TMC financial statements
The full income statement, balance sheet, and cash-flow statement for TMC the metals company Inc. (TMC), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Selling, general & administrative | 99.8M+225.6% | 30.6M+36.0% | 22.5M-23.6% | 29.5M-47.8% | 56.6M+632.7% | |
| General & administrative | 99.8M+225.6% | 30.6M+36.0% | 22.5M-23.6% | 29.5M-47.8% | 56.6M+632.7% | |
| Operating income | -140M-72.3% | -81.3M-12.3% | -72.4M+58.4% | -174M-16.4% | -150M-164.3% | |
| Interest expense | — | 416K | — | — | — | |
| Net interest income | 2.79M+1486.9% | 176K-86.4% | 1.30M+16.7% | 1.11M+210.8% | -1.00M-1992.5% | |
| Equity-method income | — | -226K+60.4% | -571K | — | — | |
| Pre-tax income | -320M-290.4% | -81.9M-11.1% | -73.7M+56.8% | -171M-20.9% | -141M | |
| Income tax | 144K+200.0% | 48.0K+17.1% | 41.0K-46.8% | 77.0K | — | |
| Net income | -320M-290.3% | -81.9M-11.1% | -73.8M+56.8% | -171M-21.0% | -141M-149.5% | |
| $0.83+232.0% | $0.25-3.8% | $0.26-63.4% | $0.71+2.9% | $0.69+115.6% | ||
| EPS (basic) | $0.83+232.0% | $0.25-3.8% | $0.26-63.4% | $0.71+2.9% | $0.69+115.6% | |
| Weighted-avg shares (basic) | 385M+19.5% | 322M+11.5% | 289M+20.3% | 240M+17.1% | 205M+14.8% | |
| Weighted-avg shares (diluted) | 385M+19.5% | 322M+11.5% | 289M+20.3% | 240M+17.1% | 205M+14.8% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 121M+2163.8% | 5.33M-39.6% | 8.82M-82.2% | 49.6M-44.0% | 88.6M+766.1% | ||
| Cash & equivalents | 118M+3280.3% | 3.48M-49.1% | 6.84M-85.4% | 46.9M-44.8% | 84.9M+740.7% | |
| Accounts receivable | — | — | 1.98M-27.4% | 2.73M-26.0% | 3.69M+9600.0% | |
| 182M+188.3% | 63.0M-8.6% | 68.9M-27.3% | 94.8M-28.8% | 133M+143.4% | ||
| Property, plant & equipment | 519K-32.7% | 771K-32.0% | 1.13M-44.0% | 2.02M+43.0% | 1.42M+8.1% | |
| Operating lease right-of-use | 1.91M-50.0% | 3.81M-33.3% | 5.72M | — | — | |
| Intangible assets | 2.13M+10.2% | 1.93M+17.3% | 1.64M | — | — | |
| Long-term investments | 13.4M+63.9% | 8.20M-2.7% | 8.43M | — | — | |
| Total non-current assets | 60.9M+5.7% | 57.7M-4.0% | 60.1M+33.0% | 45.2M+1.4% | 44.6M+0.2% | |
| 59.4M+8.9% | 54.5M+74.0% | 31.3M-24.7% | 41.6M+56.6% | 26.6M+242.6% | ||
| Accounts payable | 2.28M-63.3% | 6.20M+153.8% | 2.44M | — | — | |
| Accrued liabilities | 46.0M+7.7% | 42.8M+36.4% | 31.3M-24.7% | 41.6M+56.6% | 26.6M+1338.9% | |
| Short-term & current debt | — | 11.8M | — | — | — | |
| 215M+168.5% | 80.1M+38.2% | 58.0M+8.8% | 53.3M+31.9% | 40.4M+119.1% | ||
| Operating lease liability (total) | — | 0.00 | — | — | — | |
| Deferred tax liabilities | 10.7M+0.0% | 10.7M+0.0% | 10.7M+0.0% | 10.7M+0.0% | 10.7M+0.0% | |
| Total non-current liabilities | 156M+508.4% | 25.6M-4.0% | 26.6M | — | — | |
| -33.4M-95.4% | -17.1M-256.8% | 10.9M-73.7% | 41.5M-55.3% | 92.8M+155.8% | ||
| Common stock | 681M+42.8% | 477M+8.9% | 438M+31.6% | 333M+12.4% | 296M+91.7% | |
| Additional paid-in capital | 238M+71.9% | 138M+12.6% | 123M-33.6% | 185M+81.2% | 102M+125.1% | |
| Retained earnings | -951M-50.7% | -631M-15.0% | -549M-15.5% | -475M-56.2% | -304M-86.8% | |
| Accumulated other comprehensive income | -1.20M+0.0% | -1.20M+1.1% | -1.22M+0.0% | -1.22M+0.0% | -1.22M+0.0% | |
| Total equity incl. non-controlling | — | — | — | — | 92.8M+155.8% | |
| Total liabilities & equity | 182M+188.3% | 63.0M-8.6% | 68.9M-27.3% | 94.8M-28.8% | 133M+143.4% | |
| Common shares issued | 423M+24.1% | 341M+11.1% | 307M+14.9% | 267M+18.4% | 225M+19.0% | |
| Common shares outstanding | 423M+24.1% | 341M+11.1% | 307M+14.9% | 267M+18.9% | 224M | |
| Shares outstanding (cover) | 433M+24.5% | 348M+9.3% | 318M+14.5% | 278M+22.5% | 227M | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| -42.9M+1.4% | -43.5M+27.0% | -59.6M+10.6% | -66.6M-18.7% | -56.1M-111.4% | ||
| Share-based compensation | 96.7M+281.9% | 25.3M+104.8% | 12.4M-38.4% | 20.1M-73.1% | 74.6M+175.2% | |
| 447K+186.8% | -515K+10.9% | -578K+50.6% | -1.17M+69.6% | -3.84M-532.9% | ||
| Capital expenditure | 245K-52.4% | 515K-10.9% | 578K | — | — | |
| Free cash flow | -43.1M+2.0% | -44.0M+26.9% | -60.2M | — | — | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| 157M+284.9% | 40.7M+102.8% | 20.1M-32.5% | 29.7M-77.9% | 135M+532.6% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 14.8M+203.8% | 4.87M+16120.0% | 30.0K-99.9% | 30.4M | 0.00-100.0% | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| FX effect on cash | -28.0K+56.9% | -65.0K-227.5% | 51.0K-3.8% | 53.0K+430.0% | 10.0K+225.0% | |
| Income taxes paid | 93.0K+173.5% | 34.0K | — | — | — | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 2.67B+585.9% | 390M+16.1% | 336M+81.8% | 185M-60.9% | 472M | |
| P/B | — | — | 8.1×+245.5% | 2.3×-54.1% | 5.1× | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: TMC’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all TMC filings on SEC EDGAR → Not investment advice.