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% on a YoY basis from 1.49% in Q2 2025, and down 3.77% quarter-over-quarter from 55.93% in Q1 2026.
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First Majestic Silver (AG) Gross Margin (2010 - 2026) Analysis & Trends
First Majestic Silver (AG) has reported Gross Margin for 17 consecutive years, with 53.82% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Gross Margin rose 3514.0% year-over-year to 53.82%; the trailing twelve-month figure through Jun 2026 stood at 50.4% (up 2742.0% YoY), and the FY2025 full-year result was 35.8%, up 1941.0% from the prior year.
- Gross Margin eased to 53.82% in Q2 2026 per AG's latest filing, from 55.93% in the prior quarter.
- Across five years, Gross Margin topped out at 55.93% in Q1 2026 and bottomed at 10.64% in Q4 2023.
- Historically, Gross Margin has averaged 19.7% across 5 years, with a median of 19.1% in 2024.
- The sharpest annual moves came in 2022 and 2024: Gross Margin sank 2865 bps in 2022, then soared 3863 bps in 2024.
- Over 5 years, Gross Margin stood at 8.95% in 2022, then decreased by 19 bps to 10.64% in 2023, then surged by 363 bps to 27.99% in 2024, then jumped by 83 bps to 51.26% in 2025, then gained by 5 bps to 53.82% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 53.82%, 55.93%, and 51.26% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Coeur Mining | 21.86 Bn | 20.80 Bn | 535.85 Mn | 49.36% |
| 2 | Pan American Silver | 21.66 Bn | 20.09 Bn | 457,000.00 | 40.66% |
| 3 | Hecla Mining | 13.89 Bn | 13.40 Bn | 332.52 Mn | 99.60% |
| 4 | First Majestic Silver | 10.30 Bn | 9.46 Bn | 223.62 Mn | 53.82% |
| 5 | Endeavour Silver | 2.92 Bn | 2.68 Bn | 74.00 Mn | 34.89% |
| 6 | Silvercorp Metals | 2.75 Bn | 2.56 Bn | 104.04 Mn | 75.03% |
| 7 | Americas Gold & Silver | 1.72 Bn | 1.63 Bn | 22.23 Mn | 47.97% |
| 8 | Vizsla Silver | 1.41 Bn | 1.41 Bn | - | - |
| 9 | New Pacific Metals | 1.06 Bn | 1.06 Bn | - | - |
| 10 | Santacruz Silver Mining | 918.47 Mn | 851.45 Mn | 51.14 Mn | 45.07% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 53.82% |
| Mar 31, 2026 | 55.93% |
| Dec 31, 2025 | 51.26% |
| Sep 30, 2025 | 34.76% |
| Jun 30, 2025 | 18.68% |
| Mar 31, 2025 | 26.16% |
| Dec 31, 2024 | 27.99% |
| Sep 30, 2024 | 19.52% |
| Jun 30, 2024 | 11.36% |
| Mar 31, 2024 | 24.08% |
| Dec 31, 2023 | -10.64% |
| 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% |