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TMQTrilogy Metals Inc.
$3.79$648M
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TMQ logoTrilogy Metals Inc.(TMQ)Earnings, Financials & Key Ratios

TMQ•AMEX
Price updated Jun 19, 2026
SectorBasic MaterialsIndustryIndustrial MaterialsSub-IndustryBase Metals Mining and Smelting
AboutTrilogy Metals Inc., a base metals exploration company, explores for and develops mineral properties in the United States. It principally holds interests in the Upper Kobuk mineral projects that include the Arctic, which contains polymetallic volcanogenic massive sulfide deposits; and Bornite that contains carbonate-hosted copper - cobalt deposits covering an area of approximately 426,690 acres located in the Ambler mining district in Northwest Alaska. The company was formerly known as NovaCopper Inc. and changed its name to Trilogy Metals Inc. in September 2016. Trilogy Metals Inc. was founded in 2004 and is headquartered in Vancouver, Canada.Show more
  • Revenue$0
  • EBITDA-$9M-45.2%
  • Net Income-$42M-406.6%
  • EPS (Diluted)-0.26-398.1%
  • ROE-32.94%-433.1%

TMQ Key Insights

Trilogy Metals Inc. (TMQ) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Company is almost debt free

✗Weaknesses

  • ✗Weak Piotroski F-Score: 2/9
  • ✗Low quality earnings: Net income not backed by cash flow
  • ✗Trading more than 30% below 52-week high
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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TMQ Price & Volume

Trilogy Metals Inc. (TMQ) stock price & volume — 10-year historical chart

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TMQ Growth Metrics

Trilogy Metals Inc. (TMQ) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years-
3 Years-
TTM-100%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-390.99%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM-

Return on Capital

10 Years-35.23%
5 Years-5.26%
3 Years-5.73%
Last Year-7.36%

TMQ Recent Earnings

Trilogy Metals Inc. (TMQ) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 0/12 qtrs (0%)
Q2 2026Latest
Apr 2, 2026
Metric
Actual
Est
EPS
$0.03-200.0%
$0.01
Rev
—
—
Q2 2026
Apr 1, 2026
Metric
Actual
Est
EPS
$0.04-300.0%
$0.01
Rev
—
—
Q1 2026
Feb 17, 2026
Metric
Actual
Est
EPS
$0.11+0.0%
$0.11
Rev
—
—
Q4 2025
Sep 30, 2025
Metric
Actual
Est
EPS
$0.01+0.0%
$0.01
Rev
—
—
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 2, 2026
$0.03vs $0.01-200.0%
—
Q2 2026Apr 1, 2026
$0.04vs $0.01-300.0%
—
Q1 2026Feb 17, 2026
$0.11vs $0.11+0.0%
—
Q4 2025Sep 30, 2025
$0.01vs $0.01+0.0%
—
Based on last 12 quarters of dataView full earnings history →

TMQ Peer Comparison

Trilogy Metals Inc. (TMQ) competitors in Base Metals Mining and Smelting — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
USAS logoUSASAmericas Gold and Silver CorporationDirect Competitor1.43B5.36-16.2417.71%-36.33%-41.36%0.21
KORE logoKOREKORE Group Holdings, Inc.Direct Competitor181.39M9.20-2.88-0.05%-27.37%
FCX logoFCXFreeport-McMoRan Inc.Product Competitor98.7B68.6845.181.12%10.34%8.91%0.37
SCCO logoSCCOSouthern Copper CorporationProduct Competitor159.37B192.9336.8217.38%32.3%41.97%0.67
TECK logoTECKTeck Resources LimitedProduct Competitor30.99B64.3632.0818.56%14.91%7.09%0.40
CDE logoCDECoeur Mining, Inc.Product Competitor11.4B17.5119.4696.41%31.15%15.17%0.11
HL logoHLHecla Mining CompanyProduct Competitor10.7B15.9632.5753.03%35.55%22.55%0.12
CAT logoCATCaterpillar Inc.Supply Chain458.69B985.8252.354.29%13.31%47.51%2.03

Compare TMQ vs Peers

Trilogy Metals Inc. (TMQ) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs USAS

Most directly comparable listed peer for TMQ.

Scale Benchmark

vs CAT

Larger-name benchmark to compare TMQ against a more recognizable public peer.

Peer Set

Compare Top 5

vs USAS, KORE, FCX, SCCO

TMQ Income Statement

Trilogy Metals Inc. (TMQ) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricNov'17Nov'18Nov'19Nov'20Nov'21Nov'22Nov'23Nov'24Nov'25
Sales/Revenue
15.1M16.49M16.49M000000
Revenue Growth %
199.78%9.21%0%-100%-----
Cost of Goods Sold
15.1M16.49M19.21M1.54M20.59K16.4K7.96K3.89K0
COGS % of Revenue
100%100%116.5%------
Gross Profit
0▲ 0%
0▲ 0%
-2.72M▲ 0%
-1.54M▲ 43.2%
-20.59K▲ 98.7%
-16.4K▲ 20.4%
-7.96K▲ 51.4%
-3.89K▲ 51.2%
0▲ 100.0%
Gross Margin %
---16.5%------
Gross Profit Growth %
---43.22%98.67%20.35%51.44%51.16%100%
Operating Expenses
4.22M5.46M9.21M10.56M7.96M6.68M7.08M6.51M9.46M
OpEx % of Revenue
27.98%33.1%55.87%------
Selling, General & Admin
4.12M5.3M8.38M10.47M8.42M6.88M7.08M2.14M3.39M
SG&A % of Revenue
27.27%32.13%50.81%------
Research & Development
000000000
R&D % of Revenue
---------
Other Operating Expenses
107K160K834K91K-459K-196.83K04.37M6.07M
Operating Income
-21.05M▲ 0%
-21.5M▼ 2.2%
-28.44M▼ 32.3%
-187.82M▼ 560.3%
-8.41M▲ 95.5%
-6.74M▲ 19.9%
-7.08M▼ 5.1%
-6.52M▲ 8.0%
-9.46M▼ 45.1%
Operating Margin %
-139.37%-130.4%-172.49%------
Operating Income Growth %
-338.35%-2.18%-32.27%-560.35%95.52%19.87%-5.06%8%-45.09%
EBITDA
-20.94M-21.35M-28.23M-187.54M-8.39M-6.73M-7.08M-6.51M-9.46M
EBITDA Margin %
-138.65%-129.46%-171.21%------
EBITDA Growth %
-343.3%-1.96%-32.25%-564.28%95.52%19.86%-5.19%7.95%-45.18%
D&A (Non-Cash Add-back)
108.18K155.41K211.12K283.23K21K16.4K8K3.89K0
EBIT
-21.34M-21.22M-27.92M-11.57M-7.98M-6.85M-7.09M-8.35M-9.46M
Net Interest Income
000016K34K120K00
Interest Income
59K346K500K87K16K34K120K00
Interest Expense
59K346K0000000
Other Income/Expense
-2.46M160.73K-315K173.25M-13.7M-17.51M-7.8M-1.84M-32.86M
Pretax Income
-21.1M▲ 0%
-21.85M▼ 3.5%
-27.91M▼ 27.7%
161.77M▲ 679.7%
-21.66M▼ 113.4%
-24.26M▼ 12.0%
-14.89M▲ 38.6%
-8.35M▲ 43.9%
-42.32M▼ 406.6%
Pretax Margin %
-139.76%-132.5%-169.22%------
Income Tax
59K346K-519K000000
Effective Tax Rate %
-0.28%-1.58%1.86%0%0%0%0%0%0%
Net Income
-21.1M▲ 0%
-21.85M▼ 3.5%
-27.39M▼ 25.3%
161.77M▲ 690.7%
-21.68M▼ 113.4%
-24.26M▼ 11.9%
-14.95M▲ 38.4%
-8.35M▲ 44.1%
-42.32M▼ 406.6%
Net Margin %
-139.76%-132.5%-166.08%------
Net Income Growth %
-334.06%-3.53%-25.34%690.69%-113.4%-11.89%38.36%44.13%-406.61%
Net Income (Continuing)
-21.1M-21.85M-27.92M161.77M-21.66M-24.26M-14.95M-8.35M-42.32M
Discontinued Operations
000000000
Minority Interest
000000000
EPS (Diluted)
-0.20▲ 0%
-0.18▲ 10.0%
-0.20▼ 11.1%
2.33▲ 1265.0%
-0.15▼ 106.4%
-0.17▼ 13.3%
-0.10▲ 42.6%
-0.05▲ 46.5%
-0.26▼ 398.1%
EPS Growth %
-331.97%10%-11.11%1265%-106.44%-13.33%42.65%46.46%-398.08%
EPS (Basic)
-0.20-0.18-0.202.39-0.15-0.17-0.10-0.05-0.26
Diluted Shares Outstanding
105.56M121.78M135.23M144.6M144.43M145.72M152.65M159.83M164.82M
Basic Shares Outstanding
105.56M121.78M135.23M141.46M144.43M145.72M152.65M159.83M164.82M
Dividend Payout Ratio
---------

TMQ Balance Sheet

Trilogy Metals Inc. (TMQ) balance sheet — assets, liabilities & shareholders' equity

MetricNov'17Nov'18Nov'19Nov'20Nov'21Nov'22Nov'23Nov'24Nov'25
Total Current Assets
9.21M23.63M20.16M11.44M6.61M2.91M2.88M26.05M51.92M
Cash & Short-Term Investments
7.91M22.99M19.17M11.13M6.31M2.57M2.85M25.83M51.61M
Cash Only
5.39M22.99M19.17M11.13M6.31M2.57M2.59M25.83M51.61M
Short-Term Investments
2.52M00000259K00
Accounts Receivable
470K23K264K114K19K17K33K16K118K
Days Sales Outstanding
11.360.515.84------
Inventory
0000-9340000
Days Inventory Outstanding
---------
Other Current Assets
837K0015K0000193K
Total Non-Current Assets
31.07M31.03M31.46M173.83M160.69M143.09M135.14M107.65M105.38M
Property, Plant & Equipment
31.07M30.91M31.35M682K630K331K117K155K117K
Fixed Asset Turnover
0.49x0.53x0.53x------
Goodwill
000000000
Intangible Assets
000000000
Long-Term Investments
0114K114K173.15M160.06M142.75M135.02M107.39M0
Other Non-Current Assets
0000000106.74K105.26M
Total Assets
40.28M▲ 0%
54.66M▲ 35.7%
51.62M▼ 5.6%
185.26M▲ 258.9%
167.31M▼ 9.7%
146M▼ 12.7%
138.02M▼ 5.5%
133.7M▼ 3.1%
157.3M▲ 17.7%
Asset Turnover
0.37x0.30x0.32x------
Asset Growth %
-13.84%35.7%-5.57%258.92%-9.69%-12.74%-5.46%-3.13%17.66%
Total Current Liabilities
4.25M1.66M2.35M1.05M1.03M534K465K793K33.11M
Accounts Payable
2.77M408K902K226K205K188K146K196K0
Days Payables Outstanding
66.889.0317.1453.393.63K4.18K6.69K18.39K-
Short-Term Debt
0000000041K
Deferred Revenue (Current)
000000000
Other Current Liabilities
0000000033.07M
Current Ratio
2.17x14.26x8.56x10.93x6.41x5.45x6.20x32.84x1.57x
Quick Ratio
2.17x14.26x8.56x10.93x6.41x5.45x6.20x32.84x1.57x
Cash Conversion Cycle
---------
Total Non-Current Liabilities
10.37M20.8M31M408K235K33K0110K70K
Long-Term Debt
0000033.33K0109.89K70K
Capital Lease Obligations
000408K235K33K0110K0
Deferred Tax Liabilities
000000000
Other Non-Current Liabilities
10.37M20.8M31M00-33.33K0-109.89K0
Total Liabilities
14.61M22.46M33.35M1.45M1.27M567K465K903K33.18M
Total Debt
000566K414K222K33K147K111K
Net Debt
-5.39M-22.99M-19.17M-10.56M-5.89M-2.35M-2.56M-25.69M-51.5M
Debt / Equity
---0.00x0.00x0.00x0.00x0.00x0.00x
Debt / EBITDA
---------
Net Debt / EBITDA
---------
Interest Coverage
-356.69x-62.15x-------
Total Equity
25.66M▲ 0%
32.2M▲ 25.5%
18.26M▼ 43.3%
183.81M▲ 906.5%
166.04M▼ 9.7%
145.43M▼ 12.4%
137.56M▼ 5.4%
132.79M▼ 3.5%
124.12M▼ 6.5%
Equity Growth %
-44.39%25.47%-43.29%906.47%-9.67%-12.41%-5.41%-3.46%-6.53%
Book Value per Share
0.240.260.141.271.151.000.900.830.75
Total Shareholders' Equity
25.66M32.2M18.26M183.81M166.04M145.43M137.56M132.79M124.12M
Common Stock
136.53M164.07M177.97M179.75M180.82M182.18M187.89M190.5M225.24M
Retained Earnings
-132.87M-154.81M-182.71M-20.95M-42.6M-66.86M-81.81M-90.31M-132.21M
Treasury Stock
000000000
Accumulated OCI
-3.34M-3.47M0000000
Minority Interest
000000000

TMQ Cash Flow Statement

Trilogy Metals Inc. (TMQ) cash flow — operating, investing & free cash flow history

MetricNov'17Nov'18Nov'19Nov'20Nov'21Nov'22Nov'23Nov'24Nov'25
Cash from Operations
-15.41M-22.07M-23.49M-8.25M-5.12M-3.94M-3.09M-1.83M-3.25M
Operating CF Margin %
-102.06%-133.84%-142.46%------
Operating CF Growth %
-77.3%-43.21%-6.44%64.88%37.98%23.1%21.4%40.9%-78%
Net Income
-21.1M-21.85M-27.91M161.77M-21.66M-24.26M-14.95M-8.35M0
Depreciation & Amortization
107K160K211K273K21K17K8K3.89K108K
Stock-Based Compensation
705K1.44M3.85M3.56M3.47M3.43M3.89M3.52M0
Deferred Taxes
000-172.87M13.09M0000
Other Non-Cash Items
1.84M219K1K-189K-15K17.45M7.96M2.6M-5.03M
Working Capital Changes
3.04M-2.04M356K-796K-27K-568K4K405K1.67M
Change in Receivables
-423K447K-241K135K110K2K6.97K17K8.01K
Change in Inventory
00-697.39K1.52M35.3K488.2K000
Change in Payables
3.62M-2.52M697.39K-1.52M-35.3K-488.2K000
Cash from Investing
13.54M12.72M9.55M0-119K142K025M-1M
Capital Expenditures
-300K-7K-645K0-119K0000
CapEx % of Revenue
1.99%0.04%3.91%------
Acquisitions
10.48M10.14M10.21M00137K025M0
Investments
---------
Other Investing
10.37M10.44M-5.78K005K000
Cash from Financing
-90K26.95M10.12M217K416K54K3.12M71.98K30.06M
Debt Issued (Net)
0000-14.71K0000
Equity Issued (Net)
01000K00407.99K52.1K1000K71.98K1000K
Dividends Paid
000000000
Share Repurchases
-90K00000000
Other Financing
-90K-1.8M10.12M217K22.72K1.9K13.29K00
Net Change in Cash
-1.95M▲ 0%
17.6M▲ 1003.0%
-3.82M▼ 121.7%
-8.05M▼ 110.9%
-4.82M▲ 40.2%
-3.73M▲ 22.5%
17K▲ 100.5%
23.24M▲ 136629.4%
-3.96M▼ 117.1%
Free Cash Flow
-15.71M▲ 0%
-22.08M▼ 40.5%
-24.14M▼ 9.3%
-8.25M▲ 65.8%
-5.24M▲ 36.5%
-3.94M▲ 24.8%
-3.09M▲ 21.4%
-1.83M▲ 40.9%
-3.25M▼ 78.0%
FCF Margin %
-104.05%-133.88%-146.37%------
FCF Growth %
-78.25%-40.52%-9.33%65.82%36.54%24.85%21.4%40.9%-78%
FCF per Share
-0.15-0.18-0.18-0.06-0.04-0.03-0.02-0.01-0.02
FCF Conversion (FCF/Net Income)
0.73x1.01x0.86x-0.05x0.24x0.16x0.21x0.22x0.08x
Interest Paid
000000000
Taxes Paid
000000000

TMQ Key Ratios

Trilogy Metals Inc. (TMQ) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)
-10.07%-58.77%-75.51%-108.53%160.11%-12.39%-15.58%-10.57%-6.18%-32.94%
Return on Invested Capital (ROIC)
-9.85%-53.42%-109.39%-514.03%-163.47%-3.79%-3.34%-3.82%-4.04%-7.89%
Gross Margin
----16.5%------
Net Margin
-96.53%-139.76%-132.5%-166.08%------
Debt / Equity
----0.00x0.00x0.00x0.00x0.00x0.00x
Interest Coverage
-78.70x-356.69x-62.15x-------
FCF Conversion
1.79x0.73x1.01x0.86x-0.05x0.24x0.16x0.21x0.22x0.08x
Revenue Growth
12.53%199.78%9.21%0%-100%-----
Related:TMQ Dividend History·TMQ Revenue History·TMQ Price History·TMQ P/E History·TMQ Financial Ratios·TMQ Institutional Holders

TMQ SEC Filings & Documents

Trilogy Metals Inc. (TMQ) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 2, 2026·SEC

Material company update

Mar 27, 2026·SEC

Material company update

Feb 23, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 17, 2026·SEC

FY 2025

Feb 14, 2025·SEC

FY 2024

Feb 9, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Apr 2, 2026·SEC

FY 2025

Oct 1, 2025·SEC

FY 2025

Jul 10, 2025·SEC

TMQ Frequently Asked Questions

Trilogy Metals Inc. (TMQ) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Trilogy Metals Inc. (TMQ) grew revenue by 0.0% over the past year. Growth has been modest.

Trilogy Metals Inc. (TMQ) reported a net loss of $42.2M for fiscal year 2025.

Dividend & Returns

Trilogy Metals Inc. (TMQ) has a return on equity (ROE) of -32.9%. Negative ROE indicates the company is unprofitable.

Trilogy Metals Inc. (TMQ) had negative free cash flow of $3.3M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in TMQ back in 2010?

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