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Gold · Basic Materials · Fiscal year ends Mar 31
Silvercorp Metals reported revenue of $438M in the fiscal year ended Mar 2026, up 46.6% from the year before. Operating income was $82M, an operating margin of 18.7%, and net income was $33M. Operating cash flow of $311M less capital expenditure of $13M left free cash flow of $298M.
Ranks among the 26 gold companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue | 218 | 208 | 215 | 299 | 438 |
| Cost of revenue | 134 | 137 | 135 | 175 | 184 |
| Gross profit | 84.3 | 70.8 | 80.6 | 124 | 254 |
| Selling, general & admin | – | 4.4 | 4.7 | – | – |
| Operating income | 62.6 | 33.7 | 63.9 | 103 | 82.1 |
| Interest expense | 10.7 | 3.3 | 0.2 | 6.7 | 12.2 |
| Pre-tax income | 57.1 | 35.1 | 70.0 | 105 | 80.4 |
| Income tax | 13.8 | 14.0 | 20.3 | 26.2 | 47.5 |
| Net income | 43.3 | 21.1 | 49.7 | 78.8 | 32.9 |
| Diluted EPS | 0.17 | 0.12 | 0.20 | 0.28 | −0.05 |
| Diluted shares | 178 | 179 | 179 | 206 | 219 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 113 | 146 | 153 | 364 | 422 |
| Receivables | 3.6 | 1.8 | 2.2 | 1.1 | 1.6 |
| Inventory | 9.1 | 8.3 | 7.4 | 8.0 | 9.5 |
| Current assets | 232 | 219 | 202 | 387 | 443 |
| Net PP&E | 79.4 | 80.1 | 79.9 | 93.8 | 109 |
| Total assets | 724 | 677 | 703 | 1,139 | 1,464 |
| Payables | 39.7 | 36.7 | 41.8 | 63.9 | 85.2 |
| Current liabilities | 46.0 | 41.2 | 47.2 | 76.6 | 124 |
| Total liabilities | 103 | 97.0 | 106 | 306 | 359 |
| Shareholders' equity | 512 | 489 | 507 | 703 | 941 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 107 | 85.6 | 91.6 | 139 | 311 |
| Capital expenditure | 10.7 | 13.3 | 11.5 | 20.0 | 12.9 |
| Free cash flow | 96.6 | 72.4 | 80.0 | 119 | 298 |
| Depreciation & amortisation | 25.1 | 1.7 | 27.3 | 31.0 | 35.1 |
| Stock-based compensation | 6.1 | 4.1 | 4.1 | 3.7 | 4.1 |
| Acquisitions | 13.1 | – | – | – | 91.7 |
| Share buybacks | – | – | – | 1.0 | – |
| Dividends paid | 4.4 | 4.4 | 4.4 | 4.9 | 5.5 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −4.5% | 3.4% | 38.9% | 46.6% |
| Operating income growth (YoY) | – | −46.1% | 89.4% | 61.4% | −20.4% |
| EPS growth (YoY) | – | −29.4% | 66.7% | 40.0% | −117.9% |
| Gross margin | 38.7% | 34.0% | 37.5% | 41.3% | 57.9% |
| Operating margin | 28.7% | 16.2% | 29.7% | 34.5% | 18.7% |
| Net margin | 19.9% | 10.1% | 23.1% | 26.4% | 7.5% |
| Return on equityBlank when equity is negative | 8.4% | 4.3% | 9.8% | 11.2% | 3.5% |
| ROCEEBIT ÷ (assets − current liabilities) | 9.2% | 5.3% | 9.7% | 9.7% | 6.1% |
| Free cash flow margin | 44.4% | 34.8% | 37.2% | 39.7% | 67.9% |
| Cash conversion (CFO ÷ net income) | 2.48x | 4.06x | 1.84x | 1.76x | 9.43x |
| Receivable days | 6 | 3 | 4 | 1 | 1 |
| Inventory days | 25 | 22 | 20 | 17 | 19 |
| Payable days | 108 | 98 | 113 | 133 | 169 |
| Interest cover | 5.84x | 10.4x | 300x | 15.4x | 6.74x |
| Current ratio | 5.05x | 5.31x | 4.28x | 5.05x | 3.58x |
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.