Lithium Americas (LAC) financial statements
Net income was -$86M.
Free cash flow was -$826M.
The diluted share count rose 52% over the period (dilution).
Income statement
Fiscal years, from Lithium Americas's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Selling, general and admin | $5M | $10M | $25M | $28M | $53M |
| Operating income | -$3M | -$7M | $24M | — | — |
| Interest expense | $3M | $4M | $377,000 | $0 | — |
| Pre-tax income | — | — | — | -$43M | -$86M |
| Income tax | $0 | $0 | $0 | $0 | $0 |
| Net income | -$47M | -$68M | -$5M | -$43M | -$86M |
| EPS (diluted) | -$0.29 | -$0.42 | -$0.03 | -$0.21 | -$0.50 |
| Diluted shares | 160M | 160M | 160M | 201M | 244M |
Balance sheet
Fiscal years, from Lithium Americas's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash and short-term investments | $933,000 | $636,000 | $196M | $594M | $568M |
| Receivables | $878,000 | $1M | $4M | $557,000 | $4M |
| Total current assets | $2M | $2M | $206M | $602M | $912M |
| Property, plant and equipment | $3M | $4M | $201M | $399M | $1.3B |
| Total assets | $11M | $28M | $437M | $1.0B | $2.6B |
| Total current liabilities | $5M | $54M | $25M | $58M | $177M |
| Total liabilities | $53M | $62M | $52M | $100M | $992M |
| Shareholders' equity | -$42M | -$34M | $385M | $635M | $1.1B |
| Net debt | -$933,000 | -$636,000 | -$196M | -$594M | -$568M |
Cash flow
Fiscal years, from Lithium Americas's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating cash flow | -$43M | -$52M | -$40M | -$13M | -$61M |
| Capital spending | $529,000 | $2M | $189M | $178M | $765M |
| Free cash flow | -$43M | -$54M | -$228M | -$191M | -$826M |
| Stock-based compensation | — | — | $6M | $5M | $6M |
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How much free cash flow does Lithium Americas generate?
-$826M in fiscal 2025 (operating cash flow minus capital spending).
From Lithium Americas's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.