U.S. GoldMining Inc. (USGO) Balance Sheet
USGO balance sheet, FY2025
November 30, 2025 · U.S. dollars$8.4M assets = $836,572 liabilities + $7.6M equity
Both columns are drawn to the same scale: what USGO owns equals what it owes plus shareholders’ equity. Hover a block for its value.
USGO financial health
Descriptive bands, not a rating. Fiscal FY2025.
USGO balance sheet trends, FY2020–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $744,832FY2020 | $8.4MFY2025 | +62.5%/yr | |
| Total liabilities | $683,481FY2020 | $836,572FY2025 | +4.1%/yr | |
| Shareholders’ equity | $61,351FY2020 | $7.6MFY2025 | +162.2%/yr | |
| Cash & short-term investments | $4,445FY2020 | $26.3MFY2025 | +468.2%/yr | |
| Total debt | $494,481FY2020 | $88,392FY2025 | −29.1%/yr | |
| Net cash (debt) | −$490,036FY2020 | $26.2MFY2025 | +$26.7M | |
| Working capital | −$482,986FY2020 | $7.0MFY2025 | +$7.5M | |
| Book value per share | $0.01FY2020 | $0.60FY2025 | +159.8%/yr | |
| Debt / equity | 8.06FY2020 | 0.01FY2025 | −8.05 | |
| Shares outstanding | 12.1MFY2020 | 12.7MFY2025 | +0.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
USGO assets
USGO liabilities and equity
USGO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
USGO balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash & short-term investments | $26.3M | $3.9M | $11.4M | $54,508 | $5,630 | $4,445 |
| Cash & equivalents | $24.9M | $3.9M | $11.4M | $54,508 | $5,630 | $4,445 |
| Short-term investments | $1.4M | $86,261 | — | — | — | — |
| Receivables | $56,024 | $7,419 | $115,113 | $68,000 | $0 | $0 |
| Inventory | $28,644 | $34,858 | $27,249 | $94,932 | $0 | $0 |
| Other current assets | $0 | $195,204 | $462,803 | $12,179 | $17,037 | $7,050 |
| Total current assets | $7.6M | $4.1M | $12.0M | $229,619 | $22,667 | $11,495 |
| Property, plant & equipment (net) | $3.0M | $999,531 | $1.0M | $0 | $417,123 | $733,337 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $31,392 | $0 | $0 | $0 | $0 |
| Total assets | $8.4M | $5.1M | $13.0M | $229,619 | $439,790 | $744,832 |
| Liabilities | ||||||
| Accounts payable | $223,821 | $185,251 | $197,978 | $466,127 | $25 | $0 |
| Short-term debt | $30,221 | $25,144 | $17,268 | $677,783 | $494,481 | $494,481 |
| Total current liabilities | $558,819 | $420,241 | $513,075 | $1.3M | $497,506 | $494,481 |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $88,392 | $109,394 | $135,355 | $0 | — | — |
| Other long-term liabilities | $277,753 | $283,775 | $297,967 | $225,871 | $206,616 | $189,000 |
| Total liabilities | $836,572 | $704,016 | $811,042 | $1.5M | $704,122 | $683,481 |
| Shareholders' equity | ||||||
| Common stock & paid-in capital | $13,309 | $12,457 | $12,399 | $10,135 | $9,500 | $9,500 |
| Retained earnings (deficit) | −$30.2M | −$23.2M | −$14.5M | −$5.1M | −$3.4M | −$2.7M |
| Accumulated other comprehensive income | $4.8M | — | — | — | — | — |
| Total shareholders' equity | $7.6M | $4.4M | $12.2M | −$1.3M | −$264,332 | $61,351 |
| Key figures | ||||||
| Total debt | $88,392 | $109,394 | $135,355 | $677,783 | $494,481 | $494,481 |
| Net cash (debt) | $26.2M | $3.8M | $11.3M | −$623,275 | −$488,851 | −$490,036 |
| Working capital | $7.0M | $3.7M | $11.5M | −$1.1M | −$474,839 | −$482,986 |
| Tangible book value | $7.6M | $4.4M | $12.2M | −$1.3M | −$264,332 | $61,351 |
| Book value per share | $0.60 | $0.36 | $0.98 | −$0.11 | −$0.02 | $0.01 |
| Shares outstanding | 12.7M | 12.4M | 12.4M | 12.1M | 12.1M | 12.1M |
| Current ratio | 13.57 | 9.80 | 23.40 | 0.18 | 0.05 | 0.02 |
| Quick ratio | 47.20 | 9.25 | 22.45 | 0.10 | 0.01 | 0.01 |
| Debt / equity | 0.01 | 0.02 | 0.01 | — | — | 8.06 |
| Equity / assets | 90.1% | 86.3% | 93.8% | −558.9% | −60.1% | 8.2% |
| Aug '26 | May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $46.9M | $7.5M | $4.8M | $26.3M | $3.3M | $3.2M | $3.0M | $11.9M | $4.4M | $8.2M | $10.7M | $11.4M |
| Cash & equivalents | $16.7M | $7.5M | $4.8M | $24.9M | $3.3M | $3.2M | $3.0M | $11.9M | $4.4M | $8.2M | $10.7M | $11.4M |
| Short-term investments | $30.3M | $60.2M | $1.4M | $1.4M | $661,000 | — | $86,261 | — | — | — | — | — |
| Receivables | $0 | $6,039 | $29,783 | $0 | $12,388 | $23,819 | $21,959 | $354,000 | $31,113 | $100,945 | $121,716 | $115,113 |
| Inventory | $0 | $89,119 | $28,644 | $28,644 | $14,720 | $34,858 | $34,858 | $34,858 | $36,183 | $33,916 | $27,249 | $27,249 |
| Other current assets | $0 | $592,581 | $1.2M | $0 | $488,356 | $220,229 | $190,174 | $0 | $816,224 | $1.0M | $264,303 | $462,803 |
| Total current assets | $46.9M | $8.2M | $6.1M | $26.3M | $3.8M | $3.5M | $3.2M | $12.2M | $5.3M | $9.4M | $11.2M | $12.0M |
| Property, plant & equipment (net) | $3.4M | $1.2M | $1.0M | $3.0M | $905,950 | $3.1M | $989,407 | $3.3M | $1.0M | $1.1M | $978,711 | $1.0M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $99.3M | $1 | $31,392 | $148.3M | $0 | $0 | $0 | $38.9M | $31,392 | $0 | $0 | $0 |
| Total assets | $149.6M | $9.3M | $7.1M | $177.6M | $4.7M | $4.4M | $4.2M | $54.4M | $6.4M | $10.5M | $12.1M | $13.0M |
| Liabilities | ||||||||||||
| Accounts payable | — | $194,525 | $321,992 | $223,821 | $40,284 | $199,345 | $243,071 | $185,251 | $391,527 | $231,540 | $308,036 | $197,978 |
| Short-term debt | $225,000 | $30,697 | $30,515 | $299,000 | $28,980 | $28,580 | $26,069 | $387,000 | $25,762 | $24,792 | $24,384 | $17,268 |
| Deferred revenue | — | — | — | — | — | — | — | — | — | −$337,107 | — | — |
| Total current liabilities | $225,000 | $339,000 | $598,686 | $388,000 | $581,379 | $486,147 | $588,209 | $2.4M | $665,859 | $507,970 | $708,723 | $513,075 |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | — | $70,932 | $79,756 | $88,392 | $94,024 | $102,786 | $103,361 | $109,394 | $122,498 | $127,044 | $134,211 | $135,355 |
| Other long-term liabilities | $4.2M | $283,692 | $274,146 | $3.9M | $279,430 | $283,518 | $281,652 | $246,000 | $291,545 | $292,455 | $295,535 | $297,967 |
| Total liabilities | −$50.4M | $622,692 | $872,833 | −$49.2M | $860,809 | $769,665 | $869,861 | −$59.3M | $957,404 | $800,425 | $1.0M | $811,042 |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | $13,513 | $13,322 | — | $12,889 | $12,577 | $12,462 | — | $12,399 | $12,399 | $12,399 | $12,399 |
| Retained earnings (deficit) | −$28.7M | −$36.9M | −$32.1M | −$7.7M | −$28.2M | −$25.4M | −$24.5M | −$4.4M | −$21.5M | −$17.2M | −$15.7M | −$14.5M |
| Accumulated other comprehensive income | −$13.5M | $4.0M | $15.7M | $4.8M | −$27.2M | −$73.7M | −$86.7M | −$86.7M | −$89.2M | — | — | — |
| Total shareholders' equity | $200.0M | $8.7M | $6.2M | $226.8M | $3.9M | $3.6M | $3.3M | $113.8M | $5.4M | $9.7M | $11.1M | $12.2M |
| Key figures | ||||||||||||
| Total debt | $225,000 | $70,932 | $79,756 | $299,000 | $94,024 | $102,786 | $103,361 | $387,000 | $122,498 | $127,044 | $134,211 | $135,355 |
| Net cash (debt) | $46.7M | $7.4M | $4.7M | $26.0M | $3.2M | $3.1M | $2.9M | $11.5M | $4.3M | $8.1M | $10.6M | $11.3M |
| Working capital | $46.7M | $7.8M | $5.5M | $25.9M | $3.2M | $3.0M | $2.6M | $9.9M | $4.6M | $8.9M | $10.4M | $11.5M |
| Tangible book value | $200.0M | $8.7M | $6.2M | $226.8M | $3.9M | $3.6M | $3.3M | $113.8M | $5.4M | $9.7M | $11.1M | $12.2M |
| Book value per share | — | $0.65 | $0.47 | — | $0.30 | $0.29 | $0.27 | $9.14 | $0.44 | $0.78 | $0.90 | $0.99 |
| Shares outstanding | — | 13.4M | 13.3M | — | 12.7M | 12.5M | 12.5M | 12.4M | 12.4M | 12.4M | 12.4M | 12.4M |
| Current ratio | 208.58 | 24.05 | 10.12 | 67.84 | 6.55 | 7.11 | 5.45 | 5.14 | 7.94 | 18.48 | 15.74 | 23.40 |
| Quick ratio | 208.58 | 22.04 | 7.99 | 67.84 | 5.68 | 6.58 | 5.07 | 5.14 | 6.66 | 16.38 | 15.32 | 22.45 |
| Debt / equity | 0.00 | 0.01 | 0.01 | 0.00 | 0.02 | 0.03 | 0.03 | 0.00 | 0.02 | 0.01 | 0.01 | 0.01 |
| Equity / assets | 133.7% | 93.3% | 87.7% | 127.7% | 81.7% | 82.5% | 79.3% | 209.0% | 84.9% | 92.4% | 91.7% | 93.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 20, 2026); data from EODHD.
USGO financial position
At the end of fiscal 2025 (November 30, 2025), U.S. GoldMining had total assets of $8.4 million (up 64.0% from a year earlier), total liabilities of $0.8 million and shareholders' equity of $7.6 million. It held $26.3 million in cash and short-term investments against $0.1 million of debt, a net cash position of $26.2 million. Its current ratio was 13.57. In the latest quarter (ended August 31, 2026) total assets were $149.6 million and equity $200.0 million.
Related: USGO income statement, USGO cash flow statement, USGO key metrics. See the USGO stock overview for the latest quote and news.
USGO balance sheet FAQ
What are U.S. GoldMining's total assets?
U.S. GoldMining reported total assets of $8.4 million at the end of fiscal 2025 (November 30, 2025), compared with $5.1 million a year earlier.
How much debt does U.S. GoldMining have?
U.S. GoldMining had $0.1 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.01.
How much cash does U.S. GoldMining have?
U.S. GoldMining held $26.3 million in cash and short-term investments at the end of fiscal 2025; with $0.1 million of debt that is net cash of $26.2 million.
What is U.S. GoldMining's book value?
U.S. GoldMining's shareholders' equity (book value) was $7.6 million at the end of fiscal 2025, or $0.60 per share.
What is U.S. GoldMining's current ratio?
U.S. GoldMining had current assets of $7.6 million and current liabilities of $0.6 million, a current ratio of 13.57 (it can cover its short-term obligations).