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Metals & mining · Basic Materials · Fiscal year ends Dec 31
SSR Mining reported revenue of $1.6B in the fiscal year ended Dec 2025, up 62.4% from the year before. Operating income was $461M, an operating margin of 28.8%, and net income was $396M. Operating cash flow of $472M less capital expenditure of $230M left free cash flow of $242M. It held more cash than debt (net cash $235M).
Ranks among the 22 metals & mining companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 1,474 | 1,148 | 1,415 | 987 | 1,603 |
| Cost of revenue | 671 | 608 | 804 | 514 | 653 |
| Gross profit | 803 | 540 | 611 | 473 | 950 |
| Operating income | 444 | 190 | −130 | −322 | 461 |
| Interest expense | 19.1 | 19.1 | 16.6 | 13.0 | 14.6 |
| Pre-tax income | 415 | 241 | −202 | −319 | 443 |
| Income tax | −14.1 | 30.1 | −82.5 | 33.3 | 80.2 |
| Net income | 368 | 194 | −98.0 | −261 | 396 |
| Diluted EPS | 1.63 | 0.89 | −0.48 | −1.29 | 1.85 |
| Diluted shares | 228 | 222 | 205 | 202 | 217 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 1,018 | 655 | 492 | 388 | 516 |
| Receivables | 86.1 | 62.6 | 91.3 | 84.2 | 94.0 |
| Inventory | 389 | 502 | 515 | 464 | 489 |
| Current assets | 1,600 | 1,376 | 1,196 | 1,029 | 1,287 |
| Net PP&E | 3,250 | 3,549 | 3,873 | – | – |
| Goodwill | 49.8 | 49.8 | 0.0 | – | – |
| Total assets | 5,211 | 5,255 | 5,386 | 5,189 | 6,094 |
| Payables | 34.8 | 78.9 | 37.1 | 30.5 | 25.4 |
| Current liabilities | 284 | 279 | 171 | 219 | 618 |
| Short-term debt | 71.5 | 71.8 | 0.9 | 11.0 | 230 |
| Long-term debt | 295 | 227 | 228 | 229 | 51.4 |
| Total liabilities | 1,159 | 1,128 | 1,082 | 1,242 | 1,780 |
| Shareholders' equity | 3,538 | 3,580 | 3,373 | 3,107 | 3,508 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 609 | 161 | 422 | 40.1 | 472 |
| Capital expenditure | 165 | 138 | 223 | 144 | 230 |
| Free cash flow | 444 | 23.4 | 198 | −103 | 242 |
| Depreciation & amortisation | 228 | 181 | 214 | 130 | 116 |
| Stock-based compensation | 14.8 | 6.5 | 5.2 | 4.7 | 44.6 |
| Share buybacks | 148 | 100 | 56.3 | 9.8 | 0.0 |
| Dividends paid | 43.2 | 58.8 | 57.7 | 0.0 | 0.0 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −22.1% | 23.3% | −30.3% | 62.4% |
| Operating income growth (YoY) | – | −57.2% | −168.5% | – | – |
| EPS growth (YoY) | – | −45.4% | −153.9% | – | – |
| Gross margin | 54.5% | 47.0% | 43.2% | 47.9% | 59.3% |
| Operating margin | 30.1% | 16.6% | −9.2% | −32.7% | 28.8% |
| Net margin | 25.0% | 16.9% | −6.9% | −26.5% | 24.7% |
| Return on equityBlank when equity is negative | 10.4% | 5.4% | −2.9% | −8.4% | 11.3% |
| ROCEEBIT ÷ (assets − current liabilities) | 9.0% | 3.8% | −2.5% | −6.5% | 8.4% |
| Free cash flow margin | 30.1% | 2.0% | 14.0% | −10.5% | 15.1% |
| Cash conversion (CFO ÷ net income) | 1.65x | 0.83x | −4.30x | −0.15x | 1.19x |
| Receivable days | 21 | 20 | 24 | 31 | 21 |
| Inventory days | 212 | 301 | 234 | 330 | 273 |
| Payable days | 19 | 47 | 17 | 22 | 14 |
| Interest cover | 23.3x | 9.95x | −7.84x | −24.7x | 31.7x |
| Debt ÷ equity | 0.10x | 0.08x | 0.07x | 0.08x | 0.08x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −651 | −357 | −264 | −148 | −235 |
| Current ratio | 5.64x | 4.93x | 7.01x | 4.70x | 2.08x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.