New Found Gold Corp. (NFGC) Balance Sheet

NYSE American: NFGCAssets, liabilities, debt and equity over 8 years.

NFGC balance sheet, 2025

December 31, 2025 · Canadian dollars

C$535.7M assets = C$116.9M liabilities + C$418.8M equity

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

NFGC financial health

Current ratio3.89

Comfortable · current assets cover current liabilities 3.89×

Debt / equity0.00

Low leverage · C$0.00 of debt for each $1 of equity

Equity / assets78.2%

Equity-funded · of assets funded by shareholders

Cash / debt5,934.6%

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

Goodwill & intangibles22.6%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

NFGC balance sheet trends, 2018–2025

New Found Gold Corp. balance sheet trends
Metric	Then	Latest	Change
Total assets	C$1.8M2018	C$535.7M2025	+125.9%/yr
Total liabilities	C$828,3062018	C$116.9M2025	+102.8%/yr
Shareholders’ equity	C$955,1912018	C$418.8M2025	+138.5%/yr
Cash & short-term investments	C$721,2812018	C$67.7M2025	+91.3%/yr
Total debt	C$53,2012020	C$1.1M2025	+84.6%/yr
Net cash (debt)	C$68.8M2020	C$66.5M2025	−C$2.2M
Working capital	C$235,8692018	C$62.5M2025	+C$62.3M
Current ratio	1.282018	3.892025	+2.60
Debt / equity	0.002020	0.002025	0.00
Shares outstanding	44.6M2018	234.6M2025	+26.8%/yr

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

NFGC assets

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

NFGC liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

NFGC debt vs cash

Total debtCash & ST investmentsNet cash (debt)

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

NFGC balance sheet in Canadian dollars

New Found Gold Corp. annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018
Assets
Cash & short-term investments	C$67.7M	C$23.1M	C$57.5M	C$89.6M	C$129.1M	C$68.8M	C$7.5M	C$721,281
Cash & equivalents	C$58.8M	C$22.3M	C$53.9M	C$82.2M	C$100.5M	C$47.7M	C$7.3M	C$323,179
Short-term investments	C$8.9M	C$779,019	C$3.6M	C$7.5M	C$28.6M	C$21.1M	C$114,937	C$398,102
Receivables	C$4.3M	C$5.0M	C$3.4M	C$3.1M	C$1.8M	C$1.0M	C$337,160	C$274,264
Inventory	C$8.8M	C$0	−C$188,500	C$1.5M	C$2.2M	C$1.3M	C$0	C$0
Other current assets	C$3.4M	C$1.6M	C$1.7M	C$76,303	C$3.5M	C$54,034	C$436,436	C$68,630
Total current assets	C$84.2M	C$29.8M	C$62.4M	C$94.3M	C$136.5M	C$71.2M	C$8.2M	C$1.1M
Property, plant & equipment (net)	C$250.3M	C$42.6M	C$16.9M	C$16.4M	C$11.5M	C$2.4M	C$1.1M	C$41,641
Goodwill & intangible assets	C$121.0M	C$0	C$0	C$0	C$0	C$0	C$0	C$0
Long-term investments	C$0	C$1.5M	C$2.9M	C$0	C$0	C$0	C$0	C$0
Other non-current assets	C$80.2M	C$179,703	C$2.5M	C$0	C$0	C$0	C$0	C$677,681
Total assets	C$535.7M	C$74.0M	C$84.6M	C$110.7M	C$148.1M	C$73.5M	C$9.4M	C$1.8M
Liabilities
Accounts payable	C$8.7M	C$4.8M	C$5.2M	C$5,313	C$2,542	C$396	C$371	C$478,856
Short-term debt	C$297,531	C$53,783	C$88,958	C$81,388	C$54,250	C$53,201	—	—
Deferred revenue	—	—	−C$5,188	−C$5,313	−C$2,542	−C$396	—	—
Total current liabilities	C$21.7M	C$7.4M	C$19.0M	C$27.1M	C$12.8M	C$635,083	C$392,849	C$828,306
Long-term debt	C$503,417	C$0	C$0	C$0	C$0	C$0	C$0	C$0
Lease obligations	C$537,652	C$123,103	C$157,797	C$150,227	C$100,850	C$53,201	C$0	—
Other long-term liabilities	C$94.8M	C$69,320	C$68,839	C$68,839	C$12.6M	C$53,201	C$0	C$0
Total liabilities	C$116.9M	C$7.4M	C$19.1M	C$27.2M	C$25.4M	C$635,083	C$392,849	C$828,306
Shareholders' equity
Common stock & paid-in capital	C$702.7M	C$341.3M	C$290.2M	C$229.6M	C$181.8M	C$87.7M	C$10.7M	C$2.8M
Retained earnings (deficit)	−C$357.0M	−C$309.8M	−C$259.5M	−C$179.6M	−C$89.6M	−C$39.0M	−C$6.4M	−C$2.4M
Accumulated other comprehensive income	C$73.1M	C$35.0M	C$34.8M	C$33.4M	C$30.5M	C$24.2M	C$4.7M	C$530,601
Total shareholders' equity	C$418.8M	C$66.6M	C$65.5M	C$83.5M	C$122.7M	C$72.9M	C$9.0M	C$955,191
Key figures
Total debt	C$1.1M	C$123,103	C$157,797	C$150,227	C$100,850	C$53,201	—	—
Net cash (debt)	C$66.5M	C$23.0M	C$57.3M	C$89.5M	C$129.0M	C$68.8M	—	—
Working capital	C$62.5M	C$22.4M	C$43.4M	C$67.2M	C$123.8M	C$70.5M	C$7.8M	C$235,869
Tangible book value	C$297.8M	C$66.6M	C$65.5M	C$83.5M	C$122.7M	C$72.9M	C$9.0M	C$955,191
Shares outstanding	234.6M	194.0M	178.4M	166.9M	154.9M	112.7M	44.6M	44.6M
Current ratio	3.89	4.03	3.28	3.48	10.70	112.05	20.94	1.28
Quick ratio	3.33	3.81	3.20	3.42	10.26	109.98	19.83	1.20
Debt / equity	0.00	0.00	0.00	0.00	0.00	0.00	—	—
Equity / assets	78.2%	89.9%	77.4%	75.4%	82.8%	99.1%	95.8%	53.6%

New Found Gold Corp. 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$203.2M	C$43.5M	C$67.7M	C$71.7M	C$66.7M	C$12.9M	C$23.1M	C$40.6M	C$54.7M	C$53.3M	C$57.5M	C$29.5M
Cash & equivalents	C$193.8M	C$38.0M	C$58.8M	C$71.1M	C$66.4M	C$12.4M	C$22.3M	C$39.1M	C$52.2M	C$50.3M	C$53.9M	C$26.0M
Short-term investments	C$9.3M	C$5.5M	C$8.9M	C$540,096	C$327,264	C$575,283	C$779,019	C$1.5M	C$2.5M	C$3.1M	C$3.6M	C$3.5M
Receivables	C$9.8M	C$5.4M	C$4.3M	C$1.8M	C$1.1M	C$3.9M	C$5.0M	C$1.8M	C$1.6M	C$2.2M	C$3.4M	C$3.7M
Inventory	C$15.2M	C$9.9M	C$8.8M	C$0	C$0	C$0	C$0	C$0	−C$157,638	C$0	C$0	C$119,400
Other current assets	C$1.9M	C$2.5M	C$3.4M	C$1.5M	C$1.5M	C$1.0M	C$1.6M	C$4.1M	C$1.5M	C$1.5M	C$1.5M	C$1.9M
Total current assets	C$230.1M	C$61.3M	C$84.2M	C$74.9M	C$69.3M	C$17.8M	C$29.8M	C$46.6M	C$57.6M	C$57.0M	C$62.4M	C$35.2M
Property, plant & equipment (net)	C$270.1M	C$255.8M	C$250.3M	C$42.5M	C$42.4M	C$42.4M	C$42.6M	C$41.0M	C$7.7M	C$16.9M	C$7.8M	C$16.5M
Goodwill & intangible assets	C$202.3M	C$124.9M	C$121.0M	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$2.3M	C$1.5M	C$1.5M	C$1.5M	C$1.8M	C$2.1M	C$2.5M	C$2.9M	C$4.2M
Other non-current assets	C$3.2M	C$80.7M	C$80.2M	C$256,534	C$9,300	C$0	C$179,703	C$285,660	C$12.1M	C$2.7M	C$11.5M	C$2.5M
Total assets	C$705.7M	C$522.6M	C$535.7M	C$119.9M	C$113.1M	C$61.7M	C$74.0M	C$89.7M	C$79.5M	C$79.0M	C$84.6M	C$58.4M
Liabilities
Accounts payable	C$14.3M	C$6.1M	C$8.7M	C$6.5M	C$3.0M	C$1.5M	C$4.8M	C$5.3M	C$3.4M	C$5.5M	C$5,188	C$8,455
Short-term debt	C$7.4M	C$325,629	C$297,531	C$450	C$10,028	C$31,998	C$53,783	C$58,098	C$31,807	C$68,628	C$88,958	C$77,345
Deferred revenue	C$5.1M	C$1.8M	—	—	—	—	—	—	—	−C$5.5M	−C$5,188	−C$8,455
Total current liabilities	C$42.9M	C$21.2M	C$21.7M	C$18.5M	C$20.9M	C$4.0M	C$7.4M	C$10.7M	C$11.4M	C$14.5M	C$19.0M	C$10.4M
Long-term debt	C$59.8M	C$1.0M	C$503,417	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0
Lease obligations	C$881,951	C$532,277	C$537,652	C$69,191	C$79,622	C$101,452	C$123,103	C$127,289	C$100,875	C$137,579	C$157,797	C$146,077
Other long-term liabilities	C$94.9M	C$93.8M	C$94.8M	C$68,741	C$69,594	C$69,454	C$69,320	C$69,191	C$69,068	C$68,951	C$68,839	C$68,732
Total liabilities	C$197.7M	C$116.0M	C$116.9M	C$18.6M	C$20.9M	C$4.0M	C$7.4M	C$10.8M	C$11.4M	C$14.6M	C$19.1M	C$10.5M
Shareholders' equity
Common stock & paid-in capital	C$822.5M	C$714.4M	C$702.7M	C$407.8M	C$385.4M	C$341.7M	C$341.3M	C$339.8M	C$317.6M	C$301.8M	C$290.2M	C$252.3M
Retained earnings (deficit)	−C$386.1M	−C$376.9M	−C$357.0M	−C$342.2M	−C$329.3M	−C$318.7M	−C$309.8M	−C$296.4M	−C$284.8M	−C$272.7M	−C$259.5M	−C$239.0M
Accumulated other comprehensive income	C$71.6M	C$69.1M	C$73.1M	C$35.7M	C$36.1M	C$34.7M	C$35.0M	C$35.5M	C$35.3M	C$35.3M	C$34.8M	C$34.5M
Total shareholders' equity	C$508.0M	C$406.6M	C$418.8M	C$101.3M	C$92.2M	C$57.7M	C$66.6M	C$78.9M	C$68.1M	C$64.4M	C$65.5M	C$47.9M
Key figures
Total debt	C$68.0M	C$1.7M	C$1.1M	C$69,191	C$79,622	C$101,452	C$123,103	C$127,289	C$100,875	C$137,579	C$157,797	C$146,077
Net cash (debt)	C$135.2M	C$41.9M	C$66.5M	C$71.6M	C$66.7M	C$12.8M	C$23.0M	C$40.5M	C$54.6M	C$53.2M	C$57.3M	C$29.4M
Working capital	C$187.2M	C$40.1M	C$62.5M	C$56.3M	C$48.5M	C$13.9M	C$22.4M	C$35.9M	C$46.2M	C$42.5M	C$43.4M	C$24.8M
Tangible book value	C$305.7M	C$281.7M	C$297.8M	C$101.3M	C$92.2M	C$57.7M	C$66.6M	C$78.9M	C$68.1M	C$64.4M	C$65.5M	C$47.9M
Shares outstanding	321.0M	236.7M	302.5M	235.0M	208.4M	200.5M	200.5M	198.0M	191.4M	187.5M	186.9M	178.2M
Current ratio	5.36	2.89	3.89	4.04	3.32	4.49	4.03	4.36	5.07	3.92	3.28	3.39
Quick ratio	4.96	2.31	3.33	3.96	3.25	4.24	3.81	3.97	4.95	3.82	3.20	3.20
Debt / equity	0.13	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Equity / assets	72.0%	77.8%	78.2%	84.5%	81.5%	93.5%	89.9%	88.0%	85.6%	81.5%	77.4%	82.1%

Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported (latest annual report filed March 25, 2026); data from EODHD.

NFGC financial position

At the end of fiscal 2025 (December 31, 2025), New Found Gold had total assets of C$535.7 million (up 623.7% from a year earlier), total liabilities of C$116.9 million and shareholders' equity of C$418.8 million. It held C$67.7 million in cash and short-term investments against C$1.1 million of debt, a net cash position of C$66.5 million. Its current ratio was 3.89. In the latest quarter (ended June 30, 2026) total assets were C$705.7 million and equity C$508.0 million.

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

NFGC balance sheet FAQ

What are New Found Gold's total assets?

New Found Gold reported total assets of C$535.7 million at the end of fiscal 2025 (December 31, 2025), compared with C$74.0 million a year earlier.

How much debt does New Found Gold have?

New Found Gold had C$1.1 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.00.

How much cash does New Found Gold have?

New Found Gold held C$67.7 million in cash and short-term investments at the end of fiscal 2025; with C$1.1 million of debt that is net cash of C$66.5 million.

What is New Found Gold's book value?

New Found Gold's shareholders' equity (book value) was C$418.8 million at the end of fiscal 2025.

What is New Found Gold's current ratio?

New Found Gold had current assets of C$84.2 million and current liabilities of C$21.7 million, a current ratio of 3.89 (it can cover its short-term obligations).

How much goodwill does New Found Gold have?

New Found Gold carried C$121.0 million of goodwill and intangible assets, 22.6% of total assets, at the end of fiscal 2025.