Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data Ivanhoe Electric Inc. 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
Revenue
4.65
8.44
3.9
2.9
3.24
Cost of revenue
1.52
3.14
2.99
1.02
1.13
Gross profit
3.13
5.31
0.92
1.88
2.12
Research and development
3.83
5.04
6.12
2.85
0.28
Selling and marketing
0.15
0.17
0.28
0.3
0.03
General and administrative
20.4
27
48.2
44.7
39.2
Operating income
-60.7
-132
-180
-177
-114
Interest expense
1.53
2.07
3.71
2.9
2.8
Other non-operating income
-0.58
-1.01
1.38
-2.05
-1.22
Pre-tax income
-68
-160
-124
-137
-73.3
Income tax
0.48
0.62
-0.58
0.03
0.01
Net income to minority interests
-9.19
-10.4
-16.7
-11.6
-19.2
Net income
-59.3
-150
-199
-129
-106
EBITDA
-56.5
-128
-178
-174
-111
EPS, basic
0.96
1.91
1.95
1.07
0.79
EPS, diluted
0.96
1.91
1.95
1.07
0.79
Shares, basic (weighted)
61.5
78.5
102
120
134
Shares, diluted (weighted)
61.5
78.5
102
120
134
Balance sheet
FY2022
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
49.9
140
205
41
173
Receivables
1.39
1.5
1.04
0.76
0.01
Inventory
5.88
5.65
5.01
0
Other current assets
3.39
Total current assets
58.3
151
216
69.3
180
Property, plant and equipment
2.52
3.93
6.65
9.67
9.29
Intangible assets
4.34
1.25
0.12
Other non-current assets
5.86
9.3
5.69
3.47
10
Total assets
154
260
487
375
483
Accounts payable
5.72
4.58
12.9
6.31
7.79
Accrued liabilities
2.89
6.67
3.48
2.37
6.47
Deferred revenue
3.48
2.78
2.4
0
Total current liabilities
40.6
17.4
39.7
33.4
53.9
Long-term debt
0
36.2
24.2
0
Lease liabilities
0.06
0.4
1.2
1.56
1.08
Other non-current liabilities
0.87
0.39
0.56
0.37
0
Total liabilities
126
58
111
94.5
59.7
Paid-in capital
75.7
410
778
802
1,056
Retained earnings
-52.3
-202
-402
-530
-636
Other comprehensive income
-1.5
-1.19
-2.07
-3.28
-3.61
Shareholders' equity
21.9
206
374
269
416
Minority interests
5.88
-3.93
2.03
11.8
7.46
Total equity
27.8
202
376
280
424
Total liabilities and equity
154
260
487
375
483
Shares outstanding
63.9
93
120
121
146
Cash flow statement
FY2022
FY2022
FY2023
FY2024
FY2025
Net income
-68.5
-160
-216
-140
-125
Depreciation and amortization
4.25
4.21
2.64
2.7
2.95
Stock-based compensation
3.67
4.83
21
15
11.7
Deferred income tax
-0.19
-0.78
-0.2
0
0
Change in receivables
1.46
-0.11
-1.83
0.39
1.04
Change in inventory
-2.34
-2.08
0.54
-1.51
Change in payables
6.26
2.73
1.88
-7.86
0.6
Cash from operations
-47.8
-116
-151
-162
-89.2
Capital expenditures
-3.99
-8.51
-1.58
-2.93
-1.2
Cash from investing
-22.6
-48.4
-151
-14.5
4.59
Stock issued
9.68
158
320
0
231
Cash from financing
111
254
366
18.9
215
Exchange rate effect
-0
-0.48
0.21
-2.06
0.86
Net change in cash
40.5
89.8
65.4
-160
131
Free cash flow
-51.8
-124
-152
-165
-90.4
Interest paid
3.72
4.69
3.53
Income taxes paid
0.63
0.67
1.2
1.92
0.03
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 $10.56 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
58.7%
Gross profit / revenue.
Operating margin
474.5%
Operating income / revenue.
EBITDA margin
562.4%
EBITDA (operating income + depreciation and amortization) / revenue.
Net margin
-1,139.0%
Net income / revenue.
FCF margin
-3,532.0%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-3,507.0%
Cash from operations / revenue.
Return on equity (ROE)
-6.5%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-5.9%
Net income / average total assets.
Return on invested capital (ROIC)
4.2%
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%.
R&D / revenue
24.7%
Research and development expense / revenue.
Stock-based pay / revenue
365.3%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
25.4%
Capital expenditures / revenue.
D&A / revenue
87.9%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
11.8%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-27.3%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y
12.5%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
-26.4%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y
-26.2%
EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y
-25.5%
Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
54.9%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
26.3%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
28.9%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
22.9%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y
11.0%
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
19.4%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
5.05x
Current assets / current liabilities.
Quick ratio
4.80x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
4.80x
(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.
Revenue per share
$0.02
Revenue / diluted weighted shares.
FCF per share
-$0.67
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.67
Cash from operations / diluted weighted shares.
Book value per share
$3.29
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
557x
Market cap / revenue.
P/B
3.21x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
3.21x
Market cap / tangible book value, when positive.
EV/Sales
473x
Enterprise value / revenue.
EV/EBIT
99.6x
Enterprise value / operating income, when both are positive.
EV/EBITDA
84.0x
Enterprise value / EBITDA, when both are positive.
FCF yield
-6.3%
Free cash flow / market cap.
Earnings yield
-2.0%
Net income / market cap (the inverse of P/E).
What was Ivanhoe Electric Inc.'s revenue in fiscal 2025?
Ivanhoe Electric Inc. reported revenue of $3.2M for fiscal 2025, 11.8% higher than the year before.
Was Ivanhoe Electric Inc. profitable in fiscal 2025?
No. It reported a net loss of $105.9M.
How much free cash flow did Ivanhoe Electric Inc. generate in fiscal 2025?
Cash from operations of $89.2M minus capital expenditures of $1.2M left free cash flow of -$90.4M.
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.