Thunder Mountain Financials
This page shows Thunder Mountain (THMG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).
Fresh equity financing restored liquidity in FY2025, but operating cash burn still defines how this business functions.
FY2025’s healthier liquidity was funded, not earned: cash rose to$2.6M and financing added$3.8M , which more than explains the balance-sheet rebound. Operating cash flow still consumed$1.6M , so the return to positive equity reflects external capital support rather than a business that is yet paying for itself.
From FY2023 through FY2024, negative equity combined with a sub-0.5x current ratio meant liabilities were outweighing the near-term resource base, leaving little room to absorb continued losses internally. FY2025 reversed that with positive equity and a 1.9x current ratio, easing immediate balance-sheet strain even though the core operation still used cash.
Expense intensity stepped up sharply in FY2025: SG&A rose to
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 Thunder Mountain'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.
Thunder Mountain carries a low D/E ratio of 0.12, meaning only $0.12 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.
Thunder Mountain's current ratio of 1.86 indicates adequate short-term liquidity, earning a score of 33/100. The company can meet its near-term obligations, though with limited headroom.
Thunder Mountain generates a -199.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100.
Thunder Mountain passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.
For every $1 of reported earnings, Thunder Mountain generates $0.57 in operating cash flow (-$1.6M OCF vs -$2.8M 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
Thunder Mountain reported -$2.8M in net income in fiscal year 2025. This represents a decrease of 348.4% from the prior year.
Thunder Mountain earned $-0.03 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 200.0% from the prior year.
Cash & Balance Sheet
Thunder Mountain held $2.6M in cash against $168K in long-term debt as of fiscal year 2025.
Thunder Mountain had 93M shares outstanding in fiscal year 2025. This represents an increase of 27.3% from the prior year.
Margins & Returns
Thunder Mountain's ROE was -199.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Capital Allocation
THMG Income Statement
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $332K | N/A | $108K-81.7% | $591K+37.9% | $428K | N/A | $61K-25.7% | $82K |
| Operating Income | -$595K | N/A | -$482K+46.4% | -$899K-66.1% | -$541K | N/A | -$115K-0.5% | -$115K |
| Interest Expense | N/A | 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 | N/A |
| Net Income | -$591K | N/A | -$481K+46.5% | -$899K-66.4% | -$540K | N/A | -$115K-0.9% | -$114K |
| EPS (Diluted) | $-0.01 | N/A | $-0.010.0% | $-0.010.0% | $-0.01 | N/A | $0.00 | $0.00 |
THMG Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.7M-16.9% | $3.3M+61.4% | $2.0M+35.4% | $1.5M+106.8% | $728K-25.8% | $981K+83.3% | $536K-16.8% | $644K |
| Current Assets | $1.9M-28.4% | $2.7M+58.1% | $1.7M+45.5% | $1.2M+196.5% | $396K-38.9% | $647K+229.8% | $196K-34.5% | $299K |
| Cash & Equivalents | $1.8M-30.1% | $2.6M+55.6% | $1.7M+57.0% | $1.1M+191.7% | $364K-24.4% | $481K+240.1% | $142K-42.8% | $247K |
| 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 | $1.6M-5.3% | $1.7M+22.1% | $1.4M+1.0% | $1.4M-9.1% | $1.5M+9.4% | $1.4M-9.5% | $1.5M+0.4% | $1.5M |
| Current Liabilities | $1.4M-6.2% | $1.5M+10.3% | $1.3M+1.1% | $1.3M+2.5% | $1.3M-3.0% | $1.3M+1.8% | $1.3M+0.5% | $1.3M |
| Long-Term Debt | $168K0.0% | $168K | N/A | N/A | N/A | $0 | N/A | N/A |
| Total Equity | $952K-32.8% | $1.4M+199.6% | $473K+1117.0% | -$46K+94.1% | -$793K-37.1% | -$578K+42.2% | -$1.0M-12.9% | -$886K |
| Retained Earnings | -$11.2M-5.6% | -$10.6M-9.4% | -$9.7M-5.2% | -$9.2M-10.8% | -$8.3M-6.9% | -$7.8M-2.6% | -$7.6M-1.5% | -$7.5M |
THMG Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$608K-31.1% | -$464K-1.9% | -$455K-2.7% | -$443K-78.9% | -$248K-97.8% | -$125K-18.4% | -$106K+2.3% | -$108K |
| 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 | -$211K-283.3% | -$55K | $0 | $0 | $0 | $0 | $0 | $0 |
| Financing Cash Flow | $40K-97.2% | $1.4M+36.3% | $1.1M-7.0% | $1.1M+776.9% | $130K-72.0% | $465K | $0 | $0 |
| 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 |
THMG Financial Ratios
| 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 | -62.1% | N/A | -101.7% | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -21.6% | N/A | -23.6%+36.1pp | -59.7%+14.5pp | -74.2% | N/A | -21.4%-3.8pp | -17.6% |
| Current Ratio | 1.42-0.4 | 1.86+0.6 | 1.30+0.4 | 0.90+0.6 | 0.31-0.2 | 0.49+0.3 | 0.15-0.1 | 0.23 |
| Debt-to-Equity | 0.18+0.1 | 0.12-2.8 | 2.95+32.7 | -29.74-27.8 | -1.92-1.9 | 0.00+1.5 | -1.54+0.2 | -1.73 |
| 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 Thunder Mountain profitable?
No, Thunder Mountain (THMG) reported a net income of -$2.8M in fiscal year 2025.
How much debt does Thunder Mountain have?
As of fiscal year 2025, Thunder Mountain (THMG) had $2.6M in cash and equivalents against $168K in long-term debt.
What is Thunder Mountain's return on equity (ROE)?
Thunder Mountain (THMG) has a return on equity of -199.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Thunder Mountain's operating cash flow?
Thunder Mountain (THMG) generated -$1.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Thunder Mountain's total assets?
Thunder Mountain (THMG) had $3.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Thunder Mountain's current ratio?
Thunder Mountain (THMG) had a current ratio of 1.86 as of fiscal year 2025, which is generally considered healthy.
What is Thunder Mountain's debt-to-equity ratio?
Thunder Mountain (THMG) had a debt-to-equity ratio of 0.12 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Thunder Mountain's return on assets (ROA)?
Thunder Mountain (THMG) had a return on assets of -86.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Thunder Mountain's cash runway?
Based on fiscal year 2025 data, Thunder Mountain (THMG) had $2.6M in cash against an annual operating cash burn of $1.6M. This gives an estimated cash runway of approximately 19 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 Thunder Mountain's Piotroski F-Score?
Thunder Mountain (THMG) has a Piotroski F-Score of 2 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 Thunder Mountain's earnings high quality?
Thunder Mountain (THMG) has an earnings quality ratio of 0.57x, 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 Thunder Mountain?
Thunder Mountain (THMG) scores 22 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.