Silvercorp Metals Inc. (SVM) 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

-95.8%

$0.35

vs $8.24 price

Levered DCF

$8.92

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

4.09

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

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

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	-214.8×	13.34×	16.43×	34.73×	21.29×	17.54×	17.21×	10.46×
P/B	2.5×	1.12×	1.2×	1.38×	1.25×	1.84×	1.52×	1.22×
P/S	5.38×	2.64×	2.84×	3.25×	2.93×	4.47×	3.54×	2.48×
EV / EBITDA	15.69×	3.77×	4.64×	8.19×	6.24×	7.64×	6.43×	3.86×
Gross margin	57.9%	41.3%	37.5%	34.0%	38.7%	43.8%	37.4%	35.8%
Operating margin	51.9%	34.5%	29.7%	16.2%	28.7%	37.3%	32.8%	41.1%
Net margin	-2.3%	19.5%	16.9%	9.9%	14.1%	24.1%	21.6%	23.3%
Current ratio	3.58×	5.05×	4.28×	5.31×	5.05×	5.95×	5.68×	3.56×
Debt / equity	0.13×	0.16×	0×	0×	0×	0×	0.01×	0.01×
Interest coverage	16.79×	16.24×	300.1×	119.67×	183.48×	207.29×	90.09×	111.05×
Dividend yield	0.2%	0.6%	0.7%	0.7%	0.7%	0.5%	0.8%	1.0%
Payout ratio	-55.1%	8.5%	12.2%	21.5%	14.4%	9.9%	12.5%	10.6%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-1.1%	8.3%	7.2%	4.2%	6.0%	9.9%	9.3%	11.4%
Return on invested capital	6.9%	7.3%	6.9%	3.2%	7.0%	9.6%	9.0%	10.7%
Return on assets	-0.7%	5.1%	5.2%	3.0%	4.2%	7.1%	6.7%	8.0%
Free cash flow yield	7.7%	6.7%	4.6%	4.5%	6.3%	3.9%	7.5%	7.9%
Earnings yield	-0.4%	7.4%	5.9%	3.1%	4.8%	5.4%	6.1%	9.4%
Enterprise value	$2.1B	$537.5M	$459M	$530.5M	$527M	$741.6M	$497.8M	$359.9M
Net debt / EBITDA	-2.32×	-1.77×	-1.53×	-2.24×	-1.33×	-1.21×	-0.82×	-0.67×
Cash conversion cycle (days)	-147	-113	-88	-71	-75	-55	-45	-53