Namib Minerals (NAMM) Balance Sheet
NAMM balance sheet, 2025
December 31, 2025 · U.S. dollars$62.8M assets = $102.1M liabilities + −$39.3M equity
Liabilities exceed assets: shareholders’ equity is negative (−$39.3M).
Both columns are drawn to the same scale: what NAMM owns equals what it owes plus shareholders’ equity. Hover a block for its value.
NAMM financial health
Descriptive bands, not a rating. Fiscal 2025.
NAMM balance sheet trends, 2021–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $343.7M2021 | $62.8M2025 | −34.6%/yr | |
| Total liabilities | $28.0M2021 | $102.1M2025 | +38.2%/yr | |
| Shareholders’ equity | $315.8M2021 | −$39.3M2025 | — | |
| Cash & short-term investments | $2.0M2021 | $1.9M2025 | −1.0%/yr | |
| Total debt | $1.2M2022 | $5.2M2025 | +61.8%/yr | |
| Net cash (debt) | −$1.2M2022 | −$3.3M2025 | −$2.1M | |
| Working capital | $2.4M2021 | −$37.4M2025 | −$39.8M | |
| Book value per share | $6.952021 | −$0.712025 | — | |
| Current ratio | 6.662021 | 0.302025 | −6.36 | |
| Shares outstanding | 45.5M2021 | 55.0M2025 | +4.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
NAMM assets
NAMM liabilities and equity
NAMM debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
NAMM balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Assets | |||||
| Cash & short-term investments | $1.9M | $698,000 | $278,000 | $59,000 | $2.0M |
| Cash & equivalents | $1.9M | $698,000 | $278,000 | $59,000 | $2.0M |
| Receivables | $9.1M | $4.5M | $1.0M | $7.1M | $0 |
| Inventory | $3.9M | $3.2M | $2.3M | $1.5M | $0 |
| Other current assets | $1.3M | $548,000 | $733,000 | $512,000 | $824,000 |
| Total current assets | $16.2M | $9.0M | $4.3M | $9.2M | $2.8M |
| Property, plant & equipment (net) | $46.5M | $42.0M | $35.8M | $31.9M | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $98,000 | $135,000 | $850,000 | $172,000 | $340.9M |
| Total assets | $62.8M | $51.0M | $41.0M | $41.4M | $343.7M |
| Liabilities | |||||
| Accounts payable | $17.8M | $8.4M | $9.9M | $10.9M | — |
| Short-term debt | $3.2M | $1.5M | $813,000 | $494,000 | — |
| Total current liabilities | $53.6M | $46.0M | $41.3M | $33.2M | $419,000 |
| Long-term debt | $2.0M | $1.4M | $0 | $730,000 | $0 |
| Other long-term liabilities | $46.5M | $34.6M | $28.0M | $26.1M | $27.5M |
| Total liabilities | $102.1M | $82.0M | $69.3M | $60.1M | $28.0M |
| Shareholders' equity | |||||
| Common stock & paid-in capital | $5,000 | $1,000 | $1,000 | $1,000 | $340.9M |
| Retained earnings (deficit) | $70.5M | −$30.9M | −$28.3M | −$18.7M | −$25.2M |
| Total shareholders' equity | −$39.3M | −$30.9M | −$28.3M | −$18.7M | $315.8M |
| Key figures | |||||
| Total debt | $5.2M | $2.9M | $813,000 | $1.2M | — |
| Net cash (debt) | −$3.3M | −$2.2M | −$535,000 | −$1.2M | — |
| Working capital | −$37.4M | −$37.0M | −$36.9M | −$24.0M | $2.4M |
| Tangible book value | −$39.3M | −$30.9M | −$28.3M | −$18.7M | $315.8M |
| Book value per share | −$0.71 | −$0.57 | −$0.58 | −$0.34 | $6.95 |
| Shares outstanding | 55.0M | 54.4M | 48.9M | 54.4M | 45.5M |
| Current ratio | 0.30 | 0.19 | 0.11 | 0.28 | 6.66 |
| Quick ratio | 0.20 | 0.11 | 0.03 | 0.22 | 4.69 |
| Equity / assets | −62.5% | −60.6% | −69.2% | −45.3% | 91.9% |
| 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 | $1.8M | $1.8M | $1.9M | $1.9M | $1.3M | $891,000 | $698,000 | $889,000 | $1.3M | $1.3M | $278,000 |
| Cash & equivalents | $1.8M | $1.8M | $1.9M | $1.9M | $1.3M | $891,000 | $698,000 | $889,000 | $1.3M | $1.3M | $278,000 |
| Receivables | $2.5M | $2.5M | $3.1M | $3.0M | $929,000 | $929,000 | $4.5M | $0 | $4.3M | $1.4M | $1.0M |
| Inventory | $6.5M | $6.5M | $3.9M | $4.5M | $3.6M | $3.6M | $3.2M | $0 | $3.2M | $3.2M | $2.3M |
| Other current assets | $9.6M | $9.6M | $7.2M | $6.8M | $7.3M | $0 | $548,000 | $15,000 | $1.2M | $4.1M | $733,000 |
| Total current assets | $20.4M | $20.4M | $16.2M | $16.2M | $13.1M | $891,000 | $9.0M | $904,000 | $10.0M | $10.0M | $4.3M |
| Property, plant & equipment (net) | $49.1M | $49.1M | $46.5M | $42.0M | $39.8M | $39.8M | $42.0M | $0 | $36.1M | $36.1M | $35.8M |
| Goodwill & intangible assets | $437,000 | $437,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $6.5M | $6.5M | $98,000 | $4.6M | $5.3M | $0 | $135,000 | $35.5M | $3.1M | $3.1M | $850,000 |
| Total assets | $76.3M | $76.3M | $62.8M | $62.8M | $58.2M | $36.6M | $51.0M | $36.4M | $49.2M | $49.2M | $41.0M |
| Liabilities | |||||||||||
| Accounts payable | $20.2M | $20.2M | $17.8M | $17.8M | $10.0M | $10.0M | $8.4M | $288,000 | $8.6M | $8.6M | $9.9M |
| Short-term debt | $5.8M | $5.8M | — | $3.2M | $2.3M | $11.9M | $1.5M | $9.9M | $1.1M | $1.1M | $813,000 |
| Total current liabilities | $63.3M | $63.3M | $53.6M | $53.6M | $96.5M | $24.9M | $46.0M | $21.6M | $46.1M | $46.1M | $41.3M |
| Long-term debt | $0 | $0 | $2.0M | $0 | $2.2M | $0 | $1.4M | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $53.8M | $53.8M | $46.5M | $48.5M | $112.6M | $2.8M | $34.6M | $37.7M | $28.5M | $28.5M | $28.0M |
| Total liabilities | $117.1M | $117.1M | $102.1M | $102.1M | $211.4M | $27.7M | $82.0M | $59.3M | $74.6M | $74.6M | $69.3M |
| Shareholders' equity | |||||||||||
| Common stock & paid-in capital | $6,000 | $6,000 | — | $5,000 | $5,000 | $35.6M | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Retained earnings (deficit) | $65.5M | $65.5M | $70.5M | $70.5M | −$42.8M | −$36.7M | −$30.9M | −$32.9M | −$25.3M | −$25.3M | −$28.3M |
| Accumulated other comprehensive income | −$106.3M | −$106.3M | — | −$109.7M | −$110.3M | — | — | — | — | — | — |
| Total shareholders' equity | −$40.8M | −$40.8M | −$39.3M | −$39.3M | −$153.2M | $9.0M | −$30.9M | −$22.9M | −$25.3M | −$25.3M | −$28.3M |
| Key figures | |||||||||||
| Total debt | $7.9M | $7.9M | $2.0M | $5.2M | $4.6M | $11.9M | $2.9M | $9.9M | $1.1M | $1.1M | $813,000 |
| Net cash (debt) | −$6.2M | −$6.2M | −$119,000 | −$3.3M | −$3.2M | −$11.0M | −$2.2M | −$9.0M | $216,000 | $216,000 | −$535,000 |
| Working capital | −$42.9M | −$42.9M | −$37.4M | −$37.4M | −$83.4M | −$24.0M | −$37.0M | −$20.7M | −$36.1M | −$36.1M | −$36.9M |
| Tangible book value | −$41.2M | −$41.2M | −$39.3M | −$39.3M | −$153.2M | $9.0M | −$30.9M | −$22.9M | −$25.3M | −$25.3M | −$28.3M |
| Book value per share | −$0.74 | −$0.74 | −$0.73 | −$0.65 | −$3.09 | $0.61 | −$2.72 | −$2.02 | −$1.52 | −$1.34 | −$0.76 |
| Shares outstanding | 54.9M | 54.9M | 54.1M | 60.5M | 49.6M | 14.6M | 11.4M | 11.4M | 16.6M | 18.9M | 37.2M |
| Current ratio | 0.32 | 0.32 | 0.30 | 0.30 | 0.14 | 0.04 | 0.19 | 0.04 | 0.22 | 0.22 | 0.11 |
| Quick ratio | 0.07 | 0.07 | 0.09 | 0.09 | 0.02 | 0.07 | 0.11 | 0.04 | 0.12 | 0.06 | 0.03 |
| Debt / equity | — | — | — | — | — | 1.32 | — | — | — | — | — |
| Equity / assets | −53.4% | −53.4% | −62.5% | −62.5% | −263.2% | 24.5% | −60.6% | −63.0% | −51.5% | −51.5% | −69.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed April 2, 2026); data from EODHD.
NAMM financial position
At the end of fiscal 2025 (December 31, 2025), Namib Minerals had total assets of $62.8 million (up 23.0% from a year earlier), total liabilities of $102.1 million and shareholders' equity of -$39.3 million. It held $1.9 million in cash and short-term investments against $5.2 million of debt, net debt of $3.3 million. Its current ratio was 0.30. In the latest quarter (ended June 30, 2026) total assets were $76.3 million and equity -$40.8 million.
Related: NAMM income statement, NAMM cash flow statement, NAMM key metrics. See the NAMM stock overview for the latest quote and news.
NAMM balance sheet FAQ
What are Namib Minerals's total assets?
Namib Minerals reported total assets of $62.8 million at the end of fiscal 2025 (December 31, 2025), compared with $51.0 million a year earlier.
How much debt does Namib Minerals have?
Namib Minerals had $5.2 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was —.
How much cash does Namib Minerals have?
Namib Minerals held $1.9 million in cash and short-term investments at the end of fiscal 2025; with $5.2 million of debt that is net debt of $3.3 million.
What is Namib Minerals's book value?
Namib Minerals's shareholders' equity (book value) was -$39.3 million at the end of fiscal 2025, or −$0.71 per share.
What is Namib Minerals's current ratio?
Namib Minerals had current assets of $16.2 million and current liabilities of $53.6 million, a current ratio of 0.30 (current liabilities exceed current assets).