U.S. GoldMining Inc.
USGO Nasdaq Gold And Silver Ores Financials FY2022–FY2025
Last close · Oct 23, 2026
$4.55
2.6%
Revenue
Total sales reported in the income statement.
—
vs prior year
Operating margin
Operating income as a share of revenue.
—
Net income
Profit after all expenses, interest and tax.
−$7.0M
Free cash flow
Cash from operations minus capital spending.
—
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
$61.0M
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On −$0.88 EPS (TTM)
What U.S. GoldMining Inc. does
No business description yet.
- Legal name
- U.S. GoldMining Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 20, 2026
- Accession · CIK
- 0001493152-26-011885
0001947244
Revenue and margins
U.S. GoldMining Inc. had — of revenue in fiscal 2025.
FY22
Revenue —
FY23
Revenue —
FY24
Revenue —
FY25
Revenue —
FY22
Gross —
Operating —
Net —
FCF —
FY23
Gross —
Operating —
Net —
FCF —
FY24
Gross —
Operating —
Net —
FCF —
FY25
Gross —
Operating —
Net —
FCF —
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY22
Net income −$1.7M
FY23
Net income −$9.4M
FY24
Net income —
FY25
Net income −$7.0M
Q2 '23
Net income −$2.9M
Q3 '23
Net income −$3.2M
Q4 '23
Net income −$3.7M
Q1 '24
Net income −$1.0M
Q2 '24
Net income −$1.5M
Q3 '24
Net income −$4.3M
Q1 '25
Net income −$1.3M
Q2 '25
Net income −$0.9M
Q3 '25
Net income −$2.8M
Q4 '25
Net income −$2.0M
Q1 '26
Net income −$1.9M
Q2 '26
Net income −$4.2M
FY22
Diluted EPS −$0.17
FY23
Diluted EPS −$0.82
FY24
Diluted EPS —
FY25
Diluted EPS −$0.55
Q2 '23
Diluted EPS −$0.25
Q3 '23
Diluted EPS −$0.25
Q4 '23
Diluted EPS −$0.22
Q1 '24
Diluted EPS −$0.08
Q2 '24
Diluted EPS −$0.12
Q3 '24
Diluted EPS −$0.35
Q1 '25
Diluted EPS −$0.10
Q2 '25
Diluted EPS −$0.07
Q3 '25
Diluted EPS −$0.22
Q4 '25
Diluted EPS −$0.16
Q1 '26
Diluted EPS −$0.14
Q2 '26
Diluted EPS −$0.36
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY22
Return on capital —
Return on equity —
Return on assets −757.3%
FY23
Return on capital —
Return on equity −171.2%
Return on assets −141.2%
FY24
Return on capital —
Return on equity —
Return on assets —
FY25
Return on capital —
Return on equity −116.0%
Return on assets −102.8%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.
FY22
Free cash flow —
FY23
Free cash flow −$9.5M
FY24
Free cash flow —
FY25
Free cash flow —
Q2 '23
Free cash flow —
Q3 '23
Free cash flow —
Q4 '23
Free cash flow —
Q1 '24
Free cash flow −$0.5M
Q2 '24
Free cash flow —
Q3 '24
Free cash flow —
Q1 '25
Free cash flow —
Q2 '25
Free cash flow —
Q3 '25
Free cash flow —
Q4 '25
Free cash flow —
Q1 '26
Free cash flow −$2.8M
Q2 '26
Free cash flow −$3.4M
FY22
Cash from operations −$1.3M
Capital spending —
FY23
Cash from operations −$9.4M
Capital spending $0.1M
FY24
Cash from operations —
Capital spending —
FY25
Cash from operations −$5.8M
Capital spending —
Cash from operations
Capital spending
Q2 '23
Cash from operations —
Capital spending —
Q3 '23
Cash from operations −$3.8M
Capital spending —
Q4 '23
Cash from operations −$2.4M
Capital spending —
Q1 '24
Cash from operations −$0.5M
Capital spending $0.0M
Q2 '24
Cash from operations —
Capital spending —
Q3 '24
Cash from operations —
Capital spending —
Q1 '25
Cash from operations −$0.9M
Capital spending —
Q2 '25
Cash from operations −$0.9M
Capital spending —
Q3 '25
Cash from operations −$2.9M
Capital spending —
Q4 '25
Cash from operations −$1.1M
Capital spending —
Q1 '26
Cash from operations −$2.5M
Capital spending $0.2M
Q2 '26
Cash from operations −$3.3M
Capital spending $0.2M
Cash from operations
Capital spending
Dividends, buybacks and share count
U.S. GoldMining Inc. returned — to shareholders in fiscal 2025. The diluted share count rose 0.0%.
FY22
Dividends —
Buybacks —
FY23
Dividends —
Buybacks —
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
Dividends
Buybacks
Q2 '23
Dividends —
Buybacks —
Q3 '23
Dividends —
Buybacks —
Q4 '23
Dividends —
Buybacks —
Q1 '24
Dividends —
Buybacks —
Q2 '24
Dividends —
Buybacks —
Q3 '24
Dividends —
Buybacks —
Q1 '25
Dividends —
Buybacks —
Q2 '25
Dividends —
Buybacks —
Q3 '25
Dividends —
Buybacks —
Q4 '25
Dividends —
Buybacks —
Q1 '26
Dividends —
Buybacks —
Q2 '26
Dividends $0.6M
Buybacks —
Dividends
Buybacks
FY22
Diluted shares 0.01B
FY23
Diluted shares 0.01B
FY24
Diluted shares —
FY25
Diluted shares 0.01B
Balance sheet
Cash, debt and the ratios that show how comfortably U.S. GoldMining Inc. can carry it.
FY22
Cash $0.1M
Debt —
FY23
Cash $11.4M
Debt —
FY24
Cash $3.9M
Debt —
FY25
Cash $7.4M
Debt —
Cash
Debt
| Fiscal year end | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Cash and short-term investments | $0.1M | $11.4M | $3.9M | $7.4M |
| Current ratio | 0.2x | 23.4x | 9.8x | 13.6x |
| Quick ratio | 0.2x | 23.3x | 9.7x | 13.5x |
| Total assets | $0.2M | $13.0M | $5.1M | $8.4M |
| Total liabilities | $1.5M | $0.8M | $0.7M | $0.8M |
| Shareholders' equity | −$1.3M | $12.2M | $4.4M | $7.6M |
| Net debt (− = net cash) | — | — | — | — |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” 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
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Net income is positive | ✕ | ✕ | — | ✕ |
| Cash from operations is positive | ✕ | ✕ | — | ✕ |
| Return on assets rose | — | ✓ | — | — |
| Cash from operations exceeds net income | ✓ | ✕ | — | ✓ |
| Debt fell relative to assets | — | — | — | — |
| Current ratio rose | — | ✓ | ✕ | ✓ |
| Share count didn't rise | — | ✕ | — | — |
| Gross margin rose | — | — | — | — |
| Revenue rose relative to assets | — | — | — | — |
| F-score | — / 3 | — / 6 | — / 1 | — / 4 |
| Accruals ratio | −181.4% | 1.1% | — | −16.9% |
| Altman Z'' | −154.61 | 12.93 | — | −2.31 |
4 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Income statement | ||||
| Operating income | −$1.7M | −$9.8M | — | −$7.1M |
| Pretax income | −$1.7M | −$9.4M | — | −$7.0M |
| Income tax | — | $0.0M | — | $0.0M |
| Net income | −$1.7M | −$9.4M | — | −$7.0M |
| Diluted EPS | −$0.17 | −$0.82 | — | −$0.55 |
| Diluted shares | 0.01B | 0.01B | — | 0.01B |
| Cash flow | ||||
| Cash from operations | −$1.3M | −$9.4M | — | −$5.8M |
| Capital expenditure | — | $0.1M | — | — |
| Free cash flow | — | −$9.5M | — | — |
| Depreciation and amortization | — | $0.0M | — | $0.1M |
| Stock-based compensation | $0.1M | $0.4M | — | $0.9M |
| Balance sheet | ||||
| Cash and short-term investments | $0.1M | $11.4M | $3.9M | $7.4M |
| Current assets | $0.2M | $12.0M | $4.1M | $7.6M |
| Current liabilities | $1.3M | $0.5M | $0.4M | $0.6M |
| Inventory | — | $0.0M | $0.0M | $0.0M |
| Property and equipment, net | — | $0.9M | $0.9M | $0.7M |
| Total assets | $0.2M | $13.0M | $5.1M | $8.4M |
| Total liabilities | $1.5M | $0.8M | $0.7M | $0.8M |
| Shareholders' equity | −$1.3M | $12.2M | $4.4M | $7.6M |
| Returns | ||||
| Return on capital employed | 164.1% | −78.1% | — | −90.2% |
| Return on equity | — | −171.2% | — | −116.0% |
| Return on assets | −757.3% | −141.2% | — | −102.8% |
| Return on tangible equity | — | −76.6% | — | −91.9% |
| Growth | ||||
| Share count change | — | 15.5% | — | — |
| Financial health | ||||
| Current ratio | 0.2x | 23.4x | 9.8x | 13.6x |
| Quick ratio | 0.2x | 23.3x | 9.7x | 13.5x |
| Quality scores | ||||
| Altman Z'' | −154.6 | 12.9 | — | −2.3 |
| Accruals ratio | −181.4% | 1.1% | — | −16.9% |
Source: SEC EDGAR XBRL filings (CIK 0001947244). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.