Bunker Hill Financials
This page shows Bunker Hill (BHLL) 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).
Financing-led expansion is visible: external funding supports asset growth while operations continue consuming cash.
FY2025's earnings-to-cash gap is unusually wide: net loss reached-$93.1M while operating loss was-$13.6M . Operating cash flow of-$17.7M indicates that much of the reported loss did not represent current-period cash outflow, although the underlying operations still required funding.
Assets increased from
The current ratio improved from 0.3x in FY2024 to 1.4x in FY2025, indicating better short-term coverage. Yet financing dependence remains central:
Financial Health Signals
Bunker Hill does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Bunker Hill passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, all 2 leverage/liquidity signals pass.
Bunker Hill reported a net loss of $93.1M while operations used $17.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Bunker Hill reported an operating loss of $13.6M against $29K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Bunker Hill's EBITDA was -$13.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 14.4% from the prior year.
Bunker Hill reported -$93.1M in net income in fiscal year 2025. This represents a decrease of 219.5% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Bunker Hill held $22.4M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
None of these metrics is reported for fiscal year 2025.
Capital Allocation
None of these metrics is reported for fiscal year 2025.
BHLL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $3.2M+34.3% | $2.4M | N/A | $2.2M-16.1% | $2.6M+23.1% | $2.1M | N/A | $2.4M |
| Operating Income | -$4.4M-11.0% | -$4.0M | N/A | -$3.2M-1.9% | -$3.1M-6.9% | -$2.9M | N/A | -$3.4M |
| Interest Expense | $21K+410.0% | $4K | N/A | $6K-34.6% | $10K+7.2% | $9K | N/A | $2K |
| Income Tax | N/A | N/A | N/A | $0 | $0 | $0 | N/A | $449K |
| Net Income | $18.2M-9.6% | $20.1M | N/A | -$28.1M-237.2% | $20.5M+422.4% | -$6.3M | N/A | -$8.1M |
| EPS (Diluted) | $0.37-9.8% | $0.41+110.1% | -$4.07 | -$0.03-200.0% | $0.03 | -$0.42+83.6% | -$2.56-12700.0% | -$0.02 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
BHLL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $174.5M-4.0% | $181.9M+20.5% | $151.0M+0.7% | $149.9M+28.6% | $116.6M+13.2% | $102.9M+5.5% | $97.6M+19.4% | $81.7M |
| Current Assets | $11.2M-69.3% | $36.5M+56.6% | $23.3M-39.1% | $38.2M+223.3% | $11.8M+73.8% | $6.8M-27.1% | $9.3M-26.2% | $12.6M |
| Cash & Equivalents | $6.7M-78.2% | $30.5M+36.1% | $22.4M-34.9% | $34.4M+352.3% | $7.6M+223.1% | $2.4M-37.8% | $3.8M-48.7% | $7.4M |
| Inventory | $940K | N/A | $341K | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $629K-76.3% | $2.7M+393.5% | $538K+18.5% | $454K-47.2% | $860K+52.3% | $564K-18.2% | $690K-7.7% | $748K |
| Total Liabilities | $163.5M-13.7% | $189.4M-8.5% | $207.0M+55.8% | $132.9M+51.4% | $87.8M-44.5% | $158.2M+5.7% | $149.7M+19.1% | $125.7M |
| Current Liabilities | $23.0M-3.2% | $23.7M+41.0% | $16.8M+29.9% | $13.0M+6.1% | $12.2M-51.1% | $25.0M-15.7% | $29.6M+26.2% | $23.5M |
| Total Equity | $11.0M+246.4% | -$7.5M+86.6% | -$56.1M-429.4% | $17.0M-40.9% | $28.8M+152.1% | -$55.3M-6.0% | -$52.1M-18.5% | -$44.0M |
| Retained Earnings | -$165.2M+9.9% | -$183.4M+9.9% | -$203.5M-63.5% | -$124.4M-29.3% | -$96.3M+17.5% | -$116.7M-5.8% | -$110.4M-7.6% | -$102.6M |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
BHLL Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$11.9M-907.3% | $1.5M+126.7% | -$5.5M-344.8% | -$1.2M+84.7% | -$8.1M-185.4% | -$2.8M-249.2% | -$812K+78.4% | -$3.8M |
| Investing Cash Flow | -$14.1M+9.6% | -$15.6M-57.3% | -$9.9M-25.2% | -$7.9M+13.7% | -$9.2M+35.1% | -$14.1M+18.8% | -$17.4M-59.7% | -$10.9M |
| Financing Cash Flow | $2.1M-91.6% | $25.2M+5965.3% | $415K-98.8% | $36.0M+59.7% | $22.5M+60.5% | $14.0M-4.0% | $14.6M-20.9% | $18.5M |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
BHLL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | 165.0% | N/A | N/A | -164.9%-236.0pp | 71.1% | N/A | N/A | N/A |
| Return on Assets | 10.4%-0.7pp | 11.1% | N/A | -18.7%-36.3pp | 17.5%+23.7pp | -6.2% | N/A | -9.9% |
| Current Ratio | 0.49-1.0x | 1.54+0.2x | 1.38-1.6x | 2.95+2.0x | 0.97+0.7x | 0.270.0x | 0.31-0.2x | 0.54 |
| Debt-to-Equity | 14.83 | N/A | N/A | 7.81+4.8x | 3.05 | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$56.1M), 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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Where Bunker Hill Ranks
Frequently Asked Questions
Is Bunker Hill profitable?
No, Bunker Hill (BHLL) reported a net income of -$93.1M in fiscal year 2025.
What is Bunker Hill's EBITDA?
Bunker Hill (BHLL) had EBITDA of -$13.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Bunker Hill's operating cash flow?
Bunker Hill (BHLL) recorded an outflow of $17.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Bunker Hill's total assets?
Bunker Hill (BHLL) had $151.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Bunker Hill's current ratio?
Bunker Hill (BHLL) had a current ratio of 1.38 as of fiscal year 2025, which is considered adequate.
What is Bunker Hill's return on assets (ROA)?
Bunker Hill (BHLL) had a return on assets of -61.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Bunker Hill's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Bunker Hill (BHLL) held $22.4M in cash, cash equivalents and investments, and reported an operating cash outflow of $17.7M over that year. Dividing the one by the other, the reported balance equals about 15 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is Bunker Hill's debt-to-equity ratio negative or not reported?
Bunker Hill (BHLL) has negative shareholder equity of -$56.1M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. 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 Bunker Hill's Piotroski F-Score?
Bunker Hill (BHLL) has a Piotroski F-Score of 3 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Bunker Hill's earnings high quality?
Bunker Hill (BHLL) reported a net loss of $93.1M while operations used $17.7M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Bunker Hill cover its interest payments?
Bunker Hill (BHLL) reported an operating loss of $13.6M against $29K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.