Tmc The Metals Company Inc Financials
This page shows Tmc The Metals Company Inc (TMC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).
Pre-revenue operations are being sustained by repeated external financing, with FY2025 cash rebuilt despite another full year of losses.
From FY2024 to FY2025, operating cash burn was essentially flat at-$43.5M and-$42.9M . Yet net loss widened sharply over the same span, suggesting the FY2025 earnings hit came largely from accounting items outside current cash spending rather than a sudden increase in the day-to-day cash cost of operations.
FY2024 showed a near-term squeeze, with current assets of
In FY2025, free cash flow of
Financial Health Signals
Tmc The Metals Company Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Tmc The Metals Company Inc passes 2 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.
Tmc The Metals Company Inc reported a net loss of $319.8M while operations used $42.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Tmc The Metals Company Inc reported an operating loss of $140.1M 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
Tmc The Metals Company Inc reported -$319.8M in net income in fiscal year 2025. This represents a decrease of 290.3% from the prior year.
Tmc The Metals Company Inc earned $0.83 per diluted share (EPS) in fiscal year 2025. This represents an increase of 232.0% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Tmc The Metals Company Inc recorded an outflow of $43.1M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 2.0% from the prior year.
Tmc The Metals Company Inc held $117.6M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
None of these metrics is reported for fiscal year 2025.
Capital Allocation
Tmc The Metals Company Inc invested $245K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 52.4% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
TMC 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 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|---|
| SG&A Expenses | N/A | $99.8M+225.6% | $30.6M+36.0% | $22.5M-23.6% | $29.5M-47.8% | $56.6M+632.7% | $7.7M | N/A |
| Operating Income | N/A | -$140.1M-72.3% | -$81.3M-12.3% | -$72.4M+58.4% | -$174.1M-16.4% | -$149.6M-164.3% | -$56.6M | N/A |
| Interest Expense | N/A | $2.8M+571.4% | $416K-67.9% | $1.3M+16.7% | $1.1M+210.8% | -$1.0M-1992.5% | $53K | N/A |
| Income Tax | N/A | $144K+200.0% | $48K+17.1% | $41K-46.8% | $77K | N/A | N/A | N/A |
| Net Income | N/A | -$319.8M-290.3% | -$81.9M-11.1% | -$73.8M+56.8% | -$171.0M-21.0% | -$141.3M-149.5% | -$56.6M-626418.4% | -$9K |
| EPS (Diluted) | — | $0.83+232.0% | $0.25-3.8% | $0.26-63.4% | $0.71+2.9% | $0.69+115.6% | $0.32 | N/A |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses.
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.
TMC 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 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Total Assets | $181.6M+188.3% | $63.0M-8.6% | $68.9M-27.3% | $94.8M-28.8% | $133.1M+143.4% | $54.7M+45615.2% | $120K |
| Current Assets | $120.7M+2163.8% | $5.3M-39.6% | $8.8M-82.2% | $49.6M-44.0% | $88.6M+766.1% | $10.2M+63962.4% | $16K |
| Cash & Equivalents | $117.6M+3280.3% | $3.5M-49.1% | $6.8M-85.4% | $46.9M-44.8% | $84.9M+740.7% | $10.1M | N/A |
| Total Liabilities | $215.1M+168.5% | $80.1M+38.2% | $58.0M+8.8% | $53.3M+31.9% | $40.4M+119.1% | $18.4M+17680.2% | $104K |
| Current Liabilities | $59.4M+8.9% | $54.5M+74.0% | $31.3M-24.7% | $41.6M+56.6% | $26.6M+242.6% | $7.8M+7382.2% | $104K |
| Total Equity | -$33.4M-95.4% | -$17.1M-256.8% | $10.9M-73.7% | $41.5M-55.3% | $92.8M+155.8% | $36.3M+227041.2% | $16K |
| Retained Earnings | -$951.3M-50.7% | -$631.4M-15.0% | -$548.9M-15.5% | -$475.1M-56.2% | -$304.2M-86.8% | -$162.9M-1801625.9% | -$9K |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
TMC 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 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$43.6M | -$42.9M+1.4% | -$43.5M+27.0% | -$59.6M+10.6% | -$66.6M-18.7% | -$56.1M-111.4% | -$26.5M | N/A |
| Capital Expenditures | $193K | $245K-52.4% | $515K-10.9% | $578K | N/A | N/A | N/A | N/A |
| Free Cash Flow | -$43.8M | -$43.1M+2.0% | -$44.0M+26.9% | -$60.2M | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$695K | $447K+186.8% | -$515K+10.9% | -$578K+50.6% | -$1.2M+69.6% | -$3.8M-532.9% | -$607K | N/A |
| Financing Cash Flow | $27.3M | $156.6M+284.9% | $40.7M+102.8% | $20.1M-32.5% | $29.7M-77.9% | $134.7M+532.6% | $21.3M | N/A |
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.
TMC Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Return on Equity | N/A | N/A | -675.8%-263.9pp | -411.9%-259.6pp | -152.3%+3.9pp | -156.2%-99.6pp | -56.6% |
| Return on Assets | -176.1%-46.0pp | -130.1%-23.0pp | -107.1%+73.3pp | -180.4%-74.3pp | -106.1%-2.6pp | -103.6%-96.0pp | -7.6% |
| Current Ratio | 2.03+1.9x | 0.10-0.2x | 0.28-0.9x | 1.19-2.1x | 3.33+2.0x | 1.32+1.2x | 0.15 |
| Debt-to-Equity | N/A | N/A | 5.31+4.0x | 1.28+0.8x | 0.44-0.1x | 0.51-6.0x | 6.49 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$33.4M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Where Tmc The Metals Company Inc Ranks
Frequently Asked Questions
Is Tmc The Metals Company Inc profitable?
No, Tmc The Metals Company Inc (TMC) reported a net income of -$319.8M in fiscal year 2025.
What is Tmc The Metals Company Inc's free cash flow?
Tmc The Metals Company Inc (TMC) recorded an outflow of $43.1M in free cash flow during fiscal year 2025. This represents a 2.0% 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 Tmc The Metals Company Inc's operating cash flow?
Tmc The Metals Company Inc (TMC) recorded an outflow of $42.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Tmc The Metals Company Inc's total assets?
Tmc The Metals Company Inc (TMC) had $181.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Tmc The Metals Company Inc's capital expenditures?
Tmc The Metals Company Inc (TMC) invested $245K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Tmc The Metals Company Inc's current ratio?
Tmc The Metals Company Inc (TMC) had a current ratio of 2.03 as of fiscal year 2025, which is generally considered healthy.
What is Tmc The Metals Company Inc's return on assets (ROA)?
Tmc The Metals Company Inc (TMC) had a return on assets of -176.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Tmc The Metals Company Inc's cash runway?
Based on fiscal year 2025 data, Tmc The Metals Company Inc (TMC) had $117.6M in cash against an annual operating cash burn of $42.9M. This gives an estimated cash runway of approximately 33 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.
Why is Tmc The Metals Company Inc's debt-to-equity ratio negative or not reported?
Tmc The Metals Company Inc (TMC) has negative shareholder equity of -$33.4M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Tmc The Metals Company Inc's Piotroski F-Score?
Tmc The Metals Company Inc (TMC) has a Piotroski F-Score of 2 out of 6 computable signals; 3 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 Tmc The Metals Company Inc's earnings high quality?
Tmc The Metals Company Inc (TMC) reported a net loss of $319.8M while operations used $42.9M 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 Tmc The Metals Company Inc cover its interest payments?
Tmc The Metals Company Inc (TMC) reported an operating loss of $140.1M 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.