Americas Gold and Silver Corporation
USAS Basic Materials Other Industrial Metals & Mining
Americas Gold and Silver Corporation’s revenue for fiscal 2025 (year ended December 2025) was $117.9 million, up 17.7% from fiscal 2024. In the quarter to June 2026, revenue grew 72.1%, EPS grew 69.8%, free cash flow fell 209.6% and total debt fell 8.98%, each against the same quarter a year earlier. Revenue growth for five consecutive years.
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Americas Gold and Silver Corporation (USAS) Altman Z-score
Americas Gold and Silver Corporation's Altman Z-score for fiscal 2025 is 2.29, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 2.29 | 6.16 |
| FY2024 | −3.87 | (0.43) |
| FY2023 | −3.44 | (0.86) |
| FY2022 | −2.58 | 0.53 |
| FY2021 | −3.11 | (3.57) |
| FY2020 | 0.47 | 0.37 |
| FY2019 | 0.10 | 0.54 |
| FY2018 | −0.44 | (1.37) |
| FY2017 | 0.92 | 0.44 |
| FY2016 | 0.48 | 2.21 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.16 | — | 0.20 | |
| Retained earnings / total assets | (1.62) | — | −2.27 | |
| EBIT / total assets | (0.06) | — | −0.21 | |
| Market value of equity / total liabilities | 7.14 | — | 4.28 | |
| Sales / total assets | 0.29 | — | 0.29 | |
| Altman Z-score | Grey zone | 2.29 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −3.41 | ||
Z and Z″ put Americas Gold and Silver Corporation in different zones: grey zone by Z, distress zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| USAS Americas Gold and Silver Corporation | 2.3× |
| SGML Sigma Lithium Corporation compare | 1.9× |
| CMP Compass Minerals International, Inc. compare | 1.4× |
| NEXA Nexa Resources S.A. compare | 0.7× |
| VZLA Vizsla Silver Corp. compare | — |
| CRML Critical Metals Corp. compare | — |
| TMC TMC the metals company Inc. compare | — |
| EMAT Evolution Metals & Technologies Corp. compare | — |
| LAC Lithium Americas Corp. compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets