7M 57.1M 74.3M
Non Current Deferred Liabilities 571.0M 80.1M 79.0M 122.5M 150.8M
Non Current Deferred Taxes Assets 80.4M 46.4M 88.7M 57.1M 74.3M
Non Current Deferred Taxes Liabilities 571.0M 80.1M 79.0M 122.5M 150.8M
Non Current Note Receivables 5.0M 5.0M -- -- --
Non Current Prepaid Assets 6.5M 5.7M 6.4M 6.0M 10.9M
Other Current Borrowings 151,000 426,000 426,000 431,000 69,000
Other Payable -- -- -- -- 12.6M
Other Properties 50.6M 57.0M 57.2M 55.0M 54.5M
Raw Materials 18.8M 15.2M 13.4M 12.8M 39.7M
Restricted Cash -- -- -- 0.00 12.6M
Taxes Receivable 35.8M 33.9M 38.6M 32.6M 46.5M
Total Tax Payable 250.1M 25.5M 8.2M 21.8M 31.3M
Tradeand Other Payables Non Current 0.00 19.7M 23.6M 20.6M 21.8M
Work In Process 3.7M 4.2M 7.5M 9.2M 6.4M
Line Item FY 2025Dec 31, 2025 FY 2024Dec 31, 2024 FY 2023Dec 31, 2023 FY 2022Dec 31, 2022 FY 2021Dec 31, 2021
Operating Cash Flow 526.0M 152.0M 55.6M 19.0M 68.7M
Cash Flow From Continuing Operating Activities 526.0M 152.0M 55.6M 19.0M 68.7M
Depreciation Amortization Depletion 264.8M 125.5M 126.2M 137.4M 118.3M
Stock Based Compensation 12.6M 12.2M 12.9M 14.0M 12.3M
Deferred Tax 184.1M 75.4M -60.8M 52.9M 30.2M
Deferred Income Tax 184.1M 75.4M -60.8M 52.9M 30.2M
Change In Working Capital -62.6M 29.2M -18.9M -27.7M -31.5M
Changes In Account Receivables -55.1M -1.5M -1.5M -870,000 -3.4M
Change In Receivables -55.4M 6.6M -9.3M 862,000 6.5M
Change In Inventory -319,000 2.3M -505,000 -3.4M -9.0M
Change In Payables And Accrued Expense 28.6M 298,000 -5.7M -27.2M 19.9M
Change In Payable 28.6M 298,000 -5.7M -27.2M 19.9M
Change In Other Working Capital -38.2M 19.5M -380,000 2.4M -48.0M
Other Non Cash Items 24.6M 27.5M 23.3M 22.2M 16.9M
Capital Expenditure -215.7M -115.1M -146.0M -217.7M -189.0M
Purchase Of PPE -67.1M -20.0M -32.0M -59.7M -56.6M
Net PPE Purchase And Sale -67.1M -20.0M -32.0M -59.7M -56.6M
Purchase Of Business -- 0.00 -5.4M 0.00 -948,000
Sale Of Business 159.6M 0.00 -- -- --
Investing Cash Flow -28.2M -114.2M -154.0M -213.8M -180.8M
Cash Flow From Continuing Investing Activities -28.2M -114.2M -154.0M -213.8M -180.8M
Issuance Of Debt 340.5M 0.00 0.00 50.0M 252.8M
Repayment Of Debt -232.9M -37.3M -15.2M -43.5M -221.1M
Net Issuance Payments Of Debt 107.6M -37.3M -15.2M 6.5M 31.6M
Issuance Of Capital Stock 0.00 93.9M 92.1M 113.4M 66.7M
Repurchase Of Capital Stock -8.7M -271,000 0.00 -665,000 -42,000
Net Common Stock Issuance -8.7M 93.6M 92.1M 112.7M 66.6M
Common Stock Dividend Paid -9.8M -5.3M -5.9M -6.9M -3.9M
Common Stock Payments -8.7M -271,000 0.00 -665,000 -42,000
Financing Cash Flow 88.6M 42.4M 64.6M 113.9M 111.8M
Cash Flow From Continuing Financing Activities 88.6M 42.4M 64.6M 113.9M 111.8M
Effect Of Exchange Rate Changes 4.8M -3.6M 2.7M -346,000 -439,000
Changes In Cash 586.4M 80.2M -33.7M -80.9M -213,000
Beginning Cash Position 202.2M 125.6M 151.4M 237.9M 238.6M
End Cash Position 793.4M 202.2M 125.6M 151.4M 237.9M
Free Cash Flow 310.4M 36.8M -90.4M -198.7M -120.2M
Asset Impairment Charge -20.3M 0.00 132.4M -2.7M 2.5M
Capital Expenditure Reported -148.6M -95.1M -114.0M -158.0M -132.4M
Cash Dividends Paid -9.8M -5.3M -5.9M -6.9M -3.9M
Change In Account Payable 39.0M 2.8M -6.2M -22.7M 16.6M
Change In Income Tax Payable -10.4M -2.5M 531,000 -4.4M 3.3M
Change In Prepaid Assets 2.7M 552,000 -3.1M -316,000 -903,000
Change In Tax Payable -10.4M -2.5M 531,000 -4.4M 3.3M
Common Stock Issuance 0.00 93.9M 92.1M 113.4M 66.7M
Gain Loss On Investment Securities -- -- -- -- 1.5M
Gain Loss On Sale Of Business -- -- -- -- 0.00
Gain Loss On Sale Of PPE -- 0.00 3.0M -4.3M --
Interest Paid Cff -8.0M -8.8M -8.5M -3.2M -4.3M
Long Term Debt Issuance 340.5M 0.00 0.00 50.0M 252.8M
Long Term Debt Payments -232.9M -37.3M -15.2M -43.5M -181.1M
Net Business Purchase And Sale 159.6M 0.00 -5.4M 0.00 -948,000
Net Foreign Currency Exchange Gain Loss -- -- -- -- -6.1M
Net Income From Continuing Operations 211.0M -101.9M -135.1M -114.3M -4.9M
Net Long Term Debt Issuance 107.6M -37.3M -15.2M 6.5M 71.6M
Net Other Financing Charges -41.2M -- -- -- --
Net Other Investing Changes 27.9M 961,000 -2.6M 3.9M 9.2M
Net Short Term Debt Issuance -- -- -- -30.0M -40.0M
Operating Gains Losses -- -- 3.0M -4.3M -4.5M
Other Cash Adjustment Outside Changein Cash -- 0.00 5.2M -5.2M 0.00
Proceeds From Stock Option Exercised 48.8M 116,000 2.1M 4.7M 21.8M
Short Term Debt Issuance -- -- -- -- 30.0M
Short Term Debt Payments -- -- -- -30.0M -40.0M
Taxes Refund Paid -78.6M -15.8M -24.7M -62.7M -76.5M
Unrealized Gain Loss On Investment Securities -9.5M -119,000 -2.6M 4.2M 1.5M
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