Hudbay Minerals Inc. (HBM.TO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-80.1%

CA$6.06

vs CA$30.36 price

Levered DCF

CA$7.64

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.08

Safe zone

Rating

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	13.59×	40.51×	26.17×	18.69×	-7.79×	-12.71×	-3.14×	14.35×
P/B	2.43×	1.2×	0.81×	0.84×	1.28×	1.07×	0.58×	0.57×
P/S	3.57×	1.51×	1.01×	0.9×	1.26×	1.67×	0.87×	0.84×
EV / EBITDA	8.32×	4.76×	4.36×	4.66×	12.43×	9.68×	-52.43×	3.1×
Gross margin	29.1%	27.4%	46.4%	18.9%	8.7%	3.6%	12.2%	25.4%
Operating margin	25.5%	19.8%	17.6%	14.7%	1.2%	-3.4%	-23.3%	20.3%
Net margin	26.3%	3.8%	3.9%	4.8%	-16.3%	-13.2%	-27.8%	5.8%
Current ratio	0.95×	1.95×	1.25×	1.17×	1.29×	1.68×	1.69×	2.36×
Debt / equity	0.33×	0.47×	0.66×	0.79×	0.85×	0.71×	0.58×	0.48×
Interest coverage	7.49×	3.95×	2.55×	3.17×	0.24×	-0.43×	-3.97×	4.31×
Dividend yield	0.1%	0.2%	0.3%	0.3%	0.2%	0.2%	0.4%	0.3%
Payout ratio	1.0%	7.2%	6.7%	5.8%	-1.7%	-2.6%	-1.1%	4.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	17.9%	3.0%	3.2%	4.5%	-16.5%	-8.5%	-18.6%	3.9%
Return on invested capital	6.3%	2.2%	2.8%	4.0%	0.4%	-0.7%	-5.4%	3.4%
Return on assets	9.3%	1.4%	1.2%	1.6%	-5.3%	-3.1%	-7.7%	1.8%
Free cash flow yield	2.5%	10.4%	11.5%	13.5%	0.3%	-6.7%	4.8%	23.3%
Earnings yield	7.4%	2.5%	3.9%	5.3%	-12.9%	-7.9%	-31.9%	6.9%
Enterprise value	CA$8.3B	CA$3.7B	CA$2.8B	CA$2.3B	CA$2.9B	CA$2.6B	CA$1.7B	CA$1.8B
Net debt / EBITDA	0.49×	0.84×	1.73×	2.03×	4.26×	2.84×	-20.11×	0.94×
Cash conversion cycle (days)	89	75	92	52	83	65	57	49