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Operates silver-lead-zinc mines in the Ying Mining District in China's Henan province.
Operates silver-lead-zinc mines in the Ying Mining District in China's Henan province.
Sells concentrate, a metal-rich powder from its mines, to smelters that pay for the metal content less processing charges, so revenue follows silver, lead and zinc prices. It is Canadian-listed but its mines are in China, and it has branched out by buying an Ecuador copper-gold project, Curipamba.
Moat: narrow (installed base, regulatory licence). Long-established, low-cost Chinese underground silver mines with local processing relationships.
Headquarters: Vancouver, Canada (mines in China)
Size Silvercorp Metals (SVM.TO) is a Canada Materials company (Precious Metals) with a market value of $1.99B, the 186th largest of 420 Canada companies the cockpit tracks. Shares closed at C$12.58 on 6 Nov 2026.
Performance Over six months the shares fell 31.4%, against -15.8% for the median peer and +5.2% for the Canada market (cap-weighted) — 5th lowest of 19 in its peer set.
Growth Revenue grew 59.2% over the last twelve months (peer median +56.6%); the operating margin is 56.5% (peer median 34.0%).
Valuation It trades at 12.9× forward earnings against a peer median of 10.9× (4th most expensive of 12).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +19%, so the hurdle is -14 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.7 points above its cost of capital (13.3% WACC).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$685M | C$606M | C$416M | C$290M | C$275M |
| Revenue growth | — | +46% | +43% | +5% | — |
| Gross profit | C$416M | C$348M | C$169M | C$106M | C$91.0M |
| EBITDA | C$438M | C$373M | C$193M | C$129M | C$115M |
| Net income | C$43.3M | -C$13.7M | C$80.9M | C$49.0M | C$27.3M |
| Free cash flow | C$166M | C$240M | C$73.2M | C$37.9M | C$40.6M |
| Capital expenditure | C$272M | C$179M | C$120M | C$85.6M | C$72.7M |
| Total debt | C$168M | C$165M | C$161M | C$1.78M | C$789,003 |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Silvercorp Metals SVM.TO | $1.99B | -31% | +59% | 56% | 12.9× | 4.7% |
| Fresnillo FRES.L | $24.9B | -31% | +48% | 59% | 11.8× | -8.2% |
| Lundin Gold LUG.TO | $17.0B | +7% | +36% | 65% | 16.0× | 9.9% |
| Hecla Mining HL | $9.90B | -21% | +30% | 48% | 18.1× | 8.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SVM.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.3% | -4.9% | 3rd lowest of 21 |
| 6-month return | -31.4% | -15.8% | 5th lowest of 19 |
| Distance from 52-week high | -41.8% | -36.0% | 9th lowest of 21 |
| Revenue growth (TTM) | +59.2% | +56.6% | 8th highest of 16 |
| Operating margin | 56.5% | 34.0% | highest of 16 |
| Forward P/E | 12.9× | 10.9× | 4th most expensive of 12 |
| Growth the price implies (Req g, 7 yrs) | 4.7% | -1.2% | 5th most demanding of 12 |
| Growth delivered (Del g) | +19.0% | +19.6% | 6th lowest of 12 |
| Hurdle (Req g minus delivered) | -14.3 pp | -17.6 pp | 5th most demanding of 12 |
| ROIC minus cost of capital | +4.7 pp | +11.4 pp | 9th lowest of 18 |
| EV / EBITDA | 6.1× | 5.0× | 4th most expensive of 10 |
| Net debt / EBITDA | -0.9× | -0.0× | least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Silvercorp Metals SVM.TO | Canada | $1.99B | -31% | +59% | 56% | 12.9× | 4.7% | +19.0% |
| Mineros MSA.TO | Canada | $2.00B | +73% | +77% | 39% | 7.3× | -5.8% | +11.8% |
| DRDGOLD Ltd. Sponsored ADR DRD | United States | $2.00B | -16% | +53% | 51% | 8.1× | -16.4% | +14.1% |
| Sinda SIND | United States | $1.95B | n/a | n/a | n/a | n/a | n/a | n/a |
| Ora Banda Mining OBM.AX | Australia | $1.93B | +4% | +101% | 39% | 16.6× | 1.1% | +101.1% |
| Snowline Gold SGD.TO | Canada | $1.93B | -6% | n/a | n/a | n/a | n/a | n/a |
| Sino-Platinum Metals 600459.SS | China | $2.06B | -17% | -27% | 2% | 19.0× | n/a | n/a |
| Sunshine Silver Mining & Refining SSMR | United States | $1.91B | n/a | +422% | -3,022% | n/a | n/a | n/a |
| Henan Yuguang Gold & Lead 600531.SS | China | $1.83B | -32% | +48% | 2% | n/a | 7.9% | +19.6% |
| Resolute Mining RSG.AX | Australia | $1.81B | -12% | +5% | 35% | 10.0× | -7.2% | +8.9% |
| Hycroft Mining HYMC | United States | $1.75B | -51% | n/a | n/a | n/a | n/a | n/a |
| Tongguan Gold 0340.HK | Hong Kong | $1.73B | -14% | +65% | 52% | 8.2× | -9.9% | +48.9% |
| Endeavour Silver EDR.TO | Canada | $2.34B | -20% | +198% | 26% | 10.9× | n/a | n/a |
| Southern Cross Gold Consolidated SXGC.TO | Canada | $1.65B | -9% | n/a | n/a | n/a | n/a | n/a |
| Beijing Xiaocheng Technology Stock 300139.SZ | China | $1.64B | -25% | +39% | 27% | n/a | 33.6% | +27.8% |
| Alkane Resources ALK.AX | Australia | $1.63B | +11% | +403% | 34% | 11.9× | -1.2% | +48.9% |
| Shandong Humon Smelting 002237.SZ | China | $2.44B | -32% | +25% | 1% | 11.2× | n/a | n/a |
| Perpetua Resources PPTA | United States | $2.44B | -35% | n/a | n/a | n/a | n/a | n/a |
| Sichuan Gold 001337.SZ | China | $2.52B | -25% | +57% | 56% | n/a | 17.7% | +13.6% |
| Orezone Gold ORE.TO | Canada | $1.46B | +31% | +93% | 40% | 6.9× | -8.0% | +110.4% |
| Bellevue Gold BGL.AX | Australia | $1.46B | -16% | +14% | 5% | 13.3× | 41.2% | +13.9% |