Western Copper and Gold Corporation (WRN) Balance Sheet
WRN balance sheet, 2025
December 31, 2025 · Canadian dollarsC$195.7M assets = C$2.7M liabilities + C$193.1M equity
Both columns are drawn to the same scale: what WRN owns equals what it owes plus shareholders’ equity. Hover a block for its value.
WRN financial health
Descriptive bands, not a rating. Fiscal 2025.
WRN balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | C$46.1M2016 | C$195.7M2025 | +17.4%/yr | |
| Total liabilities | C$706,2932016 | C$2.7M2025 | +15.9%/yr | |
| Shareholders’ equity | C$45.4M2016 | C$193.1M2025 | +17.5%/yr | |
| Cash & short-term investments | C$7.2M2016 | C$50.5M2025 | +24.1%/yr | |
| Total debt | C$02016 | C$236,7892025 | — | |
| Net cash (debt) | C$7.2M2016 | C$50.3M2025 | +C$43.0M | |
| Working capital | C$6.7M2016 | C$48.7M2025 | +C$42.0M | |
| Debt / equity | 0.002016 | 0.002025 | 0.00 | |
| Shares outstanding | 94.4M2016 | 200.7M2025 | +8.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
WRN assets
WRN liabilities and equity
WRN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
WRN balance sheet in Canadian dollars
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | C$50.5M | C$69.1M | C$32.1M | C$23.1M | C$47.9M | C$29.4M | C$1.8M | C$4.8M | C$4.4M | C$7.2M |
| Cash & equivalents | C$8.3M | C$14.2M | C$26.0M | C$1.3M | C$30.7M | C$28.6M | C$1.6M | C$3.0M | C$395,370 | C$611,690 |
| Short-term investments | C$42.2M | C$54.8M | C$6.1M | C$21.8M | C$17.2M | C$736,960 | C$160,500 | C$1.8M | C$4.0M | C$6.6M |
| Receivables | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 |
| Inventory | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 |
| Other current assets | C$771,557 | C$954,853 | C$1.3M | C$1.4M | C$860,529 | C$677,905 | C$281,517 | C$159,188 | C$173,857 | C$137,754 |
| Total current assets | C$51.3M | C$70.0M | C$33.3M | C$24.6M | C$48.7M | C$30.1M | C$2.1M | C$4.9M | C$4.6M | C$7.4M |
| Property, plant & equipment (net) | C$282,171 | C$122.8M | C$110.6M | C$89.8M | C$66.8M | C$53.7M | C$48.4M | C$41.9M | C$40.7M | C$38.7M |
| Goodwill & intangible assets | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 |
| Long-term investments | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 |
| Other non-current assets | C$144.2M | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 |
| Total assets | C$195.7M | C$192.8M | C$143.9M | C$114.4M | C$115.5M | C$83.8M | C$50.5M | C$46.9M | C$45.2M | C$46.1M |
| Liabilities | ||||||||||
| Accounts payable | — | C$3.1M | C$4.3M | C$4,222 | C$2,229 | C$1.2M | C$372,790 | C$602,206 | C$672,532 | C$706,293 |
| Short-term debt | C$171,969 | C$33,408 | C$185,515 | C$245,673 | C$171,167 | — | — | C$0 | C$0 | C$0 |
| Deferred revenue | — | — | −C$4,276 | −C$4,222 | −C$2,229 | — | — | — | — | — |
| Total current liabilities | C$2.6M | C$3.2M | C$4.5M | C$4.5M | C$3.2M | C$1.2M | C$462,565 | C$602,206 | C$672,532 | C$706,293 |
| Long-term debt | C$0 | C$0 | C$0 | C$0 | C$262,150 | C$0 | C$0 | C$0 | C$0 | C$0 |
| Lease obligations | C$236,985 | C$60,639 | C$197,813 | C$417,981 | C$433,318 | C$0 | — | C$0 | C$0 | C$0 |
| Other long-term liabilities | C$64,820 | C$27,231 | C$12,298 | C$172,308 | C$1 | C$0 | C$0 | C$0 | C$0 | C$0 |
| Total liabilities | C$2.7M | C$3.2M | C$4.5M | C$4.6M | C$3.4M | C$1.2M | C$462,565 | C$602,206 | C$672,532 | C$706,293 |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | C$279.3M | C$272.5M | C$216.3M | C$183.5M | C$183.2M | C$150.9M | C$116.9M | C$111.9M | C$108.0M | C$106.0M |
| Retained earnings (deficit) | −C$124.9M | −C$121.9M | −C$114.9M | −C$111.6M | −C$106.6M | −C$102.9M | −C$100.9M | −C$99.1M | −C$96.2M | −C$93.6M |
| Treasury stock | — | — | — | — | — | — | — | C$0 | C$0 | C$0 |
| Accumulated other comprehensive income | — | — | C$0 | C$0 | C$0 | — | — | C$0 | C$32.7M | C$0 |
| Minority interest | — | — | — | — | — | — | — | C$0 | C$0 | C$0 |
| Total shareholders' equity | C$193.1M | C$189.6M | C$139.4M | C$109.7M | C$112.1M | C$82.6M | C$50.0M | C$46.3M | C$44.5M | C$45.4M |
| Key figures | ||||||||||
| Total debt | C$236,789 | C$60,639 | C$197,813 | C$417,981 | C$433,318 | — | — | C$0 | C$0 | C$0 |
| Net cash (debt) | C$50.3M | C$69.0M | C$31.9M | C$22.7M | C$47.4M | — | — | C$4.8M | C$4.4M | C$7.2M |
| Working capital | C$48.7M | C$66.9M | C$28.9M | C$20.1M | C$45.6M | C$28.9M | C$1.6M | C$4.3M | C$3.9M | C$6.7M |
| Tangible book value | C$193.1M | C$189.6M | C$139.4M | C$109.7M | C$112.1M | C$82.6M | C$50.0M | C$46.3M | C$44.5M | C$45.4M |
| Shares outstanding | 200.7M | 187.9M | 159.8M | 151.5M | 144.3M | 114.9M | 104.2M | 99.9M | 95.9M | 94.4M |
| Current ratio | 19.69 | 22.18 | 7.47 | 5.50 | 15.42 | 25.41 | 4.50 | 8.21 | 6.78 | 10.42 |
| Quick ratio | 19.39 | 21.88 | 7.19 | 5.17 | 15.15 | 24.83 | 3.90 | 7.94 | 6.52 | 10.23 |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | 0.00 | 0.00 | 0.00 |
| Equity / assets | 98.6% | 98.3% | 96.9% | 95.9% | 97.0% | 98.6% | 99.1% | 98.7% | 98.5% | 98.5% |
| 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 | C$128.7M | C$134.7M | C$50.5M | C$56.1M | C$60.9M | C$64.8M | C$69.1M | C$74.9M | C$78.1M | C$32.8M | C$32.1M | C$33.0M |
| Cash & equivalents | C$58.0M | C$32.0M | C$8.3M | C$10.4M | C$17.8M | C$10.1M | C$14.2M | C$16.5M | C$20.8M | C$20.3M | C$26.0M | C$3.9M |
| Short-term investments | C$70.6M | C$102.7M | C$42.2M | C$45.7M | C$43.1M | C$54.6M | C$54.8M | C$58.4M | C$57.3M | C$12.5M | C$6.1M | C$29.2M |
| Receivables | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 |
| Inventory | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 |
| Other current assets | C$1.1M | C$816,768 | C$771,557 | C$578,376 | C$694,434 | C$1.1M | C$954,853 | C$611,242 | C$615,213 | C$1.3M | C$1.3M | C$937,723 |
| Total current assets | C$129.8M | C$135.5M | C$51.3M | C$56.7M | C$61.5M | C$65.8M | C$70.0M | C$75.5M | C$78.7M | C$34.2M | C$33.3M | C$34.0M |
| Property, plant & equipment (net) | C$155.2M | C$190,064 | C$282,171 | C$141.6M | C$135.6M | C$128.2M | C$122.8M | C$118.1M | C$114.8M | C$250,047 | C$110.6M | C$107.1M |
| Goodwill & intangible assets | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 |
| Long-term investments | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 |
| Other non-current assets | C$0 | C$147.9M | C$144.2M | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$111.9M | C$0 | C$0 |
| Total assets | C$284.9M | C$283.6M | C$195.7M | C$198.3M | C$197.2M | C$194.0M | C$192.8M | C$193.6M | C$193.5M | C$146.3M | C$143.9M | C$141.1M |
| Liabilities | ||||||||||||
| Accounts payable | — | — | — | C$5.2M | C$5.2M | C$2.9M | C$3.1M | C$2.9M | C$2.7M | C$4.2M | C$4.3M | C$7,103 |
| Short-term debt | C$197,010 | C$120,528 | C$171,969 | C$186,452 | C$123,434 | C$18,663 | C$33,408 | C$34,767 | C$80,149 | C$139,766 | C$185,515 | C$236,934 |
| Deferred revenue | — | — | — | — | — | — | — | — | −C$2.7M | −C$4.2M | −C$4,276 | −C$7,103 |
| Total current liabilities | C$4.1M | C$3.0M | C$2.6M | C$5.4M | C$5.3M | C$2.9M | C$3.2M | C$2.9M | C$2.8M | C$4.3M | C$4.5M | C$7.3M |
| Long-term debt | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 |
| Lease obligations | C$747,237 | C$132,491 | C$236,985 | C$278,844 | C$247,089 | C$42,398 | C$60,639 | C$34,767 | C$80,149 | C$139,766 | C$197,813 | C$254,714 |
| Other long-term liabilities | C$1.1M | C$12,304 | C$64,820 | C$92,392 | C$123,655 | C$23,735 | C$27,231 | C$296 | C$0 | C$0 | C$12,298 | C$17,780 |
| Total liabilities | C$5.2M | C$3.0M | C$2.7M | C$5.5M | C$5.5M | C$3.0M | C$3.2M | C$2.9M | C$2.8M | C$4.3M | C$4.5M | C$7.4M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | C$369.2M | C$369.8M | C$279.3M | C$277.8M | C$275.4M | C$274.3M | C$272.5M | C$272.2M | C$272.2M | C$219.9M | C$216.3M | C$210.3M |
| Retained earnings (deficit) | −C$129.2M | −C$127.8M | −C$124.9M | −C$124.0M | −C$123.1M | −C$122.5M | −C$121.9M | −C$120.3M | −C$119.6M | −C$116.5M | −C$114.9M | −C$114.4M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | — | — | C$0 | C$0 |
| Total shareholders' equity | C$279.7M | C$280.6M | C$193.1M | C$192.8M | C$191.7M | C$191.0M | C$189.6M | C$190.7M | C$190.7M | C$142.0M | C$139.4M | C$133.7M |
| Key figures | ||||||||||||
| Total debt | C$747,237 | C$132,833 | C$236,789 | C$278,844 | C$247,089 | C$42,398 | C$60,639 | C$34,767 | C$80,149 | C$139,766 | C$197,813 | C$254,714 |
| Net cash (debt) | C$127.9M | C$134.6M | C$50.3M | C$55.8M | C$60.6M | C$64.7M | C$69.0M | C$74.9M | C$78.0M | C$32.7M | C$31.9M | C$32.8M |
| Working capital | C$125.6M | C$132.5M | C$48.7M | C$51.3M | C$56.2M | C$62.9M | C$66.9M | C$72.6M | C$75.9M | C$29.8M | C$28.9M | C$26.6M |
| Tangible book value | C$279.7M | C$280.6M | C$193.1M | C$192.8M | C$191.7M | C$191.0M | C$189.6M | C$190.7M | C$190.7M | C$142.0M | C$139.4M | C$133.7M |
| Shares outstanding | 225.7M | 211.3M | 202.3M | 201.4M | 200.1M | 199.1M | 198.2M | 198.2M | 187.8M | 167.1M | 163.4M | 162.5M |
| Current ratio | 31.48 | 45.19 | 19.69 | 10.53 | 11.52 | 22.49 | 22.18 | 25.74 | 28.49 | 7.88 | 7.47 | 4.63 |
| Quick ratio | 31.21 | 44.92 | 19.39 | 10.42 | 11.39 | 22.13 | 21.88 | 25.54 | 28.26 | 7.57 | 7.19 | 4.50 |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Equity / assets | 98.2% | 98.9% | 98.6% | 97.2% | 97.2% | 98.5% | 98.3% | 98.5% | 98.6% | 97.0% | 96.9% | 94.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported (latest annual report filed March 26, 2026); data from EODHD.
WRN financial position
At the end of fiscal 2025 (December 31, 2025), Western Copper and Gold had total assets of C$195.7 million (up 1.5% from a year earlier), total liabilities of C$2.7 million and shareholders' equity of C$193.1 million. It held C$50.5 million in cash and short-term investments against C$0.2 million of debt, a net cash position of C$50.3 million. Its current ratio was 19.69. In the latest quarter (ended June 30, 2026) total assets were C$284.9 million and equity C$279.7 million.
Related: WRN income statement, WRN cash flow statement, WRN key metrics. See the WRN stock overview for the latest quote and news.
WRN balance sheet FAQ
What are Western Copper and Gold's total assets?
Western Copper and Gold reported total assets of C$195.7 million at the end of fiscal 2025 (December 31, 2025), compared with C$192.8 million a year earlier.
How much debt does Western Copper and Gold have?
Western Copper and Gold had C$0.2 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.00.
How much cash does Western Copper and Gold have?
Western Copper and Gold held C$50.5 million in cash and short-term investments at the end of fiscal 2025; with C$0.2 million of debt that is net cash of C$50.3 million.
What is Western Copper and Gold's book value?
Western Copper and Gold's shareholders' equity (book value) was C$193.1 million at the end of fiscal 2025.
What is Western Copper and Gold's current ratio?
Western Copper and Gold had current assets of C$51.3 million and current liabilities of C$2.6 million, a current ratio of 19.69 (it can cover its short-term obligations).