First Majestic SilverXSWX:AG 59 PB Ratio is 1.04 as of Jul. 06, 2026, which is 48% below its 10-year median of 1.99. GuruFocus rates XSWX:AG with a GF Score™ of 59/100 and a GF Value™ of CHF2.82. The stock has 2 warning signs investors should review. Among 2,351 Metals & Mining companies, First Majestic Silver ranks worse than 62.27% on this metric.
The historical rank and industry rank for First Majestic Silver's PB Ratio or its related term are showing as below:
XSWX:AG'
s PB Ratio Range Over the Past 10 Years
Min: 0.97 Med: 1.99 Max: 5.63
Current: 3.2
During the past 13 years, First Majestic Silver's highest PB Ratio was 5.63. The lowest was 0.97. And the median was 1.99.
XSWX:AG's PB Ratio is ranked worse than 62.27% of 2351
companies
in the Metals & Mining industry
Industry Median: 2.31
vs XSWX:AG: 3.20
During the past 12 months, First Majestic Silver's average Book Value Per Share Growth Rate was 12.10% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 3.50% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 5.70% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 5.60% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of First Majestic Silver was 210.10% per year. The lowest was -6.20% per year. And the median was 12.00% per year.
Back to Basics: PB Ratio
First Majestic Silver (XSWX:AG) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
* 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.
For the Silver subindustry, First Majestic Silver's PB Ratio, along with its competitors' market caps and PB Ratio 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 Majestic Silver PB Ratio vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, First Majestic Silver's PB Ratio distribution charts can be found below:
* The bar in red indicates where First Majestic Silver's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
First Majestic Silver (XSWX:AG) has a PB Ratio of 1.04 as of Jul. 06, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on First Majestic Silver and its competitors. This is 48% below median its historical median of 1.99. Over the past decade, First Majestic Silver's PB Ratio has ranged from 0.97 to 5.63. According to the industry distribution chart, First Majestic Silver ranks #1464 out of 2351 companies in the Metals & Mining industry, placing it in the top 62.3%.
Is First Majestic Silver's PB Ratio too high?
First Majestic Silver's current PB Ratio of 1.04 is 48% below median its 10-year median of 1.99. Over the past 10 years, this metric has ranged from a low of 0.97 to a high of 5.63. The Metals & Mining industry median PB Ratio is 2.31. First Majestic Silver's value of 1.04 is 55% below this industry median. Based on the distribution chart, First Majestic Silver ranks #1464 out of 2351 companies in the Metals & Mining industry, which is below the industry midpoint. Overall, First Majestic Silver has a GF Score™ of 59/100, reflecting its overall financial health beyond just this single metric.
How does First Majestic Silver's PB Ratio compare to EXK?
According to the Metals & Mining industry distribution chart, First Majestic Silver ranks #1464 out of 2351 companies for PB Ratio. This places First Majestic Silver in the lower half of its industry. The industry median PB Ratio is 2.31. First Majestic Silver's value of 1.04 is 55% below this benchmark. Historically, First Majestic Silver's own PB Ratio has ranged from 0.97 to 5.63 over the past decade. While the company's 10-year median is 1.99 vs. the industry median of 2.31, First Majestic Silver has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a Metals & Mining company?
The median PB Ratio among Metals & Mining companies is 2.31, based on 2,351 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First Majestic Silver's current PB Ratio of 1.04 is 55% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on First Majestic Silver and its competitors. For the Metals & Mining industry, the median PB Ratio is 2.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Majestic Silver's current PB Ratio is 1.04, which is 48% below median its own 10-year median of 1.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Majestic Silver stock overvalued right now?
First Majestic Silver (XSWX:AG) has a current PB Ratio of 1.04. The stock's GF Value™ is CHF2.82, compared to a current price of CHF14.34 — trading 408.7% above its estimated fair value. The current PB Ratio is 1.04, which is 48% below median its 10-year median of 1.99 and 55% below the Metals & Mining industry median of 2.31. First Majestic Silver's overall GF Score™ is 59/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For First Majestic Silver (XSWX:AG), the current PB Ratio is 1.04 as of Jul. 06, 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 Majestic Silver (XSWX:AG) Overvalued in 2026?
Based on GuruFocus' analysis, First Majestic Silver stock appears to be overvalued.
The current stock price of CHF14.34 is trading 408.7% above its estimated GF Value™ of CHF2.82.
Key valuation signals for XSWX:AG:
PB Ratio: 1.04 (48% below median its 10-year median of 1.99)
GF Value™: CHF2.82 vs. price of CHF14.34 (408.7% above fair value)
Industry Position: 55% below the Metals & Mining median (#1464 of 2351)
No single metric tells the full story. See the XSWX:AG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
First Majestic Silver Corp is in the business of production, development, exploration, and acquisition of mineral properties with a focus on silver and gold production in North America. The company owns four producing mines in Mexico, consisting of the Santa Elena Silver/Gold Mine, the San Dimas Silver/Gold Mine, the Los Gatos Silver Mine, and the La Encantada Silver Mine. It also owns the Jerritt Canyon Gold Mine in Nevada, USA. Additionally, the firm holds interests in the San Martin Silver Mine and the Del Toro Silver Mine, and several exploration-stage projects. The majority of the company's revenues are from the sale of precious metals contained in dore and concentrate form. It generates maximum revenue from the sale of silver, followed by gold, zinc, copper, and other metals.
59GF Score
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