TMC the metals company (TMC) financial statements
Net income was -$320M.
Free cash flow was -$43M.
The diluted share count rose 115% over the period (dilution).
Income statement
Fiscal years, from TMC the metals company's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Selling, general and admin | — | $308M | $57M | $30M | $23M | $31M | $100M |
| Operating income | — | -$57M | -$150M | -$174M | -$72M | -$81M | -$140M |
| Interest expense | — | — | — | — | — | $416,000 | — |
| Pre-tax income | — | — | -$141M | -$171M | -$74M | -$82M | -$320M |
| Income tax | — | — | — | $77,000 | $41,000 | $48,000 | $144,000 |
| Net income | -$9,039 | -$57M | -$141M | -$171M | -$74M | -$82M | -$320M |
| EPS (diluted) | — | $0.32 | $0.69 | $0.71 | $0.26 | $0.25 | $0.83 |
| Diluted shares | — | 179M | 205M | 240M | 289M | 322M | 385M |
Balance sheet
Fiscal years, from TMC the metals company's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $16M | $10M | $85M | $47M | $7M | $3M | $118M |
| Receivables | — | $38,000 | $4M | $3M | $2M | — | — |
| Total current assets | $15,961 | $10M | $89M | $50M | $9M | $5M | $121M |
| Property, plant and equipment | — | $1M | $1M | $2M | $1M | $771,000 | $519,000 |
| Total assets | $119,621 | $55M | $133M | $95M | $69M | $63M | $182M |
| Total current liabilities | $103,660 | $8M | $27M | $42M | $31M | $55M | $59M |
| Total liabilities | $103,660 | $18M | $40M | $53M | $58M | $80M | $215M |
| Shareholders' equity | $15,961 | $36M | $93M | $42M | $11M | -$17M | -$33M |
| Net debt | -$16M | -$10M | -$85M | -$47M | -$7M | -$3M | -$118M |
Cash flow
Fiscal years, from TMC the metals company's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | — | -$27M | -$56M | -$67M | -$60M | -$43M | -$43M |
| Capital spending | — | — | — | — | $578,000 | $515,000 | $245,000 |
| Free cash flow | — | — | — | — | -$60M | -$44M | -$43M |
| Stock-based compensation | — | $27M | $75M | $20M | $12M | $25M | $97M |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for TMC.
Open TMC in InvestinglyQuestions
How much free cash flow does TMC the metals company generate?
-$43M in fiscal 2025 (operating cash flow minus capital spending).
From TMC the metals company's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.