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Silvercorp Metals

SVM
46
Silver · Basic Materials
Price
$8.92
+0.10 (+1.13%)
Market Cap
$1.97B
Exchange
New York Stock Exchange American
Winston Score
46
Winston is serious
Mixed quality — meaningful strengths and weaknesses.

Share count rising — dilution

+23.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 178.3M (2022) → 219.4M (2026)

Silvercorp Metals is a mining company that digs silver, lead, and zinc out of the ground in China. It sells these metals to industrial buyers and smelters who use them to make things like batteries, electronics, and construction materials. Silvercorp is one of the few North American-listed silver mining companies that operates entirely in China.

The company makes money by selling the metals it mines, so its revenue rises and falls with commodity prices. Nearly all of its operations are in China's Henan and Guangdong provinces, and its low production costs give it a cost advantage over many peers — reflected in its unusually high gross margin above 57%. The biggest risk the company faces is that it operates in a single country with a different regulatory and political environment, which adds uncertainty that purely domestic miners do not carry.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+93.5% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+90.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

4.3%ownership

Relatively low insider ownership

Cash Runway

~5 years

$531M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

$531M cash & investments at current burn rate

Revenue accelerating

Silvercorp Metals grew revenue 93% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin
67.0%
Premium pricing power — 67.0% gross margin
Operating Margin
64.3%
Excellent — 64.3% operating margin
ROCE
8.8%
Below par — 8.8% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY
+56.3%
Fast-growing sales (56.3% YoY)
EPS YoY
-150.8%
Earnings shrinking (-150.8% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency
0/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion
N/A
Data not available
FCF Margin
8.4%
Modest free cash flow (8.4%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity
0.12
Conservative — low debt load (0.12)
Interest Cover
16.30x
Comfortably covers interest (16.3x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend Yield
0.24%
Small dividend — 0.24% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth
-1.0%
Dividend cut (-1.0% YoY) — warning sign

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