Paramount Gold Financials
This page shows Paramount Gold (PZG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 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 financing-dependent balance sheet is funding recurring operating cash burn while dilution and leverage steadily replace internal cash generation.
The clearest through-line is cash burn outrunning each funding round: FY2024 financing inflows of$10.1M rebuilt cash, but the company still used$5.4M in operations that year. That is why the rebound did not change the structure; by FY2025, shares outstanding had climbed to 75.4M from 38.2M in FY2021 while debt-to-equity rose to 0.6x from 0.1x.
Book value is being consumed by losses: equity fell to
Earnings quality is fairly plain: the FY2025 net loss of
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 Paramount Gold'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.
Paramount Gold carries a low D/E ratio of 0.56, meaning only $0.56 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 91/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 4.10, Paramount Gold holds $4.10 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 81/100.
Paramount Gold generates a -27.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -21.1% the prior year.
Paramount Gold passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, Paramount Gold generates $0.69 in operating cash flow (-$6.3M OCF vs -$9.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Paramount Gold earns $-4.1 in operating income for every $1 of interest expense (-$7.0M vs $1.7M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Paramount Gold's EBITDA was -$7.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 18.2% from the prior year.
Paramount Gold reported -$9.1M in net income in fiscal year 2025. This represents a decrease of 12.3% from the prior year.
Paramount Gold earned $-0.13 per diluted share (EPS) in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Cash & Balance Sheet
Paramount Gold held $1.4M in cash against $0 in long-term debt as of fiscal year 2025.
Paramount Gold had 75M shares outstanding in fiscal year 2025. This represents an increase of 16.0% from the prior year.
Margins & Returns
Paramount Gold's ROE was -27.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 5.8 percentage points from the prior year.
Capital Allocation
PZG Income Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $386K+29.8% | $297K+56.7% | $190K | N/A | $237K+32.5% | $179K-5.0% | $188K | N/A |
| Operating Income | -$2.4M-9.8% | -$2.1M-40.8% | -$1.5M | N/A | -$2.2M-80.2% | -$1.2M+13.2% | -$1.4M | N/A |
| Interest Expense | $419K-2.0% | $427K0.0% | $427K | N/A | $419K-2.0% | $427K0.0% | $427K | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$4.9M-10.8% | -$4.4M-2.4% | -$4.3M | N/A | -$2.6M-28.9% | -$2.0M-29.2% | -$1.6M | N/A |
| EPS (Diluted) | $-0.060.0% | $-0.060.0% | $-0.06 | N/A | $-0.04-33.3% | $-0.03-50.0% | $-0.02 | N/A |
PZG Balance Sheet
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $62.9M+16.8% | $53.9M-1.7% | $54.8M+4.6% | $52.4M-0.4% | $52.6M-2.3% | $53.9M-2.0% | $55.0M-2.5% | $56.4M |
| Current Assets | $13.2M+218.5% | $4.2M-19.0% | $5.1M+89.3% | $2.7M-4.8% | $2.8M-32.1% | $4.2M-21.7% | $5.3M-20.7% | $6.7M |
| Cash & Equivalents | $12.7M+259.1% | $3.5M-15.1% | $4.2M+208.4% | $1.4M-36.9% | $2.1M-37.2% | $3.4M-20.7% | $4.3M-20.8% | $5.4M |
| Inventory | N/A | 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 | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $27.6M+8.8% | $25.4M+9.1% | $23.3M+23.5% | $18.8M+1.4% | $18.6M+1.4% | $18.3M+2.3% | $17.9M-1.7% | $18.2M |
| Current Liabilities | $4.9M+18.5% | $4.1M+6.6% | $3.9M+486.3% | $660K-0.2% | $661K+41.3% | $468K-8.1% | $509K-25.5% | $684K |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $35.3M+24.0% | $28.5M-9.7% | $31.5M-6.0% | $33.6M-1.4% | $34.0M-4.2% | $35.5M-4.1% | $37.1M-2.8% | $38.2M |
| Retained Earnings | -$105.1M-4.9% | -$100.2M-4.6% | -$95.8M-4.7% | -$91.4M-3.2% | -$88.6M-3.0% | -$86.0M-2.4% | -$84.0M-1.9% | -$82.4M |
PZG Cash Flow Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.0M-45.6% | -$1.4M-29.3% | -$1.1M+60.0% | -$2.7M-80.1% | -$1.5M-67.7% | -$895K+23.3% | -$1.2M+50.2% | -$2.3M |
| Capital Expenditures | N/A | 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 | N/A |
| Investing Cash Flow | $0 | N/A | N/A | -$2K+97.6% | -$100K-95.8% | -$51K-536.7% | -$8K | $0 |
| Financing Cash Flow | $11.2M+1268.2% | $819K-79.0% | $3.9M+103.2% | $1.9M+471.7% | $335K+479.5% | $58K+24.8% | $46K-93.9% | $755K |
| 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 |
PZG Financial Ratios
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| 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 | -13.9%+1.7pp | -15.5%-1.8pp | -13.7% | N/A | -7.7%-2.0pp | -5.7%-1.5pp | -4.2% | N/A |
| Return on Assets | -7.8%+0.4pp | -8.2%-0.3pp | -7.9% | N/A | -5.0%-1.2pp | -3.8%-0.9pp | -2.9% | N/A |
| Current Ratio | 2.71+1.7 | 1.01-0.3 | 1.32-2.8 | 4.10-0.2 | 4.30-4.6 | 8.94-1.6 | 10.50+0.6 | 9.86 |
| Debt-to-Equity | 0.78-0.1 | 0.89+0.2 | 0.74+0.2 | 0.56+0.0 | 0.55+0.0 | 0.52+0.0 | 0.480.0 | 0.48 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
Is Paramount Gold profitable?
No, Paramount Gold (PZG) reported a net income of -$9.1M in fiscal year 2025.
What is Paramount Gold's EBITDA?
Paramount Gold (PZG) had EBITDA of -$7.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Paramount Gold's return on equity (ROE)?
Paramount Gold (PZG) has a return on equity of -27.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Paramount Gold's operating cash flow?
Paramount Gold (PZG) generated -$6.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Paramount Gold's total assets?
Paramount Gold (PZG) had $52.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Paramount Gold's current ratio?
Paramount Gold (PZG) had a current ratio of 4.10 as of fiscal year 2025, which is generally considered healthy.
What is Paramount Gold's debt-to-equity ratio?
Paramount Gold (PZG) had a debt-to-equity ratio of 0.56 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Paramount Gold's return on assets (ROA)?
Paramount Gold (PZG) had a return on assets of -17.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Paramount Gold's cash runway?
Based on fiscal year 2025 data, Paramount Gold (PZG) had $1.4M in cash against an annual operating cash burn of $6.3M. This gives an estimated cash runway of approximately 3 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 Paramount Gold's Piotroski F-Score?
Paramount Gold (PZG) has a Piotroski F-Score of 1 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 Paramount Gold's earnings high quality?
Paramount Gold (PZG) has an earnings quality ratio of 0.69x, 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 Paramount Gold cover its interest payments?
Paramount Gold (PZG) has an interest coverage ratio of -4.1x, 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 Paramount Gold?
Paramount Gold (PZG) scores 29 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.