Platinum Group Metals Ltd. (PLG) Cash Flow Statement
Where PLG’s cash came from and went, FY2025
August 31, 2025 · U.S. dollars- Cash from operations
- −$3.4M
- Capital expenditures
- $2.1M
- Free cash flow
- −$5.5M
- Returned to shareholders
- —
- Change in cash
- −$3.3M cash at year-end $417,000
Cash from operations
−$3.4M
Capital expenditures
−$2.1M
Investments (net)
−$11.1M
Acquisitions & other
−$17,000
Share buybacks (net)
+$14.3M
Net borrowing (repayment)
−$87,000
Shares issued
+$14.2M
Other financing
−$15.0M
Currency & other
−$92,000
Change in cash
−$3.3M
Drawn to scale: where the cash came from and how it was used. Hover for values.
PLG operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
PLG cash flow trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $1.6MFY2016 | −$3.4MFY2025 | — | |
| Capital expenditures | $133.3MFY2016 | $2.1MFY2025 | −37.0%/yr | |
| Free cash flow | −$131.7MFY2016 | −$5.5MFY2025 | — | |
| Stock-based compensation | $150,000FY2016 | $1.2MFY2025 | +25.9%/yr | |
| Dividends paid | $0FY2016 | $81,000FY2023 | — | |
| Share buybacks (net) | $0FY2016 | $0FY2025 | — |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
PLG cash flow by activity
OperatingInvestingFinancingChange in cash
PLG net income vs operating cash flow
Net incomeOperating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
PLG cash flow statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$4.5M | −$4.6M | −$5.7M | −$8.2M | −$13.1M | −$7.1M | −$16.8M | −$41.0M | −$590.4M | −$36.7M |
| Depreciation & amortization | $68,000 | $72,000 | $83,000 | $91,000 | $122,000 | $177,000 | $235,000 | $347,000 | $535,000 | $612,746 |
| Stock-based compensation | $1.2M | $1.4M | $2.0M | $2.2M | $3.2M | $1.6M | $787,000 | $77,000 | $1.1M | $150,000 |
| Change in working capital | $104,000 | $319,000 | −$645,000 | −$239,000 | −$72,000 | −$739,000 | −$502,000 | $209,000 | $2.5M | $3.9M |
| Other non-cash items | −$201,000 | $315,000 | $454,000 | $1.8M | $1.8M | $3.0M | $11.3M | $17.0M | $588.8M | $33.7M |
| Cash from operating activities | −$3.4M | −$2.5M | −$3.8M | −$4.5M | −$8.1M | −$3.1M | −$5.0M | −$23.4M | $2.6M | $1.6M |
| Investing activities | ||||||||||
| Capital expenditures | −$2.1M | −$3.4M | −$4.4M | −$3.4M | −$2.4M | −$5.0M | −$7.0M | −$9.1M | −$134.5M | −$133.3M |
| Investments (net) | −$11.1M | −$3.7M | −$5.1M | −$250,000 | −$350,000 | −$5.4M | $552,000 | $7.9M | −$119.3M | −$123.2M |
| Acquisitions & other investing | −$17,000 | $3.4M | $4.5M | −$48,000 | −$43,000 | $5.0M | $7.0M | $9.1M | $135.3M | $128.9M |
| Cash from investing activities | −$13.1M | −$3.7M | −$5.1M | −$3.7M | −$2.8M | −$5.4M | $552,000 | $7.9M | −$118.5M | −$127.7M |
| Financing activities | ||||||||||
| Dividends paid | — | — | −$81,000 | $0 | −$1.5M | $0 | $0 | $0 | $0 | $0 |
| Share repurchases & issuance (net) | $14.3M | −$107,000 | −$40,000 | $26.1M | −$151,000 | $5.8M | $26.8M | $19.9M | $88.8M | $33.0M |
| Net borrowing (repayment) | −$87,000 | −$88,000 | −$88,000 | −$9.5M | −$10.7M | −$66,000 | −$21.0M | −$63.2M | $20.0M | $80.0M |
| Shares issued | $14.2M | $2.5M | $2.0M | $25.9M | $27.9M | $5.7M | $25.0M | $19.9M | $0 | $0 |
| Other financing | −$15.0M | $433,000 | $1.9M | −$28.0M | −$35,000 | −$6.8M | −$24.4M | $38.0M | −$11.6M | −$6.3M |
| Cash from financing activities | $13.3M | $2.7M | $3.7M | $14.5M | $15.6M | $4.6M | $6.4M | $14.6M | $97.2M | $106.7M |
| Summary | ||||||||||
| Net change in cash | −$3.3M | −$3.3M | −$5.3M | $6.3M | $4.8M | −$4.2M | $2.5M | −$397,000 | −$13.0M | −$22.6M |
| Cash at end of period | $417,000 | $3.7M | $7.0M | $12.3M | $6.1M | $1.3M | $5.5M | $3.0M | $3.4M | $16.4M |
| Free cash flow | −$5.5M | −$6.0M | −$8.2M | −$7.8M | −$10.5M | −$8.1M | −$11.9M | −$32.5M | −$131.9M | −$131.7M |
| May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | Aug '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | $955,000 | −$2.0M | −$1.8M | −$1.1M | −$1.2M | −$411,000 | −$1.8M | −$590,000 | −$1.6M | −$813,000 | −$1.6M | −$1.6M |
| Depreciation & amortization | $17,000 | $16,000 | $17,000 | $17,000 | $17,000 | $17,000 | $17,000 | $18,000 | $18,000 | $18,000 | $18,000 | $19,000 |
| Stock-based compensation | −$800,000 | $625,000 | $1.2M | $403,000 | $248,000 | −$218,000 | $760,000 | −$251,000 | $929,000 | $180,000 | $504,000 | $395,000 |
| Change in working capital | −$168,000 | $155,000 | −$87,000 | −$98,000 | −$142,000 | −$28,000 | $372,000 | $73,000 | $148,000 | $99,000 | −$1,000 | $77,000 |
| Other non-cash items | −$580,000 | −$373,000 | −$1.2M | −$291,000 | $263,000 | −$73,000 | −$100,000 | $119,000 | $112,000 | $71,000 | $120,000 | $420,000 |
| Cash from operating activities | −$576,000 | −$1.6M | −$1.9M | −$1.1M | −$770,000 | −$713,000 | −$786,000 | −$631,000 | −$439,000 | −$445,000 | −$917,000 | −$703,000 |
| Investing activities | ||||||||||||
| Capital expenditures | −$618,000 | −$642,000 | −$474,000 | −$419,000 | −$618,000 | −$453,000 | −$591,000 | −$669,000 | −$846,000 | −$705,000 | −$1.2M | −$1.6M |
| Investments (net) | $3.7M | $9.2M | −$1.8M | −$11.4M | −$638,000 | −$469,000 | −$670,000 | −$688,000 | −$862,000 | −$766,000 | −$1.4M | −$1.9M |
| Acquisitions & other investing | $31,000 | $156,000 | $6,000 | $419,000 | $618,000 | $453,000 | $591,000 | $669,000 | $846,000 | $705,000 | $1.2M | $1.6M |
| Cash from investing activities | $3.1M | $8.8M | −$2.2M | −$11.4M | −$638,000 | −$469,000 | −$670,000 | −$688,000 | −$862,000 | −$766,000 | −$1.4M | −$1.9M |
| Financing activities | ||||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | $0 |
| Share repurchases & issuance (net) | $0 | — | $9.2M | $14.3M | −$111,000 | $1.2M | $75,000 | $0 | $0 | — | −$1 | −$1 |
| Net borrowing (repayment) | −$18,000 | −$19,000 | −$23,000 | −$21,000 | −$26,000 | −$17,000 | −$23,000 | −$19,000 | — | — | — | — |
| Shares issued | $2.0M | $27.7M | $9.2M | $7.5M | $5.5M | $1.1M | $0 | $0 | $0 | $0 | $2.5M | $0 |
| Other financing | −$1.0M | −$267,000 | −$9.4M | −$14.4M | $260,000 | −$1.9M | −$270,000 | $266,000 | −$47,733 | $31,000 | −$110,999 | $1.2M |
| Cash from financing activities | $974,000 | $27.4M | $8.9M | $7.4M | $5.7M | $489,000 | −$218,000 | $247,000 | −$47,733 | $31,000 | $2.4M | $1.2M |
| Summary | ||||||||||||
| Net change in cash | $3.8M | $35.5M | $5.0M | −$5.2M | $4.2M | −$684,000 | −$1.6M | −$1.1M | −$1.1M | −$1.3M | $116,000 | −$1.2M |
| Cash at end of period | $44.7M | $40.9M | $5.4M | $417,000 | $5.7M | $1.4M | $2.1M | $3.7M | $4.8M | $5.8M | $7.1M | $7.0M |
| Free cash flow | −$1.2M | −$2.2M | −$2.4M | −$1.5M | −$1.4M | −$1.2M | −$1.4M | −$1.3M | −$1.3M | −$1.1M | −$2.1M | −$2.3M |
| Operating cash flow / net income | −0.60 | — | — | — | — | — | — | — | — | — | — | — |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
PLG cash generation
In fiscal 2025 (ended August 31, 2025), Platinum Group Metals generated -$3.4 million of cash from operations and spent $2.1 million on capital expenditures, leaving free cash flow of -$5.5 million. Cash and equivalents fell by $3.3 million over the year.
Related: PLG income statement, PLG balance sheet. See the PLG stock overview for the latest quote and news.
PLG cash flow FAQ
What is Platinum Group Metals's free cash flow?
Platinum Group Metals's free cash flow was -$5.5 million in fiscal 2025: -$3.4 million of operating cash flow minus $2.1 million of capital expenditures It was -$6.0 million a year earlier..
How much cash does Platinum Group Metals generate from operations?
Platinum Group Metals generated -$3.4 million of cash from operating activities in fiscal 2025.
How much does Platinum Group Metals spend on capital expenditures?
Platinum Group Metals spent $2.1 million on capital expenditures in fiscal 2025, compared with $3.4 million the year before.