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Fortuna Silver Mines Inc (FSM) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

BASIC MATERIALS · GOLD · DATA UPDATED 2026-08-29

Fortuna Silver Mines Inc (FSM) operates in the GOLD industry and is headquartered in Vancouver, Canada. Its market capitalization is roughly $4 billion. In the fiscal year ended 2025-12-31, FSM reported $960M in revenue and $302M in net income.

Fortuna Mining Corp. engages in the precious and base metal mining and related activities in Argentina, Côte d'Ivoire, Mexico, Peru, and Senegal. The company operates through Mansfield, Sango, and Bateas segments.

Interactive charts & full statements → Open the FSM valuation workbench →

FSM Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2005-12-31
Total Revenue	$1.2B	$960M	$1.1B	$842M	$681M	$600M	$279M	$257M	$263M	$268M	$210M	$155M	$174M	$137M	$161M	$110M	$74M	$51M	$22M	$32M	—
Gross Profit	$676M	$468M	$344M	$190M	$147M	$205M	$110M	$85M	$97M	$110M	$81M	$44M	$60M	$42M	$71M	$61M	$45M	$28M	$3M	$13M	—
Gross Margin %	57.1%	48.7%	32.4%	22.6%	21.5%	34.2%	39.5%	32.9%	36.7%	40.9%	38.3%	28.2%	34.6%	30.4%	43.9%	55.4%	60.7%	53.9%	15.7%	41.8%	—
Operating Income (EBIT)	$621M	$370M	$228M	$0M	($114M)	$137M	$57M	$34M	$62M	$110M	$49M	($2M)	$34M	($10M)	$45M	$38M	$30M	$14M	($5M)	$0M	($1M)
Operating Margin %	52.5%	38.5%	21.5%	-0.1%	-16.7%	22.8%	20.5%	13.3%	23.4%	41.1%	23.1%	-1.2%	19.4%	-7.0%	28.1%	34.6%	40.7%	28.0%	-22.5%	0.3%	—
Net Income	$379M	$302M	$129M	($51M)	($128M)	$58M	$22M	$24M	$34M	$66M	$18M	($11M)	$16M	($19M)	$31M	$20M	$13M	$1M	($1M)	($3M)	($1M)
Net Margin %	32.0%	31.5%	12.1%	-6.0%	-18.8%	9.7%	7.7%	9.2%	12.9%	24.7%	8.5%	-6.9%	9.0%	-13.9%	19.5%	17.7%	17.5%	1.2%	-3.7%	-8.8%	—
EBITDA	$812M	$629M	$474M	$231M	$59M	$242M	$107M	$92M	$114M	$150M	$82M	$22M	$57M	$11M	$67M	$48M	$35M	$12M	$1M	$6M	($1M)
Earnings Per Share (EPS)	$1.16	$0.90	$0.41	$-0.17	$-0.44	$0.23	$0.12	$0.14	$0.21	$0.42	$0.13	$-0.08	$0.12	$-0.15	$0.25	$0.16	$0.12	$0.01	$-0.01	$-0.04	—
Shares Outstanding (M)	329M	335M	311M	295M	291M	249M	186M	165M	162M	158M	138M	129M	128M	127M	125M	125M	111M	92M	84M	72M	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FSM Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$318M	$342M	$272M	$251M	$230M	$290M	$302M	$275M
Gross Profit	$183M	$212M	$148M	$133M	$105M	$116M	$107M	$87M
Gross Margin %	57.6%	61.9%	54.4%	53.0%	45.6%	39.9%	35.4%	31.6%
Operating Income (EBIT)	$163M	$182M	$121M	$155M	$84M	$92M	$53M	$73M
Operating Margin %	51.2%	53.2%	44.6%	61.5%	36.3%	31.7%	17.5%	26.4%
Net Income	$76M	$111M	$69M	$124M	$37M	$59M	$11M	$51M
Net Margin %	23.7%	32.4%	25.4%	49.2%	16.2%	20.2%	3.8%	18.4%
EBITDA	$205M	$231M	$166M	$211M	$136M	$156M	$137M	$137M
Earnings Per Share (EPS)	$0.23	$0.33	$0.23	$0.37	$0.12	$0.19	$0.04	$0.16
Shares Outstanding (M)	329M	333M	306M	335M	309M	308M	312M	315M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FSM Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2005-12-31
Cash from Operations (CFO)	$623M	$476M	$366M	$302M	$194M	$147M	$93M	$63M	$83M	$70M	$53M	$55M	$60M	$45M	$54M	$36M	$21M	$14M	$7M	$13M	$0M
Capital Expenditures (CapEx)	$206M	$181M	$204M	$221M	$251M	$152M	$93M	$224M	$98M	$47M	$40M	$57M	$39M	$61M	$45M	$77M	$36M	$14M	$23M	$16M	$1M
Free Cash Flow (FCF)	$416M	$294M	$162M	$81M	($57M)	($5M)	$0M	($161M)	($14M)	$23M	$12M	($2M)	$21M	($16M)	$9M	($41M)	($15M)	$0M	($16M)	($3M)	($1M)
FCF Margin %	35.2%	30.7%	15.2%	9.6%	-8.4%	-0.9%	0.1%	-62.6%	-5.5%	8.6%	5.9%	-1.5%	12.2%	-11.3%	5.6%	-37.4%	-20.7%	-0.9%	-71.8%	-9.7%	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FSM Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$138M	$209M	$165M	$110M	$67M	$126M	$150M	$93M
Capital Expenditures (CapEx)	$68M	$45M	$45M	$48M	$47M	$39M	$62M	$50M
Free Cash Flow (FCF)	$70M	$164M	$120M	$62M	$20M	$87M	$88M	$43M
FCF Margin %	22.1%	47.9%	44.0%	24.7%	8.8%	29.8%	29.2%	15.6%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FSM Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$2.5B	$2.4B	$2.1B	$2.0B	$1.9B	$2.0B	$1.1B	$936M	$787M	$707M	$563M	$380M	$350M	$302M	$316M	$272M	$243M	$140M	$116M	$126M	—
Cash & Cash Equivalents	$607M	$553M	$231M	$128M	$80M	$107M	$132M	$83M	$91M	$183M	$82M	$72M	$43M	$32M	$59M	$39M	$70M	$31M	$30M	$48M	$1M
Total Liabilities	$678M	$683M	$649M	$680M	$588M	$592M	$330M	$301M	$184M	$143M	$140M	$115M	$78M	$55M	$52M	$43M	$37M	$27M	$17M	$17M	($35M)
Total Debt (Short + Long-Term)	$170M	$156M	$146M	$222M	$229M	$168M	$166M	$155M	$73M	$41M	$42M	$40M	$42M	$40M	$1M	$1M	$2M	$2M	$1M	$1M	$5M
Total Shareholders' Equity	$1.8B	$1.7B	$1.4B	$1.2B	$1.2B	$1.4B	$726M	$635M	$603M	$564M	$423M	$264M	$273M	$248M	$264M	$228M	$206M	$113M	$89M	$102M	$35M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive FSM viewer.

Other Companies in GOLD

AUGO · Aura Minerals Inc. Common Shares — $7 billion
OR · Osisko Gold Ro — $7 billion
OGC · OceanaGold Corporation — $6 billion
ARIS · Aris Mining Corporation — $4 billion
SA · Seabridge Gold Inc. — $3 billion
AAUC · Allied Gold Corporation — $3 billion
HYMC · Hycroft Mining Holding Corporation — $2 billion
ELE · Elemental Royalty Corporation — $2 billion

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