Ivanhoe Electric Inc. Financials
Ivanhoe Electric Inc. (IE) reported $3.2M in revenue for fiscal year 2025, up 11.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).
Ivanhoe Electric’s dominant mechanic is capital-funded development, with a large balance sheet supported mainly by financing rather than sales.
FY2025 shows a real narrowing in burn—net loss improved to-$105.9M from-$128.6M —but that did not translate into self-funding. Cash increased only because financing inflows of$214.7M more than offset operating cash outflow of-$89.2M , so better reported results still sit inside an externally financed model.
With total assets of
The cash rebuild from
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Ivanhoe Electric Inc.'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.
Ivanhoe Electric Inc. scores 16.80, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.9B) relative to total liabilities ($59.7M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Ivanhoe Electric Inc. passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Ivanhoe Electric Inc. reported a net loss of $105.9M while operations used $89.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Ivanhoe Electric Inc. reported an operating loss of $113.6M against $2.8M 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
Ivanhoe Electric Inc. generated $3.2M in revenue in fiscal year 2025. This represents an increase of 11.8% from the prior year.
Ivanhoe Electric Inc.'s EBITDA was -$110.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 36.5% from the prior year.
Ivanhoe Electric Inc. reported -$105.9M in net income in fiscal year 2025. This represents an increase of 17.7% from the prior year.
Ivanhoe Electric Inc. earned $0.79 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 26.2% from the prior year.
Cash & Balance Sheet
Ivanhoe Electric Inc. recorded an outflow of $90.4M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 45.2% from the prior year.
Ivanhoe Electric Inc. held $173.3M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Ivanhoe Electric Inc.'s gross margin was 65.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.4 percentage points from the prior year.
Ivanhoe Electric Inc.'s ROE was -25.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 22.4 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Ivanhoe Electric Inc. invested $275K in research and development in fiscal year 2025. This represents a decrease of 90.4% from the prior year.
Ivanhoe Electric Inc. invested $1.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 58.9% from the prior year.
Not reported for fiscal year 2025.
IE Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|
| Revenue | $3.0M | $3.2M+11.8% | $2.9M-25.7% | $3.9M-53.8% | $8.4M+81.4% | $4.7M |
| Cost of Revenue | $1.2M | $1.1M+10.6% | $1.0M-65.9% | $3.0M-4.8% | $3.1M+106.3% | $1.5M |
| Gross Profit | $1.8M | $2.1M+12.5% | $1.9M+105.3% | $917K-82.7% | $5.3M+69.4% | $3.1M |
| R&D Expenses | $746K | $275K-90.4% | $2.9M-53.4% | $6.1M+21.4% | $5.0M+31.8% | $3.8M |
| SG&A Expenses | $36.1M | $39.2M-12.3% | $44.7M-7.2% | $48.2M+78.7% | $27.0M+32.2% | $20.4M |
| Operating Income | $14.3M | -$113.6M+35.8% | -$177.0M+1.9% | -$180.4M-36.5% | -$132.2M-117.6% | -$60.7M |
| Interest Expense | N/A | $2.8M-3.6% | $2.9M-21.8% | $3.7M+79.0% | $2.1M+35.0% | $1.5M |
| Income Tax | $12.2M | $12K-62.5% | $32K+105.5% | -$584K-194.5% | $618K+27.7% | $484K |
| Net Income | -$34.4M | -$105.9M+17.7% | -$128.6M+35.5% | -$199.4M-24.4% | -$160.2M-133.9% | -$68.5M |
| EPS (Diluted) | — | $0.79-26.2% | $1.07-45.1% | $1.95+2.1% | $1.91+99.0% | $0.96 |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
IE Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| Total Assets | $483.3M+28.9% | $374.9M-23.0% | $487.2M+87.0% | $260.5M+69.7% | $153.5M |
| Current Assets | $180.2M+160.1% | $69.3M-68.0% | $216.5M+43.3% | $151.0M+159.2% | $58.3M |
| Cash & Equivalents | $173.3M+322.9% | $41.0M-80.0% | $205.0M+46.8% | $139.7M+180.2% | $49.9M |
| Inventory | N/A | $0-100.0% | $5.0M-11.2% | $5.6M-3.9% | $5.9M |
| Accounts Receivable | $14K-98.2% | $762K-26.8% | $1.0M-30.5% | $1.5M+8.1% | $1.4M |
| Total Liabilities | $59.7M-36.8% | $94.5M-14.8% | $110.9M+91.2% | $58.0M-53.8% | $125.7M |
| Current Liabilities | $53.9M+61.2% | $33.4M-15.9% | $39.7M+127.9% | $17.4M-57.0% | $40.6M |
| Total Equity | $416.1M+54.9% | $268.6M-28.2% | $374.3M+81.3% | $206.4M+840.9% | $21.9M |
| Retained Earnings | -$636.0M-20.0% | -$530.1M-32.0% | -$401.5M-98.6% | -$202.1M-286.4% | -$52.3M |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
IE 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 | TTM | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | -$106.0M | -$89.2M+45.0% | -$162.1M-7.7% | -$150.5M-30.1% | -$115.7M-142.0% | -$47.8M |
| Capital Expenditures | $769K | $1.2M-58.9% | $2.9M+85.7% | $1.6M-81.4% | $8.5M+113.1% | $4.0M |
| Free Cash Flow | -$107.0M | -$90.4M+45.2% | -$165.0M-8.5% | -$152.1M-22.4% | -$124.2M-139.7% | -$51.8M |
| Investing Cash Flow | $95.8M | $4.6M+131.7% | -$14.5M+90.4% | -$150.8M-211.6% | -$48.4M-113.8% | -$22.6M |
| Financing Cash Flow | $180.0M | $214.7M+1036.4% | $18.9M-94.8% | $366.5M+44.0% | $254.4M+129.2% | $111.0M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
IE Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| Gross Margin | 65.3%+0.4pp | 64.9%+41.4pp | 23.5%-39.4pp | 62.9%-4.5pp | 67.3% |
| Operating Margin | -3501.0% | -6099.7% | -4622.1% | -1565.9% | -1305.9% |
| Net Margin | -3263.7% | -4433.7% | -5108.3% | -1898.3% | -1472.7% |
| Return on Equity | -25.4%+22.4pp | -47.9%+5.4pp | -53.3%+24.4pp | -77.6%+234.7pp | -312.4% |
| Return on Assets | -21.9%+12.4pp | -34.3%+6.6pp | -40.9%+20.6pp | -61.5%-16.9pp | -44.6% |
| Current Ratio | 3.34+1.3x | 2.07-3.4x | 5.45-3.2x | 8.66+7.2x | 1.44 |
| Debt-to-Equity | 0.14-0.2x | 0.35+0.1x | 0.300.0x | 0.28-5.5x | 5.73 |
| FCF Margin | -2786.8% | -5688.6% | -3896.8% | -1472.0% | -1114.0% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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Where Ivanhoe Electric Inc. Ranks
Frequently Asked Questions
What is Ivanhoe Electric Inc.'s annual revenue?
Ivanhoe Electric Inc. (IE) reported $3.2M in total revenue for fiscal year 2025. This represents a 11.8% 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 Ivanhoe Electric Inc.'s revenue growing?
Ivanhoe Electric Inc. (IE) revenue grew by 11.8% year-over-year, from $2.9M to $3.2M in fiscal year 2025.
Is Ivanhoe Electric Inc. profitable?
No, Ivanhoe Electric Inc. (IE) reported a net income of -$105.9M in fiscal year 2025.
What is Ivanhoe Electric Inc.'s EBITDA?
Ivanhoe Electric Inc. (IE) had EBITDA of -$110.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Ivanhoe Electric Inc.'s gross margin?
Ivanhoe Electric Inc. (IE) had a gross margin of 65.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Ivanhoe Electric Inc.'s return on equity (ROE)?
Ivanhoe Electric Inc. (IE) has a return on equity of -25.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Ivanhoe Electric Inc.'s free cash flow?
Ivanhoe Electric Inc. (IE) recorded an outflow of $90.4M in free cash flow during fiscal year 2025. This represents a 45.2% 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 Ivanhoe Electric Inc.'s operating cash flow?
Ivanhoe Electric Inc. (IE) recorded an outflow of $89.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Ivanhoe Electric Inc.'s total assets?
Ivanhoe Electric Inc. (IE) had $483.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Ivanhoe Electric Inc.'s capital expenditures?
Ivanhoe Electric Inc. (IE) invested $1.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Ivanhoe Electric Inc. spend on research and development?
Ivanhoe Electric Inc. (IE) invested $275K in research and development during fiscal year 2025.
What is Ivanhoe Electric Inc.'s current ratio?
Ivanhoe Electric Inc. (IE) had a current ratio of 3.34 as of fiscal year 2025, which is generally considered healthy.
What is Ivanhoe Electric Inc.'s debt-to-equity ratio?
Ivanhoe Electric Inc. (IE) had a debt-to-equity ratio of 0.14 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ivanhoe Electric Inc.'s return on assets (ROA)?
Ivanhoe Electric Inc. (IE) had a return on assets of -21.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Ivanhoe Electric Inc.'s cash runway?
Based on fiscal year 2025 data, Ivanhoe Electric Inc. (IE) had $173.3M in cash against an annual operating cash burn of $89.2M. This gives an estimated cash runway of approximately 23 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 Ivanhoe Electric Inc.'s Altman Z-Score?
Ivanhoe Electric Inc. (IE) has an Altman Z-Score of 16.80, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Ivanhoe Electric Inc.'s Piotroski F-Score?
Ivanhoe Electric Inc. (IE) has a Piotroski F-Score of 4 out of 8 computable signals; 1 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 Ivanhoe Electric Inc.'s earnings high quality?
Ivanhoe Electric Inc. (IE) reported a net loss of $105.9M while operations used $89.2M 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 Ivanhoe Electric Inc. cover its interest payments?
Ivanhoe Electric Inc. (IE) reported an operating loss of $113.6M against $2.8M 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.
How financially healthy is Ivanhoe Electric Inc.?
Ivanhoe Electric Inc. (IE) scores 50 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.