Fortuna Mining Corp. (FSM)

NYSE: FSM · Gold and Silver Ores · Vancouver · filing with the SEC since 2005

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Grade5.9

◀ Past 5.9● Present 5.8▶ Future 6.2

1 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Fortuna Mining Corp.

Nine metrics read from its own filings, by tense

Headline grade

5.9/10

◀ Past5.940% of the headline

● Present5.835% of the headline

▶ Future6.225% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

5.9/1040% of the headline grade · 3 of 3 filed

Surviving crises

as filed

6.0/10

Has it survived what it has been through?

No warning events in its filings since 2017.

weight 45% of this tense · 60th percentile among 73 sector filers · read for itself

From the record

Fortuna Mining Corp.'s filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

5.3/10

What has it actually done, year after year?

+18.2% a year over 10 filed years; profitable in 8 of 10.

weight 33% of this tense · 54th percentile among 44 sector filers · read for its customers

From the record

Fortuna Mining Corp.'s 10 filed years say what it did: revenue went from $210 million in fiscal 2016 to $947 million in fiscal 2025, up 18.2% a year; it rose in 6 of 9 years; the deepest fall was 20% from fiscal 2023 to fiscal 2024; net income was positive in 8 of 10 of those years (its annual reports).

What it rests on

revenue growth over the filed span18.2%top 41% of its family
the share of years revenue rosebottom 44% of its family
the share of filed years with a profittop 22% of its family
the deepest fall from a revenue peak19.6%bottom 33% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed

6.4/10

How has it treated the people who own it?

Share count grew 4.8% a year. 11% of cash flow returned. Insiders: 0 sales, 0 purchases.

weight 22% of this tense · 64th percentile among 38 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, Fortuna Mining Corp.'s diluted share count grew about 4.8% a year, and dividends and buybacks returned about 11% of its net income over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

What it rests on

the share count over the yearstop 35% of its family
cash returned against operating cash flowtop 37% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

5.8/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

6.5/10

Is it financially healthy right now?

ROE 18%: 18¢ of profit per shareholder dollar. Leverage 26%: owes 26¢ per asset dollar.

weight 45% of this tense · 65th percentile among 62 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Fortuna Mining Corp. earned about 18 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 20 cents per dollar of everything the company owns. Leverage: it owed about 26 cents per dollar of assets, and net share issuance: its share count grew 7.8% over the year (the filed statements).

What it rests on

what it owes per dollar of assetstop 36% of its family
return on equitytop 16% of its family
gross profit against assetstop 42% of its family
the share count against the year beforetop 47% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

5.1/10

How strong is its position in its industry?

top 49% of 44 in its family; net margin 32.8%.

weight 33% of this tense · 51st percentile among 44 sector filers · read for its customers

From the record

Fortuna Mining Corp.'s standing among 44 graded names in its industry family: revenue of $947 million in fiscal 2025 ranks in the top 49% by size; a net margin of 32.8% ranks in the top 21%; revenue growth of 11.6% a year over the last 3 filed years ranks in the bottom 24% (its annual reports).

What it rests on

revenue against the family$947Mtop 49% of its family
net margin32.8%top 21% of its family
three-year revenue growth11.6%bottom 24% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

5.3/10

What are the people in charge doing?

SI estimate 5.3/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 16 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 16 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read.
How it was reasoned: family median, 16 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Fortuna Mining Corp.'s leadership is put at 5.3 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 16 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

6.2/1025% of the headline grade · 3 of 3 filed

Room to expand

as filed

6.7/10

How much room does it have to grow?

top 33% of 42 in its family for room to expand.

weight 22% of this tense · 67th percentile among 42 sector filers · read for itself

From the record

Fortuna Mining Corp.'s room to grow, from the newest filed statements (fiscal 2025): cash of $554 million against no long-term debt tagged leaves 23.5% of its assets as net cash, top 24% of its family; a gross margin of 49.3% (top 41%) (its annual report).

What it rests on

cash less debt against assets23.5%top 24% of its family
gross margin49.3%top 41% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

3.9/10

What could actually drive growth from here?

bottom 39% of 41 in its family for growth drivers.

weight 33% of this tense · 39th percentile among 41 sector filers · read for its customers

From the record

Fortuna Mining Corp.'s growth drivers, from the filed years to fiscal 2025: revenue grew 11.6% a year over the last three filed years against 18.2% over all 10, slowing (bottom 21% of its family); the newest year grew 39.9% (top 44%) (its annual reports). Fortuna Mining Corp. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

three-year growth against the whole span-6.6 points a yearbottom 21% of its family
the newest year's revenue growth39.9%top 44% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

7.6/10

Did its newest year beat what its own record pointed to?

top 24% of 38 in its family for expectations against reality.

weight 45% of this tense · 76th percentile among 38 sector filers · read for its shareholders

From the record

Fortuna Mining Corp.'s newest year against its own record: revenue of $947 million in fiscal 2025 came in 40.3% above the $675 million its prior three years' pace pointed to (top 33% of its family); net income of $311 million against a prior three-year average of $13 million (top 12%); a net margin of 32.8% against -1.4% before (top 28%) (its annual reports).

What it rests on

revenue against the prior three years' pace40.3%top 33% of its family
net income against the prior three years' averagefive times its prior average or moretop 12% of its family
net margin against its prior average+34.2 pointstop 28% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton FSM · research, not advice