Nicola Mining Inc. (NICM) Balance Sheet

NASDAQ: NICMAssets, liabilities, debt and equity over 5 years.

NICM balance sheet, 2025

December 31, 2025 · Canadian dollars

C$14.5M assets = C$17.9M liabilities + −C$3.3M equity

What it ownsC$14.5MCash & ST investments: C$6.0M (40.9%)Cash & ST investmentsC$6.0M · 41%Receivables: C$846,928 (5.8%)Other current: C$352,596 (2.4%)PP&E: C$6.0M (41.0%)PP&EC$6.0M · 41%Other non-current: C$1.4M (9.9%)Other non-current C$1.4M=How it is financedC$17.9MCurrent liabilities: C$4.0M (22.6%)Current liabilitiesC$4.0M · 23%Other LT liabilities: C$13.9M (77.4%)Other LT liabilitiesC$13.9M · 77%

Liabilities exceed assets: shareholders’ equity is negative (−C$3.3M).

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

NICM financial health

Current ratio1.77
Comfortable · current assets cover current liabilities 1.77×
Equity / assets−23.0%
Thin equity · of assets funded by shareholders
Cash / debt639.4%
Cash covers debt · cash & short-term investments vs total debt
Goodwill & intangibles0.0%
Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

NICM balance sheet trends, 2021–2025

MetricTrendThenLatestChange
Total assetsC$12.4M2021C$14.5M2025+4.2%/yr
Total liabilitiesC$11.5M2021C$17.9M2025+11.6%/yr
Shareholders’ equityC$841,4172021−C$3.3M2025—
Cash & short-term investmentsC$916,2862021C$6.0M2025+59.7%/yr
Total debtC$555,7152021C$931,0122025+13.8%/yr
Net cash (debt)C$360,5712021C$5.0M2025+C$4.7M
Working capital−C$5.3M2021C$3.1M2025+C$8.4M
Current ratio0.2520211.772025+1.52
Shares outstanding145.7M2021186.0M2025+6.3%/yr

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

NICM assets

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

NICM liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

NICM debt vs cash

Total debtCash & ST investmentsNet cash (debt)

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

NICM balance sheet in Canadian dollars

20252024202320222021
Assets
Cash & short-term investmentsC$6.0MC$2.5MC$4.8MC$895,774C$916,286
Cash & equivalentsC$1.7MC$1.5MC$4.8MC$895,774C$916,286
Short-term investmentsC$4.3MC$1.1MC$0C$0—
ReceivablesC$846,928C$354,054C$444,531C$1.2MC$734,870
InventoryC$0C$0C$0C$0C$0
Other current assetsC$352,596C$539,927C$245,218C$11,881C$93,923
Total current assetsC$7.2MC$3.4MC$5.4MC$2.1MC$1.7M
Property, plant & equipment (net)C$6.0MC$5.8MC$5.5MC$5.7MC$9.4M
Goodwill & intangible assetsC$0C$0C$0C$0C$0
Long-term investmentsC$0C$0C$0C$0C$0
Other non-current assetsC$1.4MC$1.4MC$1.3MC$1.2MC$1.2M
Total assetsC$14.5MC$10.7MC$12.2MC$9.0MC$12.4M
Liabilities
Short-term debtC$823,626————
Deferred revenueC$414,323————
Total current liabilitiesC$4.0MC$6.2MC$698,558C$1.2MC$7.0M
Long-term debtC$0C$0C$4.2MC$5.1MC$555,715
Lease obligationsC$212,094C$54,601C$16,353C$37,011C$55,118
Other long-term liabilitiesC$13.9MC$14.2MC$14.5MC$10.2MC$3.9M
Total liabilitiesC$17.9MC$20.5MC$19.4MC$16.5MC$11.5M
Shareholders' equity
Common stock & paid-in capitalC$98.3M————
Retained earnings (deficit)−C$114.5M−C$111.4M−C$106.2M−C$102.9M−C$93.3M
Total shareholders' equity−C$3.3M−C$9.8M−C$7.2M−C$7.5MC$841,417
Key figures
Total debtC$931,012—C$4.2MC$5.1MC$555,715
Net cash (debt)C$5.0M—C$519,270−C$4.2MC$360,571
Working capitalC$3.1M−C$2.8MC$4.7MC$866,967−C$5.3M
Tangible book value−C$3.3M−C$9.8M−C$7.2M−C$7.5MC$841,417
Shares outstanding186.0M169.9M161.2M149.0M145.7M
Current ratio1.770.557.801.700.25
Quick ratio1.680.467.441.690.24
Debt / equity————0.66
Equity / assets−23.0%−92.1%−59.0%−83.2%6.8%

Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported (latest annual report filed December 31, 2025); data from EODHD.

NICM financial position

At the end of fiscal 2025 (December 31, 2025), Nicola Mining Inc. had total assets of C$14.5 million (up 36.5% from a year earlier), total liabilities of C$17.9 million and shareholders' equity of -C$3.3 million. It held C$6.0 million in cash and short-term investments against C$0.9 million of debt, a net cash position of C$5.0 million. Its current ratio was 1.77. In the latest quarter (ended June 30, 2026) total assets were C$22.7 million and equity C$6.8 million.

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

NICM balance sheet FAQ

What are Nicola Mining Inc.'s total assets?

Nicola Mining Inc. reported total assets of C$14.5 million at the end of fiscal 2025 (December 31, 2025), compared with C$10.7 million a year earlier.

How much debt does Nicola Mining Inc. have?

Nicola Mining Inc. had C$0.9 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.

How much cash does Nicola Mining Inc. have?

Nicola Mining Inc. held C$6.0 million in cash and short-term investments at the end of fiscal 2025; with C$0.9 million of debt that is net cash of C$5.0 million.

What is Nicola Mining Inc.'s book value?

Nicola Mining Inc.'s shareholders' equity (book value) was -C$3.3 million at the end of fiscal 2025.

What is Nicola Mining Inc.'s current ratio?

Nicola Mining Inc. had current assets of C$7.2 million and current liabilities of C$4.0 million, a current ratio of 1.77 (it can cover its short-term obligations).

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