Triple Flag Precious Metals Corp. (TFPM) Balance Sheet
TFPM balance sheet, 2025
December 31, 2025 · U.S. dollars$2.11B assets = $68.1M liabilities + $2.04B equity
Both columns are drawn to the same scale: what TFPM owns equals what it owes plus shareholders’ equity. Hover a block for its value.
TFPM financial health
Descriptive bands, not a rating. Fiscal 2025.
TFPM balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $251.3M2016 | $2.11B2025 | +26.7%/yr | |
| Total liabilities | $254.1M2016 | $68.1M2025 | −13.6%/yr | |
| Shareholders’ equity | −$2.7M2016 | $2.04B2025 | — | |
| Cash & short-term investments | $574,7602016 | $122.0M2025 | +81.4%/yr | |
| Total debt | $253.2M2016 | $2.5M2025 | −40.0%/yr | |
| Net cash (debt) | −$252.6M2016 | $119.5M2025 | +$372.1M | |
| Working capital | −$253.4M2016 | $113.6M2025 | +$367.0M | |
| Book value per share | −$0.042016 | $10.002025 | — | |
| Current ratio | 0.002016 | 3.922025 | +3.92 | |
| Debt / equity | 0.272018 | 0.002025 | −0.27 | |
| Shares outstanding | 71.6M2016 | 204.1M2025 | +12.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
TFPM assets
TFPM liabilities and equity
TFPM debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
TFPM balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $122.0M | $39.3M | $23.6M | $81.0M | $54.3M | $48.2M | $31.9M | $25.0M | $15.0M | $574,760 |
| Cash & equivalents | $29.0M | $36.2M | $17.4M | $71.1M | $40.7M | $20.6M | $10.8M | $9.3M | $3.2M | $574,760 |
| Short-term investments | $93.0M | $3.0M | $6.2M | $9.9M | $13.7M | $27.6M | $21.1M | $15.7M | $11.9M | — |
| Receivables | $25.3M | $17.6M | $23.1M | $8.3M | $16.1M | $10.1M | $7.7M | $10.3M | $7.2M | $0 |
| Inventory | $4.7M | $3.8M | $1.4M | $0 | $1.4M | $9.7M | $2.1M | $4.4M | $925,559 | $0 |
| Other current assets | $543,011 | $14.9M | $8.9M | $1.3M | $637,000 | $0 | $2.9M | $1.3M | $394,771 | $113,583 |
| Total current assets | $152.5M | $75.6M | $57.0M | $90.6M | $72.4M | $58.6M | $44.6M | $41.0M | $23.5M | $688,343 |
| Property, plant & equipment (net) | $1.89B | $1.65B | $1.77B | $1.23B | $1.23B | $1.23B | $607.5M | $522.8M | $394.8M | $250.5M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $5,000 | $35,000 | $65,000 | $95,000 | $125,317 | $78,124 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $66.1M | $47.7M | $64.4M | $18.3M | $4.4M | $11.9M | $5.8M | $1.5M | $0 | $57,580 |
| Total assets | $2.11B | $1.77B | $1.89B | $1.34B | $1.30B | $1.30B | $658.0M | $565.5M | $418.5M | $251.3M |
| Liabilities | ||||||||||
| Accounts payable | $5.1M | $2.8M | $628,000 | $1.0M | $147,000 | $775,000 | $674,000 | $555,000 | — | — |
| Short-term debt | $378,310 | $318,000 | $390,000 | $277,000 | $270,000 | $252,000 | $225,000 | — | $445.5M | $253.2M |
| Deferred revenue | — | — | $1.3M | — | — | — | — | — | — | — |
| Total current liabilities | $38.9M | $27.1M | $17.3M | $12.6M | $4.5M | $4.1M | $3.8M | $5.8M | $450.2M | $254.1M |
| Long-term debt | $0 | $0 | $57.0M | $0 | $0 | $275.0M | $57.0M | $119.0M | $0 | $0 |
| Lease obligations | $1.5M | $1.7M | $2.1M | $1.9M | $1.1M | $1.4M | $1.6M | $0 | — | — |
| Other long-term liabilities | $29.3M | $7.1M | $9.4M | $6.0M | $4.3M | $2.9M | $3.5M | $1.1M | $0 | $0 |
| Total liabilities | $68.1M | $34.3M | $83.7M | $18.6M | $8.8M | $282.0M | $64.3M | $125.9M | $450.2M | $254.1M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.86B | $1.74B | $1.75B | $1.25B | $1.25B | $1.01B | $639.2M | $471.3M | $100 | $100 |
| Retained earnings (deficit) | $164.6M | −$23.8M | $46.8M | $63.7M | $40.3M | $10.0M | −$45.5M | −$31.8M | −$31.7M | −$2.7M |
| Accumulated other comprehensive income | $15.4M | $15.2M | $14.7M | $4.6M | $1.3M | −$243,000 | $0 | $0 | — | — |
| Total shareholders' equity | $2.04B | $1.74B | $1.81B | $1.32B | $1.29B | $1.02B | $593.6M | $439.6M | −$31.7M | −$2.7M |
| Key figures | ||||||||||
| Total debt | $2.5M | $1.7M | $59.1M | $1.9M | $1.1M | $276.4M | $58.6M | $119.0M | $445.5M | $253.2M |
| Net cash (debt) | $119.5M | $37.6M | −$35.5M | $79.1M | $53.2M | −$228.2M | −$26.7M | −$94.0M | −$430.4M | −$252.6M |
| Working capital | $113.6M | $48.5M | $39.7M | $78.0M | $68.0M | $54.5M | $40.8M | $35.2M | −$426.7M | −$253.4M |
| Tangible book value | $2.04B | $1.74B | $1.81B | $1.32B | $1.29B | $1.02B | $593.6M | $439.5M | −$31.9M | −$2.8M |
| Book value per share | $10.00 | $8.62 | $9.08 | $8.45 | $8.75 | $6.57 | $3.83 | $2.83 | −$0.44 | −$0.04 |
| Shares outstanding | 204.1M | 201.3M | 199.5M | 156.0M | 148.0M | 155.1M | 155.1M | 155.1M | 71.6M | 71.6M |
| Current ratio | 3.92 | 2.79 | 3.29 | 7.20 | 16.20 | 14.22 | 11.74 | 7.05 | 0.05 | 0.00 |
| Quick ratio | 3.79 | 2.10 | 2.70 | 7.10 | 15.75 | 14.16 | 10.42 | 6.07 | 0.05 | 0.00 |
| Debt / equity | 0.00 | 0.00 | 0.03 | 0.00 | 0.00 | 0.27 | 0.10 | 0.27 | — | — |
| Equity / assets | 96.8% | 98.1% | 95.6% | 98.6% | 99.3% | 78.3% | 90.2% | 77.7% | −7.6% | −1.1% |
| 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 | $15.2M | $210.4M | $122.0M | $24.4M | $81.8M | $22.4M | $39.3M | $23.6M | $21.1M | $36.5M | $23.6M | $28.1M |
| Cash & equivalents | $15.2M | $144.8M | $29.0M | $8.9M | $81.8M | $18.8M | $36.2M | $23.6M | $21.1M | $29.4M | $17.4M | $14.3M |
| Short-term investments | $75.7M | $65.6M | $93.0M | $15.5M | $19.5M | $3.7M | $3.0M | $3.0M | $15.8M | $7.2M | $6.2M | $13.8M |
| Receivables | $29.7M | $30.1M | $25.3M | $18.1M | $19.4M | $16.3M | $17.6M | $17.5M | $17.3M | $27.6M | $23.1M | $18.1M |
| Inventory | $0 | $2.2M | $4.7M | $0 | $1.9M | $5.5M | $3.8M | $2.7M | $2.1M | $141,000 | $1.4M | −$18.2M |
| Other current assets | $76.0M | $337,106 | $543,011 | $20.8M | $19.5M | $14.4M | $14.9M | $19.5M | $17.9M | $14.3M | $8.9M | $19.9M |
| Total current assets | $120.9M | $243.0M | $152.5M | $63.2M | $122.7M | $58.6M | $75.6M | $63.2M | $58.4M | $78.5M | $57.0M | $47.9M |
| Property, plant & equipment (net) | $0 | $1.91B | $1.89B | $1.94B | $1.68B | $1.69B | $1.65B | $1.66B | $1.63B | $1.76B | $1.77B | $1.78B |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $23.1M | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $33.1M |
| Other non-current assets | $2.45B | $71.6M | $66.1M | $47.4M | $46.0M | $46.9M | $47.7M | $46.7M | $48.7M | $67.3M | $41.2M | $39.4M |
| Total assets | $2.57B | $2.23B | $2.11B | $2.05B | $1.85B | $1.79B | $1.77B | $1.77B | $1.74B | $1.90B | $1.89B | $1.90B |
| Liabilities | ||||||||||||
| Accounts payable | $21.8M | $32.6M | $35.0M | $31.3M | $25.5M | $20.2M | $2.8M | $16.0M | $6.5M | $14.6M | $628,000 | $8.3M |
| Short-term debt | $396,523 | $384,259 | $378,310 | $368,000 | $361,000 | $331,000 | $318,000 | $809,359 | — | $389,000 | $390,000 | $372,207 |
| Deferred revenue | — | — | — | — | — | — | — | — | −$6.9M | −$6.9M | −$7.6M | — |
| Total current liabilities | $32.9M | $38.5M | $38.9M | $37.7M | $29.1M | $25.3M | $27.1M | $19.9M | $10.1M | $17.8M | $17.3M | $12.5M |
| Long-term debt | $235.0M | $0 | $0 | $13.0M | $0 | $0 | $0 | $35.0M | $20.0M | $60.0M | $57.0M | $65.0M |
| Lease obligations | — | $1.4M | $1.5M | $1.5M | — | $1.6M | $1.7M | — | — | $2.0M | $2.1M | $2.2M |
| Other long-term liabilities | $21.9M | $30.9M | $29.3M | $14.3M | $11.5M | $7.1M | $7.1M | $8.8M | $9.9M | $10.7M | $9.4M | $6.2M |
| Total liabilities | $289.8M | $69.4M | $68.1M | $65.1M | $40.6M | $32.4M | $34.3M | $63.7M | $40.0M | $88.6M | $83.7M | $83.7M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.86B | — | $1.86B | $1.87B | $1.74B | $1.74B | $1.74B | $1.75B | $1.75B | $1.75B | $1.75B | $1.75B |
| Retained earnings (deficit) | $404.1M | $270.3M | $164.6M | $100.7M | $51.3M | $6.9M | −$23.8M | −$51.4M | −$65.3M | $53.0M | $46.8M | $52.1M |
| Accumulated other comprehensive income | $15.4M | — | $15.4M | $15.4M | $16.8M | $15.4M | $15.2M | $15.0M | $15.8M | $15.4M | $11.8M | $12.4M |
| Total shareholders' equity | $2.28B | $2.16B | $2.04B | $1.98B | $1.81B | $1.76B | $1.74B | $1.71B | $1.70B | $1.82B | $1.81B | $1.81B |
| Key figures | ||||||||||||
| Total debt | $235.0M | $1.4M | $2.5M | $14.5M | $1.6M | $1.6M | $1.7M | $35.0M | $20.0M | $62.0M | $59.1M | $66.8M |
| Net cash (debt) | −$219.8M | $209.0M | $119.5M | $9.9M | $80.2M | $20.8M | $37.6M | −$11.4M | $1.1M | −$25.5M | −$35.5M | −$38.8M |
| Working capital | $88.0M | $204.5M | $113.6M | $25.5M | $93.6M | $33.4M | $48.5M | $43.4M | $48.3M | $60.7M | $39.7M | $35.5M |
| Tangible book value | $2.28B | $2.16B | $2.04B | $1.98B | $1.81B | $1.76B | $1.74B | $1.71B | $1.70B | $1.82B | $1.79B | $1.81B |
| Book value per share | $11.03 | $10.40 | $9.85 | $9.59 | $8.98 | $8.75 | $8.62 | $8.46 | $8.45 | $9.02 | $9.04 | $8.98 |
| Shares outstanding | 206.9M | 207.3M | 207.2M | 206.7M | 201.4M | 201.3M | 201.3M | 202.1M | 201.2M | 201.2M | 200.3M | 201.8M |
| Current ratio | 3.67 | 6.31 | 3.92 | 1.68 | 4.22 | 2.32 | 2.79 | 3.18 | 5.80 | 4.40 | 3.29 | 3.84 |
| Quick ratio | 1.36 | 6.25 | 3.79 | 1.13 | 3.48 | 1.54 | 2.10 | 2.07 | 3.81 | 3.60 | 2.70 | 3.70 |
| Debt / equity | 0.10 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.02 | 0.01 | 0.03 | 0.03 | 0.04 |
| Equity / assets | 88.7% | 96.9% | 96.8% | 96.8% | 97.8% | 98.2% | 98.1% | 96.4% | 97.7% | 95.3% | 95.6% | 95.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 27, 2026); data from EODHD.
TFPM financial position
At the end of fiscal 2025 (December 31, 2025), Triple Flag Precious Metals had total assets of $2.1 billion (up 19.2% from a year earlier), total liabilities of $68.1 million and shareholders' equity of $2.0 billion. It held $122.0 million in cash and short-term investments against $2.5 million of debt, a net cash position of $119.5 million. Its current ratio was 3.92. In the latest quarter (ended June 30, 2026) total assets were $2.6 billion and equity $2.3 billion.
Related: TFPM income statement, TFPM cash flow statement, TFPM key metrics. See the TFPM stock overview for the latest quote and news.
TFPM balance sheet FAQ
What are Triple Flag Precious Metals's total assets?
Triple Flag Precious Metals reported total assets of $2.1 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.8 billion a year earlier.
How much debt does Triple Flag Precious Metals have?
Triple Flag Precious Metals had $2.5 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 Triple Flag Precious Metals have?
Triple Flag Precious Metals held $122.0 million in cash and short-term investments at the end of fiscal 2025; with $2.5 million of debt that is net cash of $119.5 million.
What is Triple Flag Precious Metals's book value?
Triple Flag Precious Metals's shareholders' equity (book value) was $2.0 billion at the end of fiscal 2025, or $10.00 per share.
What is Triple Flag Precious Metals's current ratio?
Triple Flag Precious Metals had current assets of $152.5 million and current liabilities of $38.9 million, a current ratio of 3.92 (it can cover its short-term obligations).