1.Sales and profit
See section β- Trilogy Metals Inc. lost $42.2M in fiscal 2025.
Trilogy Metals Inc.
TMQ NYSE Gold And Silver Ores Financials FY2016βFY2025
Download report
3-page PDF: the company, its results and charts with peers.
Last close Β· Oct 23, 2026
$2.06
3.3%KIRAβs summary AI analyst
Hi! I read Trilogy Metals Inc.βs latest annual report (fiscal 2025). Here is what stands out:
1 to watch
2.Cash and shareholders
See section β- No open-market insider trades in the last 12 months.
Trilogy Metals Inc. in 30 seconds
Good So-so Weak
Weak
Does it make a profit?
β$42.2M
No. It lost money last year.
For information
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Key numbers, fiscal 2025
Market cap
Last close times the latest diluted share count, so it is approximate.
$356M
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
β
On β$0.30 EPS (TTM)
Charts by
Sales and profit
Is it selling more, and how much does it keep?
Results dates
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Trilogy Metals Inc. did it, and the next one. Share prices often move a lot on those days.
Next results
February 16, 2027
Tuesday Β· in 113 days
- Time
- During market hours
- Covers
- Period ended Nov 30, 2026
- Source
- Stoqly estimate
Estimated from the same quarter last year. It will be replaced by the announced date once there is one.
See who else reports that week β| Date | Results for | Time | Source |
|---|---|---|---|
| Oct 2, 2026 | Q3 '26 | Before the market opens | 8-K β |
| Jul 8, 2026 | Q2 '26 | Before the market opens | 8-K β |
| Apr 2, 2026 | Q1 '26 | After the market closes | 8-K β |
| Feb 17, 2026 | Q4 '25 | During market hours | 8-K β |
| Sep 30, 2025 | Q3 '25 | After the market closes | 8-K β |
| Jul 10, 2025 | Q2 '25 | During market hours | 8-K β |
| Apr 2, 2025 | Q1 '25 | Before the market opens | 8-K β |
| Feb 14, 2025 | Q4 '24 | Before the market opens | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
Revenue and margins
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
FY16
Revenue $0.1M
FY17
Revenue $0.1M
FY18
Revenue $0.3M
FY19
Revenue $0.5M
FY20
Revenue β
FY21
Revenue β
FY22
Revenue β
FY23
Revenue β
FY24
Revenue β
FY25
Revenue β
Margins, % of revenue
FY16
Gross β
Operating β
Net β7,970.5%
FCF β14,449.2%
FY17
Gross β
Operating β
Net β35,769.5%
FCF β26,628.8%
FY18
Gross β
Operating β
Net β6,314.7%
FCF β6,380.6%
FY19
Gross β
Operating β
Net β5,581.0%
FCF β4,827.4%
FY20
Gross β
Operating β
Net β
FCF β
FY21
Gross β
Operating β
Net β
FCF β
FY22
Gross β
Operating β
Net β
FCF β
FY23
Gross β
Operating β
Net β
FCF β
FY24
Gross β
Operating β
Net β
FCF β
FY25
Gross β
Operating β
Net β
FCF β
Gross
Operating
Net
FCF
Net income and earnings per share
KIRA Β· Trilogy Metals Inc. lost $42.2M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
FY16
Net income β$4.9M
FY17
Net income β$21.1M
FY18
Net income β$21.8M
FY19
Net income β$27.9M
FY20
Net income $162M
FY21
Net income β$21.7M
FY22
Net income β$24.3M
FY23
Net income β$15.0M
FY24
Net income β$8.6M
FY25
Net income β$42.2M
Net income
Q4 '23
Net income β$3.0M
Q1 '24
Net income β$3.6M
Q2 '24
Net income β$1.8M
Q3 '24
Net income β$1.6M
Q4 '24
Net income β$1.6M
Q1 '25
Net income β$3.6M
Q2 '25
Net income β$2.2M
Q3 '25
Net income β$1.7M
Q4 '25
Net income β$34.7M
Q1 '26
Net income β$7.1M
Q2 '26
Net income β$6.3M
Q3 '26
Net income $0.2M
Diluted EPS
FY16
Diluted EPS $0.05
FY17
Diluted EPS $0.20
FY18
Diluted EPS β$0.18
FY19
Diluted EPS β$0.21
FY20
Diluted EPS $1.12
FY21
Diluted EPS β$0.15
FY22
Diluted EPS β$0.17
FY23
Diluted EPS β$0.10
FY24
Diluted EPS β$0.05
FY25
Diluted EPS β$0.26
Diluted EPS
Q4 '23
Diluted EPS β$0.02
Q1 '24
Diluted EPS β$0.02
Q2 '24
Diluted EPS β$0.01
Q3 '24
Diluted EPS β$0.01
Q4 '24
Diluted EPS β$0.01
Q1 '25
Diluted EPS β$0.02
Q2 '25
Diluted EPS β$0.01
Q3 '25
Diluted EPS β$0.01
Q4 '25
Diluted EPS β$0.22
Q1 '26
Diluted EPS β$0.04
Q2 '26
Diluted EPS β$0.04
Q3 '26
Diluted EPS $0.00
Cash and shareholders
How much cash comes in, and where does it go?
Cash flow
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
FY16
Free cash flow β$8.8M
FY17
Free cash flow β$15.7M
FY18
Free cash flow β$22.1M
FY19
Free cash flow β$24.1M
FY20
Free cash flow β
FY21
Free cash flow β
FY22
Free cash flow β
FY23
Free cash flow β
FY24
Free cash flow β
FY25
Free cash flow β
Cash from operations vs capital spending
FY16
Cash from operations β$8.7M
Capital spending $0.1M
FY17
Cash from operations β$15.4M
Capital spending $0.3M
FY18
Cash from operations β$22.1M
Capital spending $0.0M
FY19
Cash from operations β$23.5M
Capital spending $0.6M
FY20
Cash from operations β$8.3M
Capital spending β
FY21
Cash from operations β$5.1M
Capital spending β
FY22
Cash from operations β$3.9M
Capital spending β
FY23
Cash from operations β$3.1M
Capital spending β
FY24
Cash from operations β$1.8M
Capital spending β
FY25
Cash from operations β$3.2M
Capital spending β
Cash from operations
Capital spending
Cash from operations vs capital spending
Q4 '23
Cash from operations β$0.5M
Capital spending β
Q1 '24
Cash from operations β$0.6M
Capital spending β
Q2 '24
Cash from operations β$0.5M
Capital spending β
Q3 '24
Cash from operations β$0.8M
Capital spending β
Q4 '24
Cash from operations $0.0M
Capital spending β
Q1 '25
Cash from operations β$0.7M
Capital spending β
Q2 '25
Cash from operations β$0.7M
Capital spending β
Q3 '25
Cash from operations β$1.3M
Capital spending β
Q4 '25
Cash from operations β$0.6M
Capital spending β
Q1 '26
Cash from operations β$2.7M
Capital spending β
Q2 '26
Cash from operations β$1.0M
Capital spending β
Q3 '26
Cash from operations β$1.1M
Capital spending β
Cash from operations
Capital spending
Dividends, buybacks and share count
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
FY16
Dividends β
Buybacks β
FY17
Dividends β
Buybacks β
FY18
Dividends β
Buybacks β
FY19
Dividends β
Buybacks β
FY20
Dividends β
Buybacks β
FY21
Dividends β
Buybacks β
FY22
Dividends β
Buybacks β
FY23
Dividends β
Buybacks β
FY24
Dividends β
Buybacks β
FY25
Dividends β
Buybacks β
Dividends
Buybacks
Diluted shares outstanding (annual)
FY16
Diluted shares 0.11B
FY17
Diluted shares 0.11B
FY18
Diluted shares 0.12B
FY19
Diluted shares 0.14B
FY20
Diluted shares 0.14B
FY21
Diluted shares 0.14B
FY22
Diluted shares 0.15B
FY23
Diluted shares 0.15B
FY24
Diluted shares 0.16B
FY25
Diluted shares 0.16B
Insider trades
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Financial health
Can it carry its debts, and how well does it use its money?
Balance sheet
Cash, debt and the ratios that show how comfortably Trilogy Metals Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
FY16
Cash $14.9M
Debt β
FY17
Cash $7.9M
Debt β
FY18
Cash $23.0M
Debt β
FY19
Cash $19.2M
Debt β
FY20
Cash $11.1M
Debt β
FY21
Cash $6.3M
Debt β
FY22
Cash $2.6M
Debt β
FY23
Cash $2.6M
Debt β
FY24
Cash $25.8M
Debt β
FY25
Cash $51.6M
Debt β
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $6.3M | $2.6M | $2.6M | $25.8M | $51.6M |
| Current ratio | 6.4x | 5.4x | 6.2x | 32.8x | 1.6x |
| Quick ratio | 6.4x | 5.4x | 6.2x | 32.8x | 1.6x |
| Total assets | $167M | $146M | $138M | $134M | $157M |
| Total liabilities | $1.3M | $0.6M | $0.5M | $0.9M | $33.2M |
| Shareholders' equity | $166M | $145M | $138M | $133M | $124M |
| Net debt (β = net cash) | β | β | β | β | β |
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
FY16
Return on capital β
Return on equity β10.5%
Return on assets β10.4%
FY17
Return on capital β
Return on equity β58.8%
Return on assets β48.5%
FY18
Return on capital β
Return on equity β75.5%
Return on assets β46.0%
FY19
Return on capital β
Return on equity β110.6%
Return on assets β52.5%
FY20
Return on capital β
Return on equity 160.1%
Return on assets 136.6%
FY21
Return on capital β
Return on equity β12.4%
Return on assets β12.3%
FY22
Return on capital β
Return on equity β15.6%
Return on assets β15.5%
FY23
Return on capital β
Return on equity β10.6%
Return on assets β10.5%
FY24
Return on capital β
Return on equity β6.4%
Return on assets β6.3%
FY25
Return on capital β
Return on equity β32.9%
Return on assets β29.0%
Return on capital
Return on equity
Return on assets
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 2 / 7 | 3 / 7 | 2 / 7 | β / 6 | β / 6 | β / 6 | β / 6 | β / 6 | β / 6 |
| Accruals ratio | 8.2% | β13.1% | 0.5% | β8.3% | 143.5% | β9.4% | β13.0% | β8.4% | β5.0% | β26.8% |
| Altman Z'' | β | β | β | β | β | β | β | β | β | β |
All figures
Every number, year by year.
10 years of figures
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $0.1M | $0.1M | $0.3M | $0.5M | β | β | β | β | β | β |
| Net interest income | $0.1M | $0.1M | $0.3M | $0.5M | β | β | β | β | β | β |
| Research and development | β | β | β | β | $1.1M | β | β | β | β | β |
| Income tax | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Net income | β$4.9M | β$21.1M | β$21.8M | β$27.9M | $162M | β$21.7M | β$24.3M | β$15.0M | β$8.6M | β$42.2M |
| Diluted EPS | $0.05 | $0.20 | β$0.18 | β$0.21 | $1.12 | β$0.15 | β$0.17 | β$0.10 | β$0.05 | β$0.26 |
| Diluted shares | 0.11B | 0.11B | 0.12B | 0.14B | 0.14B | 0.14B | 0.15B | 0.15B | 0.16B | 0.16B |
| Cash flow | ||||||||||
| Cash from operations | β$8.7M | β$15.4M | β$22.1M | β$23.5M | β$8.3M | β$5.1M | β$3.9M | β$3.1M | β$1.8M | β$3.2M |
| Capital expenditure | $0.1M | $0.3M | $0.0M | $0.6M | β | β | β | β | β | β |
| Free cash flow | β$8.8M | β$15.7M | β$22.1M | β$24.1M | β | β | β | β | β | β |
| Depreciation and amortization | $0.1M | $0.1M | $0.2M | $0.2M | $0.1M | $0.0M | $0.0M | $0.0M | $0.0M | β |
| Stock-based compensation | $0.6M | β$0.7M | β$1.4M | β$3.8M | β$3.6M | β$3.5M | β$3.4M | β$3.8M | β$3.5M | β$3.3M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $14.9M | $7.9M | $23.0M | $19.2M | $11.1M | $6.3M | $2.6M | $2.6M | $25.8M | $51.6M |
| Current assets | $15.6M | $9.1M | $23.6M | $20.2M | $11.4M | $6.6M | $2.9M | $2.9M | $26.0M | $51.9M |
| Current liabilities | $0.6M | $4.2M | $1.7M | $2.4M | $1.0M | $1.0M | $0.5M | $0.5M | $0.8M | $33.1M |
| Property and equipment, net | $0.2M | $0.5M | $0.3M | $0.7M | $0.2M | $0.0M | $0.0M | $0.0M | β | β |
| Total assets | $46.7M | $40.3M | $54.7M | $51.6M | $185M | $167M | $146M | $138M | $134M | $157M |
| Total liabilities | $0.6M | $14.6M | $22.5M | $33.4M | $1.5M | $1.3M | $0.6M | $0.5M | $0.9M | $33.2M |
| Shareholders' equity | $46.2M | $25.7M | $32.2M | $18.3M | $184M | $166M | $145M | $138M | $133M | $124M |
| Margins | ||||||||||
| Net margin | β7,970.5% | β35,769.5% | β6,314.7% | β5,581.0% | β | β | β | β | β | β |
| FCF margin | β14,449.2% | β26,628.8% | β6,380.6% | β4,827.4% | β | β | β | β | β | β |
| Net interest share of revenue | 100.0% | 100.0% | 100.0% | 100.0% | β | β | β | β | β | β |
| Returns | ||||||||||
| Return on equity | β10.5% | β58.8% | β75.5% | β110.6% | 160.1% | β12.4% | β15.6% | β10.6% | β6.4% | β32.9% |
| Return on assets | β10.4% | β48.5% | β46.0% | β52.5% | 136.6% | β12.3% | β15.5% | β10.5% | β6.3% | β29.0% |
| Return on tangible equity | β10.5% | β82.2% | β67.8% | β152.8% | 88.0% | β13.0% | β16.7% | β10.9% | β6.5% | β34.0% |
| Growth | ||||||||||
| Revenue growth | β | β3.3% | 486.4% | 44.5% | β | β | β | β | β | β |
| Net income growth | β | β | β | β | β | β113.4% | β | β | β | β |
| EPS growth | β | 300.0% | β190.0% | β | β | β113.4% | β | β | β | β |
| Share count change | β | 0.4% | 15.4% | 11.0% | 6.9% | β0.1% | 0.9% | 4.8% | 4.7% | 3.1% |
| Financial health | ||||||||||
| Current ratio | 26.4x | 2.1x | 14.3x | 8.6x | 10.9x | 6.4x | 5.4x | 6.2x | 32.8x | 1.6x |
| Quick ratio | 26.4x | 2.1x | 14.3x | 8.6x | 10.9x | 6.4x | 5.4x | 6.2x | 32.8x | 1.6x |
| Capital allocation | ||||||||||
| Capex / revenue | 200.0% | 508.5% | 2.0% | 129.0% | β | β | β | β | β | β |
| Stock comp / revenue | 1,008.2% | β1,194.9% | β416.5% | β769.0% | β | β | β | β | β | β |
| Quality scores | ||||||||||
| Piotroski F-score | β | 2.0 | 3.0 | 2.0 | β | β | β | β | β | β |
| Accruals ratio | 8.2% | β13.1% | 0.5% | β8.3% | 143.5% | β9.4% | β13.0% | β8.4% | β5.0% | β26.8% |
Source: SEC EDGAR XBRL filings (CIK 0001543418). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.