Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data TMC the metals Co 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
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
General and administrative
7.72
56.6
29.5
22.5
30.6
99.8
Operating income
-56.6
-150
-174
-72.4
-81.3
-140
Interest expense
0.42
Interest income
0.07
Pre-tax income
-141
-171
-73.7
-81.9
-320
Income tax
0.08
0.04
0.05
0.14
Net income
-0.01
-56.6
-141
-171
-73.8
-81.9
-320
EPS, basic
0.32
0.69
0.71
0.26
0.25
0.83
EPS, diluted
0.32
0.69
0.71
0.26
0.25
0.83
Shares, basic (weighted)
179
205
240
289
322
385
Shares, diluted (weighted)
179
205
240
289
322
385
Balance sheet
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
16
10.1
84.9
46.9
6.84
3.48
118
Receivables
0.04
3.69
2.73
1.98
Other current assets
0.02
0.21
Total current assets
0.02
10.2
88.6
49.6
8.82
5.33
121
Property, plant and equipment
1.31
1.42
2.03
1.13
0.77
0.52
Lease right-of-use assets
5.72
3.81
1.91
Intangible assets
1.64
1.93
2.13
Long-term investments
8.43
8.2
13.4
Total assets
0.12
54.7
133
94.8
68.9
63
182
Accounts payable
0.02
0.03
26.6
41.6
2.44
6.2
2.28
Accrued liabilities
0.08
1.85
28.9
36.6
43.8
Short-term debt
11.8
Total current liabilities
0.1
7.76
26.6
41.6
31.3
54.5
59.4
Total liabilities
0.1
18.4
40.4
53.3
58
80.1
215
Paid-in capital
0.02
45.3
102
185
123
138
238
Retained earnings
-0.01
-163
-304
-475
-549
-631
-951
Other comprehensive income
-1.22
-1.22
-1.22
-1.22
-1.2
-1.2
Shareholders' equity
0.02
36.3
92.8
41.5
10.9
-17.1
-33.4
Total equity
8.19
36.3
92.8
41.5
10.9
-17.1
-33.4
Total liabilities and equity
0.12
54.7
133
94.8
68.9
63
182
Shares outstanding
224
267
307
341
423
Cash flow statement
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-0.01
-56.6
-141
-171
-73.8
-81.9
-320
Stock-based compensation
27.1
74.6
20.1
12.4
25.3
96.7
Change in payables
-0.05
22
15.2
-1.56
12.3
1.23
Cash from operations
-26.5
-56.1
-66.6
-59.6
-43.5
-42.9
Capital expenditures
-0.58
-0.52
-0.25
Cash from investing
-0.61
-3.84
-1.17
-0.58
-0.52
0.45
Stock issued
20.4
4.24
30.4
0.03
4.87
14.8
Cash from financing
21.3
135
29.7
20.1
40.7
157
Exchange rate effect
-0.01
0.01
0.05
0.05
-0.07
-0.03
Net change in cash
-5.85
74.8
-38.1
-40.1
-3.3
114
Free cash flow
-60.2
-44
-43.1
Income taxes paid
0.03
0.09
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 $3.93 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on assets (ROA)
-169.0%
Net income / average total assets.
Growth
Metric
Value
How it is calculated
EPS growth, 1y
232.0%
EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y
5.3%
Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y
21.0%
Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
188.3%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
24.2%
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
27.1%
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
19.5%
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
17.0%
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
16.6%
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
1.93x
Current assets / current liabilities.
Quick ratio
1.87x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
1.87x
(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
-$0.10
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.10
Cash from operations / diluted weighted shares.
Book value per share
-$0.06
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
FCF yield
-2.5%
Free cash flow / market cap.
Earnings yield
-17.6%
Net income / market cap (the inverse of P/E).
Was TMC the metals Co Inc. profitable in fiscal 2025?
No. It reported a net loss of $319.8M.
How much free cash flow did TMC the metals Co Inc. generate in fiscal 2025?
Cash from operations of $42.9M minus capital expenditures of $245.0K left free cash flow of -$43.1M.
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.