First Majestic Silver (AG) Gross Margin (2010 - 2026)
First Majestic Silver's (AG) quarterly Gross Margin came in at 53.82% in Q2 2026, up 3514.0% YoY from 1.49% in Q2 2025, and up 4.99% on a QoQ basis from 51.26% in Q4 2025.
First Majestic Silver (AG) Gross Margin (2010 - 2026) Analysis & Trends
First Majestic Silver (AG) has 17 years of Gross Margin data on file, last reported at 53.82% in Q2 2026.
- Quarterly Gross Margin rose 3514.0% year-over-year to 53.82% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 42.69% (up 1216.0% YoY) and the FY2025 annual result came in at 35.8%, up 1941.0% from the prior year.
- Gross Margin climbed to 53.82% in Q2 2026, from 51.26% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 53.82% in Q2 2026 to a low of 8.95% in Q4 2022.
- A 5-year average of 20.47% and a median of 18.68% in 2025 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2022 — Gross Margin plunged 2865 bps — and 2026, when it soared 3514 bps.
- Tracing AG's Gross Margin over 5 years: stood at 8.95% in 2022, then surged by 246 bps to 13.07% in 2023, then surged by 114 bps to 27.99% in 2024, then surged by 83 bps to 51.26% in 2025, then increased by 5 bps to 53.82% in 2026.
- The last three Gross Margin figures came in at 53.82% (Q2 2026), 51.26% (Q4 2025), and 34.76% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | First Majestic Silver | 10.46 Bn | 9.21 Bn | 223.62 Mn | 53.82% |
| 2 | Endeavour Silver | 3.24 Bn | 3.01 Bn | 74.00 Mn | 34.89% |
| 3 | Silvercorp Metals | 2.80 Bn | 2.41 Bn | 84.75 Mn | 61.12% |
| 4 | New Pacific Metals | 1.26 Bn | 1.22 Bn | - | - |
| 5 | Highlander Silver | 1.08 Bn | 978.81 Mn | 491,000.00 | 1.30% |
| 6 | Bunker Hill Mining | 181.61 Mn | 181.61 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 53.82% |
| Dec 31, 2025 | 51.26% |
| Sep 30, 2025 | 34.76% |
| Jun 30, 2025 | 18.68% |
| Mar 31, 2025 | 51.74% |
| Dec 31, 2024 | 27.99% |
| Sep 30, 2024 | 19.52% |
| Jun 30, 2024 | 11.36% |
| Mar 31, 2024 | 24.08% |
| Dec 31, 2023 | 13.07% |
| Sep 30, 2023 | 9.78% |
| Jun 30, 2023 | 0.78% |
| Mar 31, 2023 | 21.08% |
| Dec 31, 2022 | -8.95% |
| Sep 30, 2022 | 2.09% |
| Jun 30, 2022 | 7.28% |
| Mar 31, 2022 | 9.61% |
| Dec 31, 2021 | 19.70% |
| Sep 30, 2021 | 2.82% |
| Jun 30, 2021 | 19.10% |