What is Westwater Res's earnings per share (EPS)?

Westwater Res (WWR) reported diluted earnings per share of -$0.32 for fiscal year 2025. 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.

Westwater Res Financials

WWR

FY2025 annual

Revenue Not reported for FY2025

Net Income -$27.3M -115.9% YoY

EPS (Diluted) -$0.32 YoY not available

Free Cash Flow -$21.6M -80.5% YoY

Source SEC Filings (10-K/10-Q) Data as of Jun 30, 2026 Currency USD FYE December

This page shows Westwater Res (WWR) 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).

Rhea AI WWR FY2025 2026-08-10

Westwater’s visible mechanic is equity-funded project building: repeated cash burn is financed by share issuance instead of debt-heavy growth.

Cash rebounded to $48.6M in FY2025 even though operating cash flow was still -$9.9M, so the improvement was financial rather than operational. With financing inflow of $65.6M and debt-to-equity at 0.07x, liquidity was restored mainly through new equity capital, not borrowing or internally generated cash.

This reads more like asset construction than a running commercial engine: FY2023 capital spending reached $58.3M while operating cash flow was -$11.4M. That mix means cash use was driven chiefly by building long-lived assets, which helps explain why the balance sheet stayed asset-rich even when operations did not replenish cash.

The sharper issue has been liquidity timing, not balance-sheet leverage: the current ratio moved from 0.4x in FY2024 to 4.2x in FY2025 after financing. Shares outstanding climbed to 118.0M from 55.4M by FY2025, showing the practical tradeoff that low leverage was preserved by issuing more equity.

Financial Health Signals

Financial health score not available

Westwater Res 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.

Piotroski F-Score Partial

2/6

Westwater Res 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.

Earnings Quality No Cash Backing

N/A

Westwater Res reported a net loss of $27.3M while operations used $9.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

Export CSV

Earnings & Revenue

Net Income

-$27.3M

YoY-115.9%

Westwater Res reported -$27.3M in net income in fiscal year 2025. This represents a decrease of 115.9% from the prior year.

EPS (Diluted)

-$0.32

Westwater Res earned -$0.32 per diluted share (EPS) in fiscal year 2025.

Revenue

Not reported for fiscal year 2025.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow

-$21.6M

YoY-80.5%

Westwater Res recorded an outflow of $21.6M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 80.5% from the prior year.

Cash & Debt

$48.6M

YoY+1037.1%

5Y CAGR-0.7%

10Y CAGR+49.6%

Westwater Res held $48.6M in cash as of fiscal year 2025; long-term debt is not reported for that period.

Shares Outstanding

118M

Westwater Res had 118M shares outstanding in fiscal year 2025.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Return on Equity

-15.0%

YoY-5.5pp

5Y CAGR+26.0pp

10Y CAGR+22.4pp

Westwater Res's ROE was -15.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 5.5 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Net Margin

Not reported for fiscal year 2025.

Capital Allocation

R&D Spending

$1.1M

YoY-3.2%

Westwater Res invested $1.1M in research and development in fiscal year 2025. This represents a decrease of 3.2% from the prior year.

Capital Expenditures

$11.7M

YoY+90.2%

5Y CAGR+170.3%

Westwater Res invested $11.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 90.2% from the prior year.

Share Buybacks

Not reported for fiscal year 2025.

WWR Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

WWR annual income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0	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	N/A	N/A	N/A	N/A	N/A	$10.0M+10.9%	$9.0M+232.2%	$2.7M
R&D Expenses	N/A	$1.1M-3.2%	$1.2M-59.9%	$2.9M+156.3%	$1.1M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	$12.4M+24.0%	$10.0M+2.1%	$9.8M-1.2%	$9.9M+11.6%	$8.9M+56.3%	$5.7M+26.9%	$4.5M-36.2%	$7.0M+6.0%	$6.6M-13.5%	$7.7M+2.2%	$7.5M-18.0%	$9.1M-5.9%	$9.7M-6.7%	$10.4M+23.8%	$8.4M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	-$11.2M-78.5%	-$6.3M+82.5%	-$36.0M	N/A	N/A	N/A	N/A	-$19.9M-1.4%	-$19.6M-74.1%	-$11.2M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$291K-60.4%	$735K+19.7%	$614K-78.1%	$2.8M+5.9%	$2.6M+11.7%	$2.4M+480.4%	$408K+701.9%	$51K+168.2%	$19K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0	N/A	N/A
Net Income	N/A	-$27.3M-115.9%	-$12.7M-63.3%	-$7.8M+30.3%	-$11.1M+31.1%	-$16.1M+31.5%	-$23.6M-123.1%	-$10.6M+70.4%	-$35.7M-85.0%	-$19.3M+1.6%	-$19.6M-29.5%	-$15.1M-41.7%	-$10.7M+47.4%	-$20.3M-4.8%	-$19.4M-75.0%	-$11.1M
EPS (Diluted)	—	-$0.32	-$0.22-46.7%	-$0.15+40.0%	-$0.25+49.0%	-$0.49	-$1.58	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
R&D Expenses	$355K-35.5%	$550K	N/A	$370K+34.5%	$275K+51.1%	$182K	N/A	$254K
SG&A Expenses	$3.6M+0.5%	$3.5M	N/A	$3.5M+10.2%	$3.1M+36.6%	$2.3M	N/A	$2.4M
Net Income	-$4.3M+7.7%	-$4.7M	N/A	-$9.8M-154.2%	-$3.9M-44.6%	-$2.7M	N/A	-$3.1M
EPS (Diluted)	-$0.03+25.0%	-$0.04	N/A	-$0.12-140.0%	-$0.05-25.0%	-$0.04	N/A	-$0.05

Not reported in any period shown, so not listed: Gross Profit.

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.

WWR Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

WWR annual balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Total Assets	$194.5M+32.9%	$146.4M-2.3%	$149.8M-11.0%	$168.4M+26.6%	$133.0M+114.7%	$61.9M+129.6%	$27.0M-9.9%	$30.0M-40.4%	$50.2M-11.7%	$56.9M-0.1%	$57.0M+32.2%	$43.1M+17.6%	$36.7M-26.1%	$49.6M+89.6%	$26.2M
Current Assets	$48.9M+904.9%	$4.9M-58.1%	$11.6M-84.7%	$76.1M-34.2%	$115.6M+119.8%	$52.6M+2127.4%	$2.4M-43.5%	$4.2M-46.6%	$7.8M+100.3%	$3.9M+95.1%	$2.0M-68.8%	$6.4M+256.8%	$1.8M-66.4%	$5.4M+69.0%	$3.2M
Cash & Equivalents	$48.6M+1037.1%	$4.3M-60.6%	$10.9M-85.6%	$75.2M-34.8%	$115.3M+129.1%	$50.3M+2590.6%	$1.9M+18.6%	$1.6M-61.1%	$4.1M+22.5%	$3.3M+282.5%	$865K-84.5%	$5.6M+398.7%	$1.1M-76.1%	$4.7M+61.4%	$2.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$277K+124.4%	$123K
Total Liabilities	$13.0M-1.7%	$13.2M+41.0%	$9.4M-64.5%	$26.4M+289.7%	$6.8M+51.9%	$4.5M-55.0%	$9.9M+8.2%	$9.2M+0.5%	$9.1M-34.2%	$13.9M-15.9%	$16.5M+37.8%	$12.0M+4.9%	$11.4M-15.1%	$13.4M+68.1%	$8.0M
Current Liabilities	$11.6M-1.2%	$11.8M+51.3%	$7.8M-69.0%	$25.1M+370.7%	$5.3M+25.2%	$4.3M+2.0%	$4.2M+31.4%	$3.2M-20.1%	$4.0M-51.3%	$8.1M-25.2%	$10.9M+307.6%	$2.7M-11.8%	$3.0M-66.8%	$9.1M+162.3%	$3.5M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$3.0M+216.3%	$950K+111.1%	$450K
Total Equity	$181.5M+36.4%	$133.1M-5.2%	$140.4M-1.1%	$142.0M+12.5%	$126.2M+119.6%	$57.5M+236.8%	$17.1M-17.9%	$20.8M-49.4%	$41.1M-4.5%	$43.0M+6.3%	$40.5M+30.0%	$31.1M+23.3%	$25.2M-30.2%	$36.2M+99.0%	$18.2M
Retained Earnings	-$401.0M-7.3%	-$373.7M-3.5%	-$361.0M-2.2%	-$353.3M-3.3%	-$342.2M-5.0%	-$326.0M-7.8%	-$302.4M-3.6%	-$291.9M-13.9%	-$256.2M-8.1%	-$236.9M-9.0%	-$217.3M-7.5%	-$202.2M-5.6%	-$191.5M-11.9%	-$171.2M-12.8%	-$151.8M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$186.0M-1.7%	$189.1M-2.8%	$194.5M+23.3%	$157.7M+4.8%	$150.5M+2.1%	$147.4M+0.7%	$146.4M+2.0%	$143.5M
Current Assets	$38.8M-8.3%	$42.3M-13.3%	$48.9M+264.5%	$13.4M+83.1%	$7.3M+76.1%	$4.2M-14.5%	$4.9M-14.2%	$5.7M
Cash & Equivalents	$38.2M-7.9%	$41.5M-14.6%	$48.6M+276.4%	$12.9M+92.5%	$6.7M+105.5%	$3.3M-23.6%	$4.3M-6.0%	$4.5M
Total Liabilities	$8.9M-14.4%	$10.4M-19.7%	$13.0M-34.0%	$19.7M+25.3%	$15.7M+25.2%	$12.6M-5.1%	$13.2M+20.8%	$11.0M
Current Liabilities	$7.6M-16.5%	$9.1M-22.1%	$11.6M-36.6%	$18.3M+27.9%	$14.3M+28.8%	$11.1M-5.4%	$11.8M+24.5%	$9.4M
Total Equity	$177.0M-0.9%	$178.7M-1.6%	$181.5M+31.5%	$138.0M+2.4%	$134.8M-0.1%	$134.9M+1.3%	$133.1M+0.4%	$132.5M
Retained Earnings	-$410.0M-1.1%	-$405.7M-1.2%	-$401.0M-2.8%	-$390.1M-2.6%	-$380.2M-1.0%	-$376.4M-0.7%	-$373.7M-0.8%	-$370.9M

Not reported in any period shown, so not listed: Goodwill.

WWR Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

WWR annual cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	-$11.8M	-$9.9M-70.2%	-$5.8M+49.1%	-$11.4M+13.3%	-$13.2M+22.1%	-$16.9M-11.4%	-$15.2M-51.1%	-$10.0M+13.7%	-$11.6M-0.4%	-$11.6M+5.7%	-$12.3M-2.4%	-$12.0M-0.1%	-$12.0M+21.7%	-$15.3M+17.5%	-$18.6M-81.2%	-$10.3M
Capital Expenditures	$8.9M	$11.7M+90.2%	$6.1M-89.5%	$58.3M+10.4%	$52.8M+1474.4%	$3.4M+4039.5%	$81K	N/A	N/A	$100K+284.6%	$26K	N/A	N/A	$174K-86.4%	$1.3M+180.5%	$456K
Free Cash Flow	-$20.7M	-$21.6M-80.5%	-$12.0M+82.8%	-$69.7M-5.7%	-$66.0M-225.5%	-$20.3M-32.8%	-$15.3M	N/A	N/A	-$11.7M+5.1%	-$12.3M	N/A	N/A	-$15.5M+22.0%	-$19.9M-85.4%	-$10.7M
Investing Cash Flow	-$8.9M	-$11.4M-146.5%	-$4.6M+92.0%	-$58.3M-10.4%	-$52.8M-2404.3%	-$2.1M+48.6%	-$4.1M-209.3%	$3.8M+615.4%	$525K-48.4%	$1.0M+360.6%	$221K-79.0%	$1.1M+2160.8%	-$51K	N/A	N/A	N/A
Financing Cash Flow	$52.2M	$65.6M+1595.0%	$3.9M-28.0%	$5.4M-79.2%	$25.9M-69.2%	$84.0M+31.4%	$63.9M+861.4%	$6.7M-23.6%	$8.7M-21.1%	$11.0M-23.7%	$14.5M+131.0%	$6.3M-62.1%	$16.5M	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$249K	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	-$2.5M+38.0%	-$4.0M-105.8%	-$2.0M+39.8%	-$3.3M-38.0%	-$2.4M-2.3%	-$2.3M-12.5%	-$2.1M-244.5%	$1.4M
Capital Expenditures	$729K-53.1%	$1.6M-71.5%	$5.4M+360.1%	$1.2M-44.3%	$2.1M-27.5%	$2.9M+164.1%	$1.1M+4.3%	$1.1M
Free Cash Flow	-$3.2M+42.2%	-$5.6M+24.5%	-$7.4M-66.8%	-$4.4M+1.0%	-$4.5M+14.4%	-$5.2M-65.7%	-$3.2M-986.3%	$357K
Investing Cash Flow	-$729K+53.1%	-$1.6M+71.5%	-$5.4M-360.1%	-$1.2M+36.6%	-$1.9M+36.3%	-$2.9M-166.1%	-$1.1M-251.0%	-$314K
Financing Cash Flow	-$24K+98.4%	-$1.5M-103.5%	$43.1M+304.6%	$10.6M+38.8%	$7.7M+81.3%	$4.2M+46.8%	$2.9M+952.2%	$274K

Not reported in any period shown, so not listed: Dividends Paid.

WWR Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

WWR annual financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Return on Equity	-15.0%-5.5pp	-9.5%-4.0pp	-5.5%+2.3pp	-7.8%+5.0pp	-12.8%+28.2pp	-41.0%+20.9pp	-61.9%+109.7pp	-171.6%-124.7pp	-46.9%-1.4pp	-45.5%-8.1pp	-37.4%-3.1pp	-34.3%+46.1pp	-80.4%-26.9pp	-53.5%+7.4pp	-60.9%
Return on Assets	-14.1%-5.4pp	-8.6%-3.5pp	-5.2%+1.4pp	-6.6%+5.5pp	-12.1%+25.9pp	-38.1%+1.1pp	-39.2%+80.0pp	-119.1%-80.7pp	-38.4%-3.9pp	-34.4%-7.9pp	-26.6%-1.8pp	-24.8%+30.6pp	-55.4%-16.3pp	-39.0%+3.3pp	-42.3%
Current Ratio	4.21+3.8x	0.41-1.1x	1.49-1.5x	3.04-18.7x	21.72+9.3x	12.37+11.8x	0.57-0.8x	1.32-0.7x	1.97+1.5x	0.48+0.3x	0.18-2.2x	2.41+1.8x	0.600.0x	0.59-0.3x	0.91
Debt-to-Equity	0.070.0x	0.100.0x	0.07-0.1x	0.19+0.1x	0.050.0x	0.08-0.5x	0.58+0.1x	0.44+0.2x	0.22-0.1x	0.32-0.1x	0.410.0x	0.38+0.3x	0.12+0.1x	0.030.0x	0.02

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Return on Equity	-2.4%+0.2pp	-2.6%	N/A	-7.1%-4.3pp	-2.9%-0.9pp	-2.0%	N/A	-2.4%
Return on Assets	-2.3%+0.2pp	-2.5%	N/A	-6.2%-3.7pp	-2.6%-0.8pp	-1.8%	N/A	-2.2%
Current Ratio	5.14+0.5x	4.68+0.5x	4.21+3.5x	0.73+0.2x	0.51+0.1x	0.370.0x	0.41-0.2x	0.60
Debt-to-Equity	0.050.0x	0.060.0x	0.07-0.1x	0.140.0x	0.120.0x	0.090.0x	0.100.0x	0.08

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.

Similar Companies

Odyssey Marine Expl Inc OMEX

$54.3M

NOVA MINERALS LTD NVA

$193.2M

Solitario Resources Corp XPL

$75.7M

Largo Inc LGO

$76.7M

Atlas Lithium ATLX

$99.9M

Where Westwater Res Ranks

Frequently Asked Questions

Is Westwater Res profitable?

No, Westwater Res (WWR) reported a net income of -$27.3M in fiscal year 2025.

What is Westwater Res's return on equity (ROE)?

Westwater Res (WWR) has a return on equity of -15.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Westwater Res's free cash flow?

Westwater Res (WWR) recorded an outflow of $21.6M in free cash flow during fiscal year 2025. This represents a -80.5% 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 Westwater Res's operating cash flow?

Westwater Res (WWR) recorded an outflow of $9.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Westwater Res's total assets?

Westwater Res (WWR) had $194.5M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Westwater Res's capital expenditures?

Westwater Res (WWR) invested $11.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Westwater Res spend on research and development?

Westwater Res (WWR) invested $1.1M in research and development during fiscal year 2025.

How many shares does Westwater Res have outstanding?

Westwater Res (WWR) had 118M shares outstanding as of fiscal year 2025.

What is Westwater Res's current ratio?

Westwater Res (WWR) had a current ratio of 4.21 as of fiscal year 2025, which is generally considered healthy.

What is Westwater Res's debt-to-equity ratio?

Westwater Res (WWR) had a debt-to-equity ratio of 0.07 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Westwater Res's return on assets (ROA)?

Westwater Res (WWR) had a return on assets of -14.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Westwater Res's cash runway?

Based on fiscal year 2025 data, Westwater Res (WWR) had $48.6M in cash against an annual operating cash burn of $9.9M. This gives an estimated cash runway of approximately 59 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 Westwater Res's Piotroski F-Score?

Westwater Res (WWR) 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 Westwater Res's earnings high quality?

Westwater Res (WWR) reported a net loss of $27.3M while operations used $9.9M 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.