GoldMining Inc.
GLDG NYSE Gold And Silver Ores Financials FY2019โFY2025
Revenue
Total sales reported in the income statement.
$0.2M
57.0%
vs prior year
Operating margin
Operating income as a share of revenue.
โ8,370.6%
4,768.1ย pts
Net income
Profit after all expenses, interest and tax.
โ$9.6M
Free cash flow
Cash from operations minus capital spending.
โ
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
โ
Market cap
Last close times the latest diluted share count, so it is approximate.
โ
P/E
Last close divided by diluted earnings per share over the last four quarters.
โ
What GoldMining Inc. does
No business description yet.
- Legal name
- GoldMining Inc.
- Fiscal year ends
- November 30, 2025
- Latest annual report
- 40-F ยท Feb 27, 2026
- Accession ยท CIK
- 0001437749-26-006120
0001538847
Revenue and margins
GoldMining Inc. had $0.2M of revenue in fiscal 2025, down 57.0% on the year before.
FY19
Revenue $0.1M
FY20
Revenue $0.1M
FY21
Revenue $0.0M
FY22
Revenue $0.0M
FY23
Revenue $0.5M
FY24
Revenue $0.5M
FY25
Revenue $0.2M
FY19
Gross โ
Operating โ4,070.0%
Net โ4,004.0%
FCF โ
FY20
Gross โ
Operating โ14,759.9%
Net โ15,050.7%
FCF โ
FY21
Gross โ
Operating 1,354,592.2%
Net 1,250,679.7%
FCF โ
FY22
Gross โ
Operating โ25,790.7%
Net โ24,918.3%
FCF โ
FY23
Gross โ
Operating โ3,846.5%
Net โ4,377.2%
FCF โ
FY24
Gross โ
Operating โ3,602.6%
Net โ3,562.1%
FCF โ
FY25
Gross โ
Operating โ8,370.6%
Net โ4,292.3%
FCF โ
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY19
Net income โ$4.7M
FY20
Net income โ$8.2M
FY21
Net income $80.0M
FY22
Net income โ$10.2M
FY23
Net income โ$21.3M
FY24
Net income โ$18.6M
FY25
Net income โ$9.6M
FY19
Diluted EPS โ$0.04
FY20
Diluted EPS โ$0.06
FY21
Diluted EPS $0.53
FY22
Diluted EPS โ$0.07
FY23
Diluted EPS โ
FY24
Diluted EPS โ
FY25
Diluted EPS โ
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY19
Return on capital โ
Return on equity โ9.5%
Return on assets โ9.1%
FY20
Return on capital โ14.9%
Return on equity โ16.7%
Return on assets โ15.7%
FY21
Return on capital 61.9%
Return on equity 85.5%
Return on assets 76.1%
FY22
Return on capital โ
Return on equity โ8.6%
Return on assets โ7.7%
FY23
Return on capital โ
Return on equity โ21.8%
Return on assets โ20.3%
FY24
Return on capital โ
Return on equity โ21.1%
Return on assets โ19.8%
FY25
Return on capital โ
Return on equity โ7.9%
Return on assets โ7.5%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was โ in fiscal 2025, โ of revenue. Cash from operations minus capital spending.
FY19
Free cash flow โ
FY20
Free cash flow โ
FY21
Free cash flow โ
FY22
Free cash flow โ
FY23
Free cash flow โ
FY24
Free cash flow โ
FY25
Free cash flow โ
FY19
Cash from operations โ
Capital spending โ
FY20
Cash from operations โ
Capital spending $0.0M
FY21
Cash from operations โ
Capital spending $0.0M
FY22
Cash from operations โ
Capital spending $0.0M
FY23
Cash from operations โ
Capital spending $0.1M
FY24
Cash from operations โ
Capital spending $0.2M
FY25
Cash from operations โ
Capital spending $0.0M
Cash from operations
Capital spending
Dividends, buybacks and share count
GoldMining Inc. returned โ to shareholders in fiscal 2025. The diluted share count rose 6.0%.
FY19
Dividends โ
Buybacks โ
FY20
Dividends โ
Buybacks โ
FY21
Dividends โ
Buybacks โ
FY22
Dividends โ
Buybacks โ
FY23
Dividends โ
Buybacks โ
FY24
Dividends โ
Buybacks โ
FY25
Dividends โ
Buybacks โ
Dividends
Buybacks
FY19
Diluted shares 0.14B
FY20
Diluted shares 0.15B
FY21
Diluted shares 0.15B
FY22
Diluted shares 0.15B
FY23
Diluted shares 0.17B
FY24
Diluted shares 0.19B
FY25
Diluted shares 0.20B
Balance sheet
Cash, debt and the ratios that show how comfortably GoldMining Inc. can carry it.
FY19
Cash $4.9M
Debt โ
FY20
Cash $7.1M
Debt $0.3M
FY21
Cash $9.1M
Debt $0.0M
FY22
Cash $6.2M
Debt โ
FY23
Cash $15.9M
Debt โ
FY24
Cash $8.5M
Debt โ
FY25
Cash $17.8M
Debt โ
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $9.1M | $6.2M | $15.9M | $8.5M | $17.8M |
| Debt incl. finance leases | $0.0M | โ | โ | โ | โ |
| Debt / equity | 0.0x | โ | โ | โ | โ |
| Interest coverage | 744.2x | โ7.8x | โ20.0x | โ522.6x | โ |
| Current ratio | 0.9x | 0.8x | 10.1x | 3.1x | 9.5x |
| Quick ratio | 0.9x | 0.8x | 10.1x | 3.1x | 9.5x |
| Total assets | $157M | $109M | $101M | $86.3M | $170M |
| Total liabilities | $19.1M | $9.1M | $3.3M | $4.1M | $6.0M |
| Shareholders' equity | $138M | $100.0M | $95.0M | $81.2M | $162M |
| Net debt (โ = net cash) | โ$9.1M | โ | โ | โ | โ |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. โPlanโ marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
โ
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8โ9 is strong, 0โ2 weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations is positive | โ | โ | โ | โ | โ | โ | โ |
| Return on assets rose | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations exceeds net income | โ | โ | โ | โ | โ | โ | โ |
| Debt fell relative to assets | โ | โ | โ | โ | โ | โ | โ |
| Current ratio rose | โ | โ | โ | โ | โ | โ | โ |
| Share count didn't rise | โ | โ | โ | โ | โ | โ | โ |
| Gross margin rose | โ | โ | โ | โ | โ | โ | โ |
| Revenue rose relative to assets | โ | โ | โ | โ | โ | โ | โ |
| F-score | โ / 1 | โ / 5 | โ / 6 | โ / 5 | โ / 5 | โ / 5 | โ / 5 |
| Accruals ratio | โ | โ | โ | โ | โ | โ | โ |
| Altman Z'' | 23.63 | 14.07 | 11.89 | 11.48 | 30.65 | 19.51 | 28.31 |
7 years of figures
Amounts in USD. Hover a ratioโs name for its definition.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $0.1M | $0.1M | $0.0M | $0.0M | $0.5M | $0.5M | $0.2M |
| Net interest income | $0.1M | $0.1M | $0.0M | $0.0M | $0.5M | $0.5M | $0.2M |
| Operating income | โ$4.8M | โ$8.1M | $86.7M | โ$10.5M | โ$18.7M | โ$18.8M | โ$18.8M |
| Interest expense | โ | $0.0M | $0.1M | $1.3M | $0.9M | $0.0M | โ |
| Pretax income | โ | โ$8.2M | $87.1M | โ$11.1M | โ$18.9M | โ$18.5M | โ$18.1M |
| Income tax | โ | $0.0M | $7.2M | โ$0.9M | $3.6M | $1.5M | โ$7.2M |
| Net income | โ$4.7M | โ$8.2M | $80.0M | โ$10.2M | โ$21.3M | โ$18.6M | โ$9.6M |
| Net income to common | โ | โ$8.2M | $80.0M | โ$10.2M | โ$21.3M | โ$18.6M | โ$9.6M |
| Diluted EPS | โ$0.04 | โ$0.06 | $0.53 | โ$0.07 | โ | โ | โ |
| Diluted shares | 0.14B | 0.15B | 0.15B | 0.15B | 0.17B | 0.19B | 0.20B |
| Cash flow | |||||||
| Capital expenditure | โ | $0.0M | $0.0M | $0.0M | $0.1M | $0.2M | $0.0M |
| Stock-based compensation | $1.0M | $2.0M | $2.4M | $1.8M | $2.4M | $1.7M | $2.1M |
| Balance sheet | |||||||
| Cash and short-term investments | $4.9M | $7.1M | $9.1M | $6.2M | $15.9M | $8.5M | $17.8M |
| Total debt | โ | $0.3M | $0.0M | โ | โ | โ | โ |
| Current assets | $5.2M | $7.8M | $9.6M | $6.8M | $17.4M | $9.5M | $19.7M |
| Current liabilities | $1.4M | $2.4M | $10.6M | $8.1M | $1.7M | $3.0M | $2.1M |
| Property and equipment, net | $1.4M | $1.4M | $1.4M | $1.4M | โ | โ | โ |
| Total assets | $51.3M | $53.6M | $157M | $109M | $101M | $86.3M | $170M |
| Total liabilities | $2.0M | $3.0M | $19.1M | $9.1M | $3.3M | $4.1M | $6.0M |
| Shareholders' equity | $49.3M | $49.6M | $138M | $100.0M | $95.0M | $81.2M | $162M |
| Margins | |||||||
| Operating margin | โ4,070.0% | โ14,759.9% | 1,354,592.2% | โ25,790.7% | โ3,846.5% | โ3,602.6% | โ8,370.6% |
| Net margin | โ4,004.0% | โ15,050.7% | 1,250,679.7% | โ24,918.3% | โ4,377.2% | โ3,562.1% | โ4,292.3% |
| Net interest share of revenue | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Returns | |||||||
| Return on capital | โ | โ14.9% | 61.9% | โ | โ | โ | โ |
| Return on capital employed | โ9.5% | โ15.8% | 59.4% | โ10.5% | โ18.9% | โ22.5% | โ11.2% |
| Return on equity | โ9.5% | โ16.7% | 85.5% | โ8.6% | โ21.8% | โ21.1% | โ7.9% |
| Return on assets | โ9.1% | โ15.7% | 76.1% | โ7.7% | โ20.3% | โ19.8% | โ7.5% |
| Return on tangible equity | โ9.5% | โ16.6% | 58.2% | โ10.2% | โ22.4% | โ22.8% | โ5.9% |
| Growth | |||||||
| Revenue growth | โ | โ53.1% | โ88.3% | 539.1% | 1,089.2% | 7.1% | โ57.0% |
| Net income growth | โ | โ | โ | โ112.7% | โ | โ | โ |
| EPS growth | โ | โ | โ | โ113.2% | โ | โ | โ |
| Share count change | โ | 5.9% | 4.4% | 1.0% | 11.6% | 9.3% | 6.0% |
| Financial health | |||||||
| Debt / equity | โ | 0.0x | 0.0x | โ | โ | โ | โ |
| Interest coverage | โ | โ3,851.6x | 744.2x | โ7.8x | โ20.0x | โ522.6x | โ |
| Current ratio | 3.8x | 3.3x | 0.9x | 0.8x | 10.1x | 3.1x | 9.5x |
| Quick ratio | 3.8x | 3.3x | 0.9x | 0.8x | 10.1x | 3.1x | 9.5x |
| Capital allocation | |||||||
| Capex / revenue | โ | 49.5% | 87.5% | 66.0% | 25.9% | 34.2% | 0.0% |
| Stock comp / revenue | 825.1% | 3,562.6% | 37,550.0% | 4,515.4% | 500.3% | 323.7% | 944.6% |
| Quality scores | |||||||
| Altman Z'' | 23.6 | 14.1 | 11.9 | 11.5 | 30.6 | 19.5 | 28.3 |
Source: SEC EDGAR XBRL filings (CIK 0001538847). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Filed in CAD under IFRS and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. For information only โ not investment advice. Check the original filings before relying on any figure.