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Gold · Basic Materials · Fiscal year ends Dec 31 · Reports in CAD
Trekor Metals reported revenue of CAD 673M in the fiscal year ended Dec 2025, up 10.7% from the year before. Operating income was CAD 20M, an operating margin of 3.0%, and net income was −CAD 30M. Net debt was CAD 559M.
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 | 433 | 392 | 525 | 608 | 673 |
| Cost of revenue | 269 | 337 | 375 | 491 | 525 |
| Gross profit | 164 | 54.2 | 150 | 117 | 148 |
| Operating income | 130 | 55.9 | 125 | 104 | 19.9 |
| Interest expense | 38.9 | 41.8 | 48.2 | 61.9 | 71.4 |
| Pre-tax income | 70.8 | −19.1 | 133 | 18.1 | −49.5 |
| Income tax | 34.3 | 6.8 | 50.1 | 31.5 | −19.4 |
| Net income | 36.5 | −26.0 | 82.7 | −13.4 | −30.1 |
| Diluted EPS | 0.13 | −0.09 | 0.28 | −0.05 | −0.09 |
| Diluted shares | 288 | 286 | 291 | 295 | 323 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 237 | 121 | 96.5 | 173 | 188 |
| Receivables | 9.6 | 13.2 | 16.5 | 5.6 | 13.0 |
| Inventory | 79.9 | 92.8 | 123 | 139 | 134 |
| Current assets | 337 | 241 | 249 | 353 | 345 |
| Net PP&E | 838 | 1,029 | 1,286 | 1,770 | 2,045 |
| Goodwill | 5.2 | 5.6 | 5.5 | 5.9 | 5.7 |
| Total assets | 1,183 | 1,279 | 1,584 | 2,195 | 2,472 |
| Payables | 55.7 | 66.7 | 71.7 | 130 | 100 |
| Current liabilities | 103 | 113 | 141 | 207 | 230 |
| Short-term debt | 18.3 | 18.4 | 27.7 | 32.9 | 35.7 |
| Long-term debt | 513 | 568 | 610 | 764 | 711 |
| Total liabilities | 825 | 922 | 1,150 | 1,692 | 1,694 |
| Shareholders' equity | 359 | 356 | 434 | 503 | 779 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 175 | 81.3 | 151 | 233 | 220 |
| Capital expenditure | 27.9 | – | – | – | – |
| Free cash flow | 147 | – | – | – | – |
| Depreciation & amortisation | 66.6 | 52.0 | 56.9 | 73.9 | 103 |
| Stock-based compensation | 5.8 | 4.2 | 6.3 | 9.4 | 23.2 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −9.6% | 34.1% | 15.8% | 10.7% |
| Operating income growth (YoY) | – | −57.1% | 124.0% | −17.1% | −80.8% |
| EPS growth (YoY) | – | −169.2% | – | −117.9% | – |
| Gross margin | 37.8% | 13.8% | 28.7% | 19.3% | 22.0% |
| Operating margin | 30.1% | 14.3% | 23.8% | 17.1% | 3.0% |
| Net margin | 8.4% | −6.6% | 15.8% | −2.2% | −4.5% |
| Return on equityBlank when equity is negative | 10.2% | −7.3% | 19.1% | −2.7% | −3.9% |
| ROCEEBIT ÷ (assets − current liabilities) | 12.1% | 4.8% | 8.7% | 5.2% | 0.9% |
| Free cash flow margin | 33.9% | – | – | – | – |
| Cash conversion (CFO ÷ net income) | 4.79x | −3.13x | 1.83x | −17.3x | −7.30x |
| Receivable days | 8 | 12 | 11 | 3 | 7 |
| Inventory days | 108 | 100 | 120 | 103 | 93 |
| Payable days | 75 | 72 | 70 | 97 | 70 |
| Interest cover | 3.35x | 1.34x | 2.60x | 1.68x | 0.28x |
| Debt ÷ equity | 1.48x | 1.65x | 1.47x | 1.58x | 0.96x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 295 | 466 | 541 | 624 | 559 |
| Current ratio | 3.26x | 2.14x | 1.77x | 1.71x | 1.50x |
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.