McEwen Inc Financials
This page shows McEwen Inc (MUX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
McEwen Inc has an operating margin of 1.3%, meaning the company retains $1 of operating profit per $100 of revenue. This below-average margin results in a low score of 25/100, suggesting thin profitability after operating expenses. This is up from -29.0% the prior year.
McEwen Inc's revenue grew 13.2% year-over-year to $197.6M, a solid pace of expansion. This earns a growth score of 55/100.
McEwen Inc carries a low D/E ratio of 0.23, meaning only $0.23 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 97/100, indicating a strong balance sheet with room for future borrowing.
McEwen Inc's current ratio of 1.69 indicates adequate short-term liquidity, earning a score of 30/100. The company can meet its near-term obligations, though with limited headroom.
McEwen Inc generates a 6.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 25/100. This is up from -8.8% the prior year.
McEwen Inc scores 0.94, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($1.3B) relative to total liabilities ($274.0M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
McEwen Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, McEwen Inc generates $0.20 in operating cash flow ($6.9M OCF vs $34.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
McEwen Inc earns $0.4 in operating income for every $1 of interest expense ($2.7M vs $7.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
McEwen Inc generated $197.6M in revenue in fiscal year 2025. This represents an increase of 13.2% from the prior year.
McEwen Inc's EBITDA was $30.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 254.8% from the prior year.
McEwen Inc reported $34.4M in net income in fiscal year 2025. This represents an increase of 178.8% from the prior year.
McEwen Inc earned $0.59 per diluted share (EPS) in fiscal year 2025. This represents an increase of 168.6% from the prior year.
Cash & Balance Sheet
McEwen Inc held $51.0M in cash against $126.2M in long-term debt as of fiscal year 2025.
McEwen Inc had 56M shares outstanding in fiscal year 2025. This represents an increase of 4.6% from the prior year.
Margins & Returns
McEwen Inc's gross margin was 24.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 6.3 percentage points from the prior year.
McEwen Inc's operating margin was 1.3% in fiscal year 2025, reflecting core business profitability. This is up 30.3 percentage points from the prior year.
McEwen Inc's net profit margin was 17.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 42.5 percentage points from the prior year.
McEwen Inc's ROE was 6.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 15.1 percentage points from the prior year.
Capital Allocation
MUX Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $64.6M+27.9% | $50.5M+8.2% | $46.7M+30.8% | $35.7M+6.5% | $33.5M-35.8% | $52.3M+10.1% | $47.5M+15.2% | $41.2M |
| Cost of Revenue | N/A | $35.2M+27.0% | $27.7M+41.5% | $19.6M | N/A | $29.7M-7.4% | $32.1M+27.7% | $25.1M |
| Gross Profit | $17.4M+122.6% | $7.8M-36.4% | $12.3M+22.0% | $10.1M+2674.1% | $363K-97.4% | $13.8M+28.3% | $10.8M+79.0% | $6.0M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | $6.1M+20.3% | $5.0M+49.8% | $3.4M | N/A | $2.1M-52.1% | $4.5M+9.5% | $4.1M |
| Operating Income | N/A | -$8.4M-149.8% | -$3.4M+55.8% | -$7.6M | N/A | -$97K+99.3% | -$13.9M+36.6% | -$22.0M |
| Interest Expense | N/A | $1.5M+5.8% | $1.4M+8.0% | $1.3M | N/A | $723K-11.5% | $817K-1.9% | $833K |
| Income Tax | N/A | -$1.3M-14.2% | -$1.1M-3.0% | -$1.1M | N/A | $814K+134.3% | -$2.4M+7.1% | -$2.6M |
| Net Income | $38.1M+8352.4% | -$462K-115.2% | $3.0M+148.5% | -$6.3M+23.8% | -$8.2M-295.6% | -$2.1M+84.0% | -$13.0M+36.2% | -$20.4M |
| EPS (Diluted) | $0.57+5800.0% | $-0.01-116.7% | $0.06+150.0% | $-0.12+25.0% | $-0.16-300.0% | $-0.04+84.6% | $-0.26+36.6% | $-0.41 |
MUX Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $820.2M+9.7% | $747.6M+1.6% | $735.6M+0.7% | $730.6M+9.9% | $664.6M-0.5% | $667.8M+3.5% | $645.1M+1.0% | $638.7M |
| Current Assets | $107.9M-9.6% | $119.4M+10.9% | $107.7M+1.2% | $106.4M+158.3% | $41.2M-30.9% | $59.6M-17.4% | $72.2M+38.7% | $52.0M |
| Cash & Equivalents | $51.0M-0.5% | $51.2M-4.3% | $53.6M-21.8% | $68.5M+400.4% | $13.7M-53.2% | $29.2M-28.2% | $40.7M+85.0% | $22.0M |
| Inventory | $26.8M-9.1% | $29.5M+22.3% | $24.1M+16.4% | $20.7M+14.5% | $18.1M-17.4% | $21.9M+9.7% | $20.0M+0.6% | $19.9M |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $274.0M+5.8% | $259.1M+3.2% | $251.1M+0.2% | $250.8M+47.8% | $169.6M+2.4% | $165.7M+3.6% | $159.9M+2.4% | $156.2M |
| Current Liabilities | $63.8M+12.4% | $56.8M+23.8% | $45.9M+1.3% | $45.3M-5.1% | $47.7M-6.4% | $50.9M+18.4% | $43.0M+13.5% | $37.9M |
| Long-Term Debt | $126.2M+0.2% | $126.0M+0.2% | $125.8M+0.2% | $125.5M+213.8% | $40.0M0.0% | $40.0M0.0% | $40.0M0.0% | $40.0M |
| Total Equity | $546.2M+11.8% | $488.6M+0.8% | $484.5M+1.0% | $479.8M-3.1% | $495.0M-1.4% | $502.1M+3.5% | $485.2M+0.6% | $482.5M |
| Retained Earnings | -$1.3B+2.9% | -$1.3B0.0% | -$1.3B+0.2% | -$1.3B-0.5% | -$1.3B-0.6% | -$1.3B-0.2% | -$1.3B-1.0% | -$1.3B |
MUX Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.1M-40.5% | $5.2M+991.0% | $478K+124.7% | -$1.9M-59.4% | -$1.2M-105.2% | $23.2M+542.8% | $3.6M-7.1% | $3.9M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$8.3M+24.7% | -$11.0M+28.1% | -$15.2M-12.0% | -$13.6M-5.3% | -$12.9M+62.1% | -$34.0M-419.5% | -$6.5M-43.1% | -$4.6M |
| Financing Cash Flow | $5.0M+45.6% | $3.5M+1412.2% | -$263K-100.4% | $70.5M+21211.7% | -$334K+33.5% | -$502K-102.5% | $20.2M+14311.3% | -$142K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
MUX Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 26.9%+11.4pp | 15.5%-10.8pp | 26.3%-1.9pp | 28.2%+27.1pp | 1.1%-25.3pp | 26.4%+3.8pp | 22.7%+8.1pp | 14.6% |
| Operating Margin | N/A | -16.7%-9.4pp | -7.2%+14.2pp | -21.4% | N/A | -0.2%+29.2pp | -29.4%+23.9pp | -53.3% |
| Net Margin | 59.0%+59.9pp | -0.9%-7.4pp | 6.5%+24.1pp | -17.6%+7.0pp | -24.6%-20.6pp | -4.0%+23.4pp | -27.4%+22.1pp | -49.4% |
| Return on Equity | 7.0%+7.1pp | -0.1%-0.7pp | 0.6%+1.9pp | -1.3%+0.3pp | -1.7%-1.3pp | -0.4%+2.3pp | -2.7%+1.5pp | -4.2% |
| Return on Assets | 4.7%+4.7pp | -0.1%-0.5pp | 0.4%+1.3pp | -0.9%+0.4pp | -1.2%-0.9pp | -0.3%+1.7pp | -2.0%+1.2pp | -3.2% |
| Current Ratio | 1.69-0.4 | 2.10-0.2 | 2.350.0 | 2.35+1.5 | 0.86-0.3 | 1.17-0.5 | 1.68+0.3 | 1.37 |
| Debt-to-Equity | 0.23-0.0 | 0.260.0 | 0.260.0 | 0.26+0.2 | 0.080.0 | 0.080.0 | 0.080.0 | 0.08 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is McEwen Inc's annual revenue?
McEwen Inc (MUX) reported $197.6M in total revenue for fiscal year 2025. This represents a 13.2% 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 McEwen Inc's revenue growing?
McEwen Inc (MUX) revenue grew by 13.2% year-over-year, from $174.5M to $197.6M in fiscal year 2025.
Is McEwen Inc profitable?
Yes, McEwen Inc (MUX) reported a net income of $34.4M in fiscal year 2025, with a net profit margin of 17.4%.
What is McEwen Inc's EBITDA?
McEwen Inc (MUX) had EBITDA of $30.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does McEwen Inc have?
As of fiscal year 2025, McEwen Inc (MUX) had $51.0M in cash and equivalents against $126.2M in long-term debt.
What is McEwen Inc's gross margin?
McEwen Inc (MUX) had a gross margin of 24.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is McEwen Inc's operating margin?
McEwen Inc (MUX) had an operating margin of 1.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is McEwen Inc's net profit margin?
McEwen Inc (MUX) had a net profit margin of 17.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is McEwen Inc's return on equity (ROE)?
McEwen Inc (MUX) has a return on equity of 6.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is McEwen Inc's operating cash flow?
McEwen Inc (MUX) generated $6.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are McEwen Inc's total assets?
McEwen Inc (MUX) had $820.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What is McEwen Inc's current ratio?
McEwen Inc (MUX) had a current ratio of 1.69 as of fiscal year 2025, which is generally considered healthy.
What is McEwen Inc's debt-to-equity ratio?
McEwen Inc (MUX) had a debt-to-equity ratio of 0.23 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is McEwen Inc's return on assets (ROA)?
McEwen Inc (MUX) had a return on assets of 4.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is McEwen Inc's Altman Z-Score?
McEwen Inc (MUX) has an Altman Z-Score of 0.94, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is McEwen Inc's Piotroski F-Score?
McEwen Inc (MUX) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are McEwen Inc's earnings high quality?
McEwen Inc (MUX) has an earnings quality ratio of 0.20x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can McEwen Inc cover its interest payments?
McEwen Inc (MUX) has an interest coverage ratio of 0.4x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is McEwen Inc?
McEwen Inc (MUX) scores 47 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.