First Quantum Minerals (TSX:FM) FCF Margin %: 10.97% (As of Mar. 2026) — 129% Above Median

What is First Quantum Minerals FCF Margin %?

First Quantum Minerals TSX:FM +1.88% 76 FCF Margin % is 10.97% as of Mar. 2026, which is 129% above its 10-year median of 4.79. GuruFocus rates TSX:FM with a GF Score™ of 76/100 and a GF Value™ of C$22.23 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 847 Metals & Mining companies, First Quantum Minerals ranks better than 85.83% on this metric.

FCF Margin % is calculated as Free Cash Flow divided by its Revenue. First Quantum Minerals's Free Cash Flow for the three months ended in Mar. 2026 was C$211 Mil. First Quantum Minerals's Revenue for the three months ended in Mar. 2026 was C$1,926 Mil. Therefore, First Quantum Minerals's FCF Margin % for the quarter that ended in Mar. 2026 was 10.97%.

As of today, First Quantum Minerals's current FCF Yield % is 5.34%.

The historical rank and industry rank for First Quantum Minerals's FCF Margin % or its related term are showing as below:

TSX:FM' s FCF Margin % Range Over the Past 10 Years
Min: -22.3 Med: 4.79 Max: 26.21
Current: 22.06

During the past 13 years, the highest FCF Margin % of First Quantum Minerals was 26.21%. The lowest was -22.30%. And the median was 4.79%.

TSX:FM's FCF Margin % is ranked better than
85.83% of 847 companies
in the Metals & Mining industry
Industry Median: -2.17 vs TSX:FM: 22.06

First Quantum Minerals FCF Margin % Related Terms

First Quantum Minerals FCF Margin % Historical Data

* Premium members only.

The historical data trend for First Quantum Minerals's FCF Margin % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

First Quantum Minerals FCF Margin % Chart

First Quantum Minerals Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

FCF Margin %

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26.21

15.28

1.97

7.60

18.10

First Quantum Minerals Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
FCF Margin %	Get a 7-Day Free Trial															-8.40	38.34	67.98	-22.85	10.97

TSX:FM vs SCCO, FCX: FCF Margin % Comparison

For the Copper subindustry, First Quantum Minerals's FCF Margin %, along with its competitors' market caps and FCF Margin % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

First Quantum Minerals FCF Margin % vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, First Quantum Minerals's FCF Margin % distribution charts can be found below:

* The bar in red indicates where First Quantum Minerals's FCF Margin % falls into.

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76GF Score

First Quantum Minerals Ltd TSX:FM

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First Quantum Minerals FCF Margin % Calculation

FCF margin is the ratio of Free Cash Flow divided by net sales or Revenue, usually presented in percent.

First Quantum Minerals's FCF Margin for the fiscal year that ended in Dec. 2025 is calculated as

FCF Margin	=	Free Cash Flow (A: Dec. 2025 )	/	Revenue (A: Dec. 2025 )
	=	1307.766	/	7224.442
	=	18.10 %

First Quantum Minerals's FCF Margin for the quarter that ended in Mar. 2026 is calculated as

FCF Margin	=	Free Cash Flow (Q: Mar. 2026 )	/	Revenue (Q: Mar. 2026 )
	=	211.288	/	1926.288
	=	10.97 %

Frequently Asked Questions Learn more about FCF Margin % →

What does a FCF Margin % of 10.97% mean?

First Quantum Minerals (TSX:FM) has a FCF Margin % of 10.97% as of Mar. 2026. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on First Quantum Minerals and its competitors. This is 129% above median its historical median of 4.79. According to the industry distribution chart, First Quantum Minerals ranks #120 out of 847 companies in the Metals & Mining industry, placing it in the top 14.2%.

Is First Quantum Minerals' FCF Margin % too high?

First Quantum Minerals' current FCF Margin % of 10.97% is 129% above median its 10-year median of 4.79. Based on the distribution chart, First Quantum Minerals ranks #120 out of 847 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, First Quantum Minerals has a GF Score™ of 76/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does First Quantum Minerals' FCF Margin % compare to SCCO and FCX?

According to the Metals & Mining industry distribution chart, First Quantum Minerals ranks #120 out of 847 companies for FCF Margin %. This places First Quantum Minerals in the top 14% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good FCF Margin % for a Metals & Mining company?

A good FCF Margin % depends on the Metals & Mining industry context. However, FCF Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high FCF Margin % mean?

A high FCF Margin % can signal that a stock is expensive relative to its fundamentals. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on First Quantum Minerals and its competitors. First Quantum Minerals's current FCF Margin % is 10.97%, which is 129% above median its own 10-year median of 4.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is First Quantum Minerals stock overvalued right now?

Based on GuruFocus' analysis, First Quantum Minerals (TSX:FM) is currently considered Significantly Overvalued. The stock's GF Value™ is C$22.23, compared to a current price of C$37.44 — trading 68.4% above its estimated fair value. The current FCF Margin % is 10.97%, which is 129% above median its 10-year median of 4.79. First Quantum Minerals' overall GF Score™ is 76/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is FCF Margin % calculated?

FCF Margin % is calculated from a company's financial statements. For First Quantum Minerals (TSX:FM), the current FCF Margin % is 10.97% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is First Quantum Minerals (TSX:FM) Overvalued in 2026?

Based on GuruFocus' analysis, First Quantum Minerals stock appears to be overvalued. The current stock price of C$37.44 is trading 68.4% above its estimated GF Value™ of C$22.23. GuruFocus considers First Quantum Minerals to be Significantly Overvalued.

Key valuation signals for TSX:FM:

FCF Margin %: 10.97% (129% above median its 10-year median of 4.79)
GF Value™: C$22.23 vs. price of C$37.44 (68.4% above fair value)
GF Score™: 76/100 with 3 warning signs

No single metric tells the full story. See the TSX:FM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

First Quantum Minerals Business Description

Industry Basic Materials Metals & Mining

Comparable Companies TSX:LUN TSX:HBM TSX:CS TSX:ERO TSX:TKO TSX:ASCU TSX:FDY TSX:III TSX:ARG TSX:MARI SCCO FCX LSE:ANTO LIM:CVERDEC1 SHSE:600362 WAR:KGH SZSE:000630 HKSE:01208 SZSE:301511 SZSE:002203

Other Exchanges FQVLF:USA IZ1:Germany

Address 330 Bay Street, Suite 1101, Toronto, ON, CAN, M5H 2S8

Website https://www.first-quantum.com

First Quantum Minerals Ltd is a diversified mining company. The company's principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite. It has operating mines located in Zambia, Panama, Turkey, Spain, Australia, and Mauritania. The company's reportable operating segments are Cobre Panama, Kansanshi, and Trident.

76GF Score

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C$37.44

Price

C$22.23

GF Value

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