Athena Gold Corp Financials
This page shows Athena Gold Corp (AHNRD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Athena Gold Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Athena Gold Corp carries a low D/E ratio of 0.14, meaning only $0.14 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.
Athena Gold Corp's current ratio of 1.88 indicates adequate short-term liquidity, earning a score of 34/100. The company can meet its near-term obligations, though with limited headroom.
Athena Gold Corp generates a -10.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -13.8% the prior year.
Athena Gold Corp passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.
For every $1 of reported earnings, Athena Gold Corp generates $1.05 in operating cash flow (-$666K OCF vs -$637K net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Athena Gold Corp earns $-179.0 in operating income for every $1 of interest expense (-$612K vs $3K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Athena Gold Corp reported -$637K in net income in fiscal year 2025. This represents an increase of 6.8% from the prior year.
Athena Gold Corp earned $0.00 per diluted share (EPS) in fiscal year 2025. This represents an increase of 100.0% from the prior year.
Cash & Balance Sheet
Athena Gold Corp held $242K in cash against $0 in long-term debt as of fiscal year 2025.
Athena Gold Corp had 195M shares outstanding in fiscal year 2025. This represents an increase of 43.1% from the prior year.
Margins & Returns
Athena Gold Corp's ROE was -10.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.4 percentage points from the prior year.
Capital Allocation
AHNRD Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $108K-60.5% | $273K+29.9% | $210K | N/A | $80K+5.9% | $76K-41.2% | $129K | N/A |
| Operating Income | -$274K+48.0% | -$526K-99.5% | -$264K | N/A | -$152K-55.9% | -$98K+42.2% | -$169K | N/A |
| Interest Expense | $2K+34.0% | $1K+1.1% | $1K | N/A | $2K+304.5% | $378 | $0 | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | $1.4M+1111.5% | -$137K-232.8% | $103K+126.5% | $45K+127.7% | -$164K+7.2% | -$177K-45.1% | -$122K | N/A |
| EPS (Diluted) | $0.01 | $0.00 | $0.00 | N/A | $0.00 | $0.00 | $0.00 | N/A |
AHNRD Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $8.9M+17.9% | $7.6M+11.2% | $6.8M-2.5% | $7.0M+4.8% | $6.7M-0.7% | $6.7M-2.6% | $6.9M+2.4% | $6.7M |
| Current Assets | $4.8M+261.4% | $1.3M+132.1% | $578K-21.3% | $734K+69.2% | $434K-9.6% | $480K+1045.4% | $42K-13.5% | $48K |
| Cash & Equivalents | $262K-52.6% | $552K+569.9% | $82K-65.9% | $242K+3594.2% | $7K-57.3% | $15K-3.4% | $16K+466.3% | $3K |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $682K-10.6% | $764K+35.9% | $562K-33.2% | $841K-9.4% | $928K+19.0% | $780K+30.3% | $598K+40.8% | $425K |
| Current Liabilities | $191K-39.6% | $317K+97.7% | $160K-58.9% | $390K-43.3% | $687K+21.3% | $567K+76.0% | $322K+0.5% | $320K |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $8.3M+21.1% | $6.8M+9.0% | $6.3M+1.7% | $6.2M+6.6% | $5.8M-2.8% | $5.9M-5.8% | $6.3M-0.2% | $6.3M |
| Retained Earnings | -$10.3M+11.8% | -$11.7M-0.3% | -$11.6M+0.1% | -$11.6M+1.2% | -$11.8M-1.4% | -$11.6M-3.5% | -$11.2M-2.0% | -$11.0M |
AHNRD Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$468K-123.2% | -$210K-4.1% | -$201K+54.2% | -$439K-1101.3% | -$37K+69.9% | -$122K-77.1% | -$69K-23.7% | -$55K |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | $177K+2224.0% | $8K-81.7% | $42K | $0-100.0% | $26K | $0 | $0 | $0 |
| Financing Cash Flow | $0-100.0% | $672K | $0-100.0% | $675K+44035.7% | $2K-98.7% | $121K+48.1% | $82K+289.1% | $21K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
AHNRD Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | 16.7%+18.7pp | -2.0%-3.6pp | 1.6%+0.9pp | 0.7%+3.6pp | -2.8%+0.1pp | -3.0%-1.0pp | -1.9% | N/A |
| Return on Assets | 15.5%+17.3pp | -1.8%-3.3pp | 1.5%+0.9pp | 0.7%+3.1pp | -2.5%+0.2pp | -2.6%-0.9pp | -1.8% | N/A |
| Current Ratio | 25.35+21.1 | 4.23+0.6 | 3.61+1.7 | 1.88+1.3 | 0.63-0.2 | 0.85+0.7 | 0.13-0.0 | 0.15 |
| Debt-to-Equity | 0.08-0.0 | 0.11+0.0 | 0.09-0.0 | 0.14-0.0 | 0.16+0.0 | 0.13+0.0 | 0.10+0.0 | 0.07 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Frequently Asked Questions
Is Athena Gold Corp profitable?
No, Athena Gold Corp (AHNRD) reported a net income of -$637K in fiscal year 2025.
What is Athena Gold Corp's return on equity (ROE)?
Athena Gold Corp (AHNRD) has a return on equity of -10.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Athena Gold Corp's operating cash flow?
Athena Gold Corp (AHNRD) generated -$666K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Athena Gold Corp's total assets?
Athena Gold Corp (AHNRD) had $7.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Athena Gold Corp's current ratio?
Athena Gold Corp (AHNRD) had a current ratio of 1.88 as of fiscal year 2025, which is generally considered healthy.
What is Athena Gold Corp's debt-to-equity ratio?
Athena Gold Corp (AHNRD) had a debt-to-equity ratio of 0.14 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Athena Gold Corp's return on assets (ROA)?
Athena Gold Corp (AHNRD) had a return on assets of -9.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Athena Gold Corp's cash runway?
Based on fiscal year 2025 data, Athena Gold Corp (AHNRD) had $242K in cash against an annual operating cash burn of $666K. This gives an estimated cash runway of approximately 4 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Athena Gold Corp's Piotroski F-Score?
Athena Gold Corp (AHNRD) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Athena Gold Corp's earnings high quality?
Athena Gold Corp (AHNRD) has an earnings quality ratio of 1.05x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Athena Gold Corp cover its interest payments?
Athena Gold Corp (AHNRD) has an interest coverage ratio of -179.0x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Athena Gold Corp?
Athena Gold Corp (AHNRD) scores 22 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.