Balance Sheet Lundin Gold Inc.

Equities

LUG

CA5503711080

Gold

Delayed Toronto S.E. Other stock markets 08:05:15 17/03/2026 pm IST			5-day change	1st Jan Change
112.21 ^CAD	+2.06%		-6.06%	-1.79%

12/03	Nordic Stocks in North America - Astra Zeneca Rose 0.7 Percent	FW
06/03	Calendar Monday March 9 - Friday March 13	FW

cb7a.w92dSxvFHIOgaG0m0XF0Qxu3FQalZnI0TIGvynZpRGQ.reTQPHr2a9GZCQJU5RosLG-OZVn8NBdODt7NnDMZIlTwkvUhLqhxtegJOA

Published financial data: LUNDIN GOLD INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	73Cr	82Cr	90Cr	119.3Cr	178.29Cr
Total Revenues	73Cr	82Cr	90Cr	119.3Cr	178.29Cr
Cost of Goods Sold, Total	27Cr	32Cr	33Cr	35Cr	42Cr
Gross Profit	46Cr	50Cr	57Cr	84Cr	136.14Cr
Selling General & Admin Expenses, Total	1.58Cr	1.94Cr	2.1Cr	3.26Cr	6.44Cr
Exploration / Drilling Costs, Total	90.65L	1.54Cr	2.37Cr	4.12Cr	5.95Cr
Depreciation & Amortization - (IS)	11Cr	13Cr	14Cr	14Cr	14Cr
Other Operating Expenses	97.05L	-	-	-	-
Other Operating Expenses, Total	14Cr	17Cr	18Cr	21Cr	26Cr
Operating Income	32Cr	33Cr	39Cr	63Cr	110.24Cr
Interest Expense, Total	-3.86Cr	-3.78Cr	-2.87Cr	-55.52L	-
Interest And Investment Income	4L	50.88L	1.3Cr	1.63Cr	2.29Cr
Net Interest Expenses	-3.82Cr	-3.27Cr	-1.58Cr	1.07Cr	2.29Cr
Currency Exchange Gains (Loss)	-	-	-	-	-17.18L
Other Non Operating Income (Expenses)	-2.58Cr	-12Cr	-8.96Cr	23Cr	-
EBT, Excl. Unusual Items	26Cr	18Cr	29Cr	87Cr	112.35Cr
Legal Settlements	-	-	-	-	-
Other Unusual Items	-	-	-	-24Cr	-
EBT, Incl. Unusual Items	26Cr	18Cr	29Cr	63Cr	112.35Cr
Income Tax Expense	3.57Cr	10Cr	11Cr	21Cr	33Cr
Earnings From Continuing Operations	22Cr	7.36Cr	18Cr	43Cr	79Cr
Net Income to Company	22Cr	7.36Cr	18Cr	43Cr	79Cr
Net Income - (IS)	22Cr	7.36Cr	18Cr	43Cr	79Cr
Net Income to Common Incl Extra Items	22Cr	7.36Cr	18Cr	43Cr	79Cr
Net Income to Common Excl. Extra Items	22Cr	7.36Cr	18Cr	43Cr	79Cr
Per Share Items
Net EPS - Basic	0.95	0.31	0.76	1.78	3.29
Basic EPS - Continuing Operations	0.95	0.31	0.76	1.78	3.29
Basic Weighted Average Shares Outstanding	23Cr	23Cr	24Cr	24Cr	24Cr
Net EPS - Diluted	0.94	0.31	0.75	1.76	3.27
Diluted EPS - Continuing Operations	0.94	0.31	0.75	1.76	3.27
Diluted Weighted Average Shares Outstanding	23Cr	24Cr	24Cr	24Cr	24Cr
Normalized Basic EPS	0.69	0.47	0.75	2.28	2.91
Normalized Diluted EPS	0.69	0.47	0.74	2.26	2.9
Dividend Per Share	-	0.2	0.4	0.6	2.34
Payout Ratio	-	63.94	52.89	33.76	83.8
Supplemental Items
EBITDA	43Cr	47Cr	53Cr	77Cr	123.75Cr
EBITA	32Cr	34Cr	39Cr	63Cr	110.32Cr
EBIT	32Cr	33Cr	39Cr	63Cr	110.24Cr
Effective Tax Rate - (Ratio)	13.88	58.51	37.04	32.81	29.5
Total Current Taxes	5.97Cr	2.67Cr	7.69Cr	19Cr	43Cr
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	-2.4Cr	7.7Cr	2.86Cr	1.6Cr	-9.5Cr
Normalized Net Income	16Cr	11Cr	18Cr	54Cr	70Cr
Interest on Long-Term Debt	5.13Cr	24Cr	8.53Cr	3.1Cr	-
Supplemental Operating Expense Items
General and Administrative Expenses	1.58Cr	1.94Cr	2.1Cr	3.26Cr	6.44Cr
Exploration/Drilling Costs	90.65L	1.54Cr	2.37Cr	4.12Cr	5.95Cr
Maintenance & Repair Expenses, Total	-	-	-	-	-
Stock-Based Comp., COGS (Total)	-	-	-	-	-
Stock-Based Compensation - Exploration Costs / Drilling Costs, Total	-	-	-	-	-
Stock-Based Comp., G&A Exp. (Total)	30.38L	50.08L	44.68L	1.57Cr	4.85Cr
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	30.38L	50.08L	44.68L	1.57Cr	4.85Cr

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	26Cr	36Cr	27Cr	35Cr	63Cr
Total Cash And Short Term Investments	26Cr	36Cr	27Cr	35Cr	63Cr
Accounts Receivable, Total	9.65Cr	8.64Cr	9.3Cr	16Cr	20Cr
Other Receivables	5.18Cr	6.19Cr	2.34Cr	5.8Cr	4.25Cr
Total Receivables	15Cr	15Cr	12Cr	21Cr	24Cr
Inventory	8.49Cr	8.98Cr	8.94Cr	8.82Cr	9.29Cr
Prepaid Expenses	1.94Cr	2.08Cr	4.7Cr	1.96Cr	1.83Cr
Other Current Assets, Total	1.3Cr	1.3Cr	1.3Cr	34.94L	-
Total Current Assets	53Cr	64Cr	53Cr	67Cr	98Cr
Gross Property Plant And Equipment	119.04Cr	121.36Cr	123.04Cr	128.95Cr	134.5Cr
Accumulated Depreciation	-15Cr	-25Cr	-35Cr	-46Cr	-57Cr
Net Property Plant And Equipment	104.22Cr	96Cr	88Cr	83Cr	77Cr
Deferred Tax Assets Long-Term	3.11Cr	-	-	-	1.06Cr
Other Long-Term Assets, Total	8.35Cr	6.87Cr	5.54Cr	2.43Cr	1.86Cr
Total Assets	168.51Cr	166.89Cr	146.82Cr	152.75Cr	178.72Cr
Liabilities
Accounts Payable, Total	1.36Cr	1.43Cr	1.68Cr	1.83Cr	1.52Cr
Accrued Expenses, Total	5.44Cr	5.72Cr	5.81Cr	9.17Cr	14Cr
Current Portion of Long-Term Debt	19Cr	35Cr	6.37Cr	-	-
Current Income Taxes Payable	5.48Cr	2.14Cr	4.85Cr	9.68Cr	20Cr
Other Current Liabilities	-	22.64L	-	87.25L	2.43Cr
Total Current Liabilities	31Cr	44Cr	19Cr	22Cr	39Cr
Long-Term Debt	55Cr	32Cr	24Cr	-	-
Deferred Tax Liability Non Current	-	4.66Cr	7.47Cr	8.43Cr	-
Other Non Current Liabilities	78.44L	70.49L	87.22L	1.13Cr	3.45Cr
Total Liabilities	87Cr	82Cr	51Cr	31Cr	42Cr
Common Stock, Total	97Cr	99Cr	100.89Cr	103.54Cr	105.72Cr
Retained Earnings	-18Cr	-15Cr	-6.96Cr	21Cr	34Cr
Comprehensive Income and Other	2.04Cr	1.65Cr	1.65Cr	-3.17Cr	-3.4Cr
Total Common Equity	81Cr	85Cr	96Cr	121.63Cr	136.41Cr
Total Equity	81Cr	85Cr	96Cr	121.63Cr	136.41Cr
Total Liabilities And Equity	168.51Cr	166.89Cr	146.82Cr	152.75Cr	178.72Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	23Cr	24Cr	24Cr	24Cr	24Cr
ECS Total Common Shares Outstanding	23Cr	24Cr	24Cr	24Cr	24Cr
Book Value / Share	3.49	3.62	4.02	5.06	5.65
Tangible Book Value	81Cr	85Cr	96Cr	121.63Cr	136.41Cr
Tangible Book Value Per Share	3.49	3.62	4.02	5.06	5.65
Total Debt	74Cr	67Cr	31Cr	0	0
Net Debt	48Cr	30Cr	3.76Cr	-35Cr	-63Cr
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	7.07Cr	6.72Cr	6.37Cr	6.1Cr	6.27Cr
Inventories - Work In Process, Total	30.57L	58.33L	78.49L	85.46L	97.24L
Inventories - Others	1.12Cr	1.67Cr	1.79Cr	1.87Cr	2.04Cr
Land - (BS)	-	-	-	-	-
Machinery, Total	8.16Cr	8.29Cr	7.66Cr	7.78Cr	8.39Cr
Full Time Employees	-	-	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	22Cr	7.36Cr	18Cr	43Cr	79Cr
Depreciation & Amortization - CF	11Cr	13Cr	14Cr	14Cr	13Cr
Amortization of Goodwill and Intangible Assets - (CF)	1L	6L	7L	8L	8L
Depreciation & Amortization, Total	11Cr	13Cr	14Cr	14Cr	14Cr
Amortization of Deferred Charges, Total - (CF)	44.05L	77.83L	1.1Cr	18.59L	-
Asset Writedown & Restructuring Costs	-	-	-	-	-
Stock-Based Compensation (CF)	30.38L	50.08L	44.68L	1.57Cr	4.85Cr
Other Operating Activities, Total	3.07Cr	23Cr	14Cr	2.2Cr	-10Cr
Change In Accounts Receivable	-1.46Cr	26.3L	93.91L	-3.21Cr	-95.97L
Change In Inventories	-1.89Cr	-72.53L	1L	24.19L	-42.78L
Change In Accounts Payable	1.74Cr	34.39L	24.36L	2.8Cr	5.46Cr
Change In Income Taxes	5.48Cr	-3.34Cr	2.7Cr	4.84Cr	11Cr
Change in Other Net Operating Assets	1.2Cr	1.3Cr	1.2Cr	1.3Cr	34.94L
Cash from Operations	42Cr	43Cr	52Cr	66Cr	102.3Cr
Capital Expenditure	-5.7Cr	-5.4Cr	-4.82Cr	-8.24Cr	-8.6Cr
Sale (Purchase) of Intangible assets	-	-	-	-	-
Other Investing Activities, Total	-61.18L	-60.48L	-52.48L	-1.11Cr	-1.13Cr
Cash from Investing	-6.31Cr	-6.01Cr	-5.35Cr	-9.35Cr	-9.72Cr
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-10Cr	-13Cr	-28Cr	-10Cr	-
Total Debt Repaid	-10Cr	-13Cr	-28Cr	-10Cr	-
Issuance of Common Stock	1.86Cr	1.13Cr	1.42Cr	2.21Cr	1.89Cr
Common Dividends Paid	-	-4.7Cr	-9.49Cr	-14Cr	-66Cr
Common & Preferred Stock Dividends Paid	-	-4.7Cr	-9.49Cr	-14Cr	-66Cr
Other Financing Activities, Total	-8.63Cr	-9.66Cr	-20Cr	-26Cr	-
Cash from Financing	-17Cr	-26Cr	-56Cr	-49Cr	-64Cr
Foreign Exchange Rate Adjustments	-2L	-11.86L	-57T	-2L	45T
Net Change in Cash	18Cr	10Cr	-9.54Cr	8.12Cr	28Cr
Supplemental Items
Cash Interest Paid	8.52Cr	2.79Cr	1.98Cr	36.88L	-
Cash Income Tax Paid (Refund)	-	5.44Cr	4.6Cr	14Cr	31Cr
Levered Free Cash Flow	25Cr	24Cr	36Cr	50Cr	93Cr
Unlevered Free Cash Flow	27Cr	26Cr	37Cr	50Cr	93Cr
Change In Net Working Capital	-1.28Cr	3.4Cr	-3.42Cr	-3.28Cr	-15Cr
Net Debt Issued / Repaid	-10Cr	-13Cr	-28Cr	-10Cr	-

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	12.58	12.48	15.56	26.27	41.57
Return on Total Capital	13.39	13.62	17.55	31.76	53.4
Return On Equity %	31.6	8.83	19.85	39.23	61.4
Return on Common Equity	31.6	8.83	19.85	39.23	61.4
Margin Analysis
Gross Profit Margin %	63.17	61.35	63.35	70.44	76.36
SG&A Margin	2.15	2.38	2.33	2.73	3.61
EBITDA Margin %	58.46	57.08	58.4	64.26	69.41
EBITA Margin %	43.81	41.13	43.33	52.84	61.87
EBIT Margin %	43.79	41.06	43.26	52.77	61.83
Income From Continuing Operations Margin %	30.19	9.02	19.88	35.71	44.43
Net Income Margin %	30.19	9.02	19.88	35.71	44.43
Net Avail. For Common Margin %	30.19	9.02	19.88	35.71	44.43
Normalized Net Income Margin	21.91	13.58	19.74	45.66	39.39
Levered Free Cash Flow Margin	33.73	29.57	40.35	41.49	52.27
Unlevered Free Cash Flow Margin	36.42	31.51	41.12	41.63	52.27
Asset Turnover
Asset Turnover	0.46	0.49	0.58	0.8	1.08
Fixed Assets Turnover	0.68	0.81	0.98	1.4	2.22
Receivables Turnover (Average Receivables)	7.74	8.92	10.06	9.58	10.04
Inventory Turnover (Average Inventory)	3.73	3.61	3.69	3.97	4.66
Short Term Liquidity
Current Ratio	1.7	1.44	2.85	3.13	2.53
Quick Ratio	1.32	1.16	2.06	2.61	2.24
Operating Cash Flow to Current Liabilities	1.34	0.97	2.78	3.07	2.63
Days Sales Outstanding (Average Receivables)	47.16	40.92	36.29	38.19	36.36
Days Outstanding Inventory (Average Inventory)	97.88	101.15	98.88	92.16	78.4
Average Days Payable Outstanding	17.19	15.87	17.13	18.23	14.33
Cash Conversion Cycle (Average Days)	127.84	126.2	118.04	112.12	100.42
Long Term Solvency
Total Debt/Equity	90.85	78.39	31.98	-	-
Total Debt / Total Capital	47.6	43.94	24.23	-	-
LT Debt/Equity	67.75	37.86	25.31	-	-
Long-Term Debt / Total Capital	35.5	21.22	19.18	-	-
Total Liabilities / Total Assets	51.67	48.94	34.9	20.37	23.67
EBIT / Interest Expense	8.32	8.87	13.58	113.4	-
EBITDA / Interest Expense	11.11	12.33	18.34	138.08	-
(EBITDA - Capex) / Interest Expense	9.63	10.9	16.66	123.24	-
Total Debt / EBITDA	1.73	1.43	0.58	-	-
Net Debt / EBITDA	1.11	0.65	0.07	-0.46	-0.51
Total Debt / (EBITDA - Capex)	1.99	1.62	0.64	-	-
Net Debt / (EBITDA - Capex)	1.28	0.74	0.08	-0.51	-0.55
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	104.75	11.23	10.65	32.19	49.44
Gross Profit, 1 Yr. Growth %	105.63	8.02	14.27	46.97	62
EBITDA, 1 Yr. Growth %	106.92	8.6	13.21	45.45	61.43
EBITA, 1 Yr. Growth %	111.61	4.44	16.57	61.19	74.99
EBIT, 1 Yr. Growth %	111.59	4.28	16.58	61.26	75.09
Earnings From Cont. Operations, 1 Yr. Growth %	-569.54	-66.78	143.97	137.41	85.93
Net Income, 1 Yr. Growth %	-569.54	-66.78	143.97	137.41	85.93
Normalized Net Income, 1 Yr. Growth %	-927.49	-31.05	60.79	205.79	28.9
Diluted EPS Before Extra, 1 Yr. Growth %	-547.62	-67.02	141.94	134.67	85.8
Accounts Receivable, 1 Yr. Growth %	3.71	-10.41	7.64	67.62	27.75
Inventory, 1 Yr. Growth %	41.79	5.7	-0.42	-1.34	5.3
Net Property, Plant and Equip., 1 Yr. Growth %	-5.53	-7.43	-8.9	-5.71	-6.51
Total Assets, 1 Yr. Growth %	11.94	-0.96	-12.02	4.04	17
Tangible Book Value, 1 Yr. Growth %	38.79	4.62	12.17	27.25	12.15
Common Equity, 1 Yr. Growth %	38.79	4.62	12.17	27.25	12.15
Cash From Operations, 1 Yr. Growth %	267.6	2.01	21.88	27.53	54.45
Capital Expenditures, 1 Yr. Growth %	-3.02	-5.21	-10.71	70.83	4.34
Levered Free Cash Flow, 1 Yr. Growth %	-479.7	-2.5	50.97	35.94	88.51
Unlevered Free Cash Flow, 1 Yr. Growth %	-689.31	-3.78	44.4	33.83	87.64
Dividend Per Share, 1 Yr. Growth %	-	-	100	50	290
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	50.91	10.94	20.94	40.55
Gross Profit, 2 Yr. CAGR %	-	49.04	11.1	29.59	54.3
EBITDA, 2 Yr. CAGR %	304.37	49.9	10.88	28.32	53.23
EBITA, 2 Yr. CAGR %	249.18	48.66	10.34	37.08	67.95
EBIT, 2 Yr. CAGR %	246.52	48.54	10.26	37.11	68.03
Earnings From Cont. Operations, 2 Yr. CAGR %	36.44	24.89	-9.97	140.67	110.1
Net Income, 2 Yr. CAGR %	36.44	24.89	-9.97	140.67	110.1
Normalized Net Income, 2 Yr. CAGR %	47.02	138.86	5.29	121.74	98.54
Diluted EPS Before Extra, 2 Yr. CAGR %	32.23	21.5	-10.68	138.27	108.81
Accounts Receivable, 2 Yr. CAGR %	114.66	-3.61	-1.8	34.32	46.34
Inventory, 2 Yr. CAGR %	-	22.42	2.59	-0.88	1.93
Net Property, Plant and Equip., 2 Yr. CAGR %	-5.44	-6.48	-8.17	-7.32	-6.11
Total Assets, 2 Yr. CAGR %	9.36	5.29	-6.66	-4.33	10.33
Tangible Book Value, 2 Yr. CAGR %	32.09	20.5	8.33	19.48	19.47
Common Equity, 2 Yr. CAGR %	32.09	20.5	8.33	19.48	19.47
Cash From Operations, 2 Yr. CAGR %	342.8	93.64	11.5	24.67	40.34
Capital Expenditures, 2 Yr. CAGR %	-62.45	-4.12	-8	23.5	33.51
Levered Free Cash Flow, 2 Yr. CAGR %	-25.51	92.41	21.33	43.26	59.97
Unlevered Free Cash Flow, 2 Yr. CAGR %	-22.6	138.13	17.87	39.01	58.46
Dividend Per Share, 2 Yr. CAGR %	-	-	-	73.21	141.87
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	36.08	17.61	29.78
Gross Profit, 3 Yr. CAGR %	-	-	36.41	21.96	39.6
EBITDA, 3 Yr. CAGR %	166.69	160.89	36.51	21.38	38.52
EBITA, 3 Yr. CAGR %	141.8	133.52	37.08	25.2	48.7
EBIT, 3 Yr. CAGR %	133.94	132.21	37.02	25.16	48.76
Earnings From Cont. Operations, 3 Yr. CAGR %	115.69	-14.8	56.12	24.38	120.83
Net Income, 3 Yr. CAGR %	115.69	-14.8	56.12	24.38	120.83
Normalized Net Income, 3 Yr. CAGR %	126.7	14.23	109.34	50.22	85.06
Diluted EPS Before Extra, 3 Yr. CAGR %	101.26	-16.77	52.86	23.25	119.31
Accounts Receivable, 3 Yr. CAGR %	-	60.42	0	17.36	32.1
Inventory, 3 Yr. CAGR %	-	-	14.28	1.26	1.14
Net Property, Plant and Equip., 3 Yr. CAGR %	13.04	-6.11	-7.3	-7.36	-7.05
Total Assets, 3 Yr. CAGR %	18.51	5.81	-0.83	-3.22	2.31
Tangible Book Value, 3 Yr. CAGR %	10.84	22.21	17.66	14.3	16.98
Common Equity, 3 Yr. CAGR %	10.84	22.21	17.66	14.3	16.98
Cash From Operations, 3 Yr. CAGR %	135.14	171.45	65.95	16.61	33.9
Capital Expenditures, 3 Yr. CAGR %	-42.88	-48.87	-6.37	13.08	16.76
Levered Free Cash Flow, 3 Yr. CAGR %	-9.19	-18.52	77.47	26.01	56.91
Unlevered Free Cash Flow, 3 Yr. CAGR %	-6.84	-16.77	101.56	22.97	53.63
Dividend Per Share, 3 Yr. CAGR %	-	-	-	-	127.02
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	-	37.85
Gross Profit, 5 Yr. CAGR %	68.64	-	-	-	43.3
EBITDA, 5 Yr. CAGR %	50.99	87.89	87.74	96.42	42.97
EBITA, 5 Yr. CAGR %	42	75.85	76.67	88.7	48.68
EBIT, 5 Yr. CAGR %	41.94	75.3	73.15	88.09	48.67
Earnings From Cont. Operations, 5 Yr. CAGR %	28.66	12.32	52.07	29.07	75.81
Net Income, 5 Yr. CAGR %	28.66	12.32	52.07	29.07	75.81
Normalized Net Income, 5 Yr. CAGR %	32.56	33.93	66.81	48.93	104.95
Diluted EPS Before Extra, 5 Yr. CAGR %	10.21	-2.13	45.43	26.77	73.17
Accounts Receivable, 5 Yr. CAGR %	-	-	-	49.42	16.45
Inventory, 5 Yr. CAGR %	-	-	-	-	9.17
Net Property, Plant and Equip., 5 Yr. CAGR %	33.62	19.92	4.02	-6.6	-6.82
Total Assets, 5 Yr. CAGR %	43.3	28.21	7.72	1.63	3.49
Tangible Book Value, 5 Yr. CAGR %	24.73	29.4	9.83	21.11	18.38
Common Equity, 5 Yr. CAGR %	24.73	29.4	9.83	21.11	18.38
Cash From Operations, 5 Yr. CAGR %	48.74	71.8	74.47	98.85	55.19
Capital Expenditures, 5 Yr. CAGR %	170.3	-12.7	-30.88	-27.24	7.91
Levered Free Cash Flow, 5 Yr. CAGR %	35.55	12.2	1.97	2.12	70.25
Unlevered Free Cash Flow, 5 Yr. CAGR %	37.65	13.63	2.36	2.18	83.07