TMC the metals company Inc. (TMC) 10-Year Financial Performance & Capital Metrics

TMC • • Industrial / General

Basic MaterialsIndustrial MaterialsBattery Metals & Critical MineralsRare Earth & Specialty Battery Metals

AboutTMC the metals company Inc., a deep-sea minerals exploration company, focuses on the collection, processing, and refining of polymetallic nodules found on the seafloor in the Clarion Clipperton Zone (CCZ) in the south-west of San Diego, California. The company primarily explores for nickel, cobalt, copper, and manganese products. TMC the metals company Inc., through its subsidiaries, holds exploration rights in three polymetallic nodule contract areas in the CCZ of the Pacific Ocean. Its products are used in electric vehicles (EV), renewable energy storage markets, EV wiring, clean energy transmission, manganese alloy production required for steel production, and other applications. The company was formerly known as Sustainable Opportunities Acquisition Corporation and changed its name to TMC the metals company Inc. TMC the metals company Inc. was incorporated in 2019 and is based in Vancouver, Canada.Show more

Revenue $0
EBITDA -$81M -12.4%
Net Income -$82M -11.1%
EPS (Diluted) -0.25 -83233.3%
Gross Margin -
EBITDA Margin -
Operating Margin -
Net Margin -
ROE -
ROIC -
Debt/Equity -
Interest Coverage -31.24

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 88 (top 12%)

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Shares diluted 11.5% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-161.3%

EPS CAGR

10Y-

5Y-

3Y-

TTM-146.29%

ROCE

10Y Avg-102.02%

5Y Avg-71.49%

3Y Avg-243.6%

Latest-353.18%

Peer Comparison

Rare Earth & Specialty Battery Metals

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
USARUSA Rare Earth Inc	2.34B	16.79	180.15			0.37%	1.47
ELBMElectra Battery Materials Corporation	83.35M	0.89	-0.43			-55.75%	1.12
ABATAmerican Battery Technology Company Common Stock	632.3M	4.87	-4.77		-32.31%	-91.5%	0.11
LZMLifezone Metals Limited	475.89M	5.68	-9.63	-90.49%	-276.31%	-387.04%	0.28
NBNioCorp Developments Ltd.	759.13M	6.36	-17.67			-38.32%	0.00
TMCTMC the metals company Inc.	3.05B	7.38	-29.52
IPXIperionX Limited	1.57B	46.73	-38.94			-38.25%	0.04
MPMP Materials Corp.	11.82B	66.70	-117.02	-19.57%	-50.55%	-4.95%	0.87

Profit & Loss

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	0	0	0	0	0
Revenue Growth %	-	-	-	-	-	-
Cost of Goods Sold+	0	0	0	0	360K	362K
COGS % of Revenue	-	-	-	-	-	-
Gross Profit+	0	0	0	0	-360K	-362K
Gross Margin %	-	-	-	-	-	-
Gross Profit Growth %	-	-	-	-	-	-0.01%
Operating Expenses+	42.08M	-56.6M	-149.59M	174.12M	72.03M	80.92M
OpEx % of Revenue	-	-	-	-	-	-
Selling, General & Admin	42.08M	56.6M	144.19M	29.52M	72.03M	30.64M
SG&A % of Revenue	-	-	-	-	-	-
Research & Development	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-
Other Operating Expenses	0	-113.21M	-293.78M	144.6M	0	50.28M
Operating Income+	-42.08M	56.6M	149.59M	-174.12M	-72.39M	-81.29M
Operating Margin %	-	-	-	-	-	-
Operating Income Growth %	-	2.35%	1.64%	-2.16%	0.58%	-0.12%
EBITDA+	-41.74M	57.17M	150.04M	-173.7M	-72.03M	-80.92M
EBITDA Margin %	-	-	-	-	-	-
EBITDA Growth %	-	2.37%	1.62%	-2.16%	0.59%	-0.12%
D&A (Non-Cash Add-back)	339.44K	563K	453K	418K	360K	362K
EBIT	-42.08M	-56.6M	-144.19M	-170.89M	-73.74M	-79.29M
Net Interest Income+	300	53K	-1M	1.11M	1.3M	-2.43M
Interest Income	300	53K	1K	1.11M	1.3M	176K
Interest Expense	0	0	1M	1.11K	0	2.6M
Other Income/Expense	-997.34K	-113.23M	-290.89M	3.23M	-1.35M	-608K
Pretax Income+	-43.07M	-56.63M	-141.3M	-170.89M	-73.74M	-81.89M
Pretax Margin %	-	-	-	-	-	-
Income Tax+	0	0	0	77K	41K	48K
Effective Tax Rate %	1%	1%	1%	1%	1%	1%
Net Income+	-43.07M	-56.63M	-141.3M	-170.96M	-73.78M	-81.94M
Net Margin %	-	-	-	-	-	-
Net Income Growth %	-	-0.31%	-1.5%	-0.21%	0.57%	-0.11%
Net Income (Continuing)	-43.07M	-56.63M	-141.3M	-170.96M	-73.78M	-81.94M
Discontinued Operations	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0
EPS (Diluted)+	-0.00	-0.32	-0.69	-0.71	-0.00	-0.25
EPS Growth %	-	-	-1.16%	-0.03%	1%	-
EPS (Basic)	-0.00	-0.32	-0.69	-0.71	-0.00	-0.25
Diluted Shares Outstanding	131.31M	178.57M	204.93M	239.87M	288.64M	321.88M
Basic Shares Outstanding	131.31M	178.57M	204.93M	239.87M	288.64M	321.88M
Dividend Payout Ratio	-	-	-	-	-	-

Balance Sheet

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	16.02M	10.22M	88.56M	49.6M	8.82M	5.33M
Cash & Short-Term Investments	15.95M	10.1M	84.87M	46.84M	6.84M	3.48M
Cash Only	15.95M	10.1M	84.87M	46.84M	6.84M	3.48M
Short-Term Investments	0	0	0	0	0	0
Accounts Receivable	0	0	64K	117K	467K	249K
Days Sales Outstanding	-	-	-	-	-	-
Inventory	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-
Other Current Assets	12.87K	56K	0	0	0	0
Total Non-Current Assets+	2.3M	44.46M	44.57M	45.17M	60.08M	57.67M
Property, Plant & Equipment	2.3M	44.46M	44.57M	2.02M	50M	6.51M
Fixed Asset Turnover	-	-	-	-	-	-
Goodwill	0	0	0	0	0	0
Intangible Assets	0	0	0	0	1.64M	1.93M
Long-Term Investments	0	0	0	0	8.43M	8.2M
Other Non-Current Assets	0	0	0	43.15M	0	41.02M
Total Assets+	18.32M	54.69M	133.13M	94.78M	68.9M	63M
Asset Turnover	-	-	-	-	-	-
Asset Growth %	-	1.98%	1.43%	-0.29%	-0.27%	-0.09%
Total Current Liabilities+	1.8M	7.76M	26.57M	41.61M	31.33M	54.53M
Accounts Payable	1.8M	4.32M	26.57M	0	0	42.75M
Days Payables Outstanding	-	-	-	-	-	43.11K
Short-Term Debt	0	0	0	0	0	11.78M
Deferred Revenue (Current)	0	0	0	0	0	0
Other Current Liabilities	0	3.44M	0	41.61M	31.33M	0
Current Ratio	8.89x	1.32x	3.33x	1.19x	0.28x	0.10x
Quick Ratio	8.89x	1.32x	3.33x	1.19x	0.28x	0.10x
Cash Conversion Cycle	-	-	-	-	-	-
Total Non-Current Liabilities+	8.33M	10.68M	13.8M	11.66M	26.64M	25.59M
Long-Term Debt	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	0	0
Deferred Tax Liabilities	0	0	10.68M	10.68M	10.68M	10.68M
Other Non-Current Liabilities	8.33M	10.68M	3.13M	983K	15.97M	14.91M
Total Liabilities	10.14M	18.43M	40.37M	53.27M	57.98M	80.12M
Total Debt+	0	0	0	0	0	11.78M
Net Debt	-15.95M	-10.1M	-84.87M	-46.84M	-6.84M	8.29M
Debt / Equity	-	-	-	-	-	-
Debt / EBITDA	-	-	-	-	-	-
Net Debt / EBITDA	-	-0.18x	-0.57x	-	-	-
Interest Coverage	-	-	149.14x	-156720.97x	-	-31.24x
Total Equity+	8.19M	36.25M	92.75M	41.51M	10.92M	-17.12M
Equity Growth %	-	3.43%	1.56%	-0.55%	-0.74%	-2.57%
Book Value per Share	0.06	0.20	0.45	0.17	0.04	-0.05
Total Shareholders' Equity	8.19M	36.25M	92.75M	41.51M	10.92M	-17.12M
Common Stock	79.82M	154.43M	296.05M	332.88M	438.24M	477.22M
Retained Earnings	-106.23M	-162.86M	-304.16M	-475.12M	-548.9M	-631.43M
Treasury Stock	0	0	0	0	0	0
Accumulated OCI	-1.22M	-1.22M	-1.22M	-1.22M	-1.22M	-1.2M
Minority Interest	0	0	0	0	0	0

Cash Flow

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	0	-26.53M	-56.09M	-66.6M	-59.57M	-43.47M
Operating CF Margin %	-	-	-	-	-	-
Operating CF Growth %	-	-	-1.11%	-0.19%	0.11%	0.27%
Net Income	-9.04K	-56.63M	-141.3M	-170.96M	-73.78M	-81.94M
Depreciation & Amortization	0	563K	452K	418K	360K	362K
Stock-Based Compensation	0	27.1M	0	20.08M	0	25.31M
Deferred Taxes	0	0	0	0	0	0
Other Non-Cash Items	9.04K	61K	66.19M	67.7M	14.66M	396K
Working Capital Changes	0	2.38M	18.57M	16.16M	-813K	12.4M
Change in Receivables	0	-110K	-3.48M	960K	748K	127K
Change in Inventory	0	0	0	0	0	0
Change in Payables	0	0	22.05M	0	-1.56M	0
Cash from Investing+	0	-607K	-3.84M	-1.17M	-578K	-515K
Capital Expenditures	0	-607K	-402K	-1.17M	-578K	-515K
CapEx % of Revenue	-	-	-	-	-	-
Acquisitions	-	-	-	-	-	-
Investments	-	-	-	-	-	-
Other Investing	0	0	-3.44M	0	0	0
Cash from Financing+	0	21.29M	134.7M	29.72M	20.07M	40.69M
Debt Issued (Net)	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-
Other Financing	0	919K	104.47M	-677K	0	145K
Net Change in Cash	-	-	-	-	-	-
Free Cash Flow+	0	-27.14M	-56.49M	-67.77M	-60.15M	-43.98M
FCF Margin %	-	-	-	-	-	-
FCF Growth %	-	-	-1.08%	-0.2%	0.11%	0.27%
FCF per Share	-	-0.15	-0.28	-0.28	-0.21	-0.14
FCF Conversion (FCF/Net Income)	-	0.47x	0.40x	0.39x	0.81x	0.53x
Interest Paid	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0

Key Ratios

Metric	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-526.07%	-254.86%	-219.06%	-254.68%	-281.48%	-
Return on Invested Capital (ROIC)	-	461.57%	659.25%	-10278.45%	-1331.99%	-
Interest Coverage	-	-	149.14x	-156720.97x	-	-31.24x
FCF Conversion	-	0.47x	0.40x	0.39x	0.81x	0.53x

Frequently Asked Questions

Growth & Financials

TMC the metals company Inc. (TMC) grew revenue by 0.0% over the past year. Growth has been modest.

TMC the metals company Inc. (TMC) reported a net loss of $295.5M for fiscal year 2024.

Dividend & Returns

TMC the metals company Inc. (TMC) had negative free cash flow of $45.5M in fiscal year 2024, likely due to heavy capital investments.

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