Golden Minerals Financials

AUMN

Source SEC Filings (10-K/10-Q) Updated Jun 30, 2025 Currency USD FYE December

This page shows Golden Minerals (AUMN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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

Piotroski F-Score Weak

0/9

Golden Minerals passes 0 of 9 financial strength tests. No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

1.02x

For every $1 of reported earnings, Golden Minerals generates $1.02 in operating cash flow (-$7.7M OCF vs -$7.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Revenue

N/A

EBITDA

-$4.6M

YoY+19.6%

Golden Minerals's EBITDA was -$4.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 19.6% from the prior year.

Free Cash Flow

N/A

Net Income

-$7.6M

YoY+17.6%

Golden Minerals reported -$7.6M in net income in fiscal year 2024. This represents an increase of 17.6% from the prior year.

EPS (Diluted)

N/A

Cash & Debt

$3.2M

YoY-15.7%

5Y CAGR-7.1%

10Y CAGR-9.5%

Golden Minerals held $3.2M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

15M

YoY+6.9%

Golden Minerals had 15M shares outstanding in fiscal year 2024. This represents an increase of 6.9% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

AUMN Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	N/A	$12.0M-48.5%	$23.3M-9.0%	$25.6M+354.1%	$5.6M-27.1%	$7.7M
Cost of Revenue	N/A	$12.4M-29.5%	$17.5M+31.8%	$13.3M+569.6%	$2.0M-16.4%	$2.4M
Gross Profit	N/A	-$356K-106.2%	$5.7M-53.2%	$12.3M+236.7%	$3.6M+10.6%	$3.3M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$3.6M-23.2%	$4.7M+3.6%	$4.5M-6.7%	$4.8M+32.0%	$3.7M+1.0%	$3.6M
Operating Income	-$4.6M+26.4%	-$6.2M+39.0%	-$10.1M-592.1%	-$1.5M+83.3%	-$8.8M-74.3%	-$5.0M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	$11K-87.5%	$88K-81.0%	$462K+862.5%	$48K+37.1%	$35K
Net Income	-$7.6M+17.6%	-$9.2M+6.8%	-$9.9M-372.8%	-$2.1M+76.9%	-$9.1M-68.7%	-$5.4M
EPS (Diluted)	N/A	N/A	N/A	$-0.01+85.7%	$-0.07	N/A

Metric	Q2'25	Q2'24	Q3'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22
Revenue	N/A	N/A	N/A	$300K-88.1%	$2.5M-49.5%	$5.0M+17.9%	$4.2M-8.0%	$4.6M
Cost of Revenue	N/A	N/A	N/A	$1.1M-65.9%	$3.3M-14.0%	$3.9M-4.6%	$4.0M-3.7%	$4.2M
Gross Profit	N/A	N/A	N/A	-$833K-3.1%	-$808K-172.5%	$1.1M+551.5%	$171K-55.2%	$382K
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$748K-31.9%	$1.1M+34.8%	$815K-18.6%	$1.0M-9.9%	$1.1M-8.6%	$1.2M-8.6%	$1.3M+29.1%	$1.0M
Operating Income	-$933K+35.6%	-$1.4M-149.0%	-$582K-649.1%	$106K+104.5%	-$2.4M-111.4%	-$1.1M+60.7%	-$2.8M+29.2%	-$4.0M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	-$51K-200.0%	$51K-71.3%	$178K
Net Income	-$840K+69.4%	-$2.7M-1480.4%	$199K+115.3%	-$1.3M+59.2%	-$3.2M-113.5%	-$1.5M+54.4%	-$3.3M+20.0%	-$4.1M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

AUMN Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$4.8M-67.7%	$14.9M-0.2%	$14.9M-37.0%	$23.7M+29.5%	$18.3M+37.1%	$13.4M
Current Assets	$3.9M-55.8%	$8.7M+9.3%	$8.0M-51.2%	$16.3M+44.4%	$11.3M+82.6%	$6.2M
Cash & Equivalents	$3.2M-15.7%	$3.8M-5.2%	$4.0M-67.5%	$12.2M+26.0%	$9.7M+111.3%	$4.6M
Inventory	N/A	$830K-39.5%	$1.4M-14.7%	$1.6M+466.2%	$284K+22.9%	$231K
Accounts Receivable	N/A	$51K	N/A	N/A	$72K-83.9%	$448K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$6.9M-29.4%	$9.8M+15.7%	$8.5M-12.0%	$9.6M+51.9%	$6.3M-18.3%	$7.8M
Current Liabilities	$3.6M-35.9%	$5.7M+30.4%	$4.3M-23.7%	$5.7M+126.2%	$2.5M-43.0%	$4.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$2.1M-141.1%	$5.1M-21.1%	$6.5M-54.0%	$14.1M+17.7%	$12.0M+113.7%	$5.6M
Retained Earnings	-$554.8M-1.4%	-$547.2M-1.7%	-$538.0M-1.9%	-$528.1M-0.4%	-$525.9M-1.8%	-$516.8M

Metric	Q2'25	Q2'24	Q3'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22
Total Assets	$3.7M-23.8%	$4.8M-21.1%	$6.1M-59.1%	$14.9M+21.2%	$12.3M-19.0%	$15.2M+1.9%	$14.9M-0.2%	$14.9M
Current Assets	$2.7M-29.5%	$3.9M+52.5%	$2.5M-71.0%	$8.7M+46.7%	$5.9M-31.2%	$8.6M+26.1%	$6.8M-14.2%	$8.0M
Cash & Equivalents	$2.5M-21.2%	$3.2M+78.7%	$1.8M-52.8%	$3.8M+137.9%	$1.6M-53.3%	$3.4M+69.6%	$2.0M-49.6%	$4.0M
Inventory	N/A	N/A	N/A	$830K+172.1%	$305K-76.1%	$1.3M-14.4%	$1.5M+8.7%	$1.4M
Accounts Receivable	N/A	$107K+1428.6%	$7K-86.3%	$51K	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	$7.7M+11.0%	$6.9M-11.1%	$7.8M-20.5%	$9.8M+0.2%	$9.8M+2.1%	$9.6M+0.9%	$9.5M+12.3%	$8.5M
Current Liabilities	$4.3M+17.5%	$3.6M-19.9%	$4.5M-20.0%	$5.7M+1.3%	$5.6M+3.9%	$5.4M+0.9%	$5.3M+22.8%	$4.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$4.0M-90.7%	-$2.1M-25.0%	-$1.7M-132.9%	$5.1M+102.7%	$2.5M-55.0%	$5.6M+37.4%	$4.1M-37.0%	$6.5M
Retained Earnings	-$556.9M-0.4%	-$554.8M-0.1%	-$554.3M-1.3%	-$547.2M-0.2%	-$545.9M-0.6%	-$542.7M-0.3%	-$541.2M-0.6%	-$538.0M

AUMN Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$7.7M+21.9%	-$9.9M-2.6%	-$9.7M-783.0%	$1.4M+114.9%	-$9.5M-115.8%	-$4.4M
Capital Expenditures	N/A	N/A	$52K-96.8%	$1.6M+244.7%	$470K+1136.8%	$38K
Free Cash Flow	N/A	N/A	-$9.7M-4613.1%	-$206K+97.9%	-$10.0M-124.5%	-$4.4M
Investing Cash Flow	$7.2M+224.8%	$2.2M+1551.3%	-$152K+90.5%	-$1.6M-39975.0%	-$4K-100.1%	$3.2M
Financing Cash Flow	-$19K-100.3%	$7.5M+383.2%	$1.6M-42.8%	$2.7M-81.4%	$14.6M+489.6%	$2.5M
Dividends Paid	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

Metric	Q2'25	Q2'24	Q3'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22
Operating Cash Flow	-$2.8M-29.8%	-$2.1M-175.3%	-$777K+76.8%	-$3.4M-48.6%	-$2.3M-39.4%	-$1.6M+39.5%	-$2.7M+17.7%	-$3.3M
Capital Expenditures	N/A	$28K+2900.0%	-$1K	N/A	N/A	$0-100.0%	$5K-16.7%	$6K
Free Cash Flow	N/A	-$3.5M-352.2%	-$778K	N/A	N/A	-$1.6M+39.6%	-$2.7M+17.7%	-$3.3M
Investing Cash Flow	N/A	$3.5M+216.9%	$1.1M-35.6%	$1.7M+286.6%	$448K+2257.9%	$19K+171.4%	$7K+216.7%	-$6K
Financing Cash Flow	N/A	$0	$0-100.0%	$3.8M	$0-100.0%	$3.0M+327.0%	$701K-4.0%	$730K
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

AUMN Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	-3.0%-27.6pp	24.7%-23.3pp	48.0%-16.7pp	64.7%+22.0pp	42.7%
Operating Margin	N/A	-51.6%-8.0pp	-43.6%-37.8pp	-5.7%+150.4pp	-156.1%-90.8pp	-65.3%
Net Margin	N/A	-76.9%-34.4pp	-42.5%-34.4pp	-8.2%+153.0pp	-161.2%-91.5pp	-69.7%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-157.8%-95.9pp	-61.9%+4.4pp	-66.3%-57.5pp	-8.8%+40.8pp	-49.6%-9.3pp	-40.3%
Current Ratio	1.06-0.5	1.54-0.3	1.83-1.0	2.87-1.6	4.49+3.1	1.40
Debt-to-Equity	-3.29-5.2	1.92+0.6	1.31+0.6	0.68+0.2	0.53-0.9	1.38
FCF Margin	N/A	N/A	-41.7%-40.9pp	-0.8%+175.8pp	-176.6%-119.2pp	-57.4%

Metric	Q2'25	Q2'24	Q3'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22
Gross Margin	N/A	N/A	N/A	-277.7%-245.5pp	-32.2%-54.6pp	22.4%+18.3pp	4.1%-4.3pp	8.3%
Operating Margin	N/A	N/A	N/A	35.3%+129.0pp	-93.7%-71.3pp	-22.4%+44.7pp	-67.1%+20.0pp	-87.1%
Net Margin	N/A	N/A	N/A	-432.3%-305.9pp	-126.5%-96.5pp	-29.9%+47.5pp	-77.5%+11.5pp	-89.0%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-22.9%+22.4pp	-45.3%-48.6pp	3.3%+12.0pp	-8.7%+17.1pp	-25.8%-16.0pp	-9.8%+12.1pp	-21.9%+5.4pp	-27.3%
Current Ratio	0.64-0.4	1.06+0.5	0.56-1.0	1.54+0.5	1.06-0.5	1.60+0.3	1.28-0.6	1.83
Debt-to-Equity	-1.92+1.4	-3.29+1.3	-4.63-6.5	1.92-2.0	3.88+2.2	1.71-0.6	2.33+1.0	1.31
FCF Margin	N/A	N/A	N/A	N/A	N/A	-32.6%+31.1pp	-63.6%+7.5pp	-71.2%

Note: Shareholder equity is negative (-$2.1M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

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Frequently Asked Questions

Is Golden Minerals profitable?

No, Golden Minerals (AUMN) reported a net income of -$7.6M in fiscal year 2024.

What is Golden Minerals's EBITDA?

Golden Minerals (AUMN) had EBITDA of -$4.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Golden Minerals's operating cash flow?

Golden Minerals (AUMN) generated -$7.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Golden Minerals's total assets?

Golden Minerals (AUMN) had $4.8M in total assets as of fiscal year 2024, including both current and long-term assets.

How many shares does Golden Minerals have outstanding?

Golden Minerals (AUMN) had 15M shares outstanding as of fiscal year 2024.

What is Golden Minerals's current ratio?

Golden Minerals (AUMN) had a current ratio of 1.06 as of fiscal year 2024, which is considered adequate.

What is Golden Minerals's debt-to-equity ratio?

Golden Minerals (AUMN) had a debt-to-equity ratio of -3.29 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Golden Minerals's return on assets (ROA)?

Golden Minerals (AUMN) had a return on assets of -157.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Golden Minerals's cash runway?

Based on fiscal year 2024 data, Golden Minerals (AUMN) had $3.2M in cash against an annual operating cash burn of $7.7M. This gives an estimated cash runway of approximately 5 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.

Why is Golden Minerals's debt-to-equity ratio negative or unusual?

Golden Minerals (AUMN) has negative shareholder equity of -$2.1M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Golden Minerals's Piotroski F-Score?

Golden Minerals (AUMN) has a Piotroski F-Score of 0 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Golden Minerals's earnings high quality?

Golden Minerals (AUMN) has an earnings quality ratio of 1.02x, 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.