Ur-Energy Inc. (URG) Balance Sheet
URG balance sheet, 2025
December 31, 2025 · U.S. dollars$272.5M assets = $195.0M liabilities + $77.5M equity
Both columns are drawn to the same scale: what URG owns equals what it owes plus shareholders’ equity. Hover a block for its value.
URG financial health
Descriptive bands, not a rating. Fiscal 2025.
URG balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $89.9M2016 | $272.5M2025 | +13.1%/yr | |
| Total liabilities | $53.7M2016 | $195.0M2025 | +15.4%/yr | |
| Shareholders’ equity | $36.2M2016 | $77.5M2025 | +8.8%/yr | |
| Cash & short-term investments | $1.6M2016 | $123.9M2025 | +62.7%/yr | |
| Total debt | $23.9M2016 | $68.2M2025 | +12.3%/yr | |
| Net cash (debt) | −$22.4M2016 | $55.6M2025 | +$78.0M | |
| Working capital | −$1.7M2016 | $122.8M2025 | +$124.5M | |
| Book value per share | $0.262016 | $0.212025 | −2.1%/yr | |
| Current ratio | 0.792016 | 5.442025 | +4.65 | |
| Debt / equity | 0.662016 | 0.882025 | +0.22 | |
| Shares outstanding | 142.0M2016 | 368.4M2025 | +11.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
URG assets
URG liabilities and equity
URG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
URG balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $123.9M | $76.1M | $59.7M | $33.0M | $46.2M | $4.3M | $7.8M | $6.4M | $3.9M | $1.6M |
| Cash & equivalents | $123.9M | $76.1M | $59.7M | $33.0M | $46.2M | $4.3M | $7.8M | $6.4M | $3.9M | $1.6M |
| Short-term investments | — | — | — | — | — | — | $1.8M | $1.9M | $1.7M | $580,000 |
| Receivables | $708,000 | $16.9M | $77,000 | $8,000 | $4,000 | −$7.8M | $22,000 | $31,000 | $33,000 | $16,000 |
| Inventory | $24.3M | $20.7M | $2.6M | $9.9M | $7.9M | $7.8M | $7.4M | $1.8M | $4.5M | $4.1M |
| Other current assets | $1.6M | $1.6M | $1.3M | $1.0M | $0 | $814,000 | $0 | $847,000 | $741,000 | $829,000 |
| Total current assets | $150.4M | $115.3M | $63.7M | $43.9M | $48.6M | $5.1M | $8.7M | $9.1M | $9.2M | $6.5M |
| Property, plant & equipment (net) | $93.6M | $66.7M | $56.0M | $55.8M | $56.3M | $61.1M | $66.8M | $71.0M | $71.6M | $75.9M |
| Goodwill & intangible assets | $0 | $0 | $131,000 | $79,000 | $56,000 | $25,000 | $28,000 | $37,000 | $57,000 | $117,000 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $28.4M | $12.2M | $8.6M | $8.1M | $15.8M | $15.6M | $14.9M | $20.3M | $7.5M | $7.4M |
| Total assets | $272.5M | $194.1M | $128.4M | $107.9M | $120.8M | $81.8M | $90.4M | $100.4M | $88.4M | $89.9M |
| Liabilities | ||||||||||
| Accounts payable | $8.6M | $3.3M | $1.7M | $660,000 | $854,000 | $396,000 | $523,000 | $620,000 | $840,000 | $725,000 |
| Short-term debt | $484,000 | $309,000 | $5.9M | $5.4M | $1.3M | $459,000 | $12.2M | $5.1M | $4.8M | $4.5M |
| Deferred revenue | — | — | −$132,038 | $2.1M | $2.1M | $2.0M | −$12.2M | $505,000 | $2.2M | $2.9M |
| Total current liabilities | $27.7M | $19.3M | $10.0M | $6.6M | $6.2M | $3.6M | $2.3M | $7.5M | $7.9M | $8.2M |
| Long-term debt | $67.7M | $931,000 | $0 | $5.7M | $11.1M | $12.7M | $12.2M | $9.6M | $14.7M | $19.4M |
| Lease obligations | $1.8M | $1.2M | $849,000 | $16,000 | $18,000 | $50,000 | $12,000 | — | — | — |
| Other long-term liabilities | $99.6M | $41.1M | $43.5M | $33.1M | $34.2M | $31.4M | $31.6M | $31.4M | $27.0M | $26.1M |
| Total liabilities | $195.0M | $61.3M | $53.5M | $45.4M | $51.5M | $47.7M | $46.1M | $48.5M | $49.6M | $53.7M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $432.8M | $413.2M | $302.2M | $258.6M | $248.3M | $189.6M | $185.8M | $185.2M | $177.1M | $174.9M |
| Retained earnings (deficit) | −$379.0M | −$304.1M | −$250.9M | −$220.3M | −$203.1M | −$180.2M | −$165.4M | −$157.0M | −$161.5M | −$161.6M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | $4.0M | $4.2M | $3.7M | $4.3M | $4.1M | $3.7M | $3.7M | $3.7M | $3.7M | $3.6M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $77.5M | $132.8M | $74.9M | $62.5M | $69.4M | $34.1M | $44.3M | $51.8M | $38.8M | $36.2M |
| Key figures | ||||||||||
| Total debt | $68.2M | $1.2M | $6.5M | $11.1M | $12.3M | $13.2M | $24.4M | $14.7M | $19.4M | $23.9M |
| Net cash (debt) | $55.6M | $74.8M | $53.2M | $21.9M | $33.8M | −$9.0M | −$16.7M | −$8.3M | −$15.6M | −$22.4M |
| Working capital | $122.8M | $96.0M | $53.6M | $37.3M | $42.4M | $1.5M | $6.4M | $1.6M | $1.3M | −$1.7M |
| Tangible book value | $77.5M | $132.8M | $74.7M | $62.4M | $69.3M | $34.1M | $44.3M | $51.8M | $38.7M | $36.1M |
| Book value per share | $0.21 | $0.42 | $0.29 | $0.28 | $0.35 | $0.21 | $0.28 | $0.34 | $0.26 | $0.26 |
| Shares outstanding | 368.4M | 317.7M | 260.0M | 220.5M | 195.7M | 164.3M | 159.9M | 151.6M | 147.5M | 142.0M |
| Current ratio | 5.44 | 5.99 | 6.35 | 6.66 | 7.81 | 1.42 | 3.79 | 1.21 | 1.16 | 0.79 |
| Quick ratio | 4.50 | 4.83 | 5.96 | 5.00 | 7.42 | −0.99 | 3.41 | 0.86 | 0.50 | 0.19 |
| Debt / equity | 0.88 | 0.01 | 0.09 | 0.18 | 0.18 | 0.39 | 0.55 | 0.28 | 0.50 | 0.66 |
| Equity / assets | 28.4% | 68.4% | 58.3% | 57.9% | 57.4% | 41.7% | 49.0% | 51.7% | 43.9% | 40.3% |
| 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 | $95.6M | $123.3M | $123.9M | $52.0M | $57.6M | $74.8M | $76.1M | $118.5M | $61.3M | $53.9M | $59.7M | $54.6M |
| Cash & equivalents | $95.3M | $122.8M | $123.9M | $52.0M | $57.6M | $74.8M | $8.7M | $118.5M | $61.3M | $53.9M | $59.7M | $54.6M |
| Short-term investments | $342,000 | $412,000 | — | — | — | — | — | — | — | — | — | — |
| Receivables | $685,000 | $717,000 | $708,000 | $2.7M | $650,000 | $569,000 | $16.5M | $234,000 | $233,000 | $78,000 | $77,000 | $5.6M |
| Inventory | $22.6M | $28.0M | $24.3M | $19.2M | $20.9M | $23.5M | $20.7M | $4.2M | $5.1M | $4.7M | $2.6M | $4.7M |
| Other current assets | $2.1M | $2.1M | $1.6M | $2.7M | $1.8M | $1.1M | $2.0M | $2.1M | $1.3M | $1.3M | $1.3M | $1.6M |
| Total current assets | $121.0M | $154.1M | $150.4M | $76.6M | $81.0M | $100.0M | $115.3M | $125.0M | $68.0M | $60.0M | $63.7M | $66.5M |
| Property, plant & equipment (net) | $74.2M | $106.7M | $93.6M | $80.9M | $76.9M | $69.8M | $66.7M | $64.9M | $61.2M | $56.1M | $56.0M | $56.1M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $496,000 | $0 | $157,000 | $135,000 | $132,000 | $131,000 | $108,000 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $75.4M | $30.8M | $28.4M | $13.4M | $13.5M | $12.7M | $12.2M | $11.3M | $11.3M | $8.7M | $8.6M | $8.3M |
| Total assets | $270.7M | $291.6M | $272.5M | $170.9M | $171.3M | $182.9M | $194.1M | $201.4M | $140.6M | $124.9M | $128.4M | $131.1M |
| Liabilities | ||||||||||||
| Accounts payable | $12.1M | $9.5M | $8.6M | $8.6M | $5.6M | $4.5M | $3.3M | $5.7M | $3.0M | $3.7M | $1.7M | $2.4M |
| Short-term debt | $567,000 | $513,000 | $484,000 | $1.0M | $1.0M | $370,000 | $0 | $281,000 | $222,000 | $169,000 | $5.9M | $5.7M |
| Deferred revenue | — | — | — | — | — | — | — | — | $1 | $2 | $2 | $1.0M |
| Total current liabilities | $30.3M | $34.7M | $27.7M | $9.8M | $24.1M | $20.7M | $19.3M | $7.5M | $4.3M | $5.1M | $10.0M | $11.7M |
| Long-term debt | $69.3M | $67.6M | $67.7M | $1.4M | $1.3M | $1.1M | $931,000 | $0 | $0 | $0 | $0 | $2.0M |
| Lease obligations | $1.9M | $1.7M | $1.8M | $2.4M | $2.3M | $1.4M | $1.2M | $1.2M | $1.0M | $809,000 | $849,000 | $679,000 |
| Other long-term liabilities | $102.1M | $106.5M | $99.6M | $69.1M | $43.9M | $38.0M | $41.1M | $41.0M | $43.5M | $42.9M | $43.5M | $44.2M |
| Total liabilities | $201.8M | $208.8M | $195.0M | $80.3M | $69.2M | $59.8M | $61.3M | $48.5M | $47.8M | $48.0M | $53.5M | $57.9M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $466.7M | $465.9M | $432.8M | $430.2M | $413.9M | $413.9M | $413.2M | $412.6M | $344.3M | $322.2M | $302.2M | $294.9M |
| Retained earnings (deficit) | −$424.5M | −$407.8M | −$379.0M | −$363.4M | −$336.0M | −$315.0M | −$304.1M | −$284.0M | −$276.0M | −$269.5M | −$250.9M | −$245.4M |
| Accumulated other comprehensive income | $6.4M | $5.0M | $4.0M | $4.3M | $4.2M | $4.2M | — | $4.1M | $4.1M | $4.0M | $3.7M | $4.0M |
| Total shareholders' equity | $68.9M | $82.9M | $77.5M | $90.7M | $102.1M | $123.1M | $132.8M | $152.9M | $92.8M | $76.9M | $74.9M | $73.2M |
| Key figures | ||||||||||||
| Total debt | $71.2M | $69.2M | $68.2M | $19.3M | $2.3M | $1.4M | $931,000 | $1.2M | $1.0M | $809,000 | $6.5M | $7.7M |
| Net cash (debt) | $24.4M | $54.0M | $55.6M | $32.7M | $55.3M | $73.4M | $75.1M | $117.2M | $60.3M | $53.1M | $53.2M | $46.9M |
| Working capital | $90.7M | $119.4M | $122.8M | $66.9M | $56.9M | $79.3M | $96.0M | $117.6M | $63.6M | $54.9M | $53.6M | $54.9M |
| Tangible book value | $68.9M | $82.9M | $77.5M | $90.7M | $102.1M | $122.6M | $132.8M | $152.8M | $92.6M | $76.8M | $74.7M | $73.1M |
| Book value per share | $0.17 | $0.21 | $0.20 | $0.25 | $0.28 | $0.34 | $0.36 | $0.45 | $0.32 | $0.28 | $0.28 | $0.28 |
| Shares outstanding | 397.5M | 388.8M | 378.2M | 367.1M | 364.8M | 364.4M | 364.1M | 341.4M | 286.4M | 278.0M | 269.0M | 265.3M |
| Current ratio | 4.00 | 4.44 | 5.44 | 7.85 | 3.36 | 4.83 | 5.99 | 16.78 | 15.67 | 11.83 | 6.35 | 5.71 |
| Quick ratio | 3.18 | 3.57 | 4.50 | 5.61 | 2.42 | 3.65 | 4.81 | 15.93 | 14.19 | 10.64 | 5.96 | 5.17 |
| Debt / equity | 1.03 | 0.84 | 0.88 | 0.21 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.09 | 0.11 |
| Equity / assets | 25.5% | 28.4% | 28.4% | 53.0% | 59.6% | 67.3% | 68.4% | 75.9% | 66.0% | 61.6% | 58.3% | 55.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 10, 2026); data from EODHD.
URG financial position
At the end of fiscal 2025 (December 31, 2025), Ur-Energy had total assets of $272.5 million (up 40.4% from a year earlier), total liabilities of $195.0 million and shareholders' equity of $77.5 million. It held $123.9 million in cash and short-term investments against $68.2 million of debt, a net cash position of $55.6 million. Its current ratio was 5.44. In the latest quarter (ended June 30, 2026) total assets were $270.7 million and equity $68.9 million.
Related: URG income statement, URG cash flow statement, URG key metrics. See the URG stock overview for the latest quote and news.
URG balance sheet FAQ
What are Ur-Energy's total assets?
Ur-Energy reported total assets of $272.5 million at the end of fiscal 2025 (December 31, 2025), compared with $194.1 million a year earlier.
How much debt does Ur-Energy have?
Ur-Energy had $68.2 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.88.
How much cash does Ur-Energy have?
Ur-Energy held $123.9 million in cash and short-term investments at the end of fiscal 2025; with $68.2 million of debt that is net cash of $55.6 million.
What is Ur-Energy's book value?
Ur-Energy's shareholders' equity (book value) was $77.5 million at the end of fiscal 2025, or $0.21 per share.
What is Ur-Energy's current ratio?
Ur-Energy had current assets of $150.4 million and current liabilities of $27.7 million, a current ratio of 5.44 (it can cover its short-term obligations).