First Majestic SilverTSX:AG +0.67%66 Altman Z-Score is 4.28 as of Jul. 01, 2026, which is 74% above its 10-year median of 2.46. 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 787 Metals & Mining companies, First Majestic Silver ranks better than 61.63% on this metric.
The Altman Z-Score is a model designed to predict the likelihood of a company going bankrupt within the next two years. Created by American finance professor Edward Altman in 1968, the model is specifically designed for publicly traded manufacturing companies with assets greater than $1 million.
Good Sign:
Altman Z-score of 4.28 is strong.
First Majestic Silver has a Altman Z-Score of 4.28, indicating it is in Safe Zones. This implies the Altman Z-Score is strong.
The zones of discrimination were as such:
When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.
The historical rank and industry rank for First Majestic Silver's Altman Z-Score or its related term are showing as below:
TSX:AG'
s Altman Z-Score Range Over the Past 10 Years
Min: 1.07 Med: 2.46 Max: 5.92
Current: 4.28
During the past 13 years, First Majestic Silver's highest Altman Z-Score was 5.92. The lowest was 1.07. And the median was 2.46.
First Majestic Silver (TSX:AG) Altman Z-Score Explanation
X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.
X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.
X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.
X4, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.
X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.
Altman Z-Score does not apply to financial companies.
First Majestic Silver Altman Z-Score Related Terms
First Majestic Silver Altman Z-Score Historical Data
* Premium members only.
The historical data trend for First Majestic Silver's Altman Z-Score 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.
For the Silver subindustry, First Majestic Silver's Altman Z-Score, along with its competitors' market caps and Altman Z-Score 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 Altman Z-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, First Majestic Silver's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where First Majestic Silver's Altman Z-Score falls into.
Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
* 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. GuruFocus does not calculate Altman Z-Score when X4 or X5 value is 0.
First Majestic Silver (TSX:AG) has a Altman Z-Score of 4.28 as of Jul. 01, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on First Majestic Silver and its competitors. This is 74% above median its historical median of 2.46. Over the past decade, First Majestic Silver's Altman Z-Score has ranged from 1.07 to 5.92. According to the industry distribution chart, First Majestic Silver ranks #302 out of 787 companies in the Metals & Mining industry, placing it in the top 38.4%.
Is First Majestic Silver's Altman Z-Score too high?
First Majestic Silver's current Altman Z-Score of 4.28 is 74% above median its 10-year median of 2.46. Over the past 10 years, this metric has ranged from a low of 1.07 to a high of 5.92. The Metals & Mining industry median Altman Z-Score is 3.37. First Majestic Silver's value of 4.28 is 27% above this industry median. Based on the distribution chart, First Majestic Silver ranks #302 out of 787 companies in the Metals & Mining industry, which is above the industry midpoint. 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 Altman Z-Score compare to EXK?
According to the Metals & Mining industry distribution chart, First Majestic Silver ranks #302 out of 787 companies for Altman Z-Score. This puts First Majestic Silver in the upper half of its industry. The industry median Altman Z-Score is 3.37. First Majestic Silver's value of 4.28 is 27% above this benchmark. Historically, First Majestic Silver's own Altman Z-Score has ranged from 1.07 to 5.92 over the past decade. While the company's 10-year median is 2.46 vs. the industry median of 3.37, First Majestic Silver has consistently been above 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 Altman Z-Score for a Metals & Mining company?
The median Altman Z-Score among Metals & Mining companies is 3.37, based on 787 companies in the industry. Companies in the top quartile (top 25%) have a Altman Z-Score significantly above this median, while those in the bottom quartile fall well below. However, Altman Z-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First Majestic Silver's current Altman Z-Score of 4.28 is 27% 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 Altman Z-Score mean?
A high Altman Z-Score can signal that a stock is expensive relative to its fundamentals. The Altman Z-score measures a company's bankruptcy risk. View historical data on First Majestic Silver and its competitors. For the Metals & Mining industry, the median Altman Z-Score is 3.37 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Majestic Silver's current Altman Z-Score is 4.28, which is 74% above median its own 10-year median of 2.46. 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 Altman Z-Score is 4.28, which is 74% above median its 10-year median of 2.46 and 27% above the Metals & Mining industry median of 3.37. 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 Altman Z-Score calculated?
Altman Z-Score is calculated from a company's financial statements. For First Majestic Silver (TSX:AG), the current Altman Z-Score is 4.28 as of Jul. 01, 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:
Altman Z-Score: 4.28 (74% above median its 10-year median of 2.46)
GF Value™: C$13.95 vs. price of C$24.08 (72.6% above fair value)
Industry Position: 27% above the Metals & Mining median (#302 of 787)
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 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
Get the complete analysis for TSX:AG
Altman Z-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TSX:AG has been successfully added to your 
