First Majestic Silver Corp. (AG) is a publicly traded company in the Basic Materials — Silver industry listed on NYSE. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
First Majestic Silver Corp. is a North American mining company dedicated to the exploration, acquisition, development, and operation of mineral properties, primarily concentrating on silver and gold output. The company fully owns and operates a portfolio of significant mining assets.
Is First Majestic Silver Corp. stock overvalued or undervalued in 2026?
First Majestic Silver Corp. (AG) trades at 20.5× earnings (P/E), against a median of 18.8× across the 156 materials companies above $2bn in Kaplio's universe. No valuation verdict: it is a cyclical and today's P/E (20.5) does not tell whether it is cheap.
Kaplio overview: First Majestic Silver Corp.
Market cap $7B · 52 weeks $11 – $32 (55 % below the high) · P/E 20.5× · 2027 expected P/E 14.6× · Dividend 0.35 % · Next earnings November 5, 2026 · expected EPS $0.19 · Closing price, Oct 30 · accounts published Jul 30.
- Valuation: P/E 20.5× (no verdict).
- Business: ROIC 9 % (fair).
- Balance sheet: Net cash/EBITDA 0.7× (solid).
- Earnings: 1 of 8 (disappointing).
What would it be worth at its usual multiples?
No valuation verdict: it is a cyclical and today's P/E (20.5) does not tell whether it is cheap.
In cyclicals the P/E misleads: today's earnings are not the normal ones.
What matters in materials: 6 of 8 pass
- P/B across cycles 2.4×, fails.
- Capex / D&A 0.8×, borderline.
- FCF yield 12.4 %, passes.
- Gross margin 34.8 %, passes.
- Net debt / EBITDA (trough) −0.7×, passes.
- Dividend coverage 35.1×, passes.
- Altman Z-Score 3.7, passes.
- Cycle-adjusted EV/EBITDA 6.1×, passes.
Against its peers (reference peers) — First Majestic Silver Corp.: P/E 20.5×; EV/EBITDA 6.1×; ROIC 8.9 %; $7.0B. Endeavour Silver Corp. (P/E 38.4×; EV/EBITDA 10.1×; ROIC 11.4 %; $2.1B), Hecla Mining Company (P/E 27.6×; EV/EBITDA 10.3×; ROIC 18.3 %; $9.1B), Coeur Mining, Inc. (P/E 10.6×; EV/EBITDA 8.9×; ROIC 6.0 %; $13.6B).
Dividend
token · Yield 0.35 % ($0.02 per ADS in 2025) · Years raising it 1 · paying since 2021 · Free cash flow coverage 9.0× · With $1,000 invested today you'd collect $3.50 a year ($0.29 a month).
Profitability
| Return on Equity | 12.37% |
| Return on Invested Capital | 8.95% |
| Return on Assets | 7.03% |
| Gross Margin | 52.57% |
| Operating Margin | 43.97% |
| Net Margin | 21.12% |
Financial Health
| Debt / Equity | 0.11 |
| Current Ratio | 2.57 |
| Piotroski F-Score | 8 |
| Altman Z-Score | 3.70 |
Price Performance
| 1 month | -19.25% |
| 3 months | -5.12% |
| Year-to-date | -14.41% |
| 1 year | +11.67% |
| 3 years | +174.76% |
| 5 years | +10.46% |
| 10 years | +63.16% |
Dividend History
Paid in the last 12 months: $0.0458 per share in 4 payments.
| Date | Amount |
|---|---|
| 2026-08-14 | $0.0152 |
| 2026-05-20 | $0.0171 |
| 2026-02-27 | $0.0083 |
| 2025-11-14 | $0.0052 |
| 2025-08-29 | $0.0048 |
| 2025-05-16 | $0.0045 |
| 2025-02-28 | $0.0057 |
| 2024-11-15 | $0.0048 |
| 2024-08-16 | $0.0046 |
| 2024-05-16 | $0.0037 |
Amounts adjusted for stock splits.
Related companies: PAAS · HL · CDE · FSM · EXK
Explore sector: Basic Materials · Silver
More sections of AG: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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