Latest Ratios: P/E Ratio -13.3x · EV/EBITDA N/A · ROE -63.6%. (2001–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.2B | $1.4B | $80M | $43M | $210M | $91M | $671M | $453M | $141M | $291M | $173M |
| Enterprise Value | $1.1B | $1.3B | $84M | $63M | $224M | $113M | $701M | $448M | $151M | $297M | $157M |
| P/E Ratio → | -13.30 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 9.95 | 11.58 | 0.80 | 0.45 | 2.47 | 2.03 | 24.08 | 7.75 | 2.06 | 5.36 | 2.94 |
| P/B Ratio | 5.30 | 6.16 | 1.49 | 0.60 | 2.13 | 0.88 | 3.71 | 3.26 | 1.67 | 3.30 | 1.98 |
| P/FCF | — | — | — | — | — | — | — | 1335.74 | — | — | — |
| P/OCF | — | — | — | — | — | — | — | 32.02 | 15.62 | 184.42 | 32.11 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 10.87 | 0.84 | 0.66 | 2.63 | 2.51 | 25.14 | 7.68 | 2.21 | 5.47 | 2.66 |
| EV / EBITDA | — | — | — | — | — | — | — | 201.24 | 33.30 | 74.56 | 15.54 |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | 1322.58 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 10.0% | 10.0% | -6.6% | -6.7% | -9.9% | -123.3% | -33.4% | 2.1% | 8.3% | 13.9% | 9.1% |
| Operating Margin | -22.0% | -22.0% | -26.2% | -24.0% | -31.2% | -183.4% | -82.8% | -18.9% | -8.8% | -5.0% | 4.6% |
| Net Profit Margin | -74.1% | -74.1% | -44.9% | -36.7% | -50.7% | -350.0% | -90.2% | -55.9% | -15.6% | -6.4% | -8.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -63.6% | -63.6% | -71.5% | -40.9% | -42.6% | -110.6% | -15.7% | -29.3% | -12.4% | -4.0% | -6.9% |
| ROA | -28.9% | -28.9% | -24.1% | -18.8% | -21.3% | -63.3% | -9.8% | -18.2% | -8.4% | -2.8% | -4.9% |
| ROIC | -19.9% | -19.9% | -26.3% | -16.8% | -16.7% | -36.9% | -10.0% | -7.2% | -4.8% | -2.5% | 2.9% |
| ROCE | -11.5% | -11.5% | -21.6% | -17.0% | -16.8% | -40.0% | -10.4% | -7.3% | -5.6% | -2.6% | 2.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.21 | 0.21 | 0.45 | 0.30 | 0.16 | 0.23 | 0.19 | 0.11 | 0.17 | 0.17 | 0.09 |
| Debt / EBITDA | — | — | — | — | — | — | — | 6.97 | 3.10 | 3.77 | 0.77 |
| Net Debt / Equity | — | -0.38 | 0.07 | 0.27 | 0.14 | 0.21 | 0.16 | -0.03 | 0.13 | 0.06 | -0.19 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | -2.00 | 2.34 | 1.43 | -1.62 |
| Debt / FCF | — | — | — | — | — | — | — | -13.16 | — | — | — |
| Interest Coverage | -14.57 | -14.57 | -5.54 | -3.91 | -22.06 | -32.30 | -123.38 | -13.72 | -6.10 | -4.38 | -1.14 |
Net cash position: cash ($130M) exceeds total debt ($46M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.78 | 1.78 | 0.59 | 0.38 | 0.60 | 0.52 | 0.51 | 1.00 | 1.28 | 1.82 | 2.22 |
| Quick Ratio | 1.66 | 1.66 | 0.43 | 0.23 | 0.39 | 0.30 | 0.31 | 0.80 | 0.93 | 1.17 | 1.82 |
| Cash Ratio | 1.51 | 1.51 | 0.29 | 0.03 | 0.05 | 0.06 | 0.12 | 0.57 | 0.15 | 0.65 | 1.49 |
| Asset Turnover | — | 0.29 | 0.52 | 0.53 | 0.45 | 0.21 | 0.10 | 0.25 | 0.54 | 0.43 | 0.50 |
| Inventory Turnover | 9.95 | 9.95 | 9.98 | 11.73 | 10.58 | 10.05 | 4.61 | 7.98 | 7.70 | 4.99 | 8.09 |
| Days Sales Outstanding | — | 27.41 | 13.01 | 36.38 | 24.15 | 38.40 | 66.79 | 32.93 | 51.44 | 44.59 | 24.81 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | 0.1% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $267M | $106M | $85M | $184M | $57M | $104M | $71M | $43M | $40M | $35M |
Operational execution and dilution
Based on reported figures, USAS trades at a P/S ratio of 10.91, which appears significantly elevated compared to the broader mining sector and suggests that investors are pricing in substantial future growth that has yet to be validated by consistent, positive earnings per share.
The forward P/E of 24.21 implies an optimistic outlook on margin expansion that may be difficult to achieve given the company's history of operational setbacks. This valuation premium warrants caution, as it appears to decouple the stock price from the underlying reality of the company's current loss-making trajectory.
According to recent financial statements, the company's ROIC has fluctuated wildly, reaching 13.3% in 2026Q1 after periods of deep negative returns, highlighting a fundamental inability to consistently compound capital within the current high-cost, deep-shaft mining environment at the Galena Complex.
The volatility in ROIC suggests that the company's returns are driven more by metal price cycles and accounting adjustments than by structural improvements in operational efficiency. Investors should monitor whether these returns can stabilize above the cost of capital, which currently appears unlikely given the persistent capital intensity.
As reported in quarterly filings, the cash conversion cycle reached -58 days in 2026Q1, indicating that the company is effectively utilizing supplier credit to manage liquidity, though this efficiency is often overshadowed by the high fixed-cost burden inherent in the company's primary mining assets.
While the negative CCC suggests a lean working capital structure, it may also reflect an inability to pay vendors promptly rather than true operational prowess. The reliance on extended DPO to manage cash flow warrants further investigation into the sustainability of these supplier relationships under stress.
Based on the provided data, the company's interest coverage ratio has been historically volatile, swinging from -18.30 in 2025Q4 to 49.27 in 2026Q1, which suggests that the company's ability to service debt is highly sensitive to quarterly production outcomes and metal price fluctuations.
The erratic nature of interest coverage indicates that the company remains in a precarious financial position where any operational disruption could quickly jeopardize debt service capabilities. The reliance on equity-linked financing to manage leverage suggests that the balance sheet is not yet self-sustaining.
Investors frequently misapply the P/E ratio to USAS, as the company's history of significant impairment charges and non-recurring operational costs renders GAAP earnings a poor proxy for the underlying cash-generating potential of its core silver and base metal assets.
Instead of P/E, analysts should prioritize EV/EBITDA or AISC-adjusted cash flow metrics to better understand the company's operational viability. Relying on P/E obscures the impact of the Relief Canyon care-and-maintenance costs and the specific joint venture accounting that complicates the company's true economic interest.
Includes 30+ ratios · 24 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying USAS stock.
Americas Gold and Silver Corporation's current P/E ratio is -13.3x. The historical average is 34.6x.
Americas Gold and Silver Corporation's return on equity (ROE) is -63.6%. The historical average is -29.6%.
Based on historical data, Americas Gold and Silver Corporation is trading at a P/E of -13.3x. Compare with industry peers and growth rates for a complete picture.
Americas Gold and Silver Corporation has 10.0% gross margin and -22.0% operating margin.