Free Trial

McEwen (MUX) Financials

McEwen logo
$10.21 -0.53 (-4.93%)
Closing price 03:59 PM Eastern
Extended Trading
$10.20 -0.01 (-0.05%)
As of 06:45 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Annual Income Statements for McEwen

Annual Income Statements for McEwen

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

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders
-81 55 -44
Consolidated Net Income / (Loss)
-86 33 -44
Net Income / (Loss) Continuing Operations
-86 33 -44
Total Pre-Tax Income
-80 67 -47
Total Operating Income
-95 -162 -51
Total Gross Profit
-0.54 18 31
Total Revenue
110 166 174
Operating Revenue
110 166 174
Total Cost of Revenue
111 148 144
Operating Cost of Revenue
111 148 144
Total Operating Expenses
95 180 82
Selling, General & Admin Expense
12 15 17
Exploration Expense
15 20 17
Depreciation Expense
0.73 1.14 0.63
Other Operating Expenses / (Income)
67 143 47
Total Other Income / (Expense), net
15 229 3.83
Interest Expense
7.79 -37 4.60
Interest & Investment Income
0.00 222 0.00
Other Income / (Expense), net
23 -30 8.43
Income Tax Expense
5.81 34 -3.05
Net Income / (Loss) Attributable to Noncontrolling Interest
-5.02 -22 0.00
Basic Earnings per Share
($1.71) $1.16 ($0.86)
Weighted Average Basic Shares Outstanding
47.43M 47.54M 51.02M
Diluted Earnings per Share
($1.71) $1.16 ($0.86)
Weighted Average Diluted Shares Outstanding
47.43M 47.54M 51.02M
Weighted Average Basic & Diluted Shares Outstanding
47.43M 49.44M 53.93M

Quarterly Income Statements for McEwen

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

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders
-11 -37 -43 -22 -18 138 -20 -13 -2.08 -8.23
Consolidated Net Income / (Loss)
-11 -42 -36 -43 -28 141 -20 -13 -2.08 -8.23
Net Income / (Loss) Continuing Operations
-11 -42 -36 -43 -28 141 -20 -13 -2.08 -8.23
Total Pre-Tax Income
-11 -35 -37 -45 -29 178 -23 -15 -1.27 -7.16
Total Operating Income
-16 -39 -43 -43 -29 -47 -22 -14 -0.10 -15
Total Gross Profit
1.50 -0.29 4.44 -3.47 3.76 13 6.01 11 14 0.36
Total Revenue
26 28 35 34 38 59 41 47 52 34
Operating Revenue
26 28 35 34 38 59 41 47 52 34
Total Cost of Revenue
24 29 30 38 35 46 35 37 38 33
Operating Cost of Revenue
24 29 30 38 35 46 35 37 38 33
Total Operating Expenses
17 39 47 40 33 60 28 25 14 15
Selling, General & Admin Expense
4.35 3.10 3.44 2.05 3.72 6.24 4.07 4.46 2.14 6.49
Exploration Expense
3.93 3.54 5.90 5.85 4.67 3.74 3.87 4.98 5.33 2.36
Depreciation Expense
0.21 0.24 0.28 0.31 0.33 0.22 0.17 0.16 0.16 0.15
Other Operating Expenses / (Income)
8.59 32 38 31 24 50 20 15 6.28 5.91
Total Other Income / (Expense), net
4.51 4.24 5.89 -2.30 0.22 225 -0.96 -1.42 -1.17 7.39
Interest Expense
1.82 2.69 -8.46 -20 -10 1.45 0.87 1.73 1.08 0.91
Other Income / (Expense), net
6.33 6.94 -2.58 -22 -10 4.59 -0.09 0.31 -0.09 8.29
Income Tax Expense
-0.52 7.14 -0.54 -2.05 -0.24 37 -2.56 -2.38 0.81 1.07
Basic Earnings per Share
($0.22) ($0.79) ($0.91) ($0.46) ($0.39) $2.91 ($0.41) ($0.26) ($0.04) ($0.15)
Weighted Average Basic Shares Outstanding
47.43M 47.43M 47.43M 47.43M 47.47M 47.54M 49.44M 49.72M 51.95M 51.02M
Diluted Earnings per Share
($0.22) ($0.79) ($0.91) ($0.46) ($0.39) $2.91 ($0.41) ($0.26) ($0.04) ($0.15)
Weighted Average Diluted Shares Outstanding
47.43M 47.43M 47.43M 47.43M 47.47M 47.54M 49.44M 49.72M 51.95M 51.02M
Weighted Average Basic & Diluted Shares Outstanding
47.43M 47.43M 47.43M 47.47M 47.49M 49.44M 49.44M 51.09M 52.92M 53.93M

Annual Cash Flow Statements for McEwen

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

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents
-17 -16 -10
Net Cash From Operating Activities
-57 -40 29
Net Cash From Continuing Operating Activities
-57 -40 29
Net Income / (Loss) Continuing Operations
-86 33 -44
Consolidated Net Income / (Loss)
-86 33 -44
Depreciation Expense
20 30 31
Non-Cash Adjustments To Reconcile Net Income
5.42 -85 30
Changes in Operating Assets and Liabilities, net
4.57 -18 12
Net Cash From Investing Activities
-24 -100 -58
Net Cash From Continuing Investing Activities
-24 -100 -58
Purchase of Property, Plant & Equipment
-24 -26 -43
Acquisitions
0.00 -46 -14
Purchase of Investments
0.00 -34 -0.37
Divestitures
0.00 0.00 1.13
Sale and/or Maturity of Investments
0.00 6.03 0.00
Other Investing Activities, net
0.29 0.00 -1.72
Net Cash From Financing Activities
65 172 19
Net Cash From Continuing Financing Activities
65 172 19
Repayment of Debt
0.00 -25 0.00
Issuance of Debt
15 0.00 0.00
Issuance of Common Equity
14 13 20
Other Financing Activities, net
36 184 -1.22
Effect of Exchange Rate Changes
-2.03 -49 -0.66
Cash Interest Paid
4.88 4.73 3.91
Cash Income Taxes Paid
0.02 1.41 0.71

Quarterly Cash Flow Statements for McEwen

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

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents
11 -15 151 -106 -36 -26 -1.09 17 -11 -15
Net Cash From Operating Activities
-10 6.04 -19 -34 -2.28 16 3.88 3.61 23 -1.21
Net Cash From Continuing Operating Activities
-10 6.04 -19 -34 -2.28 16 3.88 3.61 23 -1.21
Net Income / (Loss) Continuing Operations
-11 -42 -36 -43 -28 141 -20 -13 -2.08 -8.23
Consolidated Net Income / (Loss)
-11 -42 -36 -43 -28 141 -20 -13 -2.08 -8.23
Depreciation Expense
4.67 7.37 7.26 8.52 8.51 6.07 7.44 7.65 8.92 6.85
Non-Cash Adjustments To Reconcile Net Income
-4.35 17 12 15 14 -126 15 11 3.91 0.40
Changes in Operating Assets and Liabilities, net
-0.07 23 -2.75 -14 3.98 -4.96 2.03 -1.97 12 -0.24
Net Cash From Investing Activities
-8.89 -7.05 -4.95 -31 -16 -47 -4.58 -6.55 -34 -13
Net Cash From Continuing Investing Activities
-8.89 -7.05 -4.95 -31 -16 -48 -4.58 -6.55 -34 -13
Purchase of Property, Plant & Equipment
-8.89 -7.05 -4.95 -4.01 -9.32 -7.82 -4.52 -6.68 -19 -13
Purchase of Investments
- - 0.00 -27 -7.05 -0.25 -0.05 0.05 -0.08 -0.29
Divestitures
- - - - - - - - - -0.00
Sale and/or Maturity of Investments
- -0.29 0.00 - - 6.03 0.00 0.08 - -0.08
Other Investing Activities, net
- - - - - - - - - 0.22
Net Cash From Financing Activities
26 0.00 185 -26 -0.56 13 -0.14 20 -0.50 -0.33
Net Cash From Continuing Financing Activities
26 0.00 185 -26 -0.56 13 -0.14 20 -0.50 -0.33
Other Financing Activities, net
26 0.00 185 -0.54 -0.56 -0.13 -0.14 -0.24 -0.50 -0.33
Effect of Exchange Rate Changes
- -14 -9.11 -16 -16 -7.79 -0.26 -0.45 0.42 -0.38
Cash Interest Paid
1.48 0.57 1.25 32 13 -41 0.97 1.60 1.09 0.25
Cash Income Taxes Paid
- 0.02 - - 0.99 -4.33 - - - 0.31

Annual Balance Sheets for McEwen

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

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets
529 657 665
Total Current Assets
82 53 41
Cash & Equivalents
40 23 14
Short-Term Investments
1.30 1.74 1.62
Note & Lease Receivable
0.00 0.00 0.00
Accounts Receivable
0.00 2.38 0.29
Inventories, net
32 20 18
Other Current Assets
- 5.58 7.49
Plant, Property, & Equipment, net
0.00 0.00 0.00
Total Noncurrent Assets
541 605 623
Long-Term Investments
187 326 299
Other Noncurrent Operating Assets
354 278 324
Total Liabilities & Shareholders' Equity
529 657 665
Total Liabilities
172 155 170
Total Current Liabilities
84 30 48
Accounts Payable
43 23 28
Current Deferred Revenue
6.16 0.00 3.54
Current Deferred & Payable Income Tax Liabilities
7.66 1.60 4.48
Other Current Liabilities
18 5.74 11
Total Noncurrent Liabilities
88 125 122
Long-Term Debt
54 40 40
Asset Retirement Reserve & Litigation Obligation
29 40 41
Noncurrent Deferred & Payable Income Tax Liabilities
0.16 41 37
Other Noncurrent Operating Liabilities
4.86 4.33 4.25
Total Equity & Noncontrolling Interests
356 502 495
Total Preferred & Common Equity
323 502 495
Total Common Equity
323 502 495
Common Stock
1,644 1,768 1,805
Retained Earnings
-1,321 -1,266 -1,310

Quarterly Balance Sheets for McEwen

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

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets
545 678 593 573 639 645 668
Total Current Assets
96 223 145 126 52 72 60
Cash & Equivalents
55 191 85 49 22 41 29
Short-Term Investments
1.43 1.59 29 41 1.57 1.95 1.00
Note & Lease Receivable
- - - - 0.00 0.00 0.00
Accounts Receivable
- - - - 2.75 3.15 0.00
Inventories, net
30 24 24 27 20 20 22
Other Current Assets
- - - 8.68 5.84 6.39 7.41
Plant, Property, & Equipment, net
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets
449 454 448 447 587 573 608
Long-Term Investments
93 90 89 86 308 291 303
Other Noncurrent Operating Assets
356 364 359 361 279 282 305
Total Liabilities & Shareholders' Equity
545 678 593 573 639 645 668
Total Liabilities
147 172 131 139 156 160 166
Total Current Liabilities
58 89 53 53 38 43 51
Short-Term Debt
4.00 16 0.00 0.00 3.00 6.00 9.00
Accounts Payable
31 46 35 39 25 25 29
Current Deferred & Payable Income Tax Liabilities
- 8.23 0.61 0.61 1.98 2.46 3.05
Other Current Liabilities
19 17 12 3.85 6.23 9.78 10
Total Noncurrent Liabilities
89 83 78 85 118 117 115
Long-Term Debt
60 48 40 40 37 34 31
Asset Retirement Reserve & Litigation Obligation
25 29 33 40 39 42 41
Noncurrent Deferred & Payable Income Tax Liabilities
- - - - 38 36 37
Other Noncurrent Operating Liabilities
3.72 5.48 5.14 5.44 4.37 5.01 5.82
Total Equity & Noncontrolling Interests
398 505 462 434 483 485 502
Total Preferred & Common Equity
360 390 368 350 483 485 502
Total Common Equity
360 390 368 350 483 485 502
Common Stock
1,644 1,754 1,754 1,754 1,769 1,785 1,804
Retained Earnings
-1,284 -1,364 -1,386 -1,404 -1,286 -1,299 -1,301

Annual Metrics And Ratios for McEwen

This table displays calculated financial ratios and metrics derived from McEwen's official financial filings.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Growth Metrics
- - -
Revenue Growth
-19.13% 50.55% 4.96%
EBITDA Growth
-62.17% -205.25% 93.02%
EBIT Growth
-25.00% -164.89% 78.05%
NOPAT Growth
-48.47% -20.06% 55.86%
Net Income Growth
-51.35% 138.54% -231.69%
EPS Growth
-36.80% 167.84% -174.14%
Operating Cash Flow Growth
-182.01% 29.95% 174.31%
Free Cash Flow Firm Growth
-26.96% 122.12% -561.24%
Invested Capital Growth
-1.20% -32.97% 15.25%
Revenue Q/Q Growth
-5.74% 22.42% -12.60%
EBITDA Q/Q Growth
-29.64% -7.90% 76.79%
EBIT Q/Q Growth
-15.15% -5.81% 46.44%
NOPAT Q/Q Growth
-21.16% 25.53% 44.49%
Net Income Q/Q Growth
-32.37% 122.10% -141.31%
EPS Q/Q Growth
-25.74% 145.67% -143.43%
Operating Cash Flow Q/Q Growth
11.05% 20.26% -37.03%
Free Cash Flow Firm Q/Q Growth
14.19% 115.13% -351.02%
Invested Capital Q/Q Growth
-8.72% -35.72% 5.91%
Profitability Metrics
- - -
Gross Margin
-0.49% 10.70% 17.73%
EBITDA Margin
-47.97% -97.26% -6.47%
Operating Margin
-86.43% -97.49% -28.98%
EBIT Margin
-65.66% -115.53% -24.15%
Profit (Net Income) Margin
-77.97% 19.96% -25.04%
Tax Burden Percent
107.23% 49.49% 93.48%
Interest Burden Percent
110.74% -34.91% 110.90%
Effective Tax Rate
0.00% 50.51% 0.00%
Return on Invested Capital (ROIC)
-23.24% -33.61% -17.18%
ROIC Less NNEP Spread (ROIC-NNEP)
-0.72% -93.06% -14.34%
Return on Net Nonoperating Assets (RNNOA)
0.16% 41.34% 8.41%
Return on Equity (ROE)
-23.07% 7.73% -8.76%
Cash Return on Invested Capital (CROIC)
-22.03% 5.87% -31.35%
Operating Return on Assets (OROA)
-13.76% -32.39% -6.38%
Return on Assets (ROA)
-16.34% 5.60% -6.61%
Return on Common Equity (ROCE)
-21.58% 7.43% -8.76%
Return on Equity Simple (ROE_SIMPLE)
-26.67% 6.60% -8.83%
Net Operating Profit after Tax (NOPAT)
-67 -80 -35
NOPAT Margin
-60.50% -48.25% -20.29%
Net Nonoperating Expense Percent (NNEP)
-22.52% 59.45% -2.83%
Return On Investment Capital (ROIC_SIMPLE)
-15.90% -14.79% -6.62%
Cost of Revenue to Revenue
100.49% 89.30% 82.27%
SG&A Expenses to Revenue
10.77% 9.29% 9.84%
R&D to Revenue
0.00% 0.00% 0.00%
Operating Expenses to Revenue
85.94% 108.19% 46.72%
Earnings before Interest and Taxes (EBIT)
-72 -192 -42
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
-53 -162 -11
Valuation Ratios
- - -
Price to Book Value (P/BV)
0.86 0.68 0.83
Price to Tangible Book Value (P/TBV)
0.86 0.68 0.83
Price to Revenue (P/Rev)
2.52 2.06 2.36
Price to Earnings (P/E)
0.00 6.19 0.00
Dividend Yield
0.00% 0.00% 0.00%
Earnings Yield
0.00% 16.15% 0.00%
Enterprise Value to Invested Capital (EV/IC)
0.52 0.16 0.62
Enterprise Value to Revenue (EV/Rev)
1.33 0.19 0.79
Enterprise Value to EBITDA (EV/EBITDA)
0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)
0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)
0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)
0.00 0.00 4.67
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 2.25 0.00
Leverage & Solvency
- - -
Debt to Equity
0.18 0.08 0.08
Long-Term Debt to Equity
0.15 0.08 0.08
Financial Leverage
-0.23 -0.44 -0.59
Leverage Ratio
1.41 1.38 1.33
Compound Leverage Factor
1.56 -0.48 1.47
Debt to Total Capital
15.22% 7.37% 7.48%
Short-Term Debt to Total Capital
2.38% 0.00% 0.00%
Long-Term Debt to Total Capital
12.84% 7.37% 7.48%
Preferred Equity to Total Capital
0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
7.96% 0.00% 0.00%
Common Equity to Total Capital
76.81% 92.63% 92.52%
Debt to EBITDA
-1.21 -0.25 -3.55
Net Debt to EBITDA
3.10 1.92 24.31
Long-Term Debt to EBITDA
-1.02 -0.25 -3.55
Debt to NOPAT
-0.96 -0.50 -1.13
Net Debt to NOPAT
2.45 3.88 7.75
Long-Term Debt to NOPAT
-0.81 -0.50 -1.13
Altman Z-Score
-2.78 -2.04 -1.26
Noncontrolling Interest Sharing Ratio
6.46% 3.90% 0.00%
Liquidity Ratios
- - -
Current Ratio
0.97 1.76 0.86
Quick Ratio
0.49 0.90 0.33
Cash Flow Metrics
- - -
Free Cash Flow to Firm (FCFF)
-63 14 -65
Operating Cash Flow to CapEx
-233.93% -151.87% 68.35%
Free Cash Flow to Firm to Interest Expense
-8.13 0.00 -14.06
Operating Cash Flow to Interest Expense
-7.26 0.00 6.41
Operating Cash Flow Less CapEx to Interest Expense
-10.37 0.00 -2.97
Efficiency Ratios
- - -
Asset Turnover
0.21 0.28 0.26
Accounts Receivable Turnover
0.00 0.00 131.09
Inventory Turnover
4.67 5.75 7.54
Fixed Asset Turnover
0.00 0.00 0.00
Accounts Payable Turnover
2.70 4.56 5.62
Days Sales Outstanding (DSO)
0.00 0.00 2.78
Days Inventory Outstanding (DIO)
78.17 63.53 48.38
Days Payable Outstanding (DPO)
135.09 80.13 64.97
Cash Conversion Cycle (CCC)
-56.92 -16.59 -13.81
Capital & Investment Metrics
- - -
Invested Capital
286 192 221
Invested Capital Turnover
0.38 0.70 0.85
Increase / (Decrease) in Invested Capital
-3.48 -94 29
Enterprise Value (EV)
147 32 137
Market Capitalization
278 342 412
Book Value per Share
$6.81 $10.58 $9.35
Tangible Book Value per Share
$6.81 $10.58 $9.35
Total Capital
420 542 535
Total Debt
64 40 40
Total Long-Term Debt
54 40 40
Net Debt
-164 -311 -274
Capital Expenditures (CapEx)
24 26 43
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-34 -2.11 -22
Debt-free Net Working Capital (DFNWC)
7.47 23 -6.50
Net Working Capital (NWC)
-2.53 23 -6.50
Net Nonoperating Expense (NNE)
19 -113 8.29
Net Nonoperating Obligations (NNO)
-71 -311 -274
Total Depreciation and Amortization (D&A)
20 30 31
Debt-free, Cash-free Net Working Capital to Revenue
-30.44% -1.27% -12.50%
Debt-free Net Working Capital to Revenue
6.76% 13.63% -3.73%
Net Working Capital to Revenue
-2.29% 13.63% -3.73%
Earnings Adjustments
- - -
Adjusted Basic Earnings per Share
($1.71) $1.16 ($0.86)
Adjusted Weighted Average Basic Shares Outstanding
47.43M 47.54M 51.02M
Adjusted Diluted Earnings per Share
($1.71) $1.16 ($0.86)
Adjusted Weighted Average Diluted Shares Outstanding
47.43M 47.54M 51.02M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
47.43M 49.44M 53.93M
Normalized Net Operating Profit after Tax (NOPAT)
-67 -113 -35
Normalized NOPAT Margin
-60.50% -68.24% -20.29%
Pre Tax Income Margin
-72.71% 40.33% -26.79%
Debt Service Ratios
- - -
EBIT to Interest Expense
-9.31 0.00 -9.17
NOPAT to Interest Expense
-8.58 0.00 -7.70
EBIT Less CapEx to Interest Expense
-12.41 0.00 -18.55
NOPAT Less CapEx to Interest Expense
-11.68 0.00 -17.08
Payout Ratios
- - -
Dividend Payout Ratio
0.00% 0.00% 0.00%
Augmented Payout Ratio
0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for McEwen

This table displays calculated financial ratios and metrics derived from McEwen's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics
- - - - - - - - - -
Revenue Growth
-30.01% -19.24% 36.06% 12.23% 47.78% 107.79% 18.63% 38.03% 36.05% -42.87%
EBITDA Growth
57.54% -94.84% -129.36% -719.21% -565.40% -47.60% 61.64% 89.38% 128.70% 101.63%
EBIT Growth
42.80% -42.02% -124.38% -502.65% -321.11% -32.72% 51.40% 78.98% 99.53% 85.39%
NOPAT Growth
10.65% -74.03% -77.66% -159.59% -85.14% -37.12% 48.68% 67.57% 99.66% 72.93%
Net Income Growth
39.42% -100.12% -72.85% -248.71% -169.14% 435.59% 44.02% 69.96% 92.67% -105.83%
EPS Growth
42.11% -71.74% -102.22% -76.92% -77.27% 468.35% 54.95% 43.48% 89.74% -105.15%
Operating Cash Flow Growth
6.51% 712.16% -24.81% 7.47% 77.84% 166.63% 119.91% 110.61% 1,116.62% -107.52%
Free Cash Flow Firm Growth
-531.27% -16.01% -266.36% 9.99% 82.81% 336.36% 345.02% 542.59% 1,859.57% -169.59%
Invested Capital Growth
6.34% -1.20% 1.06% -2.57% -4.83% -32.97% -33.53% -36.09% -30.04% 15.25%
Revenue Q/Q Growth
-15.20% 8.67% 23.06% -1.03% 11.66% 52.80% -29.74% 15.15% 10.06% -35.84%
EBITDA Q/Q Growth
33.51% -443.80% -53.33% -47.77% 46.00% -20.63% 60.15% 59.10% 246.00% -93.13%
EBIT Q/Q Growth
14.10% -248.63% -40.83% -42.89% 39.98% -9.87% 48.43% 38.21% 98.66% -3,317.49%
NOPAT Q/Q Growth
5.99% -151.54% -9.31% -0.42% 32.95% -86.30% 59.09% 36.55% 99.30% -14,895.88%
Net Income Q/Q Growth
15.03% -299.18% 13.48% -18.82% 34.41% 597.73% -114.43% 36.25% 83.99% -295.58%
EPS Q/Q Growth
15.38% -259.09% -15.19% 49.45% 15.22% 846.15% -114.09% 36.59% 84.62% -275.00%
Operating Cash Flow Q/Q Growth
71.98% 158.73% -422.66% -74.26% 93.29% 806.58% -75.91% -7.09% 542.79% -105.23%
Free Cash Flow Firm Q/Q Growth
-19.85% 18.98% -37.77% 32.71% 77.11% 1,213.63% 42.82% 21.54% -8.98% -144.04%
Invested Capital Q/Q Growth
1.90% -8.72% 0.46% 4.26% -0.46% -35.72% -0.36% 0.23% 8.97% 5.91%
Profitability Metrics
- - - - - - - - - -
Gross Margin
5.78% -1.02% 12.78% -10.08% 9.78% 22.24% 14.58% 22.66% 26.42% 1.08%
EBITDA Margin
-17.60% -88.10% -109.77% -163.89% -79.27% -62.58% -35.50% -12.61% 16.72% 1.79%
Operating Margin
-59.94% -138.75% -123.25% -125.05% -75.10% -80.74% -53.32% -29.38% -0.19% -43.39%
EBIT Margin
-35.59% -114.18% -130.67% -188.65% -101.42% -72.93% -53.53% -28.72% -0.35% -18.66%
Profit (Net Income) Margin
-40.56% -149.02% -104.77% -125.78% -73.88% 240.66% -49.44% -27.37% -3.98% -24.56%
Tax Burden Percent
95.26% 120.45% 98.55% 95.48% 99.15% 79.38% 88.85% 84.54% 164.25% 114.96%
Interest Burden Percent
119.65% 108.35% 81.36% 69.83% 73.47% -415.73% 103.94% 112.72% 692.35% 114.50%
Effective Tax Rate
0.00% 0.00% 0.00% 0.00% 0.00% 20.62% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)
-16.18% -37.31% -36.14% -35.62% -23.37% -44.65% -26.98% -15.58% -0.10% -25.71%
ROIC Less NNEP Spread (ROIC-NNEP)
-16.54% -20.19% -32.04% -24.54% -15.97% -138.41% -25.02% -14.16% 0.83% -26.38%
Return on Net Nonoperating Assets (RNNOA)
4.13% 4.64% 11.36% 6.91% 4.25% 61.49% 12.92% 6.83% -0.38% 15.48%
Return on Equity (ROE)
-12.06% -32.67% -24.79% -28.71% -19.12% 16.84% -14.06% -8.75% -0.49% -10.24%
Cash Return on Invested Capital (CROIC)
-24.30% -22.03% -29.04% -29.85% -30.31% 5.87% 4.39% 11.30% 10.17% -31.35%
Operating Return on Assets (OROA)
-7.69% -23.92% -25.76% -41.79% -24.64% -20.44% -14.05% -8.62% -0.11% -4.92%
Return on Assets (ROA)
-8.76% -31.22% -20.66% -27.86% -17.95% 67.47% -12.97% -8.21% -1.28% -6.48%
Return on Common Equity (ROCE)
-11.27% -30.56% -21.18% -24.76% -16.31% 16.18% -12.42% -7.88% -0.44% -10.24%
Return on Equity Simple (ROE_SIMPLE)
-18.06% 0.00% -26.03% -35.94% -42.90% 0.00% 10.20% 16.38% 21.06% 0.00%
Net Operating Profit after Tax (NOPAT)
-11 -27 -30 -30 -20 -38 -15 -9.76 -0.07 -10
NOPAT Margin
-41.96% -97.12% -86.27% -87.54% -52.57% -64.09% -37.32% -20.56% -0.13% -30.37%
Net Nonoperating Expense Percent (NNEP)
0.36% -17.11% -4.10% -11.07% -7.40% 93.76% -1.96% -1.42% -0.94% 0.67%
Return On Investment Capital (ROIC_SIMPLE)
-2.36% -6.53% -5.27% -6.00% -4.26% -6.93% -2.94% -1.86% -0.01% -1.90%
Cost of Revenue to Revenue
94.22% 101.02% 87.22% 110.08% 90.22% 77.76% 85.42% 77.34% 73.58% 98.92%
SG&A Expenses to Revenue
16.75% 10.98% 9.90% 5.96% 9.69% 10.63% 9.88% 9.40% 4.09% 19.37%
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
65.72% 137.73% 136.03% 114.97% 84.87% 102.98% 67.90% 52.04% 26.60% 44.47%
Earnings before Interest and Taxes (EBIT)
-9.25 -32 -45 -65 -39 -43 -22 -14 -0.18 -6.25
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
-4.58 -25 -38 -56 -30 -37 -15 -5.99 8.74 0.60
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
0.43 0.86 1.03 0.93 0.88 0.68 1.01 0.00 0.95 0.83
Price to Tangible Book Value (P/TBV)
0.43 0.86 1.03 0.93 0.88 0.68 1.01 0.00 0.95 0.83
Price to Revenue (P/Rev)
1.32 2.52 3.36 2.76 2.27 2.06 2.82 0.00 2.38 2.36
Price to Earnings (P/E)
0.00 0.00 0.00 0.00 0.00 6.19 6.25 0.00 4.61 0.00
Dividend Yield
0.00% 0.00% 0.00% 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% 16.15% 16.00% 0.00% 21.68% 0.00%
Enterprise Value to Invested Capital (EV/IC)
0.34 0.52 1.04 0.91 0.86 0.16 1.03 0.00 0.87 0.62
Enterprise Value to Revenue (EV/Rev)
0.92 1.33 2.50 2.21 1.89 0.19 1.13 0.00 0.91 0.79
Enterprise Value to EBITDA (EV/EBITDA)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.88 4.67
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 0.00 0.00 2.25 18.65 0.00 7.05 0.00
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
0.16 0.18 0.13 0.09 0.09 0.08 0.08 0.08 0.08 0.08
Long-Term Debt to Equity
0.15 0.15 0.10 0.09 0.09 0.08 0.08 0.07 0.06 0.08
Financial Leverage
-0.25 -0.23 -0.35 -0.28 -0.27 -0.44 -0.52 -0.48 -0.46 -0.59
Leverage Ratio
1.34 1.41 1.37 1.32 1.34 1.38 1.33 1.31 1.33 1.33
Compound Leverage Factor
1.60 1.53 1.12 0.92 0.99 -5.74 1.39 1.47 9.18 1.52
Debt to Total Capital
13.81% 15.22% 11.26% 7.97% 8.44% 7.37% 7.66% 7.62% 7.38% 7.48%
Short-Term Debt to Total Capital
0.87% 2.38% 2.81% 0.00% 0.00% 0.00% 0.57% 1.14% 1.66% 0.00%
Long-Term Debt to Total Capital
12.95% 12.84% 8.45% 7.97% 8.44% 7.37% 7.08% 6.47% 5.72% 7.48%
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
8.26% 7.96% 20.30% 18.72% 17.73% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
77.93% 76.81% 68.44% 73.32% 73.83% 92.63% 92.34% 92.38% 92.62% 92.52%
Debt to EBITDA
-1.56 -1.21 -0.86 -0.32 -0.27 -0.25 -0.29 -0.46 -0.82 -3.55
Net Debt to EBITDA
2.09 3.10 2.93 1.31 0.91 1.92 2.11 3.35 6.04 24.31
Long-Term Debt to EBITDA
-1.46 -1.02 -0.65 -0.32 -0.27 -0.25 -0.27 -0.39 -0.64 -3.55
Debt to NOPAT
-1.16 -0.96 -0.80 -0.41 -0.37 -0.50 -0.47 -0.50 -0.63 -1.13
Net Debt to NOPAT
1.55 2.45 2.73 1.65 1.26 3.88 3.40 3.66 4.61 7.75
Long-Term Debt to NOPAT
-1.09 -0.81 -0.60 -0.41 -0.37 -0.50 -0.43 -0.42 -0.49 -1.13
Altman Z-Score
-2.42 -2.53 -1.23 -1.68 -1.93 -1.29 -0.76 0.00 -0.69 -1.08
Noncontrolling Interest Sharing Ratio
6.56% 6.46% 14.54% 13.75% 14.69% 3.90% 11.70% 9.92% 8.98% 0.00%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
1.65 0.97 2.50 2.74 2.35 1.76 1.37 1.68 1.17 0.86
Quick Ratio
0.97 0.49 2.15 2.16 1.68 0.90 0.69 1.06 0.59 0.33
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-30 -24 -33 -22 -5.08 57 81 98 89 -39
Operating Cash Flow to CapEx
-115.74% 85.74% -393.84% -847.60% -24.47% 205.96% 85.82% 53.95% 121.10% -9.51%
Free Cash Flow to Firm to Interest Expense
-16.27 -8.89 0.00 0.00 0.00 38.93 92.93 56.67 82.51 -43.43
Operating Cash Flow to Interest Expense
-5.66 2.24 0.00 0.00 0.00 11.08 4.46 2.08 21.38 -1.34
Operating Cash Flow Less CapEx to Interest Expense
-10.55 -0.37 0.00 0.00 0.00 5.70 -0.74 -1.78 3.73 -15.39
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
0.22 0.21 0.20 0.22 0.24 0.28 0.26 0.30 0.32 0.26
Accounts Receivable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 131.09
Inventory Turnover
3.34 4.67 5.51 5.66 4.58 5.75 7.06 6.91 6.36 7.54
Fixed Asset Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover
2.67 2.70 2.48 3.98 3.79 4.56 4.33 5.08 4.61 5.62
Days Sales Outstanding (DSO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.78
Days Inventory Outstanding (DIO)
109.41 78.17 66.28 64.47 79.64 63.53 51.68 52.81 57.43 48.38
Days Payable Outstanding (DPO)
136.85 135.09 147.34 91.75 96.32 80.13 84.36 71.80 79.13 64.97
Cash Conversion Cycle (CCC)
-27.44 -56.92 -81.06 -27.28 -16.68 -16.59 -32.67 -18.99 -21.70 -13.81
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
313 286 287 299 298 192 191 191 208 221
Invested Capital Turnover
0.39 0.38 0.42 0.41 0.44 0.70 0.72 0.76 0.79 0.85
Increase / (Decrease) in Invested Capital
19 -3.48 3.01 -7.91 -15 -94 -96 -108 -90 29
Enterprise Value (EV)
107 147 299 272 257 32 196 0.00 181 137
Market Capitalization
155 278 402 341 309 342 487 0.00 475 412
Book Value per Share
$7.59 $6.81 $8.22 $7.76 $7.37 $10.58 $9.76 $9.76 $9.83 $9.35
Tangible Book Value per Share
$7.59 $6.81 $8.22 $7.76 $7.37 $10.58 $9.76 $9.76 $9.83 $9.35
Total Capital
462 420 569 502 474 542 523 525 542 535
Total Debt
64 64 64 40 40 40 40 40 40 40
Total Long-Term Debt
60 54 48 40 40 40 37 34 31 40
Net Debt
-85 -164 -218 -163 -136 -311 -292 -294 -294 -274
Capital Expenditures (CapEx)
8.89 7.05 4.95 4.01 9.32 7.82 4.52 6.68 19 13
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-14 -34 -42 -22 -18 -2.11 -6.45 -7.49 -13 -22
Debt-free Net Working Capital (DFNWC)
42 7.47 150 92 72 23 17 35 18 -6.50
Net Working Capital (NWC)
38 -2.53 134 92 72 23 14 29 8.64 -6.50
Net Nonoperating Expense (NNE)
-0.36 15 6.43 13 8.19 -179 5.00 3.23 2.01 -1.95
Net Nonoperating Obligations (NNO)
-85 -71 -218 -163 -136 -311 -292 -294 -294 -274
Total Depreciation and Amortization (D&A)
4.67 7.37 7.26 8.52 8.51 6.07 7.44 7.65 8.92 6.85
Debt-free, Cash-free Net Working Capital to Revenue
-12.21% -30.44% -35.35% -17.82% -12.98% -1.27% -3.73% -4.03% -6.31% -12.50%
Debt-free Net Working Capital to Revenue
35.86% 6.76% 125.46% 74.59% 53.26% 13.63% 9.91% 18.91% 8.83% -3.73%
Net Working Capital to Revenue
32.45% -2.29% 112.08% 74.59% 53.26% 13.63% 8.17% 15.68% 4.33% -3.73%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
($0.21) ($0.79) ($0.91) ($0.46) ($0.39) $2.91 ($0.41) ($0.26) ($0.04) ($0.15)
Adjusted Weighted Average Basic Shares Outstanding
50.78M 47.43M 47.43M 47.43M 47.47M 47.54M 49.44M 49.72M 51.95M 51.02M
Adjusted Diluted Earnings per Share
($0.21) ($0.79) ($0.91) ($0.46) ($0.39) $2.91 ($0.41) ($0.26) ($0.04) ($0.15)
Adjusted Weighted Average Diluted Shares Outstanding
50.78M 47.43M 47.43M 47.43M 47.47M 47.54M 49.44M 49.72M 51.95M 51.02M
Adjusted Basic & Diluted Earnings per Share
$0.00 ($0.79) $0.00 $0.00 $0.00 $2.91 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
47.43M 47.43M 47.43M 47.47M 47.49M 49.44M 49.44M 51.09M 52.92M 53.93M
Normalized Net Operating Profit after Tax (NOPAT)
-11 -27 -30 -30 -20 -38 -15 -9.76 -0.07 -10
Normalized NOPAT Margin
-41.96% -97.12% -86.27% -87.54% -52.57% -64.09% -37.32% -20.56% -0.13% -30.37%
Pre Tax Income Margin
-42.58% -123.72% -106.31% -131.73% -74.52% 303.19% -55.64% -32.38% -2.42% -21.36%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
-5.09 -11.97 0.00 0.00 0.00 -29.43 -25.37 -7.86 -0.17 -6.90
NOPAT to Interest Expense
-6.00 -10.18 0.00 0.00 0.00 -25.87 -17.69 -5.63 -0.06 -11.23
EBIT Less CapEx to Interest Expense
-9.98 -14.59 0.00 0.00 0.00 -34.81 -30.57 -11.72 -17.83 -20.95
NOPAT Less CapEx to Interest Expense
-10.89 -12.80 0.00 0.00 0.00 -31.25 -22.88 -9.48 -17.72 -25.28
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Key Financial Trends

McEwen Mining Inc. (NYSE:MUX) has experienced significant volatility in its financial performance over the past four years, as reflected in quarterly income statements, cash flow statements, and balance sheets.

Positive Highlights:

  • In Q4 2023, McEwen delivered a strong quarter with a net income of $138.5 million attributable to common shareholders and positive diluted earnings per share of $2.91, reflecting a significant turnaround compared to prior quarters.
  • The company reported strong operating cash flow in several quarters, notably $23.2 million in Q3 2024 and $38.8 million in Q1 2024, indicating healthy cash generation from operations during those periods.
  • Total assets increased from $545 million in Q3 2022 to approximately $668 million in Q3 2024, showcasing asset growth driven by long-term investments and other noncurrent operating assets.
  • McEwen maintained substantial liquidity, with cash and equivalents around $29 million as of Q3 2024 and even higher in prior periods, supporting operational and investing activities.
  • The company has been actively investing in property, plant, and equipment, especially in Q3 2024 ($19.1 million) and Q4 2023 ($7.8 million), which could support future production growth and revenue expansion.

Neutral Observations:

  • Operating revenues have fluctuated across quarters, with highs such as $58.7 million in Q4 2023 and lows like $28.2 million in Q4 2022, suggesting variability in production volumes or commodity prices impacting sales.
  • Long-term debt levels have remained relatively steady around $30 million to $48 million over recent quarters, reflecting consistent debt management without dramatic increases or repayments.
  • The weighted average shares outstanding have gradually increased from about 47 million shares in 2022 to over 51 million in recent quarters, likely due to equity financing or share issuances, which mildly dilutes earnings per share.
  • Interest expense fluctuated but remained a notable line item, ranging roughly from $870,000 to over $1.7 million, impacting net income but manageable relative to revenues.

Negative Concerns:

  • McEwen reported net losses in many quarters throughout 2023 and 2024, including a sizeable consolidated net loss of $8.2 million in Q4 2024 and losses exceeding $20 million in several other recent quarters, leading to negative earnings per share (e.g., -$0.15 in Q4 2024 and -$0.41 in Q1 2024).
  • Operating expenses, especially "Other Operating Expenses," have been exceptionally high, reaching $50.2 million in Q4 2023 and similar levels previously, significantly weighing on operating income and profitability.
  • Capital expenditures and investing activities resulted in sizable cash outflows quarter-over-quarter, such as $45 million in acquisitions during Q4 2023 and over $19 million spent on property and equipment in Q3 2024, exerting pressure on cash flows.
  • The company experienced substantial negative cash flow from investing activities frequently, e.g., -$47 million in Q4 2023 and -$34 million in Q3 2024, potentially increasing future risk if investments do not translate into increased revenues.
  • Despite asset growth, retained earnings remain deeply negative (e.g., -$1.3 billion in Q3 2024), indicating an accumulated deficit that could limit financial flexibility.

In summary, McEwen Mining Inc. has shown periods of strong operational cash flow and asset growth, supported by ongoing investments in its operations. However, consistent net losses, high operating expenses, and negative retained earnings highlight ongoing challenges in achieving sustained profitability. Investors should monitor how the company manages its expenses, investment returns, and earnings over the coming quarters to assess potential for recovery and growth.

08/08/25 07:44 PMAI Generated. May Contain Errors.

Frequently Asked Questions About McEwen's Financials

When does McEwen's financial year end?

According to the most recent income statement we have on file, McEwen's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has McEwen's net income changed over the last 2 years?

McEwen's net income appears to be on a downward trend, with a most recent value of -$43.69 million in 2024, falling from -$86.09 million in 2022. The previous period was $33.18 million in 2023. See where experts think McEwen is headed by visiting McEwen's forecast page.

What is McEwen's operating income?
McEwen's total operating income in 2024 was -$50.57 million, based on the following breakdown:
  • Total Gross Profit: $30.94 million
  • Total Operating Expenses: $81.51 million
How has McEwen's revenue changed over the last 2 years?

Over the last 2 years, McEwen's total revenue changed from $110.42 million in 2022 to $174.48 million in 2024, a change of 58.0%.

How much debt does McEwen have?

McEwen's total liabilities were at $169.65 million at the end of 2024, a 9.6% increase from 2023, and a 1.6% decrease since 2022.

How much cash does McEwen have?

In the past 2 years, McEwen's cash and equivalents has ranged from $13.69 million in 2024 to $39.78 million in 2022, and is currently $13.69 million as of their latest financial filing in 2024.

How has McEwen's book value per share changed over the last 2 years?

Over the last 2 years, McEwen's book value per share changed from 6.81 in 2022 to 9.35 in 2024, a change of 37.4%.



This page (NYSE:MUX) was last updated on 8/8/2025 by MarketBeat.com Staff
From Our Partners