8-K Announcements
6Material company update
Mar 27, 2026·SEC
Material company update
Mar 9, 2026·SEC
Material company update
Jan 22, 2026·SEC
TMC the metals company Inc.(TMC)Earnings, Financials & Key Ratios
TMC•NASDAQ
$6.16
$2.55B mkt cap·Price updated May 6, 2026
SectorBasic MaterialsIndustryIndustrial MaterialsSub-IndustryEarly-Stage and Frontier Resource Plays
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%
- Interest Coverage-31.24
TMC Key Insights
TMC the metals company Inc. (TMC) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
No significant strengths identified
✗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
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
TMC Price & Volume
TMC the metals company Inc. (TMC) stock price & volume — 10-year historical chart
Loading chart...
TMC Growth Metrics
TMC the metals company Inc. (TMC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-
TTM-
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-161.3%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-146.29%
Return on Capital
10 Years-102.02%
5 Years-71.49%
3 Years-243.6%
Last Year-353.18%
TMC Recent Earnings
TMC the metals company Inc. (TMC) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 5/12 qtrs (42%)
Q2 2026Latest
Mar 27, 2026EPS
$0.08
Est $0.06
-33.3%
Revenue
—
Q4 2025
Nov 13, 2025EPS
$0.14
Est $0.06
-154.5%
Revenue
—
Q3 2025
Aug 14, 2025EPS
$0.07
Est $0.06
-16.7%
Revenue
—
Q2 2025
May 14, 2025EPS
$0.06
Est $0.03
-100.0%
Revenue
—
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 27, 2026 | $0.08vs $0.06-33.3% | — |
| Q4 2025 | Nov 13, 2025 | $0.14vs $0.06-154.5% | — |
| Q3 2025 | Aug 14, 2025 | $0.07vs $0.06-16.7% | — |
| Q2 2025 | May 14, 2025 | $0.06vs $0.03-100.0% | — |
Based on last 12 quarters of dataView full earnings history →
TMC Peer Comparison
TMC the metals company Inc. (TMC) competitors in Early-Stage and Frontier Resource Plays — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 MP | 12.91B | 72.65 | -145.30 | 35.12% | -31.18% | -5.04% | 0.44 | |
 NB | 772.96M | 6.40 | -17.78 | -18% | 0.00 | |||
 PPTA | 3.22B | 29.90 | 135.91 | -14.14% | 0.00 | |||
 UAMY | 1.77B | 12.61 | -315.25 | 162.81% | -11.05% | -6.14% | 0.00 | |
 LITM | 11.29M | 2.27 | -0.99 | -10.08% | ||||
 FCX | 87.51B | 60.89 | 40.06 | 1.12% | 10.34% | 8.91% | 0.37 | |
 SCCO | 151.92B | 183.91 | 35.10 | 17.38% | 32.3% | 41.97% | 0.67 | |
 CLF | 6.35B | 11.15 | -3.72 | -3% | -7.94% | -23.38% | 1.15 |
Compare TMC vs Peers
TMC the metals company Inc. (TMC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
TMC Income Statement
TMC the metals company Inc. (TMC) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - |
| Cost of Goods Sold | 0 | 0 | 0 | 0 | 360K | 362K | 139K |
| COGS % of Revenue | - | - | - | - | - | - | - |
| Gross Profit | 0▲ 0% | 0▲ 0% | 0▲ 0% | 0▲ 0% | -360K▲ 0% | -362K▼ 0.6% | -139K▲ 0% |
| Gross Margin % | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | - | - | - | - | -0.56% | - |
| Operating Expenses | 42.08M | -56.6M | -149.59M | 174.12M | 72.03M | 80.92M | 111.56M |
| OpEx % of Revenue | - | - | - | - | - | - | - |
| Selling, General & Admin | 42.08M | 56.6M | 144.19M | 29.52M | 72.03M | 30.64M | 91.55M |
| SG&A % of Revenue | - | - | - | - | - | - | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | -113.21M | -293.78M | 144.6M | 0 | 50.28M | 2M |
| Operating Income | -42.08M▲ 0% | 56.6M▲ 234.5% | 149.59M▲ 164.3% | -174.12M▼ 216.4% | -72.39M▲ 58.4% | -81.29M▼ 12.3% | -111.7M▲ 0% |
| Operating Margin % | - | - | - | - | - | - | - |
| Operating Income Growth % | - | 234.53% | 164.27% | -216.4% | 58.43% | -12.29% | - |
| EBITDA | -41.74M | 57.17M | 150.04M | -173.7M | -72.03M | -80.92M | -111.44M |
| EBITDA Margin % | - | - | - | - | - | - | - |
| EBITDA Growth % | - | 236.97% | 162.46% | -215.77% | 58.53% | -12.35% | -13.93% |
| D&A (Non-Cash Add-back) | 339.44K | 563K | 453K | 418K | 360K | 362K | 255K |
| EBIT | -42.08M | -56.6M | -144.19M | -170.89M | -73.74M | -79.29M | -291.58M |
| Net Interest Income | 300 | 53K | -1M | 1.11M | 1.3M | -2.43M | -1.22M |
| Interest Income | 300 | 53K | 1K | 1.11M | 1.3M | 176K | 1.54M |
| Interest Expense | 0 | 0 | 1M | 1.11K | 0 | 2.6M | 2.76M |
| Other Income/Expense | -997.34K | -113.23M | -290.89M | 3.23M | -1.35M | -608K | -183.64M |
| Pretax Income | -43.07M▲ 0% | -56.63M▼ 31.5% | -141.3M▼ 149.5% | -170.89M▼ 20.9% | -73.74M▲ 56.8% | -81.89M▼ 11.1% | -295.34M▲ 0% |
| Pretax Margin % | - | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 77K | 41K | 48K | 171K |
| Effective Tax Rate % | 0% | 0% | 0% | -0.05% | -0.06% | -0.06% | -0.06% |
| Net Income | -43.07M▲ 0% | -56.63M▼ 31.5% | -141.3M▼ 149.5% | -170.96M▼ 21.0% | -73.78M▲ 56.8% | -81.94M▼ 11.1% | -295.51M▲ 0% |
| Net Margin % | - | - | - | - | - | - | - |
| Net Income Growth % | - | -31.48% | -149.51% | -20.99% | 56.84% | -11.06% | -161.3% |
| Net Income (Continuing) | -43.07M | -56.63M | -141.3M | -170.96M | -73.78M | -81.94M | -295.51M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.00▲ 0% | -0.32▼ 319900.0% | -0.69▼ 115.6% | -0.71▼ 2.9% | -0.00▲ 100.0% | -0.25▼ 83233.3% | -0.92▲ 0% |
| EPS Growth % | - | - | -115.63% | -2.9% | 99.96% | - | -146.29% |
| 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 | 321.88M |
| Basic Shares Outstanding | 131.31M | 178.57M | 204.93M | 239.87M | 288.64M | 321.88M | 321.88M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
TMC Balance Sheet
TMC the metals company Inc. (TMC) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Total Current Assets | 16.02M | 10.22M | 88.56M | 49.6M | 8.82M | 5.33M | 117.21M |
| Cash & Short-Term Investments | 15.95M | 10.1M | 84.87M | 46.84M | 6.84M | 3.48M | 115.65M |
| Cash Only | 15.95M | 10.1M | 84.87M | 46.84M | 6.84M | 3.48M | 115.65M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 64K | 117K | 467K | 249K | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 12.87K | 56K | 0 | 0 | 0 | 0 | 1.57M |
| Total Non-Current Assets | 2.3M | 44.46M | 44.57M | 45.17M | 60.08M | 57.67M | 58.4M |
| Property, Plant & Equipment | 2.3M | 44.46M | 44.57M | 2.02M | 50M | 6.51M | 45.93M |
| Fixed Asset Turnover | - | - | - | - | - | - | 0.00x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 1.64M | 1.93M | 2.08M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 8.43M | 8.2M | 34.67M |
| Other Non-Current Assets | 0 | 0 | 0 | 43.15M | 0 | 41.02M | 41.02M |
| Total Assets | 18.32M▲ 0% | 54.69M▲ 198.4% | 133.13M▲ 143.4% | 94.78M▼ 28.8% | 68.9M▼ 27.3% | 63M▼ 8.6% | 175.62M▲ 0% |
| Asset Turnover | - | - | - | - | - | - | 0.00x |
| Asset Growth % | - | 198.44% | 143.44% | -28.81% | -27.31% | -8.56% | 362.79% |
| Total Current Liabilities | 1.8M | 7.76M | 26.57M | 41.61M | 31.33M | 54.53M | 46.83M |
| Accounts Payable | 1.8M | 4.32M | 26.57M | 0 | 0 | 42.75M | 3.77M |
| Days Payables Outstanding | - | - | - | - | - | 43.11K | 34.99K |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 11.78M | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 3.44M | 0 | 41.61M | 31.33M | 0 | 0 |
| Current Ratio | 8.89x | 1.32x | 3.33x | 1.19x | 0.28x | 0.10x | 0.10x |
| Quick Ratio | 8.89x | 1.32x | 3.33x | 1.19x | 0.28x | 0.10x | 0.10x |
| Cash Conversion Cycle | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 8.33M | 10.68M | 13.8M | 11.66M | 26.64M | 25.59M | 169.41M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 10.68M | 10.68M | 10.68M | 10.68M | 32.02M |
| Other Non-Current Liabilities | 8.33M | 10.68M | 3.13M | 983K | 15.97M | 14.91M | 231.25M |
| Total Liabilities | 10.14M | 18.43M | 40.37M | 53.27M | 57.98M | 80.12M | 216.24M |
| Total Debt | 0 | 0 | 0 | 0 | 0 | 11.78M | 0 |
| Net Debt | -15.95M | -10.1M | -84.87M | -46.84M | -6.84M | 8.29M | -115.65M |
| Debt / Equity | - | - | - | - | - | - | -0.00x |
| Debt / EBITDA | - | - | - | - | - | - | -0.00x |
| Net Debt / EBITDA | - | -0.18x | -0.57x | - | - | - | 1.04x |
| Interest Coverage | - | - | 149.14x | -156720.97x | - | -31.24x | -105.76x |
| Total Equity | 8.19M▲ 0% | 36.25M▲ 342.8% | 92.75M▲ 155.8% | 41.51M▼ 55.3% | 10.92M▼ 73.7% | -17.12M▼ 256.8% | -40.62M▲ 0% |
| Equity Growth % | - | 342.79% | 155.84% | -55.25% | -73.69% | -256.79% | -420.22% |
| Book Value per Share | 0.06 | 0.20 | 0.45 | 0.17 | 0.04 | -0.05 | -0.13 |
| Total Shareholders' Equity | 8.19M | 36.25M | 92.75M | 41.51M | 10.92M | -17.12M | -40.62M |
| Common Stock | 79.82M | 154.43M | 296.05M | 332.88M | 438.24M | 477.22M | 638.85M |
| Retained Earnings | -106.23M | -162.86M | -304.16M | -475.12M | -548.9M | -631.43M | -910.88M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -1.22M | -1.22M | -1.22M | -1.22M | -1.22M | -1.2M | -1.2M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
TMC Cash Flow Statement
TMC the metals company Inc. (TMC) cash flow — operating, investing & free cash flow history
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Cash from Operations | 0 | -26.53M | -56.09M | -66.6M | -59.57M | -43.47M | -43.47M |
| Operating CF Margin % | - | - | - | - | - | - | - |
| Operating CF Growth % | - | - | -111.41% | -18.74% | 10.56% | 27.03% | -58.66% |
| Net Income | -9.04K | -56.63M | -141.3M | -170.96M | -73.78M | -81.94M | -295.51M |
| Depreciation & Amortization | 0 | 563K | 452K | 418K | 360K | 362K | 255K |
| Stock-Based Compensation | 0 | 27.1M | 0 | 20.08M | 0 | 25.31M | 16.56M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 9.04K | 61K | 66.19M | 67.7M | 14.66M | 396K | 230.59M |
| Working Capital Changes | 0 | 2.38M | 18.57M | 16.16M | -813K | 12.4M | 2.82M |
| Change in Receivables | 0 | -110K | -3.48M | 960K | 748K | 127K | 991K |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 22.05M | 0 | -1.56M | 0 | 1.61M |
| Cash from Investing | 0 | -607K | -3.84M | -1.17M | -578K | -515K | 156K |
| Capital Expenditures | 0 | -607K | -402K | -1.17M | -578K | -515K | -190K |
| CapEx % of Revenue | - | - | - | - | - | - | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | -3.44M | 0 | 0 | 0 | 0 |
| Cash from Financing | 0 | 21.29M | 134.7M | 29.72M | 20.07M | 40.69M | 160.85M |
| Debt Issued (Net) | 0 | 0 | 26M | 0 | 5M | 11.78M | -11.78M |
| Equity Issued (Net) | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 3M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 919K | 104.47M | -677K | 0 | 145K | 16.9M |
| Net Change in Cash | 0▲ 0% | -5.86M▲ 0% | 74.78M▲ 1377.1% | -38M▼ 150.8% | -40M▼ 5.3% | -3.36M▲ 91.6% | 115.29M▲ 0% |
| Free Cash Flow | 0▲ 0% | -27.14M▲ 0% | -56.49M▼ 108.2% | -67.77M▼ 20.0% | -60.15M▲ 11.2% | -43.98M▲ 26.9% | -45.48M▲ 0% |
| FCF Margin % | - | - | - | - | - | - | - |
| FCF Growth % | - | - | -108.17% | -19.96% | 11.25% | 26.88% | 0.62% |
| FCF per Share | - | -0.15 | -0.28 | -0.28 | -0.21 | -0.14 | -0.14 |
| FCF Conversion (FCF/Net Income) | - | 0.47x | 0.40x | 0.39x | 0.81x | 0.53x | 0.15x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
TMC Key Ratios
TMC the metals company Inc. (TMC) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -254.86% | -219.06% | -254.68% | -281.48% | - | -16077.64% |
| Return on Invested Capital (ROIC) | 461.57% | 659.25% | -10278.45% | -1331.99% | - | 162.94% |
| Debt / Equity | - | - | - | - | - | -0.00x |
| Interest Coverage | - | 149.14x | -156720.97x | - | -31.24x | -105.76x |
| FCF Conversion | 0.47x | 0.40x | 0.39x | 0.81x | 0.53x | 0.15x |
TMC SEC Filings & Documents
TMC the metals company Inc. (TMC) SEC filings — annual & quarterly reports (10-K, 10-Q)
TMC Frequently Asked Questions
TMC the metals company Inc. (TMC) stock FAQ — growth, dividends, profitability & financials explained
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.
Explore More TMC
TMC the metals company Inc. (TMC) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
Dollar cost averaging vs lump sum
Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates