Latest Ratios: P/E Ratio -120.7x · EV/EBITDA N/A · ROE -91.9%. (2020–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Market Cap | $1.8B | $2.0B | $150M | $95M | — | — | — |
| Enterprise Value | $1.8B | $1.9B | $147M | $84M | — | — | — |
| P/E Ratio → | -120.71 | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — |
| P/B Ratio | 221.05 | 258.20 | 33.83 | 7.77 | — | — | — |
| P/FCF | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — | — |
| EV / EBITDA | — | 3315.96 | — | — | — | — | — |
| EV / EBIT | — | 8116.46 | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | -91.9% | — | -101.9% | -4.3% | — | — | -969.8% |
| ROA | -82.8% | — | -93.4% | -3.5% | -519.5% | -117.7% | -79.9% |
| ROIC | — | — | -823.2% | -147.4% | — | -134.8% | — |
| ROCE | -90.2% | — | -103.2% | -4.9% | — | -724.0% | -237.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.02 | 0.01 | — | — | 8.06 |
| Debt / EBITDA | — | 0.15 | — | — | — | — | — |
| Net Debt / Equity | — | -3.27 | -0.85 | -0.92 | — | — | 7.99 |
| Net Debt / EBITDA | — | -42.48 | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — |
Net cash position: cash ($25M) exceeds total debt ($88392)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 13.57 | 13.57 | 9.80 | 23.40 | 0.18 | 0.05 | 0.02 |
| Quick Ratio | 13.52 | 13.52 | 9.72 | 23.35 | 0.10 | 0.05 | 0.02 |
| Cash Ratio | 47.10 | 47.10 | 9.23 | 22.22 | 0.04 | 0.01 | 0.01 |
| Asset Turnover | — | — | — | — | — | — | — |
| Inventory Turnover | 5.07 | — | 3.60 | 0.30 | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $199M | $12M | $12M | $12M | $12M | $12M |
Exploration funding dependency
Based on reported financial statements, USGO trades at a price-to-book ratio of 214.51, a figure that reflects the market's speculative pricing of its Alaskan mineral assets rather than any underlying tangible book value or current earnings power.
The extreme P/B multiple suggests that investors are assigning significant option value to the Whistler project's potential resource base. This valuation is highly sensitive to market sentiment regarding junior mining equities, as there are no earnings or sales to anchor the stock price, leaving it vulnerable to sharp corrections if exploration results fail to meet expectations.
As indicated by recent quarterly data, the company's ROIC has fluctuated significantly, reaching -2.6% in 2026Q1, which underscores the inherent difficulty of generating positive returns on invested capital while the business remains in a pre-revenue, capital-intensive exploration phase.
The negative ROIC trend is a direct consequence of ongoing diamond drilling and geological evaluation costs that are expensed rather than capitalized. Investors should monitor whether these expenditures eventually lead to a resource expansion that justifies the current capital depletion, as the current trajectory indicates a persistent destruction of shareholder value.
According to recent SEC filings, USGO's current ratio dropped from 23.40 in 2023Q4 to 10.12 in 2026Q1, signaling a rapid depletion of liquid assets as the company funds its aggressive exploration programs without any offsetting commercial revenue streams.
While the current ratio remains numerically high, the absolute cash balance has plummeted, significantly narrowing the company's operational runway. This trend suggests that the company may face liquidity constraints sooner than anticipated, potentially forcing management to seek dilutive financing in an unfavorable market environment.
As reported in financial statements, the use of P/E ratios to evaluate USGO is fundamentally flawed, as the company's negative net margins of -117.14% TTM are a structural feature of its exploration-stage business model rather than a sign of operational failure.
Analysts often misapply earnings-based multiples to junior miners, which obscures the fact that these companies are essentially 'geological balance sheets' rather than operating businesses. A more appropriate focus would be the cost of discovery per ounce or the cash burn rate relative to the remaining exploration timeline, rather than traditional profitability metrics that are irrelevant for pre-revenue entities.
Includes 30+ ratios · 6 years · Updated daily
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Quick answers to the most common questions about buying USGO stock.
U.S. GoldMining Inc.'s current P/E ratio is -120.7x. This places it at the 50th percentile of its historical range.
U.S. GoldMining Inc.'s return on equity (ROE) is -91.9%. The historical average is -53.1%.
Based on historical data, U.S. GoldMining Inc. is trading at a P/E of -120.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.