Hudbay Minerals Inc. key statistics and ratios

In fiscal 2025, Hudbay Minerals Inc. had return on equity of 19.7%, an operating margin of 41.5%, debt equal to 31.2% of equity and a current ratio of 0.95. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Hudbay Minerals Inc.: financial ratios, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	19.7%	29.2%	25.4%	12.2%	3.6%	8.7%	18.9%	23.2%	27.4%	33.6%
Operating margin	15.0%	25.1%	20.3%	−23.3%	−3.4%	1.2%	14.7%	17.6%	19.8%	41.5%
Net margin	−3.1%	10.0%	5.8%	−27.8%	−13.2%	−16.3%	4.8%	3.9%	3.8%	25.7%
Free-cash-flow margin	25.0%	20.7%	19.6%	4.2%	−11.1%	2.2%	12.2%	11.6%	15.8%	10.9%
Return on equity	−2.0%	7.2%	4.0%	−17.1%	−8.2%	−15.4%	4.6%	3.6%	3.3%	19.7%
Return on assets	−0.8%	3.0%	1.8%	−7.5%	−3.2%	−5.3%	1.6%	1.4%	1.4%	9.7%
Asset turnover	0.25	0.30	0.31	0.27	0.24	0.32	0.33	0.35	0.37	0.38
Current ratio	1.30	1.61	2.36	1.69	1.68	1.29	1.17	1.25	1.95	0.95
Debt to equity	70.0%	46.4%	45.0%	53.3%	66.8%	79.9%	75.3%	61.4%	43.4%	31.2%
Interest cover (operating income ÷ interest)	1.6x	4.0x	3.8x	n/m	n/m	0.2x	3.2x	3.9x	5.7x	15.1x
Effective tax rate	—	19.2%	50.0%	—	—	—	26.5%	54.2%	73.1%	38.1%
Capital spending as % of revenue	17.1%	17.8%	13.0%	20.9%	33.1%	23.4%	21.1%	16.6%	17.2%	21.1%
Free cash flow ÷ net income	—	207.5%	337.9%	—	—	—	254.1%	294.9%	416.0%	42.3%
Dividends ÷ net income	—	2.6%	4.7%	—	—	—	5.8%	6.8%	7.2%	1.0%
Dividends and buybacks ÷ free cash flow	1.3%	1.3%	1.4%	7.6%	—	12.6%	2.3%	2.3%	1.7%	2.3%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 7 checks passed · December 31, 2025

What it owns · $6.2bn

Short-term assets $1.2bnLonger-term assets $5.1bn

What it owes, and who funded it · $6.2bn

Short-term liabilities $1.2bnLonger-term liabilities $1.8bnShareholders' equity $3.2bn

Short-term assets cover short-term liabilities $1.2bn of assets due within a year against $1.2bn of liabilities due within a year.
Short-term assets cover long-term liabilities $1.2bn short-term assets against $1.8bn of longer-dated liabilities.
More cash than debt $569m of cash against $1.0bn of debt.
Debt below 40% of shareholders' equity Debt is 31% of equity.
Debt burden no higher than five years ago Debt to equity moved from 67% to 31% over five years.
A year's operating cash flow covers at least 20% of debt $707m of operating cash flow against $1.0bn of debt.
Operating profit covers interest at least five times over Operating income of $916m against $61m of interest.

From Hudbay Minerals Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Hudbay Minerals Inc.'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Hudbay Minerals Inc.