First Majestic Silver Corp cash flow statement

In fiscal 2025, First Majestic Silver Corp's operations generated $526m of cash; it spent $62.1m on capital projects, leaving free cash flow of $464m. It returned $9.8m in dividends.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

First Majestic Silver Corp: cash flow statement, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	100	70	33	140	80	69	19	56	152	526
Depreciation and amortisation	80	77	94	66	54	117	136	125	124	263
Stock-based pay	4	8	7	8	8	12	14	13	12	13
Capital spending	19	21	35	42	43	57	60	32	20	62
Free cash flow	81	50	−2	98	36	12	−41	24	132	464
Free cash flow after stock pay	77	41	−9	90	28	−0	−55	11	120	451
Dividends paid	—	—	—	—	0	4	7	6	5	10

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from First Majestic Silver Corp's SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to First Majestic Silver Corp.