McEwen Mining Inc. (MUX) Income Statement
MUX 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMUX revenue and net income
Where MUX's revenue goes
2025Each bar shows an amount and its share of revenue. MUX kept 17.4% of revenue as net income.
MUX profit margins
MUX growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +13.2% | +21.4% | +13.5% | +10.5% |
| Gross profit | −29.8% | — | — | −5.2% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MUX quarterly EPS vs estimates
McEwen Mining beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 4, 2026 (estimate $0.09).
MUX income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $197.6M | $174.5M | $166.2M | $110.4M | $136.5M | $104.8M | $117.0M | $128.8M | $67.7M | $60.4M |
| Cost of revenue | $175.8M | $143.5M | $148.5M | $111.0M | $143.0M | $131.7M | $108.0M | $96.1M | $49.0M | $35.5M |
| Gross profit | $21.7M | $30.9M | $17.8M | −$544,000 | −$6.5M | −$26.9M | $9.0M | $32.1M | $18.7M | $24.9M |
| Research & development | — | — | — | — | — | — | — | $3.7M | $3.8M | $3.9M |
| Sales, general & admin | $26.7M | $17.2M | $98.1M | $11.9M | $11.4M | $9.2M | $12.8M | $23.2M | $12.3M | $12.7M |
| Total operating expenses | $34.7M | $81.5M | $179.8M | $94.9M | $57.8M | $126.2M | $72.9M | $62.6M | $44.0M | $22.5M |
| Operating income | −$12.9M | −$50.6M | −$162.1M | −$95.4M | −$64.3M | −$153.2M | −$63.9M | −$47.2M | −$26.3M | $15.3M |
| Interest income | $3.6M | $2.7M | $36.9M | $15.5M | $5.7M | $7.0M | $139,000 | $1.0M | $369,000 | $2.8M |
| Interest expense | $7.2M | $4.6M | $132,000 | $7.8M | $6.2M | $7.4M | $6.8M | $1.6M | $938,000 | $835,000 |
| Income before taxes | $6.9M | −$46.7M | $67.0M | −$80.3M | −$64.2M | −$153.7M | −$63.6M | −$47.6M | −$26.0M | $17.3M |
| Income taxes | −$27.5M | −$3.0M | $33.9M | $5.8M | −$7.3M | −$1.4M | −$3.8M | −$2.8M | −$15.4M | −$3.7M |
| Net income | $34.4M | −$43.7M | $55.3M | −$81.1M | −$56.7M | −$152.3M | −$59.7M | −$44.9M | −$10.6M | $21.1M |
| EBITDA | $42.0M | $18.2M | −$73.9M | −$78.7M | −$32.5M | −$123.2M | −$31.2M | −$29.6M | −$19.0M | $6.0M |
| EPS (diluted) | $0.72 | −$0.87 | −$2.30 | −$1.67 | −$1.30 | −$1.71 | −$1.70 | −$1.30 | $0.05 | $0.07 |
| Gross margin | 11.0% | 17.7% | 10.7% | −0.5% | −4.7% | −25.7% | 7.7% | 24.9% | 27.6% | 41.2% |
| Operating margin | −6.5% | −29.0% | −97.5% | −86.4% | −47.1% | −146.2% | −54.6% | −36.6% | −38.8% | 25.4% |
| Net margin | 17.4% | −25.0% | 33.3% | −73.4% | −41.5% | −145.4% | −51.1% | −34.8% | −15.7% | 34.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $59.2M | $74.0M | $64.6M | $50.5M | $46.7M | $35.7M | $33.5M | $52.2M | $47.5M | $41.2M | $58.7M | $38.4M |
| Cost of revenue | $39.2M | $48.9M | $47.2M | $50.4M | $34.4M | $25.6M | $33.2M | $38.4M | $36.7M | $35.2M | $45.0M | $34.6M |
| Gross profit | $20.1M | $25.1M | $17.4M | $101,999 | $12.3M | $10.1M | $363,000 | $13.8M | $10.8M | $6.0M | $13.6M | $3.8M |
| Sales, general & admin | $7.9M | $9.5M | $12.2M | $6.1M | $10.4M | $7.0M | $8.9M | $7.5M | $9.4M | $7.9M | $10.0M | $8.4M |
| Total operating expenses | $12.4M | $14.2M | $23.1M | −$1.6M | $15.7M | $17.7M | $14.9M | $13.9M | $24.7M | $28.0M | $61.0M | $32.6M |
| Operating income | $7.7M | $10.9M | −$5.7M | $1.7M | −$3.4M | −$7.6M | −$14.5M | −$97,000 | −$13.9M | −$22.0M | −$47.4M | −$28.8M |
| Interest income | $1.4M | — | $8.5M | $6.7M | $5.2M | $154,000 | $1.4M | $1.4M | — | — | — | $712,000 |
| Interest expense | $1.8M | $1.5M | $2.6M | $1.6M | $1.7M | $1.3M | $907,000 | $1.1M | $1.7M | $870,000 | $1.5M | $10.3M |
| Income before taxes | $5.8M | $33.2M | $14.1M | −$1.7M | $1.9M | −$7.3M | −$7.2M | −$1.3M | −$15.4M | −$22.9M | $177.9M | −$28.6M |
| Income taxes | −$3.8M | −$174,000 | −$24.0M | −$1.3M | −$1.1M | −$1.1M | $1.1M | $814,000 | −$2.4M | −$2.6M | $36.7M | −$244,000 |
| Net income | $9.6M | $33.4M | $38.1M | −$462,000 | $3.0M | −$6.3M | −$8.2M | −$2.1M | −$13.0M | −$20.4M | $138.5M | −$18.5M |
| EBITDA | $21.1M | $42.5M | $21.3M | $7.5M | $6.9M | $6.6M | −$1.7M | $11.9M | $3.0M | $2.2M | $11.6M | −$17.7M |
| EPS (diluted) | $0.14 | $0.49 | $0.66 | −$0.01 | $0.19 | −$0.12 | −$0.16 | −$0.04 | −$0.26 | −$0.41 | −$0.54 | −$0.39 |
| Gross margin | 33.9% | 34.0% | 26.9% | 0.2% | 26.3% | 28.2% | 1.1% | 26.4% | 22.7% | 14.6% | 23.2% | 9.8% |
| Operating margin | 13.0% | 14.7% | −8.9% | 3.5% | −7.2% | −21.4% | −43.4% | −0.2% | −29.4% | −53.3% | −80.7% | −75.1% |
| Net margin | 16.2% | 45.1% | 59.0% | −0.9% | 6.5% | −17.6% | −24.6% | −4.0% | −27.4% | −49.4% | 235.9% | −48.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MUX's financial statements (latest annual report filed March 17, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MUX financial results
In fiscal year 2025 (ended December 31, 2025), McEwen Mining reported revenue of $197.6 million, up 13.2% from the year before. It had net income of $34.4 million, a net profit margin of 17.4%. Diluted earnings per share came to $0.72. Over five years revenue grew at an average rate of 13.5% a year.
See the MUX stock overview for the latest quote and news, or the MUX chart for price history and technical indicators.
MUX income statement FAQ
What is McEwen Mining's annual revenue?
McEwen Mining reported total revenue of $197.6 million for fiscal year 2025, which ended on December 31, 2025. That was up 13.2% from $174.5 million the previous year.
Is McEwen Mining profitable?
Yes. McEwen Mining reported net income of $34.4 million in fiscal 2025, a net profit margin of 17.4%; its operating margin was −6.5%.
What is McEwen Mining's gross margin?
McEwen Mining's gross margin was 11.0% in fiscal 2025: for every $100 of revenue, McEwen Mining kept $11 after the direct cost of its products and services.
How fast is McEwen Mining growing?
Revenue grew 13.5% a year on average over the last five fiscal years, from $104.8 million to $197.6 million.
What are McEwen Mining's earnings per share?
McEwen Mining earned $0.72 per diluted share in fiscal 2025, compared with $-0.87 a year earlier.
When will McEwen Mining report its next earnings?
McEwen Mining is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 after the market closes.
When does McEwen Mining's fiscal year end?
McEwen Mining's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 17, 2026.