McEwen Mining (MUX) financial statements
McEwen Mining reported revenue of $198M in fiscal 2025, up 14.1% a year over 9 years.
Net income was $34M and the operating margin 1.3%, against 25.4% in 2016.
The diluted share count rose 118% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from McEwen Mining's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $60M | $67M | $128M | $117M | $105M | $137M | $110M | $166M | $174M | $198M |
| Cost of revenue | $28M | $45M | — | — | — | — | $91M | $119M | $113M | $123M |
| Gross profit | $32M | $20M | $32M | $9M | -$27M | -$6M | -$544,000 | $18M | $31M | $48M |
| Selling, general and admin | $13M | $12M | $11M | $13M | $9M | $11M | $12M | $15M | $17M | $27M |
| Operating income | $15M | -$26M | -$47M | -$64M | -$153M | -$64M | -$95M | -$162M | -$51M | $3M |
| Interest expense | — | — | $2M | — | — | — | $6M | $6M | $3M | — |
| Pre-tax income | $17M | -$26M | -$48M | -$64M | -$154M | -$64M | -$80M | $67M | -$47M | $7M |
| Income tax | -$4M | -$15M | -$3M | -$4M | -$1M | -$7M | $6M | $34M | -$3M | -$27M |
| Net income | $21M | -$11M | -$45M | -$60M | -$152M | -$57M | -$81M | $55M | -$44M | $34M |
| EPS (diluted) | $0.70 | -$0.30 | -$1.30 | -$1.70 | -$3.78 | -$1.25 | -$1.71 | $1.16 | -$0.86 | $0.59 |
| Diluted shares | 30M | 31M | 34M | 36M | 40M | 45M | 47M | 48M | 51M | 66M |
| Gross margin | 53.4% | 29.8% | 25.0% | 7.7% | -25.7% | -4.7% | -0.5% | 10.7% | 17.7% | 24.1% |
| Operating margin | 25.4% | -39.0% | -36.8% | -54.6% | -146.2% | -47.1% | -86.4% | -97.5% | -29.0% | 1.3% |
| Net margin | 34.9% | -15.8% | -35.0% | -51.1% | -145.4% | -41.5% | -73.4% | 33.3% | -25.0% | 17.4% |
Balance sheet
Fiscal years, from McEwen Mining's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $37M | $27M | $16M | $46M | $21M | $54M | $40M | $25M | $15M | $72M |
| Receivables | — | — | — | — | — | — | — | — | — | $9M |
| Inventory | $27M | $32M | $22M | $38M | $27M | $16M | $32M | $20M | $18M | $27M |
| Total current assets | $79M | $87M | $59M | $92M | $53M | $85M | $82M | $53M | $41M | $108M |
| Property, plant and equipment | $14M | $51M | $424M | $108M | $49M | — | — | — | — | — |
| Total assets | $498M | $592M | $617M | $631M | $500M | $525M | $529M | $657M | $665M | $820M |
| Total current liabilities | $21M | $38M | $36M | $49M | $46M | $52M | $84M | $30M | $48M | $64M |
| Long-term debt | — | — | — | — | $48M | $49M | $64M | $40M | $40M | $126M |
| Total liabilities | $55M | $71M | $131M | $132M | $135M | $135M | $172M | $155M | $170M | $274M |
| Shareholders' equity | $443M | $521M | $486M | $499M | $365M | $390M | $356M | $502M | $495M | $546M |
| Net debt | -$37M | -$27M | -$16M | -$46M | $27M | -$5M | $34M | $17M | $26M | $75M |
Cash flow
Fiscal years, from McEwen Mining's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $7M | -$28M | $487,000 | -$40M | -$28M | -$20M | -$57M | -$40M | $29M | $7M |
| Capital spending | $1M | $5M | $62M | — | — | — | — | — | — | — |
| Free cash flow | $6M | -$33M | -$62M | — | — | — | — | — | — | — |
| Stock-based compensation | $1M | $1M | $300,000 | $700,000 | $600,000 | $800,000 | $300,000 | $300,000 | $900,000 | $1M |
| Share buybacks (net) | -$582,000 | — | — | — | — | — | — | — | — | — |
| Net borrowing | — | — | — | — | — | — | — | -$25M | — | -$20M |
| Free cash flow margin | 10.4% | -48.5% | -48.3% | — | — | — | — | — | — | — |
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What was McEwen Mining's revenue in 2025?
$198M in fiscal 2025, from its 10-K filing.
From McEwen Mining's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.