Electra Battery Materials Corporation (ELBM) Balance Sheet

NASDAQ: ELBMAssets, liabilities, debt and equity over 10 years.

ELBM balance sheet, 2025

December 31, 2025 · Canadian dollars

C$185.6M assets = C$139.3M liabilities + C$46.2M equity

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

ELBM financial health

Current ratio0.46

Tight · current assets cover current liabilities 0.46×

Debt / equity0.94

Moderate leverage · C$0.94 of debt for each $1 of equity

Equity / assets24.9%

Balanced · of assets funded by shareholders

Cash / debt89.8%

Partial cover · cash & short-term investments vs total debt

Goodwill & intangibles0.0%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

ELBM balance sheet trends, 2016–2025

Electra Battery Materials Corporation balance sheet trends
Metric	Then	Latest	Change
Total assets	C$8.3M2016	C$185.6M2025	+41.3%/yr
Total liabilities	C$399,6972016	C$139.3M2025	+91.6%/yr
Shareholders’ equity	C$7.9M2016	C$46.2M2025	+21.7%/yr
Cash & short-term investments	C$5.3M2016	C$39.0M2025	+24.7%/yr
Total debt	C$6.3M2019	C$43.4M2025	+37.9%/yr
Net cash (debt)	−C$1.9M2019	−C$4.4M2025	−C$2.5M
Working capital	C$5.7M2016	−C$47.7M2025	−C$53.4M
Current ratio	15.262016	0.462025	−14.80
Debt / equity	0.072019	0.942025	+0.87
Shares outstanding	228K2016	32.1M2025	+73.3%/yr

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

ELBM assets

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

ELBM liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

ELBM debt vs cash

Total debtCash & ST investmentsNet cash (debt)

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

ELBM balance sheet in Canadian dollars

Electra Battery Materials Corporation annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	C$39.0M	C$3.7M	C$8.2M	C$8.4M	C$60.4M	C$4.2M	C$4.4M	C$3.3M	C$29.8M	C$5.3M
Cash & equivalents	C$39.0M	C$3.7M	C$7.6M	C$8.0M	C$58.6M	C$4.2M	C$4.4M	C$3.3M	C$29.8M	C$5.3M
Short-term investments	C$0	C$12,000	C$595,000	C$433,000	C$1.8M	C$0	C$26	C$19,431	C$89,588	—
Receivables	C$666,000	C$1.3M	C$1.1M	C$3.1M	C$957,000	C$221,000	C$263,114	C$1.7M	C$728,605	C$467,880
Inventory	C$0	C$0	−C$1.1M	C$0	C$0	−C$138	C$11,500	C$11,500	C$0	C$0
Other current assets	C$812,000	C$672,000	C$2.4M	C$2.1M	C$584,000	C$6.1M	C$432,419	C$236,796	C$698,467	C$292,540
Total current assets	C$40.5M	C$5.7M	C$10.6M	C$13.5M	C$61.9M	C$10.5M	C$5.1M	C$5.2M	C$31.2M	C$6.1M
Property, plant & equipment (net)	C$143.9M	C$144.5M	C$136.9M	C$173.1M	C$104.7M	C$92.3M	C$92.3M	C$198.7M	C$110.6M	C$2.2M
Goodwill & intangible assets	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
Other non-current assets	C$1.2M	C$1.2M	C$1.2M	C$938,000	C$938,000	C$919,000	C$918,732	C$702,560	C$0	C$0
Total assets	C$185.6M	C$151.4M	C$148.7M	C$187.5M	C$167.6M	C$103.7M	C$98.3M	C$204.6M	C$141.8M	C$8.3M
Liabilities
Accounts payable	C$5.8M	C$3.6M	C$8.8M	C$18.9M	C$3.5M	C$981,000	C$151,628	C$2.3M	C$1.5M	C$348,724
Short-term debt	C$109,955	C$64.0M	C$40.1M	C$25.7M	—	—	—	—	—	—
Deferred revenue	C$642,000	—	—	C$1.3M	—	—	—	—	—	—
Total current liabilities	C$88.2M	C$72.0M	C$56.1M	C$54.1M	C$4.7M	C$2.8M	C$286,589	C$3.9M	C$3.5M	C$399,697
Long-term debt	C$43.4M	C$7.8M	C$44.4M	C$3.8M	C$23.3M	C$6.7M	C$6.3M	C$0	C$0	C$0
Lease obligations	C$82,000	C$133,000	C$175,000	C$218,000	C$0	—	—	—	—	—
Other long-term liabilities	C$7.8M	C$7.3M	C$0	C$3.1M	C$39.7M	C$2.0M	C$3.2M	C$2.3M	C$800,000	C$312,660
Total liabilities	C$139.3M	C$87.1M	C$65.4M	C$61.0M	C$67.6M	C$11.5M	C$9.8M	C$6.2M	C$4.3M	C$399,697
Shareholders' equity
Common stock & paid-in capital	C$420.0M	C$307.7M	C$304.7M	C$288.9M	C$276.2M	C$234.6M	C$230.4M	C$225.5M	C$141.9M	C$10.4M
Retained earnings (deficit)	−C$408.4M	−C$274.9M	−C$245.4M	−C$180.8M	−C$193.3M	−C$158.4M	−C$156.0M	−C$39.6M	−C$12.8M	−C$4.2M
Accumulated other comprehensive income	C$34.6M	C$31.5M	C$24.0M	C$18.4M	C$17.1M	C$15.9M	C$14.2M	C$12.5M	C$2.2M	C$1.7M
Total shareholders' equity	C$46.2M	C$64.3M	C$83.3M	C$126.5M	C$100.0M	C$92.2M	C$88.6M	C$198.4M	C$137.5M	C$7.9M
Key figures
Total debt	C$43.4M	C$71.9M	C$44.6M	C$29.7M	C$23.3M	C$6.7M	C$6.3M	—	—	—
Net cash (debt)	−C$4.4M	−C$68.2M	−C$36.4M	−C$21.3M	C$37.1M	−C$2.5M	−C$1.9M	—	—	—
Working capital	−C$47.7M	−C$66.3M	−C$45.5M	−C$40.6M	C$57.2M	C$7.6M	C$4.8M	C$1.3M	C$27.8M	C$5.7M
Tangible book value	C$46.2M	C$64.3M	C$83.3M	C$126.5M	C$100.0M	C$92.2M	C$88.6M	C$198.4M	C$137.5M	C$7.9M
Shares outstanding	32.1M	14.3M	10.9M	10.2M	6.9M	5.4M	5.0M	4.0M	1.0M	228K
Current ratio	0.46	0.08	0.19	0.25	13.16	3.68	17.89	1.35	8.98	15.26
Quick ratio	0.45	0.07	0.16	0.21	13.03	1.55	16.34	1.28	8.78	14.53
Debt / equity	0.94	1.12	0.54	0.23	0.23	0.07	0.07	—	—	—
Equity / assets	24.9%	42.5%	56.0%	67.5%	59.6%	88.9%	90.1%	97.0%	97.0%	95.2%

Electra Battery Materials Corporation 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	Sep '23
Assets
Cash & short-term investments	C$35.9M	C$40.2M	C$39.0M	C$3.0M	C$2.9M	C$3.2M	C$3.7M	C$3.4M	C$5.1M	C$6.4M	C$8.2M	C$15.7M
Cash & equivalents	C$35.9M	C$40.2M	C$39.0M	C$3.0M	C$2.9M	C$3.2M	C$3.7M	C$3.3M	C$4.8M	C$5.6M	C$7.6M	C$15.1M
Short-term investments	—	—	C$0	C$0	C$0	C$4,000	C$12,000	C$113,000	C$327,000	C$761,000	C$595,000	C$625,000
Receivables	C$860,000	C$790,000	C$666,000	C$412,000	C$453,000	C$830,000	C$0	C$294,000	C$356,000	C$586,000	C$0	C$993,000
Inventory	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	−C$993,000
Other current assets	C$2.4M	C$1.9M	C$812,000	C$1.2M	C$894,000	C$1.2M	C$2.0M	C$958,000	C$1.5M	C$1.9M	C$2.4M	C$1.7M
Total current assets	C$39.1M	C$42.9M	C$40.5M	C$4.7M	C$4.3M	C$5.3M	C$5.7M	C$4.6M	C$7.0M	C$8.9M	C$10.6M	C$17.4M
Property, plant & equipment (net)	C$63.9M	C$148.7M	C$143.9M	C$142.2M	C$140.1M	C$144.9M	C$144.5M	C$138.9M	C$51.4M	C$51.5M	C$136.9M	C$192.9M
Goodwill & intangible assets	C$92.0M	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	C$0
Other non-current assets	C$1.2M	C$1.2M	C$1.2M	C$1.2M	C$1.2M	C$1.2M	C$1.2M	C$1.2M	C$89.8M	C$88.9M	C$1.2M	C$0
Total assets	C$196.3M	C$192.8M	C$185.6M	C$148.1M	C$145.6M	C$151.4M	C$151.4M	C$144.7M	C$148.2M	C$149.3M	C$148.7M	C$210.3M
Liabilities
Accounts payable	C$7.4M	C$5.6M	C$5.8M	C$6.7M	C$4.9M	C$7.0M	C$3.6M	C$5.5M	C$4.8M	C$7.7M	C$8.8M	C$9.6M
Short-term debt	C$33.2M	C$59,000	C$55,000	C$68.7M	C$64.6M	C$68.1M	—	C$46.3M	C$48.4M	C$47.4M	—	C$55.3M
Deferred revenue	C$3.9M	C$3.1M	C$642,000	—	—	—	—	—	−C$6.4M	−C$7.7M	—	C$4.0M
Total current liabilities	C$44.5M	C$57.2M	C$88.2M	C$88.1M	C$79.6M	C$82.0M	C$72.0M	C$64.0M	C$64.6M	C$63.5M	C$56.1M	C$72.9M
Long-term debt	C$46.9M	C$44.6M	C$43.4M	C$5.0M	C$6.0M	C$8.0M	C$7.8M	C$7.7M	C$7.1M	C$5.4M	C$4.3M	C$3.5M
Lease obligations	C$54,000	C$68,000	C$82,000	C$95,000	C$108,000	C$120,000	C$133,000	C$143,000	C$155,000	C$165,000	C$175,000	C$182,000
Other long-term liabilities	C$3.1M	C$7.8M	C$7.8M	C$6.9M	C$8.9M	C$7.6M	C$7.3M	C$7.5M	C$4.1M	C$6.0M	C$5.0M	C$2.8M
Total liabilities	C$99.0M	C$109.6M	C$139.3M	C$100.0M	C$94.5M	C$97.6M	C$87.1M	C$79.2M	C$78.1M	C$74.9M	C$65.4M	C$79.2M
Shareholders' equity
Common stock & paid-in capital	C$429.1M	C$426.3M	C$420.0M	C$311.2M	C$311.2M	C$307.8M	—	C$306.4M	C$306.4M	C$306.4M	—	C$303.7M
Retained earnings (deficit)	−C$371.2M	−C$380.2M	−C$408.4M	−C$294.3M	−C$288.3M	−C$287.6M	−C$274.9M	−C$266.2M	−C$263.4M	−C$257.6M	−C$245.4M	−C$200.0M
Accumulated other comprehensive income	C$4.8M	C$37.1M	C$34.6M	C$31.1M	C$28.1M	C$33.6M	—	C$25.3M	C$27.1M	C$25.7M	—	C$27.5M
Total shareholders' equity	C$97.3M	C$83.2M	C$46.2M	C$48.0M	C$51.1M	C$53.8M	C$64.3M	C$65.5M	C$70.0M	C$74.5M	C$83.3M	C$131.1M
Key figures
Total debt	C$74.5M	C$44.7M	C$43.4M	C$73.8M	C$70.7M	C$76.1M	C$7.8M	C$54.1M	C$56.6M	C$53.0M	C$4.3M	C$58.9M
Net cash (debt)	−C$38.6M	−C$4.5M	−C$4.4M	−C$70.7M	−C$67.7M	−C$72.9M	−C$4.1M	−C$50.7M	−C$51.4M	−C$46.5M	C$3.9M	−C$43.3M
Working capital	−C$5.4M	−C$14.3M	−C$47.7M	−C$83.4M	−C$75.3M	−C$76.7M	−C$66.3M	−C$59.4M	−C$57.6M	−C$54.6M	−C$45.5M	−C$55.6M
Tangible book value	C$5.3M	C$83.2M	C$46.2M	C$48.0M	C$51.1M	C$53.8M	C$64.3M	C$65.5M	C$70.0M	C$74.5M	C$83.3M	C$131.1M
Shares outstanding	132.0M	128.9M	77.6M	17.8M	17.8M	14.8M	14.8M	14.3M	14.3M	14.0M	14.0M	11.7M
Current ratio	0.88	0.75	0.46	0.05	0.05	0.06	0.08	0.07	0.11	0.14	0.19	0.24
Quick ratio	0.83	0.72	0.45	0.04	0.04	0.05	0.05	0.06	0.08	0.11	0.15	0.23
Debt / equity	0.77	0.54	0.94	1.54	1.38	1.42	0.12	0.83	0.81	0.71	0.05	0.45
Equity / assets	49.6%	43.2%	24.9%	32.4%	35.1%	35.5%	42.5%	45.3%	47.3%	49.9%	56.0%	62.4%

Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported (latest annual report filed March 30, 2026); data from EODHD.

ELBM financial position

At the end of fiscal 2025 (December 31, 2025), Electra Battery Materials had total assets of C$185.6 million (up 22.5% from a year earlier), total liabilities of C$139.3 million and shareholders' equity of C$46.2 million. It held C$39.0 million in cash and short-term investments against C$43.4 million of debt, net debt of C$4.4 million. Its current ratio was 0.46. In the latest quarter (ended June 30, 2026) total assets were C$196.3 million and equity C$97.3 million.

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

ELBM balance sheet FAQ

What are Electra Battery Materials's total assets?

Electra Battery Materials reported total assets of C$185.6 million at the end of fiscal 2025 (December 31, 2025), compared with C$151.4 million a year earlier.

How much debt does Electra Battery Materials have?

Electra Battery Materials had C$43.4 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.94.

How much cash does Electra Battery Materials have?

Electra Battery Materials held C$39.0 million in cash and short-term investments at the end of fiscal 2025; with C$43.4 million of debt that is net debt of C$4.4 million.

What is Electra Battery Materials's book value?

Electra Battery Materials's shareholders' equity (book value) was C$46.2 million at the end of fiscal 2025.

What is Electra Battery Materials's current ratio?

Electra Battery Materials had current assets of C$40.5 million and current liabilities of C$88.2 million, a current ratio of 0.46 (current liabilities exceed current assets).