The company's financial leverage has increased as total debt climbed to $247.5 million by 2026Q1, contributing to a deteriorating current ratio of 0.65 that warrants caution regarding short-term liquidity.
| Total Current Assets | 750.87M | 763.71M | 449.29M | 290.79M | 160.84M |
| Cash & Short-Term Investments | 425.6M | 479.78M | 224.99M | 157.83M | 45.14M |
| Cash Only | 425.6M | 479.78M | 224.99M | 157.83M | 45.14M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 87.61M | 74.28M | 35.66M | 24.13M | 38.04M |
| Days Sales Outstanding | 14.53 | 20.36 | 17.82 | 13.43 | 20.74 |
| Inventory | 154.79M | 140.14M | 164.86M | 88.16M | 63.32M |
| Days Inventory Outstanding | 58.3 | 61.98 | 117.95 | 58.62 | 47.47 |
| Other Current Assets | 38.7M | 26.7M | 0 | 0 | 0 |
| Total Non-Current Assets | 1.5B | 1.36B | 870.57M | 660.6M | 497.86M |
| Property, Plant & Equipment | 1.37B | 1.24B | 795.64M | 597.49M | 445.71M |
| Fixed Asset Turnover | 1.17x | 1.07x | 0.92x | 1.10x | 1.50x |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 104.42M | 17.08M | 6.49M | 6.85M | 14.1M |
| Other Non-Current Assets | 116.33M | 98.89M | 46.78M | 20.31M | 29.89M |
| Total Assets | 2.25B | 2.12B | 1.32B | 951.39M | 658.7M |
| Asset Turnover | 0.73x | 0.63x | 0.55x | 0.69x | 1.02x |
| Asset Growth % | 240.32% | 60.9% | 38.73% | 44.44% | - |
| Total Current Liabilities | 1.16B | 988.56M | 485M | 248.35M | 238.24M |
| Accounts Payable | 152.08M | 118.38M | 132.27M | 109.55M | 70.48M |
| Days Payables Outstanding | 51.91 | 52.36 | 94.63 | 72.85 | 52.84 |
| Short-Term Debt | 223.14M | 154.31M | 96.36M | 0 | 21.41M |
| Deferred Revenue (Current) | 183.69M | 67.43M | 40.88M | 0 | 0 |
| Other Current Liabilities | 476.45M | 213.51M | 22.53M | 110.67M | 113.44M |
| Current Ratio | 0.65x | 0.77x | 0.93x | 1.17x | 0.68x |
| Quick Ratio | 0.51x | 0.63x | 0.59x | 0.82x | 0.41x |
| Cash Conversion Cycle | 20.92 | 29.98 | 41.14 | -0.79 | 15.37 |
| Total Non-Current Liabilities | 645.23M | 630.44M | 418.55M | 323.96M | 309.15M |
| Long-Term Debt | 0 | 0 | 0 | 102.93M | 32.1M |
| Capital Lease Obligations | 62.02M | 12.46M | 28.34M | 0 | 0 |
| Deferred Tax Liabilities | 223.83M | 56.07M | 15.3M | 3.11M | 12.12M |
| Other Non-Current Liabilities | 235M | 232.53M | 210.37M | 199.35M | 246.78M |
| Total Liabilities | 1.81B | 1.62B | 903.56M | 572.31M | 547.38M |
| Total Debt | 247.53M | 169.77M | 127.58M | 102.93M | 53.51M |
| Net Debt | -178.06M | -310M | -97.42M | -54.9M | 8.37M |
| Debt / Equity | 0.55x | 0.34x | 0.31x | 0.27x | 0.48x |
| Debt / EBITDA | 0.56x | 0.39x | 0.70x | 1.17x | 0.28x |
| Net Debt / EBITDA | -0.41x | -0.71x | -0.53x | -0.62x | 0.04x |
| Interest Coverage | 24.31x | 22.34x | -0.77x | -5.75x | 3.41x |
| Total Equity | 447.02M | 504.68M | 416.3M | 379.08M | 111.31M |
| Equity Growth % | 91.08% | 21.23% | 9.82% | 240.55% | - |
| Book Value per Share | 3.57 | 4.38 | 4.64 | 4.54 | 1.33 |
| Total Shareholders' Equity | 335.73M | 407.61M | 345.76M | 298.37M | 45.29M |
| Common Stock | 827.71M | 813.36M | 587.12M | 416.51M | 93M |
| Retained Earnings | -340.25M | -280.29M | -236.79M | -120.26M | -31.09M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -151.73M | -124.71M | -4.56M | 2.12M | -46.11M |
| Minority Interest | 111.3M | 97.07M | 70.53M | 80.71M | 66.02M |
Jurisdictional and capital intensity
As reported in financial statements, Allied Gold's total assets have surged from $951.4 million in 2023Q4 to $2.3 billion by 2026Q1, a rapid expansion that reflects aggressive inorganic growth and capital deployment, though this trajectory has significantly outpaced the company's ability to build a corresponding equity cushion.
The rapid growth in total assets appears driven by the consolidation of mining properties, yet the persistent negative retained earnings suggest that this expansion has not yet translated into accretive value for shareholders. Investors should monitor whether this asset-heavy trajectory can eventually generate sufficient returns to justify the substantial increase in the company's overall balance sheet footprint.
Based on the company's reported figures, total debt has climbed from $102.9 million in 2023Q4 to $247.5 million in 2026Q1, pushing the debt-to-equity ratio to 0.55, which suggests that management is increasingly relying on external financing to fund its ambitious development pipeline and operational requirements.
While the current debt-to-equity ratio remains relatively manageable for a mid-tier producer, the upward trend warrants caution given the company's history of net losses. The reliance on debt to bridge the gap between operating cash flow and capital expenditure suggests that refinancing risk could become a factor if gold prices face sustained downward pressure.
According to recent quarterly filings, Allied Gold's current ratio has deteriorated from 1.17 in 2023Q4 to 0.65 in 2026Q1, indicating that the company's short-term liquidity position is becoming increasingly constrained as current liabilities grow faster than the available cash and liquid asset base.
The decline in the current ratio suggests that the company may face challenges in meeting its near-term obligations without further capital infusions or improved operational cash flow. This tightening liquidity buffer appears to be a direct consequence of the heavy capital intensity required to maintain production and advance the Kurmuk project.
As indicated by the company's balance sheet, retained earnings have deepened into negative territory, reaching -$340.2 million in 2026Q1, which highlights a persistent erosion of shareholder equity that may complicate future capital raising efforts or dividend potential for investors in the near term.
The consistent accumulation of negative retained earnings suggests that the company's operational performance has not yet reached a level of maturity that supports organic equity growth. This trend implies that the current equity base is primarily supported by external capital injections rather than internal value creation, which may limit the company's financial flexibility.
Quick answers to the most common questions about buying AAUC stock.
As of 2025, Allied Gold Corporation (AAUC) had total assets of $2.12B including $763.7M in current assets.
Allied Gold Corporation (AAUC) carries total debt of $169.8M, offset by $479.8M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Allied Gold Corporation (AAUC) has total shareholders' equity (book value) of $407.6M ($4.38 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Allied Gold Corporation (AAUC) reported a current ratio of 0.77x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.