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Ferroglobe vs Hudbay Minerals: revenue, profit, margins and growth compared

Ferroglobe brought in $1.3B of revenue in fiscal 2025, Hudbay Minerals $2.2B in fiscal 2025. Revenue changed by -18.8% at Ferroglobe and +9.4% at Hudbay Minerals on the year before, so Hudbay Minerals grew faster. Ferroglobe kept -12.8% of its revenue as net profit, Hudbay Minerals 25.7%. Free cash flow was -$10.2M at Ferroglobe and $240.6M at Hudbay Minerals.

Side by side, latest fiscal year

GSMHBM
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1.3B$2.2B
Revenue growth-18.8%+9.4%
Net income-$170.7M$568.5M
Net margin-12.8%25.7%
Free cash flow-$10.2M$240.6M
Free cash flow margin-0.8%10.9%
Earnings per share (diluted)-$0.91$1.44
Cash$122.8M$568.9M
Debt$140M$1B
Price to earningsn/an/a
Market value$760.5M$11.8B
Dividend yieldn/an/a
Rank by revenue in sector#34 of 71 · Basic materials#21 of 71 · Basic materials

Over the years

Revenue
GSM FY2018: $2.2BGSM FY2019: $1.6BGSM FY2020: $1.1BGSM FY2021: $1.8BGSM FY2022: $2.6BGSM FY2023: $1.7BGSM FY2024: $1.6BGSM FY2025: $1.3BHBM FY2018: $1.5BHBM FY2019: $1.2BHBM FY2020: $1.1BHBM FY2021: $1.5BHBM FY2022: $1.5BHBM FY2023: $1.7BHBM FY2024: $2BHBM FY2025: $2.2BFY18FY19FY20FY21FY22FY23FY24FY25
GSM $1.3BHBM $2.2B
Net income
GSM FY2018: $43.7MGSM FY2019: -$280.6MGSM FY2020: -$246.3MGSM FY2021: -$110.6MGSM FY2022: $440.3MGSM FY2023: $82.7MGSM FY2024: $23.5MGSM FY2025: -$170.7MHBM FY2018: $85.4MHBM FY2019: -$343.8MHBM FY2020: -$144.6MHBM FY2021: -$244.4MHBM FY2022: $70.4MHBM FY2023: $66.4MHBM FY2024: $76.7MHBM FY2025: $568.5MFY18FY19FY20FY21FY22FY23FY24FY25
GSM -$170.7MHBM $568.5M
Net margin
GSM FY2018: 1.9%GSM FY2019: -17.4%GSM FY2020: -21.5%GSM FY2021: -6.2%GSM FY2022: 16.9%GSM FY2023: 5.0%GSM FY2024: 1.4%GSM FY2025: -12.8%HBM FY2018: 5.8%HBM FY2019: -27.8%HBM FY2020: -13.2%HBM FY2021: -16.3%HBM FY2022: 4.8%HBM FY2023: 3.9%HBM FY2024: 3.8%HBM FY2025: 25.7%FY18FY19FY20FY21FY22FY23FY24FY25
GSM -12.8%HBM 25.7%
Revenue growth
GSM FY2019: -28.0%GSM FY2020: -29.1%GSM FY2021: +55.4%GSM FY2022: +46.0%GSM FY2023: -36.5%GSM FY2024: -0.4%GSM FY2025: -18.8%HBM FY2019: -16.0%HBM FY2020: -11.7%HBM FY2021: +37.5%HBM FY2022: -2.7%HBM FY2023: +15.6%HBM FY2024: +19.6%HBM FY2025: +9.4%FY19FY20FY21FY22FY23FY24FY25
GSM -18.8%HBM +9.4%
Free cash flow
GSM FY2018: $10.7MGSM FY2019: -$63.6MGSM FY2020: $124MGSM FY2021: -$28.9MGSM FY2022: $352.9MGSM FY2023: $94.7MGSM FY2024: $167.1MGSM FY2025: -$10.2MHBM FY2018: $288.7MHBM FY2019: $51.7MHBM FY2020: -$121.7MHBM FY2021: $32.9MHBM FY2022: $178.8MHBM FY2023: $195.8MHBM FY2024: $319.1MHBM FY2025: $240.6MFY18FY19FY20FY21FY22FY23FY24FY25
GSM -$10.2MHBM $240.6M

Fiscal years as each company reports them; the two may end in different months.

Questions about Ferroglobe and Hudbay Minerals

Which is bigger by revenue, Ferroglobe or Hudbay Minerals?

Hudbay Minerals is bigger by revenue: $2.2B in fiscal 2025, against $1.3B for Ferroglobe in fiscal 2025.

Which keeps more of its revenue as profit, Ferroglobe or Hudbay Minerals?

Ferroglobe had a net margin of -12.8% in fiscal 2025; Hudbay Minerals had 25.7% in fiscal 2025.

Which grew revenue faster, Ferroglobe or Hudbay Minerals?

In their latest fiscal years revenue changed by -18.8% at Ferroglobe and +9.4% at Hudbay Minerals.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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