Fortitude Gold Corp financial statements

Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data Fortitude 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

	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	54	82.1	74.4	73.1	37.3	18.4
Cost of revenue	0.3	0.28	0.32	0.3	0.19	0.27
Gross profit	16.2	40.6	35.4	41.2	18.3	9.96
General and administrative	2.88	11.4	5.79	5	5.94	4.92
Interest expense	0.14	0.13
Other non-operating income	-0.23	-0.19	-0.06	1.96	1.91	2.31
Pre-tax income	10.4	23.5	18	21	1.4	0.44
Income tax	0.2	5.67	3.28	3.96	3.44	0.02
Net income	10.2	17.9	14.7	17	-2.04	0.42
EPS, basic	0.48	0.75	0.61	0.71	-0.08	0.02
EPS, diluted	0.48	0.74	0.61	0.70	-0.08	0.02
Shares, basic (weighted)	21.2	23.9	24	24.1	24.2	24.3
Shares, diluted (weighted)	21.2	24.1	24.2	24.2	24.2	24.6
Dividend per share		0.30	0.48	0.52	0.48	0.24

Balance sheet

	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	27.8	40	45.1	48.7	27.1	4.66
Receivables	0.15	0.24		0.04
Inventory	23.1	37.6	47.2	23.8	11.6	29.3
Other current assets	0.1	0.15	0.06	0.15	0.22	0.1
Total current assets	52.9	81.3	93.6	75.3	41.9	38.6
Property, plant and equipment	51	37.2	30.6	25.4	26.3	46.2
Lease right-of-use assets	6.2	0.46	3.83	0.6
Other non-current assets	1.95	2.91	1.82	0.34	0.39	1.06
Total assets	113	122	131	135	122	136
Accounts payable	1.72	2.13	2.52	3.88	2.64	1.47
Total current liabilities	11.1	5.31	9.53	7.95	4.13	9.07
Other non-current liabilities		0.05	0
Total liabilities	15.1	10.1	15.4	14.5	14	31.8
Total debt	0.8	0.1
Paid-in capital	99.7	103	104	104	105	107
Retained earnings	-1.93	8.63	11.8	16.3	2.64	-2.75
Shareholders' equity	98	112	116	121	108	104
Total equity	98	112	116	121	108	104
Total liabilities and equity	113	122	131	135	122	136
Shares outstanding	21.2	24	24	24.1	24.2	24.4

Cash flow statement

	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	10.2	17.9	14.7	17	-2.04	0.42
Depreciation and amortization	10.4	14.9	13.4	11.7	6.06	2.45
Stock-based compensation		3.41	0.19	0.23	1.11	1.68
Deferred income tax	-0.96	0.45	-0.77	-1.58	2.86
Change in receivables	-0.15	-0.09	0.24	-0.04	0.04
Change in inventory	-2.3	-10.9	-2.89	-6	-11.1	-13.4
Change in payables	-1.51	0.03	1.3	1.04	-1.43	-1.24
Cash from operations	13	24.7	28.6	23	-6.64	-13
Capital expenditures	-6.49	-4.55	-12	-5.42	-3.46	-1.94
Cash from investing	-6.49	-4.55	-12	-6.85	-3.43	-1.9
Debt repaid	-0.88	-0.67	-0.09	-0.03	-0
Stock issued		0.5	0.06	0.06	0.08
Dividends paid		-7.31	-11.5	-12.5	-11.6	-5.82
Cash from financing	20.4	-7.88	-11.6	-12.5	-11.5	-7.51
Net change in cash	26.9	12.2	5.04	3.62	-21.6	-22.4
Free cash flow	6.52	20.1	16.6	17.6	-10.1	-15
Interest paid	0.09	0.03			0.05	0.22
Income taxes paid		5.89	3.35	4.72	2.51	0.86

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 $4.57 on September 28, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	63.0%	Gross profit / revenue.
Pre-tax margin	-30.3%	Pre-tax income / revenue.
Net margin	-14.8%	Net income / revenue.
FCF margin	-99.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	-87.7%	Cash from operations / revenue.
Return on equity (ROE)	-2.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-1.8%	Net income / average total assets.
Stock-based pay / revenue	13.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	12.1%	Capital expenditures / revenue.
D&A / revenue	9.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-50.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-37.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-19.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-45.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-34.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-9.2%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income CAGR, 3y	-69.4%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-47.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS CAGR, 3y	-68.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-47.0%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	-50.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	-20.6%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	-3.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-3.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	1.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	11.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	1.3%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	3.8%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	1.7%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	3.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	4.35x	Current assets / current liabilities.
Quick ratio	1.28x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.28x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	19.4%	Total liabilities / total assets.
Working capital	$35.4M	Current assets - current liabilities.
Tangible book value	$119.3M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.12x	Revenue / average total assets.
Fixed asset turnover	0.44x	Revenue / average property, plant and equipment.
Inventory turnover	0.00x	Cost of revenue / average inventory.
Days inventory	76,285 days	365 x average inventory / cost of revenue.
Days payables	7,679 days	365 x average accounts payable / cost of revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.10	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.
Revenue per share	$0.66	Revenue / diluted weighted shares.
FCF per share	-$0.66	Free cash flow / diluted weighted shares.
Operating cash flow per share	-$0.58	Cash from operations / diluted weighted shares.
Book value per share	$4.17	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$4.17	Tangible book value / shares outstanding.
Cash per share	$0.47	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$130.7M	Share price x shares outstanding.
Enterprise value	$117.1M	Market cap + total debt - cash - short-term investments.
P/S	7.10x	Market cap / revenue.
P/B	1.10x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.10x	Market cap / tangible book value, when positive.
EV/Sales	6.37x	Enterprise value / revenue.
FCF yield	-14.0%	Free cash flow / market cap.
Earnings yield	-2.1%	Net income / market cap (the inverse of P/E).
Dividend yield	2.4%	Dividends paid over the period / market cap.
Shareholder yield	2.4%	(Dividends paid + share buybacks) / market cap.

What was Fortitude Gold Corp's revenue in fiscal 2025?

Fortitude Gold Corp reported revenue of $18.4M for fiscal 2025, 50.7% lower than the year before.

Was Fortitude Gold Corp profitable in fiscal 2025?

Yes. Net income was $420.0K, a net margin of 2.3%.

How much free cash flow did Fortitude Gold Corp generate in fiscal 2025?

Cash from operations of $13.0M minus capital expenditures of $1.9M left free cash flow of -$15.0M.

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.

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