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McEwen (MUX) Financials

McEwen logo
$21.36 -0.19 (-0.86%)
Closing price 05/21/2026 03:59 PM Eastern
Extended Trading
$21.37 +0.01 (+0.02%)
As of 07:00 AM 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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
Net Income / (Loss) Attributable to Common Shareholders		 -18 138 -20 -13 -2.08 -8.23 -6.27 3.04 -0.46 38 33
Consolidated Net Income / (Loss)		 -28 141 -20 -13 -2.08 -8.23 -6.27 3.04 -0.46 38 33
Net Income / (Loss) Continuing Operations		 -28 141 -20 -13 -2.08 -8.23 -6.27 3.04 -0.46 38 33
Total Pre-Tax Income 		-29 178 -23 -15 -1.27 -7.16 -7.35 1.93 -1.73 14 33
Total Operating Income		 -29 -47 -22 -14 -0.10 -15 -7.64 -3.38 -8.43 22 41
Total Gross Profit		 3.76 13 6.01 11 14 0.36 10 12 7.82 17 31
Total Revenue		 38 59 41 47 52 34 36 47 51 65 74
Operating Revenue		 38 59 41 47 52 34 36 47 51 65 74
Total Cost of Revenue		 35 46 35 37 38 33 26 34 43 47 43
Operating Cost of Revenue		 35 46 35 37 38 33 26 34 43 47 43
Total Operating Expenses		 33 60 28 25 14 15 18 16 16 -4.70 -9.75
Selling, General & Admin Expense		 3.72 6.24 4.07 4.46 2.14 6.49 3.37 5.05 6.07 12 9.46
Exploration Expense		 4.67 3.74 3.87 4.98 5.33 2.36 3.68 5.39 6.78 6.35 5.46
Depreciation Expense		 0.33 0.22 0.17 0.16 0.16 0.15 0.15 0.17 0.16 0.15 0.17
Other Operating Expenses / (Income)		 24 50 20 15 6.28 5.91 11 5.05 3.24 -23 -25
Total Other Income / (Expense), net		 0.22 225 -0.96 -1.42 -1.17 7.39 0.29 5.30 6.70 -8.00 -8.04
Interest Expense		 -10 1.45 0.87 1.73 1.08 0.91 1.29 1.75 1.63 2.56 1.54
Other Income / (Expense), net		 -10 4.59 -0.09 0.31 -0.09 8.29 1.58 7.05 8.33 -5.44 -6.50
Income Tax Expense		 -0.24 37 -2.56 -2.38 0.81 1.07 -1.08 -1.11 -1.27 -24 -0.17
Basic Earnings per Share		 ($0.39) $2.91 ($0.41) ($0.26) ($0.04) ($0.15) ($0.12) $0.06 ($0.01) $0.71 $0.56
Weighted Average Basic Shares Outstanding		 47.47M 47.54M 49.44M 49.72M 51.95M 51.02M 53.27M 53.97M 54.17M 54.05M 58.86M
Diluted Earnings per Share		 ($0.39) $2.91 ($0.41) ($0.26) ($0.04) ($0.15) ($0.12) $0.06 ($0.01) $0.66 $0.47
Weighted Average Diluted Shares Outstanding		 47.47M 47.54M 49.44M 49.72M 51.95M 51.02M 53.27M 54.02M 54.17M 65.56M 72.43M
Weighted Average Basic & Diluted Shares Outstanding		 47.49M 49.44M 49.44M 51.09M 52.92M 53.93M 53.99M 54.11M 54.48M 59.45M 59.74M

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
Net Change in Cash & Equivalents		 -36 -26 -1.09 17 -11 -15 55 -15 -2.30 0.01 5.65
Net Cash From Operating Activities		 -2.28 16 3.88 3.61 23 -1.21 -1.93 0.48 5.22 3.10 12
Net Cash From Continuing Operating Activities		 -2.28 16 3.88 3.61 23 -1.21 -1.93 0.48 5.22 3.10 12
Net Income / (Loss) Continuing Operations		 -28 141 -20 -13 -2.08 -8.23 -6.27 3.04 -0.46 38 33
Consolidated Net Income / (Loss)		 -28 141 -20 -13 -2.08 -8.23 -6.27 3.04 -0.46 38 33
Depreciation Expense		 8.51 6.07 7.44 7.65 8.92 6.85 6.17 6.85 7.64 7.18 7.08
Amortization Expense		 - - - - - - -1.43 - - - -0.81
Non-Cash Adjustments To Reconcile Net Income		 14 -126 15 11 3.91 0.40 5.95 -0.93 -7.70 -40 -13
Changes in Operating Assets and Liabilities, net		 3.98 -4.96 1.99 -1.97 12 -0.24 -6.36 -8.49 5.74 2.37 -14
Net Cash From Investing Activities		 -16 -47 -4.58 -6.55 -34 -13 -14 -15 -11 -8.25 -21
Net Cash From Continuing Investing Activities		 -16 -48 -4.58 -6.55 -34 -13 -14 -15 -11 -8.25 -21
Purchase of Property, Plant & Equipment		 -9.32 -7.82 -4.52 -6.68 -19 -13 -15 -9.65 -11 -9.63 -15
Acquisitions		 - -46 0.00 - - - 0.00 - - - 0.00
Purchase of Investments		 -7.05 -0.25 -0.05 0.05 -0.08 -0.29 -1.40 -0.60 -0.16 - 0.00
Sale of Property, Plant & Equipment		 - - - - - - 0.09 - - - 1.01
Other Investing Activities, net		 - - - - - 0.22 2.25 - - - -7.50
Net Cash From Financing Activities		 -0.56 13 -0.14 20 -0.50 -0.33 71 -0.26 3.45 5.03 15
Net Cash From Continuing Financing Activities		 -0.56 13 -0.14 20 -0.50 -0.33 71 -0.26 3.45 5.03 15
Repayment of Debt		 - - 0.00 - - - -24 0.05 - - 0.00
Issuance of Debt		 - - 0.00 - - - 110 - - - 0.00
Issuance of Common Equity		 - 13 - - - - 0.00 - - 4.87 15
Other Financing Activities, net		 -0.56 -0.13 -0.14 -0.24 -0.50 -0.33 -15 -0.32 3.45 0.16 -0.30
Effect of Exchange Rate Changes		 -16 -7.79 -0.26 -0.45 0.42 -0.38 0.00 0.11 -0.01 0.13 0.05
Cash Interest Paid		 13 -41 0.97 1.60 1.09 0.25 0.76 0.02 3.55 0.38 3.37
Cash Income Taxes Paid		 0.99 -4.33 0.00 - - 0.31 0.21 1.73 - 0.04 0.00

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
Other Current Assets		 2.53 1.67 4.54 3.77 5.27 5.69 - - 5.58 7.49 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 0.00
Noncurrent Deferred & Refundable Income Taxes		 - - - - - - - - - 0.00 26
Other Noncurrent Operating Assets		 238 243 304 430 429 338 349 354 278 223 258
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 Revenue		 - - - - - - 0.00 6.16 0.00 - 7.55
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 8.37
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

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 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 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
Total Assets		 545 678 593 573 639 645 668 731 736 748 973
Total Current Assets		 96 223 145 126 52 72 60 106 108 119 110
Cash & Equivalents		 55 191 85 49 22 41 29 69 54 51 57
Short-Term Investments		 1.43 1.59 29 41 1.57 1.95 1.00 11 16 24 14
Note & Lease Receivable		 - - - - 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
Inventories, net		 30 24 24 27 20 20 22 21 24 30 31
Other Current Assets		 - - - 8.68 5.84 6.39 7.41 5.36 6.77 6.30 6.45
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		 449 454 448 447 587 573 608 624 628 628 863
Long-Term Investments		 93 90 89 86 308 291 303 290 283 279 450
Noncurrent Note & Lease Receivables		 - - - - - - - - - - 12
Noncurrent Deferred & Refundable Income Taxes		 - - - - - - - - - - 21
Other Noncurrent Operating Assets		 356 364 359 361 279 282 305 334 345 349 379
Total Liabilities & Shareholders' Equity		 545 678 593 573 639 645 668 731 736 748 973
Total Liabilities		 147 172 131 139 156 160 166 251 251 259 321
Total Current Liabilities		 58 89 53 53 38 43 51 45 46 57 97
Short-Term Debt		 4.00 16 0.00 0.00 3.00 6.00 9.00 - - - 34
Accounts Payable		 31 46 35 39 25 25 29 27 34 36 48
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
Other Current Liabilities		 19 17 12 3.85 6.23 9.78 10 11 9.71 17 11
Total Noncurrent Liabilities		 89 83 78 85 118 117 115 206 205 202 224
Long-Term Debt		 60 48 40 40 37 34 31 126 126 126 123
Asset Retirement Reserve & Litigation Obligation		 25 29 33 40 39 42 41 41 41 39 39
Noncurrent Deferred & Payable Income Tax Liabilities		 - - - - 38 36 37 35 34 34 59
Other Noncurrent Operating Liabilities		 3.72 5.48 5.14 5.44 4.37 5.01 5.82 3.88 4.10 3.63 3.29
Total Equity & Noncontrolling Interests		 398 505 462 434 483 485 502 480 484 489 652
Total Preferred & Common Equity		 360 390 368 350 483 485 502 480 484 489 652
Total Common Equity		 360 390 368 350 483 485 502 480 484 489 652
Common Stock		 1,644 1,754 1,754 1,754 1,769 1,785 1,804 1,796 1,797 1,802 1,894
Retained Earnings		 -1,284 -1,364 -1,386 -1,404 -1,286 -1,299 -1,301 -1,316 -1,313 -1,313 -1,242
Accumulated Other Comprehensive Income / (Loss)		 - - - - - - - - - - 0.02

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
DEI Shares Outstanding		 - - - - - - 53,934,510.00 53,987,670.00 54,106,415.00 54,480,457.00 59,452,799.00
DEI Adjusted Shares Outstanding		 - - - - - - 53,934,510.00 53,987,670.00 54,106,415.00 54,480,457.00 59,452,799.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - -0.12 0.06 -0.01 0.70 0.56
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 47.78% 107.79% 18.63% 38.03% 36.05% -42.87% -13.42% -1.63% -3.28% 92.77% 107.44%
EBITDA Growth		 -565.40% -47.60% 61.64% 89.38% 128.70% 101.63% 100.74% 275.91% -13.71% 3,873.17% 3,206.59%
EBIT Growth		 -321.11% -32.72% 51.40% 78.98% 99.53% 85.39% 72.53% 126.95% 43.72% 366.34% 673.02%
NOPAT Growth		 -85.14% -37.12% 48.68% 67.57% 99.66% 72.93% 65.24% 45.52% -8,591.75% 686.86% 875.21%
Net Income Growth		 -169.14% 435.59% 44.02% 69.96% 92.67% -105.83% 69.24% 123.39% 77.80% 563.14% 632.36%
EPS Growth		 -77.27% 468.35% 54.95% 43.48% 89.74% -105.15% 70.73% 123.08% 75.00% 540.00% 491.67%
Operating Cash Flow Growth		 77.84% 166.63% 119.91% 110.61% 1,116.62% -107.52% -149.78% -86.74% -77.50% 356.11% 726.45%
Free Cash Flow Firm Growth		 82.81% 336.36% 345.02% 542.59% 1,859.57% -169.59% -162.18% -172.66% -164.28% -88.82% 75.58%
Invested Capital Growth		 -4.83% -32.97% -33.53% -36.09% -30.04% 15.25% 23.54% 34.55% 24.75% 44.39% 22.79%
Revenue Q/Q Growth		 11.66% 52.80% -29.74% 15.15% 10.06% -35.84% 6.48% 30.83% 8.21% 27.88% 14.59%
EBITDA Q/Q Growth		 46.00% -20.63% 60.15% 59.10% 246.00% -93.13% -82.00% 9,648.15% -28.38% 216.17% 72.02%
EBIT Q/Q Growth		 39.98% -9.87% 48.43% 38.21% 98.66% -3,317.49% 3.05% 160.61% -102.80% 16,271.84% 108.57%
NOPAT Q/Q Growth		 32.95% -86.30% 59.09% 36.55% 99.30% -14,895.88% 47.48% 0.55% -10.96% 1,112.51% -30.62%
Net Income Q/Q Growth		 34.41% 597.73% -114.43% 36.25% 83.99% -295.58% 23.83% 148.48% -115.20% 8,352.38% -12.45%
EPS Q/Q Growth		 15.22% 846.15% -114.09% 36.59% 84.62% -275.00% 20.00% 150.00% -116.67% 6,700.00% -28.79%
Operating Cash Flow Q/Q Growth		 93.29% 806.58% -75.91% -7.09% 542.79% -105.23% -59.41% 124.74% 991.00% -40.48% 289.92%
Free Cash Flow Firm Q/Q Growth		 77.11% 1,213.63% 42.82% 21.54% -8.98% -144.04% -180.49% -42.02% 19.48% 112.15% -275.73%
Invested Capital Q/Q Growth		 -0.46% -35.72% -0.36% 0.23% 8.97% 5.91% 98.33% 9.16% 1.03% -33.99% 68.66%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 9.78% 22.24% 14.58% 22.66% 26.42% 1.08% 28.21% 26.30% 15.47% 26.92% 42.53%
EBITDA Margin		 -79.27% -62.58% -35.50% -12.61% 16.72% 1.79% 0.30% 22.54% 14.92% 36.89% 55.38%
Operating Margin		 -75.10% -80.74% -53.32% -29.38% -0.19% -43.39% -21.40% -7.23% -16.68% 34.20% 55.70%
EBIT Margin		 -101.42% -72.93% -53.53% -28.72% -0.35% -18.66% -16.99% 7.87% -0.20% 25.78% 46.92%
Profit (Net Income) Margin		 -73.88% 240.66% -49.44% -27.37% -3.98% -24.56% -17.57% 6.51% -0.91% 59.00% 45.08%
Tax Burden Percent		 99.15% 79.38% 88.85% 84.54% 164.25% 114.96% 85.32% 157.59% 26.69% 270.40% 100.52%
Interest Burden Percent		 73.47% -415.73% 103.94% 112.72% 692.35% 114.50% 121.21% 52.49% 1,680.58% 84.65% 95.58%
Effective Tax Rate		 0.00% 20.62% 0.00% 0.00% 0.00% 0.00% 0.00% -57.59% 0.00% -170.40% -0.52%
Return on Invested Capital (ROIC)		 -23.37% -44.65% -26.98% -15.58% -0.10% -25.71% -11.87% -8.54% -8.30% 125.76% 50.29%
ROIC Less NNEP Spread (ROIC-NNEP)		 -15.97% -138.41% -25.02% -14.16% 0.83% -26.38% -11.52% -11.75% -10.38% 131.53% 52.96%
Return on Net Nonoperating Assets (RNNOA)		 4.25% 61.49% 12.92% 6.83% -0.38% 15.48% 6.42% 6.31% 5.47% -94.83% -28.38%
Return on Equity (ROE)		 -19.12% 16.84% -14.06% -8.75% -0.49% -10.24% -5.45% -2.23% -2.83% 30.93% 21.91%
Cash Return on Invested Capital (CROIC)		 -30.31% 5.87% 4.39% 11.30% 10.17% -31.35% -32.96% -37.47% -32.19% -27.28% 10.14%
Operating Return on Assets (OROA)		 -24.64% -20.44% -14.05% -8.62% -0.11% -4.92% -4.19% 1.92% -0.05% 6.86% 13.00%
Return on Assets (ROA)		 -17.95% 67.47% -12.97% -8.21% -1.28% -6.48% -4.33% 1.59% -0.22% 15.70% 12.49%
Return on Common Equity (ROCE)		 -16.31% 16.18% -12.42% -7.88% -0.44% -10.24% -5.45% -2.23% -2.83% 30.93% 21.91%
Return on Equity Simple (ROE_SIMPLE)		 -42.90% 0.00% 10.20% 16.38% 21.06% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -20 -38 -15 -9.76 -0.07 -10 -5.35 -5.32 -5.90 60 41
NOPAT Margin		 -52.57% -64.09% -37.32% -20.56% -0.13% -30.37% -14.98% -11.39% -11.68% 92.47% 55.99%
Net Nonoperating Expense Percent (NNEP)		 -7.40% 93.76% -1.96% -1.42% -0.94% 0.67% -0.34% 3.21% 2.08% -5.76% -2.66%
Return On Investment Capital (ROIC_SIMPLE)		 -4.26% -6.93% -2.94% -1.86% -0.01% -1.90% -0.88% -0.87% -0.96% 8.89% 5.12%
Cost of Revenue to Revenue		 90.22% 77.76% 85.42% 77.34% 73.58% 98.92% 71.79% 73.70% 84.53% 73.08% 57.47%
SG&A Expenses to Revenue		 9.69% 10.63% 9.88% 9.40% 4.09% 19.37% 9.44% 10.81% 12.01% 18.90% 12.78%
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		 84.87% 102.98% 67.90% 52.04% 26.60% 44.47% 49.61% 33.52% 32.15% -7.28% -13.16%
Earnings before Interest and Taxes (EBIT)		 -39 -43 -22 -14 -0.18 -6.25 -6.06 3.68 -0.10 17 35
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -30 -37 -15 -5.99 8.74 0.60 0.11 11 7.54 24 41
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.88 0.68 1.01 0.00 0.95 0.83 0.85 1.07 1.89 1.85 1.86
Price to Tangible Book Value (P/TBV)		 0.88 0.68 1.01 0.00 0.95 0.83 0.85 1.07 1.89 1.85 1.86
Price to Revenue (P/Rev)		 2.27 2.06 2.82 0.00 2.38 2.36 2.41 3.09 5.56 5.10 5.15
Price to Earnings (P/E)		 0.00 6.19 6.25 0.00 4.61 0.00 0.00 0.00 0.00 29.29 16.39
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		 0.00% 16.15% 16.00% 0.00% 21.68% 0.00% 0.00% 0.00% 0.00% 3.41% 6.10%
Enterprise Value to Invested Capital (EV/IC)		 0.86 0.16 1.03 0.00 0.87 0.62 0.69 1.13 2.68 3.69 2.94
Enterprise Value to Revenue (EV/Rev)		 1.89 0.19 1.13 0.00 0.91 0.79 0.97 1.73 4.19 3.21 3.61
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 47.13 14.60 37.10 17.10 10.73
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 44.74 15.49
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 48.21 10.60
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 3.88 4.67 6.90 14.22 273.30 92.33 40.74
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 2.25 18.65 0.00 7.05 0.00 0.00 0.00 0.00 0.00 31.97
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.09 0.08 0.08 0.08 0.08 0.08 0.26 0.26 0.26 0.23 0.24
Long-Term Debt to Equity		 0.09 0.08 0.08 0.07 0.06 0.08 0.26 0.26 0.26 0.23 0.19
Financial Leverage		 -0.27 -0.44 -0.52 -0.48 -0.46 -0.59 -0.56 -0.54 -0.53 -0.72 -0.54
Leverage Ratio		 1.34 1.38 1.33 1.31 1.33 1.33 1.42 1.42 1.43 1.43 1.50
Compound Leverage Factor		 0.99 -5.74 1.39 1.47 9.18 1.52 1.72 0.75 24.01 1.21 1.44
Debt to Total Capital		 8.44% 7.37% 7.66% 7.62% 7.38% 7.48% 20.74% 20.61% 20.50% 18.76% 19.47%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.57% 1.14% 1.66% 0.00% 0.00% 0.00% 0.00% 0.00% 4.23%
Long-Term Debt to Total Capital		 8.44% 7.37% 7.08% 6.47% 5.72% 7.48% 20.74% 20.61% 20.50% 18.76% 15.24%
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		 17.73% 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		 73.83% 92.63% 92.34% 92.38% 92.62% 92.52% 79.26% 79.39% 79.50% 81.24% 80.53%
Debt to EBITDA		 -0.27 -0.25 -0.29 -0.46 -0.82 -3.55 36.27 6.30 6.71 3.40 1.99
Net Debt to EBITDA		 0.91 1.92 2.11 3.35 6.04 24.31 -70.53 -11.37 -12.17 -10.11 -4.57
Long-Term Debt to EBITDA		 -0.27 -0.25 -0.27 -0.39 -0.64 -3.55 36.27 6.30 6.71 3.40 1.55
Debt to NOPAT		 -0.37 -0.50 -0.47 -0.50 -0.63 -1.13 -4.95 -7.00 -5.29 9.60 1.96
Net Debt to NOPAT		 1.26 3.88 3.40 3.66 4.61 7.75 9.62 12.65 9.61 -28.49 -4.51
Long-Term Debt to NOPAT		 -0.37 -0.50 -0.43 -0.42 -0.49 -1.13 -4.95 -7.00 -5.29 9.60 1.54
Altman Z-Score		 -1.93 -1.29 -0.76 0.00 -0.69 -1.08 -1.24 -0.91 0.01 0.40 0.86
Noncontrolling Interest Sharing Ratio		 14.69% 3.90% 11.70% 9.92% 8.98% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.35 1.76 1.37 1.68 1.17 0.86 2.35 2.35 2.10 1.69 1.14
Quick Ratio		 1.68 0.90 0.69 1.06 0.59 0.33 1.77 1.67 1.47 1.18 0.74
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -5.08 57 81 98 89 -39 -50 -71 -57 6.99 -12
Operating Cash Flow to CapEx		 -24.47% 205.96% 85.82% 53.95% 121.10% -9.51% -13.29% 4.95% 48.16% 32.24% 89.40%
Free Cash Flow to Firm to Interest Expense		 0.00 38.93 92.93 56.67 82.51 -43.43 -39.09 -40.89 -35.31 2.73 -7.99
Operating Cash Flow to Interest Expense		 0.00 11.08 4.46 2.08 21.38 -1.34 -1.50 0.27 3.20 1.21 7.87
Operating Cash Flow Less CapEx to Interest Expense		 0.00 5.70 -0.74 -1.78 3.73 -15.39 -12.80 -5.25 -3.45 -2.55 -0.93
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.24 0.28 0.26 0.30 0.32 0.26 0.25 0.24 0.24 0.27 0.28
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 131.09 88.97 32.37 0.00 114.36 158.43
Inventory Turnover		 4.58 5.75 7.06 6.91 6.36 7.54 6.60 5.97 5.28 6.67 6.41
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		 3.79 4.56 4.33 5.08 4.61 5.62 5.18 4.49 4.18 4.09 4.47
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 2.78 4.10 11.28 0.00 3.19 2.30
Days Inventory Outstanding (DIO)		 79.64 63.53 51.68 52.81 57.43 48.38 55.33 61.17 69.08 54.69 56.96
Days Payable Outstanding (DPO)		 96.32 80.13 84.36 71.80 79.13 64.97 70.49 81.35 87.35 89.26 81.71
Cash Conversion Cycle (CCC)		 -16.68 -16.59 -32.67 -18.99 -21.70 -13.81 -11.06 -8.91 -18.27 -31.38 -22.44
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 298 192 191 191 208 221 236 257 260 172 289
Invested Capital Turnover		 0.44 0.70 0.72 0.76 0.79 0.85 0.79 0.75 0.71 1.36 0.90
Increase / (Decrease) in Invested Capital		 -15 -94 -96 -108 -90 29 45 66 52 53 54
Enterprise Value (EV)		 257 32 196 0.00 181 137 163 292 697 634 852
Market Capitalization		 309 342 487 0.00 475 412 407 519 925 1,008 1,214
Book Value per Share		 $7.37 $10.58 $9.76 $9.76 $9.83 $9.35 $8.90 $8.98 $9.03 $10.03 $10.97
Tangible Book Value per Share		 $7.37 $10.58 $9.76 $9.76 $9.83 $9.35 $8.90 $8.98 $9.03 $10.03 $10.97
Total Capital		 474 542 523 525 542 535 605 610 615 672 810
Total Debt		 40 40 40 40 40 40 126 126 126 126 158
Total Long-Term Debt		 40 40 37 34 31 40 126 126 126 126 123
Net Debt		 -136 -311 -292 -294 -294 -274 -244 -227 -229 -375 -362
Capital Expenditures (CapEx)		 9.32 7.82 4.52 6.68 19 13 15 9.65 11 9.63 14
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -18 -2.11 -6.45 -7.49 -13 -22 -18 -7.70 -13 -28 -23
Debt-free Net Working Capital (DFNWC)		 72 23 17 35 18 -6.50 61 62 63 44 47
Net Working Capital (NWC)		 72 23 14 29 8.64 -6.50 61 62 63 44 13
Net Nonoperating Expense (NNE)		 8.19 -179 5.00 3.23 2.01 -1.95 0.92 -8.36 -5.44 22 8.08
Net Nonoperating Obligations (NNO)		 -136 -311 -292 -294 -294 -274 -244 -227 -229 -375 -362
Total Depreciation and Amortization (D&A)		 8.51 6.07 7.44 7.65 8.92 6.85 6.17 6.85 7.64 7.18 6.27
Debt-free, Cash-free Net Working Capital to Revenue		 -12.98% -1.27% -3.73% -4.03% -6.31% -12.50% -10.72% -4.58% -7.70% -14.20% -9.62%
Debt-free Net Working Capital to Revenue		 53.26% 13.63% 9.91% 18.91% 8.83% -3.73% 36.19% 36.76% 37.61% 22.31% 20.09%
Net Working Capital to Revenue		 53.26% 13.63% 8.17% 15.68% 4.33% -3.73% 36.19% 36.76% 37.61% 22.31% 5.58%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.39) $2.91 ($0.41) ($0.26) ($0.04) ($0.15) ($0.12) $0.06 ($0.01) $0.71 $0.56
Adjusted Weighted Average Basic Shares Outstanding		 47.47M 47.54M 49.44M 49.72M 51.95M 51.02M 53.27M 53.97M 54.17M 54.05M 58.86M
Adjusted Diluted Earnings per Share		 ($0.39) $2.91 ($0.41) ($0.26) ($0.04) ($0.15) ($0.12) $0.06 ($0.01) $0.66 $0.47
Adjusted Weighted Average Diluted Shares Outstanding		 47.47M 47.54M 49.44M 49.72M 51.95M 51.02M 53.27M 54.02M 54.17M 65.56M 72.43M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $2.91 $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		 47.49M 49.44M 49.44M 51.09M 52.92M 53.93M 53.99M 54.11M 54.48M 59.45M 59.74M
Normalized Net Operating Profit after Tax (NOPAT)		 -20 -38 -15 -9.76 -0.07 -10 -5.35 -2.36 -5.90 15 29
Normalized NOPAT Margin		 -52.57% -64.09% -37.32% -20.56% -0.13% -30.37% -14.98% -5.06% -11.68% 23.94% 38.99%
Pre Tax Income Margin		 -74.52% 303.19% -55.64% -32.38% -2.42% -21.36% -20.59% 4.13% -3.43% 21.82% 44.84%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 -29.43 -25.37 -7.86 -0.17 -6.90 -4.71 2.10 -0.06 6.51 22.60
NOPAT to Interest Expense		 0.00 -25.87 -17.69 -5.63 -0.06 -11.23 -4.16 -3.05 -3.63 23.37 26.97
EBIT Less CapEx to Interest Expense		 0.00 -34.81 -30.57 -11.72 -17.83 -20.95 -16.02 -3.42 -6.72 2.75 13.80
NOPAT Less CapEx to Interest Expense		 0.00 -31.25 -22.88 -9.48 -17.72 -25.28 -15.46 -8.57 -10.28 19.60 18.17
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 Inc. (MUX) has shown a mix of improving revenue strength in 2025 alongside notable quarterly profitability swings. The latest quarter (Q4 2025) marks a clear step toward positive earnings and cash flow, backed by a solid balance sheet structure with a sizable equity base and a substantial asset footprint. Investors should note that while profitability has grown stronger in the latest quarter, quarterly results have historically swung between profits and losses, and cash flow can be uneven due to investing and financing activities.

  • Revenue trend in 2025 shows momentum: Q1 2025 revenue 35.7m, Q2 2025 46.7m, Q3 2025 50.5m, rising to Q4 2025 at 64.6m.
  • Q4 2025 net income from continuing operations 38.13m with basic EPS of 0.71 and diluted EPS of 0.66, signaling meaningful quarterly profitability.
  • Q4 2025 cash flow from continuing operating activities (net) is positive at 3.10m, indicating improving cash generation from core operations.
  • Financing activities provided liquidity in 2025, including a notable inflow in Q1 2025 (Net cash from financing activities around 70.5m in Q1 2025), enhancing near-term liquidity.
  • Balance sheet shows a solid equity base: Total equity around 488.6m as of Q3 2025, supporting a conservative liabilities stance.
  • Asset base remains substantial: Long-term investments ~279.1m and Total Assets ~747.6m (Q3 2025), indicating a sizable noncurrent asset footprint that can support growth initiatives.
  • Cash balances have fluctuated in 2025 (Q1 2025: ~68.5m; Q2 2025: ~53.6m; Q3 2025: ~51.2m), suggesting liquidity variability across quarters.
  • Earnings per share (EPS) swing is evident: Q4 2025 basic EPS 0.71 vs Q3 2025 basic EPS -0.01, highlighting ongoing quarterly volatility in profitability.
  • Quarterly net income remains volatile: Q3 2025 net income continuing operations around -0.46m and other quarters showing negative results, underscoring earnings sensitivity to quarterly factors.
  • Significant one-off or operating-cost pressures in some quarters: Other Operating Expenses (e.g., Q4 2025 about 23.4m) reduce quarterly margins and contribute to earnings variability.

Overall, 2025 shows a shift toward stronger quarterly profitability and positive operating cash flow in the latest quarter, underpinned by a robust equity base and a sizable asset base. However, investors should remain mindful of the quarterly earnings volatility and the impact of large operating costs on margins. Monitoring upcoming quarters will help confirm whether the 2025 momentum persists and translates into more consistent cash generation.

05/22/26 07:32 AM ETAI Generated. May Contain Errors.

McEwen Financials - Frequently Asked Questions

According to the most recent income statement we have on file, McEwen's fiscal year ends in December. Their fiscal 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%. Check out McEwen's forecast to explore projected trends and price targets.

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 5/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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