Almonty Industries Inc. (ALM) Balance Sheet

NASDAQ: ALMAssets, liabilities, debt and equity over 6 years.

ALM balance sheet, 2025

December 31, 2025 · Canadian dollars

C$589.7M assets = C$231.9M liabilities + C$357.8M equity

Both columns are drawn to the same scale: what ALM owns equals what it owes plus shareholders’ equity. Hover a block for its value.

ALM financial health

Current ratio3.89

Comfortable · current assets cover current liabilities 3.89×

Debt / equity0.45

Low leverage · C$0.45 of debt for each $1 of equity

Equity / assets60.7%

Equity-funded · of assets funded by shareholders

Cash / debt164.1%

Cash covers debt · cash & short-term investments vs total debt

Goodwill & intangibles0.0%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

ALM balance sheet trends, 2020–2025

Almonty Industries Inc. Common Shares balance sheet trends
Metric	Then	Latest	Change
Total assets	C$118.7M2020	C$589.7M2025	+37.8%/yr
Total liabilities	C$95.8M2020	C$231.9M2025	+19.3%/yr
Shareholders’ equity	C$22.9M2020	C$357.8M2025	+73.2%/yr
Cash & short-term investments	C$1.9M2020	C$265.9M2025	+169.7%/yr
Total debt	C$48.4M2020	C$162.1M2025	+27.4%/yr
Net cash (debt)	−C$46.5M2020	C$103.8M2025	+C$150.3M
Working capital	−C$44.7M2020	C$213.2M2025	+C$257.9M
Current ratio	0.152020	3.892025	+3.74
Debt / equity	2.112020	0.452025	−1.66
Shares outstanding	122.2M2020	208.0M2025	+11.2%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

ALM assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

ALM liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

ALM debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

ALM balance sheet in Canadian dollars

Almonty Industries Inc. Common Shares annual balance sheet
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	C$265.9M	C$7.8M	C$22.0M	C$8.4M	C$1.0M	C$1.9M
Cash & equivalents	C$265.9M	C$7.8M	C$22.0M	C$8.4M	C$1.0M	C$1.9M
Receivables	C$5.0M	C$3.5M	C$3.3M	C$2.7M	C$2.0M	C$313,575
Inventory	C$9.4M	C$6.7M	C$7.8M	C$5.7M	C$6.8M	C$4.8M
Other current assets	C$6.5M	C$2.5M	C$3.0M	C$4.0M	C$1.1M	C$728,534
Total current assets	C$286.9M	C$20.6M	C$36.2M	C$20.8M	C$10.9M	C$7.7M
Property, plant & equipment (net)	C$266.4M	C$201.9M	C$165.7M	C$138.7M	C$109.5M	C$84.5M
Goodwill & intangible assets	C$0	C$0	C$0	C$0	C$0	C$0
Long-term investments	C$0	C$0	C$0	C$0	C$0	C$0
Other non-current assets	C$36.4M	C$33.9M	C$33.4M	C$33.3M	C$45.5M	C$26.5M
Total assets	C$589.7M	C$256.3M	C$235.3M	C$192.8M	C$165.9M	C$118.7M
Liabilities
Accounts payable	C$21.1M	C$18.5M	C$19.7M	C$13.2M	C$12.3M	C$10.0M
Short-term debt	C$27.3M	C$21.9M	C$34.2M	C$30.3M	C$18.7M	C$38.6M
Deferred revenue	C$3.1M	C$74,000	C$1.1M	C$624,000	C$1.3M	—
Total current liabilities	C$73.7M	C$51.1M	C$66.7M	C$54.9M	C$41.0M	C$52.5M
Long-term debt	C$134.8M	C$136.1M	C$95.9M	C$59.1M	C$49.0M	C$0
Other long-term liabilities	C$23.3M	C$30.0M	C$24.2M	C$39.1M	C$38.4M	C$43.3M
Total liabilities	C$231.9M	C$217.3M	C$186.8M	C$153.1M	C$128.4M	C$95.8M
Shareholders' equity
Common stock & paid-in capital	C$568.0M	C$146.5M	C$127.4M	C$119.4M	C$112.4M	C$72.7M
Retained earnings (deficit)	−C$282.1M	−C$120.2M	−C$103.9M	−C$95.1M	−C$80.6M	−C$57.2M
Accumulated other comprehensive income	−C$7.8M	−C$4.6M	C$11.5M	C$3.4M	−C$2.6M	C$3.0M
Total shareholders' equity	C$357.8M	C$39.1M	C$48.5M	C$39.8M	C$37.5M	C$22.9M
Key figures
Total debt	C$162.1M	C$158.0M	C$130.1M	C$89.5M	C$67.7M	C$48.4M
Net cash (debt)	C$103.8M	−C$150.2M	−C$108.0M	−C$81.0M	−C$66.7M	−C$46.5M
Working capital	C$213.2M	−C$30.5M	−C$30.5M	−C$34.1M	−C$30.1M	−C$44.7M
Tangible book value	C$357.8M	C$39.1M	C$48.5M	C$39.8M	C$37.5M	C$22.9M
Shares outstanding	208.0M	169.4M	151.1M	142.1M	132.1M	122.2M
Current ratio	3.89	0.40	0.54	0.38	0.27	0.15
Quick ratio	3.67	0.22	0.38	0.20	0.07	0.04
Debt / equity	0.45	4.04	2.68	2.25	1.81	2.11
Equity / assets	60.7%	15.2%	20.6%	20.6%	22.6%	19.3%

Almonty Industries Inc. Common Shares quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23
Assets
Cash & short-term investments	C$1.23B	C$259.9M	C$265.9M	C$111.6M	C$24.7M	C$17.0M	C$7.8M	C$12.9M	C$5.6M	C$12.2M	C$16.6M
Cash & equivalents	C$1.22B	C$259.9M	C$265.9M	C$111.6M	C$24.7M	C$17.0M	C$7.8M	C$12.9M	C$5.6M	C$12.2M	C$16.6M
Receivables	C$13.1M	C$12.8M	C$5.0M	C$4.9M	C$4.3M	C$3.6M	C$3.5M	C$4.0M	C$2.0M	C$1.4M	C$2.0M
Inventory	C$8.7M	C$9.3M	C$9.4M	C$6.8M	C$7.6M	C$7.1M	C$6.7M	C$6.7M	C$4.9M	C$4.9M	C$5.9M
Other current assets	C$9.4M	C$4.7M	C$6.5M	C$5.1M	C$6.7M	C$3.4M	C$2.5M	C$2.7M	C$2.6M	C$2.6M	C$2.8M
Total current assets	C$1.26B	C$286.6M	C$286.9M	C$128.4M	C$43.3M	C$31.1M	C$20.6M	C$26.3M	C$15.1M	C$21.1M	C$27.4M
Property, plant & equipment (net)	C$305.8M	C$282.7M	C$266.4M	C$267.4M	C$235.5M	C$212.6M	C$201.9M	C$194.4M	C$129.3M	C$126.7M	C$125.0M
Goodwill & intangible assets	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0
Long-term investments	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0
Other non-current assets	C$139.8M	C$36.3M	C$36.4M	C$37.4M	C$36.8M	C$35.4M	C$33.9M	C$34.6M	C$24.5M	C$24.7M	C$25.2M
Total assets	C$1.70B	C$605.6M	C$589.7M	C$433.1M	C$315.6M	C$279.0M	C$256.3M	C$255.3M	C$169.0M	C$172.5M	C$177.6M
Liabilities
Accounts payable	C$28.9M	C$23.5M	C$21.1M	C$18.4M	C$22.5M	C$18.7M	C$18.5M	C$12.9M	C$8.9M	C$11.6M	C$14.8M
Short-term debt	C$57.6M	C$56.9M	C$27.3M	C$22.9M	C$21.4M	C$17.7M	C$21.9M	C$36.5M	C$3.0M	C$17.5M	C$25.8M
Deferred revenue	—	C$3.4M	C$3.1M	C$78,000	C$78,000	C$76,000	C$74,000	C$118,000	—	—	—
Total current liabilities	C$131.3M	C$117.1M	C$73.7M	C$54.0M	C$56.3M	C$47.8M	C$51.1M	C$59.6M	C$19.6M	C$36.3M	C$50.3M
Long-term debt	C$755.6M	C$108.5M	C$134.8M	C$174.4M	C$171.3M	C$153.9M	C$136.1M	C$113.3M	C$128.7M	C$104.9M	C$0
Other long-term liabilities	C$265.3M	C$23.2M	C$23.3M	C$33.4M	C$77.5M	C$59.2M	C$30.0M	C$26.8M	C$0	C$0	C$90.7M
Total liabilities	C$1.15B	C$248.8M	C$231.9M	C$261.8M	C$305.1M	C$260.9M	C$217.3M	C$199.6M	C$132.2M	C$131.9M	C$141.0M
Shareholders' equity
Common stock & paid-in capital	C$647.8M	C$638.6M	C$568.0M	C$317.1M	C$191.1M	C$157.4M	C$146.5M	C$142.3M	C$104.0M	C$103.6M	C$96.1M
Retained earnings (deficit)	−C$105.6M	−C$287.4M	−C$282.1M	−C$179.9M	−C$213.1M	−C$154.8M	−C$120.2M	−C$114.8M	−C$80.0M	−C$79.5M	−C$78.4M
Accumulated other comprehensive income	−C$4.7M	−C$13.3M	−C$7.8M	C$12.5M	C$9.0M	−C$3.1M	−C$4.6M	C$11.6M	C$2.6M	C$6.8M	C$9.6M
Total shareholders' equity	C$551.8M	C$356.9M	C$357.8M	C$171.3M	C$10.5M	C$18.1M	C$39.1M	C$55.7M	C$36.7M	C$40.6M	C$36.6M
Key figures
Total debt	C$813.1M	C$165.3M	C$162.1M	C$197.3M	C$192.7M	C$171.6M	C$158.0M	C$149.7M	C$97.0M	C$94.9M	C$98.2M
Net cash (debt)	C$414.1M	C$94.5M	C$103.8M	−C$85.7M	−C$168.0M	−C$154.6M	−C$150.2M	−C$136.9M	−C$91.5M	−C$82.7M	−C$81.5M
Working capital	C$1.13B	C$169.5M	C$213.2M	C$74.4M	−C$13.1M	−C$16.7M	−C$30.5M	−C$33.3M	−C$4.5M	−C$15.2M	−C$23.0M
Tangible book value	C$551.8M	C$356.9M	C$357.8M	C$171.3M	C$10.5M	C$18.1M	C$39.1M	C$55.7M	C$36.7M	C$40.6M	C$36.6M
Shares outstanding	288.1M	278.4M	262.8M	258.4M	192.1M	184.2M	172.6M	172.4M	170.1M	162.2M	154.7M
Current ratio	9.58	2.45	3.89	2.38	0.77	0.65	0.40	0.44	0.77	0.58	0.54
Quick ratio	9.44	2.33	3.67	2.16	0.52	0.43	0.22	0.28	0.39	0.37	0.37
Debt / equity	1.47	0.46	0.45	1.15	18.42	9.48	4.04	2.69	2.64	2.34	2.68
Equity / assets	32.4%	58.9%	60.7%	39.6%	3.3%	6.5%	15.2%	21.8%	21.7%	23.5%	20.6%

Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported (latest annual report filed December 31, 2025); data from EODHD.

ALM financial position

At the end of fiscal 2025 (December 31, 2025), Almonty Industries Inc. had total assets of C$589.7 million (up 130.1% from a year earlier), total liabilities of C$231.9 million and shareholders' equity of C$357.8 million. It held C$265.9 million in cash and short-term investments against C$162.1 million of debt, a net cash position of C$103.8 million. Its current ratio was 3.89. In the latest quarter (ended June 30, 2026) total assets were C$1.7 billion and equity C$551.8 million.

Related: ALM income statement, ALM cash flow statement, ALM key metrics. See the ALM stock overview for the latest quote and news.

ALM balance sheet FAQ

What are Almonty Industries Inc.'s total assets?

Almonty Industries Inc. reported total assets of C$589.7 million at the end of fiscal 2025 (December 31, 2025), compared with C$256.3 million a year earlier.

How much debt does Almonty Industries Inc. have?

Almonty Industries Inc. had C$162.1 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.45.

How much cash does Almonty Industries Inc. have?

Almonty Industries Inc. held C$265.9 million in cash and short-term investments at the end of fiscal 2025; with C$162.1 million of debt that is net cash of C$103.8 million.

What is Almonty Industries Inc.'s book value?

Almonty Industries Inc.'s shareholders' equity (book value) was C$357.8 million at the end of fiscal 2025.

What is Almonty Industries Inc.'s current ratio?

Almonty Industries Inc. had current assets of C$286.9 million and current liabilities of C$73.7 million, a current ratio of 3.89 (it can cover its short-term obligations).