Greenland Mines Ltd. (GRML) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 14, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 17, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the GRML SEC filings page.
This page shows Greenland Mines Ltd. (GRML) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).
Equity financing is rebuilding Greenland Mines’ balance sheet while operating losses and cash outflows remain the central business mechanic.
Financing cash flow expanded from$3.1M in FY2024 to$13.0M in FY2025, while operating cash flow remained negative at-$5.9M . The simultaneous surge in shares outstanding and collapse in liabilities indicate that balance-sheet expansion came primarily through capital raising rather than internally generated cash.
FY2025 ended with
The earnings-to-cash gap is meaningful: net loss reached
Financial Health Signals
Greenland Mines Ltd. 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.
Greenland Mines Ltd. passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.
Greenland Mines Ltd. reported a net loss of $10.6M while operations used $5.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Greenland Mines Ltd. reported an operating loss of $7.1M against $2.3M 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
Greenland Mines Ltd. reported -$3.7M in net income in Q2 2026. This represents an increase of 10.0% from the same quarter a year earlier. Against the prior quarter it is up 73.4%.
Greenland Mines Ltd. earned -$0.03 per diluted share (EPS) in Q2 2026. Against the prior quarter it is up 80.0%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
Greenland Mines Ltd. held $9.3M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Greenland Mines Ltd.'s ROE was -6.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 32.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 20.6 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Greenland Mines Ltd. invested $401K in research and development in Q2 2026. This represents an increase of 67.8% from the same quarter a year earlier. Against the prior quarter it is up 24.7%.
Not reported for Q2 2026.
Not reported for Q2 2026.
GRML Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $401K+67.8% | $321K | N/A | $271K | $239K | $0 | N/A | $0 |
| SG&A Expenses | $578K-20.8% | $6.2M+630.6% | N/A | $231K+343.7% | $730K+31065.0% | $850K+9144.2% | N/A | $52K+774.0% |
| Operating Income | -$5.5M-190.1% | -$9.5M-499.4% | N/A | -$1.9M+35.4% | -$1.9M-378.5% | -$1.6M-136.1% | N/A | -$2.9M-2220.2% |
| Interest Expense | $5K-99.7% | $2K-99.7% | N/A | $1.2M+2520.3% | $1.8M+11583.6% | $554K | N/A | $45K+120.6% |
| Net Income | -$3.7M+10.0% | -$13.9M-520.3% | N/A | -$2.9M+2.2% | -$4.1M-806.3% | -$2.2M-232.4% | N/A | -$3.0M-1953.6% |
| EPS (Basic) | -$0.03+75.0% | -$0.15-87.5% | $0.01+114.3% | -$0.05+72.2% | -$0.12-300.0% | -$0.08-100.0% | -$0.07-600.0% | -$0.18-1700.0% |
| EPS (Diluted) | -$0.03 | -$0.15 | $0.01 | -$0.05 | -$0.12 | -$0.08 | -$0.07 | -$0.18 |
| Diluted Shares (Avg) | 127M | 94M | N/A | 59M | 34M | 28M | N/A | 17M |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, EBITDA, Income Tax.
GRML Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $65.0M+499.4% | $59.7M+1899.7% | $9.6M+290.4% | $10.1M+308.8% | $10.8M+227.7% | $3.0M-84.7% | $2.5M+12.1% | $2.5M-95.8% |
| Current Assets | $12.2M+42.8% | $10.9M+1489.6% | $7.3M+4521.8% | $7.8M+4926.7% | $8.5M+754.8% | $688K+8441.9% | $158K+2273.8% | $155K-24.1% |
| Cash & Equivalents | $9.3M+10.3% | $10.0M+1667.6% | $7.2M+11159.0% | $7.3M+14243.3% | $8.4M+897.3% | $566K+6928.6% | $64K+2170.0% | $51K-65.2% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $7.1M+3538.1% | $8.3M+252.1% | $130K-89.8% | $146K-85.5% | $195K-96.0% | $2.3M-87.8% | $1.3M-51.7% | $1.0M-98.2% |
| Current Liabilities | $1.2M+1821.2% | $554K-76.3% | $77K-93.8% | $93K-90.5% | $63K-93.0% | $2.3M-9.5% | $1.2M-23.0% | $982K-41.0% |
| Non-Current Liabilities | $5.9M+4354.3% | $7.7M+70219.9% | $53K+116.5% | $53K+150.0% | $132K-96.7% | $11K-99.9% | $24K-97.6% | $21K-100.0% |
| Total Equity | $57.9M+443.7% | $51.5M+7958.2% | $9.5M+698.4% | $9.9M+579.7% | $10.7M+786.5% | $639K+77.4% | $1.2M+367.8% | $1.5M+109.2% |
| Retained Earnings | -$38.7M-128.9% | -$35.0M-173.3% | -$21.1M-99.9% | -$19.8M-132.9% | -$16.9M-205.1% | -$12.8M-65.6% | -$10.6M-169.2% | -$8.5M-32.0% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
GRML Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$6.9M-253.8% | -$5.0M-219.9% | -$1.3M-35.5% | -$1.1M-4.3% | -$1.9M-113.5% | -$1.6M-6970.2% | -$944K-373.2% | -$1.1M-6053.3% |
| Stock-Based Compensation | $111K-71.5% | $5.1M+930.8% | N/A | $640K-67.2% | $390K+940.1% | $496K+72.5% | N/A | $2.0M |
| Investing Cash Flow | -$429K | -$365K | N/A | N/A | N/A | N/A | $0-100.0% | $0+100.0% |
| Financing Cash Flow | $6.6M-32.4% | $8.2M+297.0% | $1.1M+15.7% | $36K-87.0% | $9.8M+469.8% | $2.1M+1074.8% | $957K+857.0% | $279K |
Not reported in any period shown, so not listed: Depreciation & Amortization, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
GRML Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -6.4%+32.1pp | -26.9%+322.8pp | N/A | -29.2%+173.4pp | -38.4% | -349.8%-163.1pp | N/A | -202.6%-182.0pp |
| Return on Assets | -5.7%+32.1pp | -23.2%+51.6pp | N/A | -28.7%+91.4pp | -37.7%-24.1pp | -74.8%-71.4pp | N/A | -120.1%-119.9pp |
| Current Ratio | 10.09-125.6x | 19.74+19.4x | 95.01+94.9x | 83.69+83.5x | 135.74+134.6x | 0.29+0.3x | 0.13+0.1x | 0.160.0x |
| Debt-to-Equity | 0.12+0.1x | 0.16-3.5x | 0.01-1.1x | 0.01-0.7x | 0.02 | 3.68-49.7x | 1.07 | 0.69-81.4x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.
Where Greenland Mines Ltd. Ranks
Frequently Asked Questions
Is Greenland Mines Ltd. profitable?
No, Greenland Mines Ltd. (GRML) reported a net income of -$10.6M in fiscal year 2025.
What is Greenland Mines Ltd.'s return on equity (ROE)?
Greenland Mines Ltd. (GRML) has a return on equity of -111.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Greenland Mines Ltd.'s operating cash flow?
Greenland Mines Ltd. (GRML) recorded an outflow of $5.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Greenland Mines Ltd.'s total assets?
Greenland Mines Ltd. (GRML) had $9.6M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Greenland Mines Ltd. spend on research and development?
Greenland Mines Ltd. (GRML) invested $634K in research and development during fiscal year 2025.
What is Greenland Mines Ltd.'s current ratio?
Greenland Mines Ltd. (GRML) had a current ratio of 95.01 as of fiscal year 2025, which is generally considered healthy.
What is Greenland Mines Ltd.'s debt-to-equity ratio?
Greenland Mines Ltd. (GRML) had a debt-to-equity ratio of 0.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Greenland Mines Ltd.'s return on assets (ROA)?
Greenland Mines Ltd. (GRML) had a return on assets of -110.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Greenland Mines Ltd.'s P/E ratio?
Greenland Mines Ltd. (GRML) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $10.0M as of Sep 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Greenland Mines Ltd.'s price-to-sales ratio?
Greenland Mines Ltd. (GRML) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $10.0M as of Sep 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Greenland Mines Ltd.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Greenland Mines Ltd. (GRML) held $7.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $5.9M 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.
What is Greenland Mines Ltd.'s Piotroski F-Score?
Greenland Mines Ltd. (GRML) 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 Greenland Mines Ltd.'s earnings high quality?
Greenland Mines Ltd. (GRML) reported a net loss of $10.6M while operations used $5.9M 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 Greenland Mines Ltd. cover its interest payments?
Greenland Mines Ltd. (GRML) reported an operating loss of $7.1M against $2.3M 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.