HECLA MINING CO/DE/ financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data HECLA MINING CO/DE/ 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	646	578	567	673	692	807	719	720	930	1,423
Cost of revenue	462	425	488	639	531	590	603	607	732	801
Gross profit	184	152	79.1	33.8	161	218	116	113	198	622
Research and development	0.24	3.28	5.44	0.54	0
General and administrative	45	35.6	36.5	35.8	35.6	34.6	43.4	42.7	45.4	57.6
Operating expenses	74.6	92.3	118	80.5	94.1	134	129	158	91.9	107
Operating income	109	60.1	-39.1	-46.7	67	83.4	-12.4	-44.7	106	515
Interest expense	21.8	38	40.9	48.4	49.6	41.9	-42.8	-43.3	-49.8	-41.6
Other non-operating income	-19.8	-67.7	5.86	-66.5	-68.2	-77.9	-32.5	-38.3	-40.1	-35.6
Pre-tax income	89.7	-7.56	-33.3	-113	-1.26	5.53	-44.9	-83	66.2	479
Income tax	28.1	21	-6.7	-18.3	-8.2	-29.6	-7.57	1.22	30.4	157
Income from continuing operations	117
Net income	61.6	-28.5	-26.6	-94.9	-9.46	35.1	-37.3	-84.2	35.8	322
EBITDA	234	187	102	150	222	256	133	119	297	680
EPS, basic	0.15	-0.07	-0.06	-0.19	-0.02	0.06	-0.07	-0.14	0.06	0.49
EPS, diluted	0.15	-0.07	-0.06	-0.19	-0.02	0.06	-0.07	-0.14	0.06	0.49
Shares, basic (weighted)	407	418	456	490	527	536	557	606	621	652
Shares, diluted (weighted)	410	418	456	490	527	542	557	606	623	656
Dividend per share			0.01	0.01	0.02	0.04	0.04	0.04	0.01	0.01

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	172	186	27.4	62.5	130	210	105	106	26.9	242
Short-term investments	29.1	33.8	0						0	59.6
Receivables	20.1	14.8	4.18	12	27.9	36.4	45.1	19.4	31.5	170
Inventory				30.1	57.6		37.3	28.8	35	26.5
Other current assets	12.1	10.9	11.2	12	19.1	19.3	16.5	27.1	33.3	23.4
Total current assets	291	321	164	179	284	342	268	260	214	629
Property, plant and equipment	2,033	1,999	2,520	2,447	2,378	2,311	2,570	2,666	2,694	2,131
Lease right-of-use assets			0	16.4	10.6	12.4	11.1	8.35	7.54	8.86
Long-term investments	5	7.56	6.58	6.21	15.1	10.8	24	33.7	33.9	47.8
Other non-current assets	4.88	14.5	10.2	7.34	8.08	6.48	32.3	38.5	30.2	31.9
Total assets	2,356	2,345	2,704	2,661	2,700	2,729	2,927	3,011	2,981	3,561
Accounts payable	60.1	46.5	77.9	57.7	68.5	68.1	84.7	81.6	89	77.6
Accrued liabilities	36.5	31.3	30	26.9	31.8	28.7	37.6	28.2	22.8	30.2
Deferred revenue			0
Short-term debt	0.47							0	33.6	0
Total current liabilities	126	112	136	117	147	160	178	157	198	232
Long-term debt	501	502	533	505	507	516	518	653	509	263
Lease liabilities			0	10.8	7.63	10	8.6	7.8	7.1	8.2
Other non-current liabilities	11.5	13	9.89	6.86	4.35	14.9	11.7	16.5	11.3	33.9
Total liabilities	892	884	1,013	964	986	968	948	1,043	942	969
Total debt	501	502	533	505
Paid-in capital	1,597	1,620	1,880	1,974	2,004	2,034	2,260	2,344	2,418	2,643
Retained earnings	-185	-218	-248	-349	-368	-354	-404	-504	-494	-182
Treasury stock	-15.2	-18	-20.7	-23	-23.5	-28	-31.7	-33.7	-34.9	-35.8
Other comprehensive income	-34.6	-23.4	-42.5	-37.3	-32.9	-28.5	2.45	5.84	-10.3	-3.33
Shareholders' equity	1,462	1,461	1,690	1,697	1,714	1,761	1,979	1,968	2,040	2,592
Total equity	1,462	1,461	1,690	1,697	1,714	1,761	1,979	1,968	2,040	2,592
Total liabilities and equity	2,372	2,345	2,704	2,661	2,700	2,729	2,927	3,011	2,981	3,561
Shares outstanding	416	420	508	523	532

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	61.6	-28.5	-26.6	-94.9	-9.46	35.1	-37.3	-84.2	35.8	322
Depreciation and amortization	125	126	141	196	155	173	145	164	190	166
Stock-based compensation	6.18	6.32	6.28	5.67	6.46	6.08	6.01	6.6	8.66	10.9
Deferred income tax	3.68	20.6	-11.5	-30.8	-7.79	-43	-16.6	-5.95	19.7	130
Change in receivables	4.23	-2.41	9.84	-10.9	-1.08	-5.41	8.67	25.1	-17.2	-137
Change in inventory	-5.7	-3.74	-27.5	16.1	-13.2	16.9	-18.2	-24	-32.8	-21.5
Change in payables	-6.54	-16.4	17.8	-24.4	19.4	-0.8	-25	0.6	-2.83	-0.77
Cash from operations	225	116	94.2	121	181	220	89.9	75.5	218	563
Capital expenditures	-165	-98	-137	-121	-91	-109	-149	-224	-214	-252
Acquisitions	-2.73	0	-139	0	0	0	8.95	0.23	0	0
Purchases of investments	-48.9	-56.6	-32	-0.39	-2.22	0	-32	-8.96	-0.07	-21.9
Sales and maturities of investments	18.6	50	64.9	0	0
Cash from investing	-197	-96.6	-237	-120	92.9	-107	-187	-231	-213	-271
Debt issued		0	102	280	716	0	25	239	279	153
Debt repaid	-2.72	-0.47	-106	-280	-717	0	-25	-111	-384	-427
Stock issued	8.12	9.61	6.74	49	0	0	17.3	56.7	58.4	216
Share buybacks	-4.44	-2.87	-2.69	-2.23	-2.75	-4.53	-3.68	-2.04	-1.2	-0.89
Dividends paid	-3.87	-3.98	-4.39	-4.91	-8.6	-20.7	-12.9	-15.7	-25.3	-10.4
Cash from financing	-12	-5.25	-14.9	33.2	-19.4	-32.6	-7.5	156	-83.8	-78
Exchange rate effect	-0.07	1.1	-1.52	0.88
Net change in cash	15.8	15.2	-159	35.1	67.4	80.2	-105	1.63	-79.5	215
Free cash flow	60.5	17.8	-42.7	-0.56	89.8	111	-59.5	-148	3.79	310
Interest paid	19.3	35.6	38.4	43	34.9	37.6	37.2	37.7	46.1	45.1
Income taxes paid	6.33	-23.1	0.12	-3.39	7.91	12.1	14.4	8.91	6.57	8.73

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $18.19 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	51.7%	Gross profit / revenue.
Operating margin	44.6%	Operating income / revenue.
EBITDA margin	54.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	39.9%	Pre-tax income / revenue.
Net margin	19.2%	Net income / revenue.
FCF margin	27.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	42.1%	Cash from operations / revenue.
Effective tax rate	25.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	12.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	10.5%	Net income / average total assets.
Return on invested capital (ROIC)	26.4%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	0.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	14.4%	Capital expenditures / revenue.
D&A / revenue	10.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	53.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	25.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	15.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	213.9%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	75.0%	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	31.0%	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	384.4%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 5y	50.4%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	129.3%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	72.4%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	25.1%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	798.6%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	716.7%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	157.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	84.3%	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	25.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	8,097.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	28.1%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	-35.6%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	-9.3%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	27.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	9.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	8.6%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	19.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	6.7%	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	5.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	5.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	5.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	4.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	5.20x	Current assets / current liabilities.
Quick ratio	4.12x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	3.27x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	15.9%	Total liabilities / total assets.
Working capital	$623.4M	Current assets - current liabilities.
Tangible book value	$2.68B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.55x	Revenue / average total assets.
Fixed asset turnover	0.82x	Revenue / average property, plant and equipment.
Receivables turnover	13.7x	Revenue / average receivables.
Days sales outstanding	27 days	365 x average receivables / revenue.
FCF conversion	144.9%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	34.1%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.49	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.
Revenue per share	$2.58	Revenue / diluted weighted shares.
FCF per share	$0.72	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.09	Cash from operations / diluted weighted shares.
Book value per share	$3.96	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$3.96	Tangible book value / shares outstanding.
Cash per share	$0.72	(Cash + short-term investments) / shares outstanding.
Payout ratio	3.2%	Dividends paid / net income, when net income is positive.
Dividends / FCF	2.2%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	0.9%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$12.22B	Share price x shares outstanding.
Enterprise value	$11.73B	Market cap + total debt - cash - short-term investments.
P/E	36.6x	Market cap / net income. Only when net income is positive.
P/S	7.01x	Market cap / revenue.
P/B	4.56x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	4.56x	Market cap / tangible book value, when positive.
P/FCF	25.2x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	16.6x	Market cap / cash from operations, when positive.
EV/Sales	6.73x	Enterprise value / revenue.
EV/EBIT	15.1x	Enterprise value / operating income, when both are positive.
EV/EBITDA	12.3x	Enterprise value / EBITDA, when both are positive.
EV/FCF	24.2x	Enterprise value / free cash flow, when both are positive.
FCF yield	4.0%	Free cash flow / market cap.
Earnings yield	2.7%	Net income / market cap (the inverse of P/E).
Dividend yield	0.1%	Dividends paid over the period / market cap.
Shareholder yield	0.1%	(Dividends paid + share buybacks) / market cap.

What was HECLA MINING CO/DE/'s revenue in fiscal 2025?

HECLA MINING CO/DE/ reported revenue of $1.42B for fiscal 2025, 53% higher than the year before.

Was HECLA MINING CO/DE/ profitable in fiscal 2025?

Yes. Net income was $321.7M, a net margin of 22.6%.

How much free cash flow did HECLA MINING CO/DE/ generate in fiscal 2025?

Cash from operations of $562.6M minus capital expenditures of $252.4M left free cash flow of $310.2M.

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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