UNITED STATES ANTIMONY CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data UNITED STATES ANTIMONY 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	11.9	10.2	9.03	8.27	5.24	7.75	11	8.69	14.9	39.3
Cost of revenue	11.4	9.95	9.03	9.08	5.03	6.91	9.05	12	11.5	29.4
Gross profit	0.54	0.28	0	-0.82	0.21	0.84	2	-3.34	3.47	9.87
General and administrative	0.68	0.65	0.8	0.67	0.61	0.68	0.66	1.64	2.05	3.13
Operating expenses	1.35	1.24	-0.55	2.94	3.51	1.5	1.65	3.72	5.86	18.3
Operating income	-0.82	-0.96	0.55	-3.75	-3.3	-0.66	0.35	-7.07	-2.39	-8.46
Interest expense	0.16	0.11	0.1	0.08	0.02	0.01	0.02
Interest income						0.05	0.1	0.62	0.67
Other non-operating income	-0.19	-0.17	-0.01	0.08	0.02	0.6	0.1	0.72	0.66	4.12
Pre-tax income	-1.01	-1.13	0.54	-3.67	-3.29	-0.06	0.44	-6.35	-1.73	-4.34
Income tax	0.3	0	-0.33	0	0	0	0.02	0	0	0
Net income	-1.31	-1.13	0.87	-3.67	-3.29	-0.06	0.43	-6.35	-1.73	-4.34
EBITDA	0.18	0.01	1.45	-2.86	-2.42	0.22	1.26	-6.11	-1.31	-7.29
EPS, basic	-0.02	-0.02	0.01	-0.05	-0.05			-0.06	-0.02	-0.04
EPS, diluted	-0.02	-0.02	0.01	-0.05	-0.05			-0.06	-0.02	-0.04
Shares, basic (weighted)	66.8	67.4	68	69	72.5			108	109	124
Shares, diluted (weighted)	66.8	67.4	68.1	69	72.5		106	108	109	124

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	0.01	0.03	0.06	0.17	0.72	21.4	19.1	11.9	18.2	30.5
Short-term investments								6.18
Receivables	0.55	0.36	0.44	0.28	0.24	0.89	0.78	0.63	1.1	4.21
Inventory	0.86	0.91	0.76	0.63	0.65	1.06	1.38	1.39	1.25	12.5
Other current assets	0.02	0	0		0	0	0.02	0.09	0.16	0.43
Total current assets	1.69	1.56	1.9	1.28	1.81	23.6	21.6	14.1	20.7	54.7
Property, plant and equipment	15.7	15.1	15.2	12.2	11.2	11.1	12.1	13.5	12.9	42.4
Lease right-of-use assets								0	0.57	0.05
Other non-current assets	0.31	0.37	0.37	0.17	0.21	0.24	0.9	0.51	0.41	0.33
Total assets	17.8	17.1	17.6	13.7	13.3	35	34.7	28.1	34.6	154
Accounts payable	1.8	2.28	1.93	2.33	1.88	1.39	0.63	0.46	1.55	6.92
Accrued liabilities	0.21	0.19	0.16	0.64	0.64	0.27	0.2	0.13	1.6	2.9
Short-term debt	0.39	0.55	0.71	0.06	0.05	0.01	0.09	0.03	0.13	0.14
Total current liabilities	3.38	3.93	3.52	3.98	4.48	2.07	2.22	0.9	4.01	10.2
Long-term debt	1.47	1.24	1.03	0.08	0.03	0.22	0.22	0	0.2	0.06
Lease liabilities								0	0.13	0.01
Total liabilities	6.42	6.75	6.13	5.23	6.11	2.63	2.83	2.57	6.04	13
Total debt	1.86	1.79	1.73	0.13	0.09	0.2	0.22	0	0.33	0.2
Paid-in capital	36.1	36.2	36.4	37.1	39.1	64	64.1	63.9	68.6	186
Retained earnings	-25.4	-26.6	-25.7	-29.4	-32.7	-32.7	-33.1	-39.4	-41.1	-45.5
Treasury stock						0	-0.2	0		-0.57
Shareholders' equity	11.3	10.4	11.4	8.47	7.19	32.4	31.9	25.5	28.6	141
Total equity	11.3	10.4	11.4	8.47	7.19	32.4	31.9	25.5	28.6	141
Total liabilities and equity	17.8	17.1	17.6	13.7	13.3	35	34.7	28.1	34.6	154
Shares outstanding	67.1	67.5	68.2	69.7	75.9	106	106	108	113	140

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-1.31	-1.13	0.87	-3.67	-3.29	-0.06	0.43	-6.35	-1.73	-4.34
Depreciation and amortization	1	0.97	0.9	0.9	0.89	0.88	0.91	0.96	1.09	1.17
Stock-based compensation	0.14	0.17	0.18	0.18	0.13	0.11		0	0.57	7.08
Deferred income tax							0	0
Change in receivables	0.13	-0.19	-0.08	0.15	0.05	0.65	-0.05	-0.08	-0.21	-3.1
Change in inventory	-0.24	0.06	0.09	0.11	-0.02	0.41	0.6	-2.08	0.07	-12.2
Change in payables	0.17	0.48	-0.35	0.4	-0.45	-0.49	-0.76	-0.17	1.09
Cash from operations	0.43	0.72	-0.66	-0.01	-1.31	-2.43	-0.25	-4.75	2.22	-9.69
Capital expenditures	-0.6	-0.37	-0.9	-0.79	-0.24	-0.65	-1.73	-1.53	-0.43	-27.8
Purchases of investments						0	-16.2	0
Cash from investing	-0.58	-0.37	0.9	-0.39	-0.24	-0.65	-1.79	-1.34	-0.04	-87.4
Debt issued						1.79
Debt repaid	-0.18	-0.21	-0.24	-0.13	-0.05	-0.09	-0.06	-0.28	-0.1	-0.13
Stock issued						23.3	0		2.93	0.12
Share buybacks						0	-0.2	0		-0.45
Dividends paid							0	-0.79	0
Cash from financing	0.03	-0.33	-0.22	0.46	2.1	23.8	-0.27	-1.07	4.14	109
Net change in cash	-0.12	0.02	0.02	0.06	0.55	20.7	-2.3	-7.16	6.32	12.4
Free cash flow	-0.17	0.35	-1.56	-0.8	-1.55	-3.08	-1.98	-6.28	1.79	-37.5
Interest paid	0.01	0.01	0.02	0.02	0.02	0.01	0.02	0.01	0.01	0.02
Income taxes paid	0.01	0

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 $4.50 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	17.4%	Gross profit / revenue.
Operating margin	-64.0%	Operating income / revenue.
EBITDA margin	-59.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Net margin	-44.6%	Net income / revenue.
FCF margin	-195.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	-77.0%	Cash from operations / revenue.
Return on equity (ROE)	-9.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-8.5%	Net income / average total assets.
Return on invested capital (ROIC)	-13.3%	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%.
Stock-based pay / revenue	38.4%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	118.6%	Capital expenditures / revenue.
D&A / revenue	4.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	162.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	52.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	49.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	184.8%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	70.4%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	116.9%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-536.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y	-2,195.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	392.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	64.1%	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	81.3%	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	344.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	64.3%	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	63.2%	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	13.9%	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	5.2%	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	11.3%	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	11.5x	Current assets / current liabilities.
Quick ratio	6.76x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	6.36x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.00x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	0.2%	Total debt / total assets.
Liabilities / assets	5.0%	Total liabilities / total assets.
Net debt	-$41.9M	Total debt - cash - short-term investments. Negative means more cash than debt.
Working capital	$70.0M	Current assets - current liabilities.
Tangible book value	$181.0M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.19x	Revenue / average total assets.
Fixed asset turnover	0.68x	Revenue / average property, plant and equipment.
Inventory turnover	1.39x	Cost of revenue / average inventory.
Days inventory	262 days	365 x average inventory / cost of revenue.
Receivables turnover	14.0x	Revenue / average receivables.
Days sales outstanding	26 days	365 x average receivables / revenue.
Days payables	48 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	240 days	Days inventory + days sales outstanding - days payables.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.11	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	$0.24	Revenue / diluted weighted shares.
FCF per share	-$0.47	Free cash flow / diluted weighted shares.
Operating cash flow per share	-$0.18	Cash from operations / diluted weighted shares.
Book value per share	$1.20	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$1.20	Tangible book value / shares outstanding.
Cash per share	$0.28	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$673.5M	Share price x shares outstanding.
Enterprise value	$631.6M	Market cap + total debt - cash - short-term investments.
P/S	18.5x	Market cap / revenue.
P/B	3.72x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	3.72x	Market cap / tangible book value, when positive.
EV/Sales	17.3x	Enterprise value / revenue.
FCF yield	-10.6%	Free cash flow / market cap.
Earnings yield	-2.4%	Net income / market cap (the inverse of P/E).

What was UNITED STATES ANTIMONY CORP's revenue in fiscal 2025?

UNITED STATES ANTIMONY CORP reported revenue of $39.3M for fiscal 2025, 162.8% higher than the year before.

Was UNITED STATES ANTIMONY CORP profitable in fiscal 2025?

No. It reported a net loss of $4.3M.

How much free cash flow did UNITED STATES ANTIMONY CORP generate in fiscal 2025?

Cash from operations of $9.7M minus capital expenditures of $27.8M left free cash flow of -$37.5M.

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.

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