While the company maintains a cash position of $53.0M, the equity base is heavily diluted by a persistent retained earnings deficit of -$388.1M, signaling long-term erosion of shareholder value.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 |
|---|
| Total Current Assets | 76.97M | 20.66M | 12.56M | 23.18M | 30.77M | 13.83M | 20.83M | 13.35M | 8.56M | 7.73M | 7.96M | 5.65M | 8.64M | 5.96M | 14.36M | 11.01M | 31.84M | 246.21K | 322.94K | 360.41K | 799K | 582.51K | 2.39M | 1.41M | 318 | 25K |
| Cash & Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cash Only | 52.97M | 16.95M | 954.27K | 3.79M | 2.52M | 5.91M | 2.43M | 1.02M | 488.66K | 2.07M | 184.36K | 1.66M | 5.31M | 2.41M | 5.97M | 6.96M | 25.38M | 246.21K | 322.94K | 175K | -45.23K | 26.86K | 1.95M | 364.14K | 318 | 0 |
| Short-Term Investments | 0 | 0 | 0 | 18.91M | 0 | 925.82K | 4.24M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.21M | 4.41M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 450.95K | 428.24K | 591.96K | 662.93K | 0 | 0 | 0 | 0 | 0 | 0 | 52K | 288.69K | 54K | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | 14.97 | 7.67 | 7.82 | 53.97 | - | - | - | - | - | - | 3.95 | 54.14 | - | - | - |
| Other Current Assets | 23.69M | 2.42M | 9.18M | 470.58K | 22.45M | 1.68M | 7.01M | 12.22M | 8.08M | 5.66M | 7.78M | 3.51M | 2.58M | 1.2M | 5.07M | 0 | 0 | 0 | 0 | 0 | 774.4K | 476.15K | 149.8K | 0 | 0 | 0 |
| Total Non-Current Assets | 141.17M | 161.98M | 78.75M | 83.28M | 69.29M | 113.13M | 22.29M | 26.22M | 20.05M | 23.23M | 25.88M | 37.56M | 37.82M | 38.04M | 33.5M | 15.97M | 5.29M | 4.68M | 3.19M | 3.32M | 2.76M | 3.12M | 7.39M | 16.11M | 1.12K | 18.74K |
| Property, Plant & Equipment | 0 | 0 | 27.59M | 31.67M | 15.48M | 21.7M | 15.27M | 13.67M | 7.21M | 7.21M | 7.21M | 7.21M | 7.32M | 7.47M | 7.61M | 14.25M | 4.22M | 3.57M | 2.02M | 2.03M | 2.38M | 2.68M | 6.9M | 7.1M | 1.12K | 14.38K |
| Fixed Asset Turnover | 0.04x | - | 0.11x | 0.04x | 0.01x | 0.04x | 0.01x | 0.01x | 0.02x | 0.01x | 0.70x | 2.57x | 3.50x | 3.32x | 0.67x | 0.03x | 40062.28x | - | - | 0.19x | 0.53x | 0.98x | 0.14x | 0.00x | 1.03x | 0.24x |
| Goodwill | 1.51M | 1.51M | 0 | 0 | 0 | 12.79M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 23.96M | 24.94M | 5.86M | 15.87M | 17.66M | 23.18M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8.77M | 0 | 0 |
| Long-Term Investments | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Non-Current Assets | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Assets | 218.13M | 182.64M | 91.31M | 106.47M | 100.05M | 126.95M | 43.12M | 39.57M | 28.61M | 30.96M | 33.84M | 43.21M | 46.46M | 44M | 47.86M | 26.97M | 37.12M | 4.93M | 3.52M | 3.68M | 3.55M | 3.71M | 9.78M | 17.52M | 1.44K | 43.74K |
| Asset Turnover | 0.01x | 0.01x | 0.03x | 0.01x | 0.00x | 0.01x | 0.00x | 0.00x | 0.01x | 0.00x | 0.15x | 0.43x | 0.55x | 0.56x | 0.11x | 0.02x | 4559.27x | - | - | 0.11x | 0.35x | 0.71x | 0.10x | 0.00x | 0.81x | 0.08x |
| Asset Growth % | 307.73% | 100.02% | -14.24% | 6.41% | -21.19% | 194.4% | 8.98% | 38.3% | -7.6% | -8.51% | -21.68% | -6.98% | 5.58% | -8.07% | 77.45% | -27.34% | 653.71% | 40.01% | -4.29% | 3.41% | -4.12% | -62.09% | -44.18% | 1219940.46% | -96.72% | - |
| Total Current Liabilities | 17.07M | 10.02M | 8.11M | 14.84M | 31.63M | 23.91M | 4.83M | 4.44M | 2.39M | 1.11M | 2.42M | 12.14M | 12.6M | 13.1M | 18.16M | 6.05M | 5.57M | 22.9M | 17.65M | 19.54M | 18.63M | 20.86M | 9.1M | 608.27K | 49.32K | 216.68K |
| Accounts Payable | 3.28M | 2.27M | 2.85M | 1.33M | 714.08K | 633.22K | 282.07K | 922.55K | 405.15K | 321.3K | 804.55K | 1.96M | 2.27M | 3.13M | 2.54M | 1.76M | 819.82K | 1.61M | 1.22M | 305.64K | 519.67K | 1.27M | 589.8K | 108.95K | 49.32K | 61.58K |
| Days Payables Outstanding | 154.53 | 128.07 | 2.3K | - | - | 849.47 | 1.98K | 219.19 | 52.7 | 33.84 | 62.64 | 65.21 | 40.56 | 41.39 | 206.44 | 65.22 | 78.6 | 204.93 | 114.54 | 235.56 | 95.53 | 96.36 | 110.6 | - | - | - |
| Short-Term Debt | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Deferred Revenue (Current) | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Liabilities | 10.58M | 5.05M | 3.57M | 5.85M | 28.08M | 9.29M | 768.65K | 2.19M | 1.51M | 355.25K | 784.6K | 1.21M | 3.42M | 5.34M | 544.68K | 0 | 0 | 0 | 0 | 0 | 398.31K | 0 | -16.7K | 50K | 0 | 0 |
| Current Ratio | 4.51x | 2.06x | 1.55x | 1.56x | 0.97x | 0.58x | 4.32x | 3.00x | 3.58x | 6.97x | 3.29x | 0.47x | 0.69x | 0.45x | 0.79x | 1.82x | 5.72x | 0.01x | 0.02x | 0.02x | 0.04x | 0.03x | 0.26x | 2.31x | 0.01x | 0.12x |
| Quick Ratio | 4.51x | 2.06x | 1.55x | 1.56x | 0.97x | 0.58x | 4.32x | 3.00x | 3.58x | 6.97x | 3.29x | 0.43x | 0.65x | 0.41x | 0.75x | 1.82x | 5.72x | 0.01x | 0.02x | 0.02x | 0.04x | 0.03x | 0.23x | 2.22x | 0.01x | 0.12x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 41.3M | 61.71M | 23.43M | 13.35M | 12.06M | 10.07M | 6.52M | 11.63M | 16.84M | 17.99M | 17M | 12.31M | 11.61M | 10.66M | 11.31M | 4.33M | 6.89M | 9.2M | 9.76M | 1.34M | 621.76K | 761.28K | 846.58K | 600K | 49.32K | 216.68K |
| Long-Term Debt | 12M | 12M | 8.39M | 5.36M | 6.12M | 4.49M | 0 | 5.08M | 8.86M | 9.97M | 8.99M | 4.76M | 5.7M | 5.23M | 6.01M | 1.3M | 680.88K | 3.52M | 3.28M | 11.61K | 68.57K | 130.24K | 256.62K | 600K | 0 | 0 |
| Capital Lease Obligations | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | 58.38M | 71.74M | 31.54M | 28.19M | 43.69M | 33.98M | 11.34M | 16.08M | 19.23M | 19.1M | 19.43M | 24.45M | 24.21M | 23.76M | 29.47M | 10.38M | 12.46M | 32.1M | 27.41M | 20.88M | 19.25M | 21.62M | 9.95M | 1.21M | 49.32K | 216.68K |
| Total Debt | 31.46M | 30.71M | 13.8M | 10.93M | 8.73M | 17.53M | 3.61M | 5.46M | 9.17M | 10.26M | 9.47M | 13.3M | 11.6M | 7.91M | 13.73M | 1.44M | 1.45M | 19.66M | 16.13M | 13.61M | 13.14M | 16.2M | 8.11M | 1M | 0 | 155.11K |
| Net Debt | -21.51M | 13.76M | 12.85M | 7.15M | 6.21M | 11.62M | 1.18M | 4.44M | 8.68M | 8.2M | 9.29M | 11.63M | 6.29M | 5.5M | 7.76M | -5.52M | -23.93M | 19.41M | 15.81M | 13.43M | 13.18M | 16.17M | 6.16M | 635.86K | -318 | 155.11K |
| Debt / Equity | 0.20x | 0.28x | 0.23x | 0.14x | 0.15x | 0.19x | 0.11x | 0.23x | 0.98x | 0.86x | 0.66x | 0.71x | 0.52x | 0.39x | 0.75x | 0.09x | 0.06x | - | - | - | - | - | - | 0.06x | - | - |
| Debt / EBITDA | -0.88x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.60x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | - | -19.66x | -16.97x | 7.39x | -27.30x | -178.60x | 36.39x | -3.33x | -5.72x | -5.18x | -16.20x | -7.59x | -8.67x | -17.44x | -32.08x | -143.89x | -17.33x | -0.39x | -3.52x | - | - | - | - | - | - | - |
| Total Equity | 159.75M | 110.9M | 59.77M | 78.28M | 56.36M | 92.97M | 31.78M | 23.49M | 9.38M | 11.87M | 14.42M | 18.76M | 22.24M | 20.24M | 18.39M | 16.6M | 24.67M | -27.17M | -23.89M | -17.2M | -15.7M | -17.91M | -168.82K | 16.31M | -47.89K | -172.94K |
| Equity Growth % | 355.01% | 85.55% | -23.64% | 38.88% | -39.37% | 192.55% | 35.27% | 150.32% | -20.9% | -17.7% | -23.15% | -15.65% | 9.87% | 10.05% | 10.83% | -32.71% | 190.77% | -13.74% | -38.89% | -9.57% | 12.35% | -10508.86% | -101.04% | 34163.21% | 72.31% | - |
| Book Value per Share | 2.42 | 3.02 | 3.60 | 7.44 | 7.57 | 18.44 | 10.40 | 12.08 | 7.87 | 14.42 | 20.41 | 42.61 | 54.06 | 49.21 | 44.71 | 33.68 | 62.49 | -76.55 | -76.02 | -108.14 | -223.79 | -708.08 | -9.04 | 1207.09 | -4.04 | -8235.43 |
| Total Shareholders' Equity | 156.43M | 107.58M | 59.77M | 78.28M | 53.6M | 89.57M | 31.78M | 23.22M | 9.38M | 11.87M | 14.42M | 18.76M | 22.24M | 20.24M | 18.39M | 16.6M | 24.67M | -27.17M | -23.89M | -17.2M | -15.7M | -17.91M | -168.82K | 16.31M | -47.89K | -172.94K |
| Common Stock | 191.84K | 177.03K | 156.59K | 78.41K | 60.66K | 47.06K | 22.94K | 18.14K | 50.17K | 31.46K | 123.45K | 106.5K | 54.93K | 46.75K | 32.28K | 19.31K | 14.09K | 2.44M | 2.25M | 1.83M | 638.65K | 216.48K | 136.49K | 114.97K | 66.73K | 0 |
| Retained Earnings | -388.11M | -378.73M | -335.65M | -282.33M | -291.49M | -245.54M | -220.96M | -235.89M | -232.09M | -222.6M | -212.03M | -199.06M | -188.61M | -178.97M | -157.62M | -126.86M | -115.25M | -54.93M | -48.86M | -32M | -27.94M | -23.52M | -7.68M | -3.71M | -570.77K | 0 |
| Treasury Stock | 0 | 0 | 0 | -3.36M | -3.36M | -3.87M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -20K | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -484.7K | -484.7K | -484.7K | -484.7K | -371.61K | -219K | -75K | -1.04M | -1.15M | -1.08M | -995.34K | -1.06M | -803.39K | -515.09K | -470.08K | 0 | -2.02M | -172.94K |
| Minority Interest | 3.32M | 3.32M | 0 | 0 | 2.76M | 3.4M | 0 | 269.54K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Pre-commercial operational insolvency
According to recent balance sheet data, Comstock Inc. has seen total assets grow to $218.1M in 2026Q1, yet this expansion appears disconnected from operational performance, as the company continues to accumulate significant retained earnings deficits that have reached -$388.1M, signaling a persistent erosion of shareholder value over time.
The increase in total assets appears to be driven by accounting adjustments rather than productive capital investment, given the lack of corresponding revenue growth. Investors should monitor whether this asset base can be monetized or if it represents a buildup of speculative value that may eventually require impairment.
Based on reported financial statements, Comstock Inc.'s cash position of $53.0M in 2026Q1 provides a temporary liquidity buffer, yet the company's historical burn rate suggests this capital may be rapidly depleted without a transition to a self-sustaining, revenue-generating commercial model in the near term.
While the current ratio of 4.51 appears healthy on the surface, it is heavily influenced by the volatility of cash and current asset levels rather than operational efficiency. The reliance on cash reserves to fund ongoing development activities warrants caution regarding potential future dilution.
As reported in quarterly filings, Comstock Inc.'s equity base has fluctuated significantly, with the 2026Q1 figure of $156.4M reflecting the impact of persistent net losses, which have consistently eroded the company's book value and necessitated ongoing capital raises to maintain its operational existence.
The accumulation of a massive deficit in retained earnings suggests that the company has struggled to generate a return on invested capital. This trend implies that shareholders are effectively funding the company's R&D and overhead costs, with little evidence of a path toward profitability.
Analysis of the balance sheet reveals that the absence of net PPE in 2026Q1, despite prior periods showing significant holdings, suggests potential accounting shifts or asset write-downs that may obscure the true underlying value of the company's mining and environmental technology infrastructure.
The disappearance of net PPE from the balance sheet warrants further investigation, as it may indicate a change in how the company accounts for its core assets. This lack of transparency regarding the physical asset base complicates the assessment of the company's long-term operational viability.
Quick answers to the most common questions about buying LODE stock.
As of 2025, Comstock Inc. (LODE) had total assets of $182.6M including $20.7M in current assets.
Comstock Inc. (LODE) carries total debt of $30.7M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Comstock Inc. (LODE) has total shareholders' equity (book value) of $107.6M ($3.02 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Comstock Inc. (LODE) reported a current ratio of 2.06x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.