McEwen Inc. (MUX) intrinsic value & 10-year financials
McEwen Inc. (MUX) has a Graham intrinsic value of $19.60 per share. At $16.24 on Oct 17, 2026, the stock trades 17% below that value. Over the last 10 fiscal years revenue grew 14.1% a year to $197.6M, with an average return on invested capital of -14.3%.
- Graham intrinsic value
- $19.60
- Share price (Oct 17, 2026)
- $16.24
- Price vs Graham value
- 17% below
- Market cap
- $1.1B
- Revenue (FY2025)
- $197.6M
- Revenue growth (10-yr CAGR)
- 14.1%
- ROIC (10-yr avg)
- -14.3%
- Free cash flow (FY2025)
- —
MUX 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $197.6M | $34.4M | $0.59 | — | 1.3% | 0.5% |
| FY2024 | $174.5M | -$43.7M | -$0.86 | — | -29.0% | -9.0% |
| FY2023 | $166.2M | $55.3M | $1.16 | — | -97.5% | -22.3% |
| FY2022 | $110.4M | -$81.1M | -$1.71 | — | -86.4% | -25.0% |
| FY2021 | $136.5M | -$56.7M | -$0.12 | — | -47.1% | -14.7% |
| FY2020 | $104.8M | -$152.3M | -$0.38 | — | -146.2% | -34.9% |
| FY2019 | $117.0M | -$59.7M | -$0.17 | — | -54.6% | -11.9% |
| FY2018 | $128.8M | -$44.9M | — | -$61.9M | -36.1% | -8.5% |
| FY2017 | $67.7M | -$10.6M | -$0.03 | -$20.5M | -38.4% | -2.6% |
| FY2016 | $60.4M | $21.1M | $0.07 | $24.0M | 25.4% | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
McEwen Inc. is a consistent compounder, expanding top-line revenue at 14.1% annually over the past decade.
McEwen Inc. has historically struggled to out-earn its cost of capital, averaging just -14.3% ROIC.
Over the decade, McEwen Inc. shows that management has aggressively returned capital to shareholders by retiring 78.2% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, McEwen Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $19.60 per share.