First Majestic Silver (AG) Operating Expenses (2010 - 2025)
First Majestic Silver (AG) posted Operating Expenses of $14.9 million for Q4 2025, up 4.89% quarter-over-quarter from $14.2 million in Q3 2025, and up 30.53% year-on-year from $11.4 million in Q4 2024.
First Majestic Silver (AG) Operating Expenses (2010 - 2025) Analysis & Trends
First Majestic Silver (AG) has reported Operating Expenses for 16 consecutive years, with $14.9 million the latest figure, recorded in Q4 2025.
- Operating Expenses for Q4 2025 came in at $14.9 million, up 30.53% year-over-year; the trailing twelve-month figure through Dec 2025 was $59.9 million (up 51.29% YoY), and the FY2025 annual result was $54.3 million, up 24224.0% from the prior year.
- Operating Expenses was $14.9 million for Q4 2025 at First Majestic Silver, up from $14.2 million in the prior quarter.
- Over five years, Operating Expenses peaked at $37.0 million in Q3 2023 and troughed at -$12.0 million in Q4 2023.
- Average Operating Expenses over 5 years is $11.0 million, with a median of $9.5 million recorded in 2024.
- The widest YoY moves for Operating Expenses: up 332.86% in 2023, down 246.63% in 2023.
- Over 5 years, Operating Expenses stood at $7.0 million in 2021, then grew by 16.46% to $8.2 million in 2022, then plunged by 246.63% to -$12.0 million in 2023, then surged by 195.31% to $11.4 million in 2024, then jumped by 30.53% to $14.9 million in 2025.
- Per Business Quant data, the three most recent Operating Expenses figures were $14.9 million in Q4 2025, $14.2 million in Q3 2025, and $12.5 million in Q2 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | First Majestic Silver | 8.16 Bn | 7.60 Bn | 237.81 Mn | 14.90 Mn |
| 2 | Endeavour Silver | 2.36 Bn | 2.12 Bn | 93.50 Mn | 25.60 Mn |
| 3 | Silvercorp Metals | 2.21 Bn | 1.95 Bn | 99.96 Bn | 3.14 Mn |
| 4 | New Pacific Metals | 738.90 Mn | 698.64 Mn | - | - |
| 5 | Highlander Silver | 686.31 Mn | 583.11 Mn | 74,000.00 | -20.42 Mn |
| 6 | Bunker Hill Mining | 147.77 Mn | 147.77 Mn | - | 2.38 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 14.90 Mn |
| Sep 30, 2025 | 14.20 Mn |
| Jun 30, 2025 | 12.51 Mn |
| Mar 31, 2025 | 18.30 Mn |
| Dec 31, 2024 | 11.41 Mn |
| Sep 30, 2024 | 9.44 Mn |
| Jun 30, 2024 | 9.51 Mn |
| Mar 31, 2024 | 9.24 Mn |
| Dec 31, 2023 | -30.09 Mn |
| Sep 30, 2023 | 16.87 Mn |
| Jun 30, 2023 | 11.67 Mn |
| Mar 31, 2023 | 8.45 Mn |
| Dec 31, 2022 | 8.17 Mn |
| Sep 30, 2022 | 8.55 Mn |
| Jun 30, 2022 | 9.38 Mn |
| Mar 31, 2022 | 10.28 Mn |
| Dec 31, 2021 | 7.01 Mn |
| Sep 30, 2021 | 6.34 Mn |
| Jun 30, 2021 | 8.72 Mn |
| Mar 31, 2021 | 6.96 Mn |