Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data Dakota Gold Corp. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2022
FY2022
FY2023
FY2024
FY2025
General and administrative
1.82
23.9
9.69
10.6
9.76
Operating expenses
38
34.3
Operating income
-2.09
-31.3
-38
-34.3
-30.8
Interest expense
0
0
0.14
Interest income
0.03
0.02
0.41
0.61
1.18
Other non-operating income
27.2
-0.09
0.37
0.44
1.15
Pre-tax income
25.1
-31.4
-37.7
-33.9
-29.6
Income tax
-5.69
-1.22
-0.01
-0.06
Net income to minority interests
-0.49
-13.1
Net income
26
-12.6
-36.4
-33.9
-29.5
EBITDA
-2.07
-31.1
-37.7
-34.1
-30.6
EPS, basic
-0.35
-0.47
-0.37
-0.27
EPS, diluted
1.12
-0.35
-0.47
-0.37
-0.27
Shares, basic (weighted)
35.6
78.3
90.9
109
Shares, diluted (weighted)
23.2
35.6
78.3
90.9
109
Balance sheet
FY2022
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
11.4
41.4
25.5
9.41
29.7
Receivables
0
0.09
Other current assets
0.38
0.38
0.68
0.52
0.67
Total current assets
11.8
41.9
26.2
9.93
30.4
Property, plant and equipment
0.87
1.23
2.26
2.25
Other non-current assets
0
0.02
0.37
0.46
0.46
Total assets
70.6
120
108
95.4
116
Accounts payable
0
0
2.71
1.72
1.49
Accrued liabilities
0.32
0.47
1.33
0.68
Total current liabilities
1.76
2.54
4.49
2.75
3
Long-term debt
0.47
0
Lease liabilities
0.09
0.2
0.08
Other non-current liabilities
0.26
0.26
Total liabilities
11.6
6.25
4.67
3.2
3.34
Paid-in capital
12.1
101
146
169
218
Retained earnings
25.7
13.1
-42.7
-76.5
-106
Shareholders' equity
37.8
114
104
92.2
113
Minority interests
21.2
0
Total equity
59
114
104
92.2
113
Total liabilities and equity
70.6
120
108
95.4
116
Shares outstanding
35.1
70.9
86.7
95.6
114
Cash flow statement
FY2022
FY2022
FY2023
FY2024
FY2025
Net income
25.5
-25.7
-36.4
-33.9
-29.5
Depreciation and amortization
0.02
0.13
0.3
0.25
0.2
Stock-based compensation
3.78
3.45
Deferred income tax
-0.41
-5.69
-1.25
-0.09
Change in receivables
-0.01
-0.09
Change in payables
-0.32
-0
-1.73
0.58
Cash from operations
-2.17
-9.91
-31.3
-31.5
-25.4
Capital expenditures
-0.88
-0.49
-1.05
-0.14
-0.2
Cash from investing
-4.73
-9.16
-1.66
-0.57
-0.38
Stock issued
0
49.5
0.07
0.16
0.23
Dividends paid
-4.36
0
Cash from financing
18.2
49
34.6
15.9
46.1
Net change in cash
11.3
30
1.64
-16.1
20.3
Free cash flow
-3.05
-10.4
-32.4
-31.6
-25.6
Income taxes paid
-0.03
-0.09
-0.06
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $6.61 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-19.7%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-19.2%
Net income / average total assets.
Return on invested capital (ROIC)
-35.8%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Growth
Metric
Value
How it is calculated
Book value growth, 1y
22.1%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
21.5%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
19.8%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
33.5x
Current assets / current liabilities.
Quick ratio
33.2x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
33.2x
(Cash + short-term investments) / current liabilities.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
FCF per share
-$0.24
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.24
Cash from operations / diluted weighted shares.
Book value per share
$1.37
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
4.82x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
4.82x
Market cap / tangible book value, when positive.
FCF yield
-3.7%
Free cash flow / market cap.
Earnings yield
-4.1%
Net income / market cap (the inverse of P/E).
Was Dakota Gold Corp. profitable in fiscal 2025?
No. It reported a net loss of $29.5M.
How much free cash flow did Dakota Gold Corp. generate in fiscal 2025?
Cash from operations of $25.4M minus capital expenditures of $196.4K left free cash flow of -$25.6M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.