Fortitude Gold Financials
This page shows Fortitude Gold (FTCO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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. Scores normalized against common benchmarks. How we calculate these scores
Fortitude Gold's revenue declined 50.7% year-over-year, from $37.3M to $18.4M. This contraction results in a growth score of 0/100.
Fortitude Gold carries a low D/E ratio of 0.30, meaning only $0.30 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 96/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 4.26, Fortitude Gold holds $4.26 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 84/100.
While Fortitude Gold generated -$13.0M in operating cash flow, capex of $1.9M consumed most of it, leaving -$15.0M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Fortitude Gold generates a 0.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 12/100. This is up from -1.9% the prior year.
Fortitude Gold passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Fortitude Gold generates $-30.99 in operating cash flow (-$13.0M OCF vs $420K 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
Earnings & Revenue
Fortitude Gold generated $18.4M in revenue in fiscal year 2025. This represents a decrease of 50.7% from the prior year.
Fortitude Gold reported $420K in net income in fiscal year 2025. This represents an increase of 120.6% from the prior year.
Fortitude Gold earned $0.02 per diluted share (EPS) in fiscal year 2025. This represents an increase of 125.0% from the prior year.
Cash & Balance Sheet
Fortitude Gold generated -$15.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 48.1% from the prior year.
Fortitude Gold held $4.7M in cash against $0 in long-term debt as of fiscal year 2025.
Fortitude Gold paid $0.24 per share in dividends in fiscal year 2025. This represents a decrease of 50.0% from the prior year.
Fortitude Gold had 24M shares outstanding in fiscal year 2025. This represents an increase of 0.8% from the prior year.
Margins & Returns
Fortitude Gold's gross margin was 54.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 5.0 percentage points from the prior year.
Fortitude Gold's net profit margin was 2.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 7.8 percentage points from the prior year.
Fortitude Gold's ROE was 0.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.3 percentage points from the prior year.
Capital Allocation
Fortitude Gold invested $1.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 43.9% from the prior year.
FTCO Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.3M-49.8% | $4.7M-4.7% | $4.9M-25.3% | $6.5M-30.2% | $9.4M-8.4% | $10.2M+7.1% | $9.6M+16.8% | $8.2M |
| Cost of Revenue | $792K-63.8% | $2.2M-3.6% | $2.3M-29.1% | $3.2M-33.3% | $4.8M-11.9% | $5.5M+15.1% | $4.7M+17.9% | $4.0M |
| Gross Profit | $1.5M-37.3% | $2.5M-5.7% | $2.6M-21.6% | $3.3M-27.0% | $4.6M-4.4% | $4.8M-0.8% | $4.8M+15.7% | $4.2M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $1.1M-11.5% | $1.3M-1.3% | $1.3M-0.2% | $1.3M-28.6% | $1.8M+2.8% | $1.7M+46.1% | $1.2M-2.5% | $1.2M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | -$204K-285.5% | $110K-32.9% | $164K-26.8% | $224K-24.1% | $295K-20.9% | $373K-16.7% | $448K-15.2% | $528K |
| Income Tax | -$35K+39.7% | -$58K-151.3% | $113K | $0-100.0% | $3.6M+3156.4% | -$117K-320.8% | $53K+174.6% | -$71K |
| Net Income | -$1.9M-920.2% | $233K-72.6% | $849K-32.0% | $1.2M+143.9% | -$2.8M-401.1% | $946K+785.5% | -$138K-6800.0% | -$2K |
| EPS (Diluted) | N/A | $0.01-66.7% | $0.03-40.0% | $0.05 | N/A | $0.04+500.0% | $-0.01 | $0.00 |
FTCO Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $136.2M0.0% | $136.2M+16.9% | $116.5M-3.3% | $120.4M-1.4% | $122.1M-4.0% | $127.1M+1.3% | $125.5M-3.6% | $130.2M |
| Current Assets | $38.6M+6.3% | $36.3M+27.2% | $28.6M-16.5% | $34.2M-18.3% | $41.9M-7.9% | $45.4M-12.9% | $52.1M-24.5% | $69.1M |
| Cash & Equivalents | $4.7M-60.3% | $11.7M-31.6% | $17.1M-19.9% | $21.4M-20.9% | $27.1M-10.7% | $30.3M-7.8% | $32.9M-21.5% | $41.9M |
| Inventory | $29.3M+47.3% | $19.9M+150.4% | $7.9M-11.5% | $9.0M-22.8% | $11.6M-2.8% | $12.0M-21.4% | $15.2M-37.5% | $24.4M |
| Accounts Receivable | N/A | $406K | N/A | $685K | N/A | N/A | $527K+5755.6% | $9K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $31.8M+8.0% | $29.4M+200.3% | $9.8M-27.9% | $13.6M-3.0% | $14.0M+2.2% | $13.7M+30.2% | $10.5M-15.6% | $12.5M |
| Current Liabilities | $9.1M+15.2% | $7.9M+302.6% | $2.0M-43.7% | $3.5M-15.8% | $4.1M+5.7% | $3.9M+4.8% | $3.7M-35.9% | $5.8M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $104.4M-2.2% | $106.7M0.0% | $106.7M-0.1% | $106.8M-1.2% | $108.1M-4.7% | $113.4M-1.3% | $115.0M-2.4% | $117.8M |
| Retained Earnings | -$2.8M-2401.8% | -$110K-128.4% | $388K-60.9% | $992K-62.5% | $2.6M-68.5% | $8.4M-18.9% | $10.3M-22.7% | $13.4M |
FTCO Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$4.5M-18.2% | -$3.8M-69.3% | -$2.3M+4.3% | -$2.4M-1062.3% | -$204K-114.1% | $1.4M+129.0% | -$5.0M-71.4% | -$2.9M |
| Capital Expenditures | $686K+119.2% | $313K-43.4% | $553K+41.8% | $390K+145.3% | $159K-85.6% | $1.1M-1.8% | $1.1M+3.5% | $1.1M |
| Free Cash Flow | -$5.2M-25.8% | -$4.2M-47.2% | -$2.8M-2.2% | -$2.8M-660.6% | -$363K-205.5% | $344K+105.6% | -$6.1M-53.0% | -$4.0M |
| Investing Cash Flow | -$651K-109.3% | -$311K+43.7% | -$552K-41.5% | -$390K-202.3% | -$129K+88.3% | -$1.1M+1.8% | -$1.1M-3.5% | -$1.1M |
| Financing Cash Flow | -$1.9M-47.5% | -$1.3M+12.4% | -$1.5M+49.9% | -$2.9M0.0% | -$2.9M0.0% | -$2.9M0.0% | -$2.9M-2.8% | -$2.8M |
| Dividends Paid | $731K0.0% | $731K-49.7% | $1.5M-49.9% | $2.9M0.0% | $2.9M0.0% | $2.9M0.0% | $2.9M+0.1% | $2.9M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
FTCO Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 66.1%+13.1pp | 53.0%-0.5pp | 53.5%+2.5pp | 51.0%+2.2pp | 48.8%+2.1pp | 46.7%-3.7pp | 50.4%-0.5pp | 50.9% |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -81.7%-86.8pp | 5.0%-12.4pp | 17.4%-1.7pp | 19.1%+49.5pp | -30.4%-39.6pp | 9.3%+10.7pp | -1.4%-1.4pp | -0.0% |
| Return on Equity | -1.8%-2.1pp | 0.2%-0.6pp | 0.8%-0.4pp | 1.2%+3.8pp | -2.6%-3.5pp | 0.8%+0.9pp | -0.1%-0.1pp | 0.0% |
| Return on Assets | -1.4%-1.6pp | 0.2%-0.6pp | 0.7%-0.3pp | 1.0%+3.4pp | -2.3%-3.1pp | 0.7%+0.9pp | -0.1%-0.1pp | 0.0% |
| Current Ratio | 4.26-0.4 | 4.61-10.0 | 14.60+4.8 | 9.83-0.3 | 10.13-1.5 | 11.62-2.3 | 13.97+2.1 | 11.87 |
| Debt-to-Equity | 0.30+0.0 | 0.28+0.2 | 0.09-0.0 | 0.130.0 | 0.130.0 | 0.12+0.0 | 0.09-0.0 | 0.11 |
| FCF Margin | -223.5%-134.3pp | -89.2%-31.4pp | -57.8%-15.5pp | -42.2%-38.4pp | -3.9%-7.2pp | 3.4%+67.2pp | -63.8%-15.1pp | -48.7% |
Similar Companies
Frequently Asked Questions
What is Fortitude Gold's annual revenue?
Fortitude Gold (FTCO) reported $18.4M in total revenue for fiscal year 2025. This represents a -50.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Fortitude Gold's revenue growing?
Fortitude Gold (FTCO) revenue declined by 50.7% year-over-year, from $37.3M to $18.4M in fiscal year 2025.
Is Fortitude Gold profitable?
Yes, Fortitude Gold (FTCO) reported a net income of $420K in fiscal year 2025, with a net profit margin of 2.3%.
What is Fortitude Gold's gross margin?
Fortitude Gold (FTCO) had a gross margin of 54.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Fortitude Gold's net profit margin?
Fortitude Gold (FTCO) had a net profit margin of 2.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Fortitude Gold pay dividends?
Yes, Fortitude Gold (FTCO) paid $0.24 per share in dividends during fiscal year 2025.
What is Fortitude Gold's return on equity (ROE)?
Fortitude Gold (FTCO) has a return on equity of 0.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Fortitude Gold's free cash flow?
Fortitude Gold (FTCO) generated -$15.0M in free cash flow during fiscal year 2025. This represents a -48.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Fortitude Gold's operating cash flow?
Fortitude Gold (FTCO) generated -$13.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Fortitude Gold's total assets?
Fortitude Gold (FTCO) had $136.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Fortitude Gold's capital expenditures?
Fortitude Gold (FTCO) invested $1.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Fortitude Gold's current ratio?
Fortitude Gold (FTCO) had a current ratio of 4.26 as of fiscal year 2025, which is generally considered healthy.
What is Fortitude Gold's debt-to-equity ratio?
Fortitude Gold (FTCO) had a debt-to-equity ratio of 0.30 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Fortitude Gold's return on assets (ROA)?
Fortitude Gold (FTCO) had a return on assets of 0.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Fortitude Gold's cash runway?
Based on fiscal year 2025 data, Fortitude Gold (FTCO) had $4.7M in cash against an annual operating cash burn of $13.0M. 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 Fortitude Gold's Piotroski F-Score?
Fortitude Gold (FTCO) has a Piotroski F-Score of 3 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 Fortitude Gold's earnings high quality?
Fortitude Gold (FTCO) has an earnings quality ratio of -30.99x, 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.
How financially healthy is Fortitude Gold?
Fortitude Gold (FTCO) scores 38 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.