Financials First Quantum Minerals Ltd.

Equities

FM

CA3359341052

Specialty Mining & Metals

Delayed Toronto S.E. Other stock markets 10:41:49 2025-07-14 EDT			5-day change	1st Jan Change
23.10 ^CAD	-0.94%		-6.70%	+24.66%

07-11	First Quantum says Prospect investment key to Zambia copper expansion	RE
07-11	First Quantum says Prospect investment key to Zambia copper expansion	RE

Projected Income Statement: First Quantum Minerals Ltd.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	5,199	7,212	7,626	6,456	4,802	4,754	6,339	9,109
Change	-	38.72%	5.74%	-15.34%	-25.62%	-1.01%	33.35%	43.69%
EBITDA ¹	2,152	3,684	3,316	2,328	1,491	1,624	2,475	4,486
Change	-	71.19%	-9.99%	-29.79%	-35.95%	8.95%	52.33%	81.27%
EBIT ¹	935	2,510	2,086	1,207	858	997.7	1,860	3,280
Change	-	168.45%	-16.89%	-42.14%	-28.91%	16.28%	86.43%	76.34%
Interest Paid ¹	-738	-660	-582	-613	-709	-677.7	-671.8	-730.8
Earnings before Tax (EBT) ¹	32	1,901	1,469	-486	280	359.9	1,316	2,986
Change	-	5,840.62%	-22.72%	-133.08%	157.61%	28.52%	265.67%	126.89%
Net income ¹	-180	832	1,034	-954	2	4.461	711.7	1,738
Change	-	562.22%	24.28%	-192.26%	100.21%	123.07%	15,853.53%	144.15%
Announcement Date	2/16/21	2/15/22	2/14/23	2/20/24	2/11/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1
Net sales ¹	1,014	1,402	1,601	1,678	1,847	1,802	2,061	2,163	1,904	1,727	1,832	1,558	1,651	2,029	1,218	1,036	1,231	1,279	1,256	1,190	1,079	1,205	1,194	1,503	1,816	2,113	2,510	2,816
Change	-	38.26%	14.19%	4.81%	10.07%	-2.44%	14.37%	4.95%	-11.97%	-9.3%	6.08%	-14.96%	5.97%	22.9%	-39.97%	-14.94%	18.82%	3.9%	-1.8%	-5.25%	-9.3%	11.61%	-0.85%	25.8%	20.87%	16.37%	18.74%	12.2%
EBITDA ¹	352	641	725	811	902	886	1,085	1,180	906	583	647	518	568	969	273	180	336	520	455	377	326.5	414.5	424	459.1	626.3	789	1,049	1,548
Change	-	82.1%	13.1%	11.86%	11.22%	-1.77%	22.46%	8.76%	-23.22%	-35.65%	10.98%	-19.94%	9.65%	70.6%	-71.83%	-34.07%	86.67%	54.76%	-12.5%	-17.14%	-13.41%	26.96%	2.29%	8.29%	36.43%	25.96%	32.98%	47.53%
EBIT ¹	95	318	399	525	616	598	771	885	618	263	320	247	267	585	47	23	188	361	286	218	212.5	314.3	293.5	388.6	468.7	690.1	944.8	1,227
Change	-	234.74%	25.47%	31.58%	17.33%	-2.92%	28.93%	14.79%	-30.17%	-57.44%	21.67%	-22.81%	8.1%	119.1%	-91.97%	-51.06%	717.39%	92.02%	-20.78%	-23.78%	-2.54%	47.94%	-6.63%	32.41%	20.62%	47.24%	36.91%	29.89%
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	-87	94	170	350	-	-	-	-	-	-	-	-	-	-	-1,150	-171	-30	173	308	52	29.4	141.1	82.39	156.8	301.6	523	777.7	1,060
Change	-	208.05%	80.85%	105.88%	-	-	-	-	-	-	-	-	-	-	-	85.13%	82.46%	676.67%	78.03%	-83.12%	-43.46%	379.76%	-41.59%	90.35%	92.32%	73.4%	48.7%	36.32%
Net income ¹	-	-	-	-	-	-	247	-	419	113	117	75	93	325	-1,447	-159	-46	108	99	-23	-31.36	18.6	-34.62	42.75	112.3	273.8	447.2	639.4
Change	-	-	-	-	-	-	-	-	-	-73.03%	3.54%	-35.9%	24%	249.46%	-545.23%	89.01%	71.07%	334.78%	-8.33%	-123.23%	-36.33%	159.32%	-286.16%	223.45%	162.75%	143.76%	63.36%	42.97%
Announcement Date	7/28/20	10/28/20	2/16/21	4/27/21	7/27/21	10/26/21	2/15/22	4/26/22	7/26/22	10/25/22	2/14/23	4/25/23	7/25/23	10/24/23	2/20/24	4/23/24	7/23/24	10/22/24	2/11/25	4/23/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: First Quantum Minerals Ltd.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	7,409	6,053	5,692	6,420	5,530	5,838	5,807	4,808
Change	-	-18.3%	-5.96%	12.79%	-13.86%	5.57%	-0.53%	-17.2%
Announcement Date	2/16/21	2/15/22	2/14/23	2/20/24	2/11/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: First Quantum Minerals Ltd.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	610	999	1,167	1,300	1,286	1,310	1,144	981.6
Change	-	63.77%	16.82%	11.4%	-1.08%	1.86%	-12.67%	-14.2%
Free Cash Flow (FCF) ¹	1,003	1,886	1,165	127	365	93.9	183	1,336
Change	-	88.04%	-38.23%	-89.1%	187.4%	-74.27%	94.89%	630.27%
Announcement Date	2/16/21	2/15/22	2/14/23	2/20/24	2/11/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: First Quantum Minerals Ltd.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	41.39%	51.08%	43.48%	36.06%	31.05%	34.17%	39.04%	49.25%
EBIT Margin (%)	17.98%	34.8%	27.35%	18.7%	17.87%	20.99%	29.34%	36.01%
EBT Margin (%)	0.62%	26.36%	19.26%	-7.53%	5.83%	7.57%	20.76%	32.78%
Net margin (%)	-3.46%	11.54%	13.56%	-14.78%	0.04%	0.09%	11.23%	19.08%
FCF margin (%)	19.29%	26.15%	15.28%	1.97%	7.6%	1.98%	2.89%	14.67%
FCF / Net Income (%)	-557.22%	226.68%	112.67%	-13.31%	18,250%	2,104.74%	25.71%	76.9%
Profitability
ROA	-0.19%	3.36%	4.11%	1.07%	-0.07%	-0.26%	1.37%	6.3%
ROE	-0.5%	8.81%	9.89%	2.47%	-0.16%	-0.08%	4.87%	10.7%
Financial Health
Leverage (Debt/EBITDA)	3.44x	1.64x	1.72x	2.76x	3.71x	3.59x	2.35x	1.07x
Debt / Free cash flow	7.39x	3.21x	4.89x	50.55x	15.15x	62.17x	31.73x	3.6x
Capital Intensity
CAPEX / Current Assets (%)	11.73%	13.85%	15.3%	20.14%	26.78%	27.56%	18.05%	10.78%
CAPEX / EBITDA (%)	28.35%	27.12%	35.19%	55.84%	86.25%	80.64%	46.23%	21.88%
CAPEX / FCF (%)	60.82%	52.97%	100.17%	1,023.62%	352.33%	1,395.07%	625.16%	73.45%
Items per share
Cash flow per share ¹	2.34	4.171	3.365	2.066	2.033	1.442	1.585	3.736
Change	-	78.24%	-19.32%	-38.62%	-1.59%	-29.07%	9.9%	135.78%
Dividend per Share ¹	0.00793	0.00788	0.2129	0.0592	-	0.00778	0.014	0.2197
Change	-	-0.63%	2,601.9%	-72.18%	-	-	79.95%	1,469.57%
Book Value Per Share ¹	12.88	14.48	15.74	14.83	14.12	13.6	14.18	15.72
Change	-	12.43%	8.69%	-5.78%	-4.8%	-3.66%	4.22%	10.85%
EPS ¹	-0.26	1.2	1.5	-1.38	-	0.0534	0.8066	1.904
Change	-	561.54%	25%	-192%	-	-	1,411.68%	136.1%
Nbr of stocks (in thousands)	687,049	688,851	687,504	687,342	827,393	828,045	828,045	828,045
Announcement Date	2/16/21	2/15/22	2/14/23	2/20/24	2/11/25	-	-	-