TRX Gold Corporation (TRX) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 14, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 6-K for Q1 FY2026, filed Jan 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TRX SEC filings page.
TRX Gold Corporation (TRX) reported $70.2M in revenue over the twelve months to Nov 30, 2025, up 58.5% from the prior twelve months. This page shows its 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).
TRX Gold is scaling revenue and margins, but cash generation remains constrained by capital spending and inventory accumulation.
Revenue grew39.9% from FY2024 to FY2025, while operating cash flow rose only6.3% . Net margin nevertheless expanded to11.4% from8.5% , so reported profitability is improving faster than cash conversion; rising inventory and heavy capital spending provide a visible operating explanation.
The latest expansion is capital-intensive: FY2025 operating cash flow was
Inventory more than doubled to
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of TRX Gold Corporation'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.
Not available for TRX Gold Corporation, and counted as zero in the overall score.
TRX Gold Corporation's revenue surged 40.0% year-over-year to $57.6M, reflecting rapid business expansion. This strong growth earns a score of 84/100.
TRX Gold Corporation carries a low D/E ratio of 0.02, meaning only $0.02 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 86/100, indicating a strong balance sheet with room for future borrowing.
TRX Gold Corporation's current ratio of 1.05 is below the typical benchmark, resulting in a score of 21/100. This tight liquidity could limit financial flexibility if cash inflows slow.
TRX Gold Corporation has a free cash flow margin of 6.1%, earning a moderate score of 46/100. The company generates positive cash flow after capital investments, but with room for improvement.
Not available for TRX Gold Corporation, and counted as zero in the overall score.
TRX Gold Corporation passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, TRX Gold Corporation generates $2.48 in operating cash flow ($16.3M OCF vs $6.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
TRX Gold Corporation generated $25.1M in revenue in Q1 2026. This represents an increase of 100.5% from the same quarter a year earlier. Against the prior quarter it is up 6.9%.
TRX Gold Corporation reported -$496K in net income in Q1 2026. This represents a decrease of 123.2% from the same quarter a year earlier. Against the prior quarter it is down 109.4%.
Not reported for Q1 2026.
Not reported for Q1 2026.
Cash & Balance Sheet
TRX Gold Corporation generated $552K in free cash flow in Q1 2026, representing cash available after capex. This represents an increase of 171.3% from the same quarter a year earlier. Against the prior quarter it is down 86.8%.
TRX Gold Corporation held $9.2M in cash against $1.8M in long-term debt as of Q1 2026, with $33.0M of liabilities due within a year.
Not reported for Q1 2026.
Margins & Returns
TRX Gold Corporation's net profit margin was -2.0% in Q1 2026, showing the share of revenue converted to profit. This is down 19.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 24.4 percentage points.
TRX Gold Corporation's ROE was -0.7% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is down 3.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 7.8 percentage points.
Not reported for Q1 2026.
Not reported for Q1 2026.
Capital Allocation
TRX Gold Corporation invested $3.5M in capex in Q1 2026, funding long-term assets and infrastructure. This represents an increase of 9.9% from the same quarter a year earlier. Against the prior quarter it is down 18.7%.
Not reported for Q1 2026.
Not reported for Q1 2026.
TRX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'266-K | Q4'256-K | Q3'256-K | Q2'2510-Q | Q1'256-K | Q4'2440-F | Q3'246-K | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $25.1M+100.5% | $23.5M+72.5% | $12.5M+22.9% | $9.1M+14.1% | $12.5M+33.2% | $13.6M+48.3% | $10.1M+8.9% | $8.0M-20.9% |
| Interest Expense | $21K | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $5.0M+197.0% | N/A | N/A | N/A | $1.7M | N/A | N/A | N/A |
| Net Income | -$496K-123.2% | $5.3M+60.3% | $1.1M+166.7% | -$1.9M-201.0% | $2.1M+5579.5% | $3.3M+42.2% | -$1.7M-342.8% | $1.9M+3942.0% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
TRX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'266-K | Q4'256-K | Q3'256-K | Q2'2510-Q | Q1'256-K | Q4'2440-F | Q3'246-K | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $129.6M+26.2% | $117.3M+18.6% | $112.3M+21.3% | $106.7M+21.0% | $102.6M+17.9% | $98.9M+17.4% | $92.6M+10.0% | $88.2M+11.1% |
| Current Assets | $35.9M+113.0% | $25.8M+45.3% | $21.7M+29.6% | $19.1M+17.9% | $16.8M-2.0% | $17.8M+3.4% | $16.8M+4.7% | $16.2M-7.3% |
| Cash & Equivalents | $9.2M+35.0% | $7.8M-6.7% | $3.6M-53.6% | $6.0M-24.6% | $6.8M-18.5% | $8.3M+9.2% | $7.7M+6.4% | $8.0M-16.2% |
| Inventory | $17.3M+165.2% | $13.0M+108.3% | $11.8M+82.0% | $9.1M+54.1% | $6.5M+20.8% | $6.2M+26.0% | $6.5M+45.2% | $5.9M+35.2% |
| Accounts Receivable | $7.7M+235.3% | $3.8M+6.1% | $2.7M+68.3% | $2.5M+102.4% | $2.3M+11.9% | $3.6M+14.6% | $1.6M-46.9% | $1.2M-45.9% |
| Total Liabilities | $55.1M+60.7% | $43.0M+30.9% | $43.3M+44.2% | $39.2M+61.5% | $34.3M+34.2% | $32.8M+41.8% | $30.1M+15.8% | $24.3M+13.3% |
| Current Liabilities | $33.0M+62.0% | $24.5M+15.3% | $28.1M+28.8% | $24.8M+42.6% | $20.4M+6.5% | $21.3M+19.5% | $21.8M+12.3% | $17.4M+6.3% |
| Non-Current Liabilities | $22.0M+58.8% | $18.4M+59.7% | $15.2M+84.9% | $14.4M+109.2% | $13.9M+117.4% | $11.5M+116.3% | $8.2M+26.5% | $6.9M+35.8% |
| Long-Term Debt | $1.8M-7.0% | $1.6M+70.5% | $1.9M+12606.7% | $2.1M+9714.3% | $2.0M+7125.9% | $942K+2516.7% | $15K-66.7% | $21K-69.1% |
| Total Equity | $74.5M+9.0% | $74.3M+12.5% | $69.0M+10.3% | $67.5M+5.6% | $68.4M+11.1% | $66.0M+8.2% | $62.5M+7.4% | $63.9M+10.3% |
| Retained Earnings | -$125.4M-3.7% | -$121.2M+0.6% | -$123.7M+0.2% | -$123.4M-1.8% | -$120.9M+1.2% | -$121.9M-0.4% | -$123.9M-0.9% | -$121.3M+0.2% |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments, Goodwill.
TRX Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'266-K | Q4'256-K | Q3'256-K | Q2'2510-Q | Q1'256-K | Q4'2440-F | Q3'246-K | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $4.0M+68.8% | $8.5M+40.1% | $3.4M+9.8% | $2.0M+96.7% | $2.4M-53.7% | $6.0M+119.7% | $3.1M-1.2% | $1.0M-78.5% |
| Capital Expenditures | $3.5M+9.9% | $4.3M-17.5% | $3.6M+11.0% | $1.8M+51.8% | $3.2M-14.3% | $5.2M+306.2% | $3.2M-35.4% | $1.2M-72.4% |
| Free Cash Flow | $552K+171.3% | $4.2M+385.5% | -$179K-40.9% | $254K+285.4% | -$774K-153.2% | $863K-41.5% | -$127K+93.2% | -$137K-124.4% |
| Investing Cash Flow | -$4.0M-8.7% | -$3.4M+34.8% | -$5.3M-60.2% | -$1.9M-39.6% | -$3.7M+8.9% | -$5.2M-147.8% | -$3.3M+39.7% | -$1.4M+67.3% |
| Financing Cash Flow | $1.4M+720.0% | -$835K-475.9% | -$533K-592.2% | -$889K-3940.9% | -$225K+40.9% | -$145K+32.9% | -$77K-193.9% | -$22K-120.0% |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Dividends Paid, Share Buybacks.
TRX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'266-K | Q4'256-K | Q3'256-K | Q2'2510-Q | Q1'256-K | Q4'2440-F | Q3'246-K | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Net Margin | -2.0%-19.0pp | 22.4%-1.7pp | 8.9%+25.2pp | -21.3%-45.4pp | 17.1%+17.5pp | 24.1%-1.0pp | -16.3%-12.3pp | 24.1%+24.6pp |
| Return on Equity | -0.7%-3.8pp | 7.1%+2.1pp | 1.6%+4.3pp | -2.9%-5.9pp | 3.1%+3.2pp | 5.0%+1.2pp | -2.6%-2.0pp | 3.0%+3.1pp |
| Return on Assets | -0.4%-2.5pp | 4.5%+1.2pp | 1.0%+2.8pp | -1.8%-4.0pp | 2.1%+2.1pp | 3.3%+0.6pp | -1.8%-1.3pp | 2.2%+2.2pp |
| Current Ratio | 1.09+0.3x | 1.05+0.2x | 0.770.0x | 0.77-0.2x | 0.83-0.1x | 0.84-0.1x | 0.77-0.1x | 0.93-0.1x |
| Debt-to-Equity | 0.020.0x | 0.020.0x | 0.030.0x | 0.030.0x | 0.030.0x | 0.010.0x | 0.000.0x | 0.000.0x |
| Asset Turnover | 0.19+0.1x | 0.20+0.1x | 0.110.0x | 0.090.0x | 0.120.0x | 0.140.0x | 0.110.0x | 0.090.0x |
| FCF Margin | 2.2%+8.4pp | 17.8%+11.5pp | -1.4%-0.2pp | 2.8%+4.5pp | -6.2%-21.7pp | 6.3%-9.7pp | -1.3%+18.7pp | -1.7%-7.3pp |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| TRX Gold Corporation TRX | FY2025 | $57.6M | $6.6M | 11.4% | $321.1M | 40/100 |
| Vista Gold Corp. VGZ | FY2025 | $0 | -$7.5M | N/A | $378.1M | — |
| Hycroft Mining Holding Corporation HYMC | FY2025 | N/A | -$40.7M | N/A | $1.6B | — |
| U.S. Gold Corp. USAU | FY2026 | N/A | -$17.2M | N/A | $220.2M | — |
Where TRX Gold Corporation Ranks
Frequently Asked Questions
What is TRX Gold Corporation's annual revenue?
TRX Gold Corporation (TRX) reported $57.6M in total revenue for fiscal year 2025. This represents a 40.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is TRX Gold Corporation's revenue growing?
TRX Gold Corporation (TRX) revenue grew by 40.0% year-over-year, from $41.2M to $57.6M in fiscal year 2025.
Is TRX Gold Corporation profitable?
Yes, TRX Gold Corporation (TRX) reported a net income of $6.6M in fiscal year 2025, with a net profit margin of 11.4%.
How much debt does TRX Gold Corporation have?
As of fiscal year 2025, TRX Gold Corporation (TRX) had $7.8M in cash and equivalents against $1.6M in long-term debt.
What is TRX Gold Corporation's net profit margin?
TRX Gold Corporation (TRX) had a net profit margin of 11.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is TRX Gold Corporation's return on equity (ROE)?
TRX Gold Corporation (TRX) has a return on equity of 8.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is TRX Gold Corporation's free cash flow?
TRX Gold Corporation (TRX) generated $3.5M in free cash flow during fiscal year 2025. This represents a 69.9% 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 TRX Gold Corporation's operating cash flow?
TRX Gold Corporation (TRX) generated $16.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are TRX Gold Corporation's total assets?
TRX Gold Corporation (TRX) had $117.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are TRX Gold Corporation's capital expenditures?
TRX Gold Corporation (TRX) invested $12.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is TRX Gold Corporation's current ratio?
TRX Gold Corporation (TRX) had a current ratio of 1.05 as of fiscal year 2025, which is considered adequate.
What is TRX Gold Corporation's debt-to-equity ratio?
TRX Gold Corporation (TRX) had a debt-to-equity ratio of 0.02 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is TRX Gold Corporation's return on assets (ROA)?
TRX Gold Corporation (TRX) had a return on assets of 5.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is TRX Gold Corporation's P/E ratio?
TRX Gold Corporation (TRX) trades at 81.6x earnings, its market capitalization divided by net income of $3.9M net income, trailing 12 months to November 30, 2025. The market capitalization is $321.1M as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is TRX Gold Corporation's price-to-sales ratio?
TRX Gold Corporation (TRX) trades at 4.6x sales, its market capitalization divided by revenue of $70.2M revenue, trailing 12 months to November 30, 2025. The market capitalization is $321.1M as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is TRX Gold Corporation's Piotroski F-Score?
TRX Gold Corporation (TRX) has a Piotroski F-Score of 6 out of 8 computable signals; 1 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 TRX Gold Corporation's earnings high quality?
TRX Gold Corporation (TRX) has an earnings quality ratio of 2.48x, considered cash-backed (high quality). 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 TRX Gold Corporation?
TRX Gold Corporation (TRX) scores 40 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.