1.Sales and profit
See section β- TRX GOLD Corp had $57.6M of revenue in fiscal 2025, up 40.0% on the year before.
- TRX GOLD Corp made $0.7M of net profit in fiscal 2025.
TRX GOLD Corp
TRX NYSE Gold And Silver Ores Financials FY2019βFY2025
TRX GOLD Corp had $57.6M of revenue in fiscal 2025, up 40.0% on the year before.
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3-page PDF: the company, its results and charts with peers.
KIRAβs summary AI analyst
Hi! I read TRX GOLD Corpβs latest annual report (fiscal 2025). Here is what stands out:
3 strengths
2.Cash and shareholders
See section β- Free cash flow was $3.5M in fiscal 2025, 6.1% of revenue.
- No open-market insider trades in the last 12 months.
3.Financial health
See section β- TRX GOLD Corp passes 6 of 7 financial health tests (Piotroski F-score).
TRX GOLD Corp in 30 seconds
Good So-so Weak
Good
Are sales growing?
+40.0%
Yes. Sales grew 40.0% last year.
So-so
Does it make a profit?
1.2%
A little. It keeps 1.2% of every sale as profit.
So-so
Does profit turn into cash?
6.1%
Partly. 6.1% of sales ends up as free cash.
So-so
How healthy are the accounts?
6 / 7
Mixed. It passes 6 of 7 health tests.
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.
β
P/E
Last close divided by diluted earnings per share over the last four quarters.
β
On β$0.01 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 TRX GOLD Corp did it, and the next one. Share prices often move a lot on those days.
Next results
December 7, 2026
Monday Β· in 42 days
- Time
- Time not announced
- Covers
- Period ended Aug 31, 2026
- Expected EPS
- $0.02
- Source
- Earnings calendar
| Date | Results for | Time | Source |
|---|---|---|---|
| Dec 1, 2025 | Q4 '25 | After the market closes | 40-F β |
| Nov 29, 2024 | Q4 '24 | After the market closes | 40-F β |
| Nov 29, 2023 | Q4 '23 | After the market closes | 40-F β |
| Nov 29, 2022 | Period ended Aug 31, 2022 | After the market closes | 40-F β |
| Dec 3, 2021 | Period ended Aug 31, 2021 | Time not announced | 20-F β |
| Dec 2, 2020 | Period ended Aug 31, 2020 | Time not announced | 20-F β |
| Dec 2, 2019 | Period ended Aug 31, 2019 | Before the market opens | 20-F β |
| Nov 30, 2018 | Period ended Aug 31, 2018 | Before the market opens | 20-F β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
Revenue and margins
KIRA Β· TRX GOLD Corp had $57.6M of revenue in fiscal 2025, up 40.0% on the year before.
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
FY19
Revenue β$0.0M
FY20
Revenue β$0.0M
FY21
Revenue β$0.0M
FY22
Revenue $15.1M
FY23
Revenue $38.3M
FY24
Revenue $41.2M
FY25
Revenue $57.6M
Revenue
Q2 '23
Revenue $10.1M
Q3 '23
Revenue $9.3M
Q4 '23
Revenue $9.2M
Q1 '24
Revenue $9.4M
Q2 '24
Revenue $8.0M
Q3 '24
Revenue $10.1M
Q4 '24
Revenue $13.6M
Q1 '25
Revenue $12.5M
Q2 '25
Revenue $9.1M
Q3 '25
Revenue $12.5M
Q4 '25
Revenue $23.5M
Q1 '26
Revenue $25.1M
Margins, % of revenue
FY19
Gross β
Operating β
Net 176,776.9%
FCF 30,338.5%
FY20
Gross β
Operating β
Net 67,452.9%
FCF 42,776.5%
FY21
Gross β
Operating β
Net 57,200.0%
FCF 122,100.0%
FY22
Gross 62.1%
Operating β
Net β15.4%
FCF β64.5%
FY23
Gross 47.5%
Operating β
Net 5.9%
FCF 3.7%
FY24
Gross 43.6%
Operating β
Net β1.1%
FCF 5.0%
FY25
Gross 41.5%
Operating β
Net 1.2%
FCF 6.1%
Gross
Operating
Net
FCF
Margins, % of revenue
Q2 '23
Gross 48.7%
Operating β
Net β0.5%
FCF 5.6%
Q3 '23
Gross 41.7%
Operating β
Net β4.0%
FCF β20.0%
Q4 '23
Gross 44.4%
Operating β
Net β27.1%
FCF 16.0%
Q1 '24
Gross 39.5%
Operating β
Net β0.4%
FCF 15.5%
Q2 '24
Gross 41.0%
Operating β
Net 24.1%
FCF β1.7%
Q3 '24
Gross 42.9%
Operating β
Net β16.3%
FCF β1.3%
Q4 '24
Gross 48.4%
Operating β
Net β5.1%
FCF 6.3%
Q1 '25
Gross 38.6%
Operating β
Net 17.1%
FCF β6.2%
Q2 '25
Gross 23.5%
Operating β
Net β21.3%
FCF 2.8%
Q3 '25
Gross 35.1%
Operating β
Net 8.9%
FCF β1.4%
Q4 '25
Gross 53.5%
Operating β
Net β2.6%
FCF 17.8%
Q1 '26
Gross 56.6%
Operating β
Net β2.0%
FCF 2.2%
Gross
Operating
Net
FCF
Net income and earnings per share
KIRA Β· TRX GOLD Corp made $0.7M of net profit 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
FY19
Net income β$23.0M
FY20
Net income β$11.5M
FY21
Net income β$4.0M
FY22
Net income β$2.3M
FY23
Net income $2.3M
FY24
Net income β$0.5M
FY25
Net income $0.7M
Net income
Q2 '23
Net income β$0.1M
Q3 '23
Net income β$0.4M
Q4 '23
Net income β$2.5M
Q1 '24
Net income β$0.0M
Q2 '24
Net income $1.9M
Q3 '24
Net income β$1.7M
Q4 '24
Net income β$0.7M
Q1 '25
Net income $2.1M
Q2 '25
Net income β$1.9M
Q3 '25
Net income $1.1M
Q4 '25
Net income β$0.6M
Q1 '26
Net income β$0.5M
Diluted EPS
FY19
Diluted EPS β
FY20
Diluted EPS β
FY21
Diluted EPS β
FY22
Diluted EPS β$0.02
FY23
Diluted EPS $0.01
FY24
Diluted EPS $0.00
FY25
Diluted EPS $0.00
Diluted EPS
Q2 '23
Diluted EPS $0.00
Q3 '23
Diluted EPS $0.00
Q4 '23
Diluted EPS β
Q1 '24
Diluted EPS $0.00
Q2 '24
Diluted EPS $0.00
Q3 '24
Diluted EPS β$0.01
Q4 '24
Diluted EPS $0.01
Q1 '25
Diluted EPS $0.00
Q2 '25
Diluted EPS β$0.01
Q3 '25
Diluted EPS $0.00
Q4 '25
Diluted EPS $0.01
Q1 '26
Diluted EPS β$0.01
Cash and shareholders
How much cash comes in, and where does it go?
Cash flow
KIRA Β· Free cash flow was $3.5M in fiscal 2025, 6.1% of revenue.
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
FY19
Free cash flow β$3.9M
FY20
Free cash flow β$7.3M
FY21
Free cash flow β$8.5M
FY22
Free cash flow β$9.7M
FY23
Free cash flow $1.4M
FY24
Free cash flow $2.1M
FY25
Free cash flow $3.5M
Free cash flow
Q2 '23
Free cash flow $0.6M
Q3 '23
Free cash flow β$1.9M
Q4 '23
Free cash flow $1.5M
Q1 '24
Free cash flow $1.5M
Q2 '24
Free cash flow β$0.1M
Q3 '24
Free cash flow β$0.1M
Q4 '24
Free cash flow $0.9M
Q1 '25
Free cash flow β$0.8M
Q2 '25
Free cash flow $0.3M
Q3 '25
Free cash flow β$0.2M
Q4 '25
Free cash flow $4.2M
Q1 '26
Free cash flow $0.6M
Cash from operations vs capital spending
FY19
Cash from operations β$3.9M
Capital spending $0.0M
FY20
Cash from operations β$6.6M
Capital spending $0.7M
FY21
Cash from operations β$7.5M
Capital spending $1.0M
FY22
Cash from operations $3.0M
Capital spending $12.7M
FY23
Cash from operations $17.3M
Capital spending $15.9M
FY24
Cash from operations $15.3M
Capital spending $13.3M
FY25
Cash from operations $16.3M
Capital spending $12.8M
Cash from operations
Capital spending
Cash from operations vs capital spending
Q2 '23
Cash from operations $4.8M
Capital spending $4.2M
Q3 '23
Cash from operations $3.2M
Capital spending $5.0M
Q4 '23
Cash from operations $2.7M
Capital spending $1.3M
Q1 '24
Cash from operations $5.1M
Capital spending $3.7M
Q2 '24
Cash from operations $1.0M
Capital spending $1.2M
Q3 '24
Cash from operations $3.1M
Capital spending $3.2M
Q4 '24
Cash from operations $6.0M
Capital spending $5.2M
Q1 '25
Cash from operations $2.4M
Capital spending $3.2M
Q2 '25
Cash from operations $2.0M
Capital spending $1.8M
Q3 '25
Cash from operations $3.4M
Capital spending $3.6M
Q4 '25
Cash from operations $8.5M
Capital spending $4.3M
Q1 '26
Cash from operations $4.0M
Capital spending $3.5M
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
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)
FY19
Diluted shares 0.14B
FY20
Diluted shares 0.17B
FY21
Diluted shares 0.23B
FY22
Diluted shares β
FY23
Diluted shares β
FY24
Diluted shares β
FY25
Diluted shares β
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 TRX GOLD Corp 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)
FY19
Cash β
Debt β
FY20
Cash $4.1M
Debt β
FY21
Cash $13.4M
Debt β
FY22
Cash $8.5M
Debt β
FY23
Cash $7.6M
Debt β
FY24
Cash $8.3M
Debt β
FY25
Cash $7.8M
Debt β
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $13.4M | $8.5M | $7.6M | $8.3M | $7.8M |
| Current ratio | 2.1x | 0.9x | 1.0x | 0.8x | 1.1x |
| Quick ratio | 1.9x | 0.7x | 0.7x | 0.5x | 0.5x |
| Total assets | $56.5M | $71.8M | $84.2M | $98.9M | $117M |
| Total liabilities | $10.1M | $20.7M | $23.1M | $32.8M | $43.0M |
| Shareholders' equity | $48.0M | $48.8M | $53.9M | $54.9M | $57.3M |
| 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)
FY19
Return on capital β
Return on equity β166.6%
Return on assets β80.2%
FY20
Return on capital β
Return on equity β58.9%
Return on assets β34.3%
FY21
Return on capital β
Return on equity β11.0%
Return on assets β8.5%
FY22
Return on capital β
Return on equity β4.8%
Return on assets β3.6%
FY23
Return on capital β
Return on equity 4.4%
Return on assets 2.9%
FY24
Return on capital β
Return on equity β0.9%
Return on assets β0.5%
FY25
Return on capital β
Return on equity 1.2%
Return on assets 0.6%
Return on capital
Return on equity
Return on assets
Piotroski F-score
KIRA Β· TRX GOLD Corp passes 6 of 7 financial health tests (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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β |
| F-score | β / 3 | 4 / 7 | 3 / 7 | β / 6 | 6 / 7 | 2 / 7 | 6 / 7 |
| Accruals ratio | β66.5% | β14.6% | 7.4% | β8.2% | β19.3% | β17.2% | β14.4% |
| Altman Z'' | β | β | β | β | β | β | β |
All figures
Every number, year by year.
7 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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | β$0.0M | β$0.0M | β$0.0M | $15.1M | $38.3M | $41.2M | $57.6M |
| Net interest income | β$0.0M | β$0.0M | β$0.0M | β$0.5M | β$1.7M | β$2.0M | β$2.4M |
| Gross profit | β | β | β | $9.4M | $18.2M | $17.9M | $23.9M |
| Interest expense | β$0.5M | β$2.0M | β | β | β | β | $1.0M |
| Pretax income | $23.1M | $12.1M | β$5.3M | β$1.9M | $12.4M | $10.3M | $14.5M |
| Income tax | β | β | β | $0.4M | $5.3M | $6.8M | $7.9M |
| Net income | β$23.0M | β$11.5M | β$4.0M | β$2.3M | $2.3M | β$0.5M | $0.7M |
| Net income to common | β$23.0M | β$11.5M | β$4.0M | β | $2.3M | β$0.5M | $0.7M |
| Diluted EPS | β | β | β | β$0.02 | $0.01 | $0.00 | $0.00 |
| Diluted shares | 0.14B | 0.17B | 0.23B | β | β | β | β |
| Cash flow | |||||||
| Cash from operations | β$3.9M | β$6.6M | β$7.5M | $3.0M | $17.3M | $15.3M | $16.3M |
| Capital expenditure | $0.0M | $0.7M | $1.0M | $12.7M | $15.9M | $13.3M | $12.8M |
| Free cash flow | β$3.9M | β$7.3M | β$8.5M | β$9.7M | $1.4M | $2.1M | $3.5M |
| Stock-based compensation | β | $0.0M | $2.9M | $2.5M | β | β | β |
| Balance sheet | |||||||
| Cash and short-term investments | β | $4.1M | $13.4M | $8.5M | $7.6M | $8.3M | $7.8M |
| Current assets | $3.5M | $5.4M | $15.4M | $15.9M | $17.2M | $17.8M | $25.8M |
| Current liabilities | $10.9M | $10.6M | $7.4M | $17.3M | $17.8M | $21.3M | $24.5M |
| Inventory | $0.4M | $0.7M | $1.2M | $3.6M | $5.0M | $6.2M | $13.0M |
| Property and equipment, net | $1.3M | $1.7M | $2.5M | $51.6M | $64.1M | $77.8M | $87.5M |
| Total assets | $28.6M | $38.1M | $56.5M | $71.8M | $84.2M | $98.9M | $117M |
| Total liabilities | $14.8M | $13.3M | $10.1M | $20.7M | $23.1M | $32.8M | $43.0M |
| Shareholders' equity | $13.8M | $25.1M | $48.0M | $48.8M | $53.9M | $54.9M | $57.3M |
| Margins | |||||||
| Gross margin | β | β | β | 62.1% | 47.5% | 43.6% | 41.5% |
| Net margin | 176,776.9% | 67,452.9% | 57,200.0% | β15.4% | 5.9% | β1.1% | 1.2% |
| FCF margin | 30,338.5% | 42,776.5% | 122,100.0% | β64.5% | 3.7% | 5.0% | 6.1% |
| Net interest share of revenue | 100.0% | 100.0% | 100.0% | β3.2% | β4.5% | β4.9% | β4.1% |
| Returns | |||||||
| Return on equity | β166.6% | β58.9% | β11.0% | β4.8% | 4.4% | β0.9% | 1.2% |
| Return on assets | β80.2% | β34.3% | β8.5% | β3.6% | 2.9% | β0.5% | 0.6% |
| Return on tangible equity | β166.6% | β45.6% | β8.3% | β4.8% | 4.2% | β0.9% | 1.2% |
| Growth | |||||||
| Revenue growth | β | β | β | β | 153.9% | 7.4% | 40.0% |
| Net income growth | β | β | β | β | β | β120.9% | β |
| EPS growth | β | β | β | β | β | β100.0% | β |
| FCF growth | β | β | β | β | β | 46.4% | 69.9% |
| Share count change | β | 22.4% | 39.5% | β | β | β | β |
| Financial health | |||||||
| Current ratio | 0.3x | 0.5x | 2.1x | 0.9x | 1.0x | 0.8x | 1.1x |
| Quick ratio | 0.3x | 0.4x | 1.9x | 0.7x | 0.7x | 0.5x | 0.5x |
| Capital allocation | |||||||
| Capex / revenue | β138.5% | β3,958.8% | β14,714.3% | 84.1% | 41.6% | 32.2% | 22.2% |
| Stock comp / revenue | β | 0.0% | β41,428.6% | 16.6% | β | β | β |
| Quality scores | |||||||
| Piotroski F-score | β | 4.0 | 3.0 | β | 6.0 | 2.0 | 6.0 |
| Accruals ratio | β66.5% | β14.6% | 7.4% | β8.2% | β19.3% | β17.2% | β14.4% |
Source: SEC EDGAR XBRL filings (CIK 0001173643). 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.