Denison Mines Corp. (DNN) Key Metrics
DNN key metrics, 2016–2025
Fiscal year ended December 31, 2025 · Canadian dollarsDNN returns How much profit the business earns on the capital it uses.
DNN financial health Debt, liquidity and how easily interest is covered.
DNN efficiency & capital use Working capital cycle and where the cash goes.
DNN returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
DNN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
DNN key metrics in Canadian dollars
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −46.6% | −15.1% | 16.8% | 3.4% | 6.6% | −9.6% | −9.4% | −13.3% | −7.7% | −10.0% |
| Return on invested capital (ROIC) | −15.2% | −10.5% | −11.1% | −10.5% | −10.0% | −7.4% | −10.6% | −9.6% | −8.3% | −6.6% |
| Return on assets (ROA) | −24.0% | −13.1% | 14.5% | 2.8% | 4.8% | −6.0% | −6.4% | −9.4% | −5.8% | −7.9% |
| Return on tangible assets | −19.0% | −13.7% | 12.4% | 2.8% | 3.7% | −5.8% | −7.0% | −9.6% | −5.4% | −8.0% |
| Free cash flow margin | — | — | — | −386.8% | −112.4% | −95.4% | −97.9% | −144.8% | 104.1% | −67.9% |
| Income quality (OCF / net income) | — | — | −0.34 | −1.94 | −1.12 | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | C$613.9M | C$36,000 | C$417,000 | C$576,000 | C$508,000 | C$482,731 | C$772,700 | C$5.6M | C$5.8M | C$370,971 |
| Cash & short-term investments | C$539.0M | C$114.8M | C$141.5M | C$58.9M | C$78.4M | C$32.7M | C$6.3M | C$23.2M | C$41.5M | C$15.9M |
| Net debt | C$74.9M | −C$114.8M | −C$141.0M | −C$58.4M | −C$77.9M | −C$32.2M | −C$5.5M | −C$17.7M | −C$35.8M | −C$15.5M |
| Debt / equity | 1.67 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.02 | 0.00 |
| Debt / assets | 0.54 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.02 | 0.00 |
| Net debt / EBITDA | — | — | −1.46 | −3.07 | −2.83 | — | — | — | — | — |
| Current ratio | 10.75 | 3.65 | 8.28 | 3.65 | 5.31 | 4.17 | 1.11 | 2.54 | 3.65 | 2.36 |
| Quick ratio | 10.51 | 3.54 | 8.08 | 3.50 | 5.10 | 3.92 | 0.88 | 2.25 | 3.40 | 2.03 |
| Interest coverage | -5.6 | -586.3 | -940.4 | -608.5 | -7.4 | -4.5 | -7.2 | -7.2 | -279.0 | -156.6 |
| Working capital | C$507.7M | C$89.8M | C$130.6M | C$48.7M | C$70.5M | C$29.5M | C$1.2M | C$19.2M | C$36.6M | C$13.2M |
| Invested capital | C$443.0M | C$449.5M | C$500.7M | C$377.7M | C$318.8M | C$146.2M | C$156.5M | C$204.6M | C$195.5M | C$216.6M |
| Tangible asset value | C$368.1M | C$564.3M | C$641.8M | C$436.0M | C$396.7M | C$178.4M | C$162.1M | C$222.2M | C$231.3M | C$232.1M |
| Net current asset value | −C$218.0M | C$24.4M | C$63.7M | −C$12.6M | −C$26.7M | −C$63.7M | −C$83.4M | −C$58.2M | −C$45.2M | −C$37.1M |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | C$0 | C$0 | C$0 | C$0 |
| Share buybacks (net) | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 |
| Dividends + buybacks / free cash flow | — | — | — | — | — | — | — | — | 0.0% | — |
| Capex / revenue | 1,025.9% | 191.2% | 174.3% | 75.9% | 6.2% | 1.9% | 4.6% | 10.1% | 7.5% | 9.2% |
| Capex / operating cash flow | — | — | — | — | — | — | — | — | 6.8% | — |
| Capex / depreciation | 2.84 | 0.77 | 0.34 | 0.79 | 0.17 | 0.04 | 0.08 | 0.18 | 0.17 | 0.31 |
| Stock-based compensation / revenue | 96.5% | 115.8% | 201.9% | 41.6% | 14.2% | 12.7% | 14.3% | 11.8% | 9.3% | 2.5% |
| SG&A / revenue | 397.8% | 410.0% | 750.1% | 140.3% | 48.5% | 52.8% | 50.2% | 46.2% | 52.8% | 32.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 311.8 | 226.3 | 595.8 | 158.6 | 57.5 | 72.8 | 84.2 | 104.2 | 94.4 | 49.0 |
| Days of inventory on hand | 34.0 | 277.7 | 309.6 | 220.5 | 84.2 | 87.4 | 79.1 | 81.6 | 92.3 | 82.0 |
| Days payables outstanding | 70.7 | 694.6 | 515.1 | 317.7 | 131.4 | 207.4 | 149.7 | 131.0 | 156.8 | 154.2 |
| Cash conversion cycle (days) | 275.1 | -190.6 | 390.3 | 61.4 | 10.3 | -47.3 | 13.6 | 54.8 | 30.0 | -23.3 |
| Receivables turnover | 1.17 | 1.61 | 0.61 | 2.30 | 6.34 | 5.02 | 4.33 | 3.50 | 3.87 | 7.46 |
| Payables turnover | 5.16 | 0.53 | 0.71 | 1.15 | 2.78 | 1.76 | 2.44 | 2.79 | 2.33 | 2.37 |
| Inventory turnover | 10.72 | 1.31 | 1.18 | 1.66 | 4.34 | 4.18 | 4.61 | 4.47 | 3.95 | 4.45 |
| Asset turnover | 0.01 | 0.01 | 0.00 | 0.02 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.06 |
| Average receivables | C$4.2M | C$2.5M | C$3.0M | C$3.9M | C$3.2M | C$2.9M | C$3.6M | C$4.4M | C$3.6M | C$2.5M |
| Average payables | C$16.6M | C$9.2M | C$5.2M | C$4.4M | C$4.5M | C$5.9M | C$5.8M | C$5.7M | C$5.7M | C$6.0M |
| Average inventory | C$8.0M | C$3.7M | C$3.1M | C$3.1M | C$2.9M | C$2.5M | C$3.1M | C$3.5M | C$3.3M | C$3.2M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from DNN's annual financial statements (latest annual report filed March 30, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Canadian dollars; data from EODHD. Averages use the opening and closing balance of each year.
DNN valuation and financial ratios
Denison Mines earned a return on equity of −46.6% and a return on invested capital of −15.2% in fiscal 2025. It ended the year with C$613.9 million of debt and C$539.0 million in cash and short-term investments, net debt of C$74.9 million.
See the DNN income statement, the DNN chart for price history, or the DNN stock overview for the latest quote and news.
DNN key metrics FAQ
What is Denison Mines's return on equity?
Denison Mines's return on equity (ROE) was −46.6% in fiscal 2025: net income of -C$217.3 million on average shareholders' equity of C$466.2 million.
What is Denison Mines's ROIC?
Denison Mines's return on invested capital was −15.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Denison Mines have?
Denison Mines had total debt of C$613.9 million at the end of fiscal 2025, a debt-to-equity ratio of 1.67.
What is Denison Mines's current ratio?
Denison Mines's current ratio was 10.75 at the end of fiscal 2025: current assets were 10.75 times current liabilities.