First Majestic Silver (TSX:AG) Pretax Margin %: 50.11% (As of Mar. 2026)


TSX:AG First Majestic Silver Corp TSX:AG
66 GF Score
Price C$24.08
GF Value C$13.95
Valuation Significantly Overvalued
! 2 Warning Signs
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What is First Majestic Silver Pretax Margin %?

First Majestic Silver TSX:AG +0.67% 66 Pretax Margin % is 50.11% as of Mar. 2026. GuruFocus rates TSX:AG with a GF Score™ of 66/100 and a GF Value™ of C$13.95 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 842 Metals & Mining companies, First Majestic Silver ranks better than 85.04% on this metric.

Pre-Tax margin is calculated as Pre-Tax Income divided by its Revenue. First Majestic Silver's Pre-Tax Income for the three months ended in Mar. 2026 was C$331 Mil. First Majestic Silver's Revenue for the three months ended in Mar. 2026 was C$660 Mil. Therefore, First Majestic Silver's pretax margin for the quarter that ended in Mar. 2026 was 50.11%.

The historical rank and industry rank for First Majestic Silver's Pretax Margin % or its related term are showing as below:

TSX:AG' s Pretax Margin % Range Over the Past 10 Years
Min: -85.29   Med: -7.25   Max: 40.48
Current: 40.48


TSX:AG's Pretax Margin % is ranked better than
85.04% of 842 companies
in the Metals & Mining industry
Industry Median: 4.825 vs TSX:AG: 40.48

First Majestic Silver  (TSX:AG) Pretax Margin % Explanation

The pretax margin, as know as pretax profit margin, is widely used to measure the operating efficiency of a company before deducting taxes.

The pretax margin is sometimes preferred over the net margin as tax expenditures can make profitability comparisons between companies misleading.

It is a useful tool to compare companies operating in the same sector and less effective when comparing companies from other sectors as each industry generally has different operating expenses and sales patterns.

The long term trend of the pretax margin is a good indicator of the competitiveness and health of the business.


First Majestic Silver Pretax Margin % Related Terms


First Majestic Silver Pretax Margin % Historical Data

* Premium members only.

The historical data trend for First Majestic Silver's Pretax 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 Majestic Silver Pretax Margin % Chart

First Majestic Silver Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Pretax Margin %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.30 -9.80 -33.99 -4.69 31.22

First Majestic Silver Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Pretax Margin % 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 11.81 14.36 23.13 55.94 50.11

TSX:AG vs EXK: Pretax Margin % Comparison

For the Silver subindustry, First Majestic Silver's Pretax Margin %, along with its competitors' market caps and Pretax 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 Majestic Silver Pretax Margin % vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, First Majestic Silver's Pretax Margin % distribution charts can be found below:

* The bar in red indicates where First Majestic Silver's Pretax Margin % falls into.


TSX:AG
66GF Score
First Majestic Silver Corp TSX:AG
Pretax Margin % is just one metric. See GF Score™, valuation, warning signs, and more.
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First Majestic Silver Pretax Margin % Calculation

Pretax margin - also known as pretax profit margin is the ratio of Pretax Income divided by net sales or Revenue, usually presented in percent.

First Majestic Silver's Pretax Margin for the fiscal year that ended in Dec. 2025 is calculated as

Pretax Margin=Pre-Tax Income (A: Dec. 2025 )/Revenue (A: Dec. 2025 )
=544.938/1745.284
=31.22 %

First Majestic Silver's Pretax Margin for the quarter that ended in Mar. 2026 is calculated as

Pretax Margin=Pre-Tax Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=330.637/659.847
=50.11 %

* 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.

Frequently Asked Questions Learn more about Pretax Margin % →
What does a Pretax Margin % of 50.11% mean?
First Majestic Silver (TSX:AG) has a Pretax Margin % of 50.11% as of Mar. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on First Majestic Silver and its competitors. According to the industry distribution chart, First Majestic Silver ranks #126 out of 842 companies in the Metals & Mining industry, placing it in the top 15%.
Is First Majestic Silver's Pretax Margin % too high?
First Majestic Silver's current Pretax Margin % is 50.11%. The Metals & Mining industry median Pretax Margin % is 4.83. First Majestic Silver's value of 50.11% is 938.5% above this industry median. Based on the distribution chart, First Majestic Silver ranks #126 out of 842 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, First Majestic Silver has a GF Score™ of 66/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does First Majestic Silver's Pretax Margin % compare to EXK?
According to the Metals & Mining industry distribution chart, First Majestic Silver ranks #126 out of 842 companies for Pretax Margin %. This places First Majestic Silver in the top 15% of its industry — outperforming the majority of peers. The industry median Pretax Margin % is 4.83. First Majestic Silver's value of 50.11% is 938.5% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Pretax Margin % for a Metals & Mining company?
The median Pretax Margin % among Metals & Mining companies is 4.83, based on 842 companies in the industry. Companies in the top quartile (top 25%) have a Pretax Margin % significantly above this median, while those in the bottom quartile fall well below. However, Pretax Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First Majestic Silver's current Pretax Margin % of 50.11% is 938.5% above 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 Pretax Margin % mean?
A high Pretax Margin % can signal that a stock is expensive relative to its fundamentals. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on First Majestic Silver and its competitors. For the Metals & Mining industry, the median Pretax Margin % is 4.83 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Majestic Silver's current Pretax Margin % is 50.11%. 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?
Based on GuruFocus' analysis, First Majestic Silver (TSX:AG) is currently considered Significantly Overvalued. The stock's GF Value™ is C$13.95, compared to a current price of C$24.08 — trading 72.6% above its estimated fair value. The current Pretax Margin % is 50.11% and 938.5% above the Metals & Mining industry median of 4.83. First Majestic Silver's overall GF Score™ is 66/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Pretax Margin % calculated?
Pretax Margin % is calculated from a company's financial statements. For First Majestic Silver (TSX:AG), the current Pretax Margin % is 50.11% 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 Majestic Silver (TSX:AG) Overvalued in 2026?

Based on GuruFocus' analysis, First Majestic Silver stock appears to be overvalued. The current stock price of C$24.08 is trading 72.6% above its estimated GF Value™ of C$13.95. GuruFocus considers First Majestic Silver to be Significantly Overvalued.

Key valuation signals for TSX:AG:

  • Pretax Margin %: 50.11%
  • GF Value™: C$13.95 vs. price of C$24.08 (72.6% above fair value)
  • GF Score™: 66/100 with 2 warning signs
  • Industry Position: 938.5% above the Metals & Mining median (#126 of 842)

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


First Majestic Silver Business Description

Address 925 West Georgia Street, Suite 1800, Vancouver, BC, CAN, V6C 3L2
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.
66GF Score

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Pretax Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

C$24.08
Price
C$13.95
GF Value