Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data HYCROFT MINING HOLDING 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
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
13.7
47
111
33.2
0
Cost of revenue
30.7
110
163
53.6
0
Gross profit
-17
-62.6
-52.6
-20.4
0
Research and development
13.6
18.4
20.6
19.5
14.9
General and administrative
0.61
6.07
21.1
14.6
14.4
12.7
14.5
14.5
Operating expenses
17
26.8
31.3
33.1
43.5
33.9
Operating income
-0.61
-33.9
-89.4
-83.9
-53.5
-45
-43.8
-44.5
Interest expense
64.8
43.5
20.6
18.5
18.5
20
11
Interest income
0.01
0.8
0.2
0
2.31
8.28
4.42
4.39
Other non-operating income
2.84
4.39
0.18
-1.52
10.4
Pre-tax income
2.24
-98.9
-136
-90.1
-60.8
-55
-60.9
Income tax
0.56
0
0
-1.53
0
0
0
0
Net income
1.68
-98.9
-136
-88.6
-60.8
-55
-60.9
-40.7
EBITDA
-31.9
-83.5
-75.5
-50.1
-42.2
-41.6
-42.4
EPS, basic
-3,261.00
-38.98
-14.62
-3.58
-2.61
-2.63
-0.94
EPS, diluted
-3,261.00
-38.98
-14.62
-3.58
-2.61
-2.63
-0.94
Shares, basic (weighted)
0.03
3.5
6.04
17
21.1
23.2
43.3
Shares, diluted (weighted)
0.03
3.5
6.04
17
21.1
23.2
43.3
Balance sheet
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
52.9
49
96
12.3
142
106
49.6
182
Receivables
0.1
0.43
0
2.77
0
0.37
0.61
Inventory
4.45
12.9
11.1
2.81
1.83
1.35
1.42
Other current assets
0.05
2.65
4.3
2.34
2.84
3.33
2.86
2.95
Total current assets
0.59
38.8
112
37.4
152
114
54.6
187
Property, plant and equipment
31.5
60.2
58.5
54.8
53.1
51.6
50.1
Other non-current assets
24.9
13.5
0.6
0.6
Total assets
214
135
233
142
249
202
140
263
Accounts payable
10.7
12.3
9.43
1.77
1.63
2.39
4.42
Accrued liabilities
2.35
0.44
0.47
3.87
Deferred revenue
0
0
1.05
1.55
0
0
Short-term debt
554
5.12
16.7
2.33
2.33
0.05
0
Total current liabilities
0.76
569
21.7
31.3
12
11.7
5.79
7.73
Long-term debt
0
143
144
133
143
125
0
Lease liabilities
0
0.05
0
0.01
0
0.01
Other non-current liabilities
0
1.65
0.34
0
0.03
0
0.01
Total liabilities
8.04
574
216
211
186
189
174
49.3
Total debt
554
160
160
135
145
125
0
Paid-in capital
3.32
5.19
537
541
733
738
753
1,040
Retained earnings
1.68
-444
-521
-609
-670
-725
-786
-827
Shareholders' equity
-340
-439
16.6
-68.5
63.3
12.7
-33.4
214
Total equity
-340
-439
16.6
-68.5
63.3
12.7
-33.4
214
Total liabilities and equity
214
135
233
142
249
202
140
263
Shares outstanding
0.03
6.02
6.08
20
20.7
24.9
83
Cash flow statement
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
1.68
-98.9
-136
-88.6
-60.8
-55
-60.9
-40.7
Depreciation and amortization
2.08
5.85
8.43
3.36
2.81
2.23
2.02
Stock-based compensation
1.1
2.38
2.26
2.47
2.92
2.63
1.9
Change in receivables
-0.1
-0.33
0.43
-2.77
2.77
1.83
-0.24
Change in payables
0.2
3.38
0.37
-2.85
-3.79
-1.76
-1.09
2
Cash from operations
-0.45
-59.8
-111
-37
-34.9
-41.4
-35.9
-82.9
Capital expenditures
-12.3
-33.4
-6.99
-0.95
-1.07
-1.25
-0.56
Purchases of investments
-210
0
Cash from investing
-210
-12.3
-31.1
-6.87
8.34
-0.51
6.33
4.13
Debt repaid
-32.9
-2.2
0
-64.9
Stock issued
0
0
189
1.14
12.2
286
Cash from financing
211
68.2
189
-5.49
156
-1.46
-25.9
206
Net change in cash
-3.89
47.1
-49.4
129
-43.4
-55.5
127
Free cash flow
-72.1
-144
-44
-35.8
-42.5
-37.2
-83.4
Interest paid
10.2
5.37
3.73
5.32
6.21
1.8
1.26
Income taxes paid
0
1.55
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 $19.60 on September 28, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-34.4%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-29.4%
Net income / average total assets.
Return on invested capital (ROIC)
-256.7%
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 CAGR, 3y
50.0%
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
66.7%
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
87.7%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
1.8%
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
2.5%
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
86.7%
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
36.6%
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
65.3%
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
39.2x
Current assets / current liabilities.
Quick ratio
38.4x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
38.3x
(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
-$1.19
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$1.18
Cash from operations / diluted weighted shares.
Book value per share
$2.69
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
7.28x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
7.28x
Market cap / tangible book value, when positive.
FCF yield
-6.0%
Free cash flow / market cap.
Earnings yield
-4.7%
Net income / market cap (the inverse of P/E).
Was HYCROFT MINING HOLDING CORP profitable in fiscal 2025?
No. It reported a net loss of $40.7M.
How much free cash flow did HYCROFT MINING HOLDING CORP generate in fiscal 2025?
Cash from operations of $82.9M minus capital expenditures of $564.0K left free cash flow of -$83.4M.
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.