Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data RARE ELEMENT RESOURCES 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
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0
General and administrative
2.61
1.18
1.07
0.98
1.82
3.11
5.11
2.83
2.67
2.81
Operating expenses
3.45
1.11
2.35
2.13
3.18
5.26
9.36
11.2
21.3
5.9
Interest expense
0.03
0.04
0.03
0.03
0.02
Interest income
0.26
0.48
1.18
1.01
Other non-operating income
0.02
0.26
0.58
0.62
-0.05
-0.14
-0.07
2.18
2.85
1
Pre-tax income
-3.39
-0.93
-1.68
-1.37
-2.99
-5.09
-8.94
-8.49
-18
-4.26
Income tax
0
0
0
0
0
Net income
3.43
-0.85
-1.76
-1.51
-3.23
-5.4
-9.43
-9
-18.5
-4.9
EPS, basic
-0.05
-0.01
-0.01
-0.01
-0.02
-0.03
-0.04
-0.04
-0.04
-0.01
EPS, diluted
-0.05
-0.01
-0.01
-0.01
-0.02
-0.03
-0.04
-0.04
-0.04
-0.01
Shares, basic (weighted)
78.7
89.3
119
127
168
173
212
257
498
516
Shares, diluted (weighted)
78.7
89.3
119
127
168
173
212
257
498
516
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
0.93
4.36
2.52
5.66
2.71
22.2
15.5
3.63
26.7
19.3
Receivables
1.61
Other current assets
0.08
0.04
0.04
0.04
0.05
0.23
Total current assets
1.01
4.4
2.56
5.7
2.75
25.1
18
9.75
26.9
21.2
Property, plant and equipment
0.11
0.09
0.06
0.06
0.05
0.02
0.02
0.03
0.07
Lease right-of-use assets
0.37
0.27
0.18
0.24
0.2
Total assets
1.71
5.09
3.22
6.36
3.4
26.1
18.9
10.7
29.7
24.1
Accounts payable
0.07
0.05
0.39
0.47
0.12
0.41
0.23
0.29
1.06
1.34
Total current liabilities
0.22
0.05
0.39
0.47
0.12
1.24
0.35
1.94
2.13
1.49
Lease liabilities
0.25
0.17
0.09
0.1
0.06
Other non-current liabilities
0.6
0.6
0.6
Total liabilities
1.02
2.36
2.16
1.46
1.18
2.68
1.93
2.31
2.5
1.83
Total debt
1
Paid-in capital
23.6
23.7
23.8
23.8
24.2
25.8
28.7
29.1
29.1
29.1
Retained earnings
-127
-127
-129
-131
-134
-139
-149
-158
-176
-181
Shareholders' equity
0.69
2.73
1.07
4.91
2.22
23.4
16.9
8.44
27.2
22.3
Total equity
0.69
2.73
1.07
4.91
2.22
23.4
16.9
8.44
27.2
22.3
Total liabilities and equity
1.71
5.09
3.22
6.36
3.4
26.1
18.9
10.7
29.7
24.1
Shares outstanding
79.4
119
119
156
105
212
213
213
516
516
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
3.43
-0.85
-1.76
-1.51
-3.23
-5.4
-9.43
-9
-18.5
-4.9
Depreciation and amortization
0.04
0.02
0.01
0.01
0.01
0.03
0.1
0.29
0.25
0.03
Stock-based compensation
0.1
0.03
0.1
0.07
0.39
1.54
2.92
0.47
-0.04
0
Change in receivables
-0.11
Change in payables
-0.84
-0.01
0.35
0.1
-0.36
1
-0.89
0.06
0.77
0.28
Cash from operations
-3.64
-1.27
-1.84
-1.94
-3.12
-2.84
-9.4
-11.7
-10.6
-7.12
Capital expenditures
-0.02
Cash from investing
0.09
0
0
0
0
-0
-1.56
-0.29
Stock issued
0
4.71
0
5.04
0
25.4
0.03
35.3
Share buybacks
0.6
0
-0.05
Cash from financing
0.6
4.71
0
5.08
0.16
25.1
-0.03
0.01
35.3
Net change in cash
-2.95
3.43
-1.84
3.14
-2.96
22.2
-9.42
-11.7
23.1
-7.41
Free cash flow
-11.7
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 $0.84 on September 28, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-13.0%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-12.5%
Net income / average total assets.
Growth
Metric
Value
How it is calculated
Book value growth, 1y
-18.0%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
9.6%
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
58.6%
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
-18.7%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
8.5%
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
47.9%
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
3.6%
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
34.4%
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
25.2%
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
23.0x
Current assets / current liabilities.
Quick ratio
22.5x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
20.8x
(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
$0.00
Revenue / diluted weighted shares.
Operating cash flow per share
-$0.02
Cash from operations / diluted weighted shares.
Book value per share
$0.07
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
11.3x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
11.3x
Market cap / tangible book value, when positive.
Earnings yield
-1.1%
Net income / market cap (the inverse of P/E).
What was RARE ELEMENT RESOURCES LTD's revenue in fiscal 2025?
RARE ELEMENT RESOURCES LTD reported revenue of $0.0 for fiscal 2025.
Was RARE ELEMENT RESOURCES LTD profitable in fiscal 2025?
No. It reported a net loss of $4.9M.
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.