SILVERCORP METALS INC financial statements

Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data SILVERCORP METALS INC 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

	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	163	170	171	159	192	218	208	215	299
Cost of revenue	75.3	82.2	99.6	99.5	108	134	137	135	175
Gross profit	88.2	87.9	70.9	59.4	84.2	84.3	70.8	80.6	124
Selling, general and administrative							4.44	4.66
General and administrative	5.52	6.67	5.9	5.19	4.84	4.75	4.66
Operating income	73.3	75.4	70.1	52.2	71.7	62.6	33.7	63.9	103
Interest expense	0.76	0.45	0.63	2.07	1.99	10.7	3.26	0.21	6.71
Interest income	2.21	2.84	3.48	4.02	3.77	5.22	4.65	6.25	8.52
Pre-tax income	74.7	77.8	72.9	54.1	73.5	57.1	35.1	70	105
Income tax	19.2	18.9	20.9	8.91	-13	-13.8	-14	20.3	26.2
Net income to minority interests	11.8	11.9	12.3	10.9	14.1	12.7	0.49	13.4	20.6
Net income	43.7	47	39.7	34.3	46.4	30.6	20.6	36.3	58.2
EBITDA	91	93.7	90.1	72.9	93.2	87.6	35.4	91.2	134
EPS, basic	0.26	0.28	0.24	0.20	0.27	0.17	0.12	0.21	0.29
EPS, diluted	0.25	0.27	0.23	0.20	0.26	0.17	0.12	0.20	0.28

Balance sheet

	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	73	49.2	67.4	65.8	119	113	146	153	364
Receivables	1.31	0.68	0.47	1.18	1.49	3.62	1.81	2.2	1.08
Inventory	8.71	11	10.8	8.43	9.77	9.12	8.34	7.4	8.03
Total current assets	111	123	135	158	221	232	219	202	387
Property, plant and equipment	65.2	71.2	68.6	66.7	75.7	79.4	80.1	79.9	93.8
Lease right-of-use assets			0.36
Total assets	398	477	499	513	653	724	677	703	1,139
Accounts payable	30.4	25.2	29.9	23.1	30.3	39.7	36.7	41.8	63.9
Short-term debt			4.48
Total current liabilities	40.2	32.3	37.9	27.8	37.2	46	41.2	47.2	76.6
Lease liabilities				1.5	1.08	0.61	0.31	1.1	1.05
Total liabilities	80	78.7	85.9	73.8	86.9	103	97	106	306
Retained earnings	42.7	86.3	117	146	188	214	230	262	306
Shareholders' equity	263	329	347	369	468	512	489	507	703
Minority interests	54.8	68.9	65.7	70.3	98.2	108	90.8	89.8	131
Total equity	318	398	413	439	566	620	580	597	833
Total liabilities and equity	398	477	499	513	653	724	677	703	1,139

Cash flow statement

	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	55.5	58.9	52	45.2	60.5	43.3	21.1	49.7	78.8
Depreciation and amortization	17.7	18.2	20	20.7	21.4	25.1	1.68	27.3	31
Cash from operations	77.5	67.9	70.4	77.2	85.9	107	85.6	91.6	139
Capital expenditures	-7.99	-6.15	-6.26	-7.4	-8.97	-10.7	-13.3	-11.5	-6.22
Cash from investing	-40.6	-81.7	-32	-70.8	-41	-107	-26.5	-65.7	-44.7
Debt issued			4.53						143
Debt repaid	-4.33			-4.37					-13.3
Stock issued	0.9	0.55	1.85	8	3.54	1.91
Dividends paid	-1.59	-3.36	-4.21	-4.29	-4.37	-4.41	-4.43	-4.43	-4.95
Cash from financing	-7.23	-14.8	-15.2	-2.93	-1.45	-7.43	-18	-16.8	115
Exchange rate effect	1.39	4.8	-4.88	-5.19	9.47	1.24	-8.75	-1.81	1.96
Net change in cash	31	-23.8	18.2	-1.66	53	-5.43	32.4	7.25	211
Free cash flow	69.5	61.7	64.1	69.8	76.9	96.6	72.4	80	132
Interest paid	0.96		0.14	0.16	0.1	0.07	0.04	0.02	0.13

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $11.34 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	41.3%	Gross profit / revenue.
Operating margin	34.5%	Operating income / revenue.
EBITDA margin	44.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	35.1%	Pre-tax income / revenue.
Net margin	19.5%	Net income / revenue.
FCF margin	44.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	46.4%	Cash from operations / revenue.
Effective tax rate	25.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	9.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	6.3%	Net income / average total assets.
Return on invested capital (ROIC)	22.3%	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%.
Capex / revenue	2.1%	Capital expenditures / revenue.
D&A / revenue	10.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	38.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	11.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	13.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	53.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	13.6%	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	15.8%	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	61.4%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	18.1%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	14.6%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	47.1%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	15.2%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	13.0%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	60.3%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	23.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	11.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	40.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	18.1%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	7.0%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	51.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	8.9%	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	12.4%	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	65.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	11.1%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	13.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	38.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	11.1%	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	13.8%	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	62.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	16.3%	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	17.3%	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	5.05x	Current assets / current liabilities.
Quick ratio	4.77x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	4.75x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	26.8%	Total liabilities / total assets.
Interest coverage	15.4x	Operating income / interest expense.
Working capital	$310.4M	Current assets - current liabilities.
Tangible book value	$702.7M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.32x	Revenue / average total assets.
Fixed asset turnover	3.44x	Revenue / average property, plant and equipment.
Inventory turnover	22.7x	Cost of revenue / average inventory.
Days inventory	16 days	365 x average inventory / cost of revenue.
Receivables turnover	182x	Revenue / average receivables.
Days sales outstanding	2 days	365 x average receivables / revenue.
Days payables	110 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	-92 days	Days inventory + days sales outstanding - days payables.
FCF conversion	227.5%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	4.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.28	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	$0.29	Net income per basic share, as reported (split-adjusted).
Payout ratio	8.5%	Dividends paid / net income, when net income is positive.
Dividends / FCF	3.7%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.51B	Share price x shares outstanding.
Enterprise value	$2.14B	Market cap + total debt - cash - short-term investments.
P/E	43.1x	Market cap / net income. Only when net income is positive.
P/S	8.39x	Market cap / revenue.
P/B	3.57x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	3.57x	Market cap / tangible book value, when positive.
P/FCF	18.9x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	18.1x	Market cap / cash from operations, when positive.
EV/Sales	7.17x	Enterprise value / revenue.
EV/EBIT	20.8x	Enterprise value / operating income, when both are positive.
EV/EBITDA	16.0x	Enterprise value / EBITDA, when both are positive.
EV/FCF	16.2x	Enterprise value / free cash flow, when both are positive.
FCF yield	5.3%	Free cash flow / market cap.
Earnings yield	2.3%	Net income / market cap (the inverse of P/E).
Dividend yield	0.2%	Dividends paid over the period / market cap.
Shareholder yield	0.2%	(Dividends paid + share buybacks) / market cap.
PEG	2.38x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was SILVERCORP METALS INC's revenue in fiscal 2025?

SILVERCORP METALS INC reported revenue of $298.9M for fiscal 2025, 38.9% higher than the year before.

Was SILVERCORP METALS INC profitable in fiscal 2025?

Yes. Net income was $58.2M, a net margin of 19.5%.

How much free cash flow did SILVERCORP METALS INC generate in fiscal 2025?

Cash from operations of $138.6M minus capital expenditures of $6.2M left free cash flow of $132.4M.

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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