Revenue growth remains highly volatile, swinging from a 15.7% contraction in 2025Q2 to a 68.6% expansion by 2026Q1, while gross margins fluctuate significantly between -3.9% and 50.9% due to cost pressures at the Gibraltar mine.
| 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 | Sep'07 | Sep'06 | Sep'05 | Sep'04 | Sep'03 | Sep'02 | Sep'01 | Sep'00 | Sep'99 | Sep'98 | Sep'97 | Sep'96 |
|---|
| Sales/Revenue | 768.31M | 672.9M | 608.09M | 524.97M | 391.61M | 433.28M | 343.27M | 254.16M | 343.87M | 378.3M | 263.87M | 289.3M | 342.95M | 290.06M | 253.61M | 251.87M | 278.46M | 188.9M | 218.43M | 161.9M | 87.64M | 0 | 3.6K | 0 | 1.11M | 2 | 99.78K | 99.46K | 99.43K | 99.39K |
| Revenue Growth % | 27.99% | 10.66% | 15.83% | 34.06% | -9.62% | 26.22% | 35.06% | -26.09% | -9.1% | 43.37% | -8.79% | -15.64% | 18.23% | 14.37% | 0.69% | -9.55% | 47.41% | -13.52% | 34.91% | 84.74% | - | -100% | - | -100% | 73887753.83% | -100% | 0.32% | 0.03% | 0.05% | - |
| Cost of Goods Sold | 528.16M | 497.75M | 490.94M | 317.62M | 337.37M | 269.47M | 319.54M | 287.99M | 302.65M | 248.31M | 262.09M | 287.98M | 337.84M | 247.12M | 193.29M | 165.56M | 157.76M | 140.58M | 121.66M | 107.17M | 71.85M | 4.5M | 2.11M | 2.65M | 4.07M | 4.46M | 2M | 4.1M | 13.6M | 5.5M |
| COGS % of Revenue | - | 73.97% | 80.73% | 60.5% | 86.15% | 62.19% | 93.09% | 113.31% | 88.01% | 65.64% | 99.33% | 99.54% | 98.51% | 85.2% | 76.22% | 65.74% | 56.65% | 74.42% | 55.7% | 66.2% | 81.99% | - | 58458.19% | - | 366.67% | 99999900% | 2004.41% | 4121.56% | 13677.75% | 5534.27% |
| Gross Profit | 240.15M | 175.15M | 117.16M | 207.35M | 54.23M | 163.81M | 23.73M | -33.83M | 41.22M | 129.99M | 1.78M | 1.32M | 5.1M | 42.93M | 60.31M | 86.3M | 120.7M | 48.32M | 96.77M | 54.73M | 15.78M | -4.5M | -2.1M | -2.65M | -2.96M | -4.46M | -1.9M | -4M | -13.5M | -5.4M |
| Gross Margin % | 31.26% | 26.03% | 19.27% | 39.5% | 13.85% | 37.81% | 6.91% | -13.31% | 11.99% | 34.36% | 0.67% | 0.46% | 1.49% | 14.8% | 23.78% | 34.26% | 43.35% | 25.58% | 44.3% | 33.8% | 18.01% | - | -58358.19% | - | -266.67% | -99999900% | -1904.41% | -4021.56% | -13577.75% | -5434.27% |
| Gross Profit Growth % | - | 49.51% | -43.5% | 282.33% | -66.89% | 590.43% | 170.13% | -182.07% | -68.29% | 7219.48% | 34.55% | -74.13% | -88.12% | -28.82% | -30.11% | -28.5% | 149.81% | -50.07% | 76.82% | 246.72% | 450.54% | -114.22% | 20.65% | 10.54% | 33.68% | -134.97% | 52.49% | 70.37% | -149.97% | - |
| Operating Expenses | 42.19M | 37.08M | 40.92M | 21.11M | 14.11M | 20.93M | 23.73M | 12.92M | 12.69M | 20.43M | 1.78M | 1.32M | 5.1M | 42.93M | 60.31M | 26.34M | 31.82M | 9.28M | -8.97M | -132.03K | 12.54M | 28.26M | 2.06M | 3.3M | 51.62M | 2.03M | 1.9M | 599.85K | 599.37K | -4M |
| OpEx % of Revenue | - | 5.51% | 6.73% | 4.02% | 3.6% | 4.83% | 6.91% | 5.08% | 3.69% | 5.4% | 0.67% | 0.46% | 1.49% | 14.8% | 23.78% | 10.46% | 11.43% | 4.91% | -4.11% | -0.08% | 14.31% | - | 57080.07% | - | 4648.44% | 99999900% | 1904.41% | 603.08% | 602.78% | -4024.67% |
| Selling, General & Admin | 44.27M | 38.95M | 21.94M | 21.11M | 15.86M | 22.44M | 19.71M | 12.92M | 12.41M | 19.76M | 19.81M | 15.78M | 16.09M | 16.24M | 19.08M | 27.42M | 19.06M | 14.08M | 13.27M | 11.97M | 9.89M | 27.54M | 1.34M | 2.59M | 6.68M | 1.31M | 1.5M | 599.85K | 599.37K | 600.41K |
| SG&A % of Revenue | - | 5.79% | 3.61% | 4.02% | 4.05% | 5.18% | 5.74% | 5.08% | 3.61% | 5.22% | 7.51% | 5.45% | 4.69% | 5.6% | 7.52% | 10.89% | 6.84% | 7.45% | 6.08% | 7.39% | 11.28% | - | 37336.34% | - | 601.45% | 87198009.13% | 1502.94% | 603.08% | 602.78% | 604.11% |
| Research & Development | 954.46K | -4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | -0.6% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -351K | 2.14M | 18.97M | 0 | -1.76M | -1.52M | 4.01M | 0 | 0 | 3.03M | 3.08M | 0 | -10.98M | 26.7M | 41.23M | -1.09M | 12.77M | -4.79M | -22.24M | -12.1M | 2.66M | 723.25K | 711.17K | 714.07K | 44.94M | 717K | 400.59K | 0 | 0 | -4.6M |
| Operating Income | 197.96M | 138.07M | 76.24M | 186.25M | 40.13M | 143.25M | 0 | -46.75M | 28.53M | 108.14M | -18.68M | -13.54M | -14.63M | 17.91M | -7.71M | 59.97M | 88.88M | 39.03M | 105.74M | 54.86M | 3.24M | -61.58M | -4.16M | -6.55M | -54.58M | -6.49M | -3.8M | -4.6M | -14.1M | -1.4M |
| Operating Margin % | 25.77% | 20.52% | 12.54% | 35.48% | 10.25% | 33.06% | - | -18.39% | 8.3% | 28.59% | -7.08% | -4.68% | -4.27% | 6.18% | -3.04% | 23.81% | 31.92% | 20.66% | 48.41% | 33.88% | 3.7% | - | -115538.26% | - | -4915.12% | -99999900% | -3808.82% | -4624.64% | -14180.52% | -1409.59% |
| Operating Income Growth % | - | 81.1% | -59.07% | 364.11% | -71.99% | - | 100% | -263.86% | -73.62% | 678.74% | -37.99% | 7.44% | -181.67% | 332.26% | -112.86% | -32.53% | 127.69% | -63.08% | 92.74% | 1593.17% | 105.26% | -1379.58% | 36.46% | 88% | -740.65% | -70.83% | 17.38% | 67.38% | -906.48% | - |
| EBITDA | 316.62M | 249.15M | 150.56M | 243.19M | 92.11M | 209.84M | 97.88M | 39.11M | 101.61M | 158.22M | 34.34M | 36.06M | 32.71M | 52.42M | 13.97M | 72.79M | 101.85M | 47.19M | 108.89M | 58.27M | 5.9M | -60.85M | -3.45M | -5.84M | -53.86M | -5.78M | -3.4M | -4.6M | -14.1M | -6M |
| EBITDA Margin % | 41.21% | 37.03% | 24.76% | 46.32% | 23.52% | 48.43% | 28.51% | 15.39% | 29.55% | 41.82% | 13.01% | 12.46% | 9.54% | 18.07% | 5.51% | 28.9% | 36.58% | 24.98% | 49.85% | 35.99% | 6.73% | - | -95794.5% | - | -4850.74% | -99999900% | -3407.35% | -4624.64% | -14180.52% | -6038.38% |
| EBITDA Growth % | 112.21% | 65.48% | -38.09% | 164.01% | -56.1% | 114.38% | 150.29% | -61.51% | -35.78% | 360.77% | -4.77% | 10.24% | -37.61% | 275.22% | -80.81% | -28.53% | 115.86% | -56.67% | 86.87% | 888.13% | 109.69% | -1663.57% | 40.87% | 89.17% | -832.64% | -69.87% | 26.09% | 67.38% | -134.95% | - |
| D&A (Non-Cash Add-back) | 118.65M | 111.08M | 74.32M | 56.94M | 51.98M | 66.59M | 95.3M | 85.86M | 73.09M | 50.09M | 53.02M | 49.6M | 47.34M | 34.51M | 21.68M | 12.83M | 12.97M | 8.15M | 3.15M | 3.41M | 2.66M | 723.25K | 711.17K | 714.07K | 714.86K | 717K | 400.59K | 0 | 0 | 0 |
| EBIT | 126.09M | 38.34M | 96.62M | 176.29M | 19.63M | 110.04M | 2.58M | -39.43M | 18.85M | 97.12M | -16.1M | -42.03M | -35.25M | -6.78M | 5.66M | 66.76M | 200.4M | 19.52M | 96.73M | 54.86M | 3.24M | -37.42M | 0 | -5.35M | -10.35M | -6.49M | -3.8M | -4.6M | -14.1M | -6M |
| Net Interest Income | -77.85M | -83.9M | -73.34M | -40.45M | -45.21M | -46.14M | -42.76M | -34.3M | -37.31M | -32.39M | -29.54M | -24.55M | -23.24M | -19.54M | -7.54M | -9.14M | 10.39M | -863K | 2.22M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 4.07M | 3.92M | 5.17M | 2.97M | -6.44M | -6.91M | -5.47M | 1.23M | -2.93M | 935K | 468K | 1.37M | 4.18M | 5.86M | 6.67M | 6.86M | 14.93M | 7.4M | 11.09M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 81.91M | 87.82M | 78.52M | 43.42M | 38.77M | 39.23M | 37.29M | 35.54M | 34.38M | 33.33M | 30.01M | 25.92M | 27.42M | 25.4M | 14.21M | 16M | 4.54M | 8.27M | 8.87M | 18.86M | 165.89K | 52.97M | 0 | 0 | 0 | 0 | 0 | 200.46K | 799.61K | 499.66K |
| Other Income/Expense | -177.32M | -187.55M | -58.14M | -53.38M | -59.27M | -72.44M | -32.62M | -19.36M | -63.85M | -44.7M | -27.42M | -54.42M | -48.04M | -50.09M | -842K | -9.21M | 106.98M | -27.78M | -17.87M | -15.9M | 3.6M | 4.65M | 131.64K | -598.69K | 44.22M | 678.01K | 99.78K | -200.46K | -799.61K | -400.27K |
| Pretax Income | 20.65M | -49.48M | 18.1M | 132.87M | -19.14M | 70.81M | -32.62M | -66.1M | -35.33M | 63.44M | -46.11M | -67.96M | -62.67M | -32.18M | -8.55M | 50.76M | 195.86M | 11.26M | 87.87M | 38.96M | 6.84M | -56.92M | -4.03M | -7.15M | -10.35M | -5.81M | -3.7M | -4.8M | -14.9M | -1.8M |
| Pretax Margin % | 2.69% | -7.35% | 2.98% | 25.31% | -4.89% | 16.34% | -9.5% | -26.01% | -10.27% | 16.77% | -17.47% | -23.49% | -18.27% | -11.09% | -3.37% | 20.15% | 70.34% | 5.96% | 40.23% | 24.06% | 7.81% | - | -111883.68% | - | -932.5% | -99999900% | -3708.82% | -4826.17% | -14984.69% | -1812.34% |
| Income Tax | 5.28M | -19.41M | 31.54M | 50.14M | 6.83M | 34.34M | -9.1M | -24.94M | 448K | 29.18M | -14.71M | -5.61M | -8.79M | 2.66M | 584K | 23.78M | 46.5M | 694K | 39.6M | 6.04M | -17.52M | 23.74M | -519.54K | 1.15M | 95.54M | 94.84K | 299.34K | 99.46K | 200.25K | 99.39K |
| Effective Tax Rate % | 25.55% | 39.22% | 174.28% | 37.74% | -35.7% | 48.5% | 27.88% | 37.72% | -1.27% | 45.99% | 31.91% | 8.25% | 14.02% | -8.26% | -6.83% | 46.86% | 23.74% | 6.17% | 45.07% | 15.51% | -256.05% | -41.71% | 12.89% | -16.13% | -922.67% | -1.63% | -8.09% | -2.07% | -1.34% | -5.52% |
| Net Income | 15.37M | -30.08M | -13.44M | 82.73M | -25.97M | 36.47M | -23.52M | -41.17M | -35.77M | 34.26M | -31.4M | -62.35M | -53.88M | -34.84M | -9.14M | 26.97M | 149.36M | 10.56M | 48.26M | 32.92M | 24.37M | -80.66M | -3.51M | -6.5M | -58.16M | -5.91M | -4M | -4.9M | -15.1M | -1.9M |
| Net Margin % | 2% | -4.47% | -2.21% | 15.76% | -6.63% | 8.42% | -6.85% | -16.2% | -10.4% | 9.06% | -11.9% | -21.55% | -15.71% | -12.01% | -3.6% | 10.71% | 53.64% | 5.59% | 22.1% | 20.33% | 27.8% | - | -97460.11% | - | -5237.74% | -99999900% | -4008.82% | -4926.17% | -15186.08% | -1912.34% |
| Net Income Growth % | 125.24% | -123.71% | -116.25% | 418.53% | -171.21% | 255.04% | 42.86% | -15.07% | -204.41% | 209.13% | 49.65% | -15.72% | -54.67% | -281.21% | -133.88% | -81.94% | 1314.23% | -78.12% | 46.62% | 35.09% | 130.21% | -2197.8% | 46.02% | 88.82% | -884.24% | -47.73% | 18.36% | 67.55% | -694.49% | - |
| Net Income (Continuing) | 15.37M | -30.08M | -13.44M | 82.73M | -25.97M | 36.47M | -23.52M | -41.17M | -35.77M | 34.26M | -31.4M | -62.35M | -53.88M | -34.84M | -9.14M | 26.97M | 149.36M | 10.56M | 48.26M | 32.92M | 24.37M | -80.66M | -3.51M | -6.5M | -58.16M | -5.91M | -4M | -4.9M | -15.1M | -1.9M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 1K | 1K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.04 | -0.09 | -0.05 | 0.28 | -0.09 | 0.13 | -0.09 | -0.22 | -0.16 | 0.15 | -0.14 | -0.28 | -0.27 | -0.18 | -0.08 | 0.14 | 0.74 | 0.06 | 0.36 | 0.26 | 0.21 | -1.07 | -0.07 | -0.21 | -2.32 | -0.25 | -0.22 | -0.33 | -1.09 | -0.15 |
| EPS Growth % | 118.27% | -104.18% | -116.25% | 408.71% | -169.77% | 238.45% | 57.32% | -37.5% | -206.67% | 207.14% | 50% | -3.7% | -50% | -121.4% | -158.07% | -81.08% | 1133.33% | -83.33% | 38.46% | 23.81% | 119.63% | -1332.4% | 64.43% | 90.95% | -828% | -13.64% | 33.33% | 69.72% | -626.67% | - |
| EPS (Basic) | - | -0.09 | -0.05 | 0.28 | -0.09 | 0.13 | -0.09 | -0.22 | -0.16 | 0.15 | -0.14 | -0.28 | -0.27 | -0.18 | -0.08 | 0.14 | 0.80 | 0.06 | 0.37 | 0.29 | 0.23 | -1.07 | -0.07 | -0.21 | -2.32 | -0.25 | -0.22 | -0.33 | -1.09 | -0.15 |
| Diluted Shares Outstanding | 368.46M | 350.67M | 295.31M | 290.98M | 286.24M | 287.5M | 250.53M | 243.91M | 227.87M | 232.04M | 221.83M | 221.81M | 197.66M | 192.22M | 192.6M | 197.75M | 203.01M | 180.84M | 142.28M | 126.6M | 110.73M | 75.11M | 46.98M | 30.34M | 25.07M | 23.4M | 17.97M | 14.89M | 13.84M | 12.66M |
| Basic Shares Outstanding | 363.36M | 350.68M | 295.31M | 288.56M | 286.24M | 283.59M | 250.53M | 243.91M | 223.59M | 225.68M | 221.83M | 221.81M | 197.66M | 192.22M | 192.6M | 193.21M | 186.1M | 173.17M | 129.22M | 113.5M | 100.02M | 75.11M | 46.98M | 30.34M | 25.07M | 23.4M | 17.97M | 14.89M | 13.84M | 12.66M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Florence Copper execution risk
According to the provided financial data, Taseko's revenue growth has exhibited significant volatility, swinging from a 15.7% contraction in 2025Q2 to a 68.6% expansion by 2026Q1, reflecting the company's high sensitivity to copper price fluctuations and the inherent cyclicality of its single-segment production model.
The dramatic revenue swings suggest that Taseko remains a price-taker, with top-line performance heavily dictated by LME spot prices rather than consistent volume growth. Investors should monitor whether the recent consolidation of Gibraltar ownership can provide a more stable production baseline to mitigate these recurring revenue fluctuations.
As reported in the income statement, Taseko's gross margin profile has been inconsistent, ranging from a negative 3.9% in 2025Q2 to a peak of 50.9% in 2025Q4, indicating that the mature Gibraltar ore body faces significant cost pressures that frequently erode operational profitability.
The wide variance in gross margins suggests that the company's cost structure is highly sensitive to stripping ratios and energy-intensive milling requirements. The inability to maintain consistent margins implies that Taseko may lack the pricing power necessary to offset inflationary pressures in labor and fuel costs.
Based on the quarterly figures, operating income has failed to scale consistently with gross profit, as evidenced by the 2025Q2 period where a negative gross profit of $4.5M translated into an operating loss of $9.7M, highlighting the company's high fixed-cost burden in its mining operations.
The lack of clear operating leverage suggests that SG&A and other overheads remain rigid even when production margins contract. This indicates that Taseko's profitability is highly vulnerable to operational disruptions, as the company lacks the flexibility to rapidly adjust its cost base during periods of lower copper prices.
Financial statements reveal a persistent disconnect between operating income and net income, with the company reporting a $21.9M net profit in 2025Q2 despite an operating loss, suggesting that non-operating items or tax adjustments are significantly influencing the bottom line and obscuring core operational performance.
The frequent swings between net losses and profits, often decoupled from operating results, warrant further investigation into interest capitalization and deferred tax impacts. Investors should be cautious of relying on headline EPS, as these non-operating distortions may mask the underlying cash-generating capability of the Gibraltar asset.
As indicated by the historical data, Taseko's reliance on high-coupon debt and periodic equity issuance to fund capital-intensive projects like Florence Copper creates a precarious financial position, where any delay in project commissioning could lead to severe liquidity constraints and further dilution for existing shareholders.
Short-sellers would likely focus on the company's inability to generate consistent net income, which may necessitate further capital raises if Florence Copper faces cost overruns. The market appears to be pricing in significant execution risk, reflecting skepticism regarding the company's transition to a multi-asset producer.
Quick answers to the most common questions about buying TGB stock.
For fiscal year 2025, Taseko Mines Limited (TGB) reported total revenue of $672.9M. This represents a 676954.3% increase compared to $0.1M in 1996.
Taseko Mines Limited (TGB) reported a net loss of $30.1M for the fiscal year ending 2025.
Taseko Mines Limited (TGB) reported an operating income of $138.1M, resulting in an operating profit margin of 20.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Taseko Mines Limited (TGB) generated $175.2M in gross profit for the year, representing a gross profit margin of 26.0%. This demonstrates the company's core pricing power and production efficiency.