Trilogy Metals Inc. (TMQ) Key Metrics
TMQ valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $428.0M
- Enterprise value
- $555.2M
- P/E (TTM)
- —
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- — 10-yr median 12.2
- Price / book
- 5.1 10-yr median 1.5
- EV / EBITDA
- —
- Dividend yield
- —
- Beta
- 1.69
TMQ key metrics, FY2016–FY2025
Fiscal year ended November 30, 2025 · U.S. dollarsTMQ valuation Price multiples at each fiscal year-end price.
Price / book+283.9%
5.7
FY2025 · hover or tap a bar for each year
FY2016FY2025
Free cash flow yield+0.5 pts
−0.5%
FY2025 · hover or tap a bar for each year
FY2016FY2025
TMQ returns How much profit the business earns on the capital it uses.
Return on equity−26.5 pts
−32.9%
FY2025 · hover or tap a bar for each year
FY2016FY2025
Return on invested capital−3.9 pts
−8.3%
FY2025 · hover or tap a bar for each year
FY2016FY2025
Return on assets−22.7 pts
−29.0%
FY2025 · hover or tap a bar for each year
FY2016FY2025
Asset turnover
0.00
FY2025 · hover or tap a bar for each year
FY2016FY2025
TMQ per-share figures Results divided by the shares outstanding at year-end.
Revenue per share
$0.00
FY2025 · hover or tap a bar for each year
FY2016FY2025
Earnings per share
−$0.26
FY2025 · hover or tap a bar for each year
FY2016FY2025
Free cash flow per share
−$0.02
FY2025 · hover or tap a bar for each year
FY2016FY2025
Book value per share−9.4%
$0.75
FY2025 · hover or tap a bar for each year
FY2016FY2025
Shares outstanding+3.1%
164.8M
FY2025 · hover or tap a bar for each year
FY2016FY2025
TMQ financial health Debt, liquidity and how easily interest is covered.
Debt / equity−19.2%
0.00
FY2025 · hover or tap a bar for each year
FY2016FY2025
Net debt−$25.8M
−$51.5M
FY2025 · hover or tap a bar for each year
FY2016FY2025
Current ratio−95.2%
1.57
FY2025 · hover or tap a bar for each year
FY2016FY2025
Debt / assets−35.8%
0.00
FY2025 · hover or tap a bar for each year
FY2016FY2025
TMQ valuation history
Fiscal year-endToday10-year median
TMQ returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TMQ debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TMQ cash returned to shareholders
DividendsBuybacksFree cash flow
TMQ price vs earnings per share
Share price at year-endEPS (right axis)
TMQ key metrics
FY2016–FY2025| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $705.4M | $196.6M | $65.6M | $86.0M | $245.5M | $279.1M | $243.4M | $270.3M | $85.5M | $58.9M |
| Enterprise value | $653.9M | $170.9M | $63.1M | $83.6M | $239.6M | $268.5M | $224.2M | $247.4M | $77.6M | $44.0M |
| P/E ratio | — | — | — | — | — | 1.7 | — | — | — | — |
| Price / sales | — | — | — | — | — | — | 12.7 | 16.4 | 5.7 | 11.7 |
| Price / book | 5.7 | 1.5 | 0.5 | 0.6 | 1.5 | 1.5 | 13.3 | 8.4 | 3.3 | 1.3 |
| EV / sales | — | — | — | — | — | — | 11.7 | 15.0 | 5.1 | 8.7 |
| Earnings yield | −6.0% | −4.4% | −22.8% | −28.2% | −8.8% | 58.0% | −11.5% | −8.1% | −24.7% | −8.3% |
| Free cash flow yield | −0.5% | −0.9% | −4.7% | −4.6% | −2.1% | −3.0% | −9.9% | −8.2% | −18.4% | −15.0% |
| Dividend yield | — | — | — | — | — | — | — | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | — | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% |
| Share price at fiscal year-end | $4.28 | $1.23 | $0.43 | $0.59 | $1.70 | $1.93 | $1.80 | $2.22 | $0.81 | $0.56 |
| Per share | ||||||||||
| Revenue per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.14 | $0.14 | $0.14 | $0.05 |
| Earnings per share | −$0.26 | −$0.05 | −$0.10 | −$0.17 | −$0.15 | $1.12 | −$0.21 | −$0.18 | −$0.20 | −$0.05 |
| Operating cash flow per share | −$0.02 | −$0.01 | −$0.02 | −$0.03 | −$0.04 | −$0.06 | −$0.17 | −$0.18 | −$0.15 | −$0.08 |
| Free cash flow per share | −$0.02 | −$0.01 | −$0.02 | −$0.03 | −$0.04 | −$0.06 | −$0.18 | −$0.18 | −$0.15 | −$0.08 |
| Cash per share | $0.31 | $0.16 | $0.02 | $0.02 | $0.04 | $0.08 | $0.14 | $0.19 | $0.07 | $0.14 |
| Book value per share | $0.75 | $0.83 | $0.90 | $1.00 | $1.15 | $1.27 | $0.14 | $0.26 | $0.24 | $0.44 |
| Tangible book value per share | $0.75 | $0.83 | $0.90 | $1.00 | $1.15 | $1.27 | $0.14 | $0.26 | $0.24 | $0.44 |
| Dividends per share | — | — | — | — | — | — | — | — | $0.00 | $0.00 |
| Capex per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Debt per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — | $0.00 | $0.00 |
| Shares outstanding | 164.8M | 159.8M | 152.6M | 145.7M | 144.4M | 144.6M | 135.2M | 121.8M | 105.6M | 105.1M |
| Change in shares outstanding | +3.1% | +4.7% | +4.8% | +0.9% | −0.1% | +6.9% | +11.0% | +15.4% | +0.4% | +30.9% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −32.9% | −6.4% | −10.6% | −15.6% | −12.4% | 160.1% | −110.6% | −75.5% | −58.8% | −10.1% |
| Return on invested capital (ROIC) | −8.3% | −4.4% | −4.1% | −3.6% | −4.1% | −14.6% | — | −124.9% | −63.0% | −11.6% |
| Return on assets (ROA) | −29.0% | −6.3% | −10.5% | −15.5% | −12.3% | 136.6% | −52.5% | −46.0% | −48.5% | −9.9% |
| Return on tangible assets | −26.9% | −6.4% | −10.8% | −16.6% | −12.9% | 87.3% | −54.1% | −40.0% | −52.4% | −10.4% |
| Free cash flow margin | — | — | — | — | — | — | −125.6% | −133.9% | −104.0% | −175.0% |
| Income quality (OCF / net income) | — | — | — | — | — | −0.05 | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $111,000 | $147,000 | $33,000 | $222,000 | $414,000 | $566,000 | — | — | $0 | $0 |
| Cash & short-term investments | $51.6M | $25.8M | $2.6M | $2.6M | $6.3M | $11.1M | $19.2M | $23.0M | $7.9M | $14.9M |
| Net debt | −$51.5M | −$25.7M | −$2.6M | −$2.4M | −$5.9M | −$10.6M | −$19.2M | −$23.0M | −$7.9M | −$14.9M |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | 0.00 | 0.00 |
| Debt / assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | 0.00 | 0.00 |
| Current ratio | 1.57 | 32.84 | 6.20 | 5.45 | 6.41 | 10.93 | 8.56 | 14.26 | 2.14 | 26.39 |
| Quick ratio | 1.57 | 32.84 | 8.34 | 6.37 | 6.41 | 11.29 | 8.56 | 14.26 | 2.14 | 26.39 |
| Interest coverage | — | — | — | -1.0 | -536.2 | -144.4 | -55.2 | -61.6 | -331.2 | -78.7 |
| Working capital | $18.8M | $25.3M | $2.4M | $2.4M | $5.6M | $10.4M | $17.8M | $22.0M | $4.9M | $15.1M |
| Invested capital | $72.6M | $107.1M | $135.0M | $143.1M | $160.1M | $173.3M | −$911,000 | $9.2M | $17.8M | $31.3M |
| Tangible asset value | $124.1M | $132.8M | $137.6M | $145.4M | $166.0M | $183.8M | $18.3M | $32.2M | $25.7M | $46.2M |
| Net current asset value | $18.7M | $25.1M | $2.4M | $2.3M | $5.3M | $10.0M | −$13.2M | $1.2M | −$5.5M | $15.1M |
| Graham number | — | — | — | — | — | $5.66 | — | — | — | — |
| Graham net-net per share | $0.11 | $0.16 | $0.01 | $0.01 | $0.04 | $0.07 | −$0.10 | $0.00 | −$0.06 | $0.14 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | $0 | $0 |
| Share buybacks (net) | — | — | — | $0 | $0 | $0 | $0 | $0 | $90,000 | $29,000 |
| Capex / revenue | — | — | — | — | — | — | 3.4% | 0.0% | 2.0% | 2.4% |
| Capex / depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 5.67 | 1.31 | 3.06 | 0.04 | 2.80 | 1.56 |
| Stock-based compensation / revenue | — | — | — | — | — | — | 20.0% | 8.7% | 4.7% | 12.2% |
| R&D / revenue | — | — | — | — | — | — | — | — | 100.0% | 100.0% |
| SG&A / revenue | — | — | — | — | — | — | 43.6% | 32.1% | 27.3% | 71.4% |
| Efficiency | ||||||||||
| Days sales outstanding | — | — | — | — | — | — | 2.7 | 5.5 | 6.2 | 3.1 |
| Days of inventory on hand | — | — | -34,013.4 | -5,313.3 | -3,214.9 | -87.2 | — | — | — | — |
| Days payables outstanding | — | 15,603.8 | 7,619.4 | 4,219.0 | 3,745.6 | 133.2 | 12.4 | 35.1 | 35.4 | 11.6 |
| Cash conversion cycle (days) | — | — | — | — | — | — | -9.6 | -29.6 | -29.1 | -8.5 |
| Receivables turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 133.87 | 66.90 | 58.41 | 117.14 |
| Payables turnover | 0.00 | 0.02 | 0.05 | 0.09 | 0.10 | 2.74 | 29.51 | 10.41 | 10.32 | 31.38 |
| Asset turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.36 | 0.35 | 0.35 | 0.10 |
| Average receivables | $67,000 | $24,500 | $25,000 | $18,000 | $74,000 | $196,500 | $143,500 | $246,500 | $258,500 | $43,000 |
| Average payables | $421,000 | $171,000 | $167,000 | $196,500 | $215,500 | $564,000 | $651,000 | $1.6M | $1.5M | $160,500 |
| Average inventory | — | — | −$745,500 | −$247,467 | −$184,967 | −$369,000 | — | — | $0 | $0 |
| 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 TMQ's annual financial statements (latest annual report filed February 17, 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.
TMQ valuation and financial ratios
Trilogy Metals earned a return on equity of −32.9% and a return on invested capital of −8.3% in fiscal 2025. It ended the year with $0.1 million of debt and $51.6 million in cash and short-term investments, a net cash position of $51.5 million. The share count rose 56.8% from 105.1M to 164.8M over 9 years.
See the TMQ income statement, the TMQ chart for price history, or the TMQ stock overview for the latest quote and news.
TMQ key metrics FAQ
What is Trilogy Metals's return on equity?
Trilogy Metals's return on equity (ROE) was −32.9% in fiscal 2025: net income of -$42.2 million on average shareholders' equity of $128.5 million.
What is Trilogy Metals's ROIC?
Trilogy Metals's return on invested capital was −8.3% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Trilogy Metals have?
Trilogy Metals had total debt of $0.1 million at the end of fiscal 2025, a debt-to-equity ratio of 0.00 and more cash than debt.
What is Trilogy Metals's free cash flow yield?
Trilogy Metals generated -$3.2 million of free cash flow in fiscal 2025, a free cash flow yield of −0.5% on its market value at year-end ($705.4 million).
What is Trilogy Metals's current ratio?
Trilogy Metals's current ratio was 1.57 at the end of fiscal 2025: current assets were 1.57 times current liabilities.