What is Silver Standard Resources' operating income?

Silver Standard Resources' total operating income in 2025 was $461.44 million, based on the following breakdown: Total Gross Profit: $976.33 million Total Operating Expenses: $514.89 million

Silver Standard Resources (SSRM) Financials

$37.75 +1.92 (+5.36%)

Closing price 04:00 PM Eastern

Extended Trading

$37.66 -0.09 (-0.24%)

As of 05:34 PM Eastern

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Annual Income Statements for Silver Standard Resources

This table shows Silver Standard Resources' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	65	69	-6.44	103	152	368	194	-98	-261	396
Consolidated Net Income / (Loss)	65	71	-0.03	101	157	426	210	-120	-353	362
Net Income / (Loss) Continuing Operations	65	71	-0.03	101	157	426	210	-120	-353	362
Total Pre-Tax Income	81	75	8.09	137	202	415	241	-202	-319	443
Total Operating Income	113	101	30	118	188	444	190	-130	-322	461
Total Gross Profit	154	113	176	257	409	803	540	623	482	976
Total Revenue	491	449	421	607	853	1,474	1,148	1,427	996	1,630
Operating Revenue	491	449	421	607	853	-	1,148	1,427	996	1,630
Total Cost of Revenue	337	336	245	350	445	671	608	804	514	653
Operating Cost of Revenue	-	336	245	350	445	671	608	804	514	653
Total Operating Expenses	41	12	146	139	220	358	350	753	804	515
Selling, General & Admin Expense	22	20	33	31	34	57	72	67	63	108
Exploration Expense	15	16	14	-	27	42	47	50	42	37
Depreciation Expense	-	-	99	86	109	228	181	214	130	116
Other Operating Expenses / (Income)	-	-	-	22	50	11	50	9.97	454	254
Total Other Income / (Expense), net	-32	-27	-22	18	14	-30	51	-72	3.55	-18
Interest Expense	26	35	34	16	14	19	19	17	13	15
Other Income / (Expense), net	-7.42	2.00	0.06	34	27	-11	70	-56	17	-3.72
Income Tax Expense	16	3.12	8.12	35	43	-14	30	-83	33	80
Other Gains / (Losses), net	-	-	-	0.00	-1.43	-2.95	-0.34	-0.35	-0.55	-0.49
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	-2.15	6.41	-1.56	5.63	58	16	-22	-91	-33
Basic Earnings per Share	$0.63	$0.58	-	$0.84	$1.00	$1.70	$0.92	($0.48)	($1.29)	$1.95
Weighted Average Basic Shares Outstanding	-	119.84M	120.74M	-	219.61M	212.38M	206.76M	204.71M	202.26M	202.75M
Diluted Earnings per Share	$0.62	$0.57	$0.05	$0.78	$0.96	$1.63	$0.89	($0.48)	($1.29)	$1.85
Weighted Average Diluted Shares Outstanding	-	119.84M	120.74M	-	219.61M	212.38M	206.76M	204.71M	202.26M	217.03M
Weighted Average Basic & Diluted Shares Outstanding	-	119.84M	120.74M	-	219.61M	212.38M	206.76M	202.46M	202.39M	203.33M

This table shows Silver Standard Resources' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	-218	-287	9.69	11	5.56	59	90	65	181	-106	97
Consolidated Net Income / (Loss)	-264	-358	2.46	6.25	-3.14	54	80	57	171	-115	92
Net Income / (Loss) Continuing Operations	-264	-358	2.46	6.25	-3.14	89	132	57	171	250	137
Total Pre-Tax Income	-335	-378	14	7.15	38	106	161	72	207	310	185
Total Operating Income	-298	-376	11	9.04	34	107	168	83	202	300	192
Total Gross Profit	206	104	88	119	170	180	243	220	334	387	270
Total Revenue	426	230	185	257	323	317	405	386	522	582	444
Operating Revenue	426	230	185	257	323	317	405	386	522	582	444
Total Cost of Revenue	220	126	97	138	153	137	163	166	188	195	174
Operating Cost of Revenue	220	126	97	138	153	137	163	166	188	195	174
Total Operating Expenses	504	481	78	110	136	73	74	137	131	86	78
Selling, General & Admin Expense	15	13	13	19	18	24	27	40	17	38	28
Exploration Expense	11	10	11	11	8.95	5.96	6.06	10	13	5.30	8.96
Depreciation Expense	66	38	23	30	38	31	26	28	31	30	31
Other Operating Expenses / (Income)	3.05	305	30	49	71	13	16	58	70	12	11
Total Other Income / (Expense), net	-38	-1.80	3.74	-1.89	3.50	-1.17	-6.81	-11	4.17	9.58	-6.34
Interest Expense	2.52	4.66	2.11	2.94	3.33	1.79	2.59	3.58	3.40	1.27	0.39
Other Income / (Expense), net	-35	2.85	5.84	1.05	6.83	0.62	-4.22	-7.57	7.56	11	-5.95
Income Tax Expense	-71	-20	12	0.87	41	16	29	15	36	60	48
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-35	-52	-	-	-365	-45
Net Income / (Loss) Attributable to Noncontrolling Interest	-47	-71	-7.23	-4.31	-8.69	-4.34	-9.71	-8.35	-11	-8.70	-4.85
Weighted Average Basic Shares Outstanding	202.46M	202.36M	202.13M	202.14M	202.39M	202.42M	202.77M	202.78M	202.75M	205.62M	208.01M
Weighted Average Diluted Shares Outstanding	202.46M	202.36M	202.41M	202.45M	202.39M	216.55M	216.99M	217.46M	217.03M	217.65M	209.17M
Weighted Average Basic & Diluted Shares Outstanding	202.46M	202.09M	202.10M	202.37M	202.39M	202.78M	202.78M	203.00M	203.33M	207.49M	203.91M

This table details how cash moves in and out of Silver Standard Resources' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	115	133	-41	85	390	157	-364	-197	-105	147
Net Cash From Operating Activities	168	126	60	118	307	609	161	422	40	472
Net Cash From Continuing Operating Activities	168	126	77	118	307	609	161	422	40	472
Net Income / (Loss) Continuing Operations	65	71	-0.03	101	157	426	210	-120	-353	362
Consolidated Net Income / (Loss)	65	71	-0.03	101	157	426	210	-120	-353	362
Depreciation Expense	76	102	100	86	109	228	181	214	130	116
Non-Cash Adjustments To Reconcile Net Income	11	-51	-10	-13	54	119	-19	590	354	184
Changes in Operating Assets and Liabilities, net	16	3.12	-13	-58	-15	-165	-212	-262	-91	-191
Net Cash From Investing Activities	-21	27	-116	-115	240	-129	-236	-339	-143	-340
Net Cash From Continuing Investing Activities	-21	27	-116	-115	240	-129	-236	-339	-143	-340
Purchase of Property, Plant & Equipment	-	-29	-158	-111	-139	-165	-138	-223	-144	-230
Acquisitions	0.00	-13	0.00	-2.42	303	0.00	-170	-120	0.00	-106
Purchase of Investments	-	0.00	-23	-3.44	-30	-10	-9.00	-15	-31	-102
Sale of Property, Plant & Equipment	-42	-	-	1.21	8.54	2.51	35	0.00	4.85	0.00
Sale and/or Maturity of Investments	4.97	69	63	3.31	97	11	44	20	27	97
Other Investing Activities, net	-	-	1.71	-2.93	-0.06	-0.74	1.25	-0.08	-0.45	0.66
Net Cash From Financing Activities	-18	0.00	21	81	-158	-320	-272	-182	6.92	26
Net Cash From Continuing Financing Activities	-18	0.00	21	81	-158	-320	-272	-182	6.92	26
Repayment of Debt	-	-	0.00	70	-150	-71	-71	-71	-0.92	-2.52
Repurchase of Common Equity	-	-	-	0.00	0.00	-148	-100	-56	-9.83	0.00
Payment of Dividends	-	-	-	0.00	0.00	-99	-93	-58	0.00	0.00
Issuance of Debt	-18	-	0.00	0.00	3.09	-	0.00	6.54	22	34
Other Financing Activities, net	-	-	21	7.38	-11	-1.66	-7.46	-3.87	-4.58	-4.94
Effect of Exchange Rate Changes	-1.09	-1.10	-	0.01	0.79	-3.14	-17	-97	-8.54	-11

This table details how cash moves in and out of Silver Standard Resources' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	55	-25	-109	-24	54	-58	92	-2.77	126	109	1,158
Net Cash From Operating Activities	203	25	-78	-1.35	95	82	158	57	172	264	100
Net Cash From Continuing Operating Activities	203	25	-78	-1.35	95	117	158	57	172	300	121
Net Income / (Loss) Continuing Operations	-264	-358	2.46	6.25	-3.14	89	80	57	171	250	138
Consolidated Net Income / (Loss)	-264	-358	2.46	6.25	-3.14	54	80	57	171	-115	92
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-35	-	-	-	-365	-45
Depreciation Expense	66	38	23	30	38	31	26	28	31	30	31
Non-Cash Adjustments To Reconcile Net Income	516	376	-45	-20	44	13	94	52	9.89	28	15
Changes in Operating Assets and Liabilities, net	-115	-32	-59	-18	16	-16	-43	-80	-39	-8.28	-63
Net Cash From Discontinued Operating Activities	-	-	-	-	-	-34	-	-	-	-35	-21
Net Cash From Investing Activities	-59	-37	-32	-35	-40	-152	-69	-64	-53	-86	1,399
Net Cash From Continuing Investing Activities	-59	-37	-32	-35	-40	-151	-69	-64	-53	-86	1,455
Purchase of Property, Plant & Equipment	-59	-34	-38	-33	-39	-45	-59	-60	-66	-89	-33
Purchase of Investments	-12	-6.34	-3.29	-13	-9.04	-6.14	-37	-33	-17	-1.62	-20
Sale and/or Maturity of Investments	11	3.72	5.03	11	8.05	8.86	27	26	29	4.66	11
Net Cash From Discontinued Investing Activities	-	-	-	-	-	-0.95	-	-	-	-0.48	-56
Net Cash From Financing Activities	-24	-11	1.49	14	2.31	2.68	7.86	10	5.44	-78	-341
Net Cash From Continuing Financing Activities	-24	-11	1.49	14	2.31	3.60	7.86	10	5.44	-77	-354
Repayment of Debt	-	0.00	-0.92	-	-	0.00	-0.25	-	-2.52	-0.03	-65
Issuance of Debt	2.04	0.00	-	-	3.87	3.60	9.30	11	9.33	15	50
Other Financing Activities, net	-0.98	-1.00	-1.01	-1.02	-1.56	0.00	-1.19	-1.20	-1.36	-92	-1.91
Net Cash From Discontinued Financing Activities	-	-	-	-	-	-0.93	-	-	-	-1.23	14
Effect of Exchange Rate Changes	-65	-2.42	-0.38	-1.57	-4.19	-1.50	-4.70	-6.52	1.35	2.91	-4.13
Other Net Changes in Cash	-	-	-	-	-	10	-	-	-	6.42	3.02

This table presents Silver Standard Resources' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,439	1,537	1,521	1,750	5,177	5,211	5,255	5,386	5,189	6,094
Total Current Assets	704	800	733	900	1,424	1,600	1,376	1,196	1,029	1,287
Cash & Equivalents	327	460	419	504	861	1,018	655	492	388	516
Short-Term Investments	149	114	30	66	27	40	40	21	29	41
Accounts Receivable	58	38	43	72	83	121	118	142	124	134
Inventories, net	155	183	233	238	437	389	502	515	464	489
Prepaid Expenses	-	-	-	-	16	32	28	26	23	23
Other Current Nonoperating Assets	-	-	-	-	-	-	-	-	-	85
Plant, Property, & Equipment, net	664	659	701	769	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	71	79	87	77	3,754	3,611	3,878	4,189	4,160	4,807
Noncurrent Deferred & Refundable Income Taxes	1.10	0.00	7.52	0.06	15	8.50	1.92	22	7.60	4.86
Other Noncurrent Operating Assets	20	29	30	27	3,681	3,548	3,826	4,167	4,152	1,411
Other Noncurrent Nonoperating Assets	-	-	-	-	-	-	-	-	-	3,391
Total Liabilities & Shareholders' Equity	1,439	1,537	1,521	1,750	5,177	5,211	5,255	5,386	5,189	6,094
Total Liabilities	537	514	515	616	1,327	1,159	1,128	1,082	1,242	1,780
Total Current Liabilities	144	71	83	234	249	284	279	171	219	618
Short-Term Debt	-	-	-	-	71	71	72	0.92	11	316
Accounts Payable	62	60	83	111	43	35	79	37	31	25
Accrued Expenses	-	-	-	-	132	165	125	125	139	193
Other Current Liabilities	83	11	-	-	3.57	12	3.87	7.92	38	11
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	-	-	73
Total Noncurrent Liabilities	393	442	432	505	1,078	875	849	911	1,023	1,161
Asset Retirement Reserve & Litigation Obligation	-	-	0.21	8.77	103	123	154	170	313	390
Noncurrent Deferred & Payable Income Tax Liabilities	117	115	108	128	473	339	342	364	327	125
Other Noncurrent Operating Liabilities	56	94	76	81	135	118	126	143	137	115
Other Noncurrent Nonoperating Liabilities	-	-	-	-	-	-	-	-	-	531
Total Equity & Noncontrolling Interests	902	1,024	1,006	1,134	3,847	4,053	4,126	4,304	3,947	4,314
Total Preferred & Common Equity	902	1,001	974	1,134	3,335	3,538	3,580	3,373	3,107	3,508
Total Common Equity	902	1,001	974	1,134	3,335	3,538	3,580	3,373	3,107	3,508
Common Stock	1,044	1,047	1,055	1,084	3,243	3,140	3,058	3,005	2,994	2,999
Retained Earnings	-209	-140	-133	-76	92	398	522	368	113	509
Noncontrolling Interest	0.00	23	32	0.00	512	515	546	931	840	806

This table presents Silver Standard Resources' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	5,235	5,739	5,750	5,252	5,176	5,144	5,645	5,796	5,908	5,947	4,279
Total Current Assets	1,342	1,155	1,158	1,082	1,022	996	1,025	1,147	1,206	3,669	2,469
Cash & Equivalents	562	379	438	467	358	334	320	412	409	634	1,783
Short-Term Investments	34	33	29	25	26	31	22	26	36	40	51
Accounts Receivable	162	125	135	104	111	115	117	117	122	139	96
Inventories, net	519	561	533	465	508	495	544	569	586	523	511
Prepaid Expenses	32	23	24	21	19	21	22	23	53	73	29
Other Current Nonoperating Assets	-	-	-	-	-	-	-	-	-	2,260	0.00
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	3,892	4,584	4,592	4,170	4,154	4,147	4,620	4,648	4,702	2,278	1,810
Noncurrent Deferred & Refundable Income Taxes	1.92	0.00	0.00	27	25	20	5.77	5.58	11	4.57	4.73
Other Noncurrent Operating Assets	3,840	4,534	4,542	4,142	4,129	4,127	4,614	4,643	4,690	2,273	1,541
Other Noncurrent Nonoperating Assets	-	-	-	-	-	-	-	-	-	0.00	264
Total Liabilities & Shareholders' Equity	5,235	5,739	5,750	5,252	5,176	5,144	5,645	5,796	5,908	5,947	4,279
Total Liabilities	1,097	1,128	1,157	1,313	1,234	1,195	1,641	1,710	1,763	1,518	888
Total Current Liabilities	251	204	166	353	289	255	260	481	501	689	252
Short-Term Debt	53	36	0.91	0.96	0.00	11	11	240	240	0.00	0.00
Accounts Payable	80	56	53	31	24	27	42	37	41	37	33
Accrued Expenses	113	108	108	131	116	118	159	166	186	228	209
Other Current Liabilities	3.88	3.94	3.97	190	148	99	48	37	33	7.99	10
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	-	-	416	0.00
Total Noncurrent Liabilities	846	924	990	960	946	940	1,381	1,229	1,262	829	635
Asset Retirement Reserve & Litigation Obligation	156	162	164	240	230	232	522	596	605	397	397
Noncurrent Deferred & Payable Income Tax Liabilities	340	386	444	346	340	330	334	325	320	207	130
Other Noncurrent Operating Liabilities	123	150	155	146	148	136	275	278	295	159	108
Other Noncurrent Nonoperating Liabilities	-	-	-	-	-	-	-	-	-	0.00	0.00
Total Equity & Noncontrolling Interests	4,138	4,612	4,593	3,939	3,941	3,949	4,004	4,086	4,144	4,429	3,392
Total Preferred & Common Equity	3,592	3,614	3,615	3,079	3,088	3,100	3,168	3,260	3,327	3,631	3,392
Total Common Equity	3,592	3,614	3,615	3,079	3,088	3,100	3,168	3,260	3,327	3,631	3,392
Common Stock	3,055	3,017	3,018	2,991	2,991	2,992	2,996	2,998	2,999	3,228	3,076
Retained Earnings	537	597	598	88	97	108	172	262	328	403	315
Noncontrolling Interest	546	998	978	860	853	849	835	826	817	798	0.00

This table displays calculated financial ratios and metrics derived from Silver Standard Resources' official financial filings.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	-8.60%	-6.26%	44.26%	40.58%	72.81%	-22.13%	24.29%	-30.23%	63.68%
EBITDA Growth	0.00%	13.48%	-36.62%	83.79%	35.93%	103.39%	-33.40%	-93.61%	-721.95%	426.98%
EBIT Growth	0.00%	-1.77%	-71.01%	408.94%	41.45%	101.17%	-40.08%	-171.47%	-64.54%	249.73%
NOPAT Growth	0.00%	7.50%	-100.12%	76,650.40%	68.73%	210.54%	-63.76%	-154.75%	-147.45%	267.50%
Net Income Growth	0.00%	10.02%	-100.04%	326,609.68%	55.27%	171.01%	-50.59%	-157.13%	-193.27%	202.79%
EPS Growth	0.00%	-8.06%	-91.23%	1,460.00%	23.08%	69.79%	-45.40%	-153.93%	-168.75%	243.41%
Operating Cash Flow Growth	0.00%	-25.20%	-52.49%	97.66%	159.95%	98.30%	-73.58%	162.11%	-90.48%	1,075.81%
Free Cash Flow Firm Growth	0.00%	0.00%	-355.48%	153.90%	-3,787.99%	120.51%	-134.61%	-145.99%	103.15%	258.14%
Invested Capital Growth	0.00%	7.81%	17.79%	2.75%	310.32%	-1.07%	10.07%	8.96%	-5.93%	8.73%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-8.13%	9.14%	-9.35%	13.87%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-3.78%	-93.92%	66.34%	39.15%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.99%	-169.01%	55.01%	58.36%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-45.70%	-145.86%	50.74%	86.76%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-22.57%	-150.24%	42.56%	91.99%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-12.75%	-148.48%	45.34%	77.88%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-29.25%	25.27%	-72.94%	19.52%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	35.27%	-77.93%	-16.68%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.46%	-7.55%	-1.28%	3.41%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	31.37%	25.24%	41.73%	42.39%	47.89%	54.46%	47.04%	43.64%	48.37%	59.91%
EBITDA Margin	36.94%	45.86%	31.01%	39.50%	38.20%	44.96%	38.45%	1.98%	-17.63%	35.22%
Operating Margin	22.93%	22.58%	7.11%	19.51%	22.07%	30.14%	16.57%	-9.13%	-32.37%	28.32%
EBIT Margin	21.42%	23.02%	7.12%	25.13%	25.28%	29.43%	22.64%	-13.02%	-30.71%	28.09%
Profit (Net Income) Margin	13.23%	15.92%	-0.01%	16.68%	18.42%	28.89%	18.33%	-8.43%	-35.41%	22.24%
Tax Burden Percent	80.21%	95.82%	-0.38%	74.07%	77.88%	102.69%	87.37%	59.40%	110.62%	81.78%
Interest Burden Percent	76.99%	72.19%	27.00%	89.63%	93.57%	95.60%	92.65%	108.94%	104.26%	96.82%
Effective Tax Rate	19.79%	4.18%	100.38%	25.93%	21.41%	-3.40%	12.48%	0.00%	0.00%	18.11%
Return on Invested Capital (ROIC)	14.25%	14.74%	-0.02%	10.75%	7.01%	13.62%	4.72%	-2.36%	-5.78%	9.56%
ROIC Less NNEP Spread (ROIC-NNEP)	23.71%	23.16%	-0.05%	5.43%	4.61%	19.44%	-3.07%	5.82%	52.14%	18.23%
Return on Net Nonoperating Assets (RNNOA)	-7.05%	-7.32%	0.01%	-1.29%	-0.71%	-2.84%	0.42%	-0.49%	-2.77%	-0.79%
Return on Equity (ROE)	7.20%	7.42%	0.00%	9.46%	6.31%	10.78%	5.15%	-2.85%	-8.55%	8.77%
Cash Return on Invested Capital (CROIC)	0.00%	7.23%	-16.35%	8.04%	-114.61%	14.69%	-4.87%	-10.94%	0.34%	1.20%
Operating Return on Assets (OROA)	7.31%	6.94%	1.96%	9.32%	6.23%	8.35%	4.97%	-3.49%	-5.78%	8.11%
Return on Assets (ROA)	4.52%	4.80%	0.00%	6.19%	4.54%	8.20%	4.02%	-2.26%	-6.67%	6.42%
Return on Common Equity (ROCE)	7.20%	7.33%	0.00%	9.32%	5.65%	9.37%	4.48%	-2.35%	-6.71%	7.03%
Return on Equity Simple (ROE_SIMPLE)	7.20%	7.14%	0.00%	8.93%	4.71%	12.04%	5.88%	-3.56%	-11.35%	0.00%
Net Operating Profit after Tax (NOPAT)	90	97	-0.11	88	148	459	167	-91	-226	378
NOPAT Margin	18.40%	21.64%	-0.03%	14.45%	17.34%	31.17%	14.50%	-6.39%	-22.66%	23.19%
Net Nonoperating Expense Percent (NNEP)	-9.46%	-8.42%	0.03%	5.32%	2.41%	-5.82%	7.79%	-8.18%	-57.92%	-8.67%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	3.76%	-2.01%	-5.37%	8.05%
Cost of Revenue to Revenue	68.63%	74.76%	58.27%	57.61%	52.11%	45.54%	52.96%	56.36%	51.63%	40.09%
SG&A Expenses to Revenue	4.50%	4.53%	7.83%	5.13%	3.94%	3.84%	6.24%	4.73%	6.32%	6.62%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	8.43%	2.66%	34.63%	22.88%	25.82%	24.31%	30.47%	52.77%	80.74%	31.60%
Earnings before Interest and Taxes (EBIT)	105	103	30	152	216	434	260	-186	-306	458
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	181	206	130	240	326	663	441	28	-176	574
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	1.42	1.95	0.69	1.06	0.89	0.65	0.45	1.27
Price to Tangible Book Value (P/TBV)	0.00	0.00	1.49	2.04	0.70	1.07	0.90	0.65	0.45	1.27
Price to Revenue (P/Rev)	0.00	0.00	3.28	3.65	2.71	2.54	2.76	1.54	1.41	2.73
Price to Earnings (P/E)	0.00	0.00	0.00	21.55	15.26	10.18	16.34	0.00	0.00	11.24
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	1.17%	1.82%	2.60%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	4.64%	6.55%	9.82%	6.12%	0.00%	0.00%	8.89%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	1.50	2.34	0.70	1.06	0.89	0.71	0.55	1.23
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	2.88	3.18	2.78	2.42	2.86	1.99	2.10	3.10
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	9.28	8.06	7.28	5.38	7.45	100.87	0.00	8.82
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	40.41	12.67	10.99	8.22	12.65	0.00	0.00	11.05
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	22.04	16.02	7.76	19.75	0.00	0.00	13.39
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	20.26	16.36	7.72	5.86	20.44	6.75	52.04	10.72
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	29.47	0.00	7.19	0.00	0.00	157.27	106.66
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.24	0.23	0.25	0.25	0.11	0.09	0.07	0.05	0.07	0.09
Long-Term Debt to Equity	0.24	0.23	0.25	0.25	0.10	0.07	0.05	0.05	0.06	0.01
Financial Leverage	-0.30	-0.32	-0.27	-0.24	-0.15	-0.15	-0.14	-0.08	-0.05	-0.04
Leverage Ratio	1.60	1.55	1.51	1.53	1.39	1.31	1.28	1.26	1.28	1.37
Compound Leverage Factor	1.23	1.12	0.41	1.37	1.30	1.26	1.19	1.38	1.34	1.32
Debt to Total Capital	19.61%	18.55%	19.75%	20.22%	10.21%	8.30%	6.74%	5.18%	6.12%	8.07%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	1.66%	1.62%	1.62%	0.02%	0.26%	6.97%
Long-Term Debt to Total Capital	19.61%	18.55%	19.75%	20.22%	8.55%	6.69%	5.12%	5.16%	5.86%	1.10%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	1.83%	2.54%	0.00%	12.02%	11.65%	12.35%	20.51%	19.98%	17.19%
Common Equity to Total Capital	80.39%	79.62%	77.71%	79.78%	77.77%	80.05%	80.91%	74.31%	73.90%	74.75%
Debt to EBITDA	1.21	1.13	1.90	1.20	1.34	0.55	0.68	8.33	-1.47	0.66
Net Debt to EBITDA	-1.41	-1.66	-1.54	-1.18	-1.40	-1.05	-0.98	-9.87	0.91	-0.34
Long-Term Debt to EBITDA	1.21	1.13	1.90	1.20	1.13	0.45	0.51	8.29	-1.40	0.09
Debt to NOPAT	2.44	2.40	-2,160.99	3.28	2.96	0.80	1.79	-2.58	-1.14	1.00
Net Debt to NOPAT	-2.83	-3.51	1,756.40	-3.22	-3.09	-1.51	-2.59	3.05	0.71	-0.52
Long-Term Debt to NOPAT	2.44	2.40	-2,160.99	3.28	2.48	0.64	1.36	-2.57	-1.09	0.14
Altman Z-Score	0.00	0.00	2.34	3.19	1.65	2.91	2.46	1.69	0.90	2.26
Noncontrolling Interest Sharing Ratio	0.00%	1.20%	2.70%	1.49%	10.34%	13.04%	12.97%	17.53%	21.46%	19.93%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.88	11.19	8.81	3.84	5.71	5.64	4.93	7.01	4.70	2.08
Quick Ratio	3.70	8.56	5.90	2.74	3.89	4.15	2.91	3.84	2.48	1.15
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	48	-122	66	-2,418	496	-172	-422	13	47
Operating Cash Flow to CapEx	397.83%	435.30%	37.82%	107.98%	235.41%	375.21%	157.05%	188.76%	28.94%	204.97%
Free Cash Flow to Firm to Interest Expense	0.00	1.37	-3.62	4.15	-174.26	25.97	-8.98	-25.41	1.02	3.25
Operating Cash Flow to Interest Expense	6.48	3.61	1.78	7.47	22.13	31.89	8.42	25.38	3.08	32.37
Operating Cash Flow Less CapEx to Interest Expense	4.85	2.78	-2.92	0.55	12.73	23.39	3.06	11.93	-7.56	16.58
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.34	0.30	0.28	0.37	0.25	0.28	0.22	0.27	0.19	0.29
Accounts Receivable Turnover	8.40	9.30	10.40	10.58	11.00	14.41	9.61	10.98	7.47	12.48
Inventory Turnover	2.18	1.99	1.18	1.49	1.32	1.62	1.36	1.58	1.05	1.33
Fixed Asset Turnover	0.74	0.68	0.62	0.83	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	5.48	5.52	3.42	3.60	5.77	17.27	10.69	13.86	15.20	18.30
Days Sales Outstanding (DSO)	43.44	39.24	35.09	34.48	33.17	25.33	38.00	33.23	48.87	29.25
Days Inventory Outstanding (DIO)	167.80	183.58	309.24	245.50	276.95	224.65	267.48	230.75	347.66	273.87
Days Payable Outstanding (DPO)	66.61	66.17	106.62	101.36	63.24	21.14	34.15	26.33	24.01	19.94
Cash Conversion Cycle (CCC)	144.62	156.65	237.71	178.63	246.88	228.84	271.32	237.65	372.52	283.18
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	634	683	805	827	3,393	3,357	3,695	4,026	3,787	4,117
Invested Capital Turnover	0.77	0.68	0.57	0.74	0.40	0.44	0.33	0.37	0.25	0.41
Increase / (Decrease) in Invested Capital	0.00	49	122	22	2,566	-36	338	331	-239	330
Enterprise Value (EV)	0.00	0.00	1,211	1,932	2,371	3,567	3,288	2,847	2,088	5,059
Market Capitalization	0.00	0.00	1,380	2,215	2,313	3,748	3,173	2,194	1,408	4,450
Book Value per Share	$0.00	$8.35	$8.13	$9.39	$15.19	$16.11	$17.33	$16.54	$15.35	$17.28
Tangible Book Value per Share	$0.00	$7.94	$7.71	$8.98	$14.96	$15.88	$17.09	$16.54	$15.35	$17.28
Total Capital	1,122	1,257	1,254	1,421	4,288	4,420	4,425	4,539	4,204	4,693
Total Debt	220	233	248	287	438	367	298	235	257	379
Total Long-Term Debt	220	233	248	287	367	295	227	234	246	51
Net Debt	-256	-341	-201	-283	-458	-696	-431	-278	-160	-197
Capital Expenditures (CapEx)	42	29	158	109	130	162	102	223	139	230
Debt-free, Cash-free Net Working Capital (DFCFNWC)	84	154	201	95	358	330	440	513	404	420
Debt-free Net Working Capital (DFNWC)	560	728	650	665	1,246	1,388	1,169	1,027	821	996
Net Working Capital (NWC)	560	728	650	665	1,174	1,316	1,097	1,026	810	669
Net Nonoperating Expense (NNE)	25	26	-0.08	-14	-9.20	34	-44	29	127	15
Net Nonoperating Obligations (NNO)	-268	-341	-201	-307	-458	-696	-431	-278	-160	-197
Total Depreciation and Amortization (D&A)	76	102	100	87	110	229	181	214	130	116
Debt-free, Cash-free Net Working Capital to Revenue	17.08%	34.38%	47.81%	15.72%	41.98%	22.38%	38.29%	35.99%	40.56%	25.80%
Debt-free Net Working Capital to Revenue	114.04%	162.25%	154.48%	109.66%	146.00%	94.15%	101.82%	71.96%	82.48%	61.12%
Net Working Capital to Revenue	114.04%	162.25%	154.48%	109.66%	137.68%	89.30%	95.57%	71.90%	81.37%	41.04%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.58	$0.00	$0.47	$0.88	$1.70	$0.00	($0.48)	($1.29)	$1.95
Adjusted Weighted Average Basic Shares Outstanding	0.00	119.84M	120.74M	0.00	219.61M	212.38M	0.00	202.46M	202.39M	202.75M
Adjusted Diluted Earnings per Share	$0.00	$0.57	$0.05	$0.47	$0.87	$1.63	$0.00	($0.48)	($1.29)	$1.85
Adjusted Weighted Average Diluted Shares Outstanding	0.00	119.84M	120.74M	0.00	219.61M	212.38M	0.00	202.46M	202.39M	217.03M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	119.84M	120.74M	0.00	219.61M	212.38M	0.00	202.46M	202.39M	203.33M
Normalized Net Operating Profit after Tax (NOPAT)	94	74	21	88	148	325	167	197	-145	378
Normalized NOPAT Margin	19.17%	16.43%	4.97%	14.45%	17.34%	22.06%	14.50%	13.79%	-14.60%	23.19%
Pre Tax Income Margin	16.49%	16.62%	1.92%	22.52%	23.65%	28.13%	20.98%	-14.18%	-32.01%	27.19%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.05	2.96	0.89	9.64	15.54	22.72	13.60	-11.18	-23.47	31.40
NOPAT to Interest Expense	3.48	2.78	0.00	5.54	10.66	24.06	8.71	-5.49	-17.32	25.93
EBIT Less CapEx to Interest Expense	2.42	2.13	-3.81	2.72	6.14	14.22	8.24	-24.63	-34.11	15.61
NOPAT Less CapEx to Interest Expense	1.85	1.96	-4.70	-1.37	1.26	15.56	3.35	-18.93	-27.96	10.13
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	23.17%	44.35%	-47.97%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	57.94%	91.89%	-94.81%	-2.79%	0.00%

This table displays calculated financial ratios and metrics derived from Silver Standard Resources' official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	203,326,282.00	207,491,071.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	203,326,282.00	207,491,071.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-0.52	0.47
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	39.01%	-26.82%	-38.60%	-33.22%	-24.12%	37.52%	119.35%	49.92%	61.43%	83.75%	9.46%
EBITDA Growth	-256.95%	-499.27%	-55.42%	-66.73%	129.87%	129.17%	231.36%	156.53%	202.97%	147.37%	14.04%
EBIT Growth	-371.76%	-1,113.70%	-62.46%	-84.67%	112.39%	117.98%	533.30%	650.82%	409.35%	189.77%	13.35%
NOPAT Growth	-747.72%	-880.93%	-98.78%	188.81%	98.67%	121.75%	4,195.25%	732.31%	6,118.03%	168.90%	3.02%
Net Income Growth	-377.76%	-1,334.87%	-97.99%	186.28%	98.81%	115.20%	3,161.44%	813.33%	5,539.14%	-311.50%	15.02%
EPS Growth	-341.86%	-1,114.29%	-85.71%	-28.57%	102.88%	119.72%	740.00%	520.00%	2,700.00%	0.00%	0.00%
Operating Cash Flow Growth	72.03%	730.17%	-197.25%	-101.00%	-53.25%	244.30%	302.02%	4,340.06%	81.15%	221.23%	-36.34%
Free Cash Flow Firm Growth	-76.27%	63.74%	177.67%	161.18%	143.78%	-27.97%	-107.15%	-115.08%	-169.18%	1,477.60%	63,378.38%
Invested Capital Growth	8.96%	-3.00%	-14.54%	-11.90%	-5.93%	6.78%	3.52%	3.79%	8.73%	-49.63%	-66.99%
Revenue Q/Q Growth	10.51%	-45.94%	-19.72%	39.23%	25.58%	-2.03%	28.06%	-4.84%	35.22%	11.51%	-23.72%
EBITDA Q/Q Growth	-318.59%	-25.97%	111.81%	2.42%	96.25%	22.91%	34.12%	-20.71%	131.77%	41.66%	-36.53%
EBIT Q/Q Growth	-605.14%	-12.31%	104.43%	-39.08%	308.37%	62.98%	56.19%	-27.77%	177.04%	48.28%	-40.33%
NOPAT Q/Q Growth	-2,230.78%	-26.48%	100.77%	291.92%	-134.98%	2,163.59%	51.81%	-24.06%	152.95%	45.06%	-41.55%
Net Income Q/Q Growth	-3,548.86%	-35.48%	100.69%	153.69%	-150.15%	1,836.71%	47.60%	-28.96%	198.67%	-167.53%	180.27%
EPS Q/Q Growth	-1,585.71%	-36.54%	103.52%	0.00%	-40.00%	833.33%	50.00%	-26.19%	170.97%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	50.20%	-87.88%	-417.21%	98.27%	7,145.92%	-10.71%	86.12%	-63.79%	201.02%	53.73%	-62.08%
Free Cash Flow Firm Q/Q Growth	37.28%	71.87%	530.94%	-18.54%	-55.12%	-181.24%	75.91%	-71.73%	-105.86%	1,440.76%	26.32%
Invested Capital Q/Q Growth	-7.55%	-8.58%	3.00%	1.36%	-1.28%	3.61%	-0.14%	1.62%	3.41%	-52.00%	-34.55%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	48.45%	45.32%	47.75%	46.27%	52.58%	56.84%	59.81%	57.06%	63.96%	66.46%	60.87%
EBITDA Margin	-62.53%	-145.58%	21.41%	15.75%	24.61%	30.88%	32.34%	26.95%	46.19%	58.68%	48.83%
Operating Margin	-69.88%	-163.50%	5.80%	3.51%	10.64%	21.13%	26.86%	21.60%	38.78%	51.63%	43.19%
EBIT Margin	-78.10%	-162.26%	8.96%	3.92%	12.75%	21.21%	25.87%	19.64%	40.23%	53.50%	41.85%
Profit (Net Income) Margin	-62.07%	-155.56%	1.33%	2.43%	-0.97%	17.20%	19.82%	14.80%	32.68%	-19.79%	20.83%
Tax Burden Percent	78.88%	94.70%	17.04%	87.44%	-8.28%	85.35%	79.83%	79.10%	82.57%	-37.15%	49.88%
Interest Burden Percent	100.76%	101.25%	87.29%	70.85%	91.93%	94.98%	95.97%	95.27%	98.38%	99.59%	99.79%
Effective Tax Rate	0.00%	0.00%	81.11%	12.16%	108.08%	14.32%	20.10%	20.71%	17.40%	19.29%	26.07%
Return on Invested Capital (ROIC)	-18.08%	-41.18%	0.33%	0.83%	-0.22%	5.16%	7.26%	6.27%	13.21%	26.77%	23.69%
ROIC Less NNEP Spread (ROIC-NNEP)	-2.30%	-10.35%	0.07%	1.79%	-0.06%	6.82%	11.35%	12.79%	11.31%	55.01%	28.04%
Return on Net Nonoperating Assets (RNNOA)	0.19%	0.79%	0.00%	-0.07%	0.00%	-0.30%	-0.46%	-0.44%	-0.49%	-16.52%	-8.50%
Return on Equity (ROE)	-17.89%	-40.39%	0.32%	0.75%	-0.22%	4.86%	6.80%	5.83%	12.72%	10.25%	15.19%
Cash Return on Invested Capital (CROIC)	-10.94%	-7.15%	5.69%	1.47%	0.34%	-4.99%	0.30%	1.46%	1.20%	83.98%	121.23%
Operating Return on Assets (OROA)	-20.95%	-41.55%	2.01%	0.79%	2.40%	4.21%	6.14%	5.09%	11.62%	17.49%	16.06%
Return on Assets (ROA)	-16.65%	-39.83%	0.30%	0.49%	-0.18%	3.42%	4.71%	3.83%	9.44%	-6.47%	7.99%
Return on Common Equity (ROCE)	-14.75%	-33.36%	0.25%	0.59%	-0.17%	3.82%	5.38%	4.63%	10.19%	8.26%	13.51%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-16.48%	-20.31%	-19.80%	0.00%	1.89%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-208	-263	2.03	7.94	-2.78	57	87	66	167	242	142
NOPAT Margin	-48.92%	-114.45%	1.10%	3.08%	-0.86%	18.10%	21.46%	17.12%	32.03%	41.67%	31.93%
Net Nonoperating Expense Percent (NNEP)	-15.78%	-30.83%	0.26%	-0.96%	-0.16%	-1.66%	-4.10%	-6.52%	1.90%	-28.24%	-4.35%
Return On Investment Capital (ROIC_SIMPLE)	-4.59%	-	-	-	-0.07%	1.34%	2.00%	1.49%	3.56%	5.39%	4.18%
Cost of Revenue to Revenue	51.55%	54.68%	52.25%	53.73%	47.42%	43.16%	40.19%	42.94%	36.04%	33.54%	39.13%
SG&A Expenses to Revenue	3.54%	5.59%	7.28%	7.39%	5.43%	7.55%	6.57%	10.43%	3.27%	6.61%	6.23%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	118.33%	208.81%	41.95%	42.76%	41.94%	35.72%	32.96%	35.46%	25.18%	14.83%	17.68%
Earnings before Interest and Taxes (EBIT)	-333	-374	17	10	41	67	105	76	210	311	186
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-266	-335	40	41	80	98	131	104	241	341	217
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.65	0.30	0.30	0.37	0.45	0.64	0.79	1.49	1.27	1.65	1.73
Price to Tangible Book Value (P/TBV)	0.65	0.30	0.30	0.37	0.45	0.64	0.79	1.49	1.27	1.65	1.73
Price to Revenue (P/Rev)	1.54	0.68	0.74	1.05	1.41	1.88	1.98	3.46	2.73	3.15	3.04
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	24.00	15.66	22.52	11.24	25.93	24.68
Dividend Yield	2.60%	6.28%	6.21%	4.93%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	4.17%	6.39%	4.44%	8.89%	3.86%	4.05%
Enterprise Value to Invested Capital (EV/IC)	0.71	0.41	0.42	0.49	0.55	0.71	0.83	1.41	1.23	3.12	3.12
Enterprise Value to Revenue (EV/Rev)	1.99	1.12	1.31	1.72	2.10	2.57	2.49	3.92	3.10	3.25	2.09
Enterprise Value to EBITDA (EV/EBITDA)	100.87	0.00	0.00	0.00	0.00	10.82	9.29	13.59	8.82	7.93	5.02
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	20.63	14.51	19.40	11.05	9.32	5.90
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	46.81	22.40	27.71	13.39	11.64	7.55
Enterprise Value to Operating Cash Flow (EV/OCF)	6.75	3.39	5.64	12.70	52.04	27.77	9.64	14.20	10.72	9.43	6.76
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	6.88	31.31	157.27	0.00	281.38	98.48	106.66	2.49	1.28
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.05	0.06	0.06	0.06	0.07	0.07	0.07	0.07	0.09	0.01	0.00
Long-Term Debt to Equity	0.05	0.06	0.06	0.06	0.06	0.06	0.01	0.01	0.01	0.01	0.00
Financial Leverage	-0.08	-0.08	-0.04	-0.04	-0.05	-0.04	-0.04	-0.03	-0.04	-0.30	-0.30
Leverage Ratio	1.26	1.30	1.28	1.28	1.28	1.37	1.37	1.37	1.37	1.37	1.35
Compound Leverage Factor	1.27	1.31	1.11	0.90	1.18	1.30	1.31	1.30	1.34	1.37	1.34
Debt to Total Capital	5.18%	5.49%	5.47%	6.03%	6.12%	6.12%	6.22%	6.38%	8.07%	1.47%	0.00%
Short-Term Debt to Total Capital	0.02%	0.02%	0.00%	0.26%	0.26%	0.26%	5.51%	5.43%	6.97%	0.00%	0.00%
Long-Term Debt to Total Capital	5.16%	5.47%	5.47%	5.76%	5.86%	5.87%	0.70%	0.95%	1.10%	1.47%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	20.51%	20.64%	20.46%	20.19%	19.98%	19.59%	18.96%	18.46%	17.19%	17.75%	0.00%
Common Equity to Total Capital	74.31%	73.88%	74.08%	73.78%	73.90%	74.29%	74.83%	75.16%	74.75%	80.78%	100.00%
Debt to EBITDA	8.33	-0.59	-0.52	-0.49	-1.47	1.01	0.78	0.68	0.66	0.09	0.00
Net Debt to EBITDA	-9.87	0.68	0.36	0.22	0.91	-0.31	-0.48	-0.40	-0.34	-0.78	0.00
Long-Term Debt to EBITDA	8.29	-0.58	-0.52	-0.46	-1.40	0.97	0.09	0.10	0.09	0.09	0.00
Debt to NOPAT	-2.58	-0.60	-0.56	-0.55	-1.14	4.39	1.87	1.40	1.00	0.12	0.00
Net Debt to NOPAT	3.05	0.69	0.38	0.25	0.71	-1.35	-1.16	-0.81	-0.52	-1.15	0.00
Long-Term Debt to NOPAT	-2.57	-0.60	-0.56	-0.53	-1.09	4.21	0.21	0.21	0.14	0.12	0.00
Altman Z-Score	1.60	0.63	0.89	1.00	1.12	1.18	1.39	2.19	2.13	3.55	5.29
Noncontrolling Interest Sharing Ratio	17.53%	17.40%	21.64%	21.38%	21.46%	21.35%	20.91%	20.58%	19.93%	19.37%	11.04%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	7.01	3.07	3.54	3.91	4.70	3.95	2.39	2.41	2.08	5.33	9.79
Quick Ratio	3.84	1.69	1.72	1.89	2.48	1.77	1.16	1.13	1.15	1.18	7.65
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-539	-150	646	526	236	-192	-46	-79	-163	2,190	2,766
Operating Cash Flow to CapEx	345.57%	72.37%	-204.66%	-4.12%	246.23%	186.36%	265.48%	95.97%	261.93%	297.76%	308.29%
Free Cash Flow to Firm to Interest Expense	-214.28	-32.20	306.84	178.83	70.99	-56.93	-10.93	-22.14	-48.11	1,724.17	7,038.47
Operating Cash Flow to Interest Expense	80.71	5.29	-37.12	-0.46	28.56	25.17	37.34	15.95	50.68	208.26	255.22
Operating Cash Flow Less CapEx to Interest Expense	57.36	-2.02	-55.25	-11.59	16.96	11.66	23.28	-0.67	31.33	138.32	172.44
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.27	0.26	0.22	0.20	0.19	0.20	0.24	0.26	0.29	0.33	0.38
Accounts Receivable Turnover	10.98	10.11	10.39	8.81	7.47	9.78	11.43	12.11	12.48	14.80	18.17
Inventory Turnover	1.58	1.48	1.23	1.13	1.05	1.04	1.10	1.14	1.33	1.33	1.34
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	13.86	13.19	16.38	14.48	15.20	14.50	19.34	18.21	18.30	18.15	20.62
Days Sales Outstanding (DSO)	33.23	36.09	35.13	41.43	48.87	37.32	31.93	30.15	29.25	24.67	20.09
Days Inventory Outstanding (DIO)	230.75	245.82	297.14	323.06	347.66	351.05	332.33	318.88	273.87	273.65	272.61
Days Payable Outstanding (DPO)	26.33	27.67	22.28	25.21	24.01	25.17	18.88	20.05	19.94	20.11	17.70
Cash Conversion Cycle (CCC)	237.65	254.25	309.99	339.28	372.52	363.20	345.38	328.99	283.18	278.21	275.01
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,026	3,674	3,785	3,836	3,787	3,924	3,918	3,982	4,117	1,976	1,293
Invested Capital Turnover	0.37	0.36	0.30	0.27	0.25	0.28	0.34	0.37	0.41	0.64	0.74
Increase / (Decrease) in Invested Capital	331	-114	-644	-518	-239	249	133	145	330	-1,947	-2,624
Enterprise Value (EV)	2,847	1,505	1,608	1,884	2,088	2,785	3,241	5,606	5,059	6,167	4,034
Market Capitalization	2,194	909	911	1,148	1,408	2,030	2,583	4,952	4,450	5,978	5,868
Book Value per Share	$16.54	$15.23	$15.28	$15.34	$15.35	$15.65	$16.08	$16.41	$17.28	$17.86	$16.35
Tangible Book Value per Share	$16.54	$15.23	$15.28	$15.34	$15.35	$15.65	$16.08	$16.41	$17.28	$17.86	$16.35
Total Capital	4,539	4,168	4,169	4,202	4,204	4,265	4,356	4,427	4,693	4,495	3,392
Total Debt	235	229	228	253	257	261	271	282	379	66	0.00
Total Long-Term Debt	234	228	228	242	246	250	31	42	51	66	0.00
Net Debt	-278	-264	-156	-113	-160	-80	-168	-163	-197	-608	-1,834
Capital Expenditures (CapEx)	59	34	38	33	39	46	59	60	66	89	33
Debt-free, Cash-free Net Working Capital (DFCFNWC)	513	238	349	387	404	435	468	500	420	2,306	383
Debt-free Net Working Capital (DFNWC)	1,027	730	733	753	821	776	907	945	996	2,980	2,217
Net Working Capital (NWC)	1,026	729	733	742	810	765	667	705	669	2,980	2,217
Net Nonoperating Expense (NNE)	56	95	-0.44	1.69	0.36	2.86	6.64	8.98	-3.38	358	49
Net Nonoperating Obligations (NNO)	-278	-264	-156	-113	-160	-80	-168	-163	-197	-2,452	-2,098
Total Depreciation and Amortization (D&A)	66	38	23	30	38	31	26	28	31	30	31
Debt-free, Cash-free Net Working Capital to Revenue	35.99%	17.72%	28.45%	35.22%	40.56%	40.19%	35.94%	34.94%	25.80%	121.69%	19.82%
Debt-free Net Working Capital to Revenue	71.96%	54.38%	59.80%	68.52%	82.48%	71.74%	69.60%	66.06%	61.12%	157.28%	114.69%
Net Working Capital to Revenue	71.90%	54.31%	59.80%	67.52%	81.37%	70.72%	51.17%	49.27%	41.04%	157.28%	114.69%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.06)	($1.42)	$0.05	$0.05	$0.03	$0.29	$0.44	$0.32	$0.90	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	202.46M	202.09M	202.10M	202.37M	202.39M	202.42M	202.77M	202.78M	202.75M	205.62M	208.01M
Adjusted Diluted Earnings per Share	($1.04)	($1.42)	$0.05	$0.05	$0.03	$0.28	$0.42	$0.31	$0.84	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	202.46M	202.09M	202.10M	202.37M	202.39M	216.55M	216.99M	217.46M	217.03M	217.65M	209.17M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	202.46M	202.09M	202.10M	202.37M	202.39M	202.78M	202.78M	203.00M	203.33M	207.49M	203.91M
Normalized Net Operating Profit after Tax (NOPAT)	78	-184	7.50	8.26	24	57	87	66	167	242	142
Normalized NOPAT Margin	18.27%	-79.72%	4.06%	3.21%	7.45%	18.10%	21.46%	17.12%	32.03%	41.67%	31.93%
Pre Tax Income Margin	-78.69%	-164.28%	7.82%	2.78%	11.72%	20.15%	24.83%	18.71%	39.58%	53.28%	41.76%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-132.15	-80.25	7.87	3.43	12.39	19.94	24.82	21.14	61.83	245.06	472.58
NOPAT to Interest Expense	-82.77	-56.61	0.96	2.70	-0.84	17.01	20.58	18.44	49.23	190.90	360.57
EBIT Less CapEx to Interest Expense	-155.50	-87.56	-10.27	-7.70	0.79	6.43	10.75	4.52	42.48	175.12	389.80
NOPAT Less CapEx to Interest Expense	-106.13	-63.92	-17.17	-8.43	-12.43	3.50	6.52	1.82	29.88	120.96	277.78
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-47.97%	-8.52%	-4.60%	-2.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-94.81%	-20.53%	-7.93%	-5.76%	-2.79%	0.00%	0.00%	0.00%	0.00%	0.00%	164.86%

Financials Breakdown Chart

Key Financial Trends

SSR Mining’s latest results show a substantially stronger financial position, although quarterly operating performance remains volatile. In Q2 2026, revenue was $443.8 million, down from $581.8 million in Q1 but up approximately 9.5% from $405.5 million in Q2 2025. Gross profit was $270.1 million, representing a strong 60.9% gross margin, while operating income reached $191.7 million.

Continuing operations generated net income of $137.0 million in Q2 2026, compared with $250.2 million in Q1 and $132.0 million in Q2 2025. Consolidated net income was $92.4 million because discontinued operations produced a $44.6 million loss. This compares favorably with the $115.2 million consolidated loss recorded in Q1, but the recurring discontinued-operation losses continue to obscure the performance of the core mining business.

Cash generation remained positive. Net cash from continuing operating activities was $120.8 million in Q2 2026, although it declined from $299.6 million in Q1. Capital expenditures fell to $32.5 million from $88.8 million in Q1, implying approximate continuing-operations free cash flow of $88.3 million for the quarter. The company also reported a very large $1.46 billion inflow from continuing investing activities, which drove a $1.16 billion increase in cash. Because this investing figure is much larger than the individual investing items provided, investors should review the underlying filing for the specific transaction or reclassification behind the inflow.

The balance sheet improved sharply during the quarter. Cash and equivalents rose to $1.78 billion from $634.1 million at March 31, 2026, while total liabilities fell to $887.7 million from $1.52 billion. SSR Mining reported no short-term debt in Q2, and shareholders’ equity remained substantial at $3.39 billion. However, the balance-sheet changes appear to reflect significant portfolio, discontinued-operations or classification activity, so they may not represent purely organic operating improvement.

Improved core profitability: Q2 2026 continuing-operations net income was $137.0 million, and operating income was $191.7 million, well above the levels reported during 2024.
Strong gross margins: Q2 gross profit of $270.1 million equaled a 60.9% gross margin, indicating favorable operating leverage despite the sequential revenue decline.
Positive free cash flow: Continuing operating cash flow of $120.8 million exceeded $32.5 million of capital expenditures by an estimated $88.3 million.
Much stronger liquidity: Cash and equivalents increased to $1.78 billion, compared with $412.1 million in Q2 2025 and $334.3 million in Q3 2024.
Lower reported leverage: Total liabilities declined to $887.7 million from $1.52 billion in Q1 2026, while the company reported no short-term debt at quarter-end.
Revenue trend is uneven: Revenue has generally improved from $184.8 million in Q2 2024 and $230.2 million in Q1 2024, but Q2 2026 revenue declined 23.7% sequentially from Q1.
Large investing inflow needs clarification: The $1.46 billion continuing-investing inflow was the primary source of the quarter’s cash increase and appears disproportionate to the listed investment transactions.
Discontinued operations remain a drag: Discontinued operations generated losses of $44.6 million in Q2 2026 and $365.3 million in Q1, reducing the benefit of continuing-operations earnings.
Operating cash flow weakened sequentially: Continuing operating cash flow fell from $299.6 million in Q1 2026 to $120.8 million in Q2, partly reflecting a $62.9 million use of operating working capital.
Reported earnings remain volatile: Quarterly consolidated results have ranged from a $358.2 million loss in Q1 2024 to a $170.5 million profit in Q4 2025 and a $92.4 million profit in Q2 2026, making trend-based valuation more difficult.

Overall, the latest statements point to a company with stronger liquidity, lower reported liabilities and profitable continuing operations. The primary risks are the volatility in quarterly production and revenue, continued discontinued-operation losses, working-capital swings and the need to understand the unusually large Q2 investing cash inflow before treating the cash build as fully recurring.

09/02/26 05:38 PM ETAI Generated. May Contain Errors.

Silver Standard Resources Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Silver Standard Resources' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Over the last 9 years, Silver Standard Resources' net income changed from $64.96 million in 2016 to $362.42 million in 2025, a change of 457.9%. Find out what analysts predict for Silver Standard Resources in the coming months.

Silver Standard Resources' total operating income in 2025 was $461.44 million, based on the following breakdown:

Total Gross Profit: $976.33 million
Total Operating Expenses: $514.89 million

Over the last 9 years, Silver Standard Resources' total revenue changed from $490.99 million in 2016 to $1.63 billion in 2025, a change of 231.9%.

Silver Standard Resources' total liabilities were at $1.78 billion at the end of 2025, a 43.3% increase from 2024, and a 231.5% increase since 2016.

In the past 9 years, Silver Standard Resources' cash and equivalents has ranged from $327.13 million in 2016 to $1.02 billion in 2021, and is currently $515.56 million as of their latest financial filing in 2025.

Over the last 9 years, Silver Standard Resources' book value per share changed from 0.00 in 2016 to 17.28 in 2025, a change of 1,728.0%.

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Financial statements for NASDAQ:SSRM last updated on 8/4/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Silver Standard Resources (SSRM) Financials

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Silver Standard Resources (SSRM) Financials

Annual Income Statements for Silver Standard Resources

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Annual Cash Flow Statements for Silver Standard Resources

Quarterly Cash Flow Statements for Silver Standard Resources

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How has Silver Standard Resources' book value per share changed over the last 9 years?

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