Solitario Resources Corp Financials

XPL

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Weak

2/9

Solitario Resources Corp passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.95x

For every $1 of reported earnings, Solitario Resources Corp generates $0.95 in operating cash flow (-$5.1M OCF vs -$5.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

This page shows Solitario Resources Corp (XPL) 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).

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Key Financial Metrics

Revenue

N/A

EBITDA

N/A

Free Cash Flow

N/A

Net Income

-$5.4M

YoY-43.0%

Solitario Resources Corp reported -$5.4M in net income in fiscal year 2024. This represents a decrease of 43.0% from the prior year.

EPS (Diluted)

N/A

Cash & Debt

$81K

YoY-59.5%

5Y CAGR-32.4%

10Y CAGR-16.4%

Solitario Resources Corp held $81K in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

82M

YoY+2.6%

5Y CAGR+7.0%

10Y CAGR+7.6%

Solitario Resources Corp had 82M shares outstanding in fiscal year 2024. This represents an increase of 2.6% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

XPL Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	N/A	N/A	N/A	N/A	$0-100.0%	$408K
Cost of Revenue	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
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$1.9M+9.8%	$1.7M+25.9%	$1.4M+42.9%	$952K-8.8%	$1.0M-23.7%	$1.4M
Operating Income	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
Income Tax	$0	$0	$0	$0	$0	$0
Net Income	-$5.4M-43.0%	-$3.8M+4.4%	-$3.9M-65.9%	-$2.4M-152.1%	-$939K+71.5%	-$3.3M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q4'21	Q3'21
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	$379K-1.0%	$383K	N/A	$282K	N/A	$435K	N/A	$207K
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	-$1.9M+17.8%	-$2.3M	N/A	-$1.3M	N/A	-$1.1M	N/A	-$701K
EPS (Diluted)	$-0.02+33.3%	$-0.03	N/A	N/A	N/A	N/A	N/A	N/A

XPL Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$23.0M-13.9%	$26.8M+21.4%	$22.0M-6.7%	$23.6M-0.8%	$23.8M	N/A
Current Assets	$6.0M-39.7%	$9.9M+89.2%	$5.3M-26.6%	$7.2M-11.1%	$8.0M-8.1%	$8.8M
Cash & Equivalents	$81K-59.5%	$200K-36.7%	$316K-31.6%	$462K-23.6%	$605K+5.4%	$574K
Inventory	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
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$520K-35.6%	$807K+108.0%	$388K-11.0%	$436K+45.8%	$299K	N/A
Current Liabilities	$368K-41.8%	$632K+140.3%	$263K-4.7%	$276K+58.6%	$174K-35.3%	$269K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$22.5M-13.2%	$25.9M+19.9%	$21.6M-6.6%	$23.2M-1.4%	$23.5M-2.6%	$24.1M
Retained Earnings	-$63.0M-9.3%	-$57.6M-7.0%	-$53.9M-7.9%	-$50.0M-5.0%	-$47.6M-2.0%	-$46.7M

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q4'21	Q3'21
Total Assets	$25.4M+10.1%	$23.0M-13.9%	$26.8M+21.0%	$22.1M+0.3%	$22.0M-4.1%	$23.0M-2.7%	$23.6M+5.7%	$22.4M
Current Assets	$8.4M+39.7%	$6.0M-39.7%	$9.9M+88.3%	$5.3M+0.5%	$5.3M-14.3%	$6.1M-14.3%	$7.2M+18.4%	$6.0M
Cash & Equivalents	$602K+643.2%	$81K-59.5%	$200K+19.0%	$168K-46.8%	$316K+29.5%	$244K-47.2%	$462K-16.6%	$554K
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	$630K+21.2%	$520K-35.6%	$807K+57.6%	$512K+32.0%	$388K-47.4%	$738K+69.3%	$436K+3.3%	$422K
Current Liabilities	$485K+31.8%	$368K-41.8%	$632K+93.3%	$327K+24.3%	$263K-56.8%	$609K+120.7%	$276K+10.0%	$251K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$24.7M+9.9%	$22.5M-13.2%	$25.9M+20.1%	$21.6M-0.2%	$21.6M-2.6%	$22.2M-4.1%	$23.2M+5.7%	$21.9M
Retained Earnings	-$66.3M-5.3%	-$63.0M-9.3%	-$57.6M-1.8%	-$56.6M-5.0%	-$53.9M-1.3%	-$53.2M-6.5%	-$50.0M-0.9%	-$49.5M

XPL Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$5.1M-56.3%	-$3.3M-12.5%	-$2.9M-34.4%	-$2.2M-113.6%	-$1.0M+61.7%	-$2.6M
Capital Expenditures	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
Investing Cash Flow	$3.9M+189.3%	-$4.4M-729.0%	$701K+678.9%	$90K-90.8%	$976K-68.6%	$3.1M
Financing Cash Flow	$1.3M-83.2%	$7.6M+268.0%	$2.1M+6.7%	$1.9M+2860.0%	$65K+600.0%	-$13K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	$0-100.0%	$5K-61.5%	$13K

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q4'21	Q3'21
Operating Cash Flow	-$1.7M+4.9%	-$1.7M-202.1%	-$579K+37.0%	-$919K+3.5%	-$952K-40.8%	-$676K-55.8%	-$434K+56.3%	-$993K
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	$1.4M-26.9%	$1.9M+142.0%	-$4.5M-138.0%	-$1.9M-285.0%	$1.0M+76.7%	$574K+142.1%	-$1.4M-223.5%	$1.1M
Financing Cash Flow	$471K	$0-100.0%	$5.1M+105.7%	$2.5M+24570.0%	$10K	$0-100.0%	$1.7M+4269.2%	$39K
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	$0	$0

XPL Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	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
Net Margin	N/A	N/A	N/A	N/A	N/A	-806.1%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-23.3%-9.3pp	-14.0%+3.8pp	-17.8%-7.8pp	-10.0%-6.1pp	-4.0%	N/A
Current Ratio	16.28+0.6	15.73-4.2	19.98-6.0	25.94-20.3	46.26+13.7	32.55
Debt-to-Equity	0.020.0	0.03+0.0	0.020.0	0.020.0	0.01	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q4'21	Q3'21
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	-7.4%+1.8pp	-9.1%	N/A	-5.8%	N/A	-4.6%	N/A	-3.1%
Current Ratio	17.26+1.0	16.28+0.6	15.73-0.4	16.14-3.8	19.98+9.9	10.07-15.9	25.94+1.8	24.10
Debt-to-Equity	0.030.0	0.020.0	0.030.0	0.020.0	0.02-0.0	0.03+0.0	0.020.0	0.02
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 Solitario Resources Corp profitable?

No, Solitario Resources Corp (XPL) reported a net income of -$5.4M in fiscal year 2024.

What is Solitario Resources Corp's operating cash flow?

Solitario Resources Corp (XPL) generated -$5.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Solitario Resources Corp's total assets?

Solitario Resources Corp (XPL) had $23.0M in total assets as of fiscal year 2024, including both current and long-term assets.

How many shares does Solitario Resources Corp have outstanding?

Solitario Resources Corp (XPL) had 82M shares outstanding as of fiscal year 2024.

What is Solitario Resources Corp's current ratio?

Solitario Resources Corp (XPL) had a current ratio of 16.28 as of fiscal year 2024, which is generally considered healthy.

What is Solitario Resources Corp's debt-to-equity ratio?

Solitario Resources Corp (XPL) had a debt-to-equity ratio of 0.02 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Solitario Resources Corp's return on assets (ROA)?

Solitario Resources Corp (XPL) had a return on assets of -23.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Solitario Resources Corp's cash runway?

Based on fiscal year 2024 data, Solitario Resources Corp (XPL) had $81K in cash against an annual operating cash burn of $5.1M. This gives an estimated cash runway of approximately 0 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 Solitario Resources Corp's Piotroski F-Score?

Solitario Resources Corp (XPL) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Solitario Resources Corp's earnings high quality?

Solitario Resources Corp (XPL) has an earnings quality ratio of 0.95x, 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.