Cash flow Torex Gold Resources Inc.

Equities

TXG

CA8910546032

Gold

Market Closed - Toronto S.E. Other stock markets 01:30:00 11/04/2026 am IST			5-day change	1st Jan Change
67.14 ^CAD	+0.90%		+0.01%	+2.44%

08/04	Orex Gold Resources Inc. Announces Appointment of Jacques Perron as Directors, Effective May 1, 2026	CI
25/03	Torex Gold Resources Inc Reports Year-End 2025 Mineral Reserves and Resources	CI

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Published financial data: TOREX GOLD RESOURCES INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	86Cr	87Cr	88Cr	111.55Cr	130.56Cr
Total Revenues	86Cr	87Cr	88Cr	111.55Cr	130.56Cr
Cost of Goods Sold, Total	33Cr	36Cr	40Cr	46Cr	50Cr
Gross Profit	52Cr	51Cr	48Cr	66Cr	81Cr
Selling General & Admin Expenses, Total	2.04Cr	2.41Cr	2.44Cr	4.74Cr	6.95Cr
Exploration / Drilling Costs, Total	72L	86L	71L	1.13Cr	3.52Cr
Depreciation & Amortization - (IS)	20Cr	20Cr	20Cr	19Cr	17Cr
Other Operating Expenses	-19L	-73L	3.36Cr	5.55Cr	36L
Other Operating Expenses, Total	22Cr	23Cr	27Cr	31Cr	28Cr
Operating Income	30Cr	28Cr	22Cr	35Cr	53Cr
Interest Expense, Total	-24L	-31L	-20L	-22L	-2.49Cr
Interest And Investment Income	28L	98L	1.38Cr	78L	60L
Net Interest Expenses	4L	67L	1.18Cr	56L	-1.89Cr
Currency Exchange Gains (Loss)	11L	13L	12L	-89L	-17L
Other Non Operating Income (Expenses)	-	-	-	-	-
EBT, Excl. Unusual Items	30Cr	29Cr	23Cr	35Cr	51Cr
Asset Writedown	-4.07Cr	-	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	26Cr	29Cr	23Cr	35Cr	51Cr
Income Tax Expense	11Cr	9.77Cr	2.6Cr	22Cr	10Cr
Earnings From Continuing Operations	15Cr	19Cr	20Cr	13Cr	40Cr
Net Income to Company	15Cr	19Cr	20Cr	13Cr	40Cr
Net Income - (IS)	15Cr	19Cr	20Cr	13Cr	40Cr
Net Income to Common Incl Extra Items	15Cr	19Cr	20Cr	13Cr	40Cr
Net Income to Common Excl. Extra Items	15Cr	19Cr	20Cr	13Cr	40Cr
Per Share Items
Net EPS - Basic	1.77	2.2	2.38	1.57	4.58
Basic EPS - Continuing Operations	1.77	2.2	2.38	1.57	4.58
Basic Weighted Average Shares Outstanding	8.57Cr	8.58Cr	8.59Cr	8.6Cr	8.8Cr
Net EPS - Diluted	1.71	2.19	2.34	1.55	4.53
Diluted EPS - Continuing Operations	1.71	2.19	2.34	1.55	4.53
Diluted Weighted Average Shares Outstanding	8.61Cr	8.61Cr	8.64Cr	8.7Cr	8.91Cr
Normalized Basic EPS	2.2	2.09	1.68	2.55	3.61
Normalized Diluted EPS	2.19	2.08	1.67	2.52	3.56
Dividend Per Share	-	-	-	-	0.11
Payout Ratio	-	-	-	-	2.53
Supplemental Items
EBITDA	50Cr	48Cr	42Cr	55Cr	70Cr
EBITA	30Cr	28Cr	22Cr	36Cr	53Cr
EBIT	30Cr	28Cr	22Cr	35Cr	53Cr
Effective Tax Rate - (Ratio)	41.9	34.1	11.28	61.62	20.59
Current Foreign Taxes	12Cr	14Cr	9.8Cr	15Cr	23Cr
Total Current Taxes	12Cr	14Cr	9.8Cr	15Cr	23Cr
Deferred Foreign Taxes	-1.4Cr	-4.69Cr	-7.2Cr	6.65Cr	-13Cr
Total Deferred Taxes	-1.4Cr	-4.69Cr	-7.2Cr	6.65Cr	-13Cr
Normalized Net Income	19Cr	18Cr	14Cr	22Cr	32Cr
Interest Capitalized	1L	8L	21L	87L	18L
Interest on Long-Term Debt	25L	31L	20L	1.09Cr	2.67Cr
Supplemental Operating Expense Items
General and Administrative Expenses	2.04Cr	2.41Cr	2.44Cr	4.74Cr	6.95Cr
Exploration/Drilling Costs	72L	86L	71L	1.13Cr	3.52Cr
Stock-Based Comp., G&A Exp. (Total)	-7L	46L	36L	2.28Cr	4.21Cr
Total Stock-Based Compensation	-7L	46L	36L	2.28Cr	4.21Cr

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	26Cr	38Cr	17Cr	11Cr	12Cr
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	26Cr	38Cr	17Cr	11Cr	12Cr
Accounts Receivable, Total	34L	26L	1.01Cr	1.47Cr	7.28Cr
Other Receivables	5.74Cr	4.37Cr	7.76Cr	6.98Cr	6.22Cr
Total Receivables	6.08Cr	4.63Cr	8.77Cr	8.45Cr	14Cr
Inventory	12Cr	12Cr	13Cr	15Cr	19Cr
Prepaid Expenses	1.13Cr	1.11Cr	1.29Cr	1.69Cr	2.31Cr
Other Current Assets, Total	28L	83L	55L	20L	31L
Total Current Assets	45Cr	56Cr	41Cr	36Cr	47Cr
Gross Property Plant And Equipment	189.31Cr	220.99Cr	273.58Cr	337.2Cr	419.34Cr
Accumulated Depreciation	-105.7Cr	-127.8Cr	-148.68Cr	-170.02Cr	-187.4Cr
Net Property Plant And Equipment	84Cr	93Cr	124.9Cr	167.18Cr	231.94Cr
Loans Receivable Long-Term	-	-	-	-	1.67Cr
Deferred Tax Assets Long-Term	5.54Cr	9.04Cr	16Cr	8.45Cr	21Cr
Other Long-Term Assets, Total	1.35Cr	91L	2.48Cr	1.98Cr	34L
Total Assets	135.89Cr	159.33Cr	183.58Cr	213.98Cr	302.54Cr
Liabilities
Accounts Payable, Total	12Cr	13Cr	10Cr	11Cr	8.29Cr
Accrued Expenses, Total	-	-	4.58Cr	6.21Cr	11Cr
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	21L	26L	2.39Cr	2.92Cr	3.65Cr
Current Income Taxes Payable	7.09Cr	11Cr	8.69Cr	14Cr	17Cr
Other Current Liabilities	-	-	2.41Cr	50L	1.02Cr
Total Current Liabilities	19Cr	24Cr	28Cr	35Cr	41Cr
Long-Term Debt	-	-	-	6.29Cr	2.76Cr
Long-Term Leases	12L	13L	81L	4.91Cr	6.91Cr
Deferred Tax Liability Non Current	2.33Cr	1.14Cr	55L	-	27L
Other Non Current Liabilities	3.96Cr	4.72Cr	4.54Cr	5.08Cr	9.28Cr
Total Liabilities	26Cr	30Cr	34Cr	51Cr	60Cr
Common Stock, Total	103.05Cr	103.15Cr	103.21Cr	103.33Cr	145.54Cr
Additional Paid In Capital	2.43Cr	2.42Cr	2.42Cr	2.42Cr	2.8Cr
Retained Earnings	10Cr	29Cr	50Cr	63Cr	100Cr
Comprehensive Income and Other	-5.66Cr	-5.66Cr	-5.66Cr	-5.66Cr	-5.66Cr
Total Common Equity	110.04Cr	129.01Cr	149.51Cr	163.09Cr	242.66Cr
Total Equity	110.04Cr	129.01Cr	149.51Cr	163.09Cr	242.66Cr
Total Liabilities And Equity	135.89Cr	159.33Cr	183.58Cr	213.98Cr	302.54Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	8.58Cr	8.59Cr	8.6Cr	8.62Cr	9.54Cr
ECS Total Common Shares Outstanding	8.57Cr	8.58Cr	8.59Cr	8.6Cr	9.57Cr
Book Value / Share	12.83	15.03	17.41	18.97	25.36
Tangible Book Value	110.04Cr	129.01Cr	149.51Cr	163.09Cr	242.66Cr
Tangible Book Value Per Share	12.83	15.03	17.41	18.97	25.36
Total Debt	33L	39L	3.2Cr	14Cr	13Cr
Net Debt	-25Cr	-37Cr	-14Cr	3.1Cr	1.37Cr
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	11Cr	11Cr	10Cr	13Cr	16Cr
Inventories - Work In Process, Total	1.14Cr	1.27Cr	1.05Cr	1.25Cr	99L
Inventories - Finished Goods, Total	37L	20L	1.11Cr	63L	2.19Cr
Machinery, Total	-	-	-	-	-
Full Time Employees	-	-	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	15Cr	19Cr	20Cr	13Cr	40Cr
Depreciation & Amortization - CF	20Cr	20Cr	20Cr	19Cr	17Cr
Amortization of Goodwill and Intangible Assets - (CF)	11L	15L	16L	23L	23L
Depreciation & Amortization, Total	20Cr	20Cr	20Cr	19Cr	17Cr
Asset Writedown & Restructuring Costs	4.12Cr	-	-	-	-
Stock-Based Compensation (CF)	-29L	20L	20L	2.18Cr	3.3Cr
Other Operating Activities, Total	-2.46Cr	-1.15Cr	-6.96Cr	11Cr	-7.72Cr
Change In Accounts Receivable	-	-	-	-	-5.65Cr
Change In Inventories	-1.57Cr	18L	-1.25Cr	-47L	-2.59Cr
Change In Accounts Payable	-21L	43L	-35L	-13L	3.66Cr
Change In Income Taxes	-	-	-	-	-
Change in Other Net Operating Assets	-1.74Cr	1.97Cr	-2.4Cr	-34L	46L
Cash from Operations	33Cr	41Cr	30Cr	45Cr	49Cr
Capital Expenditure	-23Cr	-28Cr	-48Cr	-56Cr	-35Cr
Cash Acquisitions	-	-	-	-	-2.09Cr
Investment in Marketable and Equity Securities, Total	3.21Cr	-	-	-	-
Other Investing Activities, Total	-53L	-29L	-1.88Cr	-10L	1.47Cr
Cash from Investing	-20Cr	-28Cr	-50Cr	-56Cr	-36Cr
Long-Term Debt Issued, Total	-	-	-	16Cr	19Cr
Total Debt Issued	-	-	-	16Cr	19Cr
Long-Term Debt Repaid, Total	-4.27Cr	-39L	-48L	-11Cr	-24Cr
Total Debt Repaid	-4.27Cr	-39L	-48L	-11Cr	-24Cr
Issuance of Common Stock	-	-	-	-	16L
Repurchase of Common Stock	-	-	-	-	-3.39Cr
Common Dividends Paid	-	-	-	-	-1.02Cr
Common & Preferred Stock Dividends Paid	-	-	-	-	-1.02Cr
Other Financing Activities, Total	-22L	-38L	-31L	-28L	-2.6Cr
Cash from Financing	-4.49Cr	-77L	-79L	5.36Cr	-12Cr
Foreign Exchange Rate Adjustments	2L	4L	22L	-30L	14L
Net Change in Cash	8.16Cr	12Cr	-20Cr	-6.26Cr	93L
Supplemental Items
Cash Interest Paid	17L	11L	19L	-	-
Cash Income Tax Paid (Refund)	13Cr	11Cr	12Cr	8.9Cr	20Cr
Levered Free Cash Flow	11Cr	16Cr	-17Cr	-8.64Cr	13Cr
Unlevered Free Cash Flow	11Cr	16Cr	-17Cr	-8.5Cr	14Cr
Change In Net Working Capital	4.21Cr	-6.07Cr	2.97Cr	-3.83Cr	4.5Cr
Net Debt Issued / Repaid	-4.27Cr	-39L	-48L	5.64Cr	-5.21Cr

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	14.38	11.79	7.92	11.13	12.79
Return on Total Capital	17.92	14.52	9.63	13.41	15.25
Return On Equity %	14.83	15.8	14.68	8.61	19.88
Return on Common Equity	14.83	15.8	14.68	8.61	19.88
Margin Analysis
Gross Profit Margin %	61.32	58.17	54.91	59.15	61.67
SG&A Margin	2.38	2.77	2.76	4.25	5.32
EBITDA Margin %	58.44	55.44	47.75	49.15	53.58
EBITA Margin %	35.22	32.24	24.81	31.94	40.66
EBIT Margin %	35.09	32.07	24.63	31.73	40.49
Income From Continuing Operations Margin %	17.73	21.74	23.16	12.07	30.9
Net Income Margin %	17.73	21.74	23.16	12.07	30.9
Net Avail. For Common Margin %	17.73	21.74	23.16	12.07	30.9
Normalized Net Income Margin	22.04	20.62	16.32	19.65	24.32
Levered Free Cash Flow Margin	13.17	18.75	-18.92	-7.75	9.85
Unlevered Free Cash Flow Margin	13.34	18.97	-18.78	-7.62	11.04
Asset Turnover
Asset Turnover	0.66	0.59	0.51	0.56	0.51
Fixed Assets Turnover	1.03	0.98	0.81	0.76	0.65
Receivables Turnover (Average Receivables)	311.2	289.5	138.99	89.96	29.84
Inventory Turnover (Average Inventory)	2.81	2.98	3.23	3.29	2.94
Short Term Liquidity
Current Ratio	2.33	2.31	1.44	1.05	1.16
Quick Ratio	1.63	1.74	0.92	0.56	0.63
Operating Cash Flow to Current Liabilities	1.7	1.68	1.07	1.3	1.2
Days Sales Outstanding (Average Receivables)	1.17	1.26	2.63	4.07	12.23
Days Outstanding Inventory (Average Inventory)	129.85	122.32	113.17	111.12	124.22
Average Days Payable Outstanding	128.73	128.79	84.57	79.16	63.85
Cash Conversion Cycle (Average Days)	2.29	-5.21	31.22	36.02	72.6
Long Term Solvency
Total Debt/Equity	0.3	0.3	2.14	8.66	5.49
Total Debt / Total Capital	0.3	0.3	2.1	7.97	5.2
LT Debt/Equity	0.11	0.1	0.54	6.87	3.98
Long-Term Debt / Total Capital	0.11	0.1	0.53	6.32	3.78
Total Liabilities / Total Assets	19.02	19.03	18.56	23.78	19.79
EBIT / Interest Expense	125.12	89.84	108.7	160.91	21.23
EBITDA / Interest Expense	208.38	155.32	210.7	249.23	28.1
(EBITDA - Capex) / Interest Expense	112.33	65.77	-29.05	-6.09	13.87
Total Debt / EBITDA	0.01	0.01	0.08	0.26	0.19
Net Debt / EBITDA	-0.5	-0.77	-0.33	0.06	0.02
Total Debt / (EBITDA - Capex)	0.01	0.02	-0.55	-10.54	0.39
Net Debt / (EBITDA - Capex)	-0.94	-1.82	2.42	-2.31	0.04
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	8.44	1.48	1.62	26.39	17.04
Gross Profit, 1 Yr. Growth %	7.45	-3.73	-4.08	36.15	22.04
EBITDA, 1 Yr. Growth %	15.76	-3.72	-12.48	30.11	27.59
EBITA, 1 Yr. Growth %	44.9	-7.1	-21.79	62.69	49
EBIT, 1 Yr. Growth %	45	-7.26	-21.94	62.83	49.32
Earnings From Cont. Operations, 1 Yr. Growth %	39.17	24.46	8.26	-34.15	199.7
Net Income, 1 Yr. Growth %	39.17	24.46	8.26	-34.15	199.7
Normalized Net Income, 1 Yr. Growth %	62.08	-5.07	-19.58	52.21	44.85
Diluted EPS Before Extra, 1 Yr. Growth %	36.95	27.81	7.08	-33.9	192.26
Accounts Receivable, 1 Yr. Growth %	61.9	-23.53	288.46	45.54	395.24
Inventory, 1 Yr. Growth %	9.89	-2.51	5.32	18.56	26.92
Net Property, Plant and Equip., 1 Yr. Growth %	1.06	11.46	34.03	33.85	38.74
Total Assets, 1 Yr. Growth %	8.5	17.25	15.22	16.56	41.39
Tangible Book Value, 1 Yr. Growth %	16.31	17.24	15.89	9.08	48.79
Common Equity, 1 Yr. Growth %	16.31	17.24	15.89	9.08	48.79
Cash From Operations, 1 Yr. Growth %	-3.54	23.67	-26.29	49.43	8.79
Capital Expenditures, 1 Yr. Growth %	61.87	20.43	72.73	17.14	-36.92
Levered Free Cash Flow, 1 Yr. Growth %	-56.37	44.49	-202.55	-48.24	-248.81
Unlevered Free Cash Flow, 1 Yr. Growth %	-57.56	44.29	-200.58	-48.68	-269.52
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	15.56	4.9	1.55	13.33	21.62
Gross Profit, 2 Yr. CAGR %	21.72	1.71	-3.91	14.28	28.9
EBITDA, 2 Yr. CAGR %	22.66	5.57	-8.21	6.71	28.85
EBITA, 2 Yr. CAGR %	48.6	16.02	-14.76	12.81	55.7
EBIT, 2 Yr. CAGR %	48.71	15.96	-14.92	12.74	55.93
Earnings From Cont. Operations, 2 Yr. CAGR %	45.97	31.61	16.08	-15.57	40.48
Net Income, 2 Yr. CAGR %	45.97	31.61	16.08	-15.57	40.48
Normalized Net Income, 2 Yr. CAGR %	59.93	24.04	-12.63	10.64	48.49
Diluted EPS Before Extra, 2 Yr. CAGR %	43.68	32.3	16.98	-15.87	38.99
Accounts Receivable, 2 Yr. CAGR %	-24.72	11.27	72.35	137.78	168.48
Inventory, 2 Yr. CAGR %	-2.31	3.5	1.33	11.75	22.67
Net Property, Plant and Equip., 2 Yr. CAGR %	-2.21	6.13	22.22	33.94	36.27
Total Assets, 2 Yr. CAGR %	5.13	12.79	16.23	15.89	28.37
Tangible Book Value, 2 Yr. CAGR %	14.81	16.77	16.56	12.44	27.4
Common Equity, 2 Yr. CAGR %	14.81	16.77	16.56	12.44	27.4
Cash From Operations, 2 Yr. CAGR %	4.65	9.22	-4.53	4.95	27.5
Capital Expenditures, 2 Yr. CAGR %	46.57	39.62	44.23	42.25	-14.04
Levered Free Cash Flow, 2 Yr. CAGR %	-13.08	-20.6	21.73	-27.15	-12.24
Unlevered Free Cash Flow, 2 Yr. CAGR %	-16.63	-21.74	20.47	-28.15	-6.73
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	24.55	10.67	3.8	9.24	14.55
Gross Profit, 3 Yr. CAGR %	34.94	12.57	-0.26	7.93	16.81
EBITDA, 3 Yr. CAGR %	38.09	13.15	-0.82	3.11	13.26
EBITA, 3 Yr. CAGR %	54.02	27.06	1.73	5.74	23.77
EBIT, 3 Yr. CAGR %	54.2	27.05	1.63	5.64	23.81
Earnings From Cont. Operations, 3 Yr. CAGR %	87	38.41	23.32	-3.91	28.8
Net Income, 3 Yr. CAGR %	87	38.41	23.32	-3.91	28.8
Normalized Net Income, 3 Yr. CAGR %	70.96	34.4	7.36	5.13	21.04
Diluted EPS Before Extra, 3 Yr. CAGR %	85.14	38.18	23.29	-3.29	27.41
Accounts Receivable, 3 Yr. CAGR %	-35.72	-24.33	68.8	62.91	203.66
Inventory, 3 Yr. CAGR %	28.36	-2.38	4.11	6.78	16.59
Net Property, Plant and Equip., 3 Yr. CAGR %	-5.29	2.15	14.72	25.98	35.52
Total Assets, 3 Yr. CAGR %	2.24	9.02	13.6	16.34	23.83
Tangible Book Value, 3 Yr. CAGR %	13.15	15.61	16.48	14.01	23.44
Common Equity, 3 Yr. CAGR %	13.15	15.61	16.48	14.01	23.44
Cash From Operations, 3 Yr. CAGR %	13.32	10.64	-4.2	10.85	6.21
Capital Expenditures, 3 Yr. CAGR %	22.82	37.28	49.89	34.57	8.47
Levered Free Cash Flow, 3 Yr. CAGR %	20.21	2.97	-13.53	-8.46	-7.56
Unlevered Free Cash Flow, 3 Yr. CAGR %	10.69	0.1	-14.91	-9.35	-4.35
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	22.32	22.5	14.79	11.72	10.59
Gross Profit, 5 Yr. CAGR %	24.11	30.03	17.8	13.25	10.52
EBITDA, 5 Yr. CAGR %	33.42	33.89	17.28	10.53	10.12
EBITA, 5 Yr. CAGR %	38.15	58.83	21.56	21.15	20.61
EBIT, 5 Yr. CAGR %	38.19	59.12	21.56	21.12	20.61
Earnings From Cont. Operations, 5 Yr. CAGR %	116.36	71.84	54.52	13.58	29.92
Net Income, 5 Yr. CAGR %	116.36	71.84	54.52	13.58	29.92
Normalized Net Income, 5 Yr. CAGR %	63.54	84.78	30.7	24.34	22.23
Diluted EPS Before Extra, 5 Yr. CAGR %	112.01	68.76	54.08	13.31	29.35
Accounts Receivable, 5 Yr. CAGR %	-	8.87	-4.63	19.63	103.23
Inventory, 5 Yr. CAGR %	18.22	13.76	16.78	3.04	11.17
Net Property, Plant and Equip., 5 Yr. CAGR %	-2.33	-0.88	4.88	13.84	22.9
Total Assets, 5 Yr. CAGR %	2.41	6.41	7.62	11.72	19.29
Tangible Book Value, 5 Yr. CAGR %	9.98	13.69	14.5	14.33	20.73
Common Equity, 5 Yr. CAGR %	9.98	13.69	14.5	14.33	20.73
Cash From Operations, 5 Yr. CAGR %	14.54	40.86	5.81	8.33	7.41
Capital Expenditures, 5 Yr. CAGR %	9.96	22.12	30.98	39.25	20
Levered Free Cash Flow, 5 Yr. CAGR %	10.11	39.55	20.81	-10.34	-13.02
Unlevered Free Cash Flow, 5 Yr. CAGR %	15.17	69.9	14.51	-12.34	-11.73