Contango Ore, Inc. (CTGO) Balance Sheet
CTGO balance sheet, 2025
December 31, 2025 · U.S. dollars$172.0M assets = $146.9M liabilities + $25.1M equity
Both columns are drawn to the same scale: what CTGO owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CTGO financial health
Descriptive bands, not a rating. Fiscal 2025.
CTGO balance sheet trends, 2020–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $3.1M2020 | $172.0M2025 | +56.3%/yr | |
| Total liabilities | $1.1M2020 | $146.9M2025 | +72.4%/yr | |
| Shareholders’ equity | $2.0M2020 | $25.1M2025 | +32.5%/yr | |
| Cash & short-term investments | $3.0M2020 | $64.8M2025 | +40.6%/yr | |
| Total debt | $19.2M2021 | $33.9M2025 | +9.9%/yr | |
| Net cash (debt) | $16.0M2021 | $31.0M2025 | +$15.0M | |
| Working capital | $2.0M2020 | −$8.0M2025 | −$10.0M | |
| Book value per share | $1.972022 | $1.952025 | −0.3%/yr | |
| Current ratio | 2.832020 | 0.902025 | −1.94 | |
| Debt / equity | 0.562021 | 1.352025 | +0.79 | |
| Shares outstanding | 6.7M2022 | 12.9M2025 | +13.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CTGO assets
CTGO liabilities and equity
CTGO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CTGO balance sheet
| 2025 | 2024 | 2023 | 2023 | 2022 | 2022 | 2021 | 2021 | 2020 | 2020 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $64.8M | $20.1M | $15.5M | $11.6M | $23.1M | $23.1M | $35.2M | $35.2M | $3.0M | $3.0M |
| Cash & equivalents | $64.8M | $20.1M | $15.5M | $11.6M | $23.1M | $23.1M | $35.2M | $35.2M | $3.0M | $3.0M |
| Short-term investments | — | — | $232,572 | — | — | — | — | — | — | — |
| Receivables | $106,244 | $649,125 | $0 | $0 | $0 | $198,126 | $198,126 | $198,126 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $3.4M | $1.4M | $1.3M | $644,907 | $684,353 | $486,227 | $515,635 | $515,635 | $72,244 | $72,244 |
| Total current assets | $68.3M | $22.1M | $16.9M | $12.3M | $23.8M | $23.8M | $35.9M | $35.9M | $3.1M | $3.1M |
| Property, plant & equipment (net) | $52.1M | $50.6M | $13.3M | $13.4M | $13.5M | $13.5M | $36,531 | $36,531 | $36,531 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $51.5M | $61.2M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $0 | $28.4M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total assets | $172.0M | $133.9M | $58.6M | $25.7M | $37.3M | $37.3M | $36.0M | $36.0M | $3.1M | $3.1M |
| Liabilities | ||||||||||
| Accounts payable | $1.0M | $418,836 | $250,739 | $220,755 | $633,856 | $633,856 | $26,268 | $26,268 | $83,158 | $83,158 |
| Short-term debt | $4.0M | $42.6M | $7.9M | — | — | — | — | — | — | — |
| Deferred revenue | — | — | −$250,739 | — | — | — | — | — | — | — |
| Total current liabilities | $76.3M | $75.8M | $13.1M | $2.3M | $1.5M | $1.5M | $222,105 | $222,105 | $1.1M | $1.1M |
| Long-term debt | $29.9M | $26.4M | $0 | $25.5M | $25.5M | $19.2M | $19.2M | $0 | $0 | $0 |
| Other long-term liabilities | $40.7M | $30.5M | $60.1M | $2.7M | $0 | $3.3M | $0 | $1.2M | $1.2M | $83,158 |
| Total liabilities | $146.9M | $132.6M | $73.1M | $30.4M | $24.0M | $24.0M | $1.4M | $1.4M | $1.1M | $1.1M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $149,687 | $122,308 | $94,542 | $77,817 | $68,604 | $68,604 | $66,757 | $66,757 | $65,901 | $65,901 |
| Retained earnings (deficit) | −$213.2M | −$177.1M | −$139.0M | −$98.3M | −$58.5M | −$58.5M | −$35.0M | −$35.0M | −$58.9M | −$58.9M |
| Treasury stock | — | — | — | — | — | — | — | — | — | −$476,672 |
| Accumulated other comprehensive income | — | — | $0 | — | $0 | $0 | $0 | $0 | $0 | $0 |
| Total shareholders' equity | $25.1M | $1.3M | −$14.5M | −$4.8M | $13.3M | $13.3M | $34.5M | $34.5M | $2.0M | $2.0M |
| Key figures | ||||||||||
| Total debt | $33.9M | $69.0M | $44.7M | $25.5M | $19.2M | $19.2M | $19.2M | — | — | — |
| Net cash (debt) | $31.0M | −$48.9M | −$29.2M | −$13.8M | $3.9M | $3.9M | $16.0M | — | — | — |
| Working capital | −$8.0M | −$53.7M | $3.8M | $10.0M | $22.3M | $22.3M | $35.7M | $35.7M | $2.0M | $2.0M |
| Tangible book value | $25.1M | $1.3M | −$14.5M | −$4.8M | $13.3M | $13.3M | $34.5M | $34.5M | $2.0M | $2.0M |
| Book value per share | $1.95 | $0.12 | −$1.58 | −$0.67 | $1.97 | $1.97 | — | — | — | — |
| Shares outstanding | 12.9M | 10.9M | 9.2M | 7.1M | 6.7M | 6.7M | — | — | — | — |
| Current ratio | 0.90 | 0.29 | 1.29 | 5.35 | 15.80 | 15.80 | 161.79 | 161.79 | 2.83 | 2.83 |
| Quick ratio | 0.85 | 0.27 | 1.19 | 5.07 | 15.35 | 15.48 | 159.47 | 159.47 | 2.76 | 2.76 |
| Debt / equity | 1.35 | 54.19 | — | — | 1.45 | 1.45 | 0.56 | — | — | — |
| Equity / assets | 14.6% | 1.0% | −24.8% | −18.6% | 35.6% | 35.6% | 96.0% | 96.0% | 64.7% | 64.7% |
| 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 | $89.0M | $97.5M | $64.8M | $107.0M | $20.1M | $35.0M | $20.1M | $36.2M | $15.5M | $7.6M | $15.5M | $18.5M |
| Cash & equivalents | $89.0M | $97.5M | $64.8M | $107.0M | $20.1M | $35.0M | $20.1M | $36.2M | $15.5M | $7.6M | $15.5M | $18.5M |
| Short-term investments | — | — | — | — | — | — | — | −$1 | — | — | — | — |
| Receivables | $0 | $106,244 | $106,244 | $99,126 | $649,125 | $649,125 | $649,125 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $803,824 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $6.0M | $4.5M | $3.4M | $974,576 | $567,743 | $1.4M | $1.4M | $1.3M | $1.3M | $1.4M | $1.3M | $1.6M |
| Total current assets | $95.0M | $102.1M | $68.3M | $108.1M | $22.1M | $37.1M | $22.1M | $37.5M | $16.9M | $9.0M | $16.9M | $20.1M |
| Property, plant & equipment (net) | $346.4M | $339.6M | $52.1M | $50.4M | $50.6M | $50.5M | $50.6M | $52.5M | $13.3M | $13.3M | $13.3M | $13.4M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $55.4M | $54.6M | $51.5M | $59.2M | $63.8M | $59.8M | $61.2M | $68.3M | $54.5M | $43.4M | $28.1M | $21.4M |
| Other non-current assets | $0 | $0 | $0 | $0 | $0 | $284 | $0 | $76,924 | $0 | $436,333 | $350,575 | $0 |
| Total assets | $496.8M | $496.2M | $172.0M | $217.7M | $133.9M | $147.4M | $133.9M | $158.3M | $58.6M | $66.2M | $58.6M | $54.9M |
| Liabilities | ||||||||||||
| Accounts payable | $9.5M | $2.5M | $1.0M | $9.5M | $418,836 | $8.9M | $418,836 | $2.4M | $250,739 | $420,850 | $250,739 | $2.1M |
| Short-term debt | — | $12.0M | $4.0M | $11.5M | $42.6M | $24.7M | $42.6M | $34.9M | $7.9M | $21.7M | $7.9M | $2.0M |
| Deferred revenue | — | — | — | — | — | — | — | — | −$790.6M | −$420.9M | $2.2M | −$870.9M |
| Total current liabilities | $89.4M | $80.2M | $76.3M | $95.2M | $75.8M | $91.0M | $75.8M | $80.5M | $13.1M | $32.7M | $13.1M | $5.0M |
| Long-term debt | $19.5M | $21.0M | $29.9M | $30.6M | $31.0M | $31.4M | $26.4M | $39.0M | $44.7M | $35.4M | $36.8M | $32.9M |
| Other long-term liabilities | $56.4M | $73.6M | $40.7M | $44.1M | $25.8M | $45.5M | $30.5M | $49.1M | $15.4M | $32.1M | $23.3M | $6.0M |
| Total liabilities | $165.3M | $174.7M | $146.9M | $169.8M | $132.6M | $167.9M | $132.6M | $168.6M | $73.1M | $100.2M | $73.1M | $43.8M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | $305,150 | $149,687 | $149,622 | $122,308 | $125,418 | $122,308 | $122,261 | $94,542 | $96,160 | $94,542 | $93,951 |
| Retained earnings (deficit) | −$222.7M | −$227.5M | −$213.2M | −$189.1M | −$177.1M | −$199.6M | −$177.1M | −$187.8M | −$139.0M | −$159.5M | −$139.0M | −$111.4M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | $0 | $0 | — | $0 |
| Total shareholders' equity | $331.5M | $321.5M | $25.1M | $47.8M | $1.3M | −$20.5M | $1.3M | −$10.2M | −$14.5M | −$34.0M | −$14.5M | $11.0M |
| Key figures | ||||||||||||
| Total debt | $19.5M | $33.0M | $33.9M | $42.1M | $69.0M | $56.1M | $69.0M | $73.9M | $44.7M | $57.1M | $44.7M | $34.9M |
| Net cash (debt) | $69.5M | $64.5M | $31.0M | $64.9M | −$48.9M | −$21.1M | −$48.9M | −$37.7M | −$29.2M | −$49.5M | −$29.2M | −$16.3M |
| Working capital | $5.7M | $21.9M | −$8.0M | $12.9M | −$53.7M | −$53.9M | −$53.7M | −$43.0M | $3.8M | −$23.7M | $3.8M | $15.1M |
| Tangible book value | $331.5M | $321.5M | $25.1M | $47.8M | $1.3M | −$20.5M | $1.3M | −$10.2M | −$14.5M | −$34.0M | −$14.5M | $11.0M |
| Book value per share | $10.25 | $18.65 | $1.95 | $3.86 | $0.10 | −$1.71 | $0.10 | −$0.85 | −$1.49 | −$3.55 | −$1.55 | $1.24 |
| Shares outstanding | 32.3M | 17.2M | 12.9M | 12.4M | 12.3M | 12.0M | 12.2M | 12.0M | 9.8M | 9.6M | 9.4M | 8.9M |
| Current ratio | 1.06 | 1.27 | 0.90 | 1.14 | 0.29 | 0.41 | 0.29 | 0.47 | 1.29 | 0.28 | 1.29 | 4.02 |
| Quick ratio | 1.00 | 1.22 | 0.85 | 1.12 | 0.27 | 0.39 | 0.27 | 0.45 | 1.19 | 0.23 | 1.19 | 3.70 |
| Debt / equity | 0.06 | 0.10 | 1.35 | 0.88 | 54.19 | — | 54.19 | — | — | — | — | 3.16 |
| Equity / assets | 66.7% | 64.8% | 14.6% | 22.0% | 1.0% | −13.9% | 1.0% | −6.5% | −24.8% | −51.5% | −24.8% | 20.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 16, 2026); data from EODHD.
CTGO financial position
At the end of fiscal 2025 (December 31, 2025), Contango Ore had total assets of $172.0 million (up 28.4% from a year earlier), total liabilities of $146.9 million and shareholders' equity of $25.1 million. It held $64.8 million in cash and short-term investments against $33.9 million of debt, a net cash position of $31.0 million. Its current ratio was 0.90. In the latest quarter (ended June 30, 2026) total assets were $496.8 million and equity $331.5 million.
Related: CTGO income statement, CTGO cash flow statement, CTGO key metrics. See the CTGO stock overview for the latest quote and news.
CTGO balance sheet FAQ
What are Contango Ore's total assets?
Contango Ore reported total assets of $172.0 million at the end of fiscal 2025 (December 31, 2025), compared with $133.9 million a year earlier.
How much debt does Contango Ore have?
Contango Ore had $33.9 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 1.35.
How much cash does Contango Ore have?
Contango Ore held $64.8 million in cash and short-term investments at the end of fiscal 2025; with $33.9 million of debt that is net cash of $31.0 million.
What is Contango Ore's book value?
Contango Ore's shareholders' equity (book value) was $25.1 million at the end of fiscal 2025, or $1.95 per share.
What is Contango Ore's current ratio?
Contango Ore had current assets of $68.3 million and current liabilities of $76.3 million, a current ratio of 0.90 (current liabilities exceed current assets).