Collective Mining Ltd. (CNL) Balance Sheet
CNL balance sheet, 2025
December 31, 2025 · U.S. dollars$158.0M assets = $12.9M liabilities + $145.1M equity
Both columns are drawn to the same scale: what CNL owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CNL financial health
Descriptive bands, not a rating. Fiscal 2025.
CNL balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $4.27B2016 | $158.0M2025 | −30.7%/yr | |
| Total liabilities | $4.30B2016 | $12.9M2025 | −47.5%/yr | |
| Shareholders’ equity | −$28.9M2016 | $145.1M2025 | — | |
| Cash & short-term investments | $230.9M2016 | $129.6M2025 | −6.2%/yr | |
| Total debt | $1.25B2016 | $1.9M2025 | −51.5%/yr | |
| Net cash (debt) | −$1.02B2016 | $127.8M2025 | +$1.2B | |
| Working capital | $149.1M2016 | $122.6M2025 | −$26.5M | |
| Book value per share | −$0.482016 | $1.702025 | — | |
| Debt / equity | 1.362017 | 0.012025 | −1.35 | |
| Shares outstanding | 60.5M2016 | 85.3M2025 | +3.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CNL assets
CNL liabilities and equity
CNL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CNL balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $129.6M | $38.9M | $14.2M | $8.5M | $16.3M | $1.7M | $422.9M | $421.0M | $425.1M | $230.9M |
| Cash & equivalents | $129.6M | $38.9M | $14.2M | $8.5M | $16.3M | $1.7M | $116.3M | $110.2M | $119.0M | $21.5M |
| Short-term investments | — | — | — | — | — | — | $306.6M | $310.8M | $306.0M | $209.4M |
| Receivables | $133,761 | $94,131 | $18,371 | $42,776 | $20,881 | $8,784 | $83.6M | $50.0M | $60.1M | $56.8M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $118.9M | $92.7M | $85.4M | $81.8M |
| Other current assets | $1.5M | $589,524 | $328,795 | $297,526 | $370,456 | $438,022 | $12.7M | $1.3M | $1.1M | $577,000 |
| Total current assets | $131.3M | $39.6M | $14.5M | $8.8M | $16.7M | $2.2M | $638.1M | $565.0M | $571.7M | $370.1M |
| Property, plant & equipment (net) | $22.8M | $680,062 | $656,219 | $493,576 | $343,749 | $165,849 | $4.65B | $3.78B | $3.59B | $3.25B |
| Goodwill & intangible assets | $59,890 | $0 | $0 | $0 | $0 | $7,536 | $1.63B | $1.58B | $1.61B | $1.55B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $3.9M | $2.3M | $1.8M | $802,381 | $222,096 | $0 | $565.1M | $518.0M | $512.2M | $0 |
| Total assets | $158.0M | $42.6M | $17.0M | $10.1M | $17.3M | $2.3M | $7.48B | $6.44B | $6.28B | $4.27B |
| Liabilities | ||||||||||
| Accounts payable | — | — | — | — | — | — | $158.9M | $156.6M | $147.6M | $101.9M |
| Short-term debt | $722,050 | $82,795 | $32,918 | $31,538 | $55,727 | $127,970 | $44.7M | $21.1M | $19.2M | $19.7M |
| Deferred revenue | — | — | — | — | — | — | $58.3M | $61.7M | $614.8M | $1.03B |
| Total current liabilities | $8.7M | $5.5M | $4.2M | $3.2M | $1.6M | $346,214 | $511.3M | $379.1M | $300.4M | $221.0M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $1.9M | $155,527 | $119,697 | $76,611 | $121,654 | $142,841 | — | — | — | — |
| Other long-term liabilities | $4.3M | $72,731 | $86,779 | $45,073 | $65,927 | $98,321 | $710.1M | $3.51B | $3.48B | $2.33B |
| Total liabilities | $12.9M | $5.5M | $4.2M | $3.2M | $1.7M | $444,535 | $4.83B | $4.31B | $4.18B | $4.30B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $243.7M | $102.3M | $54.0M | $31.7M | $25.2M | $3.1M | — | — | — | $2.07B |
| Retained earnings (deficit) | −$132.2M | −$82.4M | −$55.4M | −$36.3M | −$19.0M | −$1.7M | — | $53.6M | $29.9M | −$24.1M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | $1.8M | −$2.9M | $1.5M |
| Total shareholders' equity | $145.1M | $37.0M | $12.7M | $6.9M | $15.6M | $1.9M | $2.64B | $2.12B | $2.10B | −$28.9M |
| Key figures | ||||||||||
| Total debt | $1.9M | $155,527 | $119,697 | $76,611 | $121,654 | $226,291 | $70.5M | $2.90B | $2.86B | $1.25B |
| Net cash (debt) | $127.8M | $38.8M | $14.0M | $8.4M | $16.2M | $1.5M | $352.5M | −$2.47B | −$2.43B | −$1.02B |
| Working capital | $122.6M | $34.1M | $10.4M | $5.7M | $15.1M | $1.8M | $126.7M | $185.9M | $271.4M | $149.1M |
| Tangible book value | $145.1M | $37.0M | $12.7M | $6.9M | $15.6M | $1.9M | $1.01B | $549.6M | $490.7M | −$1.58B |
| Book value per share | $1.70 | $0.54 | $0.22 | $0.14 | $0.43 | $0.05 | $43.70 | $35.13 | $34.66 | −$0.48 |
| Shares outstanding | 85.3M | 68.4M | 58.2M | 48.5M | 36.5M | 40.4M | 60.5M | 60.5M | 60.5M | 60.5M |
| Current ratio | 15.15 | 7.23 | 3.49 | 2.80 | 10.30 | 6.25 | 1.25 | 1.49 | 1.90 | 1.67 |
| Quick ratio | 14.98 | 7.13 | 3.41 | 2.71 | 10.07 | 4.99 | 0.99 | 1.24 | 1.62 | 1.30 |
| Debt / equity | 0.01 | 0.00 | 0.01 | 0.01 | 0.01 | 0.12 | 0.03 | 1.36 | 1.36 | — |
| Equity / assets | 91.8% | 87.0% | 75.0% | 68.4% | 90.2% | 81.0% | 35.4% | 33.0% | 33.4% | −0.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $93.7M | $113.3M | $129.6M | $52.9M | $70.7M | $78.0M | $38.9M | $15.5M | $21.1M | $23.7M | $14.2M | $19.8M |
| Cash & equivalents | $93.7M | $113.3M | $129.6M | $52.9M | $70.7M | $78.0M | $38.9M | $15.5M | $21.1M | $23.7M | $14.2M | $19.8M |
| Receivables | $2.0M | $69,320 | $133,761 | $40,631 | $322,004 | $127,987 | $94,131 | $53,811 | $46,752 | $55,550 | $18,371 | $28,191 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $2.2M | $1.5M | $1.3M | $662,617 | $962,557 | $589,524 | $759,515 | $348,897 | $350,469 | $328,795 | $421,080 |
| Total current assets | $95.7M | $115.6M | $131.3M | $54.3M | $71.7M | $79.1M | $39.6M | $16.3M | $21.5M | $24.1M | $14.5M | $20.3M |
| Property, plant & equipment (net) | $53.0M | $66.9M | $22.8M | $20.6M | $11.6M | $1.6M | $680,062 | $625,015 | $688,782 | $736,269 | $656,219 | $544,065 |
| Goodwill & intangible assets | $60,000 | $60,000 | $60,000 | $60,000 | $60,133 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $20.1M | $4.4M | $3.9M | $3.4M | $2.9M | $2.5M | $2.3M | $2.2M | $2.0M | $1.9M | $1.8M | $1.4M |
| Total assets | $168.8M | $186.9M | $158.0M | $78.4M | $86.3M | $83.3M | $42.6M | $19.1M | $24.2M | $26.8M | $17.0M | $22.3M |
| Liabilities | ||||||||||||
| Accounts payable | $10.1M | $6.4M | $4.8M | $6.9M | $4.0M | $3.3M | $2.2M | $2.4M | — | — | — | — |
| Short-term debt | $13.2M | $18.5M | $3.9M | $4.9M | $7.9M | $862,876 | $165,540 | $82,880 | $76,615 | $76,050 | $32,918 | $46,526 |
| Total current liabilities | $24.0M | $24.3M | $8.7M | $11.7M | $12.4M | $3.7M | $5.5M | $3.7M | $3.0M | $4.1M | $4.2M | $4.9M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $3.0M | $2.8M | $1.9M | $1.7M | $1.2M | $1.2M | $155,527 | $182,930 | $200,218 | $232,809 | $119,697 | $62,860 |
| Other long-term liabilities | $28.7M | $28.3M | $4.3M | $5.7M | $2.8M | $813,467 | $72,731 | $100,050 | $123,603 | $1.6M | $86,779 | $16,334 |
| Total liabilities | $52.7M | $52.6M | $12.9M | $17.4M | $15.2M | $4.6M | $5.5M | $3.8M | $3.1M | $5.6M | $4.2M | $4.9M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $244.2M | $243.8M | $243.7M | $146.9M | $147.2M | $146.8M | $102.3M | $71.1M | $70.9M | $66.6M | $54.0M | $53.7M |
| Retained earnings (deficit) | −$164.7M | −$144.6M | −$132.2M | −$118.6M | −$108.0M | −$99.3M | −$82.4M | −$72.8M | −$66.5M | −$60.1M | −$55.4M | −$50.1M |
| Total shareholders' equity | $116.1M | $134.3M | $145.1M | $61.0M | $71.1M | $78.7M | $37.0M | $15.3M | $21.1M | $21.2M | $12.7M | $17.4M |
| Key figures | ||||||||||||
| Total debt | $13.2M | $2.8M | $1.9M | $1.7M | $10.7M | $1.2M | $155,527 | $182,930 | $200,218 | $232,809 | $119,697 | $62,860 |
| Net cash (debt) | $80.6M | $110.6M | $127.8M | $51.2M | $60.0M | $76.8M | $38.8M | $15.3M | $20.9M | $23.5M | $14.0M | $19.8M |
| Working capital | $71.7M | $91.4M | $122.6M | $42.6M | $59.4M | $75.4M | $34.1M | $12.6M | $18.6M | $20.1M | $10.4M | $15.4M |
| Tangible book value | $116.0M | $134.3M | $145.1M | $60.9M | $71.0M | $78.7M | $37.0M | $15.3M | $21.1M | $21.2M | $12.7M | $17.4M |
| Book value per share | $1.25 | $1.45 | $1.70 | $0.72 | $0.90 | $1.00 | $0.54 | $0.22 | $0.31 | $0.33 | $0.21 | $0.29 |
| Shares outstanding | 92.7M | 92.6M | 85.3M | 84.9M | 78.7M | 78.7M | 68.4M | 68.3M | 67.9M | 63.4M | 61.2M | 60.5M |
| Current ratio | 3.99 | 4.77 | 15.15 | 4.64 | 5.80 | 21.16 | 7.23 | 4.36 | 7.26 | 5.91 | 3.49 | 4.15 |
| Quick ratio | 3.99 | 4.68 | 14.98 | 4.52 | 5.75 | 20.90 | 7.13 | 4.16 | 7.14 | 5.82 | 3.41 | 4.06 |
| Debt / equity | 0.11 | 0.02 | 0.01 | 0.03 | 0.15 | 0.02 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 |
| Equity / assets | 68.8% | 71.9% | 91.8% | 77.8% | 82.4% | 94.5% | 87.0% | 79.9% | 87.2% | 79.0% | 75.0% | 78.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 31, 2026); data from EODHD.
CNL financial position
At the end of fiscal 2025 (December 31, 2025), Collective Mining Ltd. had total assets of $158.0 million (up 271.4% from a year earlier), total liabilities of $12.9 million and shareholders' equity of $145.1 million. It held $129.6 million in cash and short-term investments against $1.9 million of debt, a net cash position of $127.8 million. Its current ratio was 15.15. In the latest quarter (ended June 30, 2026) total assets were $168.8 million and equity $116.1 million.
Related: CNL income statement, CNL cash flow statement, CNL key metrics. See the CNL stock overview for the latest quote and news.
CNL balance sheet FAQ
What are Collective Mining Ltd.'s total assets?
Collective Mining Ltd. reported total assets of $158.0 million at the end of fiscal 2025 (December 31, 2025), compared with $42.6 million a year earlier.
How much debt does Collective Mining Ltd. have?
Collective Mining Ltd. had $1.9 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.01.
How much cash does Collective Mining Ltd. have?
Collective Mining Ltd. held $129.6 million in cash and short-term investments at the end of fiscal 2025; with $1.9 million of debt that is net cash of $127.8 million.
What is Collective Mining Ltd.'s book value?
Collective Mining Ltd.'s shareholders' equity (book value) was $145.1 million at the end of fiscal 2025, or $1.70 per share.
What is Collective Mining Ltd.'s current ratio?
Collective Mining Ltd. had current assets of $131.3 million and current liabilities of $8.7 million, a current ratio of 15.15 (it can cover its short-term obligations).
How much goodwill does Collective Mining Ltd. have?
Collective Mining Ltd. carried $0.1 million of goodwill and intangible assets, 0.0% of total assets, at the end of fiscal 2025.