SequelSEC

Fortitude Gold Corp FTCO

Gold and Silver Ores · CIK 0001828377 · Fiscal year ends 1231

AnnualQuarterlyTTM
Revenue
$18.41M
Fiscal year ended 2025-12-31
Operating income
Unavailable
Fiscal year ended 2025-12-31
Free cash flow
-$14.96M
Fiscal year ended 2025-12-31

Valuation, from the filing

Public float$82.02MMarket value of stock held by non-affiliates, as stated on the cover page for 2025-06-30
Float per share$3.05Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself.
Float / net income195.3×A lower bound on the multiple, because affiliate holdings are excluded.
Float / revenue4.5×A lower bound on the multiple, because affiliate holdings are excluded.
Float / equity0.8×A lower bound on the multiple, because affiliate holdings are excluded.

Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.

Valuation over time

195.3× earnings today, against a median of 8.5× across 4 years on record. Above its own history.

Float measuredPublic floatFloat / net income
2025-06-30$82.02M195.3×
2023-06-30$143.00M8.4×
2022-06-30$127.00M8.6×
2021-06-30$138.00M7.7×

Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.

How this compares in its industry

Percentile among the Gold and Silver Ores filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.

MeasureReportedPercentile
Gross margin54.1%88th
Revenue YoY growth-50.7%25th
SBC / revenue9.1%75th
Net margin2.3%62th
Current ratio4.26x61th
CapEx / revenue10.5%50th
Effective tax rate4.5%50th

Fortitude Gold Corp (FTCO) reported revenue of $18.41M and net income of $420.00K for the fiscal year ended 2025-12-31. This page shows 6 annual periods of income statement, balance sheet and cash flow figures normalized from Fortitude Gold Corp’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Gold and Silver Ores.

Income

Fortitude Gold Corp income by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-31
Revenue$18.41M$37.33M$73.07M$74.38M$82.11M$53.97M
Cost of revenueUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Gross profitUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Operating incomeUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Net income$420.00K-$2.04M$17.02M$14.68M$17.87M$10.22M
Research & developmentUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Weighted-average diluted sharesshares 24.57Mshares 24.16Mshares 24.21Mshares 24.20Mshares 24.11Mshares 21.21M
Pretax income$440.00K$1.40M$20.97M$17.96M$23.54M$10.42M
Income tax expense$20.00K$3.44M$3.96M$3.28M$5.67M$203.00K
Diluted EPS$0.02$-0.08$0.70$0.61$0.74$0.48
Selling, general & administrativeUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
General & administrative$4.92M$5.94M$5.00M$5.79M$11.44M$2.88M
Selling & marketingUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Balance

Fortitude Gold Corp balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-31
Cash & equivalents$4.66M$27.08M$48.68M$45.05M$40.02M$27.77M
Total assets$136.18M$122.10M$135.00M$131.16M$122.43M$113.02M
Current assets$38.62M$41.86M$75.27M$93.65M$81.32M$52.93M
Total liabilities$31.81M$14.01M$14.45M$15.40M$10.08M$15.06M
Current liabilities$9.07M$4.13M$7.95M$9.53M$5.31M$11.07M
Total equity incl. NCI$104.37M$108.09M$120.54M$115.76M$112.35M$97.97M
Temporary (mezzanine) equityUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Inventory$29.31M$11.64M$23.85M$47.16M$37.55M$23.05M
Accounts receivableUnavailableUnavailable$42.00KUnavailable$238.00K$145.00K
GoodwillUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Long-term debtUnavailableUnavailableUnavailableUnavailable$100.00K$800.00K
Accounts payable$1.47M$2.64M$3.88M$2.52M$2.13M$1.72M

Cash flow

Fortitude Gold Corp cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-31
Operating cash flow-$13.02M-$6.64M$22.98M$28.57M$24.66M$13.00M
Capital expenditures$1.94M$3.46M$5.42M$11.96M$4.55M$6.49M
Investing cash flow-$1.90M-$3.43M-$6.85M-$11.96M-$4.55M-$6.49M
Financing cash flow-$7.50M-$11.52M-$12.50M-$11.58M-$7.88M$20.39M
Net change in cash-$22.43M-$21.60M$3.62M$5.04M$12.24M$26.91M
Stock-based compensation$1.68M$1.11M$230.00K$192.00K$3.40MUnavailable
Common dividends paid$5.82M$11.60M$12.52M$11.53M$7.31MUnavailable
Common share repurchasesUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Depreciation & amortization$2.45M$6.06M$11.66M$13.43M$14.86M$10.38M

Derived

Fortitude Gold Corp derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-31
Free cash flow-$14.96M-$10.10M$17.55M$16.61M$20.12M$6.52M
Gross margin54.1%49.1%56.4%47.6%49.4%30.0%
Operating marginUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
FCF margin-81.3%-27.1%24.0%22.3%24.5%12.1%
SBC / revenue9.1%3.0%0.3%0.3%4.1%Unavailable
Current ratio4.26x10.13x9.46x9.82x15.31x4.78x
Revenue YoY growth-50.7%-48.9%-1.8%-9.4%52.1%Unavailable
Net margin2.3%-5.5%23.3%19.7%21.8%18.9%
R&D / revenueUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
CapEx / revenue10.5%9.3%7.4%16.1%5.5%12.0%
Long-term debt / equityUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Effective tax rate4.5%246.0%18.9%18.2%24.1%1.9%

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open FTCO in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-08-04View SEC filing
10-Q · Filed 2026-05-11View SEC filing
10-K · Filed 2026-03-03View SEC filing
10-Q · Filed 2025-11-04View SEC filing
10-Q · Filed 2025-08-05View SEC filing
10-Q · Filed 2025-04-29View SEC filing

Companies in the same industry

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Reconciliation checks needing review

6 periods on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.

gross profit bridgeinconsistent2025-12-31

Withheld: cost revenue, gross profit could not be reconciled with the rest of this filer’s statement.

gross profit bridgeinconsistent2024-12-31

Withheld: cost revenue, gross profit could not be reconciled with the rest of this filer’s statement.

gross profit bridgeinconsistent2023-12-31

Withheld: cost revenue, gross profit could not be reconciled with the rest of this filer’s statement.

gross profit bridgeinconsistent2022-12-31

Withheld: cost revenue, gross profit could not be reconciled with the rest of this filer’s statement.

gross profit bridgeinconsistent2021-12-31

Withheld: cost revenue, gross profit could not be reconciled with the rest of this filer’s statement.

gross profit bridgeinconsistent2020-12-31

Withheld: cost revenue, gross profit could not be reconciled with the rest of this filer’s statement.