McEwen Inc Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
McEwen Inc has an operating margin of -29.0%, meaning the company retains $-29 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -97.5% the prior year.
McEwen Inc's revenue grew 5.0% year-over-year to $174.5M, a solid pace of expansion. This earns a growth score of 43/100.
McEwen Inc carries a low D/E ratio of 0.08, meaning only $0.08 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
McEwen Inc's current ratio of 0.86 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 15/100, which could limit financial flexibility.
McEwen Inc passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, McEwen Inc generates $-0.67 in operating cash flow ($29.5M OCF vs -$43.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
McEwen Inc earns $-16.7 in operating income for every $1 of interest expense (-$50.6M vs $3.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
This page shows McEwen Inc (MUX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).
Key Financial Metrics
McEwen Inc generated $174.5M in revenue in fiscal year 2024. This represents an increase of 5.0% from the prior year.
McEwen Inc's EBITDA was -$19.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 85.0% from the prior year.
McEwen Inc reported -$43.7M in net income in fiscal year 2024. This represents a decrease of 179.0% from the prior year.
McEwen Inc earned $-0.86 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 174.1% from the prior year.
McEwen Inc held $13.7M in cash against $40.0M in long-term debt as of fiscal year 2024.
McEwen Inc had 53M shares outstanding in fiscal year 2024. This represents an increase of 7.3% from the prior year.
McEwen Inc's gross margin was 17.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 7.0 percentage points from the prior year.
McEwen Inc's operating margin was -29.0% in fiscal year 2024, reflecting core business profitability. This is up 68.5 percentage points from the prior year.
McEwen Inc's net profit margin was -25.0% in fiscal year 2024, showing the share of revenue converted to profit. This is down 58.3 percentage points from the prior year.
MUX Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $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-29.7% | $58.7M |
| Cost of Revenue | $35.2M+27.0% | $27.7M+41.5% | $19.6M-25.9% | $26.5M-10.9% | $29.7M-7.4% | $32.1M+27.7% | $25.1M-36.9% | $39.8M |
| Gross Profit | $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-53.9% | $13.1M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $6.1M+20.3% | $5.0M+49.8% | $3.4M-48.1% | $6.5M+203.7% | $2.1M-52.1% | $4.5M+9.5% | $4.1M-34.7% | $6.2M |
| Operating Income | -$8.4M-149.8% | -$3.4M+55.8% | -$7.6M+47.5% | -$14.5M-14895.9% | -$97K+99.3% | -$13.9M+36.6% | -$22.0M+53.6% | -$47.4M |
| Interest Expense | $1.5M+5.8% | $1.4M+8.0% | $1.3M+98.3% | $660K-8.7% | $723K-11.5% | $817K-1.9% | $833K+102.5% | -$32.8M |
| Income Tax | -$1.3M-14.2% | -$1.1M-3.0% | -$1.1M-200.7% | $1.1M+31.6% | $814K+134.3% | -$2.4M+7.1% | -$2.6M-107.0% | $36.7M |
| Net Income | -$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-114.7% | $138.5M |
| EPS (Diluted) | $-0.01-116.7% | $0.06+150.0% | $-0.12+25.0% | $-0.16-300.0% | $-0.04+84.6% | $-0.26+36.6% | $-0.41-114.2% | $2.89 |
MUX Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $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-2.8% | $657.2M |
| Current Assets | $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-1.2% | $52.7M |
| Cash & Equivalents | $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-4.5% | $23.0M |
| Inventory | $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-0.4% | $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 | $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+0.9% | $154.8M |
| Current Liabilities | $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+26.4% | $30.0M |
| Long-Term Debt | $126.0M+0.2% | $125.8M+0.2% | $125.5M+213.8% | $40.0M0.0% | $40.0M0.0% | $40.0M0.0% | $40.0M0.0% | $40.0M |
| Total Equity | $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-4.0% | $502.4M |
| Retained Earnings | -$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-1.6% | -$1.3B |
MUX Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $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-75.9% | $16.1M |
| 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 | -$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+90.4% | -$47.5M |
| Financing Cash Flow | $3.5M+1412.2% | -$263K-100.4% | $70.5M+21211.7% | -$334K+33.5% | -$502K-102.5% | $20.2M+14311.3% | -$142K-101.1% | $13.3M |
| 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 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 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%-7.7pp | 22.2% |
| Operating Margin | -16.7%-9.4pp | -7.2%+14.2pp | -21.4%+22.0pp | -43.4%-43.2pp | -0.2%+29.2pp | -29.4%+23.9pp | -53.3%+27.4pp | -80.7% |
| Net Margin | -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%-285.4pp | 236.0% |
| Return on Equity | N/A | 0.6% | N/A | N/A | N/A | N/A | N/A | 27.6% |
| Return on Assets | -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%-24.3pp | 21.1% |
| Current Ratio | 2.10-0.2 | 2.350.0 | 2.35+1.5 | 0.86-0.3 | 1.17-0.5 | 1.68+0.3 | 1.37-0.4 | 1.76 |
| Debt-to-Equity | 0.260.0 | 0.260.0 | 0.26+0.2 | 0.080.0 | 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 |
Note: The current ratio is below 1.0 (0.86), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is McEwen Inc's annual revenue?
McEwen Inc (MUX) reported $174.5M in total revenue for fiscal year 2024. This represents a 5.0% 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 5% year-over-year, from $166.2M to $174.5M in fiscal year 2024.
Is McEwen Inc profitable?
No, McEwen Inc (MUX) reported a net income of -$43.7M in fiscal year 2024, with a net profit margin of -25.0%.
What is McEwen Inc's earnings per share (EPS)?
McEwen Inc (MUX) reported diluted earnings per share of $-0.86 for fiscal year 2024. This represents a -174.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is McEwen Inc's EBITDA?
McEwen Inc (MUX) had EBITDA of -$19.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does McEwen Inc have?
As of fiscal year 2024, McEwen Inc (MUX) had $13.7M in cash and equivalents against $40.0M in long-term debt.
What is McEwen Inc's gross margin?
McEwen Inc (MUX) had a gross margin of 17.7% in fiscal year 2024, 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 -29.0% in fiscal year 2024, 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 -25.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is McEwen Inc's operating cash flow?
McEwen Inc (MUX) generated $29.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are McEwen Inc's total assets?
McEwen Inc (MUX) had $664.6M in total assets as of fiscal year 2024, including both current and long-term assets.
How many shares does McEwen Inc have outstanding?
McEwen Inc (MUX) had 53M shares outstanding as of fiscal year 2024.
What is McEwen Inc's current ratio?
McEwen Inc (MUX) had a current ratio of 0.86 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is McEwen Inc's debt-to-equity ratio?
McEwen Inc (MUX) had a debt-to-equity ratio of 0.08 as of fiscal year 2024, 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 -6.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
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 -0.67x, considered mixed quality. 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 -16.7x, 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 39 out of 100 on our Financial Profile, indicating weak 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.