Is the business good?
How good a business is FSM?
Fortuna Mining Corp. earns 29% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
29%
Return on invested capital · cost of capital 9.0% · 20 points above what the capital costs: growth creates value
- Operating margin
- 43%
Operating margin · Gold median 39% · fiscal year to FY2025
- Share count, year on year
- +7.8%
Share count, year on year · shareholders own a smaller slice than a year ago
- Gross margin
- 49%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | 21% |
| FY2021 | 23% |
| FY2022 | −17% |
| FY2023 | −0.05% |
| FY2024 | 23% |
| FY2025 | 43% |
Details›
- Gross marginfiscal year to FY2025
- 49%
- Operating marginfiscal year to FY2025
- 43%
- Net marginfiscal year to FY2025
- 30%
- Revenue, trailing twelve months
- $947M
- Net income, trailing twelve months
- $287M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 29%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.