# Mineros S.A. (MSA.TO) fundamentals

Data as of 2026-11-04. TSX, Canada. Sector: Basic Materials / Mining & Metals. Price C$8.73, market value C$2.6 billion.

## Valuation
- **P/E (trailing): 9.4×** (5-yr avg 18.6×, 3-yr avg 8.3×). Mineros S.A. trades at 9.4× trailing earnings, well below its own five-year average of 18.6×: cheap by its own standards. The Basic Materials median in the September 2026 study was 19.0×. Forward P/E is 9.3×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.14**. A PEG of 0.14 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 2.6×**. Each dollar of revenue is priced at 2.6×.
- **Price / book: 3.0×**. The shares trade at 3.0× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 8.0×**. Enterprise value is 8.0× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Earnings yield: 10.7%**. The inverse of the P/E: 10.7% of the price is earned each year.

## Profitability
- **Gross margin: 41.9%**. Mineros S.A. keeps 41.9% of revenue after the direct cost of what it sells.
- **Operating margin: 33.1%**. 33.1% of revenue is left after running the business, an exceptional level.
- **Net margin: 18.1%**. 18.1% of each dollar of sales reaches the bottom line.
- **Return on equity: 28.2%**. 28.2% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on invested capital: 48.3%**. Return on all capital, debt included, is 48.3%: comfortably above what that capital costs.
- **Return on assets: 24.7%**. Each dollar of assets produces 24.7% of profit.

## Growth
- **Revenue growth (1 yr): 48.5%** (3-yr 24.4%/yr). Revenue grew 48.5% over the last year.
- **EPS growth (1 yr): 69.0%** (3-yr 265.9%/yr). Earnings per share rose 69.0%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 63.0%/yr**. Free cash flow has compounded at 63.0% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Debt to equity: 0.03**. Debt is 0.03 times equity: a conservative balance sheet.
- **Net debt / EBITDA: net cash**. Mineros S.A. holds more cash than debt.
- **Interest coverage: 38.4×**. Operating profit covers interest 38.4× over, a safe margin.
- **Current ratio: 1.72** (quick 1.45). Current assets cover the next year's liabilities 1.72 times.
- **Altman Z-score: 9.59**. A Z-score of 9.59 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 1.60%** (C$0.14 per share, trailing). Mineros S.A. yields 1.60%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 21%**. 21% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 2**. 2 straight years of increases.

## Price and momentum
- **Total return (1 yr): 75.0%** (YTD 53.2%, 3-mo 20.8%). The shares are up 75.0% over twelve months including dividends.
- **From 52-week high: -17.0%** (99.3% above the low). Trading 17% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 38**. An RSI of 38 is neutral.
- **Beta (1 yr): 2.55** (volatility 56%). Beta of 2.55 against the S&P/TSX Composite: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=MSA.TO · Page: https://foliofundamentals.com/stocks/msa.to

Not investment advice.