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McEwen Inc.

MUX Basic Materials Other Precious Metals & Mining

McEwen Inc.’s revenue for fiscal 2025 (year ended December 2025) was $197.6 million, up 13.2% from fiscal 2024.

Revenue
+26.8%
EPS
+166.7%
Free cash flow
+328.1%
Total debt
+0.64%

Quarter to June 2026, against a year earlier

14.95 0.02 +0.13%
Market cap
$912.4M
P/E
10.9×
Fwd P/E
15.1×
Dividend yield
—
F-score
6/9
Altman Z
0.33
Beneish M
−2.64
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.02
Sold, $m 0.06
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — 1 — — — — —
Sell — — — — — — 1 — — — — —
Insider Ownership 14.55%

Capital & Financial Ratios $m

Size
Market Cap 912.40
Revenue ttm 248.44
Net income ttm 80.65
Free cash flow ttm 6.34
Net debt Q 34.86
Valuation
P/E 10.91
Forward P/E 15.10
Price / sales 3.61
Forward P/S Powerpack
Price / FCF 141.52
Price / book 1.27
Financial health
Current ratio Q 2.04 (at or above 1.5: strong)
Debt / equity Q 0.18 (at or below 0.5: strong)
Interest coverage Q 4.19
Growth
Revenue growth Q +26.84% (above 0%: growing)
Operating income growth Q +328.30% (above 0%: growing)
EPS, this year +71.89% (at or above 15%: strong)
EPS, next year A +103.77% (at or above 15%: strong)
Revenue, next year A +27.21% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +64.24% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.8×, against a ten-year median of 4.5×; over the ten years it ranged from 1.3× in 2022 to 18.7× in 2017.
P/S against its own 10 years 39.02%
10-year low 10-year high
P/B against its own 10 years 58.31%
10-year low 10-year high
EV/Sales against its own 10 years 38.28%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—
Growth, 2016–22
−100.0%/yr
  1. 0.10 ’16
  2. 0.10 ’17 +0
  3. 0.10 ’18 +0
  4. 0.05 ’19 −50
  5. 0.00 ’20 −100
  6. 0.00 ’21
  7. 0.00 ’22
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 25 15 72 92
Receivables 8 8 9 11
Inventory 20 18 27 27
Other — — — —
53 41 108 130
2023 2024 2025 Q'26
Payables 23 28 45 41
ST’ Debt — — — 6
Other 5 14 15 15
30 48 64 64

Compound Annual Growth %

10y 5y 3y
Sales 10.47% 13.52% 21.40%
Cash Flow (7.88%) 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 2.70% 8.38% 15.31%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.25 Actual 0.14

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.31 −0.01 Miss by 0.32
Q4 FY25 0.25 0.66 Beat by 0.41
Q1 FY26 0.32 0.47 Beat by 0.15
Q2 FY26 0.25 0.14 Miss by 0.11
Q3 FY26 0.09 — Reports 9 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.47 0.14 — — —
’25 (0.12) 0.06 (0.01) 0.57 0.59
’24 (0.41) (0.26) (0.04) (0.15) (0.86)
’23 (0.91) (0.46) (0.39) 2.90 1.15
’22 (0.40) (0.26) (0.21) (0.79) (1.71)
’21 (0.30) (0.10) (0.40) (0.50) (1.20)
’20 (2.50) (0.50) (0.20) (0.60) (3.80)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 74 59 — — —
’25 36 47 51 65 198
’24 41 47 52 34 174
’23 35 34 38 59 166
’22 26 31 26 28 110
’21 24 41 37 35 137
’20 31 18 27 28 105
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 12 46 — — —
’25 (2) 0 5 3 7
’24 4 4 23 (1) 29
’23 (19) (34) (2) 16 (40)
’22 (16) (37) (10) 6 (57)
’21 (10) 2 (11) (1) (20)
’20 (12) (8) (5) (3) (28)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (2) 21 — — —
’25 (16) (9) (6) (7) (38)
’24 (1) (3) 4 (14) (14)
’23 (24) (38) (12) 8 (66)
’22 (20) (41) (19) (1) (81)
’21 (20) (8) (19) (7) (54)
’20 (17) (11) (6) (7) (41)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 60 67 128 117 105 137 110 166 174 198 248 +14.1% 251 354 251 +8.4%
Gross margin, % 53.41 29.76 25.03 7.68 (25.72) (4.75) (0.49) 10.70 17.73 24.08 30.91 (29.3) pt
EBT 17 (26) (48) (64) (154) (64) (80) 67 (47) 7 51 (9.6%)
EBT margin, % 28.66 (38.54) (37.17) (54.34) (146.69) (47.02) (72.71) 40.33 (26.79) 3.52 20.67 (25.1) pt
Net income 21 (11) (45) (60) (152) (57) (86) 33 (44) 34 81 +5.6%
Per share, $
Per share, $ Revenue 2.02 2.15 3.80 3.23 2.60 3.00 2.33 3.50 3.42 3.66 4.14 +6.8%
Earnings 0.70 (0.30) (1.30) (1.70) (3.80) (1.20) (1.71) 1.15 (0.86) 0.64 1.37 (1.0%)
Cash flow 0.25 (0.88) 0.01 (1.09) (0.69) (0.44) (1.19) (0.83) 0.58 0.13 1.11 (7.2%)
Capex (0.21) (0.27) (2.41) (0.82) (0.33) (0.76) (0.51) (0.55) (0.84) (0.83) (1.01) +16.7%
Free cash flow 0.04 (1.15) (2.39) (1.91) (1.02) (1.20) (1.70) (1.38) (0.27) (0.70) 0.11 n/m
Book value 14.83 16.61 14.41 13.80 9.05 8.57 7.51 10.57 9.70 10.11 11.78 (4.2%)
Shares, m 30 31 34 36 40 45 47 48 51 54 57 +6.8%
Valuation, ×
Valuation, × P/E 47.00 0.00 0.00 0.00 0.00 0.00 0.00 6.20 0.00 31.37 10.91 8.5
P/S 16.03 11.45 4.79 3.93 3.79 3.07 2.65 2.02 2.28 5.06 3.61 5.5
P/B 2.19 1.48 1.26 0.92 1.09 1.07 0.82 0.67 0.80 1.83 1.27 1.2
EV/Sales 15.32 10.83 4.94 3.94 4.08 3.03 2.85 2.12 2.47 5.38 3.75 5.5
EV/FCF 721.30 (20.19) (7.84) (6.65) (10.36) (7.61) (3.90) (5.36) (31.57) (28.15) 147.02 60.0
Cash, $m
Cash, $m Operating cash flow 7 (28) 0 (40) (28) (20) (57) (40) 29 7 67 (0.9%)
Capex (6) (9) (81) (30) (13) (34) (24) (26) (43) (45) (60) +24.6%
Free cash flow 1 (36) (81) (69) (41) (54) (81) (66) (14) (38) 6 n/m
Balance, $m
Balance, $m Working capital 58 49 23 43 8 33 (3) 23 (7) 44 66 (3.0%)
Net debt (46) (45) 17 1 30 (4) 23 15 25 54 35 n/m
Shareholders’ equity 443 521 486 499 365 390 356 502 495 546 707 +2.4%
Returns, %
Returns, % ROA 4.33 (1.95) (7.42) (9.57) (26.93) (11.06) (15.38) 9.33 (6.61) 4.64 9.34 +0.3 pt
ROIC 2.42 (3.45) (5.86) (7.98) (24.23) (10.41) (15.73) (19.57) (6.08) 0.28 5.28 (2.1) pt
ROE 4.89 (2.21) (8.91) (12.13) (35.23) (15.02) (21.73) 12.88 (8.76) 6.61 13.54 +1.7 pt
People
People Employees 293 535 427 448 377 430 520 575 424 486 — +5.8%
Revenue/emp, $m 0.21 0.13 0.30 0.26 0.28 0.32 0.21 0.29 0.41 0.41 — +7.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 25 Oct 2026

McEwen Inc. vs peers in Other Precious Metals & Mining (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
PPTA Perpetua Resources Corp. $2.1B — (loss-making) — — n/m −1,165.90% (below 0%: shrinking) 0.00% 0.00% Compare
SIND Sinda Ltd. $1.9B — (loss-making) — — n/m — 0.00% 0.00% Compare
SLSR Solaris Resources Inc. $1.2B — (loss-making) — — n/m −51.52% (below 0%: shrinking) — 0.00% Compare
VMET Versamet Royalties Corporation $971.9M 23.0× — +391.88% (above 0%: growing) +2,677.78% (above 0%: growing) +778.57% (above 0%: growing) 58.96% 58.04% Compare
MUX McEwen Inc. $912.4M 10.9× 15.1× +26.84% (above 0%: growing) +166.67% (above 0%: growing) +328.14% (above 0%: growing) 33.90% 13.01%
ASM Avino Silver $777.9M 16.5× 13.1× +22.85% (above 0%: growing) +200.00% (above 0%: growing) +106.43% (above 0%: growing) 48.42% 34.22% Compare
MTA Metalla Royalty & Streaming Ltd. $722.8M — (loss-making) 103× +93.84% (above 0%: growing) n/m +75.32% (above 0%: growing) 91.00% 44.37% Compare
ITRG Integra Resources Corp. $434.1M 53.5× — +15.92% (above 0%: growing) 0.00% +154.33% (above 0%: growing) 33.01% 20.06% Compare
VOXR Vox Royalty Corp. $340.5M 7.0× 7.5× +122.56% (above 0%: growing) n/m +146.39% (above 0%: growing) 66.34% 123.61% Compare
Median of peers $874.9M 19.8× 13.1× +93.84% +200.00% +106.43% 48.42% 27.14%

All 18 Other Precious Metals & Mining stocks →

Pay and ownership Proxy statement filed 24 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 685.85k 614.68k 193.10
2024 4.91k (2.81k) 78.98
2023 342.17k 377.76k 73.20
2022 3.59k (69.11k) 46.14
2021 3.71k (46.71k) 69.80

Ownership

Directors and executive officers, together 14.80%
Robert McEwen (includes shares held by 14.10%
2190303 Ontario Inc 13.90%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

McEwen Inc. (MUX) Latest News

21 Oct

Impact 4 · · Zacks

13 Oct

Impact 4 · · Simply Wall St.

12 Oct

Impact 3 · · mining-technology.com

9 Oct

Impact 4 · · GlobeNewswire

7 Oct

Impact 3 · · GlobeNewswire

30 Sep

Impact 4 · · MarketBeat

27 Sep

Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.

18 Sep

Impact 3 ·

17 Sep

Impact 3 ·

10 Sep

Impact 4 · · Proactive Investors
Impact 4 ·

27 Aug

Impact 4 ·

13 Aug

Impact 3 · · The Motley Fool transcript

11 Aug

Impact 3 ·

8 Aug

Impact 3 · · MarketBeat transcript

7 Aug

Impact 3 ·

6 Aug

Impact 5 ·
Impact 3 · transcript
Impact 3 · · Moby transcript

5 Aug

Impact 4 ·
Impact 3 ·

30 Jul

Impact 3 ·

22 Jul

Impact 3 ·

15 Jul

Impact 4 ·

8 Jun

Impact 4 · · GlobeNewswire

29 May

Impact 3 · · Insider Monkey

26 May

Impact 3 · · Zacks

22 May

Impact 3 · · Simply Wall St.

21 May

Impact 3 · · MT Newswires
stockrow.com/MUX · Data as of Oct 25, 2026 · For information only; not investment advice. · © 2026 stockrow.com