What is Hycroft Mining's earnings per share (EPS)?

Hycroft Mining (HYMCL) reported diluted earnings per share of $-0.94 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Hycroft Mining Financials

HYMCL

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Hycroft Mining (HYMCL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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).

Rhea AI HYMCL FY2025 2026-04-22

A recapitalization-driven balance-sheet reset now funds a still-cash-consuming operating platform, rather than a self-financing business.

The FY2025 balance-sheet repair was funded externally: financing cash flow brought in $205.9M while operating cash flow was -$82.9M. That left the company with $181.7M of cash and no long-term debt, but after shares outstanding jumped from 24.9M to 83.0M, the change reads as a recapitalization rather than an operating turnaround.

Net-loss improvement in FY2025 mostly happened below the operating line: operating loss was -$44.5M versus -$43.8M in FY2024. The cleaner bottom line came largely from a lower financing burden, with interest expense falling to $11.0M from $20.0M, not from a materially lighter cost base.

Cash burn is operational, not construction-driven: free cash flow of -$83.4M was nearly the same as operating cash flow of -$82.9M in FY2025. With capex only $564K and current liabilities of $7.7M, liquidity looks strong because of fresh capital, while the business itself still consumes cash just to keep running.

Financial Health Signals

Financial Profile 33/100

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 Hycroft Mining'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.

Leverage

100

Hycroft Mining carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 24.24, Hycroft Mining holds $24.24 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Returns

Hycroft Mining generates a -19.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100.

Piotroski F-Score Weak

3/9

Hycroft Mining passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

2.04x

For every $1 of reported earnings, Hycroft Mining generates $2.04 in operating cash flow (-$82.9M OCF vs -$40.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-4.0x

Hycroft Mining earns $-4.0 in operating income for every $1 of interest expense (-$44.5M vs $11.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

-$42.4M

YoY-2.1%

Hycroft Mining's EBITDA was -$42.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 2.1% from the prior year.

Net Income

-$40.7M

YoY+33.2%

Hycroft Mining reported -$40.7M in net income in fiscal year 2025. This represents an increase of 33.2% from the prior year.

EPS (Diluted)

$-0.94

Hycroft Mining earned $-0.94 per diluted share (EPS) in fiscal year 2025. This represents an increase of 64.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$83.4M

YoY-124.6%

Hycroft Mining generated -$83.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 124.6% from the prior year.

Cash & Debt

$181.7M

YoY+266.7%

5Y CAGR+13.6%

Hycroft Mining held $181.7M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

83M

Hycroft Mining had 83M shares outstanding in fiscal year 2025. This represents an increase of 233.8% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-19.0%

5Y CAGR+801.8pp

Hycroft Mining's ROE was -19.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.

Capital Allocation

R&D Spending

$14.9M

YoY-23.9%

Hycroft Mining invested $14.9M in research and development in fiscal year 2025. This represents a decrease of 23.9% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$564K

YoY-55.0%

5Y CAGR-55.8%

Hycroft Mining invested $564K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 55.0% from the prior year.

HYMCL Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	$0-100.0%	$33.2M-70.0%	$110.7M+135.4%	$47.0M
Cost of Revenue	N/A	N/A	$0-100.0%	$53.6M-67.2%	$163.3M+49.0%	$109.6M
Gross Profit	N/A	N/A	$0+100.0%	-$20.4M+61.3%	-$52.6M+15.9%	-$62.6M
R&D Expenses	$14.9M-23.9%	$19.5M-5.4%	$20.6M+12.4%	$18.4M+35.1%	$13.6M	N/A
SG&A Expenses	$14.5M0.0%	$14.5M+14.2%	$12.7M-11.8%	$14.4M-1.7%	$14.6M-30.7%	$21.1M
Operating Income	-$44.5M-1.5%	-$43.8M+2.6%	-$45.0M+15.8%	-$53.5M+36.3%	-$83.9M+6.1%	-$89.4M
Interest Expense	$11.0M-44.8%	$20.0M+8.1%	$18.5M-0.1%	$18.5M-10.3%	$20.6M-52.6%	$43.5M
Income Tax	$0	$0	$0	$0+100.0%	-$1.5M	$0
Net Income	-$40.7M+33.2%	-$60.9M-10.7%	-$55.0M+9.5%	-$60.8M+31.3%	-$88.6M+35.1%	-$136.4M
EPS (Diluted)	$-0.94	$-2.63-0.8%	$-2.61+27.1%	$-3.58-143.5%	$-1.47+62.5%	$-3.92

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
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	$9.7M	N/A	$4.0M+70.9%	$2.3M-21.8%	$3.0M	N/A	$4.7M-7.7%	$5.1M
SG&A Expenses	$34.2M	N/A	$2.6M-26.3%	$3.5M+18.6%	$2.9M	N/A	$4.4M+12.8%	$3.9M
Operating Income	-$50.1M	N/A	-$7.3M+22.1%	-$9.3M-1.0%	-$9.2M	N/A	-$11.7M-11.4%	-$10.5M
Interest Expense	$0	N/A	$3.6M+2.4%	$3.5M+2.7%	$3.4M	N/A	$3.3M+2.3%	$3.2M
Income Tax	$0	N/A	N/A	N/A	$0	N/A	$0	N/A
Net Income	-$48.3M	N/A	-$9.4M+20.1%	-$11.7M+0.2%	-$11.8M	N/A	-$14.2M-8.0%	-$13.2M
EPS (Diluted)	$-0.54	N/A	$-0.22+48.8%	$-0.43+8.5%	$-0.47	N/A	$-0.59-3.5%	$-0.57

HYMCL Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$263.0M+87.7%	$140.1M-30.5%	$201.7M-19.0%	$249.0M+74.9%	$142.3M-38.8%	$232.6M
Current Assets	$187.5M+243.4%	$54.6M-51.9%	$113.6M-25.5%	$152.4M+307.6%	$37.4M-66.6%	$112.0M
Cash & Equivalents	$181.7M+266.7%	$49.6M-53.3%	$106.2M-25.2%	$142.0M+1050.4%	$12.3M-87.1%	$96.0M
Inventory	$1.4M+4.6%	$1.4M-26.2%	$1.8M-34.7%	$2.8M-74.6%	$11.1M-14.0%	$12.9M
Accounts Receivable	N/A	N/A	$0-100.0%	$2.8M	$0-100.0%	$426K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$49.3M-71.6%	$173.6M-8.2%	$189.0M+1.8%	$185.6M-11.9%	$210.8M-2.4%	$216.0M
Current Liabilities	$7.7M+33.5%	$5.8M-50.7%	$11.7M-2.4%	$12.0M-61.5%	$31.3M+44.2%	$21.7M
Long-Term Debt	$0-100.0%	$124.9M-12.4%	$142.6M+7.5%	$132.7M-7.6%	$143.6M+0.7%	$142.7M
Total Equity	$213.7M+739.5%	-$33.4M-364.0%	$12.7M-80.0%	$63.3M+192.4%	-$68.5M-512.2%	$16.6M
Retained Earnings	-$826.7M-5.2%	-$786.1M-8.4%	-$725.2M-8.2%	-$670.2M-10.0%	-$609.3M-17.0%	-$520.8M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$269.9M+2.6%	$263.0M+14.1%	$230.6M+42.2%	$162.1M+25.4%	$129.3M-7.7%	$140.1M-6.0%	$149.0M-4.1%	$155.5M
Current Assets	$194.2M+3.6%	$187.5M+28.9%	$145.4M+94.4%	$74.8M+70.0%	$44.0M-19.4%	$54.6M-14.9%	$64.1M-4.6%	$67.2M
Cash & Equivalents	$189.0M+4.0%	$181.7M+30.7%	$139.1M+102.3%	$68.8M+73.3%	$39.7M-19.9%	$49.6M-11.2%	$55.8M-4.6%	$58.5M
Inventory	$1.5M+3.3%	$1.4M+7.6%	$1.3M+0.4%	$1.3M+0.7%	$1.3M-3.8%	$1.4M-6.3%	$1.4M-18.4%	$1.8M
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	$46.1M-6.5%	$49.3M-73.1%	$183.1M+3.2%	$177.4M+2.1%	$173.8M+0.2%	$173.6M+0.8%	$172.2M+4.2%	$165.2M
Current Liabilities	$4.2M-45.6%	$7.7M+1.2%	$7.6M+163.5%	$2.9M+6.5%	$2.7M-53.0%	$5.8M-39.5%	$9.6M+4.1%	$9.2M
Long-Term Debt	N/A	$0-100.0%	$134.2M+2.4%	$131.0M+2.4%	$127.9M+2.4%	$124.9M+2.4%	$122.0M+2.4%	$119.2M
Total Equity	$223.8M+4.7%	$213.7M+350.0%	$47.5M+411.2%	-$15.3M+65.7%	-$44.5M-33.2%	-$33.4M-44.4%	-$23.1M-137.8%	-$9.7M
Retained Earnings	-$875.0M-5.8%	-$826.7M-1.0%	-$818.9M-1.2%	-$809.6M-1.5%	-$797.8M-1.5%	-$786.1M-1.6%	-$773.3M-1.9%	-$759.1M

HYMCL Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$82.9M-130.9%	-$35.9M+13.4%	-$41.4M-18.9%	-$34.9M+5.9%	-$37.0M+66.5%	-$110.5M
Capital Expenditures	$564K-55.0%	$1.3M+17.1%	$1.1M+12.5%	$951K-86.4%	$7.0M-79.1%	$33.4M
Free Cash Flow	-$83.4M-124.6%	-$37.1M+12.6%	-$42.5M-18.7%	-$35.8M+18.7%	-$44.0M+69.4%	-$143.9M
Investing Cash Flow	$4.1M-34.8%	$6.3M+1347.9%	-$507K-106.1%	$8.3M+221.3%	-$6.9M+77.9%	-$31.1M
Financing Cash Flow	$205.9M+894.4%	-$25.9M-1674.3%	-$1.5M-100.9%	$155.8M+2936.7%	-$5.5M-102.9%	$188.7M
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	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$31.3M+48.4%	-$60.7M-1665.5%	-$3.4M+61.9%	-$9.0M+6.9%	-$9.7M-19.8%	-$8.1M-8.4%	-$7.5M+13.1%	-$8.6M
Capital Expenditures	$576K+392.3%	$117K+134.0%	$50K-77.9%	$226K+32.2%	$171K-37.6%	$274K-48.3%	$530K+25.0%	$424K
Free Cash Flow	-$31.9M+47.6%	-$60.8M-1643.6%	-$3.5M+62.3%	-$9.2M+6.3%	-$9.9M-17.9%	-$8.4M-4.6%	-$8.0M+11.3%	-$9.0M
Investing Cash Flow	-$508K-113.1%	$3.9M+569.4%	$579K+369.3%	-$215K-88.6%	-$114K-160.6%	$188K-96.1%	$4.9M+376.1%	$1.0M
Financing Cash Flow	$39.3M-58.1%	$93.7M+31.1%	$71.5M+76.1%	$40.6M+22195.1%	$182K-90.4%	$1.9M+890.1%	$191K-97.8%	$8.9M
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

HYMCL Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	-61.3%-13.8pp	-47.5%+85.5pp	-133.0%
Operating Margin	N/A	N/A	N/A	-161.0%-85.2pp	-75.8%+114.2pp	-190.0%
Net Margin	N/A	N/A	N/A	-183.1%-103.1pp	-80.0%+209.9pp	-289.9%
Return on Equity	-19.0%	N/A	-434.8%-338.7pp	-96.1%	N/A	-820.8%
Return on Assets	-15.5%+28.0pp	-43.5%-16.2pp	-27.3%-2.8pp	-24.4%+37.8pp	-62.2%-3.6pp	-58.6%
Current Ratio	24.24+14.8	9.42-0.2	9.67-3.0	12.66+11.5	1.20-4.0	5.17
Debt-to-Equity	0.00+3.7	-3.74-15.0	11.27+9.2	2.10+4.2	-2.10-10.7	8.59
FCF Margin	N/A	N/A	N/A	-107.8%-68.0pp	-39.8%+266.2pp	-306.0%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
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	-21.6%	N/A	-19.8%	N/A	N/A	N/A	N/A	N/A
Return on Assets	-17.9%	N/A	-4.1%+3.2pp	-7.2%+1.8pp	-9.1%	N/A	-9.6%-1.1pp	-8.5%
Current Ratio	46.19+21.9	24.24+5.2	19.04-6.8	25.80+9.6	16.17+6.7	9.42+2.7	6.69-0.6	7.30
Debt-to-Equity	0.21+0.2	0.00-2.8	2.83+11.4	-8.59-5.7	-2.87+0.9	-3.74+1.5	-5.27+7.0	-12.25
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

Is Hycroft Mining profitable?

No, Hycroft Mining (HYMCL) reported a net income of -$40.7M in fiscal year 2025.

What is Hycroft Mining's EBITDA?

Hycroft Mining (HYMCL) had EBITDA of -$42.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Hycroft Mining have?

As of fiscal year 2025, Hycroft Mining (HYMCL) had $181.7M in cash and equivalents against $0 in long-term debt.

What is Hycroft Mining's return on equity (ROE)?

Hycroft Mining (HYMCL) has a return on equity of -19.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Hycroft Mining's free cash flow?

Hycroft Mining (HYMCL) generated -$83.4M in free cash flow during fiscal year 2025. This represents a -124.6% 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 Hycroft Mining's operating cash flow?

Hycroft Mining (HYMCL) generated -$82.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Hycroft Mining's total assets?

Hycroft Mining (HYMCL) had $263.0M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Hycroft Mining's capital expenditures?

Hycroft Mining (HYMCL) invested $564K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Hycroft Mining spend on research and development?

Hycroft Mining (HYMCL) invested $14.9M in research and development during fiscal year 2025.

How many shares does Hycroft Mining have outstanding?

Hycroft Mining (HYMCL) had 83M shares outstanding as of fiscal year 2025.

What is Hycroft Mining's current ratio?

Hycroft Mining (HYMCL) had a current ratio of 24.24 as of fiscal year 2025, which is generally considered healthy.

What is Hycroft Mining's debt-to-equity ratio?

Hycroft Mining (HYMCL) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Hycroft Mining's return on assets (ROA)?

Hycroft Mining (HYMCL) had a return on assets of -15.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Hycroft Mining's cash runway?

Based on fiscal year 2025 data, Hycroft Mining (HYMCL) had $181.7M in cash against an annual operating cash burn of $82.9M. This gives an estimated cash runway of approximately 26 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 Hycroft Mining's Piotroski F-Score?

Hycroft Mining (HYMCL) 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Hycroft Mining's earnings high quality?

Hycroft Mining (HYMCL) has an earnings quality ratio of 2.04x, 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 Hycroft Mining cover its interest payments?

Hycroft Mining (HYMCL) has an interest coverage ratio of -4.0x, 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 Hycroft Mining?

Hycroft Mining (HYMCL) scores 33 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.