Fortuna Mining Corp. (FSM) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 21, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 40-F for FY2025, filed Mar 26, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FSM SEC filings page.
Fortuna Mining Corp. (FSM) reported $947.1M in revenue for fiscal year 2025, up 39.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Fortuna’s 2025 results show revenue of $947M supporting net income of $311M with modest leverage.
Profit rose more than twofold from FY2024 to FY2025 as net margin widened, showing that earnings improved faster than sales rather than merely tracking volume. Because gross and operating margins are absent, the data cannot separate mix, cost control, or other below-revenue effects.
From FY2024 to FY2025, assets expanded while liabilities contracted and equity rose, indicating growth was financed mainly through accumulated equity rather than heavier borrowing. Current ratio climbed from 1.9x to 3.0x, so short-term asset coverage improved materially.
In FY2024, operating cash flow of
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 5 of 6, with the others left out rather than counted as zero. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Fortuna Mining Corp.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Fortuna Mining Corp.'s revenue surged 39.8% year-over-year to $947.1M, reflecting rapid business expansion. This strong growth earns a score of 54/100.
Fortuna Mining Corp. carries a low D/E ratio of 0.03, meaning only $0.03 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 85/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.98, Fortuna Mining Corp. holds $2.98 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 77/100.
Not available for Fortuna Mining Corp., so it is left out of the overall score, which averages the 5 of 6 dimensions that can be computed.
Fortuna Mining Corp.'s ROE of 17.9% shows moderate profitability relative to equity, earning a score of 60/100. This is up from 9.7% the prior year.
Fortuna Mining Corp. passes 5 of 6 computable financial strength tests (3 of the nine could not be computed from available data). All 2 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) passes.
Key Financial Metrics
Earnings & Revenue
Fortuna Mining Corp. generated $947.1M in revenue in fiscal year 2025. This represents an increase of 39.8% from the prior year.
Fortuna Mining Corp. reported $311.1M in net income in fiscal year 2025. This represents an increase of 119.2% from the prior year.
Fortuna Mining Corp. earned $0.85 per diluted share (EPS) in fiscal year 2025. This represents an increase of 214.8% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Fortuna Mining Corp. held $554.0M in cash against $55.7M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Fortuna Mining Corp.'s net profit margin was 32.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 11.9 percentage points from the prior year.
Fortuna Mining Corp.'s ROE was 17.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 8.2 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
None of these metrics is reported for fiscal year 2025.
FSM Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F | FY1640-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $947.1M+39.8% | $677.2M-19.6% | $842.4M+23.6% | $681.5M+13.6% | $599.9M+115.0% | $279.0M+8.5% | $257.2M-2.3% | $263.3M-1.8% | $268.1M+27.5% | $210.3M |
| Interest Expense | $5.6M+43.9% | $3.9M-78.7% | $18.4M+106.7% | $8.9M-13.3% | $10.2M+578.5% | $1.5M+76.2% | $857K-21.5% | $1.1M-33.6% | $1.6M-23.4% | $2.1M |
| Income Tax | $111.4M+116.7% | $51.4M+57.8% | $32.6M+201.7% | $10.8M-77.4% | $47.8M+27.7% | $37.4M+85.4% | $20.2M-39.5% | $33.4M-13.7% | $38.6M+32.1% | $29.3M |
| Net Income | $311.1M+119.2% | $141.9Mn/m | -$43.6Mn/m | -$135.9M-328.8% | $59.4M+175.6% | $21.6M-9.4% | $23.8M-30.0% | $34.0M-48.7% | $66.3M+271.3% | $17.9M |
| EPS (Basic) | $0.88+225.9% | $0.27 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EPS (Diluted) | $0.85+214.8% | $0.27 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Diluted Shares (Avg) | 335M+7.8% | 311M+5.3% | 295M+1.3% | 291M+16.8% | 249M+34.1% | 186M+13.1% | 165M+1.8% | 162M+2.1% | 158M+14.7% | 138M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA.
FSM Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F | FY1640-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.4B+11.6% | $2.1B+7.5% | $2.0B+4.9% | $1.9B-7.2% | $2.0B+91.6% | $1.1B+12.7% | $936.1M+19.0% | $786.5M+11.3% | $706.6M+25.5% | $562.9M |
| Current Assets | $764.5M+57.2% | $486.2M+45.9% | $333.3M+31.9% | $252.7M-10.1% | $281.1M+13.3% | $248.1M+62.5% | $152.6M-30.3% | $218.9M-19.6% | $272.5M+63.2% | $166.9M |
| Cash & Equivalents | $554.0M+139.5% | $231.3M+80.5% | $128.1M+59.2% | $80.5M-24.8% | $107.1M-18.8% | $131.9M+58.1% | $83.4M-7.8% | $90.5M-50.6% | $183.1M+122.0% | $82.5M |
| Inventory | $122.7M-8.8% | $134.5M+16.1% | $115.8M+25.9% | $92.0M+7.2% | $85.8M+143.3% | $35.3M+135.6% | $15.0M+4.1% | $14.4M-19.0% | $17.8M+30.8% | $13.6M |
| Accounts Receivable | $74.4M-25.6% | $100.0M+43.8% | $69.5M+2.0% | $68.2M-10.9% | $76.5M-0.1% | $76.6M+60.5% | $47.7M+45.6% | $32.8M-9.9% | $36.4M+45.6% | $25.0M |
| Total Liabilities | $625.3M-3.7% | $649.5M-4.5% | $679.7M+15.7% | $587.5M-0.8% | $592.4M+79.7% | $329.6M+9.6% | $300.6M+63.6% | $183.7M+28.4% | $143.1M+2.4% | $139.8M |
| Current Liabilities | $256.4M+0.1% | $256.0M+5.0% | $243.8M+80.5% | $135.1M-19.0% | $166.8M+72.9% | $96.4M+7.4% | $89.8M+46.4% | $61.3M+1.2% | $60.6M+4.3% | $58.1M |
| Non-Current Liabilities | $368.9M-6.2% | $393.4M-9.8% | $436.0M-3.6% | $452.4M+6.3% | $425.6M+82.6% | $233.1M+10.6% | $210.9M+72.3% | $122.4M+48.4% | $82.5M+1.0% | $81.7M |
| Long-Term Debt | $55.7M+15.5% | $48.2M+13.6% | $42.5M+255.9% | $11.9M-36.8% | $18.9M+50.8% | $12.5M-16.8% | $15.0M+51.0% | $10.0M | N/A | N/A |
| Total Equity | $1.7B+18.4% | $1.5B+13.8% | $1.3B0.0% | $1.3B-9.9% | $1.4B+97.0% | $725.8M+14.2% | $635.4M+5.4% | $602.8M+7.0% | $563.6M+33.2% | $423.2M |
| Retained Earnings | $488.1M+125.6% | $216.4M+146.9% | $87.6M-36.7% | $138.5M-48.1% | $266.6M+27.7% | $208.7M+11.5% | $187.2M+14.6% | $163.4M+26.3% | $129.4M+105.1% | $63.1M |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments, Goodwill.
FSM Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F | FY1640-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | N/A | $365.7M+23.2% | $296.9M+52.8% | $194.2M+32.0% | $147.1M+57.6% | $93.4M+55.2% | $60.2M-27.9% | $83.5M+18.9% | $70.2M+33.2% | $52.7M |
| Depreciation & Amortization | $191.0M+8.8% | $175.5M-20.1% | $219.7M+27.1% | $172.8M+41.3% | $122.3M+169.3% | $45.4M-2.0% | $46.4M+3.5% | $44.8M+5.3% | $42.5M+28.8% | $33.0M |
| Investing Cash Flow | N/A | -$194.4Mn/m | -$216.9Mn/m | -$255.3Mn/m | -$118.5Mn/m | -$113.6Mn/m | -$142.4Mn/m | -$205.1Mn/m | -$39.3Mn/m | -$51.3M |
| Financing Cash Flow | N/A | -$66.1Mn/m | -$32.7M-185.1% | $38.5Mn/m | -$51.4M-174.6% | $68.9M-8.3% | $75.1M+161.6% | $28.7M-58.7% | $69.5M+689.7% | $8.8M |
Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
FSM Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F | FY1640-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 32.9%+11.9pp | 20.9%+26.1pp | -5.2%+14.8pp | -19.9%-29.8pp | 9.9%+2.2pp | 7.7%-1.5pp | 9.3%-3.7pp | 12.9%-11.8pp | 24.7%+16.2pp | 8.5% |
| Return on Equity | 17.9%+8.2pp | 9.7%+13.1pp | -3.4%+7.2pp | -10.5%-14.7pp | 4.2%+1.2pp | 3.0%-0.8pp | 3.7%-1.9pp | 5.6%-6.1pp | 11.8%+7.5pp | 4.2% |
| Return on Assets | 13.2%+6.5pp | 6.7%+8.9pp | -2.2%+5.0pp | -7.2%-10.2pp | 2.9%+0.9pp | 2.0%-0.5pp | 2.5%-1.8pp | 4.3%-5.1pp | 9.4%+6.2pp | 3.2% |
| Current Ratio | 2.98+1.1x | 1.90+0.5x | 1.37-0.5x | 1.87+0.2x | 1.69-0.9x | 2.57+0.9x | 1.70-1.9x | 3.57-0.9x | 4.50+1.6x | 2.87 |
| Debt-to-Equity | 0.030.0x | 0.030.0x | 0.030.0x | 0.010.0x | 0.010.0x | 0.020.0x | 0.020.0x | 0.02 | N/A | N/A |
| Liabilities-to-Equity | 0.36-0.1x | 0.44-0.1x | 0.53+0.1x | 0.460.0x | 0.410.0x | 0.450.0x | 0.47+0.2x | 0.30+0.1x | 0.25-0.1x | 0.33 |
| Asset Turnover | 0.40+0.1x | 0.32-0.1x | 0.43+0.1x | 0.36+0.1x | 0.300.0x | 0.260.0x | 0.27-0.1x | 0.330.0x | 0.380.0x | 0.37 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Fortuna Mining Corp. FSM | FY2025 | $947.1M | $311.1M | 32.9% | $3.1B | 70/100 |
| NovaGold Resources Inc. NG | FY2025 | $0 | -$94.7M | N/A | $2.9B | — |
| SSR Mining Inc. SSRM | FY2025 | $1.6B | $395.8M | 24.3% | $6.4B | 54/100 |
| B2Gold Corp. BTG | FY2025 | N/A | $426.7M | N/A | $6.9B | — |
| Eldorado Gold Corporation EGO | FY2025 | $1.8B | $504.3M | 27.7% | $9.1B | 70/100 |
Where Fortuna Mining Corp. Ranks
Frequently Asked Questions
What is Fortuna Mining Corp.'s annual revenue?
Fortuna Mining Corp. (FSM) reported $947.1M in total revenue for fiscal year 2025. This represents a 39.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Fortuna Mining Corp.'s revenue growing?
Fortuna Mining Corp. (FSM) revenue grew by 39.8% year-over-year, from $677.2M to $947.1M in fiscal year 2025.
Is Fortuna Mining Corp. profitable?
Yes, Fortuna Mining Corp. (FSM) reported a net income of $311.1M in fiscal year 2025, with a net profit margin of 32.9%.
How much debt does Fortuna Mining Corp. have?
As of fiscal year 2025, Fortuna Mining Corp. (FSM) had $554.0M in cash and equivalents against $55.7M in long-term debt.
What is Fortuna Mining Corp.'s net profit margin?
Fortuna Mining Corp. (FSM) had a net profit margin of 32.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Fortuna Mining Corp.'s return on equity (ROE)?
Fortuna Mining Corp. (FSM) has a return on equity of 17.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What are Fortuna Mining Corp.'s total assets?
Fortuna Mining Corp. (FSM) had $2.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Fortuna Mining Corp.'s current ratio?
Fortuna Mining Corp. (FSM) had a current ratio of 2.98 as of fiscal year 2025, which is generally considered healthy.
What is Fortuna Mining Corp.'s debt-to-equity ratio?
Fortuna Mining Corp. (FSM) had a debt-to-equity ratio of 0.03 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
What is Fortuna Mining Corp.'s liabilities-to-equity ratio?
Fortuna Mining Corp. (FSM) had a liabilities-to-equity ratio of 0.36 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
What is Fortuna Mining Corp.'s return on assets (ROA)?
Fortuna Mining Corp. (FSM) had a return on assets of 13.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Fortuna Mining Corp.'s P/E ratio?
Fortuna Mining Corp. (FSM) trades at 9.8x earnings, its market capitalization divided by $311.1M net income, FY2025. The market capitalization is $3.1B as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Fortuna Mining Corp.'s price-to-sales ratio?
Fortuna Mining Corp. (FSM) trades at 3.2x sales, its market capitalization divided by $947.1M revenue, FY2025. The market capitalization is $3.1B as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Fortuna Mining Corp.'s Piotroski F-Score?
Fortuna Mining Corp. (FSM) has a Piotroski F-Score of 5 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
How financially healthy is Fortuna Mining Corp.?
Fortuna Mining Corp. (FSM) scores 70 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. For Fortuna Mining Corp. it averages the 5 of 6 dimensions that can be computed; the others are left out rather than counted as zero. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.