Hecla Mining Company (HL) financials

NYSE · Basic Materials · Other Precious Metals · 1,865 employees · CEO Robert L. Krcmarov

Price: $13.53 -6.37%
Market cap: $9.09B
Enterprise value: $8.62B
Last report: Q2 '26 filed 2026-08-04
Next report: 2026-11-03 EPS est. $0.14

Revenue (TTM)$1.6B+51.2% vs a year agoLast 4 quarters; bars = each quarter

Operating margin (TTM)46.8%+27.3 pp vs a year agoOperating income $750M

Net income (TTM)$334M+233.0% vs a year agoAfter tax, incl. non-operating gains

Free cash flow (TTM)$516M+586.2% vs a year agoCapex $219M

Diluted EPS (TTM)$0.49+621.6% vs a year agoSum of the last 4 quarters

Net cash$473M+276.2% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap: $9.09B
Revenue: $1.6B
Revenue growth: 0%
Profit margin: 20.8%
P/E: 27.1×
P/S: 5.7×
EV / EBITDA: 9.6×
Free cash flow: $516M
Net income: $334M
Revenue estimate: $1.42B
Earnings: 2026-11-03
Dividend: $0.02

Key takeaways

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

Last report (2026-08-04): revenue missed by 9.5%, EPS missed by 4.6%Revenue $334M vs $369M expected (-9.5%); EPS $0.17 vs $0.18 (-4.6%).
Revenue growth slowing: 9.8% year on yearQ2 '26 revenue $334M, against an average of 56.9% over the four quarters before.
Operating margin 46.8% (TTM), +27.3 pp on a year agoOperating income grew 262.9% while revenue grew 51.2%.
Capex 13.6% of revenue (a year ago 23.1%)$219M invested in the last 4 quarters (-10.7% on a year earlier). Free cash flow $516M = 154.4% of net income.
Returned $15.2M to shareholders = 2.9% of free cash flowBuybacks $4.53M (a year earlier -$312K), dividends $10.7M, stock-based pay $12.1M (TTM).
Diluted share count up 5.7% in a year676M diluted shares in Q2 '26, 640M a year earlier.
Net cash $473MCash + short-term investments $485M, debt incl. leases $12.7M; a year ago net debt $268M.

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 '26	Year ago	Change
Revenue	$334M	$304M	+9.8%
Gross margin	64.9%	39.3%	+25.6 pp
Operating income	$146M	$93.8M	+55.4%
Operating margin	43.6%	30.8%	+12.8 pp
Net income	$118M	$57.7M	+104.0%
Diluted EPS	$0.17	$0.09	+88.9%
Operating cash flow	$175M	$162M	+8.1%
Capex	$39.1M	$74.3M	-47.3%
Free cash flow	$136M	$87.5M	+55.2%
R&D	$0	$0	–
Stock-based compensation	$3.3M	$2.99M	+10.4%

Reported vs consensus

2026-08-04

	Actual	Consensus	vs consensus
Revenue	$334M	$369M	-9.5%
EPS (as estimated)	$0.17	$0.18	-4.6%

From the report of 2026-08-04 for Q2 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.

EPS vs consensus

last 8 reports

Revenue

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

Revenue, operating income and growth

quarterly

Revenue by business line

stacked, quarterly

Segment	Q2 '26	y/y	Share	TTM	TTM y/y
Silver Contracts	$214M	+74.2%	67.0%	–	–
Gold	$43.2M	-65.1%	13.6%	–	–
Zinc	$37.5M	+20.3%	11.8%	–	–
Lead	$24.4M	+13.4%	7.6%	–	–
Copper	$8K	-99.2%	0.0%	–	–

Segment profits

Operating income per reported segment, read from the segment note of each 10-Q / 10-K (the profit split most data feeds leave out).

Segments in Q2 '26

Segment	Revenue	y/y	Operating income	y/y	Margin	Margin a year ago	TTM operating income
Keno Hill	$2.2M	–	–	–	–	–	–
Greens Creek	–	–	–	–	–	–	–
Lucky Friday	–	–	–	–	–	–	–
Casa Berardi	–	–	–	–	–	–	–
All other segments	–	–	–	–	–	–	–

Operating income by segment

quarterly

Segment operating margin

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: $734M
Capex: -$219M
Buybacks: -$4.53M
Dividends: -$10.7M
Acquisitions: $173M
Net debt issued: -$559M
Stock-based compensation: $12.1M
Free cash flow: $516M
Returned to shareholders / FCF: 2.9%

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

	Now	5y average	Where today sits in the 5-year range
P/E (TTM)	27.1×	68.9× 3 of 5 years	39.2× – 86.4×
EV / EBITDA	9.6×	19.3×	11.7× – 28.0×
EV / Sales	5.4×	5.2×	3.8× – 8.8×
Price / FCF	17.6×	290.3× 3 of 5 years	25.2× – 805.4×
Price / Book	3.4×	2.2×	1.5× – 4.8×
FCF yield	5.7%	-0.1%	-5.1% – 4.0%
Return on invested capital	18.3%	2.8%	-1.6% – 10.8%
Return on equity	13.0%	2.0%	-4.3% – 12.4%

Analysts

Consensus target $23.25 (+71.8%)
range $21.00 – $26.75 · rating Hold

Strong buy0

Buy10

Hold13

Sell3

Strong sell0

Outlook

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

Consensus estimates

Fiscal year	Revenue	Growth	EPS	Growth	P/E at today's price	Analysts (EPS)
FY2026	$1.42B	-0.1%	$0.69	+40.7%	19.6×	4
FY2027	$1.49B	+4.8%	$0.95	+38.1%	14.2×	3
FY2028	$1.51B	+1.2%	$0.91	-4.0%	14.8×	1
FY2029	$1.53B	+1.5%	$0.74	-18.7%	18.2×	1
FY2030	$1.55B	+1.0%	$0.80	+8.1%	16.8×	1

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 EPSOpen Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Every reported line

All 316 figures Hecla Mining Company tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).

Line (SEC label)	Latest quarter	Year ago	y/y	Latest FY	Prior FY	y/y
Accounts Payable and Accrued Liabilities, Current	$71.3M	$87.9M	-18.9%	$102M	$89M	+15.0%
Accounts Receivable, after Allowance for Credit Loss, Current	$127M	$48M	+165.4%	$170M	$31.5M	+440.2%
Accounts Receivable, Allowance for Credit Loss	$02025-12-31	$0	–	$0	$0	–
Accrual for Environmental Loss Contingencies	$202M2025-12-31	$125M	+61.9%	$202M	$125M	+61.9%
Accrual for Environmental Loss Contingencies, Payments	–	–	–	$5.42M	$8.5M	-36.2%
Accrued Capping, Closure, Post-closure and Environmental Costs	$150M	–	–	–	–	–
Accrued Environmental Loss Contingencies, Current	$13.8M2025-12-31	$13.7M	+0.3%	$13.8M	$13.7M	+0.3%
Accrued Environmental Loss Contingencies, Noncurrent	$188M2025-12-31	$111M	+69.5%	$188M	$111M	+69.5%
Accrued Liabilities, Current	$11.5M	–	–	–	–	–
Accrued Reclamation Costs, Current	$10.9M	$8.84M	+23.4%	$13.8M	$13.7M	+0.3%
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$2.17B2025-12-31	$2.01B	+7.8%	$2.17B	$2.01B	+7.8%
Accumulated Other Comprehensive Income (Loss), Net of Tax	-$13.6M	-$4.58M	-197.8%	-$3.33M	-$10.3M	+67.5%
Additional Paid in Capital	$2.65B	$2.59B	+2.1%	$2.64B	$2.42B	+9.3%
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	–	–	–	2.07B	2.07B	0.0%
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$1.91M	$1.95M	-2.0%	$9.88M	$7.58M	+30.4%
Asset Retirement Obligation	$184M2025-12-31	$105M	+74.1%	$184M	$105M	+74.1%
Asset Retirement Obligation, Accretion Expense	–	–	–	$7.33M	$5.81M	+26.3%
Asset Retirement Obligation, Cash Paid to Settle	–	–	–	$662K	$4.67M	-85.8%
Asset Retirement Obligation, Revision of Estimate	–	–	–	$71.5M	$5.23M	+1,268.2%
Assets	$3.19B	$3.31B	-3.7%	$3.56B	$2.98B	+19.4%
Assets Needed for Immediate Settlement, Aggregate Fair Value	$50	–	–	$50	–	–
Assets, Current	$772M	$515M	+49.9%	$629M	$214M	+193.9%
Business Combination, Contingent Consideration, Asset	$35.9M	–	–	–	–	–
Cash and Cash Equivalents, at Carrying Value	$483M	$297M	+63.0%	$242M	$26.9M	+799.1%
Cash and Cash Equivalents, at Carrying Value, Including Discontinued Operations	$57.1M	–	–	–	–	–
Cash Provided by (Used in) Financing Activities, Discontinued Operations	$0	-$467K	+100.0%	–	–	–
Cash Provided by (Used in) Investing Activities, Discontinued Operations	$0	-$15.4M	+100.0%	$21.2M2008-12-31	–	–
Cash Provided by (Used in) Operating Activities, Discontinued Operations	$0	$53.4M	-100.0%	-$12.5M2008-12-31	–	–
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations	$485M	$298M	+62.8%	$243M	$28M	+765.5%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	-$104M	$273M	-138.1%	$215M	-$79.5M	+370.1%
Class of Warrant or Right, Exercise Price of Warrants or Rights	$8.02	$8.02	0.0%	$8.02	$8.02	0.0%
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	–	–	–	2.07M2024-12-31	–	–
Class of Warrant or Right, Outstanding	2.06M	–	–	02018-12-31	0	–
Common Stock, Dividends, Per Share, Cash Paid	$0.00	$0.00	0.0%	$0.04	$0.04	0.0%
Common Stock, Dividends, Per Share, Declared	–	–	–	$0.01	$0.01	0.0%
Common Stock, Par or Stated Value Per Share	$0.25	$0.25	0.0%	$0.25	$0.25	0.0%
Common Stock, Shares Authorized	1.25B	1.25B	0.0%	1.25B	1.25B	0.0%
Common Stock, Value, Issued	$170M	$168M	+1.3%	$170M	$160M	+6.0%
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$110M	$61M	+80.0%	$329M	$19.7M	+1,568.3%
Conversion of Stock, Shares Converted	0	–	–	3,541	20	+17,605.0%
Conversion of Stock, Shares Issued	0	–	–	11.4K	64	+17,689.1%
Convertible Preferred Stock, Shares Issued upon Conversion	3,5412025-12-31	–	–	3,541	–	–
Cost of Goods and Services Sold	$158M2026-03-31	$137M	+15.8%	$801M	$732M	+9.4%
Cost, Depreciation, Amortization and Depletion	$36.8M	$31.3M	+17.4%	$160M	$183M	-12.8%
Current Federal Tax Expense (Benefit)	$11.9M	$2.27M	+424.5%	$0	$0	–
Current Foreign Tax Expense (Benefit)	-$1.24M	$15K	-8,393.3%	$0	$0	–
Current Income Tax Expense (Benefit)	$10.7M	$2.29M	+366.7%	$27M	$10.7M	+151.7%
Current State and Local Tax Expense (Benefit)	–	–	–	$17.5M	$6.76M	+158.5%
Debt, Current	$02025-12-31	$33.6M	-100.0%	$0	$33.6M	-100.0%
Deferred Federal Income Tax Expense (Benefit)	$9.1M	$18.6M	-51.0%	$75.6M	$24.8M	+205.2%
Deferred Foreign Income Tax Expense (Benefit)	-$999K	$1.25M	-179.7%	-$15.7M	$3.72M	-523.1%
Deferred Income Tax Expense (Benefit)	$8.1M	$19.8M	-59.1%	$130M	$19.7M	+562.7%
Deferred Income Tax Liabilities, Net	$199M	$155M	+28.2%	$246M	$110M	+123.5%
Deferred Other Tax Expense (Benefit)	–	–	–	-$21.9M	$7.03M	-411.5%
Deferred State and Local Income Tax Expense (Benefit)	–	–	–	$17.2M	$5.66M	+204.4%
Deferred Tax Assets, Gross	$331M2025-12-31	$368M	-10.0%	$331M	$368M	-10.0%
Deferred Tax Assets, Net of Valuation Allowance	$220M2025-12-31	$253M	-13.1%	$220M	$253M	-13.1%
Deferred Tax Assets, Operating Loss Carryforwards, Domestic	$126M2025-12-31	$192M	-34.1%	$126M	$192M	-34.1%
Deferred Tax Assets, Operating Loss Carryforwards, Foreign	$55.6M2025-12-31	$50.8M	+9.6%	$55.6M	$50.8M	+9.6%
Deferred Tax Assets, Other	$43.3M2025-12-31	$38.4M	+12.6%	$43.3M	$38.4M	+12.6%

Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30

Data as of 2026-11-02