Is the Silver sector outperforming S&P 500?
Silver has outperformed S&P 500 by 94.8% over 52 weeks and 16.4% over 13 weeks. 2 of 6 covered companies beat the S&P 500 on Mansfield relative strength, while 2 of 6 beat the sector itself.
20-quarter listed-company comparison
Silver Stocks
Silver: First Majestic Silver Corp. owns the largest revenue base AND the fastest current growth.
The industry itself · before any single company
How has Silver moved against S&P 500?
The line below covers 5.2 years. Over the most recent two of them this industry is 191% ahead of S&P 500. Earnings across its companies fell 85% on average over the last four reported quarters.
ASLEEP · 1y +121.8%✓Price up, without the fundamentals confirming1 of 6 companies ahead of S&P 500 by 5% or more over three months
RS — · 2/6 >200d (−2) · 1/6 lead (+0) · EPS 4/6↑
Silver, equal-weighted, based at 200
S&P 500, same base, same start
trailing 12-month earnings per share rising
falling
Strength anatomy
NarrowHow much of the industry is participating, how recently, and whether the movers score well.
Together1 of 6 stocks moving
Fresh0 crossed in the last 4 weeks
Backed by scoresmovers score +20 vs the industry average
Down the cap ladder — bar is now, tick is four weeks ago
Large
1/20
Mid
0/20
Small
0/20
Participation is not spreading downward this month; the larger companies are still carrying most of it.
Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 6 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.
Sector relative strength · before individual stocks
Is Silver outperforming S&P 500?
Silver has outperformed S&P 500 by 94.8% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 16.4%. 2 of 6 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. New Pacific Metals Corp. is the strongest against the sector itself at +14.8%.
-16.4%Sector vs S&P 500 · 13 weeks
+94.8%Sector vs S&P 500 · 52 weeks
2/6Stocks leading S&P 500
2/6Stocks leading sector
Sector metric: — as of latest available · unclassified · direction unavailable.
The central tension: current leadership is concentrated, so durability matters more than rank.
Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.
Bottom line
Silver has outperformed S&P 500 by 94.8% over 52 weeks and 16.4% over 13 weeks. 2 of 6 covered companies beat the S&P 500 on Mansfield relative strength, while 2 of 6 beat the sector itself. First Majestic Silver Corp. leads with revenue of $1,490 million, based on 4 of 8 comparable companies through Mar 2026.
Which Silver company is largest by revenue?
First Majestic Silver Corp. leads with revenue of $1,490 million, based on 4 of 8 comparable companies through Mar 2026.
Which Silver company is growing fastest?
First Majestic Silver Corp. has the fastest current revenue growth at 100%, across 4 of 8 comparable companies.
Which Silver company has the strongest 4-Factor Sector Score?
Aya Gold & Silver Inc. ranks first at 74.9/100 with 64.7% evidence confidence. The score prioritizes research; it is not a buy recommendation.
Which Silver company reports the most CAPEX?
First Majestic Silver Corp. reports the largest latest CAPEX at $47 million, with 8 of 8 companies comparable.
Which Silver company has the least gross debt?
Sunshine Silver Mining & Refining Company has the lowest comparable gross debt at $0 million. First Majestic Silver Corp. has the highest at $314 million.
Which Silver company has the lowest comparable PEG?
Silvercorp Metals Inc. has the lowest comparable Guarded PEG at 0.71, among 1 of 8 companies that pass the metric’s comparability rules.
How much history does this Silver comparison include?
The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Mar 2026. Missing observations remain blank rather than being estimated.
How is the 4-Factor Sector Score calculated?
The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.
Companies
8
complete canonical membership
Combined market value
$20.5B
First Majestic Silver Corp.
Revenue growing
4/4
positive TTM year-on-year growth
Beating S&P 500
2/6
positive Mansfield relative strength
Global company selection
00 · research priority, made explicit
4-Factor Sector Score
An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.
Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Aya Gold & Silver Inc. has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 64.7% evidence confidence.
New Pacific Metals Corp. has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.
1. Aya Gold & Silver Inc. · AYA
74.9/100 · Favorable setup · 65% evidence
Exact sum: 28.9 + 17.2 + 10 + 18.8 = 74.9
Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
28.9/35Growth & earnings
Revenue 100% · PAT — · OPM change 56.4 pp
71% evidence
17.2/25Capital efficiency
ROCE 17.4% · debt/equity 0.21×
80% evidence
10.0/20Valuation
P/E 25.5× · PEG —
0% evidence
18.8/20Relative strength
RS sector 13.6% · RS bench 19.8% · 1Y 121.7%
100% evidence
2. Silvercorp Metals Inc. · SVM
57.1/100 · Mixed-positive evidence · 75% evidence
Exact sum: 25.8 + 11.5 + 15 + 4.8 = 57.1
Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -7.2% and the one-year return is 117.4%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
25.8/35Growth & earnings
Revenue 46.1% · PAT -59% · OPM change 22.5 pp
71% evidence
11.5/25Capital efficiency
ROCE 3.1% · debt/equity 0.11×
80% evidence
15.0/20Valuation
P/E 51.7× · PEG 0.71
50% evidence
4.8/20Relative strength
RS sector -7.2% · RS bench -4.2% · 1Y 117.4%
100% evidence
3. Endeavour Silver Corp. · EXK
54.1/100 · Mixed-positive evidence · 65% evidence
Exact sum: 27.3 + 11.9 + 10 + 4.9 = 54.1
Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -24.1% and the one-year return is 56.3%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
27.3/35Growth & earnings
Revenue 100% · PAT — · OPM change 33.5 pp
71% evidence
11.9/25Capital efficiency
ROCE 10.3% · debt/equity 0.38×
80% evidence
10.0/20Valuation
P/E 65.7× · PEG —
0% evidence
4.9/20Relative strength
RS sector -24.1% · RS bench -19.1% · 1Y 56.3%
100% evidence
4. First Majestic Silver Corp. · AG
53.2/100 · Mixed-positive evidence · 65% evidence
Exact sum: 25.9 + 13.5 + 10 + 3.8 = 53.2
Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -17% and the one-year return is 100.4%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
25.9/35Growth & earnings
Revenue 100% · PAT — · OPM change 35.1 pp
71% evidence
13.5/25Capital efficiency
ROCE 5.8% · debt/equity 0.1×
80% evidence
10.0/20Valuation
P/E 35.8× · PEG —
0% evidence
3.8/20Relative strength
RS sector -17% · RS bench -14.4% · 1Y 100.4%
100% evidence
5. Highlander Silver Corp. · HSLV
49.4/100 · Thin evidence · provisional · 35% evidence
Exact sum: 16.9 + 13.9 + 10 + 8.6 = 49.4
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
16.9/35Growth & earnings
Revenue — · PAT — · OPM change —
4% evidence
13.9/25Capital efficiency
ROCE 3.5% · debt/equity 0×
80% evidence
10.0/20Valuation
P/E — · PEG —
0% evidence
8.6/20Relative strength
RS sector -6.7% · RS bench -3.9% · 1Y 90.2%
70% evidence
6. Sunshine Silver Mining & Refining Company · SSMR
47.9/100 · Thin evidence · provisional · 19% evidence
Exact sum: 17.2 + 10.7 + 10 + 10 = 47.9
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
17.2/35Growth & earnings
Revenue — · PAT — · OPM change —
4% evidence
10.7/25Capital efficiency
ROCE -51.5% · debt/equity 0×
68% evidence
10.0/20Valuation
P/E — · PEG —
0% evidence
10.0/20Relative strength
RS sector — · RS bench — · 1Y —
0% evidence
7. Sinda Ltd. · SIND
46.5/100 · Thin evidence · provisional · 20% evidence
Exact sum: 17.9 + 8.6 + 10 + 10 = 46.5
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
17.9/35Growth & earnings
Revenue — · PAT — · OPM change —
8% evidence
8.6/25Capital efficiency
ROCE -51.8% · debt/equity 0.04×
68% evidence
10.0/20Valuation
P/E — · PEG —
0% evidence
10.0/20Relative strength
RS sector — · RS bench — · 1Y —
0% evidence
8. New Pacific Metals Corp. · NEWP
46.2/100 · Thin evidence · provisional · 43% evidence
Exact sum: 14.1 + 8.7 + 10 + 13.4 = 46.2
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
14.1/35Growth & earnings
Revenue — · PAT — · OPM change —
33% evidence
8.7/25Capital efficiency
ROCE -1.1% · debt/equity —
46% evidence
10.0/20Valuation
P/E — · PEG —
0% evidence
13.4/20Relative strength
RS sector 14.8% · RS bench 18% · 1Y 216.8%
100% evidence
01 · compare level, then change
Revenue Scale & Growth Durability
First Majestic Silver Corp. has the highest Revenue among the 8 Silver companies compared here, at $1,490 million. Endeavour Silver Corp. is next at $615 million. The same company also holds the highest Revenue growth, at the 100% top of the scoring scale. 4 of 8 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: First Majestic Silver Corp. is the scale leader at $1,490 million, 142.3% ahead of Endeavour Silver Corp.. First Majestic Silver Corp.'s growth is stored at the ≥100% scoring cap; the uncapped TTM change is 113.5% from a $1,490 million base, with 20 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.
LeaderFirst Majestic Silver Corp. · $1,490 million
Gap142.3% versus #2 · Endeavour Silver Corp.
Persistence7/8 recent comparable periods
Coverage4/8 companies · 82 observations
Investor read: First Majestic Silver Corp. is the scale benchmark; First Majestic Silver Corp. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.
This conclusion weakens if: First Majestic Silver Corp.'s growth falls below First Majestic Silver Corp.'s for two consecutive comparable reports while operating margin also compresses.
Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1First Majestic Silver Corp. AG$1.5B
2Endeavour Silver Corp. EXK$615M
3Silvercorp Metals Inc. SVM$437M
4Aya Gold & Silver Inc. AYA$285M
Revenue growthfastest growers
1First Majestic Silver Corp. AG100%
2Aya Gold & Silver Inc. AYA100%
3Endeavour Silver Corp. EXK100%
4Silvercorp Metals Inc. SVM46%
Revenue · company comparison
4/8 level · 4/8 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Revenue | Revenue growth | Reported |
|---|---|---|---|
| First Majestic Silver Corp. AG | $477M | 95% | Mar 2026 |
| Endeavour Silver Corp. EXK | $210M | 228% | Mar 2026 |
| Silvercorp Metals Inc. SVM | $147M | 96% | Mar 2026 |
| Aya Gold & Silver Inc. AYA | $117M | 244% | Mar 2026 |
| Highlander Silver Corp. HSLV | $25M | — | Mar 2026 |
| Sunshine Silver Mining & Refining Company SSMR | $0M | — | Mar 2026 |
Full 20-quarter history · every available company
Revenue · reported quarter history
Aya Gold & Silver Inc. · AYA
$10M
$8M
$8M
$9M
$9M
$7M
$13M
$10M
$10M
$12M
$11M
$5M
$14M
$11M
$9M
$34M
$39M
$54M
$75M
$117M
Endeavour Silver Corp. · EXK
$48M
$35M
$49M
$58M
$31M
$40M
$82M
$55M
$50M
$49M
$50M
$64M
$58M
$53M
$42M
$64M
$89M
$143M
$173M
$210M
First Majestic Silver Corp. · AG
$154M
$125M
$205M
$157M
$159M
$160M
$148M
$157M
$147M
$133M
$137M
$106M
$136M
$146M
$172M
$244M
$264M
$285M
$464M
$477M
Highlander Silver Corp. · HSLV
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
$25M
Silvercorp Metals Inc. · SVM
$59M
$58M
$59M
$42M
$64M
$52M
$59M
$34M
$60M
$54M
$59M
$43M
$72M
$68M
$84M
$75M
$81M
$83M
$126M
$147M
Sunshine Silver Mining & Refining Company · SSMR
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
$0M
—
—
—
—
Revenue growth · reported quarter history
Aya Gold & Silver Inc. · AYA
—
—
—
—
-10%
-13%
63%
11%
11%
71%
-15%
-50%
40%
-8.3%
-18%
580%
179%
391%
733%
244%
Endeavour Silver Corp. · EXK
—
—
—
—
-35%
14%
67%
-5.2%
61%
23%
-39%
16%
16%
8.2%
-16%
0.0%
53%
170%
312%
228%
First Majestic Silver Corp. · AG
—
—
—
—
3.3%
28%
-28%
0.0%
-7.6%
-17%
-7.4%
-32%
-7.5%
9.8%
26%
130%
94%
95%
170%
95%
Silvercorp Metals Inc. · SVM
—
—
—
—
8.5%
-10%
0.0%
-19%
-6.3%
3.9%
0.0%
26%
20%
26%
42%
74%
13%
22%
50%
96%
02 · compare level, then change
Operating Economics & Margin Trend
Aya Gold & Silver Inc. has the highest OPM among the 8 Silver companies compared here, at 66.2%. Highlander Silver Corp. is next at 55.3%. The same company also holds the highest Margin change, at +56.4 percentage points. 5 of 8 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Aya Gold & Silver Inc. leads both opm at 66.2% and margin change at +56.4 percentage points.
LeaderAya Gold & Silver Inc. · 66.2%
Gap19.7% versus #2 · Highlander Silver Corp.
Persistence6/8 recent comparable periods
Coverage5/8 companies · 81 observations
Investor read: Aya Gold & Silver Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current margin change signal.
Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1Aya Gold & Silver Inc. AYA66%
2Highlander Silver Corp. HSLV55%
3First Majestic Silver Corp. AG50%
4Endeavour Silver Corp. EXK40%
5Silvercorp Metals Inc. SVM26%
Margin changefastest expanders
1Aya Gold & Silver Inc. AYA+56.4 pp
2First Majestic Silver Corp. AG+35.1 pp
3Endeavour Silver Corp. EXK+33.5 pp
4Silvercorp Metals Inc. SVM+22.5 pp
Operating margin · company comparison
5/8 level · 4/8 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | OPM | Margin change | Reported |
|---|---|---|---|
| Aya Gold & Silver Inc. AYA | 66% | +56.4 pp | Mar 2026 |
| Highlander Silver Corp. HSLV | 55% | — | Mar 2026 |
| First Majestic Silver Corp. AG | 50% | +35.1 pp | Mar 2026 |
| Endeavour Silver Corp. EXK | 40% | +33.5 pp | Mar 2026 |
| Silvercorp Metals Inc. SVM | 26% | +22.5 pp | Mar 2026 |
Full 20-quarter history · every available company
OPM · reported quarter history
Aya Gold & Silver Inc. · AYA
20%
13%
5.1%
2.7%
5.9%
-19%
22%
0.8%
-0.4%
31%
13%
-57%
12%
-28%
-369%
9.8%
19%
28%
48%
66%
Endeavour Silver Corp. · EXK
1.7%
8.8%
8.4%
22%
-4.4%
-3.3%
17%
13%
11%
-7.7%
0.4%
5.2%
2.9%
7.1%
-1.2%
6.5%
-5.4%
1.3%
20%
40%
First Majestic Silver Corp. · AG
11%
-8.8%
14%
-1.6%
2.1%
-9.6%
-17%
-92%
-13%
-14%
1.8%
-18%
-11%
2.8%
15%
15%
15%
28%
52%
50%
Highlander Silver Corp. · HSLV
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
55%
Silvercorp Metals Inc. · SVM
34%
29%
33%
14%
31%
-14%
29%
13%
30%
31%
30%
26%
47%
41%
47%
3.1%
38%
4.8%
7.6%
26%
Margin change · reported quarter history
Aya Gold & Silver Inc. · AYA
—
—
—
—
−14.3 pp
−31.4 pp
+16.8 pp
−1.9 pp
−6.3 pp
+49.7 pp
−9.3 pp
−57.3 pp
+12.5 pp
−59.0 pp
−381.8 pp
+66.3 pp
+6.9 pp
+55.7 pp
+417.5 pp
+56.4 pp
Endeavour Silver Corp. · EXK
—
—
—
—
−6.1 pp
−12.1 pp
+8.1 pp
−9.3 pp
+15.2 pp
−4.4 pp
−16.1 pp
−7.3 pp
−7.9 pp
+14.8 pp
−1.6 pp
+1.3 pp
−8.3 pp
−5.8 pp
+21.3 pp
+33.5 pp
First Majestic Silver Corp. · AG
—
—
—
—
−8.5 pp
−0.8 pp
−30.6 pp
−90.3 pp
−15.0 pp
−4.0 pp
+18.6 pp
+73.7 pp
+2.4 pp
+16.4 pp
+13.1 pp
+32.8 pp
+25.4 pp
+24.9 pp
+37.5 pp
+35.1 pp
Silvercorp Metals Inc. · SVM
—
—
—
—
−3.1 pp
−43.1 pp
−3.1 pp
−1.0 pp
−0.5 pp
+45.7 pp
+0.8 pp
+13.1 pp
+16.9 pp
+9.2 pp
+16.8 pp
−23.3 pp
−9.0 pp
−35.8 pp
−39.4 pp
+22.5 pp
03 · compare level, then change
Profit Scale & Acceleration
First Majestic Silver Corp. has the highest Net profit among the 8 Silver companies compared here, at $352 million. Aya Gold & Silver Inc. is next at $85 million. 5 of 8 companies report a comparable reading, the latest through Mar 2026. Its Net profit series carries 20 reported observations across the 20-quarter window.
What the numbers say: First Majestic Silver Corp. leads net profit at $352 million; the second comparison lacks enough current evidence.
LeaderFirst Majestic Silver Corp. · $352 million
Gap314.1% versus #2 · Aya Gold & Silver Inc.
Persistence1/4 recent comparable periods
Coverage5/8 companies · 122 observations
Investor read: First Majestic Silver Corp. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.
Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1First Majestic Silver Corp. AG$352M
2Aya Gold & Silver Inc. AYA$85M
3Silvercorp Metals Inc. SVM$32M
4New Pacific Metals Corp. NEWP$-5M
5Endeavour Silver Corp. EXK$-21M
Profit growthfastest growers
—Not enough comparable data—
Net profit · company comparison
5/8 level · 0/8 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Net profit | Profit growth | Reported |
|---|---|---|---|
| First Majestic Silver Corp. AG | $147M | 2,350% | Mar 2026 |
| Endeavour Silver Corp. EXK | $65M | -2,500% | Mar 2026 |
| Aya Gold & Silver Inc. AYA | $49M | 600% | Mar 2026 |
| Highlander Silver Corp. HSLV | $28M | 300% | Mar 2026 |
| Silvercorp Metals Inc. SVM | $16M | -110% | Mar 2026 |
| New Pacific Metals Corp. NEWP | $-1M | — | Mar 2026 |
| Sinda Ltd. SIND | $-12M | — | Mar 2026 |
| Sunshine Silver Mining & Refining Company SSMR | $-13M | — | Mar 2026 |
Full 20-quarter history · every available company
Net profit · reported quarter history
Aya Gold & Silver Inc. · AYA
$0M
$1M
$-1M
$-2M
$1M
$1M
$2M
$1M
$-1M
$1M
$4M
$-3M
$7M
$0M
$-15M
$7M
$9M
$12M
$15M
$49M
Endeavour Silver Corp. · EXK
$7M
$-4M
$0M
$12M
$-12M
$-1M
$8M
$6M
$-1M
$-2M
$3M
$-1M
$-14M
$-17M
$1M
$-33M
$-20M
$-42M
$-24M
$65M
First Majestic Silver Corp. · AG
$16M
$-18M
$-4M
$7M
$-84M
$-21M
$-17M
$-101M
$-18M
$-27M
$10M
$-14M
$-48M
$-27M
$-13M
$6M
$57M
$43M
$105M
$147M
Highlander Silver Corp. · HSLV
$0M
—
$0M
$0M
$0M
$-1M
$0M
$0M
$0M
$4M
$0M
$-1M
$0M
$1M
$-1M
$-2M
$-5M
$4M
—
$28M
New Pacific Metals Corp. · NEWP
$-2M
$-1M
$-1M
$-1M
$-2M
$-2M
$-2M
$-2M
$-2M
$-2M
$-2M
$-1M
$-1M
$-1M
$-1M
$-1M
$-1M
$-1M
$-2M
$-1M
Silvercorp Metals Inc. · SVM
$16M
$13M
$8M
$6M
$14M
$-10M
$15M
$2M
$13M
$15M
$14M
$8M
$28M
$23M
$31M
$-4M
$24M
$-5M
$-3M
$16M
Sinda Ltd. · SIND
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
$-3M
—
—
—
$-12M
Sunshine Silver Mining & Refining Company · SSMR
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
$-4M
—
—
—
$-13M
Profit growth · reported quarter history
Aya Gold & Silver Inc. · AYA
—
—
—
—
—
0.0%
—
—
-200%
0.0%
100%
-400%
—
-100%
-475%
—
29%
—
—
600%
Endeavour Silver Corp. · EXK
—
—
—
—
-271%
—
—
-50%
—
—
-63%
-117%
—
—
-67%
—
—
—
-2,500%
—
First Majestic Silver Corp. · AG
—
—
—
—
-625%
—
—
-1,543%
—
—
—
—
—
—
-230%
—
—
—
—
2,350%
Highlander Silver Corp. · HSLV
—
—
—
—
—
—
—
—
—
—
—
—
—
-75%
—
—
—
300%
—
—
Silvercorp Metals Inc. · SVM
—
—
—
—
-13%
-177%
88%
-67%
-7.1%
—
-6.7%
300%
115%
53%
121%
-150%
-14%
-122%
-110%
—
04 · compare level, then change
Capacity Spending & Returns On It
First Majestic Silver Corp. has the highest CAPEX among the 8 Silver companies compared here, at $47 million. Endeavour Silver Corp. is next at $38 million. Endeavour Silver Corp. has the highest CAPEX intensity at 18.1%, so level and change sit with different companies. 8 of 8 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: First Majestic Silver Corp. reports $47 million of CAPEX; Endeavour Silver Corp. has the highest covered intensity at 18.1%. Coverage is only 8 of 8 companies and 111 reported observations, so this is partial evidence—not a complete sector rank.
LeaderFirst Majestic Silver Corp. · $47 million
Gap23.7% versus #2 · Endeavour Silver Corp.
Persistence8/8 recent comparable periods
Coverage8/8 companies · 111 observations
Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.
This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.
CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.
CAPEXlargest spenders
1First Majestic Silver Corp. AG$47M
2Endeavour Silver Corp. EXK$38M
3Aya Gold & Silver Inc. AYA$3M
4Silvercorp Metals Inc. SVM$3M
5Sunshine Silver Mining & Refining Company SSMR$2M
CAPEX intensityhighest reinvestment intensity
1Endeavour Silver Corp. EXK18%
2First Majestic Silver Corp. AG9.9%
3Aya Gold & Silver Inc. AYA2.6%
4Silvercorp Metals Inc. SVM2.0%
5Highlander Silver Corp. HSLV0.0%
Capital expenditure · company comparison
8/8 level · 5/8 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | CAPEX | CAPEX intensity | Reported |
|---|---|---|---|
| First Majestic Silver Corp. AG | $47M | 9.9% | Mar 2026 |
| Endeavour Silver Corp. EXK | $38M | 18% | Mar 2026 |
| Aya Gold & Silver Inc. AYA | $3M | 2.6% | Mar 2026 |
| Silvercorp Metals Inc. SVM | $3M | 2.0% | Mar 2026 |
| Sunshine Silver Mining & Refining Company SSMR | $2M | — | Mar 2026 |
| Sinda Ltd. SIND | $0M | — | Mar 2026 |
| Highlander Silver Corp. HSLV | $0M | 0.0% | Mar 2026 |
| New Pacific Metals Corp. NEWP | $0M | — | Mar 2026 |
Full 20-quarter history · every available company
CAPEX · reported quarter history
Aya Gold & Silver Inc. · AYA
$1M
$3M
$3M
$7M
$6M
$10M
$10M
$11M
$27M
$29M
—
$26M
$30M
$8M
—
$7M
$9M
$10M
—
$3M
Endeavour Silver Corp. · EXK
$8M
$23M
$15M
$13M
$15M
$53M
$28M
$21M
$24M
$32M
$41M
$45M
$56M
$49M
$46M
$42M
$54M
$35M
$39M
$38M
First Majestic Silver Corp. · AG
$41M
$46M
$58M
$38M
$67M
$56M
$55M
$49M
$37M
$34M
$26M
$31M
$27M
$33M
$25M
$56M
$50M
$57M
$47M
$47M
Highlander Silver Corp. · HSLV
—
—
$0M
$0M
$0M
$0M
—
—
—
—
—
$0M
$0M
$0M
—
$0M
$0M
$0M
—
$0M
New Pacific Metals Corp. · NEWP
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
—
$0M
$0M
Silvercorp Metals Inc. · SVM
$1M
$3M
$3M
$4M
$2M
$5M
$4M
$2M
$3M
$3M
$2M
$3M
$4M
$6M
$7M
$3M
$3M
$2M
$5M
$3M
Sinda Ltd. · SIND
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
$0M
—
—
—
$0M
Sunshine Silver Mining & Refining Company · SSMR
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
$0M
—
—
—
$2M
CAPEX intensity · reported quarter history
Aya Gold & Silver Inc. · AYA
10%
38%
38%
78%
67%
143%
77%
110%
270%
242%
—
520%
214%
73%
—
21%
23%
19%
—
2.6%
Endeavour Silver Corp. · EXK
17%
66%
31%
22%
48%
133%
34%
38%
48%
65%
82%
70%
97%
93%
110%
66%
61%
25%
23%
18%
First Majestic Silver Corp. · AG
27%
37%
28%
24%
42%
35%
37%
31%
25%
26%
19%
29%
20%
23%
15%
23%
19%
20%
10%
9.9%
Highlander Silver Corp. · HSLV
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
0.0%
Silvercorp Metals Inc. · SVM
1.7%
5.2%
5.1%
9.5%
3.1%
9.6%
6.8%
5.9%
5.0%
5.6%
3.4%
7.0%
5.6%
8.8%
8.3%
4.0%
3.7%
2.4%
4.0%
2.0%
Annual capital allocation · 7-year view
8/8 capacity base · 8/8 OCF · 8/8 CAPEX · 8/8 FCF
Capacity base is net fixed assets plus capital work in progress, straight off the reported balance sheet. It is not cash spent, so it answers a narrower question than CAPEX — but it is reported for companies whose cash-flow CAPEX is not published, which is why it leads here. Missing years remain blank; annual values are never relabelled as quarters.
Full annual capacity base, operating cash flow, CAPEX and free cash flow history
Capacity base · net fixed assets + CWIP · fiscal-year history
Aya Gold & Silver Inc. · AYA
—
—
$38M
$60M
$162M
$231M
$252M
Endeavour Silver Corp. · EXK
—
—
$123M
$235M
$315M
$506M
$786M
First Majestic Silver Corp. · AG
—
—
$1.5B
$1.5B
$1.4B
$1.4B
$3.3B
Highlander Silver Corp. · HSLV
—
—
$0M
$0M
$0M
—
$0M
New Pacific Metals Corp. · NEWP
—
$77M
$87M
$110M
$115M
$118M
—
Silvercorp Metals Inc. · SVM
—
—
$406M
$383M
$399M
$681M
$889M
Sinda Ltd. · SIND
—
—
—
—
—
$10M
$10M
Sunshine Silver Mining & Refining Company · SSMR
—
—
—
—
—
$24M
$34M
Operating cash flow · fiscal-year history
Aya Gold & Silver Inc. · AYA
—
—
$18M
$10M
$3M
$-9M
$72M
Endeavour Silver Corp. · EXK
—
—
$23M
$55M
$12M
$19M
$67M
First Majestic Silver Corp. · AG
—
—
$69M
$19M
$56M
$152M
$526M
Highlander Silver Corp. · HSLV
$0M
$0M
—
$0M
$-1M
—
—
New Pacific Metals Corp. · NEWP
—
$-5M
$-5M
$-6M
$-4M
$-3M
—
Silvercorp Metals Inc. · SVM
—
—
$107M
$86M
$92M
$139M
$311M
Sinda Ltd. · SIND
—
—
—
—
—
$-8M
$-13M
Sunshine Silver Mining & Refining Company · SSMR
—
—
—
—
—
$-8M
$-24M
CAPEX · reported cash flow · fiscal-year history
Aya Gold & Silver Inc. · AYA
—
—
$8M
$34M
$79M
$63M
$33M
Endeavour Silver Corp. · EXK
—
—
$54M
$110M
$118M
$195M
$169M
First Majestic Silver Corp. · AG
—
—
$189M
$218M
$146M
$115M
$211M
Highlander Silver Corp. · HSLV
—
—
—
$0M
—
—
—
New Pacific Metals Corp. · NEWP
—
$0M
$1M
$0M
$0M
$0M
—
Silvercorp Metals Inc. · SVM
—
—
$11M
$13M
$12M
$20M
$13M
Sinda Ltd. · SIND
—
—
—
—
—
$0M
$0M
Sunshine Silver Mining & Refining Company · SSMR
—
—
—
—
—
$1M
$10M
Free cash flow · fiscal-year history
Aya Gold & Silver Inc. · AYA
—
—
$10M
$-24M
$-76M
$-71M
$39M
Endeavour Silver Corp. · EXK
—
—
$-31M
$-55M
$-106M
$-176M
$-102M
First Majestic Silver Corp. · AG
—
—
$-120M
$-199M
$-90M
$37M
$315M
Highlander Silver Corp. · HSLV
$0M
$0M
—
$0M
$-1M
—
—
New Pacific Metals Corp. · NEWP
—
$-5M
$-5M
$-6M
$-4M
$-3M
—
Silvercorp Metals Inc. · SVM
—
—
$97M
$72M
$80M
$119M
$298M
Sinda Ltd. · SIND
—
—
—
—
—
$-8M
$-13M
Sunshine Silver Mining & Refining Company · SSMR
—
—
—
—
—
$-9M
$-34M
05 · compare level, then change
Debt Load & Balance-Sheet Headroom
Sunshine Silver Mining & Refining Company has the lowest Gross debt among the 8 Silver companies compared here, at $0 million. Highlander Silver Corp. is next at $1 million. First Majestic Silver Corp. has the lowest Net debt at $671 million net cash, so level and change sit with different companies.
What the numbers say: First Majestic Silver Corp. has the clearest covered balance-sheet capacity with $671 million net cash and gross debt of $314 million. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.
LeaderSunshine Silver Mining & Refining Company · $0 million
Gap100% versus #2 · Highlander Silver Corp.
Persistence3/5 recent comparable periods
Coverage7/8 companies · 107 observations
Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.
This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.
Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.
Gross debtlowest gross debt
1Sunshine Silver Mining & Refining Company SSMR$0M
2Highlander Silver Corp. HSLV$1M
3Sinda Ltd. SIND$1M
4Aya Gold & Silver Inc. AYA$100M
5Silvercorp Metals Inc. SVM$118M
Net debtlowest net debt
1First Majestic Silver Corp. AG$-671M
2Silvercorp Metals Inc. SVM$-304M
3Highlander Silver Corp. HSLV$-142M
4Aya Gold & Silver Inc. AYA$-72M
5Sunshine Silver Mining & Refining Company SSMR$-19M
Debt and balance-sheet capacity · company comparison
7/8 level · 7/8 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Gross debt | Net debt | Reported |
|---|---|---|---|
| First Majestic Silver Corp. AG | $314M | $-671M | Mar 2026 |
| Endeavour Silver Corp. EXK | $248M | $7M | Mar 2026 |
| Silvercorp Metals Inc. SVM | $118M | $-304M | Mar 2026 |
| Aya Gold & Silver Inc. AYA | $100M | $-72M | Mar 2026 |
| Sinda Ltd. SIND | $1M | $-17M | Mar 2026 |
| Highlander Silver Corp. HSLV | $1M | $-142M | Mar 2026 |
| Sunshine Silver Mining & Refining Company SSMR | $0M | $-19M | Mar 2026 |
Full 20-quarter history · every available company
Gross debt · reported quarter history
Aya Gold & Silver Inc. · AYA
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$1M
$1M
$34M
$59M
$83M
$98M
$98M
$97M
$97M
$98M
$113M
$114M
$100M
Endeavour Silver Corp. · EXK
$9M
$8M
$11M
$13M
$14M
$15M
$16M
$14M
$13M
$11M
$9M
$7M
$63M
$85M
$120M
$122M
$162M
$159M
$244M
$248M
First Majestic Silver Corp. · AG
$193M
$224M
$221M
$222M
$226M
$257M
$248M
$255M
$255M
$255M
$257M
$256M
$256M
$234M
$237M
$235M
$235M
$237M
$309M
$314M
Highlander Silver Corp. · HSLV
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$1M
Silvercorp Metals Inc. · SVM
$2M
$1M
$1M
$1M
$1M
$1M
$1M
$1M
$1M
$0M
$0M
$1M
$1M
$1M
$109M
$112M
$112M
$115M
$115M
$118M
Sinda Ltd. · SIND
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
$8M
—
—
—
$1M
Sunshine Silver Mining & Refining Company · SSMR
—
—
—
—
—
—
—
—
—
—
—
—
—
$39M
$39M
—
—
$1M
$1M
$0M
Net debt · reported quarter history
Aya Gold & Silver Inc. · AYA
$-34M
$-85M
$-82M
$-74M
$-65M
$-56M
$-39M
$-87M
$-49M
$-17M
$9M
$-8M
$13M
$43M
$66M
$79M
$-16M
$-16M
$-22M
$-72M
Endeavour Silver Corp. · EXK
$-126M
$-100M
$-104M
$-152M
$-111M
$-62M
$-76M
$-61M
$-39M
$-36M
$-31M
$-30M
$-6M
$29M
$12M
$56M
$109M
$101M
$28M
$7M
First Majestic Silver Corp. · AG
$-34M
$31M
$-17M
$29M
$108M
$108M
$97M
$150M
$95M
$117M
$131M
$154M
$104M
$79M
$35M
$-116M
$-150M
$-198M
$-484M
$-671M
Highlander Silver Corp. · HSLV
$-2M
$-4M
$-3M
$-3M
$-2M
$-2M
$-1M
$-1M
$0M
$0M
$-2M
$-2M
$-3M
$-3M
$-2M
$-30M
$-24M
$-102M
$-108M
$-142M
Silvercorp Metals Inc. · SVM
$-212M
$-220M
$-211M
$-212M
$-215M
$-200M
$-209M
$-202M
$-200M
$-189M
$-198M
$-184M
$-215M
$-209M
$-246M
$-257M
$-265M
$-267M
$-348M
$-304M
Sinda Ltd. · SIND
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
$7M
—
—
—
$-17M
Sunshine Silver Mining & Refining Company · SSMR
—
—
—
—
—
—
—
—
—
—
—
—
—
$37M
$37M
—
—
$-30M
$-30M
$-19M
06 · compare level, then change
Return On Capital Employed
Aya Gold & Silver Inc. has the highest ROCE among the 8 Silver companies compared here, at 17.4%. Endeavour Silver Corp. is next at 10.3%. The same company also holds the highest ROCE change, at +16.5 percentage points. 8 of 8 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Aya Gold & Silver Inc. leads ROCE at 17.4%, 7.1 percentage points above Endeavour Silver Corp.. Aya Gold & Silver Inc. has the strongest latest improvement at +16.5 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.
LeaderAya Gold & Silver Inc. · 17.4%
Gap68.9% versus #2 · Endeavour Silver Corp.
Persistence6/8 recent comparable periods
Coverage8/8 companies · 120 observations
Investor read: Aya Gold & Silver Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current roce change signal.
ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1Aya Gold & Silver Inc. AYA17%
2Endeavour Silver Corp. EXK10%
3First Majestic Silver Corp. AG5.8%
4Highlander Silver Corp. HSLV3.5%
5Silvercorp Metals Inc. SVM3.1%
ROCE changefastest improvers
1Aya Gold & Silver Inc. AYA+16.5 pp
2Endeavour Silver Corp. EXK+9.5 pp
3Sinda Ltd. SIND+6.0 pp
4First Majestic Silver Corp. AG+4.6 pp
5Silvercorp Metals Inc. SVM+2.8 pp
Return on capital · company comparison
8/8 level · 8/8 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | ROCE | ROCE change | Reported |
|---|---|---|---|
| Aya Gold & Silver Inc. AYA | 17% | +16.5 pp | Mar 2026 |
| Endeavour Silver Corp. EXK | 10% | +9.5 pp | Mar 2026 |
| First Majestic Silver Corp. AG | 5.8% | +4.6 pp | Mar 2026 |
| Highlander Silver Corp. HSLV | 3.5% | −6.0 pp | Mar 2026 |
| Silvercorp Metals Inc. SVM | 3.1% | +2.8 pp | Mar 2026 |
| New Pacific Metals Corp. NEWP | -1.1% | −0.1 pp | Mar 2026 |
| Sunshine Silver Mining & Refining Company SSMR | -52% | 0.0 pp | Mar 2026 |
| Sinda Ltd. SIND | -52% | — | Mar 2026 |
Full 20-quarter history · every available company
ROCE · reported quarter history
Aya Gold & Silver Inc. · AYA
—
1.0%
0.4%
0.2%
0.4%
-1.0%
2.1%
0.0%
0.0%
1.9%
0.7%
-1.0%
0.6%
-1.0%
-11%
0.9%
1.7%
3.5%
8.5%
17%
Endeavour Silver Corp. · EXK
—
1.5%
1.9%
4.7%
-0.5%
-0.4%
4.5%
2.1%
1.6%
-1.1%
0.0%
0.8%
0.4%
0.8%
-0.1%
0.8%
-0.7%
0.3%
4.3%
10%
First Majestic Silver Corp. · AG
—
-0.7%
1.8%
-0.2%
0.2%
-0.8%
-1.3%
-7.6%
-1.0%
-1.0%
0.1%
-1.0%
-0.8%
0.2%
1.4%
1.2%
1.4%
2.7%
8.0%
5.8%
Highlander Silver Corp. · HSLV
—
0.0%
-10%
-2.0%
-3.1%
-11%
-2.8%
-4.2%
-2.3%
151%
-8.3%
-28%
-4.6%
-18%
-11%
9.5%
-23%
-7.0%
0.0%
3.5%
New Pacific Metals Corp. · NEWP
—
-1.3%
-1.1%
-1.2%
-1.9%
-1.7%
-1.6%
-2.0%
-1.6%
-1.5%
-1.4%
-1.4%
-1.2%
-1.2%
-1.2%
-1.0%
-1.0%
-1.0%
-1.0%
-1.1%
Silvercorp Metals Inc. · SVM
—
2.8%
3.0%
0.9%
3.0%
-1.2%
2.6%
0.7%
2.8%
2.8%
2.7%
1.7%
5.2%
3.6%
4.6%
0.3%
3.5%
0.4%
1.0%
3.1%
Sinda Ltd. · SIND
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
-52%
Sunshine Silver Mining & Refining Company · SSMR
—
—
—
—
—
—
—
—
—
—
—
—
—
0.0%
0.0%
—
—
0.0%
0.0%
-52%
ROCE change · reported quarter history
Aya Gold & Silver Inc. · AYA
—
—
—
—
—
−2.0 pp
+1.7 pp
−0.2 pp
−0.4 pp
+2.9 pp
−1.4 pp
−1.0 pp
+0.6 pp
−2.9 pp
−11.6 pp
+1.9 pp
+1.1 pp
+4.5 pp
+19.4 pp
+16.5 pp
Endeavour Silver Corp. · EXK
—
—
—
—
—
−1.9 pp
+2.6 pp
−2.6 pp
+2.1 pp
−0.7 pp
−4.5 pp
−1.3 pp
−1.2 pp
+1.9 pp
−0.1 pp
0.0 pp
−1.1 pp
−0.5 pp
+4.4 pp
+9.5 pp
First Majestic Silver Corp. · AG
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—
—
—
—
−0.1 pp
−3.1 pp
−7.4 pp
−1.2 pp
−0.2 pp
+1.4 pp
+6.6 pp
+0.2 pp
+1.2 pp
+1.3 pp
+2.2 pp
+2.2 pp
+2.5 pp
+6.6 pp
+4.6 pp
Highlander Silver Corp. · HSLV
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—
—
—
—
−10.6 pp
+7.2 pp
−2.2 pp
+0.8 pp
+161.1 pp
−5.5 pp
−24.2 pp
−2.3 pp
−168.8 pp
−2.4 pp
+37.9 pp
−18.2 pp
+11.3 pp
+10.7 pp
−6.0 pp
New Pacific Metals Corp. · NEWP
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—
—
—
—
−0.4 pp
−0.5 pp
−0.8 pp
+0.3 pp
+0.2 pp
+0.2 pp
+0.6 pp
+0.4 pp
+0.3 pp
+0.2 pp
+0.4 pp
+0.2 pp
+0.2 pp
+0.2 pp
−0.1 pp
Silvercorp Metals Inc. · SVM
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—
—
—
—
−4.0 pp
−0.4 pp
−0.2 pp
−0.2 pp
+4.0 pp
+0.1 pp
+1.0 pp
+2.4 pp
+0.8 pp
+1.9 pp
−1.4 pp
−1.7 pp
−3.2 pp
−3.6 pp
+2.8 pp
Sunshine Silver Mining & Refining Company · SSMR
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—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
0.0 pp
0.0 pp
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07 · compare level, then change
Valuation Against Growth & Quality
Silvercorp Metals Inc. has the lowest Guarded PEG among the 8 Silver companies compared here, at 0.71×. Aya Gold & Silver Inc. has the lowest P/E at 25.5×, so level and change sit with different companies. 1 of 8 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Silvercorp Metals Inc. has the lowest comparable Guarded PEG at 0.71×. Only 1 of 8 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.
LeaderSilvercorp Metals Inc. · 0.71×
GapNot enough peers
Persistence0/8 recent comparable periods
Coverage1/8 companies · 1 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/e signal.
PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.
Guarded PEGlowest PEG
1Silvercorp Metals Inc. SVM0.7
P/Elowest P/E
1Aya Gold & Silver Inc. AYA25.5
2First Majestic Silver Corp. AG35.8
3Silvercorp Metals Inc. SVM51.7
4Endeavour Silver Corp. EXK65.7
Valuation · company comparison
1/8 level · 4/8 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Guarded PEG | P/E | Reported |
|---|---|---|---|
| Silvercorp Metals Inc. SVM | 0.7 | 51.7 | Mar 2026 |
| First Majestic Silver Corp. AG | — | 35.8 | Mar 2026 |
| Aya Gold & Silver Inc. AYA | — | 25.5 | Mar 2026 |
| Endeavour Silver Corp. EXK | — | 65.7 | Mar 2026 |
Full 20-quarter history · every available company
Guarded PEG · reported quarter history
Silvercorp Metals Inc. · SVM
—
—
—
—
—
—
—
—
—
—
0.7
—
—
—
—
—
—
—
—
—
P/E · reported quarter history
Aya Gold & Silver Inc. · AYA
—
175.4
630.0
—
—
—
665.0
160.8
160.3
134.0
183.0
430.5
141.7
216.8
—
—
—
—
44.7
25.5
Endeavour Silver Corp. · EXK
—
18.6
52.8
66.4
—
—
108.0
—
57.8
48.6
65.7
—
—
—
—
—
—
—
—
—
First Majestic Silver Corp. · AG
—
70.7
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
87.7
49.1
35.8
Silvercorp Metals Inc. · SVM
—
18.1
19.7
21.5
15.5
23.4
20.9
31.7
25.9
12.9
15.3
16.3
12.4
14.5
8.4
13.8
16.2
51.7
—
—
08 · compare level, then change
Enterprise Value & Book Value
First Majestic Silver Corp. has the lowest EV/EBITDA among the 8 Silver companies compared here, at 12.1×. Endeavour Silver Corp. is next at 13.1×. Highlander Silver Corp. has the lowest P/BV at 2.09×, so level and change sit with different companies. 4 of 8 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: First Majestic Silver Corp. leads ev/ebitda at 12.1×; Highlander Silver Corp. leads p/bv at 2.09×.
LeaderFirst Majestic Silver Corp. · 12.1×
Gap7.6% versus #2 · Endeavour Silver Corp.
Persistence0/8 recent comparable periods
Coverage4/8 companies · 68 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.
EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.
EV/EBITDAlowest EV/EBITDA
1First Majestic Silver Corp. AG12.1
2Endeavour Silver Corp. EXK13.1
3Aya Gold & Silver Inc. AYA14.5
4Silvercorp Metals Inc. SVM18.8
P/BVlowest P/BV
1Highlander Silver Corp. HSLV2.1
2Silvercorp Metals Inc. SVM2.5
3First Majestic Silver Corp. AG3.7
4Endeavour Silver Corp. EXK4.1
5New Pacific Metals Corp. NEWP4.6
Enterprise and book valuation · company comparison
4/8 level · 6/8 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | EV/EBITDA | P/BV | Reported |
|---|---|---|---|
| Silvercorp Metals Inc. SVM | 18.8 | 2.5 | Mar 2026 |
| Aya Gold & Silver Inc. AYA | 14.5 | 4.8 | Mar 2026 |
| Endeavour Silver Corp. EXK | 13.1 | 4.1 | Mar 2026 |
| First Majestic Silver Corp. AG | 12.1 | 3.7 | Mar 2026 |
| Highlander Silver Corp. HSLV | — | 2.1 | Mar 2026 |
| New Pacific Metals Corp. NEWP | — | 4.6 | Mar 2026 |
Full 20-quarter history · every available company
EV/EBITDA · reported quarter history
Aya Gold & Silver Inc. · AYA
—
45.8
63.4
209.4
192.4
486.2
66.4
128.3
91.2
49.2
63.3
236.8
304.1
—
—
—
—
1,158.0
21.7
14.5
Endeavour Silver Corp. · EXK
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10.0
13.2
15.7
11.6
14.2
10.9
15.5
9.6
8.3
10.6
15.1
24.8
24.6
24.7
29.0
34.7
43.7
25.6
13.1
First Majestic Silver Corp. · AG
—
20.8
17.2
21.0
12.7
13.3
24.1
—
—
—
—
28.9
27.7
20.2
13.9
16.6
13.9
15.3
12.3
12.1
Silvercorp Metals Inc. · SVM
—
6.5
6.4
6.1
3.7
4.5
6.2
8.9
6.3
3.6
4.2
5.2
4.3
7.2
3.8
5.3
5.9
11.1
19.7
18.8
P/BV · reported quarter history
Aya Gold & Silver Inc. · AYA
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4.9
6.0
5.6
4.1
4.9
5.6
4.9
3.7
3.1
4.1
4.2
4.7
6.0
4.0
3.9
3.3
4.1
4.9
4.8
Endeavour Silver Corp. · EXK
—
2.9
3.0
2.9
2.0
1.9
2.0
2.3
1.7
1.4
1.1
1.4
2.0
2.4
2.0
2.5
2.4
4.5
4.8
4.1
First Majestic Silver Corp. · AG
—
2.1
2.1
2.4
1.4
1.5
1.6
1.5
1.2
1.1
1.3
1.3
1.3
1.3
1.2
1.3
1.6
2.3
3.0
3.7
Highlander Silver Corp. · HSLV
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—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
2.1
New Pacific Metals Corp. · NEWP
—
4.1
3.7
4.0
3.7
2.8
3.0
3.6
3.0
2.2
2.4
1.7
1.9
1.9
1.5
1.4
1.7
3.5
4.0
4.6
Silvercorp Metals Inc. · SVM
—
1.4
1.3
1.3
0.9
0.9
1.1
1.4
1.0
0.8
0.9
1.1
1.1
1.3
0.9
1.2
1.3
1.9
2.6
2.5
09 · let price answer last
Market action
New Pacific Metals Corp. has the strongest one-year price move in Silver at +216.8%. Aya Gold & Silver Inc. leads on Mansfield relative strength against the S&P 500 at +19.8%. 2 of 6 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.
Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.
Price and relative strength
Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.
Before the conclusion · check the blind spots
What can make this comparison misleading?
This Silver comparison names 5 specific ways its own evidence can mislead, all listed below. All 8 companies here report on comparable dates, so no rank carries a stale marker. 1 of the 8 ranked sections has fewer than three usable current readings. A high growth rate can still be a low-base artefact.
Keep these limits visible
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- Thin comparisons: Valuation have fewer than three usable current readings.
10 · the complete set
Which companies are included?
All 8 companies in the canonical Silver membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.
AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.
| Company | Market value | Price | Priced to | Latest fundamentals |
|---|---|---|---|---|
| First Majestic Silver Corp. AG | $7.8B | $15.7 | 2026-07-28 | Mar 2026 |
| Aya Gold & Silver Inc. AYAAHEAD19/26 WEEKS | $2.8B | $19.4 | 2026-07-28 | Mar 2026 |
| Endeavour Silver Corp. EXK | $2.3B | $7.8 | 2026-07-28 | Mar 2026 |
| Silvercorp Metals Inc. SVM | $2.1B | $9.4 | 2026-07-28 | Mar 2026 |
| Sunshine Silver Mining & Refining Company SSMR | $2.0B | $15.0 | 2026-07-28 | Mar 2026 |
| Sinda Ltd. SIND | $1.9B | $12.6 | 2026-07-28 | Mar 2026 |
| Highlander Silver Corp. HSLV | $878M | $4.5 | 2026-07-28 | Mar 2026 |
| New Pacific Metals Corp. NEWP | $841M | $4.5 | 2026-07-28 | Mar 2026 |
Evidence and freshness
How was this comparison built?
This comparison is built from the reported filings of 8 Silver companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Mar 2026 and market data through 2026-07-28. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.
FundamentalsThrough Mar 2026 · up to 20 quarters per company
Market dataThrough 2026-07-28 · weekly price and relative-strength history
Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Questions investors ask · short, speakable answers
Silver company comparison FAQs
These 17 answers restate the Silver comparison above in question form. Every one is computed from the same 8 companies and the same reported filings as the rankings and charts, current through Mar 2026. Price and relative-strength answers run through 2026-07-28. Nothing here is estimated, and none of it is a recommendation.
Which Silver company is the biggest?
First Majestic Silver Corp. is the largest, with trailing-twelve-month revenue of $1,490 million, ahead of Endeavour Silver Corp. at $615 million. That covers 4 of 8 companies with comparable reporting through Mar 2026.
Which Silver company is growing fastest?
First Majestic Silver Corp. has the fastest revenue growth at 100% year on year, across 4 of 8 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.
Which Silver company has the best profit margins?
Aya Gold & Silver Inc. has the highest operating margin at 66.2%, from 5 of 8 comparable companies. Aya Gold & Silver Inc. shows the biggest recent improvement, at +56.4 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.
Which Silver company makes the most profit?
First Majestic Silver Corp. earns the most, at $352 million of trailing-twelve-month net profit, from 5 of 8 comparable companies.
Which Silver company earns the highest return on capital?
Aya Gold & Silver Inc. leads on return on capital employed at 17.4%, across 8 of 8 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.
Which Silver stock is the cheapest?
On guarded PEG — where a LOWER number is cheaper — Silvercorp Metals Inc. screens cheapest at 0.71×. Only 1 of 8 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.
Which Silver company has the strongest balance sheet?
Sunshine Silver Mining & Refining Company carries the lowest comparable gross debt at $0 million, from 7 of 8 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.
Which Silver company is investing most in new capacity?
First Majestic Silver Corp. reports the largest capital spending at $47 million, across 8 of 8 companies. Spending consumes cash before it earns anything, so treat the ranking as a diligence queue: check commissioning, utilisation and the return earned on the completed assets before reading spend as value creation.
Is the Silver sector beating the market?
Silver has outperformed S&P 500 by 94.8% over the last 52 weeks and 16.4% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 2 of 6 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.
Which Silver stock has the strongest price momentum?
Aya Gold & Silver Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.
Which Silver company scores highest for research priority?
Aya Gold & Silver Inc. scores 74.9 out of 100 with 64.7% evidence confidence, from 28.9 points on growth and earnings, 17.2 on capital efficiency, 10 on valuation and 18.8 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.
How many Silver companies does this comparison cover, and over what period?
It compares 8 listed companies over up to 20 reported quarters of fundamentals and 7 fiscal years of capital allocation, ending Mar 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.
What is the total market cap of the Silver sector?
The 8 Silver companies on this page carry $20,532 million of combined market value. First Majestic Silver Corp. is the largest at $7,755 million, about 38% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.
How is the Silver sector performing?
2 of the 6 covered Silver companies are beating S&P 500 on Mansfield relative strength. The sector itself is 94.8% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.
How many Silver stocks are listed in the US?
This comparison covers 8 listed Silver companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Mar 2026. Membership is the full industry list — nothing is dropped for having thin data.
Why are some values on this page blank?
A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.
Is this investment advice?
No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.