Solitario Zinc Corp. (XPL) Balance Sheet
XPL balance sheet, 2025
December 31, 2025 · U.S. dollars$25.0M assets = $360,000 liabilities + $24.7M equity
Both columns are drawn to the same scale: what XPL owns equals what it owes plus shareholders’ equity. Hover a block for its value.
XPL financial health
Descriptive bands, not a rating. Fiscal 2025.
XPL balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $17.6M2016 | $25.0M2025 | +4.0%/yr | |
| Total liabilities | $126,0002016 | $360,0002025 | +12.4%/yr | |
| Shareholders’ equity | $17.5M2016 | $24.7M2025 | +3.9%/yr | |
| Cash & short-term investments | $16.7M2016 | $7.9M2025 | −7.9%/yr | |
| Total debt | $02016 | $7,0002025 | — | |
| Net cash (debt) | $16.7M2016 | $7.9M2025 | −$8.8M | |
| Working capital | $16.7M2016 | $7.8M2025 | −$8.9M | |
| Book value per share | $0.452016 | $0.282025 | −5.0%/yr | |
| Debt / equity | 0.002016 | 0.002025 | 0.00 | |
| Shares outstanding | 38.9M2016 | 86.8M2025 | +9.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
XPL assets
XPL liabilities and equity
XPL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
XPL balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $7.9M | $5.9M | $9.7M | $5.2M | $6.9M | $8.0M | $8.4M | $11.9M | $14.5M | $16.7M |
| Cash & equivalents | $82,000 | $81,000 | $200,000 | $316,000 | $462,000 | $605,000 | $574,000 | $117,000 | $214,000 | $119,000 |
| Short-term investments | $7.9M | $5.8M | $9.5M | $4.9M | $6.4M | $7.4M | $7.9M | $11.8M | $14.3M | $16.6M |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $268,000 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $61,000 | $66,000 | $273,000 | $38,000 | $303,000 | $26,000 | $46,000 | $211,000 | $114,000 | $89,000 |
| Total current assets | $8.0M | $6.0M | $9.9M | $5.3M | $7.2M | $8.0M | $8.8M | $12.1M | $14.6M | $16.8M |
| Property, plant & equipment (net) | $230,000 | $16.8M | $16.8M | $16.8M | $16.5M | $15.7M | $15.8M | $15.8M | $15.8M | $78,000 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $16.8M | $234,000 | $4,000 | $4,000 | $7,000 | $53,000 | $25,000 | $4,000 | $4,000 | $739,000 |
| Total assets | $25.0M | $23.0M | $26.8M | $22.0M | $23.6M | $23.8M | $24.5M | $27.9M | $30.4M | $17.6M |
| Liabilities | ||||||||||
| Accounts payable | $208,000 | $258,000 | $593,000 | $228,000 | $239,000 | $157,000 | $228,000 | $688,000 | $141,000 | $124,000 |
| Short-term debt | $7,000 | $43,000 | $39,000 | $35,000 | $37,000 | $17,000 | $41,000 | $0 | $0 | $0 |
| Deferred revenue | — | — | −$593,000 | −$228,000 | −$239,000 | −$10,000 | −$41 | — | — | — |
| Total current liabilities | $215,000 | $368,000 | $632,000 | $263,000 | $276,000 | $174,000 | $269,000 | $688,000 | $141,000 | $126,000 |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $7,000 | $50,000 | $89,000 | $35,000 | $72,000 | $7,000 | $48,000 | — | — | — |
| Other long-term liabilities | $145,000 | $152,000 | $175,000 | $125,000 | $160,000 | $125,000 | $132,000 | $125,000 | $125,000 | $0 |
| Total liabilities | $360,000 | $520,000 | $807,000 | $388,000 | $436,000 | $299,000 | $401,000 | $813,000 | $266,000 | $126,000 |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $909,000 | $816,000 | $796,000 | $648,000 | $620,000 | $581,000 | $581,000 | $582,000 | $584,000 | $387,000 |
| Retained earnings (deficit) | −$66.8M | −$63.0M | −$57.6M | −$53.9M | −$50.0M | −$47.6M | −$46.7M | −$43.4M | −$40.3M | −$39.4M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $576,000 | $712,000 |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $24.7M | $22.5M | $25.9M | $21.6M | $23.2M | $23.5M | $24.1M | $27.1M | $30.1M | $17.5M |
| Key figures | ||||||||||
| Total debt | $7,000 | $50,000 | $89,000 | $35,000 | $72,000 | $17,000 | $48,000 | $0 | $0 | $0 |
| Net cash (debt) | $7.9M | $5.9M | $9.6M | $5.2M | $6.8M | $8.0M | $8.4M | $11.9M | $14.5M | $16.7M |
| Working capital | $7.8M | $5.6M | $9.3M | $5.0M | $6.9M | $7.9M | $8.5M | $11.4M | $14.5M | $16.7M |
| Tangible book value | $24.7M | $22.5M | $25.9M | $21.6M | $23.2M | $23.5M | $24.1M | $27.1M | $30.1M | $17.5M |
| Book value per share | $0.28 | $0.28 | $0.38 | $0.34 | $0.39 | $0.40 | $0.42 | $0.46 | $0.63 | $0.45 |
| Shares outstanding | 86.8M | 81.0M | 68.7M | 64.3M | 58.7M | 58.1M | 58.1M | 58.4M | 48.0M | 38.9M |
| Current ratio | 37.26 | 16.28 | 15.73 | 19.98 | 25.94 | 46.26 | 32.55 | 17.64 | 103.64 | 133.31 |
| Quick ratio | 36.97 | 16.10 | 15.30 | 19.83 | 24.84 | 46.11 | 32.38 | 17.33 | 102.83 | 132.60 |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Equity / assets | 98.6% | 97.7% | 97.0% | 98.2% | 98.2% | 98.7% | 98.4% | 97.1% | 99.1% | 99.3% |
| 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 | $9.1M | $8.7M | $7.9M | $8.3M | $9.4M | $5.9M | $5.9M | $7.9M | $9.5M | $8.7M | $9.7M | $5.0M |
| Cash & equivalents | $509,000 | $167,000 | $82,000 | $372,000 | $195,000 | $189,000 | $81,000 | $86,000 | $176,000 | $141,000 | $200,000 | $168,000 |
| Short-term investments | $8.6M | $8.5M | $7.9M | $7.9M | $9.2M | $5.7M | $5.8M | $7.8M | $9.3M | $8.6M | $9.5M | $4.9M |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $143,000 | $171,000 | $61,000 | $68,000 | $229,000 | $66,000 | $66,000 | $102,000 | $147,000 | $205,000 | $273,000 | $237,000 |
| Total current assets | $9.2M | $8.8M | $8.0M | $8.4M | $9.6M | $5.9M | $6.0M | $8.0M | $9.7M | $8.9M | $9.9M | $5.3M |
| Property, plant & equipment (net) | $234,000 | $16.8M | $230,000 | $16.8M | $16.8M | $16.8M | $16.8M | $16.8M | $16.8M | $16.8M | $16.8M | $16.8M |
| 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 | $16.8M | $234,000 | $16.8M | $234,000 | $234,000 | $234,000 | $234,000 | $104,000 | $104,000 | $4,000 | $4,000 | $4,000 |
| Total assets | $26.2M | $25.9M | $25.0M | $25.4M | $26.7M | $23.0M | $23.0M | $24.9M | $26.6M | $25.7M | $26.8M | $22.1M |
| Liabilities | ||||||||||||
| Accounts payable | $650,000 | $271,000 | $208,000 | $467,000 | $461,000 | $217,000 | $258,000 | $638,000 | $251,000 | $207,000 | $593,000 | $295,000 |
| Short-term debt | — | — | $7,000 | $18,000 | $29,000 | $40,000 | $43,000 | $42,000 | $41,000 | $40,000 | $39,000 | $31,000 |
| Deferred revenue | — | — | — | — | — | — | — | — | −$41,000 | −$207 | −$593,000 | — |
| Total current liabilities | $650,000 | $271,000 | $215,000 | $485,000 | $490,000 | $530,000 | $368,000 | $762,000 | $352,000 | $247,000 | $632,000 | $327,000 |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $0 | $0 | $7,000 | $18,000 | $29,000 | $40,000 | $50,000 | $60,000 | $70,000 | $80,000 | $89,000 | $91,000 |
| Other long-term liabilities | $145,000 | $144,999 | $145,000 | $145,000 | $145,000 | $145,000 | $152,000 | $163,000 | $154,000 | $165,000 | $175,000 | $185,000 |
| Total liabilities | $795,000 | $416,000 | $360,000 | $630,000 | $635,000 | $675,000 | $520,000 | $925,000 | $506,000 | $412,000 | $807,000 | $512,000 |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $947,000 | $925,000 | $909,000 | $906,000 | $900,000 | $824,000 | $816,000 | $816,000 | $814,000 | $796,000 | $796,000 | $692,000 |
| Retained earnings (deficit) | −$69.2M | −$67.3M | −$66.8M | −$66.3M | −$64.5M | −$63.5M | −$63.0M | −$61.4M | −$59.1M | −$58.4M | −$57.6M | −$56.6M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $25.4M | $25.4M | $24.7M | $24.7M | $26.0M | $22.3M | $22.5M | $24.0M | $26.1M | $25.3M | $25.9M | $21.6M |
| Key figures | ||||||||||||
| Total debt | — | — | $7,000 | $18,000 | $29,000 | $40,000 | $50,000 | $60,000 | $70,000 | $80,000 | $89,000 | $91,000 |
| Net cash (debt) | — | — | $7.9M | $8.3M | $9.4M | $5.8M | $5.9M | $7.8M | $9.4M | $8.6M | $9.6M | $5.0M |
| Working capital | $8.6M | $8.6M | $7.8M | $7.9M | $9.2M | $5.4M | $5.6M | $7.2M | $9.3M | $8.7M | $9.3M | $5.0M |
| Tangible book value | $25.4M | $25.4M | $24.7M | $24.7M | $26.0M | $22.3M | $22.5M | $24.0M | $26.1M | $25.3M | $25.9M | $21.6M |
| Book value per share | $0.27 | $0.28 | $0.27 | $0.27 | $0.31 | $0.27 | $0.28 | $0.29 | $0.32 | $0.32 | $0.36 | $0.32 |
| Shares outstanding | 93.7M | 91.7M | 90.9M | 90.3M | 84.1M | 81.7M | 81.6M | 81.6M | 81.1M | 79.6M | 71.8M | 67.8M |
| Current ratio | 14.21 | 32.66 | 37.26 | 17.26 | 19.69 | 11.20 | 16.28 | 10.48 | 27.44 | 36.05 | 15.73 | 16.14 |
| Quick ratio | 13.99 | 32.03 | 36.97 | 17.12 | 19.22 | 11.07 | 16.10 | 10.34 | 27.02 | 35.22 | 15.30 | 15.42 |
| Debt / equity | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Equity / assets | 97.0% | 98.4% | 98.6% | 97.5% | 97.6% | 97.1% | 97.7% | 96.3% | 98.1% | 98.4% | 97.0% | 97.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 5, 2026); data from EODHD.
XPL financial position
At the end of fiscal 2025 (December 31, 2025), Solitario Zinc had total assets of $25.0 million (up 8.6% from a year earlier), total liabilities of $0.4 million and shareholders' equity of $24.7 million. It held $7.9 million in cash and short-term investments against $0.0 million of debt, a net cash position of $7.9 million. Its current ratio was 37.26. In the latest quarter (ended June 30, 2026) total assets were $26.2 million and equity $25.4 million.
Related: XPL income statement, XPL cash flow statement, XPL key metrics. See the XPL stock overview for the latest quote and news.
XPL balance sheet FAQ
What are Solitario Zinc's total assets?
Solitario Zinc reported total assets of $25.0 million at the end of fiscal 2025 (December 31, 2025), compared with $23.0 million a year earlier.
How much debt does Solitario Zinc have?
Solitario Zinc had $0.0 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 Solitario Zinc have?
Solitario Zinc held $7.9 million in cash and short-term investments at the end of fiscal 2025; with $0.0 million of debt that is net cash of $7.9 million.
What is Solitario Zinc's book value?
Solitario Zinc's shareholders' equity (book value) was $24.7 million at the end of fiscal 2025, or $0.28 per share.
What is Solitario Zinc's current ratio?
Solitario Zinc had current assets of $8.0 million and current liabilities of $0.2 million, a current ratio of 37.26 (it can cover its short-term obligations).