Fortuna Silver Mines (FSM) revenue breakdown
By segment, Cuzcatlan Reporting Segment is the largest at 68% of fiscal 2020 revenue, growing 2% a year over 3 years.
By product, Gold dor is the largest at 87% of fiscal 2025 revenue, growing 110% a year over 5 years.
Revenue by segment
Fiscal years, as Fortuna Silver Mines reports them in its 10-K filings; fiscal 2020 total $279M.
| Segments | 2017 | 2018 | 2019 | 2020 | Share |
|---|---|---|---|---|---|
| Cuzcatlan Reporting Segment | $180M | $176M | $184M | $191M | 68% |
| Bateas Reporting Segment | $88M | $87M | $73M | $68M | 24% |
| Mansfield Reporting | — | — | — | $20M | 7% |
Revenue by product
Fiscal years, as Fortuna Silver Mines reports them in its 10-K filings; fiscal 2025 total $947M.
| Products | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|
| Gold dor | — | — | — | $20M | $280M | $406M | $591M | $562M | $820M | 87% |
| Silver-lead concentrates | $42M | $40M | $40M | $43M | $60M | $50M | $61M | $64M | $81M | 9% |
| Zinc concentrates | $45M | $49M | $34M | $24M | $43M | $53M | $43M | $49M | $42M | 4% |
| Provisional pricing adjustments | — | -$6M | $368,000 | $3M | -$3M | -$1M | -$722,000 | $1M | $4M | 0% |
| Silver-gold concentrates | $180M | $180M | $183M | $188M | $220M | $174M | $149M | — | — | — |
Revenue by region
Fiscal years, as Fortuna Silver Mines reports them in its 10-K filings; fiscal 2025 total $947M.
| Regions | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|
| Cte d'Ivoire | — | — | — | — | — | — | $154M | $330M | $526M | 56% |
| Argentina | — | — | — | $20M | $179M | $212M | $208M | $232M | $294M | 31% |
| Peru | $88M | $87M | $73M | $68M | $104M | $102M | $102M | $115M | $127M | 13% |
| Burkina Faso | — | — | — | — | $101M | $194M | $229M | — | — | — |
| Mexico | $180M | $176M | $184M | $191M | $216M | $174M | $150M | — | — | — |
Questions
Where does Fortuna Silver Mines make its money?
In fiscal 2020, by segment: Cuzcatlan Reporting Segment $191M, Bateas Reporting Segment $68M, Mansfield Reporting $20M.
From Fortuna Silver Mines's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.