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Gold · Basic Materials · Fiscal year ends Dec 31
Eldorado Gold reported revenue of $1.8B in the fiscal year ended Dec 2025, up 37.5% from the year before. Operating income was $727M, an operating margin of 40.0%, and net income was $504M. Net debt was $406M.
Ranks among the 26 gold companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 941 | 872 | 1,009 | 1,323 | 1,819 |
| Cost of revenue | 651 | 700 | 740 | 816 | 936 |
| Gross profit | 290 | 172 | 268 | 507 | 883 |
| Selling, general & admin | 35.5 | 37.0 | 39.8 | 36.2 | 39.2 |
| Operating income | 218 | 41.7 | 182 | 419 | 727 |
| Interest expense | 71.8 | 41.6 | 32.8 | 23.0 | 31.6 |
| Pre-tax income | 157 | 11.9 | 163 | 435 | 544 |
| Income tax | 138 | 61.2 | 57.6 | 135 | 22.1 |
| Net income | −136 | −427 | 101 | 287 | 504 |
| Diluted EPS | −0.75 | −1.93 | 0.54 | 1.41 | 2.47 |
| Diluted shares | 182 | 183 | 195 | 206 | 205 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 481 | 280 | 540 | 857 | 869 |
| Receivables | 23.0 | 33.7 | 49.4 | 57.8 | 111 |
| Inventory | 178 | 199 | 236 | 279 | 297 |
| Current assets | 728 | 632 | 930 | 1,482 | 1,448 |
| Net PP&E | 4,003 | 3,596 | – | – | – |
| Goodwill | 92.6 | 92.6 | 92.6 | 92.6 | 92.6 |
| Total assets | 4,931 | 4,458 | 4,988 | 5,836 | 6,727 |
| Payables | 195 | 192 | 254 | 367 | 630 |
| Current liabilities | 207 | 211 | 274 | 412 | 789 |
| Short-term debt | 0.0 | – | – | 0.0 | 48.0 |
| Long-term debt | 490 | 494 | 636 | 915 | 1,227 |
| Total liabilities | 1,291 | 1,257 | 1,476 | 1,947 | 2,444 |
| Shareholders' equity | 3,570 | 3,204 | 3,518 | 3,897 | 4,279 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Capital expenditure | 282 | 290 | 402 | 594 | 866 |
| Depreciation & amortisation | 201 | 240 | 261 | 251 | 259 |
| Stock-based compensation | 7.9 | 10.7 | 10.2 | 11.9 | 20.2 |
| Acquisitions | 19.3 | 0.0 | – | – | – |
| Share buybacks | 0.0 | 14.0 | 4.4 | 2.0 | 11.3 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −7.3% | 15.7% | 31.1% | 37.5% |
| Operating income growth (YoY) | – | −80.9% | 336.7% | 130.4% | 73.4% |
| EPS growth (YoY) | – | – | – | 161.1% | 75.2% |
| Gross margin | 30.8% | 19.7% | 26.6% | 38.3% | 48.5% |
| Operating margin | 23.2% | 4.8% | 18.0% | 31.7% | 40.0% |
| Net margin | −14.4% | −49.0% | 10.1% | 21.7% | 27.7% |
| Return on equityBlank when equity is negative | −3.8% | −13.3% | 2.9% | 7.4% | 11.8% |
| ROCEEBIT ÷ (assets − current liabilities) | 4.6% | 1.0% | 3.9% | 7.7% | 12.2% |
| Receivable days | 9 | 14 | 18 | 16 | 22 |
| Inventory days | 100 | 104 | 116 | 125 | 116 |
| Payable days | 110 | 100 | 125 | 164 | 246 |
| Interest cover | 3.04x | 1.00x | 5.54x | 18.2x | 23.0x |
| Debt ÷ equity | 0.14x | 0.15x | 0.18x | 0.23x | 0.30x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 8.4 | 215 | 95.6 | 58.6 | 406 |
| Current ratio | 3.52x | 3.00x | 3.39x | 3.60x | 1.83x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.