McEwen (MUX) Financial Statements & Analysis

McEwen (MUX) Income Statement

McEwen reported revenue of $197.55M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 13.2% from $174.48M a year earlier. Net income was $34.43M, a net margin of 17.4%. Gross margin was 24.1% and operating margin -6.5%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $59.23M, up 26.8% from the same quarter a year earlier.

McEwen Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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McEwen Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	197.55	174.48	166.23	110.42	136.54	104.79	117.02	128.82	67.72
Cost of Revenue	149.99	143.54	201.87	157.99	143.02	131.74	108.03	96.09	49.02
Gross Profit	47.56	30.94	17.78	-0.54	-6.48	-26.95	8.99	32.08	18.71
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	26.70	17.17	15.45	11.89	11.44	9.20	12.79	23.16	12.34
Operating Expenses	60.49	81.51	203.68	107.90	46.73	126.23	72.90	62.61	43.98
Operating Income	-12.93	-50.57	-162.06	-95.44	-53.21	-153.17	-63.91	-47.19	-26.29
Other Income/Expense
Interest Income	-7.22	0.00	36.92	-7.79	0.00	0.00	0.00	0.00	0.00
Interest Expense	7.22	4.60	-5.88	-7.79	6.20	7.43	6.82	1.62	0.94
Other Income/Expense	27.09	3.83	229.10	15.15	-4.79	-0.54	0.32	-0.45	0.28
Income
Income Before Tax	6.95	-46.74	67.04	-80.29	-64.20	-153.72	-63.59	-47.64	-26.00
Income Tax Expense	-27.49	-3.05	33.86	5.81	-7.32	-1.39	-3.84	-2.77	-15.37
Net Income	34.43	-43.69	55.30	-91.11	-56.71	-152.33	-59.75	-44.87	-10.63
Net Income - Continuous Operations	34.43	-43.69	55.30	-81.08	-56.88	-152.33	-59.75	-44.87	-10.63
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	14.92	18.25	-73.95	-78.68	-32.66	-123.19	-31.23	-29.60	-18.96
EBIT	-12.93	-12.62	-104.30	-98.21	-58.00	-151.66	-	-	-
Depreciation & Amortization	0.62	30.86	32.90	19.53	0.34	23.09	25.54	16.43	6.58
Earnings Per Share
Basic EPS	1.00	-1.00	1.00	-2.00	-1.00	-4.00	-2.00	-1.00	-
Diluted EPS	1.00	-1.00	1.00	-2.00	-1.00	-4.00	-2.00	-1.00	-
Basic Shares Outstanding	54.05	51.02	47.54	47.43	45.49	40.35	35.15	33.73	31.39
Diluted Shares Outstanding	65.50	51.02	47.54	47.43	45.49	40.35	36.19	33.73	31.39

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About McEwen Financial Statements

What was McEwen's revenue in fiscal 2025?

McEwen reported revenue of $197.55M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 13.2% from $174.48M a year earlier.

Is McEwen profitable?

Yes. McEwen earned net income of $34.43M in fiscal 2025, a net margin of 17.4%. In fiscal 2024 it lost $43.69M.

What is McEwen's operating margin?

McEwen's operating income was −$12.93M on revenue of $197.55M in fiscal 2025, an operating margin of -6.5%, compared with -29.0% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition