Filing Flows › First Majestic Silver (AG) › Q2 2025 › vs Q2 2024
First Majestic Silver (AG) Q2 2025 vs Q2 2024 (year over year)
First Majestic Silver's revenue rose $128M (+94%) from $136M in Q2 2024 to $264M in Q2 2025. The biggest changes: Silver +$88.6M (+160%); Zinc +$21.0M (—); Lead +$10.7M (—). Operating margin 21.4% against -35.4% (+56.8 pts).
First Majestic Silver, Q2 2025: revenue $264M (+94% year over year), operating margin 21.4%, net earnings $52.5M. The chart draws each line against Q2 2024, the increases inside each band.
Margins
| Q2 2025 | Q2 2024 | Change | |
|---|---|---|---|
| Operating margin | 21.4% | -35.4% | +56.8 pts |
| Net margin | 19.9% | -35.4% | +55.3 pts |
Every line
| Line | Q2 2025 | Q2 2024 | Change | % |
|---|---|---|---|---|
| Silver | $144M | $55.3M | $88.6M | +160% |
| Gold | $88.8M | $81.5M | $7.4M | +9% |
| Zinc | $21.0M | $0 | $21.0M | — |
| Lead | $10.7M | $0 | $10.7M | — |
| Copper | $320K | $0 | $320K | — |
| Revenue | $264M | $136M | $128M | +94% |
| Operating profit | $56.6M | −$48.3M | $105M | — |
| Costs & expenses | $208M | $184M | $23.2M | +13% |
| Pre-tax earnings | $56.6M | −$48.3M | $105M | — |
| Cost of revenue | $141M | $89.1M | $52.0M | +58% |
| General & admin | $12.5M | $9.5M | $3.0M | +32% |
| Other operating costs | $54.0M | $85.8M | −$31.8M | -37% |
| Net earnings | $52.5M | −$48.3M | $101M | — |
| Minority interests | $4.0M | $0 | $4.0M | — |
Questions
How much did First Majestic Silver's revenue grow year over year in Q2 2025?
First Majestic Silver's revenue rose $128M (+94%) from $136M in Q2 2024 to $264M in Q2 2025.
What drove First Majestic Silver's revenue change in Q2 2025?
Silver +$88.6M (+160%); Zinc +$21.0M (—); Lead +$10.7M (—).