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McEwen (MUX) Financials

McEwen logo
$18.34 -0.51 (-2.71%)
Closing price 03:59 PM Eastern
Extended Trading
$18.37 +0.03 (+0.16%)
As of 07:31 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 Massive. Learn more.
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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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 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		 -20 21 -11 -45 -60 -152 -57 -81 55 -44 34
Consolidated Net Income / (Loss)		 -20 21 -11 -45 -60 -152 -57 -86 33 -44 34
Net Income / (Loss) Continuing Operations		 -20 21 -11 -45 -60 -152 -57 -86 33 -44 34
Total Pre-Tax Income 		-45 17 -26 -48 -64 -154 -64 -80 67 -47 6.95
Total Operating Income		 -49 15 -26 -47 -64 -153 -64 -95 -162 -51 2.65
Total Gross Profit		 38 32 20 32 8.99 -27 -6.48 -0.54 18 31 48
Total Revenue		 73 60 67 128 117 105 137 110 166 174 198
Operating Revenue		 73 60 67 128 117 105 137 110 166 174 198
Total Cost of Revenue		 35 40 47 96 108 132 143 111 148 144 150
Operating Cost of Revenue		 35 40 47 96 108 132 143 111 148 144 150
Total Operating Expenses		 88 5.08 46 79 73 126 58 95 180 82 45
Selling, General & Admin Expense		 12 13 12 11 13 11 11 12 15 17 27
Exploration Expense		 8.80 - 19 37 38 16 23 15 20 17 22
Depreciation Expense		 0.94 1.17 1.45 1.18 0.57 0.41 0.34 0.73 1.14 0.63 0.62
Other Operating Expenses / (Income)		 2.35 -8.82 13 30 22 15 23 67 143 47 -4.60
Total Other Income / (Expense), net		 4.32 1.96 0.28 -0.45 0.32 -0.54 0.08 15 229 3.83 4.30
Interest Expense		 -2.40 -0.84 0.94 1.62 6.82 7.43 6.20 7.79 -37 4.60 7.22
Interest & Investment Income		 - 0.52 - - - - 0.00 0.00 222 0.00 0.00
Other Income / (Expense), net		 1.92 0.61 1.22 1.17 7.14 6.89 6.28 23 -30 8.43 12
Income Tax Expense		 -25 -3.75 -15 -2.77 -3.84 -1.39 -7.32 5.81 34 -3.05 -27
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - - - 0.00 0.00 -0.17 -5.02 -22 0.00 0.00
Basic Earnings per Share		 ($0.07) $0.07 ($0.03) ($0.13) ($0.17) ($3.78) ($1.25) ($1.71) $1.16 ($0.86) $0.64
Weighted Average Basic Shares Outstanding		 300.34M 298.77M 313.89M 337.30M 361.85M 40.35M 45.49M 47.43M 47.54M 51.02M 54.05M
Diluted Earnings per Share		 ($0.07) $0.07 ($0.03) ($0.13) ($0.17) ($3.78) ($1.25) ($1.71) $1.16 ($0.86) $0.59
Weighted Average Diluted Shares Outstanding		 300.34M 300.47M 313.89M 337.30M 361.85M 40.35M 45.49M 47.43M 47.54M 51.02M 65.56M
Weighted Average Basic & Diluted Shares Outstanding		 292.10M 300.80M 313.89M 337.30M 361.85M 403.46M 473.69M 47.43M 49.44M 53.93M 59.45M

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 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		 138 -20 -13 -2.08 -8.23 -6.27 3.04 -0.46 38 33 9.61
Consolidated Net Income / (Loss)		 141 -20 -13 -2.08 -8.23 -6.27 3.04 -0.46 38 33 9.61
Net Income / (Loss) Continuing Operations		 141 -20 -13 -2.08 -8.23 -6.27 3.04 -0.46 38 33 9.61
Total Pre-Tax Income 		178 -23 -15 -1.27 -7.16 -7.35 1.93 -1.73 14 33 5.79
Total Operating Income		 -47 -22 -14 -0.10 -15 -7.64 -3.38 -8.43 22 41 7.71
Total Gross Profit		 13 6.01 11 14 0.36 10 12 7.82 17 31 20
Total Revenue		 59 41 47 52 34 36 47 51 65 74 59
Operating Revenue		 59 41 47 52 34 36 47 51 65 74 59
Total Cost of Revenue		 46 35 37 38 33 26 34 43 47 43 39
Operating Cost of Revenue		 46 35 37 38 33 26 34 43 47 43 39
Total Operating Expenses		 60 28 25 14 15 18 16 16 -4.70 -9.75 12
Selling, General & Admin Expense		 6.24 4.07 4.46 2.14 6.49 3.37 5.05 6.07 12 9.46 7.93
Exploration Expense		 3.74 3.87 4.98 5.33 2.36 3.68 5.39 6.78 6.35 5.46 11
Depreciation Expense		 0.22 0.17 0.16 0.16 0.15 0.15 0.17 0.16 0.15 0.17 0.18
Other Operating Expenses / (Income)		 50 20 15 6.28 5.91 11 5.05 3.24 -23 -25 -7.13
Total Other Income / (Expense), net		 225 -0.96 -1.42 -1.17 7.39 0.29 5.30 6.70 -8.00 -8.04 -1.92
Other Income / (Expense), net		 4.59 -0.09 0.31 -0.09 8.29 1.58 5.30 8.33 -5.44 -6.50 -1.92
Income Tax Expense		 37 -2.56 -2.38 0.81 1.07 -1.08 -1.11 -1.27 -24 -0.17 -3.82
Basic Earnings per Share		 $2.91 ($0.41) ($0.26) ($0.04) ($0.15) ($0.12) $0.06 ($0.01) $0.71 $0.56 $0.16
Weighted Average Basic Shares Outstanding		 47.54M 49.44M 49.72M 51.95M 51.02M 53.27M 53.97M 54.17M 54.05M 58.86M 60.00M
Diluted Earnings per Share		 $2.91 ($0.41) ($0.26) ($0.04) ($0.15) ($0.12) $0.06 ($0.01) $0.66 $0.47 $0.14
Weighted Average Diluted Shares Outstanding		 47.54M 49.44M 49.72M 51.95M 51.02M 53.27M 54.02M 54.17M 65.56M 72.43M 74.61M
Weighted Average Basic & Diluted Shares Outstanding		 49.44M 49.44M 51.09M 52.92M 53.93M 53.99M 54.11M 54.48M 59.45M 59.74M 61.36M

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 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		 13 12 -0.29 -6.66 16 -22 36 -17 -16 -10 38
Net Cash From Operating Activities		 16 7.45 -28 0.49 -40 -28 -20 -57 -40 29 6.87
Net Cash From Continuing Operating Activities		 40 -2.31 -28 0.49 -40 -28 -20 -57 -40 29 6.87
Net Income / (Loss) Continuing Operations		 -20 21 -11 -45 -60 -152 -57 -86 33 -44 34
Consolidated Net Income / (Loss)		 -20 21 -11 -45 -60 -152 -57 -86 33 -44 34
Depreciation Expense		 -0.94 1.17 6.58 16 26 23 25 20 30 31 28
Amortization Expense		 -1.29 - - - - - - - -4.05 -2.30 -4.95
Non-Cash Adjustments To Reconcile Net Income		 41 -15 -11 14 4.89 87 2.59 5.42 -85 30 -44
Changes in Operating Assets and Liabilities, net		 -2.29 -9.74 -13 15 -10 14 8.89 4.57 -14 15 -6.74
Net Cash From Investing Activities		 -1.88 7.62 -22 -69 -14 -12 -25 -24 -100 -58 -48
Net Cash From Continuing Investing Activities		 -1.88 7.62 -22 -69 -14 -12 -25 -24 -100 -58 -48
Purchase of Property, Plant & Equipment		 -0.78 -7.16 -8.57 -81 -30 -13 -35 -24 -26 -43 -45
Acquisitions		 - - -28 - - - 0.00 0.00 -46 -14 0.00
Purchase of Investments		 -1.11 -4.42 - -1.38 - - 0.00 0.00 -34 -0.37 -2.15
Divestitures		 - - - - - - - 0.00 0.00 1.13 0.00
Sale and/or Maturity of Investments		 - 18 14 13 16 1.61 9.83 0.00 6.03 0.00 3.82
Other Investing Activities, net		 - - - - - - - 0.29 0.30 -1.72 -5.06
Net Cash From Financing Activities		 0.12 -3.23 50 60 70 18 81 65 172 19 79
Net Cash From Continuing Financing Activities		 0.12 -3.23 50 60 70 18 81 65 172 19 79
Repayment of Debt		 -1.78 -3.40 - -0.91 - 0.00 0.00 0.00 -25 0.00 -24
Issuance of Debt		 5.17 - - 50 0.00 - 40 15 0.00 0.00 110
Issuance of Common Equity		 - - 43 0.00 71 20 12 14 13 20 4.87
Other Financing Activities, net		 - 3.73 9.56 15 -1.31 -2.07 29 36 184 -1.22 -12
Effect of Exchange Rate Changes		 -0.35 -0.27 -0.11 1.75 - - - -2.03 -49 -0.66 0.24
Cash Interest Paid		 - -0.01 - 1.92 - - - 4.88 4.73 3.91 5.07
Cash Income Taxes Paid		 - - - - - - - 0.02 1.41 0.71 1.98

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 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		 -26 -1.09 17 -11 -15 55 -15 -2.30 0.01 5.65 23
Net Cash From Operating Activities		 16 3.88 3.61 23 -1.21 -1.93 0.48 5.22 3.10 12 46
Net Cash From Continuing Operating Activities		 16 3.88 3.61 23 -1.21 -1.93 0.48 5.22 3.10 12 46
Net Income / (Loss) Continuing Operations		 141 -20 -13 -2.08 -8.23 -6.27 3.04 -0.46 38 33 9.61
Consolidated Net Income / (Loss)		 141 -20 -13 -2.08 -8.23 -6.27 3.04 -0.46 38 33 9.61
Depreciation Expense		 6.07 7.44 7.65 8.92 6.85 6.17 6.85 7.64 7.18 7.08 8.19
Amortization Expense		 - - - - - -1.43 - - - -0.81 -1.02
Non-Cash Adjustments To Reconcile Net Income		 -126 15 11 3.91 0.40 5.95 -0.93 -7.70 -40 -13 39
Changes in Operating Assets and Liabilities, net		 -4.96 1.99 -1.97 12 -0.24 -6.36 -8.49 5.74 2.37 -14 -9.62
Net Cash From Investing Activities		 -47 -4.58 -6.55 -34 -13 -14 -15 -11 -8.25 -21 -25
Net Cash From Continuing Investing Activities		 -48 -4.58 -6.55 -34 -13 -14 -15 -11 -8.25 -21 -25
Purchase of Property, Plant & Equipment		 -7.82 -4.52 -6.68 -19 -13 -15 -9.65 -11 -9.63 -15 -25
Sale of Property, Plant & Equipment		 - - - - - 0.09 - - - 1.01 0.68
Net Cash From Financing Activities		 13 -0.14 20 -0.50 -0.33 71 -0.26 3.45 5.03 15 -0.03
Net Cash From Continuing Financing Activities		 13 -0.14 20 -0.50 -0.33 71 -0.26 3.45 5.03 15 -0.03
Issuance of Common Equity		 13 - - - - 0.00 - - 4.87 15 0.23
Other Financing Activities, net		 -0.13 -0.14 -0.24 -0.50 -0.33 -15 -0.32 3.45 0.16 -0.30 -0.26
Effect of Exchange Rate Changes		 -7.79 -0.26 -0.45 0.42 -0.38 0.00 0.11 -0.01 0.13 0.05 1.03
Cash Interest Paid		 -41 0.97 1.60 1.09 0.25 0.76 0.02 3.55 0.38 3.37 0.49
Cash Income Taxes Paid		 -4.33 0.00 - - 0.31 0.21 1.73 - 0.04 0.00 1.75

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 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		 475 498 592 617 631 500 525 529 657 665 820
Total Current Assets		 54 79 87 59 92 53 85 82 53 41 108
Cash & Equivalents		 26 37 27 16 46 21 54 40 23 14 51
Short-Term Investments		 1.03 8.54 7.97 3.13 1.89 0.00 1.81 1.30 1.74 1.62 21
Note & Lease Receivable		 - - - - - - - 0.00 0.00 0.00 0.00
Accounts Receivable		 - - - - - - - 0.00 2.38 0.29 3.17
Inventories, net		 15 27 32 22 38 27 16 32 20 18 27
Prepaid Expenses		 - - - - - - 11 8.84 - - 5.75
Plant, Property, & Equipment, net		 16 14 51 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 405 405 454 558 539 446 440 541 605 623 712
Long-Term Investments		 167 162 150 128 110 108 91 187 326 401 429
Noncurrent Note & Lease Receivables		 - - - - - - - - - 0.00 6.05
Noncurrent Deferred & Refundable Income Taxes		 - - - - - - - - - 0.00 26
Other Noncurrent Operating Assets		 238 243 304 430 429 338 349 354 278 223 252
Total Liabilities & Shareholders' Equity		 475 498 592 617 631 500 525 529 657 665 820
Total Liabilities		 57 55 71 131 132 135 135 172 155 170 274
Total Current Liabilities		 22 21 38 36 49 46 52 84 30 48 64
Short-Term Debt		 3.40 - 0.47 - 5.00 - 0.00 10 - - 0.00
Accounts Payable		 18 20 35 31 39 36 40 43 23 28 45
Current Deferred & Payable Income Tax Liabilities		 - - - - - - 0.00 7.66 1.60 4.48 2.98
Other Current Liabilities		 0.22 0.54 2.29 5.20 4.73 9.50 13 18 5.74 15 16
Total Noncurrent Liabilities		 35 35 33 95 83 89 83 88 125 122 210
Long-Term Debt		 - - - 25 20 48 49 54 40 40 126
Asset Retirement Reserve & Litigation Obligation		 7.57 9.31 24 29 30 31 30 29 40 41 39
Noncurrent Deferred & Payable Income Tax Liabilities		 27 24 8.43 6.43 4.91 3.81 - 0.16 41 37 40
Other Noncurrent Operating Liabilities		 0.29 1.73 0.63 11 8.93 6.31 4.44 4.86 4.33 4.25 4.29
Total Equity & Noncontrolling Interests		 418 443 521 486 499 365 390 356 502 495 546
Total Preferred & Common Equity		 418 443 521 486 499 365 375 323 502 495 546
Total Common Equity		 418 443 521 486 499 365 375 323 502 495 546
Common Stock		 1,359 1,360 1,448 1,457 1,531 1,549 1,615 1,644 1,768 1,805 1,822
Retained Earnings		 -940 -919 -930 -971 -1,031 -1,184 -1,240 -1,321 -1,266 -1,310 -1,275
Accumulated Other Comprehensive Income / (Loss)		 -0.83 1.67 3.00 - - - - - - - 0.00
Other Equity Adjustments		 - - - - - - - - - - 0.00

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 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		 678 593 573 639 645 668 731 736 748 973 992
Total Current Assets		 223 145 126 52 72 60 106 108 119 110 130
Cash & Equivalents		 191 85 49 22 41 29 69 54 51 57 79
Short-Term Investments		 1.59 29 41 1.57 1.95 1.00 11 16 24 14 13
Note & Lease Receivable		 - - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Receivable		 - - - 2.75 3.15 0.00 1.04 7.24 8.14 1.93 3.00
Inventories, net		 24 24 27 20 20 22 21 24 30 31 27
Prepaid Expenses		 7.54 6.86 - - - - - - - - 7.85
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		 454 448 447 587 573 608 624 628 628 863 862
Long-Term Investments		 90 89 86 308 291 303 290 283 279 450 412
Noncurrent Note & Lease Receivables		 - - - - - - - - - 12 12
Noncurrent Deferred & Refundable Income Taxes		 - - - - - - - - - 21 23
Other Noncurrent Operating Assets		 364 359 361 279 282 305 334 345 349 379 416
Total Liabilities & Shareholders' Equity		 678 593 573 639 645 668 731 736 748 973 992
Total Liabilities		 172 131 139 156 160 166 251 251 259 321 285
Total Current Liabilities		 89 53 53 38 43 51 45 46 57 97 64
Short-Term Debt		 16 0.00 0.00 3.00 6.00 9.00 - - - 34 6.00
Accounts Payable		 46 35 39 25 25 29 27 34 36 48 41
Current Deferred & Payable Income Tax Liabilities		 8.23 0.61 0.61 1.98 2.46 3.05 6.15 2.24 3.06 3.48 0.45
Other Current Liabilities		 17 12 3.85 6.23 9.78 10 11 9.71 17 11 16
Total Noncurrent Liabilities		 83 78 85 118 117 115 206 205 202 224 222
Long-Term Debt		 48 40 40 37 34 31 126 126 126 123 121
Asset Retirement Reserve & Litigation Obligation		 29 33 40 39 42 41 41 41 39 39 39
Noncurrent Deferred & Payable Income Tax Liabilities		 - - - 38 36 37 35 34 34 59 59
Other Noncurrent Operating Liabilities		 5.48 5.14 5.44 4.37 5.01 5.82 3.88 4.10 3.63 3.29 3.09
Total Equity & Noncontrolling Interests		 505 462 434 483 485 502 480 484 489 652 707
Total Preferred & Common Equity		 390 368 350 483 485 502 480 484 489 652 707
Total Common Equity		 390 368 350 483 485 502 480 484 489 652 707
Common Stock		 1,754 1,754 1,754 1,769 1,785 1,804 1,796 1,797 1,802 1,894 1,907
Retained Earnings		 -1,364 -1,386 -1,404 -1,286 -1,299 -1,301 -1,316 -1,313 -1,313 -1,242 -1,232
Accumulated Other Comprehensive Income / (Loss)		 - - - - - - - - - 0.02 0.02
Other Equity Adjustments		 - - - - - - - - - - 32

Annual Metrics And Ratios for McEwen

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 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
DEI Shares Outstanding		 274,654,010.00 299,527,826.00 332,976,861.00 337,286,381.00 362,488,425.00 408,841,891.00 459,187,391.00 - - - 54,480,457.00
DEI Adjusted Shares Outstanding		 2,746,540.00 2,995,278.00 3,329,769.00 3,372,864.00 3,624,884.00 4,088,419.00 4,591,874.00 - - - 54,480,457.00
DEI Earnings Per Adjusted Shares Outstanding		 -7.45 7.03 -3.45 -13.30 -16.48 -37.26 -12.35 - - - 0.63
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 61.04% -17.23% 11.72% 89.99% -8.70% -10.45% 30.30% -19.13% 50.55% 4.96% 13.23%
EBITDA Growth		 88.10% 134.49% -207.99% -60.07% -5.52% -294.45% 73.49% -62.17% -205.25% 93.02% 372.82%
EBIT Growth		 88.69% 133.64% -257.13% -83.61% -23.37% -157.65% 60.35% -25.00% -164.89% 78.05% 133.61%
NOPAT Growth		 87.97% 154.07% -198.55% -79.52% -35.44% -139.66% 58.03% -48.47% -20.06% 55.86% 137.14%
Net Income Growth		 93.44% 202.96% -150.51% -321.95% -33.16% -154.95% 62.66% -51.35% 138.54% -231.69% 178.81%
EPS Growth		 93.33% 200.00% -142.86% -333.33% -30.77% -154.95% 62.66% -36.80% 167.84% -174.14% 168.60%
Operating Cash Flow Growth		 204.64% -52.25% -471.19% 101.76% -8,216.43% 29.48% 28.02% -182.01% 29.95% 174.31% -76.69%
Free Cash Flow Firm Growth		 65.81% 201.20% -1,050.08% 27.32% 29.58% 89.25% -722.32% -26.96% 122.12% -561.24% -206.39%
Invested Capital Growth		 -9.20% 3.10% 39.15% 14.43% 3.13% -26.24% 1.72% -1.20% -32.97% 15.25% 44.39%
Revenue Q/Q Growth		 -3.02% -0.41% -63.46% 3,272.65% -20.52% -11.76% 63.34% -5.74% 22.42% -12.60% 18.68%
EBITDA Q/Q Growth		 82.75% 316.86% 4.76% -70.35% 0.96% 0.85% 6.62% -29.64% -7.90% 76.79% 97.40%
EBIT Q/Q Growth		 83.65% 636.74% -19.93% -31.11% -5.45% 1.07% -1.33% -15.15% -5.81% 46.44% 261.99%
NOPAT Q/Q Growth		 82.88% 506.49% -21.60% -23.61% -10.18% 1.14% 0.16% -21.16% 25.53% 44.49% 155.25%
Net Income Q/Q Growth		 90.63% 99.42% 38.51% -106.65% -7.45% -18.12% 32.57% -32.37% 122.10% -141.31% 388.78%
EPS Q/Q Growth		 0.00% 133.33% 50.00% -225.00% -41.67% -18.12% 32.57% -25.74% 145.67% -143.43% 368.18%
Operating Cash Flow Q/Q Growth		 35.97% -68.13% 17.18% 104.04% -91.93% 35.00% 7.44% 11.05% 20.26% -37.03% 169.32%
Free Cash Flow Firm Q/Q Growth		 -50.65% 516.21% -84.18% 32.58% 8.74% 67.11% -32.84% 14.19% 115.13% -351.02% 47.44%
Invested Capital Q/Q Growth		 -3.33% 0.44% 17.30% 0.84% -1.64% -5.82% -1.75% -8.72% -35.72% 5.91% -33.99%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 52.56% 53.41% 29.76% 25.03% 7.68% -25.72% -4.75% -0.49% 10.70% 17.73% 24.08%
EBITDA Margin		 -68.05% 28.35% -27.41% -23.09% -26.69% -117.56% -23.92% -47.97% -97.26% -6.47% 18.76%
Operating Margin		 -67.62% 25.41% -38.96% -36.82% -54.62% -146.17% -47.08% -86.43% -97.49% -28.98% 1.34%
EBIT Margin		 -64.99% 26.42% -37.15% -35.90% -48.52% -139.60% -42.48% -65.66% -115.53% -24.15% 7.17%
Profit (Net Income) Margin		 -28.03% 34.87% -15.76% -35.01% -51.06% -145.36% -41.66% -77.97% 19.96% -25.04% 17.43%
Tax Burden Percent		 45.43% 121.66% 40.90% 94.19% 93.96% 99.10% 88.61% 107.23% 49.49% 93.48% 495.52%
Interest Burden Percent		 94.93% 108.49% 103.74% 103.52% 112.01% 105.08% 110.69% 110.74% -34.91% 110.90% 49.05%
Effective Tax Rate		 0.00% -21.66% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 50.51% 0.00% -395.52%
Return on Invested Capital (ROIC)		 -14.44% 8.08% -6.56% -9.43% -11.79% -32.02% -15.69% -23.24% -33.61% -17.18% 9.05%
ROIC Less NNEP Spread (ROIC-NNEP)		 -21.83% 6.88% -10.41% -1.72% 1.48% 14.24% -2.61% -0.72% -93.06% -14.34% 3.38%
Return on Net Nonoperating Assets (RNNOA)		 9.68% -3.19% 4.35% 0.52% -0.34% -3.21% 0.63% 0.16% 41.34% 8.41% -2.44%
Return on Equity (ROE)		 -4.76% 4.89% -2.21% -8.91% -12.13% -35.23% -15.06% -23.07% 7.73% -8.76% 6.61%
Cash Return on Invested Capital (CROIC)		 -4.80% 5.02% -39.30% -22.89% -14.87% -1.81% -17.39% -22.03% 5.87% -31.35% -27.28%
Operating Return on Assets (OROA)		 -9.50% 3.28% -4.60% -7.61% -9.10% -25.86% -11.31% -13.76% -32.39% -6.38% 1.91%
Return on Assets (ROA)		 -4.10% 4.33% -1.95% -7.42% -9.57% -26.93% -11.10% -16.34% 5.60% -6.61% 4.64%
Return on Common Equity (ROCE)		 -4.76% 4.89% -2.21% -8.91% -12.13% -35.23% -14.77% -21.58% 7.43% -8.76% 6.61%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -26.67% 6.60% -8.83% 0.00%
Net Operating Profit after Tax (NOPAT)		 -35 19 -18 -33 -45 -107 -45 -67 -80 -35 13
NOPAT Margin		 -47.33% 30.92% -27.27% -25.77% -38.23% -102.32% -32.95% -60.50% -48.25% -20.29% 6.65%
Net Nonoperating Expense Percent (NNEP)		 7.39% 1.19% 3.85% -7.72% -13.27% -46.26% -13.08% -22.52% 59.45% -2.83% 5.67%
Return On Investment Capital (ROIC_SIMPLE)		 -8.19% 4.21% -3.53% -6.47% -8.53% -25.93% -10.25% -15.90% -14.79% -6.62% 1.96%
Cost of Revenue to Revenue		 47.44% 66.17% 70.24% 74.97% 92.32% 125.72% 104.75% 100.49% 89.30% 82.27% 75.92%
SG&A Expenses to Revenue		 16.51% 21.09% 18.30% 8.68% 10.93% 10.66% 8.37% 10.77% 9.29% 9.84% 13.51%
R&D to Revenue		 1.60% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 120.18% 8.42% 68.73% 61.85% 62.30% 120.46% 42.33% 85.94% 108.19% 46.72% 22.73%
Earnings before Interest and Taxes (EBIT)		 -47 16 -25 -46 -57 -146 -58 -72 -192 -42 14
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -50 17 -18 -30 -31 -123 -33 -53 -162 -11 37
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.68 1.94 1.44 1.26 0.92 1.10 1.09 0.86 0.68 0.83 1.85
Price to Tangible Book Value (P/TBV)		 0.68 1.94 1.44 1.26 0.92 1.10 1.09 0.86 0.68 0.83 1.85
Price to Revenue (P/Rev)		 3.90 14.21 11.14 4.78 3.93 3.84 2.98 2.52 2.06 2.36 5.10
Price to Earnings (P/E)		 0.00 40.76 0.00 0.00 0.00 0.00 0.00 0.00 6.19 0.00 29.29
Dividend Yield		 0.48% 0.17% 0.00% 0.55% 0.79% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 2.45% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 16.15% 0.00% 3.41%
Enterprise Value to Invested Capital (EV/IC)		 0.41 2.77 1.70 1.27 0.85 1.13 1.11 0.52 0.16 0.62 3.69
Enterprise Value to Revenue (EV/Rev)		 1.29 10.76 8.25 3.71 2.79 3.07 2.35 1.33 0.19 0.79 3.21
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 37.96 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 17.10
Enterprise Value to EBIT (EV/EBIT)		 0.00 40.74 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 44.74
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 34.80 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 48.21
Enterprise Value to Operating Cash Flow (EV/OCF)		 6.04 87.25 0.00 975.92 0.00 0.00 0.00 0.00 0.00 4.67 92.33
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 55.97 0.00 0.00 0.00 0.00 0.00 0.00 2.25 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.01 0.00 0.00 0.05 0.05 0.13 0.13 0.18 0.08 0.08 0.23
Long-Term Debt to Equity		 0.00 0.00 0.00 0.05 0.04 0.13 0.13 0.15 0.08 0.08 0.23
Financial Leverage		 -0.44 -0.46 -0.42 -0.30 -0.23 -0.23 -0.24 -0.23 -0.44 -0.59 -0.72
Leverage Ratio		 1.16 1.13 1.13 1.20 1.27 1.31 1.36 1.41 1.38 1.33 1.43
Compound Leverage Factor		 1.10 1.23 1.17 1.24 1.42 1.37 1.50 1.56 -0.48 1.47 0.70
Debt to Total Capital		 0.81% 0.00% 0.11% 4.82% 4.72% 11.65% 11.14% 15.22% 7.37% 7.48% 18.76%
Short-Term Debt to Total Capital		 0.81% 0.00% 0.09% 0.00% 0.95% 0.00% 0.00% 2.38% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.02% 4.82% 3.77% 11.65% 11.14% 12.84% 7.37% 7.48% 18.76%
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		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3.37% 7.96% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 99.19% 100.00% 99.89% 95.18% 95.28% 88.35% 85.50% 76.81% 92.63% 92.52% 81.24%
Debt to EBITDA		 -0.07 0.00 -0.03 -0.83 -0.79 -0.39 -1.50 -1.21 -0.25 -3.55 3.40
Net Debt to EBITDA		 3.84 0.00 10.53 4.62 4.28 0.66 3.08 3.10 1.92 24.31 -10.11
Long-Term Debt to EBITDA		 0.00 0.00 0.00 -0.83 -0.63 -0.39 -1.50 -1.02 -0.25 -3.55 3.40
Debt to NOPAT		 -0.10 0.00 -0.03 -0.74 -0.55 -0.45 -1.09 -0.96 -0.50 -1.13 9.60
Net Debt to NOPAT		 5.52 0.00 10.58 4.14 2.99 0.76 2.24 2.45 3.88 7.75 -28.49
Long-Term Debt to NOPAT		 0.00 0.00 0.00 -0.74 -0.44 -0.45 -1.09 -0.81 -0.50 -1.13 9.60
Altman Z-Score		 0.15 7.10 4.24 0.61 -0.22 -2.26 -1.53 -2.78 -2.04 -1.26 0.39
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.96% 6.46% 3.90% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.47 3.82 2.31 1.65 1.89 1.17 1.62 0.97 1.76 0.86 1.69
Quick Ratio		 1.22 2.23 0.93 0.52 0.99 0.46 1.07 0.49 0.90 0.33 1.18
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -11 12 -110 -80 -56 -6.07 -50 -63 14 -65 -40
Operating Cash Flow to CapEx		 2,041.49% 120.81% -323.88% 0.60% -133.06% -208.43% -58.33% -233.93% -151.87% 68.35% 15.38%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 -117.59 -49.51 -8.28 -0.82 -8.05 -8.13 0.00 -14.06 -5.49
Operating Cash Flow to Interest Expense		 0.00 0.00 -29.47 0.30 -5.80 -3.75 -3.24 -7.26 0.00 6.41 0.95
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 -38.57 -49.88 -10.16 -5.55 -8.78 -10.37 0.00 -2.97 -5.23
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.15 0.12 0.12 0.21 0.19 0.19 0.27 0.21 0.28 0.26 0.27
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 131.09 114.36
Inventory Turnover		 2.53 1.92 1.62 3.56 3.58 4.03 6.69 4.67 5.75 7.54 6.67
Fixed Asset Turnover		 4.34 4.02 2.07 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 1.73 2.08 1.73 2.93 3.09 3.51 3.78 2.70 4.56 5.62 4.09
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.78 3.19
Days Inventory Outstanding (DIO)		 144.38 189.98 225.58 102.54 102.06 90.52 54.56 78.17 63.53 48.38 54.69
Days Payable Outstanding (DPO)		 211.38 175.72 211.54 124.77 118.06 104.07 96.56 135.09 80.13 64.97 89.26
Cash Conversion Cycle (CCC)		 -66.99 14.26 14.05 -22.23 -16.00 -13.56 -42.00 -56.92 -16.59 -13.81 -31.38
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 228 235 327 374 385 284 289 286 192 221 172
Invested Capital Turnover		 0.31 0.26 0.24 0.37 0.31 0.31 0.48 0.38 0.70 0.85 1.36
Increase / (Decrease) in Invested Capital		 -23 7.06 92 47 12 -101 4.88 -3.48 -94 29 53
Enterprise Value (EV)		 94 650 557 475 327 322 321 147 32 137 634
Market Capitalization		 285 858 752 612 460 403 407 278 342 412 1,008
Book Value per Share		 $1.52 $1.48 $1.57 $1.44 $1.38 $0.89 $0.82 $6.81 $10.58 $9.35 $10.03
Tangible Book Value per Share		 $1.52 $1.48 $1.57 $1.44 $1.38 $0.89 $0.82 $6.81 $10.58 $9.35 $10.03
Total Capital		 422 443 522 511 524 413 439 420 542 535 672
Total Debt		 3.40 0.00 0.55 25 25 48 49 64 40 40 126
Total Long-Term Debt		 0.00 0.00 0.08 25 20 48 49 54 40 40 126
Net Debt		 -191 -208 -195 -137 -134 -81 -101 -164 -311 -274 -375
Capital Expenditures (CapEx)		 0.76 6.17 8.54 81 30 13 34 24 26 43 45
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 8.89 12 4.57 -10 -0.15 -13 -26 -34 -2.11 -22 -28
Debt-free Net Working Capital (DFNWC)		 36 58 50 23 48 7.94 33 7.47 23 -6.50 44
Net Working Capital (NWC)		 32 58 49 23 43 7.94 33 -2.53 23 -6.50 44
Net Nonoperating Expense (NNE)		 -14 -2.38 -7.77 12 15 45 12 19 -113 8.29 -21
Net Nonoperating Obligations (NNO)		 -191 -208 -195 -112 -114 -81 -101 -71 -311 -274 -375
Total Depreciation and Amortization (D&A)		 -2.23 1.17 6.58 16 26 23 25 20 30 31 23
Debt-free, Cash-free Net Working Capital to Revenue		 12.19% 19.89% 6.78% -7.96% -0.13% -12.31% -19.05% -30.44% -1.27% -12.50% -14.20%
Debt-free Net Working Capital to Revenue		 49.07% 96.03% 73.66% 18.23% 41.18% 7.58% 23.90% 6.76% 13.63% -3.73% 22.31%
Net Working Capital to Revenue		 44.42% 96.03% 72.96% 18.23% 36.90% 7.58% 23.90% -2.29% 13.63% -3.73% 22.31%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($7.00) $7.00 ($3.00) ($13.00) ($17.00) ($38.00) $0.00 ($1.71) $1.16 ($0.86) $0.64
Adjusted Weighted Average Basic Shares Outstanding		 3.00M 2.99M 3.14M 3.37M 4.00M 4.59M 0.00 47.43M 47.54M 51.02M 54.05M
Adjusted Diluted Earnings per Share		 $0.00 $7.00 ($3.00) ($13.00) ($17.00) ($38.00) $0.00 ($1.71) $1.16 ($0.86) $0.59
Adjusted Weighted Average Diluted Shares Outstanding		 2.77M 3.00M 3.14M 3.37M 4.00M 4.59M 0.00 47.43M 47.54M 51.02M 65.56M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 ($13.00) ($17.00) ($38.00) $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 2.77M 3.00M 3.37M 3.45M 3.62M 4.03M 0.00 47.43M 49.44M 53.93M 59.45M
Normalized Net Operating Profit after Tax (NOPAT)		 9.13 11 -18 -33 -45 -49 -45 -67 -113 -35 1.86
Normalized NOPAT Margin		 12.52% 17.79% -26.54% -25.77% -38.23% -46.34% -32.95% -60.50% -68.24% -20.29% 0.94%
Pre Tax Income Margin		 -61.69% 28.66% -38.54% -37.17% -54.34% -146.69% -47.02% -72.71% 40.33% -26.79% 3.52%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 -26.72 -28.43 -8.33 -19.68 -9.35 -9.31 0.00 -9.17 1.96
NOPAT to Interest Expense		 0.00 0.00 -19.62 -20.40 -6.56 -14.42 -7.26 -8.58 0.00 -7.70 1.82
EBIT Less CapEx to Interest Expense		 0.00 0.00 -35.82 -78.60 -12.69 -21.48 -14.90 -12.41 0.00 -18.55 -4.22
NOPAT Less CapEx to Interest Expense		 0.00 0.00 -28.72 -70.58 -10.92 -16.22 -12.81 -11.68 0.00 -17.08 -4.36
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -7.35% 14.18% -28.77% -7.52% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -16.00% 16.95% -28.77% -7.52% 0.00% 0.00% 0.00% 0.00% 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 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		 - - - - - 53,934,510.00 53,987,670.00 54,106,415.00 54,480,457.00 59,452,799.00 59,740,087.00
DEI Adjusted Shares Outstanding		 - - - - - 53,934,510.00 53,987,670.00 54,106,415.00 54,480,457.00 59,452,799.00 59,740,087.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - -0.12 0.06 -0.01 0.70 0.56 0.16
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 107.79% 18.63% 38.03% 36.05% -42.87% -13.42% -1.63% -3.28% 92.77% 107.44% 26.84%
EBITDA Growth		 -47.60% 61.64% 89.38% 128.70% 101.63% 100.74% 275.91% -13.71% 3,873.17% 3,206.59% 94.62%
EBIT Growth		 -32.72% 51.40% 78.98% 99.53% 85.39% 72.53% 126.95% 43.72% 366.34% 673.02% 200.16%
NOPAT Growth		 -37.12% 48.68% 67.57% 99.66% 72.93% 65.24% 45.52% -8,591.75% 686.86% 875.21% 340.34%
Net Income Growth		 435.59% 44.02% 69.96% 92.67% -105.83% 69.24% 123.39% 77.80% 563.14% 632.36% 215.99%
EPS Growth		 468.35% 54.95% 43.48% 89.74% -105.15% 70.73% 123.08% 75.00% 540.00% 491.67% 133.33%
Operating Cash Flow Growth		 166.63% 119.91% 110.61% 1,116.62% -107.52% -149.78% -86.74% -77.50% 356.11% 726.45% 9,569.67%
Free Cash Flow Firm Growth		 336.36% 345.02% 542.59% 1,859.57% -169.59% -162.18% -172.66% -164.28% -88.82% 75.58% 16.50%
Invested Capital Growth		 -32.97% -33.53% -36.09% -30.04% 15.25% 23.54% 34.55% 24.75% 44.39% 22.79% 28.13%
Revenue Q/Q Growth		 52.80% -29.74% 15.15% 10.06% -35.84% 6.48% 30.83% 8.21% 27.88% 14.59% -20.01%
EBITDA Q/Q Growth		 -20.63% 60.15% 59.10% 246.00% -93.13% -82.00% 9,648.15% -28.38% 216.17% 72.02% -68.41%
EBIT Q/Q Growth		 -9.87% 48.43% 38.21% 98.66% -3,317.49% 3.05% 160.61% -102.80% 16,271.84% 108.57% -83.33%
NOPAT Q/Q Growth		 -86.30% 59.09% 36.55% 99.30% -14,895.88% 47.48% 0.55% -10.96% 1,112.51% -30.62% -69.17%
Net Income Q/Q Growth		 597.73% -114.43% 36.25% 83.99% -295.58% 23.83% 148.48% -115.20% 8,352.38% -12.45% -71.22%
EPS Q/Q Growth		 846.15% -114.09% 36.59% 84.62% -275.00% 20.00% 150.00% -116.67% 6,700.00% -28.79% -70.21%
Operating Cash Flow Q/Q Growth		 806.58% -75.91% -7.09% 542.79% -105.23% -59.41% 124.74% 991.00% -40.48% 289.92% 281.90%
Free Cash Flow Firm Q/Q Growth		 1,213.63% 42.82% 21.54% -8.98% -144.04% -180.49% -42.02% 19.48% 112.15% -275.73% -385.70%
Invested Capital Q/Q Growth		 -35.72% -0.36% 0.23% 8.97% 5.91% 98.33% 9.16% 1.03% -33.99% 68.66% 13.91%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 22.24% 14.58% 22.66% 26.42% 1.08% 28.21% 26.30% 15.47% 26.92% 42.53% 33.90%
EBITDA Margin		 -62.58% -35.50% -12.61% 16.72% 1.79% 0.30% 22.54% 14.92% 36.89% 55.38% 21.87%
Operating Margin		 -80.74% -53.32% -29.38% -0.19% -43.39% -21.40% -7.23% -16.68% 34.20% 55.70% 13.01%
EBIT Margin		 -72.93% -53.53% -28.72% -0.35% -18.66% -16.99% 7.87% -0.20% 25.78% 46.92% 9.77%
Profit (Net Income) Margin		 240.66% -49.44% -27.37% -3.98% -24.56% -17.57% 6.51% -0.91% 59.00% 45.08% 16.22%
Tax Burden Percent		 79.38% 88.85% 84.54% 164.25% 114.96% 85.32% 157.59% 26.69% 270.40% 100.52% 165.91%
Interest Burden Percent		 -415.73% 103.94% 112.72% 692.35% 114.50% 121.21% 52.49% 1,680.58% 84.65% 95.58% 100.00%
Effective Tax Rate		 20.62% 0.00% 0.00% 0.00% 0.00% 0.00% -57.59% 0.00% -170.40% -0.52% -65.91%
Return on Invested Capital (ROIC)		 -44.65% -26.98% -15.58% -0.10% -25.71% -11.87% -8.54% -8.30% 125.76% 50.29% 18.27%
ROIC Less NNEP Spread (ROIC-NNEP)		 -138.41% -25.02% -14.16% 0.83% -26.38% -11.52% -11.75% -10.38% 131.53% 52.96% 19.32%
Return on Net Nonoperating Assets (RNNOA)		 61.49% 12.92% 6.83% -0.38% 15.48% 6.42% 6.31% 5.47% -94.83% -28.38% -9.80%
Return on Equity (ROE)		 16.84% -14.06% -8.75% -0.49% -10.24% -5.45% -2.23% -2.83% 30.93% 21.91% 8.47%
Cash Return on Invested Capital (CROIC)		 5.87% 4.39% 11.30% 10.17% -31.35% -32.96% -37.47% -32.19% -27.28% 10.14% 8.83%
Operating Return on Assets (OROA)		 -20.44% -14.05% -8.62% -0.11% -4.92% -4.19% 1.92% -0.05% 6.86% 13.00% 2.81%
Return on Assets (ROA)		 67.47% -12.97% -8.21% -1.28% -6.48% -4.33% 1.59% -0.22% 15.70% 12.49% 4.66%
Return on Common Equity (ROCE)		 16.18% -12.42% -7.88% -0.44% -10.24% -5.45% -2.23% -2.83% 30.93% 21.91% 8.47%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 10.20% 16.38% 21.06% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -38 -15 -9.76 -0.07 -10 -5.35 -5.32 -5.90 60 41 13
NOPAT Margin		 -64.09% -37.32% -20.56% -0.13% -30.37% -14.98% -11.39% -11.68% 92.47% 55.99% 21.58%
Net Nonoperating Expense Percent (NNEP)		 93.76% -1.96% -1.42% -0.94% 0.67% -0.34% 3.21% 2.08% -5.76% -2.66% -1.05%
Return On Investment Capital (ROIC_SIMPLE)		 -6.93% -2.94% -1.86% -0.01% -1.90% -0.88% -0.87% -0.96% 8.89% 5.12% 1.53%
Cost of Revenue to Revenue		 77.76% 85.42% 77.34% 73.58% 98.92% 71.79% 73.70% 84.53% 73.08% 57.47% 66.10%
SG&A Expenses to Revenue		 10.63% 9.88% 9.40% 4.09% 19.37% 9.44% 10.81% 12.01% 18.90% 12.78% 13.39%
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		 102.98% 67.90% 52.04% 26.60% 44.47% 49.61% 33.52% 32.15% -7.28% -13.16% 20.89%
Earnings before Interest and Taxes (EBIT)		 -43 -22 -14 -0.18 -6.25 -6.06 3.68 -0.10 17 35 5.79
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -37 -15 -5.99 8.74 0.60 0.11 11 7.54 24 41 13
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.68 1.01 0.00 0.95 0.83 0.85 1.07 1.89 1.85 1.86 1.91
Price to Tangible Book Value (P/TBV)		 0.68 1.01 0.00 0.95 0.83 0.85 1.07 1.89 1.85 1.86 1.91
Price to Revenue (P/Rev)		 2.06 2.82 0.00 2.38 2.36 2.41 3.09 5.56 5.10 5.15 5.44
Price to Earnings (P/E)		 6.19 6.25 0.00 4.61 0.00 0.00 0.00 0.00 29.29 16.39 16.77
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 16.15% 16.00% 0.00% 21.68% 0.00% 0.00% 0.00% 0.00% 3.41% 6.10% 5.96%
Enterprise Value to Invested Capital (EV/IC)		 0.16 1.03 0.00 0.87 0.62 0.69 1.13 2.68 3.69 2.94 2.96
Enterprise Value to Revenue (EV/Rev)		 0.19 1.13 0.00 0.91 0.79 0.97 1.73 4.19 3.21 3.61 3.93
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 47.13 14.60 37.10 17.10 10.73 11.39
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 44.74 15.49 16.58
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 48.21 10.60 9.92
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 3.88 4.67 6.90 14.22 273.30 92.33 40.74 14.64
Enterprise Value to Free Cash Flow (EV/FCFF)		 2.25 18.65 0.00 7.05 0.00 0.00 0.00 0.00 0.00 31.97 37.65
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.08 0.08 0.08 0.08 0.08 0.26 0.26 0.26 0.23 0.24 0.18
Long-Term Debt to Equity		 0.08 0.08 0.07 0.06 0.08 0.26 0.26 0.26 0.23 0.19 0.17
Financial Leverage		 -0.44 -0.52 -0.48 -0.46 -0.59 -0.56 -0.54 -0.53 -0.72 -0.54 -0.51
Leverage Ratio		 1.38 1.33 1.31 1.33 1.33 1.42 1.42 1.43 1.43 1.50 1.45
Compound Leverage Factor		 -5.74 1.39 1.47 9.18 1.52 1.72 0.75 24.01 1.21 1.44 1.45
Debt to Total Capital		 7.37% 7.66% 7.62% 7.38% 7.48% 20.74% 20.61% 20.50% 18.76% 19.47% 15.19%
Short-Term Debt to Total Capital		 0.00% 0.57% 1.14% 1.66% 0.00% 0.00% 0.00% 0.00% 0.00% 4.23% 0.72%
Long-Term Debt to Total Capital		 7.37% 7.08% 6.47% 5.72% 7.48% 20.74% 20.61% 20.50% 18.76% 15.24% 14.47%
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		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 92.63% 92.34% 92.38% 92.62% 92.52% 79.26% 79.39% 79.50% 81.24% 80.53% 84.81%
Debt to EBITDA		 -0.25 -0.29 -0.46 -0.82 -3.55 36.27 6.30 6.71 3.40 1.99 1.48
Net Debt to EBITDA		 1.92 2.11 3.35 6.04 24.31 -70.53 -11.37 -12.17 -10.11 -4.57 -4.40
Long-Term Debt to EBITDA		 -0.25 -0.27 -0.39 -0.64 -3.55 36.27 6.30 6.71 3.40 1.55 1.41
Debt to NOPAT		 -0.50 -0.47 -0.50 -0.63 -1.13 -4.95 -7.00 -5.29 9.60 1.96 1.29
Net Debt to NOPAT		 3.88 3.40 3.66 4.61 7.75 9.62 12.65 9.61 -28.49 -4.51 -3.83
Long-Term Debt to NOPAT		 -0.50 -0.43 -0.42 -0.49 -1.13 -4.95 -7.00 -5.29 9.60 1.54 1.23
Altman Z-Score		 -1.29 -0.76 0.00 -0.69 -1.08 -1.24 -0.91 0.01 0.40 0.86 1.45
Noncontrolling Interest Sharing Ratio		 3.90% 11.70% 9.92% 8.98% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.76 1.37 1.68 1.17 0.86 2.35 2.35 2.10 1.69 1.14 2.04
Quick Ratio		 0.90 0.69 1.06 0.59 0.33 1.77 1.67 1.47 1.18 0.74 1.49
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 57 81 98 89 -39 -50 -71 -57 6.99 -12 -60
Operating Cash Flow to CapEx		 205.96% 85.82% 53.95% 121.10% -9.51% -13.29% 4.95% 48.16% 32.24% 89.40% 187.78%
Free Cash Flow to Firm to Interest Expense		 38.93 92.93 56.67 82.51 -43.43 -39.09 -40.89 -35.31 2.73 -7.99 0.00
Operating Cash Flow to Interest Expense		 11.08 4.46 2.08 21.38 -1.34 -1.50 0.27 3.20 1.21 7.87 0.00
Operating Cash Flow Less CapEx to Interest Expense		 5.70 -0.74 -1.78 3.73 -15.39 -12.80 -5.25 -3.45 -2.55 -0.93 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.28 0.26 0.30 0.32 0.26 0.25 0.24 0.24 0.27 0.28 0.29
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 131.09 88.97 32.37 0.00 114.36 158.43 48.50
Inventory Turnover		 5.75 7.06 6.91 6.36 7.54 6.60 5.97 5.28 6.67 6.41 6.69
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		 4.56 4.33 5.08 4.61 5.62 5.18 4.49 4.18 4.09 4.47 4.56
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 2.78 4.10 11.28 0.00 3.19 2.30 7.53
Days Inventory Outstanding (DIO)		 63.53 51.68 52.81 57.43 48.38 55.33 61.17 69.08 54.69 56.96 54.55
Days Payable Outstanding (DPO)		 80.13 84.36 71.80 79.13 64.97 70.49 81.35 87.35 89.26 81.71 79.98
Cash Conversion Cycle (CCC)		 -16.59 -32.67 -18.99 -21.70 -13.81 -11.06 -8.91 -18.27 -31.38 -22.44 -17.90
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 192 191 191 208 221 236 257 260 172 289 330
Invested Capital Turnover		 0.70 0.72 0.76 0.79 0.85 0.79 0.75 0.71 1.36 0.90 0.85
Increase / (Decrease) in Invested Capital		 -94 -96 -108 -90 29 45 66 52 53 54 72
Enterprise Value (EV)		 32 196 0.00 181 137 163 292 697 634 852 976
Market Capitalization		 342 487 0.00 475 412 407 519 925 1,008 1,214 1,353
Book Value per Share		 $10.58 $9.76 $9.76 $9.83 $9.35 $8.90 $8.98 $9.03 $10.03 $10.97 $11.78
Tangible Book Value per Share		 $10.58 $9.76 $9.76 $9.83 $9.35 $8.90 $8.98 $9.03 $10.03 $10.97 $11.78
Total Capital		 542 523 525 542 535 605 610 615 672 810 833
Total Debt		 40 40 40 40 40 126 126 126 126 158 127
Total Long-Term Debt		 40 37 34 31 40 126 126 126 126 123 121
Net Debt		 -311 -292 -294 -294 -274 -244 -227 -229 -375 -362 -377
Capital Expenditures (CapEx)		 7.82 4.52 6.68 19 13 15 9.65 11 9.63 14 25
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -2.11 -6.45 -7.49 -13 -22 -18 -7.70 -13 -28 -23 -20
Debt-free Net Working Capital (DFNWC)		 23 17 35 18 -6.50 61 62 63 44 47 72
Net Working Capital (NWC)		 23 14 29 8.64 -6.50 61 62 63 44 13 66
Net Nonoperating Expense (NNE)		 -179 5.00 3.23 2.01 -1.95 0.92 -8.36 -5.44 22 8.08 3.18
Net Nonoperating Obligations (NNO)		 -311 -292 -294 -294 -274 -244 -227 -229 -375 -362 -377
Total Depreciation and Amortization (D&A)		 6.07 7.44 7.65 8.92 6.85 6.17 6.85 7.64 7.18 6.27 7.16
Debt-free, Cash-free Net Working Capital to Revenue		 -1.27% -3.73% -4.03% -6.31% -12.50% -10.72% -4.58% -7.70% -14.20% -9.62% -7.92%
Debt-free Net Working Capital to Revenue		 13.63% 9.91% 18.91% 8.83% -3.73% 36.19% 36.76% 37.61% 22.31% 20.09% 29.00%
Net Working Capital to Revenue		 13.63% 8.17% 15.68% 4.33% -3.73% 36.19% 36.76% 37.61% 22.31% 5.58% 26.58%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.91 ($0.41) ($0.26) ($0.04) ($0.15) ($0.12) $0.06 ($0.01) $0.71 $0.56 $0.16
Adjusted Weighted Average Basic Shares Outstanding		 47.54M 49.44M 49.72M 51.95M 51.02M 53.27M 53.97M 54.17M 54.05M 58.86M 60.00M
Adjusted Diluted Earnings per Share		 $2.91 ($0.41) ($0.26) ($0.04) ($0.15) ($0.12) $0.06 ($0.01) $0.66 $0.47 $0.14
Adjusted Weighted Average Diluted Shares Outstanding		 47.54M 49.44M 49.72M 51.95M 51.02M 53.27M 54.02M 54.17M 65.56M 72.43M 74.61M
Adjusted Basic & Diluted Earnings per Share		 $2.91 $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		 49.44M 49.44M 51.09M 52.92M 53.93M 53.99M 54.11M 54.48M 59.45M 59.74M 61.36M
Normalized Net Operating Profit after Tax (NOPAT)		 -38 -15 -9.76 -0.07 -10 -5.35 -2.36 -5.90 15 29 5.39
Normalized NOPAT Margin		 -64.09% -37.32% -20.56% -0.13% -30.37% -14.98% -5.06% -11.68% 23.94% 38.99% 9.11%
Pre Tax Income Margin		 303.19% -55.64% -32.38% -2.42% -21.36% -20.59% 4.13% -3.43% 21.82% 44.84% 9.77%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -29.43 -25.37 -7.86 -0.17 -6.90 -4.71 2.10 -0.06 6.51 22.60 0.00
NOPAT to Interest Expense		 -25.87 -17.69 -5.63 -0.06 -11.23 -4.16 -3.05 -3.63 23.37 26.97 0.00
EBIT Less CapEx to Interest Expense		 -34.81 -30.57 -11.72 -17.83 -20.95 -16.02 -3.42 -6.72 2.75 13.80 0.00
NOPAT Less CapEx to Interest Expense		 -31.25 -22.88 -9.48 -17.72 -25.28 -15.46 -8.57 -10.28 19.60 18.17 0.00
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% 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% 0.00%

Financials Breakdown Chart

Key Financial Trends

McEwen Mining (NYSE:MUX) showed a sharp turnaround in Q1 2026, with revenue, earnings, and operating cash flow all improving versus recent quarters, but the business still carries meaningful leverage and heavy reliance on non-operating income and equity issuance.

  • Q1 2026 revenue jumped to $74.0 million, up from $64.6 million in Q4 2025 and $35.7 million in Q1 2025, showing solid top-line momentum.
  • Net income reached $33.4 million in Q1 2026, a big improvement from the $0.5 million loss in Q3 2025 and the $6.3 million loss in Q1 2025.
  • Operating cash flow turned positive at $12.1 million in Q1 2026, versus $5.2 million in Q3 2025 and a cash burn of $1.9 million in Q1 2025.
  • Cash and equivalents increased to $56.5 million at the end of Q1 2026, up from $51.2 million in Q3 2025 and $68.5 million in Q1 2025, while total current assets rose to $109.8 million.
  • Equity strengthened to $652.0 million, compared with $488.6 million in Q3 2025 and $479.8 million in Q1 2025, helped by stronger earnings and capital raises.
  • Gross profit improved to $31.5 million in Q1 2026, up sharply from $17.4 million in Q4 2025 and $10.1 million in Q1 2025.
  • Short-term investments remain large at $13.5 million, and long-term investments are still a major balance sheet item at $450.0 million, supporting liquidity but also introducing market-value sensitivity.
  • Capital spending continued, with $14.6 million spent on property, plant and equipment in Q1 2026, indicating ongoing reinvestment in the business.
  • Shares outstanding have trended higher year over year, with diluted shares at 72.4 million in Q1 2026 versus 53.2 million in Q1 2025, which can dilute per-share results.
  • Debt remains significant, including $34.2 million of short-term debt and $123.4 million of long-term debt at Q1 2026.
  • Operating performance has been volatile historically; the company posted losses in several recent quarters, including Q3 2025 and most of 2024, before the Q1 2026 rebound.
  • Other income played a large role in pre-tax results in prior periods, which suggests earnings can be sensitive to non-core items rather than just mining operations.

Bottom line: McEwen Mining’s latest quarter looks much healthier than the prior few periods, especially on revenue, earnings, and operating cash flow. Still, investors should watch whether the improvement is sustainable, because the balance sheet remains debt-heavy and the company has a history of choppy quarterly results and dilution.

08/18/26 10:45 PM ETAI Generated. May Contain Errors.

McEwen Financials - Frequently Asked Questions

According to the most recent income statement we have on file, McEwen's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Over the last 10 years, McEwen's net income changed from -$20.45 million in 2015 to $34.43 million in 2025, a change of -268.4%. See McEwen's forecast for analyst expectations on what's next for the company.

McEwen's total operating income in 2025 was $2.65 million, based on the following breakdown:
  • Total Gross Profit: $47.56 million
  • Total Operating Expenses: $44.91 million

Over the last 10 years, McEwen's total revenue changed from $72.96 million in 2015 to $197.55 million in 2025, a change of 170.8%.

McEwen's total liabilities were at $273.98 million at the end of 2025, a 61.5% increase from 2024, and a 382.4% increase since 2015.

In the past 10 years, McEwen's cash and equivalents has ranged from $13.69 million in 2024 to $54.29 million in 2021, and is currently $51.02 million as of their latest financial filing in 2025.

Over the last 10 years, McEwen's book value per share changed from 1.52 in 2015 to 10.03 in 2025, a change of 558.3%.


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Financial statements for NYSE:MUX last updated on 8/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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