ENDEAVOUR SILVER CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data ENDEAVOUR SILVER CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	157	150	151	117	138	165	210	205	218	468
Cost of revenue	118	122	147	135	111	129	159	169	176	385
Gross profit	38.9	28.5	3.51	-17.4	27.3	36.4	51.5	36.6	42	82.8
Selling, general and administrative	9.28	7.91	8.63	9.98	12.7	10.1	10.6	12.4	14.1	23.3
Operating income	19.2	7.67	-17.5	-43.9	-0.79	22.2	23.5	8.7	8.3	35.7
Interest expense	1.17	0.72	0.21	0.6	1.36	0.99	1.3	1.4	1.5	14.5
Pre-tax income	12.3	7.89	-17.7	-44	-1.05	29.7	24.9	18.3	-22	-105
Income tax	8.41	-1.8	-5.27	4.06	-2.21	15.7	18.7	12.1	9.5	14.2
Net income	3.91	9.68	-12.4	-48.1	1.16	14	6.2	6.12	-31.5	-119
EBITDA	33.2	24.2	20.9	-12.4	27.3	46.2	48.6	36.6	38.2	109
EPS, basic	0.03	0.08	-0.10	-0.36	0.01	0.08	0.03	0.03	-0.13	-0.42
EPS, diluted	0.03	0.08	-0.10	-0.36	0.01	0.08	0.03	0.03	-0.13	-0.42

Balance sheet

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	72.3	38.3	33.4	23.4	61.1	103	83.4	35.3	106	215
Short-term investments	0.09	0.17	0.04	0.07	4.77	11.2	8.65	5.14	1.1	1
Receivables	25.6	34	26.9	18.6	20.1	14.5	14.1	22.3	5.2	26
Inventory	13.4	13.1	14.9	13.6	16.6	27.5	19.2	27.3	36	62.3
Total current assets	113	88.5	78	63.3	105	162	146	101	158	423
Property, plant and equipment	66.2	88.8	88.8	88.3	88	122	234	315	506	786
Lease right-of-use assets				1.34	0.86	0.66	0.81	0.71
Goodwill					0
Intangible assets				0.98	0.49	0.04	0
Total assets	181	179	177	164	211	294	399	475	719	1,236
Accounts payable	18.2	19.1	19.5	19.8	27.8	32	39.8	46.6	54	120
Short-term debt			0	2.96	3.58	4.13	6.04	3.86	5.23	8.8
Total current liabilities	31.9	22.3	23.5	24.8	34.6	40.6	52.7	58.2	78.9	277
Lease liabilities				1.07	0.92	0.79	0.81	0.58
Total liabilities	47.3	32.1	32.3	40.9	51.5	56.6	83.5	88.5	235	657
Total debt				8.88	9.67	10.5	14.5	8.5	123	12.7
Retained earnings	-323	-313	-324	-371	-368	-354	-348	-341	-372	-491
Total equity	133	147	145	123	159	237	316	386	484	579
Total liabilities and equity	181	179	177	164	211	294	399	475	719	1,236

Cash flow statement

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	3.91	9.68	-12.4	-48.1	1.16	14	6.2	6.12	-31.5	-119
Depreciation and amortization	14	16.6	38.4	31.5	28.1	24	25.2	27.9	29.9	73
Cash from operations	23	15.6	26.6	-9.58	39	23.5	55	11.8	19.1	67.4
Capital expenditures	-19.6	-39.8	-40.4	-21.5	-25.5	-54.1	-110	-118	-195	-169
Cash from investing	-19.1	-39.7	-40.4	-21.8	-29.8	-38	-111	-107	-184	-237
Debt issued			0	10.2	4.01	4.4	0	0.8
Debt repaid	-1.18	0	0	-1.34	-3.23	-3.56	-5.05	-5.99	-4.1	-160
Stock issued			8.27	23.6	26.4
Cash from financing	48.5	-10.3	8.89	21.2	27.5	56.7	36.8	48.1	236	287
Exchange rate effect	-0.46	0.4	-0.04	0.15	1.02	0.11	-0.21	-0.81	-0.5	0.3
Net change in cash	52.4	-34.4	-4.86	-10.2	36.7	42.1	-19.9	-48.1	71.1	117
Free cash flow	3.33	-24.2	-13.8	-31.1	13.4	-30.6	-54.7	-106	-176	-102

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $9.39 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	17.7%	Gross profit / revenue.
Operating margin	7.6%	Operating income / revenue.
EBITDA margin	23.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-22.4%	Pre-tax income / revenue.
Net margin	-25.5%	Net income / revenue.
FCF margin	-21.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	14.4%	Cash from operations / revenue.
Return on assets (ROA)	-12.2%	Net income / average total assets.
SG&A / revenue	5.0%	Selling, general and administrative expense / revenue.
Capex / revenue	36.2%	Capital expenditures / revenue.
D&A / revenue	15.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	114.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	30.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	27.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	97.1%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	17.1%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	24.8%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	330.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	15.0%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	184.6%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	30.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	31.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	252.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	7.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	11.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	71.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	45.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	42.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.53x	Current assets / current liabilities.
Quick ratio	0.88x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.78x	(Cash + short-term investments) / current liabilities.
Debt / assets	1.0%	Total debt / total assets.
Liabilities / assets	53.1%	Total liabilities / total assets.
Net debt	-$203.7M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-1.87x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	2.46x	Operating income / interest expense.
Working capital	$146.4M	Current assets - current liabilities.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.48x	Revenue / average total assets.
Fixed asset turnover	0.72x	Revenue / average property, plant and equipment.
Inventory turnover	7.83x	Cost of revenue / average inventory.
Days inventory	47 days	365 x average inventory / cost of revenue.
Receivables turnover	30.0x	Revenue / average receivables.
Days sales outstanding	12 days	365 x average receivables / revenue.
Days payables	83 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	-24 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	251.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.42	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	-$0.42	Net income per basic share, as reported (split-adjusted).

Valuation

Metric	Value	How it is calculated
Market cap	$2.78B	Share price x shares outstanding.
Enterprise value	$2.58B	Market cap + total debt - cash - short-term investments.
P/S	5.95x	Market cap / revenue.
P/OCF	41.2x	Market cap / cash from operations, when positive.
EV/Sales	5.51x	Enterprise value / revenue.
EV/EBIT	72.2x	Enterprise value / operating income, when both are positive.
EV/EBITDA	23.7x	Enterprise value / EBITDA, when both are positive.
FCF yield	-3.7%	Free cash flow / market cap.
Earnings yield	-4.3%	Net income / market cap (the inverse of P/E).

What was ENDEAVOUR SILVER CORP's revenue in fiscal 2025?

ENDEAVOUR SILVER CORP reported revenue of $467.5M for fiscal 2025, 114.8% higher than the year before.

Was ENDEAVOUR SILVER CORP profitable in fiscal 2025?

No. It reported a net loss of $119.1M.

How much free cash flow did ENDEAVOUR SILVER CORP generate in fiscal 2025?

Cash from operations of $67.4M minus capital expenditures of $169.2M left free cash flow of -$101.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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