Hecla Mining Company (HL) 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

-80.8%

$2.66

vs $13.82 price

Levered DCF

$0.73

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

12.21

Safe zone

Rating

A-

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	39.16×	86.44×	-34.36×	-82.99×	81.06×	-203.77×	-16.95×	-38.5×
P/B	4.83×	1.49×	1.48×	1.57×	1.59×	1.99×	0.98×	0.6×
P/S	8.79×	3.28×	4.04×	4.31×	3.47×	4.94×	2.47×	1.8×
EV / EBITDA	18.28×	11.65×	27.98×	24.62×	14.21×	18.79×	15.28×	8.89×
Gross margin	43.7%	21.3%	15.7%	16.2%	27.0%	23.3%	5.0%	13.9%
Operating margin	37.7%	11.4%	-6.2%	-1.7%	10.3%	9.7%	-6.9%	-6.9%
Net margin	22.6%	3.8%	-11.7%	-5.2%	4.3%	-1.4%	-14.1%	-4.7%
Current ratio	2.72×	1.08×	1.65×	1.5×	2.13×	1.93×	1.53×	1.21×
Debt / equity	0.11×	0.27×	0.34×	0.27×	0.31×	0.31×	0.32×	0.32×
Interest coverage	12.91×	2.13×	-1.03×	-0.29×	1.99×	1.35×	-0.96×	-0.96×
Dividend yield	0.1%	0.8%	0.5%	0.4%	0.7%	0.3%	0.3%	0.5%
Payout ratio	3.2%	70.8%	-18.7%	-34.6%	58.9%	-96.8%	-5.8%	-18.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	12.4%	1.8%	-4.3%	-1.9%	2.0%	-0.6%	-5.6%	-1.6%
Return on invested capital	10.8%	2.0%	-1.6%	-0.4%	3.2%	2.6%	-1.5%	-1.2%
Return on assets	9.0%	1.2%	-2.8%	-1.3%	1.3%	-0.4%	-3.6%	-1.0%
Free cash flow yield	2.5%	0.1%	-5.1%	-1.9%	4.0%	2.6%	-0.0%	-4.2%
Earnings yield	2.6%	1.2%	-2.9%	-1.2%	1.3%	-0.3%	-5.7%	-2.6%
Enterprise value	$12.5B	$3.6B	$3.5B	$3.5B	$3.1B	$3.8B	$2.1B	$1.5B
Net debt / EBITDA	0.05×	1.71×	4.49×	2.95×	1.5×	1.99×	3.37×	2.99×
Cash conversion cycle (days)	54	27	24	32	20	40	26	24