Terrestrial Energy Inc Financials
This page shows Terrestrial Energy Inc (IMSR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 2 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).
A development-stage balance-sheet reset turned Terrestrial Energy from cash-constrained R&D spending into an equity-funded buildout.
FY2025's financing inflow of$311.4M and a share count that more than doubled show the asset surge was equity-funded, not generated by operations. That matters because operating cash burn was$16.5M while cash reached$97.2M , so near-term pressure shifted from finding cash to deploying a much larger capital pool, even as reported losses widened.
Equity flipped from
FY2025's asset build was not mainly physical expansion: investing cash outflow was
Financial Health Signals
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 Terrestrial Energy 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.
Terrestrial Energy Inc carries a low D/E ratio of 0.03, meaning only $0.03 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.
With a current ratio of 50.62, Terrestrial Energy Inc holds $50.62 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Terrestrial Energy Inc generates a -9.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100.
Terrestrial Energy Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.
For every $1 of reported earnings, Terrestrial Energy Inc generates $0.59 in operating cash flow (-$16.5M OCF vs -$28.0M 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
Terrestrial Energy Inc's EBITDA was -$24.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 164.2% from the prior year.
Terrestrial Energy Inc reported -$28.0M in net income in fiscal year 2025. This represents a decrease of 143.9% from the prior year.
Terrestrial Energy Inc earned $-0.39 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 105.3% from the prior year.
Cash & Balance Sheet
Terrestrial Energy Inc generated -$17.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 98.9% from the prior year.
Terrestrial Energy Inc held $97.2M in cash against $0 in long-term debt as of fiscal year 2025.
Terrestrial Energy Inc had 82M shares outstanding in fiscal year 2025. This represents an increase of 108.8% from the prior year.
Margins & Returns
Terrestrial Energy Inc's ROE was -9.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Capital Allocation
Terrestrial Energy Inc invested $9.8M in research and development in fiscal year 2025. This represents an increase of 88.7% from the prior year.
Terrestrial Energy Inc invested $1.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 73.6% from the prior year.
IMSR Income Statement
| Metric | 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 |
| Cost of Revenue | 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 |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | $1.6M+10.0% | $1.5M+35.0% | $1.1M | N/A | $278K+428.8% | $53K |
| Operating Income | N/A | -$1.6M-10.0% | -$1.5M-35.0% | -$1.1M | N/A | -$278K-428.8% | -$53K |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | N/A | $1.9M+220.8% | $601K-12.9% | $690K | N/A | $1.1M+2134.1% | -$53K |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | $-0.02 |
IMSR Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|
| Total Assets | $303.0M+24.6% | $243.1M+1.1% | $240.4M+0.9% | $238.4M+4370.9% | $5.3M-97.7% | $233.6M+61802.6% | $377K |
| Current Assets | $299.6M+64788.0% | $462K+59.3% | $290K-57.6% | $683K-79.3% | $3.3M+223.5% | $1.0M+20250.1% | $5K |
| Cash & Equivalents | $97.2M+27630.4% | $350K+182.4% | $124K-76.0% | $517K-82.9% | $3.0M+266.2% | $825K | N/A |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | 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 |
| Total Liabilities | $7.6M-97.1% | $257.6M+1.3% | $254.4M+1.6% | $250.4M+1501.6% | $15.6M-93.6% | $243.6M+60044.1% | $405K |
| Current Liabilities | $5.9M+38.3% | $4.3M+72.8% | $2.5M+76.6% | $1.4M+27.0% | $1.1M+194.5% | $375K-7.4% | $405K |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $295.4M+2132.2% | -$14.5M-4.2% | -$14.0M-15.5% | -$12.1M-17.2% | -$10.3M-3.0% | -$10.0M-36057.2% | -$28K |
| Retained Earnings | -$124.6M-757.3% | -$14.5M-4.2% | -$14.0M-15.5% | -$12.1M+87.5% | -$96.6M-865.8% | -$10.0M-18893.9% | -$53K |
IMSR Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$15.4M-2913.0% | -$512K-30.2% | -$393K-160.4% | -$151K-418.6% | -$29K | N/A | N/A |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | N/A | $0 | N/A | N/A |
| Financing Cash Flow | $310.7M | N/A | N/A | N/A | -$128K | N/A | N/A |
| Dividends Paid | N/A | $0 | 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 |
IMSR Financial Ratios
| Metric | 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 |
| Operating Margin | 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 |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | N/A | 0.8%+0.5pp | 0.3%-0.0pp | 0.3% | N/A | 0.5%+14.4pp | -14.0% |
| Current Ratio | 50.62+50.5 | 0.110.0 | 0.12-0.4 | 0.49-2.5 | 2.98+0.3 | 2.71+2.7 | 0.01 |
| Debt-to-Equity | 0.03+17.7 | -17.72+0.5 | -18.23+2.5 | -20.73-19.2 | -1.52+22.8 | -24.35-9.7 | -14.64 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Frequently Asked Questions
Is Terrestrial Energy Inc profitable?
No, Terrestrial Energy Inc (IMSR) reported a net income of -$28.0M in fiscal year 2025.
What is Terrestrial Energy Inc's EBITDA?
Terrestrial Energy Inc (IMSR) had EBITDA of -$24.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Terrestrial Energy Inc's return on equity (ROE)?
Terrestrial Energy Inc (IMSR) has a return on equity of -9.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Terrestrial Energy Inc's free cash flow?
Terrestrial Energy Inc (IMSR) generated -$17.5M in free cash flow during fiscal year 2025. This represents a -98.9% 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 Terrestrial Energy Inc's operating cash flow?
Terrestrial Energy Inc (IMSR) generated -$16.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Terrestrial Energy Inc's total assets?
Terrestrial Energy Inc (IMSR) had $303.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Terrestrial Energy Inc's capital expenditures?
Terrestrial Energy Inc (IMSR) invested $1.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Terrestrial Energy Inc spend on research and development?
Terrestrial Energy Inc (IMSR) invested $9.8M in research and development during fiscal year 2025.
What is Terrestrial Energy Inc's current ratio?
Terrestrial Energy Inc (IMSR) had a current ratio of 50.62 as of fiscal year 2025, which is generally considered healthy.
What is Terrestrial Energy Inc's debt-to-equity ratio?
Terrestrial Energy Inc (IMSR) had a debt-to-equity ratio of 0.03 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Terrestrial Energy Inc's return on assets (ROA)?
Terrestrial Energy Inc (IMSR) had a return on assets of -9.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Terrestrial Energy Inc's cash runway?
Based on fiscal year 2025 data, Terrestrial Energy Inc (IMSR) had $97.2M in cash against an annual operating cash burn of $16.5M. This gives an estimated cash runway of approximately 71 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 Terrestrial Energy Inc's Piotroski F-Score?
Terrestrial Energy Inc (IMSR) 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 Terrestrial Energy Inc's earnings high quality?
Terrestrial Energy Inc (IMSR) has an earnings quality ratio of 0.59x, 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 Terrestrial Energy Inc?
Terrestrial Energy Inc (IMSR) 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.