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Fortuna Mining Corp.

Financial Statements (IFRS) · Amounts in CAD
5 10 All
Income Statement
Balance Sheet
Cash Flow
Line Item FY 2025Dec 31, 2025 FY 2024Dec 31, 2024 FY 2023Dec 31, 2023 FY 2022Dec 31, 2022 FY 2021Dec 31, 2021
Total Revenue 947.1M 677.2M 842.4M 681.5M 599.9M
Operating Revenue 947.1M 677.2M 842.4M 681.5M 599.9M
Cost Of Revenue 480.2M 443.9M 652.4M 534.7M 394.4M
Gross Profit 466.9M 233.4M 190.0M 146.8M 205.5M
Selling General And Administration 97.7M 68.1M 66.9M 61.5M 45.4M
General And Administrative Expense 97.7M 68.1M 66.9M 61.5M 45.4M
Other Operating Expenses -- 8.9M 11.8M 2.4M 18.6M
Operating Expense 97.7M 68.1M 70.4M 63.8M 64.0M
Operating Income 369.2M 165.3M 119.7M 83.0M 141.5M
EBIT 426.1M 168.5M 14.1M -113.8M 119.8M
Interest Expense 25.9M 26.8M 25.1M 11.4M 12.6M
Interest Expense Non Operating 25.9M 26.8M 25.1M 11.4M 12.6M
Interest Income 14.5M 3.7M 3.7M 1.9M 1.8M
Interest Income Non Operating 14.5M 3.7M 3.7M 1.9M 1.8M
Net Interest Income -12.3M -24.1M -21.8M -9.7M -10.8M
Other Income Expense 43.3M 589,000 -108.9M -198.4M -23.5M
Other Non Operating Income Expenses 189,000 -1.3M -6.0M -521,000 -4.7M
Special Income Charges 46.8M -298,000 -103.2M -189.5M -14.7M
Restructuring And Mergern Acquisition -- -- 6.4M 0.00 14.1M
Write Off -- -- -- -- 327,000
Gain On Sale Of Security -3.7M 2.2M 261,000 -8.4M -8.8M
Earnings From Equity Interest -- -- -- -- 0.00
Pretax Income 400.2M 141.7M -11.1M -125.1M 107.2M
Tax Provision 111.4M 51.4M 32.6M 10.8M 47.8M
Tax Effect Of Unusual Items 12.0M 675,104 -41.2M -51.9M -6.2M
Net Income From Continuing And Discontinued Operation 287.5M 128.7M -50.8M -128.1M 57.9M
Net Income From Continuing Operation Net Minority Interest 265.2M 77.1M -50.8M -128.1M 57.9M
Net Income Including Noncontrolling Interests 311.1M 141.9M -43.6M -135.9M 59.4M
Minority Interests -23.6M -13.2M -7.2M 7.8M -1.5M
Net Income Common Stockholders 287.5M 128.7M -50.8M -128.1M 57.9M
Net Income 287.5M 128.7M -50.8M -128.1M 57.9M
EBITDA 617.1M 344.0M 233.8M 59.1M 242.0M
Normalized EBITDA 574.0M 342.2M 336.7M 256.9M 265.6M
Reconciled Depreciation 191.0M 175.5M 219.7M 172.8M 122.3M
Basic EPS 0.94 0.42 -0.17 -0.44 0.24
Diluted EPS 0.90 0.41 -0.17 -0.44 0.23
Basic Average Shares 306.9M 308.9M 295.1M 291.3M 238.0M
Diluted Average Shares 334.9M 310.7M 295.1M 291.3M 249.4M
Total Unusual Items 43.1M 1.9M -102.9M -197.9M -23.5M
Total Unusual Items Excluding Goodwill 43.1M 1.9M -102.9M -197.9M -23.5M
Tax Rate For Calcs 0.28 0.36 0.40 0.26 0.27
Normalized Income 234.1M 76.0M 10.9M 17.9M 75.2M
Average Dilution Earnings -- -- -- 0.00 3.8M
Diluted NI Availto Com Stockholders 287.5M 128.7M -50.8M -128.1M 61.7M
Gain On Sale Of Ppe -879,000 -298,000 -209,000 -789,000 -818,000
Impairment Of Capital Assets -47.7M 0.00 96.6M 188.7M 0.00
Net Income Continuous Operations 288.8M 90.3M -43.6M -135.9M 59.4M
Net Income Discontinuous Operations 22.3M 51.6M -- -- --
Net Non Operating Interest Income Expense -12.3M -24.1M -21.8M -9.7M -10.8M
Other Gand A 31.4M 31.6M 55.8M 50.2M 39.4M
Other Special Charges -- -- -- -- 595,000
Other Taxes -- 1.3M -- -- --
Provision For Doubtful Accounts -- -- -- -- 659,000
Reconciled Cost Of Revenue 480.2M 443.9M 652.4M 534.7M 394.4M
Salaries And Wages 66.4M 36.4M 11.1M 11.3M 6.0M
Total Expenses 577.9M 512.0M 722.8M 598.5M 458.3M
Total Operating Income As Reported 408.4M 156.1M -407,000 -113.6M 136.9M
Total Other Finance Cost 944,000 1.1M 304,000 193,000 69,000
Line Item FY 2025Dec 31, 2025 FY 2024Dec 31, 2024 FY 2023Dec 31, 2023 FY 2022Dec 31, 2022 FY 2021Dec 31, 2021
Cash And Cash Equivalents 554.0M 231.3M 128.1M 80.5M 107.1M
Cash Cash Equivalents And Short Term Investments 560.7M 231.4M 128.1M 80.5M 107.5M
Other Short Term Investments 6.8M 63,000 -- 78,000 416,000
Accounts Receivable 20.8M 26.7M 20.0M 24.0M 25.7M
Receivables 74.4M 104.1M 74.6M 68.9M 78.2M
Inventory 122.7M 134.5M 115.8M 92.0M 85.8M
Prepaid Assets 6.6M 15.9M 14.6M 11.2M 8.1M
Other Current Assets 124,000 276,000 106,000 123,000 --
Current Assets 764.5M 486.2M 333.3M 252.7M 281.1M
Gross PPE 2.4B 3.0B 2.8B 2.4B 2.2B
Accumulated Depreciation -845.5M -1.4B -1.2B -871.1M -498.7M
Net PPE 1.5B 1.5B 1.6B 1.6B 1.7B
Other Non Current Assets 69.8M 60.6M 46.0M 51.1M 24.0M
Total Non Current Assets 1.6B 1.6B 1.6B 1.6B 1.7B
Total Assets 2.4B 2.1B 2.0B 1.9B 2.0B
Current Debt -- -- 43.9M -- --
Current Debt And Capital Lease Obligation 21.2M 19.8M 58.8M 9.4M 10.5M
Accounts Payable 77.9M 91.2M 100.4M 72.6M 82.5M
Payables 235.2M 231.8M 179.8M 123.2M 151.3M
Payables And Accrued Expenses 235.2M 231.8M 179.8M 123.2M 151.3M
Other Current Liabilities -- -- 81,000 270,000 3.1M
Current Liabilities 256.4M 256.0M 243.8M 135.1M 166.8M
Long Term Debt 134.4M 126.0M 162.9M 219.2M 157.5M
Long Term Debt And Capital Lease Obligation 190.1M 174.2M 205.4M 231.1M 176.4M
Long Term Capital Lease Obligation 55.7M 48.2M 42.5M 11.9M 18.9M
Other Non Current Liabilities 8.3M 4.1M 10.0M 2.6M 3.3M
Total Non Current Liabilities Net Minority Interest 368.9M 393.4M 436.0M 452.4M 425.6M
Total Liabilities Net Minority Interest 625.3M 649.5M 679.7M 587.5M 592.4M
Common Stock 1.1B 1.1B 1.1B 1.1B 1.1B
Capital Stock 1.1B 1.1B 1.1B 1.1B 1.1B
Retained Earnings 488.1M 216.4M 87.6M 138.5M 266.6M
Gains Losses Not Affecting Retained Earnings 26.6M 20.7M 20.5M 25.1M 24.0M
Other Equity Adjustments 26.6M 20.7M 25.3M 28.1M 26.9M
Common Stock Equity 1.7B 1.4B 1.2B 1.2B 1.4B
Stockholders Equity 1.7B 1.4B 1.2B 1.2B 1.4B
Total Equity Gross Minority Interest 1.7B 1.5B 1.3B 1.3B 1.4B
Minority Interest 58.3M 62.2M 49.8M 43.9M 54.4M
Total Capitalization 1.8B 1.5B 1.4B 1.5B 1.5B
Net Tangible Assets 1.7B 1.4B 1.2B 1.2B 1.4B
Tangible Book Value 1.7B 1.4B 1.2B 1.2B 1.4B
Working Capital 508.2M 230.2M 89.6M 117.6M 114.3M
Invested Capital 1.8B 1.5B 1.4B 1.5B 1.5B
Total Debt 211.3M 194.0M 264.2M 240.5M 186.9M
Net Debt -- -- 78.7M 138.7M 50.4M
Share Issued 305.8M 306.9M 306.6M 290.2M 291.5M
Ordinary Shares Number 305.8M 306.9M 306.6M 290.2M 291.5M
Assets Held For Sale Current -- -- -- 26,000 0.00
Capital Lease Obligations 76.9M 68.0M 57.4M 21.3M 29.4M
Construction In Progress 32.3M 73.9M 44.2M 154.6M 57.8M
Current Capital Lease Obligation 21.2M 19.8M 14.9M 9.4M 10.5M
Current Provisions -- 4.5M 5.1M 2.2M 1.9M
Financial Assets -- -- -- -- 129,000
Finished Goods 76.7M 78.6M 62.6M 47.6M 54.4M
Foreign Currency Translation Adjustments -- -5.3M -4.8M -3.0M -2.9M
Hedging Assets Current -- -- -- 19,000 1.5M
Income Tax Payable 81.8M 80.1M 31.8M 11.6M 20.6M
Long Term Provisions 50.3M 70.8M 60.7M 51.1M 54.2M
Non Current Accounts Receivable 7.7M 29.5M 14.3M 4.8M 4.5M
Non Current Deferred Assets -- -- -- -- 22,000
Non Current Deferred Liabilities 120.3M 144.3M 159.9M 167.6M 191.7M
Non Current Deferred Taxes Assets -- -- -- -- 22,000
Non Current Deferred Taxes Liabilities 120.3M 144.3M 159.9M 167.6M 191.7M
Other Current Borrowings -- -- 43.9M -- --
Other Equity Interest 37.0M 37.0M 4.8M 4.8M 4.8M
Other Payable 75.4M 60.5M 47.6M 39.1M 48.2M
Other Properties 876.9M 1.0B 941.5M 704.8M 675.5M
Other Receivables 8.2M 4.3M 5.2M 7.4M 4.4M
Raw Materials 46.0M 55.9M 53.2M 44.5M 31.4M
Taxes Receivable 45.4M 73.1M 49.5M 37.5M 48.1M
Total Tax Payable 81.8M 80.1M 31.8M 11.6M 20.6M
Line Item FY 2025Dec 31, 2025 FY 2024Dec 31, 2024 FY 2023Dec 31, 2023 FY 2022Dec 31, 2022 FY 2021Dec 31, 2021
Operating Cash Flow 455.4M 235.7M 296.9M 194.2M 147.1M
Cash Flow From Continuing Operating Activities 455.4M 235.7M 296.9M 194.2M 147.1M
Depreciation Amortization Depletion 191.0M 175.5M 219.7M 172.8M 122.3M
Stock Based Compensation -- 8.1M 2.0M -1,000 -3.1M
Deferred Tax 111.4M 51.4M 32.6M 10.8M 47.8M
Deferred Income Tax 111.4M 51.4M 32.6M 10.8M 47.8M
Change In Working Capital -15,000 -57.0M -9.7M -18.0M -39.3M
Change In Receivables -- -46.4M -17.1M 7.3M -16.9M
Change In Inventory -- -24.5M -21.0M -20.4M -23.8M
Change In Payables And Accrued Expense -- -4.3M 31.6M -3.3M 3.6M
Change In Payable -- -4.3M 31.6M -3.3M 3.6M
Other Non Cash Items -4.1M 28.2M 41.8M 20.3M 22.3M
Capital Expenditure -178.0M -161.1M -217.3M -251.2M -152.3M
Purchase Of PPE -178.0M -161.1M -217.3M -251.2M -152.3M
Net PPE Purchase And Sale -178.0M -161.1M -217.3M -251.2M -152.3M
Purchase Of Business -- 0.00 -13.3M 0.00 -25.3M
Sale Of Business -- -- -- 0.00 65.6M
Purchase Of Investment -24.9M -35.9M -9.4M 0.00 0.00
Sale Of Investment 22.8M 45.6M 21.8M 0.00 14,000
Net Investment Purchase And Sale -2.1M 9.7M 12.4M 0.00 14,000
Investing Cash Flow -161.8M -153.6M -216.9M -255.3M -118.5M
Cash Flow From Continuing Investing Activities -161.8M -153.6M -216.9M -255.3M -118.5M
Issuance Of Debt 0.00 240.5M 75.5M 80.0M 0.00
Repayment Of Debt -24.4M -258.4M -107.1M -32.2M -44.2M
Net Issuance Payments Of Debt -24.4M -17.9M -31.6M 47.8M -44.2M
Issuance Of Capital Stock -- -- -- 0.00 313,000
Repurchase Of Capital Stock -10.3M -34.1M 0.00 -5.9M 0.00
Net Common Stock Issuance -10.3M -34.1M 0.00 -5.9M 313,000
Common Stock Payments -10.3M -34.1M 0.00 -5.9M 0.00
Financing Cash Flow -47.7M -60.5M -32.7M 38.5M -51.4M
Cash Flow From Continuing Financing Activities -47.7M -60.5M -32.7M 38.5M -51.4M
Effect Of Exchange Rate Changes 6.0M -1.9M 346,000 -4.0M -2.0M
Changes In Cash 316.6M 105.1M 47.3M -22.6M -22.8M
Beginning Cash Position 231.3M 128.1M 80.5M 107.1M 131.9M
End Cash Position 554.0M 231.3M 128.1M 80.5M 107.1M
Free Cash Flow 277.4M 74.6M 79.6M -57.0M -5.2M
Asset Impairment Charge -47.7M 0.00 96.6M 188.7M 0.00
Cash Flow From Discontinued Operation 70.8M 83.5M -- -- --
Change In Prepaid Assets -- 2.6M -3.2M -1.6M -2.1M
Common Stock Issuance -- -- -- 0.00 313,000
Earnings Losses From Equity Investments 23.8M 8.0M -- -- --
Gain Loss On Investment Securities -5.0M -9.2M -12.4M -1.2M 1.3M
Interest Paid Cfo -9.5M -15.1M -13.5M -7.5M -7.4M
Interest Received Cfo 13.9M 3.7M 3.7M 1.9M 1.7M
Long Term Debt Issuance 0.00 172.5M 0.00 -- --
Long Term Debt Payments -24.4M -25.4M -16.6M -12.2M -11.9M
Net Business Purchase And Sale -- 0.00 -13.3M 0.00 40.3M
Net Foreign Currency Exchange Gain Loss -5.9M -1.2M 5.7M 4.6M 4.3M
Net Income From Continuing Operations 288.8M 90.3M -43.6M -135.9M 59.4M
Net Long Term Debt Issuance -24.4M 147.1M -16.6M -12.2M -11.9M
Net Other Financing Charges -13.1M -8.5M -1.4M -3.4M -7.5M
Net Other Investing Changes 18.3M -2.2M 1.4M -4.1M -6.5M
Net Short Term Debt Issuance 0.00 -165.0M -15.0M 60.0M -32.3M
Operating Gains Losses 12.9M -2.4M -6.7M 3.4M 6.2M
Proceeds From Stock Option Exercised -- 0.00 301,000 0.00 --
Short Term Debt Issuance 0.00 68.0M 75.5M 80.0M 0.00
Short Term Debt Payments 0.00 -233.0M -90.5M -20.0M -32.3M
Taxes Refund Paid -101.3M -39.0M -25.9M -42.2M -62.7M
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