First Phosphate Corp. (PHOS) Balance Sheet

NASDAQ: PHOSAssets, liabilities, debt and equity over 4 years.

PHOS balance sheet, FY2026

February 28, 2026 · Canadian dollars

C$28.7M assets = C$3.9M liabilities + C$24.8M equity

What it ownsC$28.7MCash & ST investments: C$20.2M (70.5%)Cash & ST investmentsC$20.2M · 70%Receivables: C$101,042 (0.4%)Other current: C$4.5M (15.6%)Other currentC$4.5M · 16%PP&E: C$3.7M (13.0%)PP&EC$3.7M · 13%LT investments: C$169,960 (0.6%)=How it is financedC$28.7MCurrent liabilities: C$3.1M (10.8%)Current liabilities C$3.1MLong-term debt: C$726,213 (2.5%)Other LT liabilities: C$60,451 (0.2%)Shareholders’ equity: C$24.8M (86.4%)Shareholders’ equityC$24.8M · 86%

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

PHOS financial health

Current ratio7.98
Comfortable · current assets cover current liabilities 7.98×
Debt / equity0.03
Low leverage · C$0.03 of debt for each $1 of equity
Equity / assets86.4%
Equity-funded · of assets funded by shareholders
Cash / debt2,780.2%
Cash covers debt · cash & short-term investments vs total debt
Goodwill & intangibles0.0%
Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal FY2026.

PHOS balance sheet trends, FY2023–FY2026

MetricTrendThenLatestChange
Total assetsC$5.9MFY2023C$28.7MFY2026+69.0%/yr
Total liabilitiesC$510,748FY2023C$3.9MFY2026+96.8%/yr
Shareholders’ equityC$5.4MFY2023C$24.8MFY2026+65.9%/yr
Cash & short-term investmentsC$1.2MFY2023C$20.2MFY2026+157.7%/yr
Working capitalC$1.7MFY2023C$21.7MFY2026+C$20.0M
Current ratio4.32FY20237.98FY2026+3.66
Shares outstanding48.3MFY2023177.2MFY2026+54.2%/yr

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

PHOS assets

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

PHOS liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

PHOS debt vs cash

Total debtCash & ST investmentsNet cash (debt)

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

PHOS balance sheet in Canadian dollars

FY2026FY2025FY2024FY2023
Assets
Cash & short-term investmentsC$20.2MC$1.9MC$7.5MC$1.2M
Cash & equivalentsC$20.2MC$1.9MC$7.5MC$1.2M
ReceivablesC$101,042C$0C$0C$0
InventoryC$0C$0C$0C$0
Other current assetsC$4.5MC$1.8MC$1.5MC$1.0M
Total current assetsC$24.8MC$3.7MC$9.0MC$2.2M
Property, plant & equipment (net)C$3.7MC$3.6MC$3.6MC$3.6M
Goodwill & intangible assetsC$0C$0C$0C$0
Long-term investmentsC$169,960C$168,174C$132,988C$83,060
Other non-current assetsC$0C$0C$332,578C$0
Total assetsC$28.7MC$7.5MC$13.0MC$5.9M
Liabilities
Accounts payable——C$2.5MC$419,415
Total current liabilitiesC$3.1MC$1.1MC$3.7MC$510,748
Long-term debtC$726,213C$0C$0C$0
Lease obligationsC$99,329C$0——
Other long-term liabilitiesC$60,451C$0C$0C$0
Total liabilitiesC$3.9MC$1.1MC$3.7MC$510,748
Shareholders' equity
Retained earnings (deficit)−C$53.0M−C$29.6M−C$21.9M−C$13.7M
Total shareholders' equityC$24.8MC$6.4MC$9.3MC$5.4M
Key figures
Total debtC$726,213———
Net cash (debt)C$19.5M———
Working capitalC$21.7MC$2.6MC$5.3MC$1.7M
Tangible book valueC$24.8MC$6.4MC$9.3MC$5.4M
Shares outstanding177.2M89.9M73.8M48.3M
Current ratio7.983.482.444.32
Quick ratio6.531.772.042.31
Debt / equity0.03———
Equity / assets86.4%85.8%71.7%91.4%

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

PHOS financial position

At the end of fiscal 2026 (February 28, 2026), First Phosphate Corp. had total assets of C$28.7 million (up 284.5% from a year earlier), total liabilities of C$3.9 million and shareholders' equity of C$24.8 million. It held C$20.2 million in cash and short-term investments against C$0.7 million of debt, a net cash position of C$19.5 million. Its current ratio was 7.98. In the latest quarter (ended May 31, 2026) total assets were C$25.9 million and equity C$21.5 million.

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

PHOS balance sheet FAQ

What are First Phosphate Corp.'s total assets?

First Phosphate Corp. reported total assets of C$28.7 million at the end of fiscal 2026 (February 28, 2026), compared with C$7.5 million a year earlier.

How much debt does First Phosphate Corp. have?

First Phosphate Corp. had C$0.7 million of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.03.

How much cash does First Phosphate Corp. have?

First Phosphate Corp. held C$20.2 million in cash and short-term investments at the end of fiscal 2026; with C$0.7 million of debt that is net cash of C$19.5 million.

What is First Phosphate Corp.'s book value?

First Phosphate Corp.'s shareholders' equity (book value) was C$24.8 million at the end of fiscal 2026.

What is First Phosphate Corp.'s current ratio?

First Phosphate Corp. had current assets of C$24.8 million and current liabilities of C$3.1 million, a current ratio of 7.98 (it can cover its short-term obligations).

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