First Quantum Minerals (TSX:FM) Total Inventories: C$2,149 Mil (As of Mar. 2026)


TSX:FM First Quantum Minerals Ltd TSX:FM
76 GF Score
Price C$37.44
GF Value C$22.23
Valuation Significantly Overvalued
! 3 Warning Signs
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What is First Quantum Minerals Total Inventories?

First Quantum Minerals TSX:FM +1.88% 76 Total Inventories is C$2,149 Mil as of Mar. 2026. 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.

First Quantum Minerals's total inventories for the quarter that ended in Mar. 2026 was C$2,149 Mil. First Quantum Minerals's average total inventories from the quarter that ended in Dec. 2025 to the quarter that ended in Mar. 2026 was C$2,134 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. First Quantum Minerals's Net-Net Working Capital per share for the quarter that ended in Mar. 2026 was C$-20.06.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. First Quantum Minerals's Days Inventory for the three months ended in Mar. 2026 was 126.07.

Inventory Turnover measures how fast the company turns over its inventory within a year. First Quantum Minerals's Inventory Turnover for the quarter that ended in Mar. 2026 was 0.72.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. First Quantum Minerals's Inventory-to-Revenue for the quarter that ended in Mar. 2026 was 1.11.


First Quantum Minerals  (TSX:FM) Total Inventories Explanation

Inventory control is an important part of business operation. If a company does not have enough inventory, it may not be able to meet customers' required delivery time. If it has too much inventory, the cost of holding the inventory can be high.

1. In Ben Graham's calculation of Net-Net Working Capital (NNWC), inventory is only considered worth half of its book value.

First Quantum Minerals's Net-Net Working Capital Per Share for the quarter that ended in Mar. 2026 is

Net-Net Working Capital Per Share (Q: Mar. 2026 )
=(Cash And Cash Equivalents+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(1056.44+0.75 * 507.64+0.5 * 2148.552-18683.896
-0-441.784)/828.186
=-20.06

2. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

First Quantum Minerals's Days Inventory for the three months ended in Mar. 2026 is calculated as:

Days Inventory=Average Total Inventories (Q: Mar. 2026 )/Cost of Goods Sold (Q: Mar. 2026 )*Days in Period
=2134.422/1544.872*365 / 4
=126.07

3. Inventory Turnover measures how fast the company turns over its inventory within a year.

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

Inventory Turnover=Cost of Goods Sold (Q: Mar. 2026 ) / Average Total Inventories (Q: Mar. 2026 )
=1544.872 / 2134.422
=0.72

4. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

First Quantum Minerals's Inventory to Revenue for the quarter that ended in Mar. 2026 is calculated as

Inventory-to-Revenue=Average Total Inventories (Q: Mar. 2026 ) / Revenue (Q: Mar. 2026 )
=2134.422 / 1926.288
=1.11

* 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.


Be Aware

Manufacturers with durable competitive advantages have the advantage that the products they sell do not change, and therefore will never become obsolete. Buffett likes this advantage.

When identifying manufacturers with durable competitive advantage, look for inventory and net earnings that rise correspondingly. This indicates that the company is finding profitable ways to increase sales which called for an increase in inventory.

Manufacturers with inventories that spike up and down are indicative of competitive industries subject to boom and bust.


First Quantum Minerals Total Inventories Related Terms


First Quantum Minerals Total Inventories Historical Data

* Premium members only.

The historical data trend for First Quantum Minerals's Total Inventories 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 Total Inventories Chart

First Quantum Minerals Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Total Inventories
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,681.92 1,980.69 2,137.17 2,213.98 2,120.29

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
Total Inventories Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2,278.30 2,152.71 2,174.71 2,120.29 2,148.55
TSX:FM
76GF Score
First Quantum Minerals Ltd TSX:FM
Total Inventories is just one metric. See GF Score™, valuation, warning signs, and more.
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First Quantum Minerals Total Inventories Calculation

Total Inventories includes the raw materials, work-in-process goods and completely finished goods of a company. It is a portion of a company's current assets.

Frequently Asked Questions Learn more about Total Inventories →
What does a Total Inventories of C$2,149 Mil mean?
First Quantum Minerals (TSX:FM) has a Total Inventories of C$2,149 Mil as of Mar. 2026. The total amount of inventory as recorded on a company's balance sheet. View historical data for First Quantum Minerals and its competitors.
Is First Quantum Minerals' Total Inventories too high?
First Quantum Minerals' current Total Inventories is C$2,149 Mil. 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' Total Inventories compare to SCCO and FCX?
First Quantum Minerals' Total Inventories of C$2,149 Mil can be compared against companies in the Metals & Mining industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Total Inventories for a Metals & Mining company?
A good Total Inventories depends on the Metals & Mining industry context. However, Total Inventories 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 Total Inventories mean?
A high Total Inventories can signal that a stock is expensive relative to its fundamentals. The total amount of inventory as recorded on a company's balance sheet. View historical data for First Quantum Minerals and its competitors. First Quantum Minerals's current Total Inventories is C$2,149 Mil. 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 Total Inventories is C$2,149 Mil. 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 Total Inventories calculated?
Total Inventories is calculated from a company's financial statements. For First Quantum Minerals (TSX:FM), the current Total Inventories is C$2,149 Mil 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:

  • Total Inventories: C$2,149 Mil
  • 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

Other Exchanges FQVLF:USAIZ1:Germany
Address 330 Bay Street, Suite 1101, Toronto, ON, CAN, M5H 2S8
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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Total Inventories is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

C$37.44
Price
C$22.23
GF Value