Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data Lifezone Metals Ltd 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
FY2023
FY2023
FY2024
FY2025
Revenue
2.09
2.93
1.48
0.14
1.06
Cost of revenue
0
0.75
0.09
0.53
Gross profit
2.09
2.93
0.72
0.05
0.52
Operating income
-18
-25.7
-365
-48.3
-18.4
Pre-tax income
-18.2
-25.5
-365
-46.6
-14.4
Income tax
0
0.54
-0.26
Net income to minority interests
-0.18
-1.91
-0.79
-0.83
-0.48
Net income
-18
-23.6
-364
-46.3
-13.6
EBITDA
-25.5
-364
-46.8
-17
EPS, basic
-0.32
-0.40
-5.34
-0.59
-0.17
EPS, diluted
-0.32
-0.40
-5.34
-0.59
-0.17
Balance sheet
FY2021
FY2023
FY2023
FY2024
FY2025
Cash and equivalents
45.6
20.5
49.4
29.3
20.1
Receivables
6.01
3.82
2.12
2.03
Inventory
0.05
0.1
0.16
0.06
Total current assets
76.6
54.8
31.7
27.4
Property, plant and equipment
0.88
6
5.29
4.32
Lease right-of-use assets
0.35
1.69
1.24
2.12
Goodwill
0
9.02
0
0
Intangible assets
0.6
0.91
0.89
0.88
Total assets
61.9
97
142
157
176
Accounts payable
16.6
8.34
4.82
3.76
Total current liabilities
16.7
12.8
56
59.1
Lease liabilities
0.29
1.19
0.8
1.12
Total liabilities
8.03
21
13.9
57.3
103
Paid-in capital
25.4
179
185
190
Retained earnings
-44.3
-408
-454
-468
Shareholders' equity
64.8
118
89.5
73.8
Minority interests
11.2
10.4
9.79
-1
Total equity
53.9
76
128
99.3
72.8
Total liabilities and equity
61.9
97
142
157
176
Cash flow statement
FY2021
FY2023
FY2023
FY2024
FY2025
Net income
-18.2
-25.5
-365
-47.1
-14.1
Depreciation and amortization
0.2
0.71
1.49
1.44
Cash from operations
-7.09
-17
-27
-15.9
-15.6
Cash from investing
-0.19
-7.96
-59.9
-52.7
-21.3
Debt issued
0
70.2
0
0
Stock issued
0
0
0
0
Cash from financing
49.8
-0.08
116
48.4
27.6
Exchange rate effect
-0.01
0.04
0.02
0.1
Income taxes paid
0
0
-0.54
0.26
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $3.99 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
49.5%
Gross profit / revenue.
Operating margin
-1,742.0%
Operating income / revenue.
EBITDA margin
-1,606.0%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-1,359.0%
Pre-tax income / revenue.
Net margin
-1,289.0%
Net income / revenue.
Operating cash flow margin
-1,475.0%
Cash from operations / revenue.
Return on equity (ROE)
-16.7%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-8.2%
Net income / average total assets.
Return on invested capital (ROIC)
-25.5%
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%.
D&A / revenue
136.5%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
652.2%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-28.8%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y
875.7%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
-43.7%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
-17.5%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
4.5%
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
12.2%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
21.9%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.46x
Current assets / current liabilities.
Quick ratio
0.38x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.34x
(Cash + short-term investments) / current liabilities.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$0.17
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.
EPS, basic
-$0.17
Net income per basic share, as reported (split-adjusted).
Valuation
Metric
Value
How it is calculated
Market cap
$358.8M
Share price x shares outstanding.
Enterprise value
$338.6M
Market cap + total debt - cash - short-term investments.
P/S
339x
Market cap / revenue.
P/B
4.86x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
4.92x
Market cap / tangible book value, when positive.
EV/Sales
320x
Enterprise value / revenue.
Earnings yield
-3.8%
Net income / market cap (the inverse of P/E).
What was Lifezone Metals Ltd's revenue in fiscal 2025?
Lifezone Metals Ltd reported revenue of $1.1M for fiscal 2025, 652.2% higher than the year before.
Was Lifezone Metals Ltd profitable in fiscal 2025?
No. It reported a net loss of $13.6M.
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.