Ssr Mining Inc.
SSRM Nasdaq Mineral Royalty Traders Financials FY2019–FY2025
Revenue
Total sales reported in the income statement.
$1.6B
63.7%
vs prior year
Operating margin
Operating income as a share of revenue.
28.3%
60.7 pts
Net income
Profit after all expenses, interest and tax.
$396M
Free cash flow
Cash from operations minus capital spending.
$242M
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
11.7%
20.4 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On $1.10 EPS (TTM)
What Ssr Mining Inc. does
No business description yet.
- Legal name
- SSR MINING INC.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 17, 2026
- Accession · CIK
- 0000921638-26-000035
0000921638
Revenue and margins
Ssr Mining Inc. had $1.6B of revenue in fiscal 2025, up 63.7% on the year before.
FY19
Revenue $607M
FY20
Revenue $853M
FY21
Revenue $1.5B
FY22
Revenue $1.1B
FY23
Revenue $1.4B
FY24
Revenue $996M
FY25
Revenue $1.6B
Q3 '23
Revenue $385M
Q4 '23
Revenue $426M
Q1 '24
Revenue $230M
Q2 '24
Revenue $185M
Q3 '24
Revenue $257M
Q4 '24
Revenue $323M
Q1 '25
Revenue $317M
Q2 '25
Revenue $405M
Q3 '25
Revenue $386M
Q4 '25
Revenue $522M
Q1 '26
Revenue $582M
Q2 '26
Revenue $444M
FY19
Gross 42.4%
Operating 19.5%
Net 16.9%
FCF 1.2%
FY20
Gross 47.9%
Operating 22.1%
Net 17.8%
FCF 19.7%
FY21
Gross 54.5%
Operating 30.1%
Net 25.0%
FCF 30.1%
FY22
Gross —
Operating 16.6%
Net 16.9%
FCF 2.0%
FY23
Gross —
Operating −9.1%
Net −6.9%
FCF 13.9%
FY24
Gross —
Operating −32.4%
Net −26.2%
FCF −10.4%
FY25
Gross —
Operating 28.3%
Net 24.3%
FCF 14.8%
Gross
Operating
Net
FCF
Q3 '23
Gross —
Operating 20.1%
Net 3.9%
FCF 21.0%
Q4 '23
Gross —
Operating −69.9%
Net −51.1%
FCF 33.9%
Q1 '24
Gross —
Operating −163.5%
Net −124.7%
FCF −4.1%
Q2 '24
Gross —
Operating 5.8%
Net 5.2%
FCF −61.9%
Q3 '24
Gross —
Operating 3.5%
Net 4.1%
FCF −12.8%
Q4 '24
Gross —
Operating 10.6%
Net 1.7%
FCF 17.5%
Q1 '25
Gross —
Operating 33.7%
Net 18.6%
FCF 11.9%
Q2 '25
Gross —
Operating 41.5%
Net 22.2%
FCF 23.5%
Q3 '25
Gross —
Operating 21.6%
Net 17.0%
FCF 0.6%
Q4 '25
Gross —
Operating 38.8%
Net 34.8%
FCF 20.4%
Q1 '26
Gross —
Operating 51.6%
Net −18.3%
FCF 30.2%
Q2 '26
Gross —
Operating 43.2%
Net 21.9%
FCF 15.3%
Gross
Operating
Net
FCF
Net income and earnings per share
From fiscal 2019 to 2025, diluted EPS grew 15.5% a year. Loss periods are shown in red.
FY19
Net income $103M
FY20
Net income $152M
FY21
Net income $368M
FY22
Net income $194M
FY23
Net income −$98.0M
FY24
Net income −$261M
FY25
Net income $396M
Q3 '23
Net income $15.2M
Q4 '23
Net income −$218M
Q1 '24
Net income −$287M
Q2 '24
Net income $9.7M
Q3 '24
Net income $10.6M
Q4 '24
Net income $5.6M
Q1 '25
Net income $58.8M
Q2 '25
Net income $90.1M
Q3 '25
Net income $65.4M
Q4 '25
Net income $181M
Q1 '26
Net income −$106M
Q2 '26
Net income $97.3M
FY19
Diluted EPS $0.78
FY20
Diluted EPS $0.96
FY21
Diluted EPS $1.63
FY22
Diluted EPS $0.89
FY23
Diluted EPS −$0.48
FY24
Diluted EPS −$1.29
FY25
Diluted EPS $1.85
Q3 '23
Diluted EPS $0.07
Q4 '23
Diluted EPS −$1.04
Q1 '24
Diluted EPS −$1.42
Q2 '24
Diluted EPS $0.05
Q3 '24
Diluted EPS $0.05
Q4 '24
Diluted EPS $0.03
Q1 '25
Diluted EPS $0.28
Q2 '25
Diluted EPS $0.42
Q3 '25
Diluted EPS $0.31
Q4 '25
Diluted EPS $0.84
Q1 '26
Diluted EPS −$0.52
Q2 '26
Diluted EPS $0.47
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY19
Return on capital —
Return on equity 9.9%
Return on assets 6.1%
FY20
Return on capital 5.1%
Return on equity 6.9%
Return on assets 4.4%
FY21
Return on capital 15.6%
Return on equity 10.7%
Return on assets 7.1%
FY22
Return on capital 5.2%
Return on equity 5.5%
Return on assets 3.7%
FY23
Return on capital −3.3%
Return on equity −2.8%
Return on assets −1.8%
FY24
Return on capital −8.7%
Return on equity −8.1%
Return on assets −4.9%
FY25
Return on capital 11.7%
Return on equity 12.0%
Return on assets 7.0%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $242M in fiscal 2025, 14.8% of revenue. Cash from operations minus capital spending.
FY19
Free cash flow $7.5M
FY20
Free cash flow $168M
FY21
Free cash flow $444M
FY22
Free cash flow $23.4M
FY23
Free cash flow $198M
FY24
Free cash flow −$103M
FY25
Free cash flow $242M
Q3 '23
Free cash flow $81.0M
Q4 '23
Free cash flow $144M
Q1 '24
Free cash flow −$9.4M
Q2 '24
Free cash flow −$114M
Q3 '24
Free cash flow −$33.1M
Q4 '24
Free cash flow $56.4M
Q1 '25
Free cash flow $37.5M
Q2 '25
Free cash flow $95.1M
Q3 '25
Free cash flow $2.2M
Q4 '25
Free cash flow $106M
Q1 '26
Free cash flow $176M
Q2 '26
Free cash flow $67.8M
FY19
Cash from operations $118M
Capital spending $111M
FY20
Cash from operations $307M
Capital spending $139M
FY21
Cash from operations $609M
Capital spending $165M
FY22
Cash from operations $161M
Capital spending $138M
FY23
Cash from operations $422M
Capital spending $223M
FY24
Cash from operations $40.1M
Capital spending $144M
FY25
Cash from operations $472M
Capital spending $230M
Cash from operations
Capital spending
Q3 '23
Cash from operations $135M
Capital spending $54.2M
Q4 '23
Cash from operations $203M
Capital spending $58.8M
Q1 '24
Cash from operations $24.6M
Capital spending $34.0M
Q2 '24
Cash from operations −$78.1M
Capital spending $36.3M
Q3 '24
Cash from operations −$1.3M
Capital spending $31.7M
Q4 '24
Cash from operations $95.0M
Capital spending $38.6M
Q1 '25
Cash from operations $82.3M
Capital spending $44.8M
Q2 '25
Cash from operations $158M
Capital spending $62.5M
Q3 '25
Cash from operations $59.9M
Capital spending $57.7M
Q4 '25
Cash from operations $172M
Capital spending $65.7M
Q1 '26
Cash from operations $264M
Capital spending $88.8M
Q2 '26
Cash from operations $100M
Capital spending $32.5M
Cash from operations
Capital spending
Dividends, buybacks and share count
Ssr Mining Inc. returned $0.0M to shareholders in fiscal 2025, 0% of free cash flow. The diluted share count rose 7.3%.
FY19
Dividends $0.0M
Buybacks $0.0M
FY20
Dividends $0.0M
Buybacks $0.0M
FY21
Dividends $43.2M
Buybacks $148M
FY22
Dividends $58.8M
Buybacks $100M
FY23
Dividends $57.7M
Buybacks $56.3M
FY24
Dividends $0.0M
Buybacks $9.8M
FY25
Dividends $0.0M
Buybacks $0.0M
Dividends
Buybacks
Q3 '23
Dividends $14.4M
Buybacks $0.0M
Q4 '23
Dividends $14.5M
Buybacks $11.0M
Q1 '24
Dividends $0.0M
Buybacks $9.8M
Q2 '24
Dividends $0.0M
Buybacks $0.0M
Q3 '24
Dividends $0.0M
Buybacks $0.0M
Q4 '24
Dividends $0.0M
Buybacks $0.0M
Q1 '25
Dividends —
Buybacks $0.0M
Q2 '25
Dividends —
Buybacks $0.0M
Q3 '25
Dividends —
Buybacks $0.0M
Q4 '25
Dividends —
Buybacks $0.0M
Q1 '26
Dividends —
Buybacks —
Q2 '26
Dividends —
Buybacks —
Dividends
Buybacks
FY19
Diluted shares 0.14B
FY20
Diluted shares 0.16B
FY21
Diluted shares 0.23B
FY22
Diluted shares 0.22B
FY23
Diluted shares 0.20B
FY24
Diluted shares 0.20B
FY25
Diluted shares 0.22B
Balance sheet
Cash, debt and the ratios that show how comfortably Ssr Mining Inc. can carry it.
FY19
Cash $504M
Debt —
FY20
Cash $887M
Debt $438M
FY21
Cash $1.1B
Debt $485M
FY22
Cash $696M
Debt $405M
FY23
Cash $513M
Debt $319M
FY24
Cash $417M
Debt $315M
FY25
Cash $556M
Debt $364M
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $1.1B | $696M | $513M | $417M | $556M |
| Debt incl. finance leases | $485M | $405M | $319M | $315M | $364M |
| Net debt / EBITDA | −0.9x | −0.8x | −2.3x | — | −0.3x |
| Debt / equity | 0.1x | 0.1x | 0.1x | 0.1x | 0.1x |
| Interest coverage | 23.3x | 10.0x | −7.8x | −24.7x | 31.7x |
| Current ratio | 5.6x | 4.9x | 7.0x | 4.7x | 2.1x |
| Quick ratio | 4.3x | 3.1x | 4.0x | 2.6x | 1.3x |
| Total assets | $5.2B | $5.3B | $5.4B | $5.2B | $6.1B |
| Total liabilities | $1.2B | $1.1B | $1.1B | $1.2B | $1.8B |
| Shareholders' equity | $3.5B | $3.6B | $3.4B | $3.1B | $3.5B |
| Net debt (− = net cash) | −$573M | −$291M | −$194M | −$103M | −$192M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ | ✓ | ✕ | ✕ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | ✕ | ✓ | ✕ | ✕ | ✕ | ✓ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✕ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | — | ✓ | ✓ | ✓ | ✕ | ✕ |
| Current ratio rose | — | — | ✕ | ✕ | ✓ | ✕ | ✕ |
| Share count didn't rise | — | ✕ | ✕ | ✓ | ✓ | ✓ | ✕ |
| Gross margin rose | — | ✓ | ✓ | — | — | — | — |
| Revenue rose relative to assets | — | ✕ | ✓ | ✕ | ✓ | ✕ | ✓ |
| F-score | — / 3 | 4 / 7 | 7 / 9 | 4 / 8 | 6 / 8 | 3 / 8 | 5 / 8 |
| Accruals ratio | −0.9% | −4.5% | −4.6% | 0.6% | −9.8% | −5.7% | −1.3% |
| Altman Z'' | — | 4.43 | 5.68 | 5.27 | 4.58 | 3.30 | 3.57 |
7 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $607M | $853M | $1.5B | $1.1B | $1.4B | $996M | $1.6B |
| Gross profit | $257M | $409M | $803M | — | — | — | — |
| Operating income | $118M | $188M | $444M | $190M | −$130M | −$322M | $461M |
| Interest expense | $12.8M | $13.9M | $19.1M | $19.1M | $16.6M | $13.0M | $14.6M |
| Pretax income | $137M | $202M | $415M | $241M | −$202M | −$319M | $443M |
| Income tax | $35.4M | $43.2M | −$14.1M | $30.1M | −$82.5M | $33.3M | $80.2M |
| Net income | $103M | $152M | $368M | $194M | −$98.0M | −$261M | $396M |
| Net income to common | — | $152M | $368M | $194M | −$98.0M | −$261M | $396M |
| Diluted EPS | $0.78 | $0.96 | $1.63 | $0.89 | −$0.48 | −$1.29 | $1.85 |
| Diluted shares | 0.14B | 0.16B | 0.23B | 0.22B | 0.20B | 0.20B | 0.22B |
| Cash flow | |||||||
| Cash from operations | $118M | $307M | $609M | $161M | $422M | $40.1M | $472M |
| Capital expenditure | $111M | $139M | $165M | $138M | $223M | $144M | $230M |
| Free cash flow | $7.5M | $168M | $444M | $23.4M | $198M | −$103M | $242M |
| Depreciation and amortization | $85.6M | $109M | $228M | $181M | $214M | $130M | $116M |
| Stock-based compensation | $14.4M | $15.9M | $14.8M | $6.5M | $5.2M | $4.7M | $44.6M |
| Share buybacks | $0.0M | $0.0M | $148M | $100M | $56.3M | $9.8M | $0.0M |
| Dividends paid | $0.0M | $0.0M | $43.2M | $58.8M | $57.7M | $0.0M | $0.0M |
| Dividends and buybacks | $0.0M | $0.0M | $191M | $159M | $114M | $9.8M | $0.0M |
| Balance sheet | |||||||
| Cash and short-term investments | $504M | $887M | $1.1B | $696M | $513M | $417M | $556M |
| Total debt | — | $438M | $367M | $298M | $228M | $229M | $281M |
| Finance lease liabilities | — | — | $118M | $106M | $90.7M | $86.2M | $83.1M |
| Current assets | — | $1.4B | $1.6B | $1.4B | $1.2B | $1.0B | $1.3B |
| Current liabilities | — | $249M | $284M | $279M | $171M | $219M | $618M |
| Inventory | — | $437M | $389M | $502M | $515M | $464M | $489M |
| Goodwill | — | $49.8M | $49.8M | $49.8M | $0.0M | — | — |
| Total assets | $1.7B | $5.2B | $5.2B | $5.3B | $5.4B | $5.2B | $6.1B |
| Total liabilities | — | $1.3B | $1.2B | $1.1B | $1.1B | $1.2B | $1.8B |
| Shareholders' equity | $1.0B | $3.3B | $3.5B | $3.6B | $3.4B | $3.1B | $3.5B |
| Margins | |||||||
| Gross margin | 42.4% | 47.9% | 54.5% | — | — | — | — |
| Operating margin | 19.5% | 22.1% | 30.1% | 16.6% | −9.1% | −32.4% | 28.3% |
| EBITDA margin | 33.6% | 34.9% | 45.6% | 32.4% | 5.9% | −19.3% | 35.4% |
| Net margin | 16.9% | 17.8% | 25.0% | 16.9% | −6.9% | −26.2% | 24.3% |
| FCF margin | 1.2% | 19.7% | 30.1% | 2.0% | 13.9% | −10.4% | 14.8% |
| Returns | |||||||
| Return on capital | — | 5.1% | 15.6% | 5.2% | −3.3% | −8.7% | 11.7% |
| Return on capital employed | — | 3.8% | 9.0% | 3.8% | −2.5% | −6.5% | 8.4% |
| Return on equity | 9.9% | 6.9% | 10.7% | 5.5% | −2.8% | −8.1% | 12.0% |
| Return on assets | 6.1% | 4.4% | 7.1% | 3.7% | −1.8% | −4.9% | 7.0% |
| Return on tangible equity | 9.9% | 4.6% | 10.6% | 5.5% | −2.9% | −8.4% | 11.3% |
| Growth | |||||||
| Revenue growth | — | 40.6% | 72.8% | −22.1% | 24.3% | −30.2% | 63.7% |
| Net income growth | — | 47.4% | 142.9% | −47.3% | −150.5% | — | — |
| EPS growth | — | 23.1% | 69.8% | −45.4% | −153.9% | — | — |
| FCF growth | — | 2,137.0% | 164.2% | −94.7% | 748.1% | −152.1% | — |
| Share count change | — | 20.9% | 39.4% | −2.5% | −8.0% | −1.2% | 7.3% |
| Financial health | |||||||
| Net debt / EBITDA | — | −1.5x | −0.9x | −0.8x | −2.3x | — | −0.3x |
| Debt / equity | — | 0.1x | 0.1x | 0.1x | 0.1x | 0.1x | 0.1x |
| Interest coverage | 9.3x | 13.6x | 23.3x | 10.0x | −7.8x | −24.7x | 31.7x |
| Current ratio | — | 5.7x | 5.6x | 4.9x | 7.0x | 4.7x | 2.1x |
| Quick ratio | — | 4.0x | 4.3x | 3.1x | 4.0x | 2.6x | 1.3x |
| Capital allocation | |||||||
| Capex / revenue | 18.2% | 16.3% | 11.2% | 12.0% | 15.7% | 14.4% | 14.1% |
| Stock comp / revenue | 2.4% | 1.9% | 1.0% | 0.6% | 0.4% | 0.5% | 2.7% |
| Payouts / FCF | 0.0% | 0.0% | 43.1% | 679.4% | 57.5% | — | 0.0% |
| Quality scores | |||||||
| Piotroski F-score | — | 4.0 | 7.0 | 4.0 | 6.0 | 3.0 | 5.0 |
| Altman Z'' | — | 4.4 | 5.7 | 5.3 | 4.6 | 3.3 | 3.6 |
| Accruals ratio | −0.9% | −4.5% | −4.6% | 0.6% | −9.8% | −5.7% | −1.3% |
Source: SEC EDGAR XBRL filings (CIK 0000921638). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.