PerpEquities

Hudbay Minerals Inc. (HBM) financials

NYSE · Basic Materials · Copper · 2,233 employees · CEO Peter Gerald Jan Kukielski

Price
$21.70 -7.11%
Market cap
$9.64B
Enterprise value
$9.61B
Last report
Q2 '26 filed 2026-07-29
Next report
2026-11-12
Revenue (TTM)$2.49B+13.0% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)30.8%+4.0 pp vs a year agoOperating income $766M
Net income (TTM)$675M+133.5% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$246M-31.9% vs a year agoCapex $541M
Diluted EPS (TTM)$1.69+130.3% vs a year agoSum of the last 4 quarters
Net cash$27.8M+105.4% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap
$9.64B
EV $9.61B
Revenue
$2.49B
Trailing 12 months
Revenue growth
+32%
FY2026 consensus
Profit margin
27.1%
Net income / revenue, TTM
P/E
12.8×
Forward 14.2× (FY2026)
P/S
3.9×
Price / sales, TTM
EV / EBITDA
5.8×
TTM
Free cash flow
$246M
Trailing 12 months
Net income
$675M
Trailing 12 months
Revenue estimate
$2.93B
FY2026 consensus
Earnings
2026-11-12
Dividend
$0.03
Per share, last 12 months

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

  • Revenue growth accelerating: 21.4% year on yearQ2 '26 revenue $651M, against an average of 12.5% over the four quarters before.
  • Operating margin 30.8% (TTM), +4.0 pp on a year agoOperating income grew 30.0% while revenue grew 13.0%.
  • 34.0% of pre-tax profit is non-operatingPre-tax income $1.16B vs operating income $766M (TTM). Gains on equity stakes and other one-off items lift net income and EPS - operating income is the cleaner measure of the business.
  • Capex 21.7% of revenue (a year ago 18.7%)$541M invested in the last 4 quarters (+31.7% on a year earlier). Free cash flow $246M = 36.5% of net income.
  • Returned $8.39M to shareholders = 3.4% of free cash flowBuybacks $0 (a year earlier $0), dividends $8.39M, stock-based pay $70.7M (TTM).
  • Diluted share count up 1.6% in a year402M diluted shares in Q2 '26, 396M a year earlier.
  • Net cash $27.8MCash + short-term investments $940M, debt incl. leases $912M; a year ago net debt $511M.

Last quarter: Q2 '26

Quarter ended 2026-06-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

Q2 '26Year agoChange
Revenue$651M$536M+21.4%
Gross margin41.0%32.9%+8.1 pp
Operating income$236M$152M+55.6%
Operating margin36.3%28.3%+8.0 pp
Net income$134M$118M+13.8%
Diluted EPS$0.33$0.30+10.0%
Operating cash flow$256M$260M-1.3%
Capex$149M$123M+21.6%
Free cash flow$108M$137M-21.8%
R&D$0$0–
Stock-based compensation$0$10.8M-100.0%

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement
Operating cash flow
$787M
Capex
-$541M
Buybacks
$0
Dividends
-$8.39M
Acquisitions
$424M
Net debt issued
-$293M
Stock-based compensation
$70.7M
Free cash flow
$246M
Returned to shareholders / FCF
3.4%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years
Now5y averageWhere today sits in the 5-year range
P/E (TTM)12.8×24.8× 4 of 5 years13.6× – 40.5×
EV / EBITDA5.8×6.0×4.4× – 10.5×
EV / Sales3.9×2.2×1.6× – 3.8×
Price / FCF39.1×24.6×7.4× – 57.6×
Price / Book1.8×1.3×0.8× – 2.4×
FCF yield2.6%7.9%1.7% – 13.5%
Return on invested capital6.0%3.5%0.4% – 6.3%
Return on equity18.4%2.3%-16.5% – 17.6%

Analysts

Consensus target $32.00 (+47.5%)
range $32.00 – $32.00 · rating Buy

Strong buy0
Buy12
Hold8
Sell0
Strong sell0

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal yearRevenueGrowthEPSGrowthP/E at today's priceAnalysts (EPS)
FY2026$2.93B+32.3%$1.53+4.6%14.2×10
FY2027$3.41B+16.5%$1.98+29.4%11.0×11
FY2028$3.51B+3.1%$2.03+2.5%10.7×9
FY2029$3.94B+12.2%$2.28+12.4%9.5×3
FY2030$3.96B+0.6%$2.08-8.6%10.4×3

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpenBalance sheetCash, investments, assets, debt, liabilities and equityOpenCash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings.

Data as of 2026-11-02