TMC the metals company Inc. (TMC) Key Metrics
TMC valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.14B
- Enterprise value
- $1.68B
- P/E (TTM)
- —
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- — 10-yr median 4.4
- Price / book
- 35.3 10-yr median 16.8
- EV / EBITDA
- —
- Dividend yield
- —
- Beta
- 1.91
TMC key metrics, 2019–2025
Fiscal year ended December 31, 2025 · U.S. dollarsTMC valuation Price multiples at each fiscal year-end price.
Free cash flow yield+10.4 pts
−1.8%
2025 · hover or tap a bar for each year
20192025
TMC returns How much profit the business earns on the capital it uses.
Return on assets−137.2 pts
−261.5%
2025 · hover or tap a bar for each year
20192025
Asset turnover
0.00
2025 · hover or tap a bar for each year
20192025
TMC per-share figures Results divided by the shares outstanding at year-end.
Revenue per share
$0.00
2025 · hover or tap a bar for each year
20192025
Earnings per share
−$0.83
2025 · hover or tap a bar for each year
20192025
Free cash flow per share
−$0.11
2025 · hover or tap a bar for each year
20192025
Book value per share
−$0.09
2025 · hover or tap a bar for each year
20192025
Shares outstanding+19.5%
384.5M
2025 · hover or tap a bar for each year
20192025
TMC financial health Debt, liquidity and how easily interest is covered.
Net debt−$125.9M
−$117.6M
2025 · hover or tap a bar for each year
20192025
Current ratio+1,925.7%
1.98
2025 · hover or tap a bar for each year
20192025
Interest coverage
-43.6
2025 · hover or tap a bar for each year
20192025
TMC efficiency & capital use Working capital cycle and where the cash goes.
Days payables outstanding+26,960 days
64,311 days
2025 · hover or tap a bar for each year
20192025
TMC valuation history
Fiscal year-endToday7-year median
TMC returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TMC debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TMC cash returned to shareholders
DividendsBuybacksFree cash flow
TMC price vs earnings per share
Share price at year-endEPS (right axis)
TMC key metrics
2019–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Valuation | |||||||
| Market capitalization | $2.37B | $360.5M | $317.5M | $184.7M | $426.2M | $1.92B | — |
| Enterprise value | $2.25B | $368.8M | $324.7M | $190.6M | $370.7M | $1.91B | — |
| Price / sales | — | — | 4.4 | 1.3 | 4.5 | — | — |
| Price / book | — | — | 29.1 | 4.5 | 4.6 | 53.0 | — |
| EV / sales | — | — | 4.5 | 1.3 | 3.9 | — | — |
| Earnings yield | −13.5% | −22.7% | −23.2% | −92.6% | −33.1% | −2.9% | — |
| Free cash flow yield | −1.8% | −12.2% | −18.9% | −36.7% | −13.3% | −1.4% | — |
| Shareholder yield (dividends + buybacks) | — | — | — | 0.0% | 0.0% | — | — |
| Share price at fiscal year-end | $6.17 | $1.12 | $1.10 | $0.77 | $2.08 | $10.76 | — |
| Per share | |||||||
| Revenue per share | $0.00 | $0.00 | $0.25 | $0.59 | $0.46 | $0.00 | $0.00 |
| Earnings per share | −$0.83 | −$0.25 | −$0.26 | −$0.71 | −$0.69 | −$0.32 | −$0.33 |
| Operating cash flow per share | −$0.11 | −$0.14 | −$0.21 | −$0.28 | −$0.27 | −$0.15 | −$0.11 |
| Free cash flow per share | −$0.11 | −$0.14 | −$0.21 | −$0.28 | −$0.28 | −$0.15 | −$0.13 |
| Cash per share | $0.31 | $0.01 | $0.02 | $0.20 | $0.41 | $0.06 | $0.12 |
| Book value per share | −$0.09 | −$0.05 | $0.04 | $0.17 | $0.45 | $0.20 | $0.06 |
| Tangible book value per share | −$0.10 | −$0.06 | $0.03 | $0.17 | $0.45 | $0.20 | $0.06 |
| Capex per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.02 |
| Debt per share | — | $0.04 | $0.05 | $0.22 | $0.14 | — | — |
| Shares outstanding | 384.5M | 321.9M | 288.6M | 239.9M | 204.9M | 178.6M | 131.3M |
| Change in shares outstanding | +19.5% | +11.5% | +20.3% | +17.1% | +14.8% | +36.0% | — |
| Returns & profitability | |||||||
| Return on equity (ROE) | — | — | −281.5% | −254.7% | −219.1% | −254.9% | −526.1% |
| Return on invested capital (ROIC) | — | — | −174.8% | −325.1% | 372.8% | 486.2% | — |
| Return on assets (ROA) | −261.5% | −124.3% | −90.2% | −150.0% | −150.5% | −155.1% | −235.1% |
| Return on tangible assets | −180.3% | −134.2% | −109.7% | −180.4% | −106.1% | −103.6% | −235.1% |
| Free cash flow margin | — | — | −83.5% | −47.8% | −59.8% | — | — |
| Financial health | |||||||
| Total debt | — | $11.8M | $14.0M | $52.7M | $29.4M | — | — |
| Cash & short-term investments | $117.6M | $3.5M | $6.8M | $46.8M | $84.9M | $10.1M | $16.0M |
| Net debt | −$117.6M | $8.3M | $7.2M | $5.9M | −$55.5M | −$10.1M | −$16.0M |
| Debt / equity | — | — | 1.28 | 1.27 | 0.32 | — | — |
| Debt / assets | — | 0.19 | 0.20 | 0.56 | 0.22 | — | — |
| Current ratio | 1.98 | 0.10 | 0.28 | 1.19 | 3.33 | 1.32 | 8.89 |
| Quick ratio | 1.98 | 0.10 | 0.28 | 1.26 | 3.47 | 1.34 | 8.89 |
| Interest coverage | -43.6 | -31.2 | -92.7 | — | 149.1 | — | — |
| Working capital | $58.2M | −$49.2M | −$22.5M | $8.0M | $62.0M | $2.5M | $14.2M |
| Invested capital | −$151.1M | −$8.8M | $18.1M | $47.4M | $37.2M | $26.2M | −$7.8M |
| Tangible asset value | −$37.7M | −$19.0M | $9.3M | $41.5M | $92.8M | $36.3M | $8.2M |
| Net current asset value | −$97.4M | −$74.8M | −$49.2M | −$3.7M | $48.2M | −$8.2M | $5.9M |
| Graham net-net per share | −$0.25 | −$0.24 | −$0.18 | −$0.03 | $0.21 | −$0.05 | $0.04 |
| Capital allocation | |||||||
| Share buybacks (net) | — | — | — | $70 | $0 | — | — |
| Capex / revenue | — | — | 0.8% | 0.8% | 0.4% | — | — |
| Capex / depreciation | 0.97 | 1.42 | 1.61 | 2.80 | 0.89 | 1.08 | 6,255.82 |
| Stock-based compensation / revenue | — | — | 17.2% | 14.2% | 79.0% | — | — |
| R&D / revenue | — | — | — | 9.6% | 10.8% | — | — |
| SG&A / revenue | — | — | 100.0% | 20.9% | 54.2% | — | — |
| Efficiency | |||||||
| Days sales outstanding | — | — | 1.5 | 0.2 | 0.2 | — | — |
| Days of inventory on hand | — | — | — | -2,763.3 | -1,543.5 | -88.8 | — |
| Days payables outstanding | 64,311.0 | 37,351.0 | 15,943.9 | 11,652.9 | 12,471.8 | 1,986.9 | — |
| Cash conversion cycle (days) | — | — | -15,942.4 | -14,416.0 | -14,015.0 | — | — |
| Receivables turnover | 0.00 | 0.00 | 246.67 | 1,567.27 | 1,573.65 | 0.00 | 0.00 |
| Payables turnover | 0.01 | 0.01 | 0.02 | 0.03 | 0.03 | 0.18 | — |
| Asset turnover | 0.00 | 0.00 | 0.88 | 1.24 | 1.01 | 0.00 | 0.00 |
| Average receivables | $1.6M | $358,000 | $292,000 | $90,500 | $60,000 | $34,436 | $12,871 |
| Average payables | $44.4M | $37.0M | $15.7M | $13.3M | $15.4M | $3.1M | $1.8M |
| Average inventory | — | — | — | −$3.2M | −$1.9M | −$136,784 | — |
| Intangibles / total assets | 2.3% | 3.1% | 2.4% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from TMC's annual financial statements (latest annual report filed March 31, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
TMC valuation and financial ratios
The share count rose 192.8% from 131.3M to 384.5M over 6 years.
See the TMC income statement, the TMC chart for price history, or the TMC stock overview for the latest quote and news.
TMC key metrics FAQ
What is TMC the metals company's free cash flow yield?
TMC the metals company generated -$43.1 million of free cash flow in fiscal 2025, a free cash flow yield of −1.8% on its market value at year-end ($2.4 billion).
What is TMC the metals company's current ratio?
TMC the metals company's current ratio was 1.98 at the end of fiscal 2025: current assets were 1.98 times current liabilities.