McEwen Inc. (MUX) 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 9, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MUX SEC filings page.
McEwen Inc. (MUX) reported $248.4M in revenue over the twelve months to Jun 30, 2026, up 47.7% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Margin expansion finally reached operating break-even, but cash generation weakened as the balance sheet took on more debt.
The key quality shift is that near-break-even earnings in FY2025 did not translate into comparable cash: operating cash flow fell from$29.5M in FY2024 to$6.9M . That happened even as revenue increased13.2% , so the improved income statement was not yet matched by cash conversion.
Gross margin expanded from
Total liabilities rose to
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. 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 McEwen Inc.'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.
McEwen Inc. held $72.1M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations generated $6.9M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and McEwen Inc. scores 86/100 among other emerging companies.
McEwen Inc. had 59M shares outstanding at the end of fiscal year 2025, against 54M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and McEwen Inc. scores 48/100 among other emerging companies.
Not available for McEwen Inc., and counted as zero in the overall score.
McEwen Inc. reported revenue of $197.6M in fiscal year 2025, against $174.5M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and McEwen Inc. scores 54/100 among other emerging companies.
McEwen Inc.'s operations generated $6.9M of cash in fiscal year 2025, against $29.5M generated in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and McEwen Inc. scores 90/100 among other emerging companies.
McEwen Inc.'s cash, cash equivalents and investments came to $72.1M at the end of fiscal year 2025, against $274.0M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and McEwen Inc. scores 31/100 among other emerging companies.
McEwen Inc. scores 0.47, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($1.1B) relative to total liabilities ($274.0M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
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.
McEwen Inc. reported a net loss of $1.3M while generating $6.9M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
McEwen Inc. earns $0.37 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 $59.2M in revenue in Q2 2026. This represents an increase of 26.8% from the same quarter a year earlier. Against the prior quarter it is down 20.0%.
McEwen Inc.'s EBITDA was $15.9M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 356.9% from the same quarter a year earlier. Against the prior quarter it is down 67.1%.
McEwen Inc. reported $9.6M in net income in Q2 2026. This represents an increase of 216.0% from the same quarter a year earlier. Against the prior quarter it is down 71.2%.
McEwen Inc. earned $0.14 per diluted share (EPS) in Q2 2026. This represents an increase of 133.3% from the same quarter a year earlier. Against the prior quarter it is down 70.2%.
Cash & Balance Sheet
McEwen Inc. held $78.9M in cash against $120.6M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
McEwen Inc.'s gross margin was 33.9% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 7.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 8.6 percentage points.
McEwen Inc.'s operating margin was 13.0% in Q2 2026, reflecting core business profitability. This is up 20.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 42.7 percentage points.
McEwen Inc.'s net profit margin was 16.2% in Q2 2026, showing the share of revenue converted to profit. This is up 9.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 28.9 percentage points.
McEwen Inc.'s ROE was 1.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.8 percentage points.
Capital Allocation
None of these metrics is reported for Q2 2026.
MUX 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $59.2M+26.8% | $74.0M+107.4% | $64.6M+92.8% | $50.5M-3.3% | $46.7M-1.6% | $35.7M-13.4% | $33.5M-42.9% | $52.3M+36.1% |
| Cost of Revenue | $31.1M+12.3% | $35.6M+81.8% | N/A | $35.2M+18.7% | $27.7M-13.5% | $19.6M-21.9% | N/A | $29.7M+12.1% |
| Gross Profit | $20.1M+63.5% | $31.5M+212.8% | $17.4M+4692.6% | $7.8M-43.4% | $12.3M+14.2% | $10.1M+67.5% | $363K-97.2% | $13.8M+267.6% |
| SG&A Expenses | $7.9M+57.2% | $9.5M+180.9% | N/A | $6.1M+183.9% | $5.0M+13.1% | $3.4M-17.3% | N/A | $2.1M-42.5% |
| Operating Income | $7.7M+328.3% | $41.2M+639.8% | N/A | -$8.4M-8591.8% | -$3.4M+75.8% | -$7.6M+65.2% | N/A | -$97K+99.7% |
| EBITDA | $15.9M+356.9% | $48.3M+3389.2% | N/A | -$788K-108.9% | $3.5M+155.3% | -$1.5M+89.9% | N/A | $8.8M+143.4% |
| Interest Expense | N/A | -$1.5M-217.4% | N/A | $1.5M+106.9% | $1.4M+73.1% | $1.3M+57.1% | N/A | $723K-93.0% |
| Income Tax | -$3.8M-243.5% | -$174K+83.9% | N/A | -$1.3M-255.9% | -$1.1M+53.2% | -$1.1M+57.8% | N/A | $814K+433.6% |
| Net Income | $9.6M+216.0% | $33.4M+632.4% | $38.1M+563.1% | -$462K+77.8% | $3.0M+123.4% | -$6.3M+69.2% | -$8.2M-105.9% | -$2.1M+88.7% |
| EPS (Basic) | $0.16+166.7% | $0.56+566.7% | $0.70+537.5% | -$0.01+75.0% | $0.06+123.1% | -$0.12+70.7% | -$0.16-105.5% | -$0.04+89.7% |
| EPS (Diluted) | $0.14+133.3% | $0.47+491.7% | $0.57+456.3% | -$0.01+75.0% | $0.06+123.1% | -$0.12+70.7% | -$0.16-105.5% | -$0.04+89.7% |
| Diluted Shares (Avg) | 75M+38.1% | 72M+36.0% | 67M+25.9% | 54M+4.3% | 54M+8.7% | 53M+7.7% | 53M+10.6% | 52M+9.4% |
Not reported in any period shown, so not listed: R&D Expenses.
MUX 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $992.1M+34.9% | $972.6M+33.1% | $820.2M+23.4% | $747.6M+12.0% | $735.6M+14.0% | $730.6M+14.4% | $664.6M+1.1% | $667.8M+16.6% |
| Current Assets | $129.7M+20.5% | $109.8M+3.2% | $107.9M+161.9% | $119.4M+100.4% | $107.7M+49.2% | $106.4M+104.5% | $41.2M-21.8% | $59.6M-52.6% |
| Cash & Equivalents | $78.9M+47.3% | $56.5M-17.5% | $51.0M+272.6% | $51.2M+75.4% | $53.6M+31.6% | $68.5M+211.6% | $13.7M-40.5% | $29.2M-40.5% |
| Short-Term Investments | $12.8M-19.7% | $13.5M+26.0% | $21.1M+1205.8% | $24.2M+2314.7% | $16.0M+720.9% | $10.7M | $1.6M-7.2% | $1.0M |
| Inventory | $27.2M+12.6% | $31.4M+51.2% | $26.8M+48.2% | $29.5M+34.6% | $24.1M+20.7% | $20.7M+4.4% | $18.1M-9.2% | $21.9M-19.3% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $285.5M+13.7% | $320.6M+27.9% | $274.0M+61.5% | $259.1M+56.4% | $251.1M+57.0% | $250.8M+60.5% | $169.6M+9.6% | $165.7M+19.4% |
| Current Liabilities | $63.7M+38.9% | $96.7M+113.6% | $63.8M+33.8% | $56.8M+11.5% | $45.9M+6.6% | $45.3M+19.4% | $47.7M+59.0% | $50.9M-4.7% |
| Non-Current Liabilities | $221.8M+8.0% | $224.0M+9.0% | $210.2M+72.3% | $202.3M+76.3% | $205.3M+75.6% | $205.5M+73.7% | $122.0M-2.3% | $114.8M+34.6% |
| Long-Term Debt | $120.6M-4.1% | $123.4M-1.7% | $126.2M+215.4% | $126.0M+214.9% | $125.8M+214.4% | $125.5M+213.8% | $40.0M0.0% | $40.0M0.0% |
| Total Equity | $706.6M+45.9% | $652.0M+35.9% | $546.2M+10.4% | $488.6M-2.7% | $484.5M-0.2% | $479.8M-0.6% | $495.0M-1.5% | $502.1M+15.7% |
| Retained Earnings | -$1.2B+6.1% | -$1.2B+5.6% | -$1.3B+2.6% | -$1.3B-0.9% | -$1.3B-1.0% | -$1.3B-2.3% | -$1.3B-3.5% | -$1.3B+7.3% |
Not reported in any period shown, so not listed: Accounts Receivable, Goodwill.
MUX 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $46.2M+9569.7% | $12.1M+726.4% | $3.1M+356.1% | $5.2M-77.5% | $478K-86.7% | -$1.9M-149.8% | -$1.2M-107.5% | $23.2M+1116.6% |
| Depreciation & Amortization | $8.2M+19.5% | $7.1M+14.7% | $7.2M+4.8% | $7.6M-14.3% | $6.9M-10.4% | $6.2M-17.0% | $6.9M+12.9% | $8.9M+4.9% |
| Investing Cash Flow | -$24.6M-61.6% | -$21.0M-54.8% | -$8.3M+36.1% | -$11.0M+67.8% | -$15.2M-132.5% | -$13.6M-197.1% | -$12.9M+72.8% | -$34.0M-107.8% |
| Financing Cash Flow | -$29K+89.0% | $14.5M-79.4% | $5.0M+1604.5% | $3.5M+787.5% | -$263K-101.3% | $70.5M+49757.0% | -$334K-102.5% | -$502K+10.7% |
Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
MUX 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 33.9%+7.6pp | 42.5%+14.3pp | 26.9%+25.8pp | 15.5%-10.9pp | 26.3%+3.6pp | 28.2%+13.6pp | 1.1%-21.2pp | 26.4%+16.6pp |
| Operating Margin | 13.0%+20.2pp | 55.7%+77.1pp | N/A | -16.7%-16.5pp | -7.2%+22.1pp | -21.4%+31.9pp | N/A | -0.2%+74.9pp |
| Net Margin | 16.2%+9.7pp | 45.1%+62.6pp | 59.0%+83.6pp | -0.9%+3.1pp | 6.5%+33.9pp | -17.6%+31.9pp | -24.6% | -4.0%+44.1pp |
| Return on Equity | 1.4%+0.7pp | 5.1%+6.4pp | 7.0%+8.6pp | -0.1%+0.3pp | 0.6%+3.3pp | -1.3%+2.9pp | -1.7%-29.2pp | -0.4%+3.8pp |
| Return on Assets | 1.0%+0.6pp | 3.4%+4.3pp | 4.7%+5.9pp | -0.1%+0.3pp | 0.4%+2.4pp | -0.9%+2.3pp | -1.2%-22.3pp | -0.3%+2.9pp |
| Current Ratio | 2.04-0.3x | 1.14-1.2x | 1.69+0.8x | 2.10+0.9x | 2.35+0.7x | 2.35+1.0x | 0.86-0.9x | 1.17-1.2x |
| Debt-to-Equity | 0.17-0.1x | 0.19-0.1x | 0.23+0.2x | 0.26+0.2x | 0.26+0.2x | 0.26+0.2x | 0.080.0x | 0.080.0x |
| Asset Turnover | 0.060.0x | 0.080.0x | 0.080.0x | 0.070.0x | 0.060.0x | 0.050.0x | 0.050.0x | 0.080.0x |
Not reported in any period shown, so not listed: 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 |
|---|---|---|---|---|---|---|
| McEwen Inc. MUX | FY2025 | $197.6M | -$1.3M | -0.6% | $1.1B | 52/100 |
| Solaris Resources Inc. SLSR | FY2025 | N/A | -$42.3M | N/A | $1.1B | — |
| Avino Silver & Gold Mines Ltd. (Canada) ASM | FY2025 | $92.2M | $26.6M | 28.9% | $903.6M | 49/100 |
| Metalla Royalty & Streaming Ltd. MTA | FY2025 | $11.7M | -$4.2M | -36.1% | $808.7M | 25/100 |
| Integra Resources Corp. ITRG | FY2025 | $243.9M | -$2.2M | -0.9% | $513.3M | 46/100 |
| Americas Gold and Silver Corporation USAS | FY2021 | N/A | $160.6M | N/A | $1.4B | — |
Where McEwen Inc. Ranks
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?
No, McEwen Inc. (MUX) reported a net income of -$1.3M in fiscal year 2025, with a net profit margin of -0.6%.
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 -0.6% 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 -0.2% 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 -0.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is McEwen Inc.'s P/E ratio?
McEwen Inc. (MUX) trades at 13.2x earnings, its market capitalization divided by net income of $80.6M net income, trailing 12 months to June 30, 2026. The market capitalization is $1.1B as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is McEwen Inc.'s price-to-sales ratio?
McEwen Inc. (MUX) trades at 4.3x sales, its market capitalization divided by revenue of $248.4M revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.1B as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is McEwen Inc.'s Altman Z-Score?
McEwen Inc. (MUX) has an Altman Z-Score of 0.47, 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 to 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) reported a net loss of $1.3M while generating $6.9M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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 0.37x, 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 52 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), 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. 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.