Trilogy Metals Financials
This page shows Trilogy Metals (TMQ) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Financial Health Signals
Trilogy Metals 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, Trilogy Metals generates $0.08 in operating cash flow (-$3.2M OCF vs -$42.2M 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
Trilogy Metals reported -$42.2M in net income in fiscal year 2025. This represents a decrease of 391.9% from the prior year.
Trilogy Metals earned $-0.26 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 420.0% from the prior year.
Trilogy Metals held $51.6M in cash against $0 in long-term debt as of fiscal year 2025.
Trilogy Metals had 173M shares outstanding in fiscal year 2025. This represents an increase of 5.2% from the prior year.
TMQ Income Statement
| Metric | Q4'25 | Q3'25 | Q4'24 | Q4'23 | Q3'24 | Q4'22 | Q3'23 | Q4'21 |
|---|---|---|---|---|---|---|---|---|
| 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 | N/A | $214K | N/A | N/A | $278K | N/A | $279K | N/A |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 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 | N/A | -$1.7M | N/A | N/A | -$4.1M | N/A | -$9.9M | N/A |
| EPS (Diluted) | N/A | $-0.01 | N/A | N/A | $-0.03 | N/A | $-0.07 | N/A |
TMQ Balance Sheet
| Metric | Q4'25 | Q3'25 | Q4'24 | Q4'23 | Q3'24 | Q4'22 | Q3'23 | Q4'21 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $157.3M+21.8% | $129.1M-3.4% | $133.7M-3.1% | $138.0M-1.8% | $140.6M-3.7% | $146.0M-3.2% | $150.8M-9.9% | $167.3M |
| Current Assets | $51.9M+118.8% | $23.7M-8.9% | $26.0M+803.7% | $2.9M-18.0% | $3.5M+20.8% | $2.9M-19.9% | $3.6M-45.1% | $6.6M |
| Cash & Equivalents | $51.6M+120.8% | $23.4M-9.5% | $25.8M+897.5% | $2.6M-15.1% | $3.0M+18.5% | $2.6M-17.9% | $3.1M-50.3% | $6.3M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $118K+594.1% | $17K+6.3% | $16K-51.5% | $33K+230.0% | $10K-41.2% | $17K+54.5% | $11K-42.1% | $19K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $33.2M+7193.0% | $455K-49.6% | $903K+94.2% | $465K-17.6% | $564K-0.5% | $567K-27.0% | $777K-38.6% | $1.3M |
| Current Liabilities | $33.1M+8777.5% | $373K-53.0% | $793K+70.5% | $465K-17.6% | $564K+5.6% | $534K-22.8% | $692K-32.9% | $1.0M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $124.1M-3.5% | $128.7M-3.1% | $132.8M-3.5% | $137.6M-1.8% | $140.0M-3.7% | $145.4M-3.1% | $150.0M-9.6% | $166.0M |
| Retained Earnings | -$132.6M-35.4% | -$97.9M-8.3% | -$90.4M-10.5% | -$81.8M-3.8% | -$78.8M-17.8% | -$66.9M-8.5% | -$61.6M-44.7% | -$42.6M |
TMQ Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q4'24 | Q4'23 | Q3'24 | Q4'22 | Q3'23 | Q4'21 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$558K+55.9% | -$1.3M-4965.4% | $26K+105.7% | -$459K+58.9% | -$1.1M-96.7% | -$568K-13.6% | -$500K+40.0% | -$834K |
| 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 | N/A | $12.5M | $0 | N/A | N/A | $0 | N/A | $0 |
| Financing Cash Flow | $29.8M+135290.9% | $22K | N/A | $0 | $0 | $0 | $0-100.0% | $307K |
| 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 |
TMQ Financial Ratios
| Metric | Q4'25 | Q3'25 | Q4'24 | Q4'23 | Q3'24 | Q4'22 | Q3'23 | Q4'21 |
|---|---|---|---|---|---|---|---|---|
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | N/A | -1.4% | N/A | N/A | -2.9% | N/A | -6.6% | N/A |
| Current Ratio | 1.57-62.1 | 63.63+30.8 | 32.84+26.6 | 6.20-0.0 | 6.23+0.8 | 5.45+0.2 | 5.25-1.2 | 6.41 |
| Debt-to-Equity | 0.27+0.3 | 0.000.0 | 0.010.0 | 0.000.0 | 0.000.0 | 0.000.0 | 0.010.0 | 0.01 |
| 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 Trilogy Metals profitable?
No, Trilogy Metals (TMQ) reported a net income of -$42.2M in fiscal year 2025.
What is Trilogy Metals's earnings per share (EPS)?
Trilogy Metals (TMQ) reported diluted earnings per share of $-0.26 for fiscal year 2025. This represents a -420.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Trilogy Metals's operating cash flow?
Trilogy Metals (TMQ) generated -$3.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Trilogy Metals's total assets?
Trilogy Metals (TMQ) had $157.3M in total assets as of fiscal year 2025, including both current and long-term assets.
How many shares does Trilogy Metals have outstanding?
Trilogy Metals (TMQ) had 173M shares outstanding as of fiscal year 2025.
What is Trilogy Metals's current ratio?
Trilogy Metals (TMQ) had a current ratio of 1.57 as of fiscal year 2025, which is generally considered healthy.
What is Trilogy Metals's debt-to-equity ratio?
Trilogy Metals (TMQ) had a debt-to-equity ratio of 0.27 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Trilogy Metals's return on assets (ROA)?
Trilogy Metals (TMQ) had a return on assets of -26.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Trilogy Metals's cash runway?
Based on fiscal year 2025 data, Trilogy Metals (TMQ) had $51.6M in cash against an annual operating cash burn of $3.2M. This gives an estimated cash runway of approximately 191 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 Trilogy Metals's Piotroski F-Score?
Trilogy Metals (TMQ) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Trilogy Metals's earnings high quality?
Trilogy Metals (TMQ) has an earnings quality ratio of 0.08x, 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.