Forensic Analysis · Materials / Mining & Chemicals · as of Aug 11, 2026
Coeur Mining, Inc. (CDE)
A forensic read on Coeur Mining, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Safe
Financial health
12.7
Distress distance
Watch
Earnings quality
4
Forensic signals
20.7
P / E (ttm)
17.7%
ROE
$18.6B
Market cap
0.26%
Dividend yield
96.4%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Coeur Mining, Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 12.7, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+86.5%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +86.5% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The build is led by receivables up +131% against revenue +96% and inventory up +108% on the year. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 16% of net operating assets, diverging from the balance-sheet accrual read.
+30.7%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +123% over the last 3 years to FY2025 (+30.7%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~30.7% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~55%.
0.9% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 0.9% of revenue and 3% of free cash flow in FY2025 — about $0.03 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count: holders gave up about 31.7% of the company a year, and that rate is not falling. That is the figure to weigh, not the share of free cash flow.
stopped
FY2013→FY2015
Shareholder returns — halted.Capital returns have STOPPED — $28M of buybacks + dividends in FY2013, but ~$0 in FY2015. A halt usually means the company is conserving cash.
Key fundamentals
Latest Revenue$2.07B
Revenue Growth YoY+96.4%
Revenue CAGR (3yr)+38.1%
Net Margin28.3%
Free Cash Flow$665.7M
Return on Equity17.7%
Debt / Equity0.01x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Coeur Mining, Inc.'s actual 10-K/10-Q/8-K filings?