First Majestic Silver - Public Comps and Valuation Multiples

First Majestic Silver Overview

About First Majestic Silver

First Majestic Silver Corp is engaged in the production, development, exploration, and acquisition of mineral properties with a focus on silver and gold production in North America. It owns three producing mines in Mexico consisting of the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, and the La Encantada Silver Mine.

Founded

1998

HQ

Employees

5.2K+

Website

firstmajestic.com

Sectors

Metals & Mining

Financials

LTM Revenue $905M

LTM EBITDA $388M

EV

$4.9B

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First Majestic Silver Financials

As of August 2025, First Majestic Silver reported last 12-month revenue of $905M and EBITDA of $388M.

In the same period, First Majestic Silver generated $432M in LTM gross profit and $40.6M in net income.

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First Majestic Silver P&L

In the most recent fiscal year, First Majestic Silver reported revenue of $564M and EBITDA of $114M.

First Majestic Silver expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$905M	XXX	$564M	XXX	XXX	XXX
Gross Profit	$432M	XXX	$91.9M	XXX	XXX	XXX
Gross Margin	48%	XXX	16%	XXX	XXX	XXX
EBITDA	$388M	XXX	$114M	XXX	XXX	XXX
EBITDA Margin	43%	XXX	20%	XXX	XXX	XXX
EBIT	n/a	XXX	$5.5M	XXX	XXX	XXX
EBIT Margin	n/a	XXX	1%	XXX	XXX	XXX
Net Profit	$40.6M	XXX	-$102M	XXX	XXX	XXX
Net Margin	4%	XXX	-18%	XXX	XXX	XXX
Net Debt	XXX	XXX	$6.9M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for First Majestic Silver including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $905M. EBITDA for the last twelve months was $388M. In the most recent fiscal year, First Majestic Silver achieved $564M in revenue and $114M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$905M	Analyst estimates available to subscribers	$564M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$432M	Analyst estimates available to subscribers	$91.9M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	47.7% gross margin	Analyst estimates available to subscribers	16.3% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$388M	Analyst estimates available to subscribers	$114M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	42.8% EBITDA margin	Analyst estimates available to subscribers	20.3% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	n/a	Analyst estimates available to subscribers	$5.5M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	n/a	Analyst estimates available to subscribers	1.0% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$40.6M	Analyst estimates available to subscribers	-$102M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	4.5% net profit margin	Analyst estimates available to subscribers	-18.1% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$6.9M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for First Majestic Silver

This financial data table provides comprehensive performance metrics for First Majestic Silver, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

First Majestic Silver generated $905M in revenue over the last twelve months.
The company achieved $388M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $432M.
Net income over the last twelve months reached $40.6M.

Fiscal Year Performance

In the most recent fiscal year, First Majestic Silver reported $564M in total revenue.
Fiscal year EBITDA was $114M.
The company maintained a gross profit margin of 16.3% in the most recent fiscal year.
EBITDA margin for the fiscal year was 20.3%.
Net profit margin reached -18.1% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for First Majestic Silver. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

First Majestic Silver Stock Performance

First Majestic Silver has current market cap of $5.2B, and EV of $4.9B.

Market Cap Evolution

First Majestic Silver Stock Data

As of September 12, 2025, First Majestic Silver's stock price is $11.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$4.9B	$5.2B	XXX	XXX	XXX	XXX	$0.07

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First Majestic Silver Valuation Multiples

First Majestic Silver's trades at 8.7x EV/Revenue multiple, and 43.0x EV/EBITDA.

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First Majestic Silver Financial Valuation Multiples

As of September 12, 2025, First Majestic Silver has market cap of $5.2B and EV of $4.9B.

Equity research analysts estimate First Majestic Silver's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

First Majestic Silver has a P/E ratio of 127.0x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$5.2B	XXX	$5.2B	XXX	XXX	XXX
EV (current)	$4.9B	XXX	$4.9B	XXX	XXX	XXX
EV/Revenue	5.4x	XXX	8.7x	XXX	XXX	XXX
EV/EBITDA	12.7x	XXX	43.0x	XXX	XXX	XXX
EV/EBIT	n/a	XXX	888.5x	XXX	XXX	XXX
EV/Gross Profit	11.4x	XXX	n/a	XXX	XXX	XXX
P/E	127.0x	XXX	-50.6x	XXX	XXX	XXX
EV/FCF	31.6x	XXX	133.5x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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First Majestic Silver Margins & Growth Rates

First Majestic Silver's last 12 month revenue growth is 16%

First Majestic Silver's revenue per employee in the last FY averaged $0.1M, while opex per employee averaged $17K for the same period.

First Majestic Silver's rule of 40 is 6% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

First Majestic Silver's rule of X is 83% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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First Majestic Silver Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	16%	XXX	36%	XXX	XXX	XXX
EBITDA Margin	43%	XXX	20%	XXX	XXX	XXX
EBITDA Growth	39%	XXX	n/a	XXX	XXX	XXX
Rule of 40	6%	XXX	36%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	83%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$17K	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	15%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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