TMC the metals company inc.

TMC

$4.40

-4.14%

2026-09-03 16:00:00 EDT-$0.19

Basic Materials

Other Precious Metals

NASDAQ

Active Trading

TMC the metals company Inc., a deep-sea minerals exploration company, focuses on the collection, processing, and refining of polymetallic nodules found on ...

Price Action of TMC

$4.40

-4.14%-$0.19

High—

Low—

52W High-61.2%

Rel. vol—

Interval

Range6.5h

Volume—SMA5SMA10

—

TMC the metals company Inc. (Nasdaq: TMC) is developing a deep-sea approach to supplying critical metals that are commonly used in electric vehicles and low-carbon energy technologies. The company’s core concept centers on locating polymetallic nodules on the seafloor, then collecting, processing, and refining these nodules to produce metal-bearing outputs ...TMC the metals company Inc. (Nasdaq: TMC) is developing a deep-sea approach to supplying critical metals that are commonly used in electric vehicles and low-carbon energy technologies. The company’s core concept centers on locating polymetallic nodules on the seafloor, then collecting, processing, and refining these nodules to produce metal-bearing outputs aligned with markets such as EV batteries and components, energy storage, and manganese alloy production for steel. From an operational perspective, TMC holds exploration and commercial rights in polymetallic nodule contract areas within the Clarion Clipperton Zone of the Pacific Ocean. The strategic goal is to scale extraction and processing capabilities to turn an estimated resource into a commercially usable supply chain. This is typically capital-intensive and involves long development timelines, including marine operations, resource assessment, processing system development, and regulatory/environmental considerations associated with seabed mining. In terms of products and services, TMC is not described as selling consumer products; rather, it is a developer of lower-impact critical metals from seafloor polymetallic nodules. The “product” is effectively the planned refined metal feedstocks derived from the collected nodules—metals such as nickel, cobalt, copper, and manganese. These metals are essential inputs for EV-related manufacturing (for example, battery materials and related electrical infrastructure), and manganese is also a key input into steel and steel alloys. On financial and cost structure considerations, the provided financial snapshot indicates the company is not yet at sustained profitability (e.g., negative return metrics and negative free cash flow measures in the TTM snapshot). This pattern is consistent with companies in heavy-development phases where significant R&D, engineering, permitting, and expedition/processing pilots require ongoing funding. Key working-capital figures are shown as positive, but the broader profitability ratios and cash flow yields suggest that value creation is still in the scaling and commercialization stage rather than mature operations. Key people include Gerard Barron, who serves as Co-Founder, Chairman, and CEO (in role since 2017). TMC’s board and executive leadership are expected to focus on advancing technology, marine operations, and commercialization pathways, including potential partnerships and offtake arrangements with industrial customers seeking long-term supplies of critical metals. Overall, TMC’s “wishes” and strategic priorities, as implied by its business model, are to demonstrate reliable nodule collection and processing at scale, reduce technical and operational risk, and progress toward commercialization of critical metal supply from the deep ocean while meeting environmental and regulatory expectations.ExpandCollapse

Founded

2011

Employees

CEO

Gerard Barron

Full Name

TMC the metals company inc.

Sector

Basic Materials

Industry

Other Precious Metals

ROE

948.80%

Market Cap

$1.91B

Current Ratio

1.87

WACC

14.27%

ROIC

-614.99%

Contact Information

https://metals.co

604 631 3115

1111 West Hastings Street, Vancouver, BC V6E 2J3

Key Metrics of TMC

Snapshot

Latest / TTM · 6 periods

Market Cap

$1.91B

ROCE

-160.5%

EV / EBITDA

-5.98x

-45.9% YoY

FCF Yield

-2.3%

-0.5% YoY

Cash Conversion Cycle

-161144.4d

Current Ratio

1.87

Quick take

TTM —

No major risk flags in selected headline metrics.

Financial Highlights of TMC

Profitability trend

Latest / TTM · 6 periods

Gross Margin

0.0%

Net Margin

0.0%

P/E Ratio

-5.14x

n/a

Debt / Equity

0.00

n/a

Current Ratio

1.87

Dividend Yield

0.0%

Understanding

TTM —

Interest coverage is weak

Calendar of TMC

Upcoming

Sep 30, 2026In 26 days
Q3 FY2026 · Estimated results
Est. EPS $-0.07 · Revenue $0.00 · 1 analysts
Dec 30, 2026
Q4 FY2026 · Estimated results
Est. EPS $-0.07 · Revenue $0.00 · 1 analysts
Dec 31, 2026
FY2026 · Estimated annual results
Est. EPS $-0.33 · Revenue $341.30M · 3 analysts
Mar 30, 2027
Q1 FY2027 · Estimated results
Est. EPS $-0.08 · Revenue $0.00 · 1 analysts

Recent history

Aug 13, 2026
Q2 FY2026 · Results reported
EPS $-0.14 · Revenue $0.00
View filing
May 14, 2026
Q1 FY2026 · Results reported
EPS $-0.05 · Revenue $0.00
View filing
Mar 31, 2026
FY2025 · Annual results
EPS $-0.83 · Revenue $0.00
View filing
Nov 13, 2025
Q3 FY2025 · Results reported
EPS $-0.57 · Revenue $0.00
View filing
Aug 14, 2025
Q2 FY2025 · Results reported
EPS $-0.20 · Revenue $0.00
View filing
Mar 31, 2025
Q1 FY2025 · Results reported
EPS $-0.06 · Revenue $0.00

Financial Statements of TMC

5Y Trend (Revenue, Earnings, FCF)

Metric	Latest	YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.	QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).	$0	—	—
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.	$-319.8M	-290.3%	-191.9%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.	—	—	—
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).	—	—	—
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.	—	—	—
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.	$-43.1M	+2.0%	-2992.3%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.	—	—	—
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.	0.0%	+100.0%	+100.0%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.	1.98x	+1925.7%	-13.7%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.	$181.6M	+188.3%	-2.2%

Actual vs Estimate

A Dec 31Q Sep 30

Metric	Annual (A vs E)	Annual Surprise	Quarter (A vs E)	Quarter Surprise
EPS Surprise	-0.83 vs -0.50	-65.8%	-0.14 vs -0.07	-115.4%
Revenue Surprise	$0 vs $1.1B	-100.0%	—	—

Insider Transactions of TMC

Acquisitions (A)

Since May 29, 2026

Disposals (D)

Since May 29, 2026

Monthly shares of acquisitions/disposals with close price trend (shared daily price source)

Insider Trading Snapshot

Date	Executive	Title	Security	Side	Shares	Price
Jul 1, 2026	Allseas Group S.A.	10 percent owner	Common Shares	A	7,305,567	$4.66
Jun 2, 2026	May Brendan	director	Common Shares	D	20,768	$6.42
May 29, 2026	Madsbjerg Christian	director	Common Shares	A	16,528	—
May 29, 2026	Madsbjerg Christian	director	Common Shares	A	19,075	—
May 29, 2026	May Brendan	director	Common Shares	A	16,528	—

Earnings Call Transcript of TMC

1 transcript segments

Q2 2026

Unknown Speaker

Operator: Good afternoon, everyone, and thank you for participating in The Metals Company's second quarter 2026 corporate update conference call. Joining us today are The Metals Company's Chairman and Chief Executive Officer, Gerard Barron, and Chief Financial Officer, Craig Shesky. Following their remarks, we will open the call for your questions. Before we go further, I would like to turn the call over to the CFO, Craig Shesky, as he reads the company's safe harbor statement within the meaning of the Private Securities Litigation Reform Act of 1995, which provides important cautions regarding forward-looking statements and information about the use of non-GAAP measures. Craig, please go ahead. Craig Shesky: Thanks, Olivia. Today, we are going to be going through a call where certain statements may be made by the company using forward-looking assumptions and based on management's beliefs and assumptions using information available at this time. These statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. The company's actual results may differ materially from those anticipated, and except as required by law, we undertake no obligation to update any forward-looking statement. Our remarks today may also include non-GAAP financial measures. Additional details regarding these measures, including reconciliations to the most comparable GAAP measures, can be found in the slide deck being used with this call. You are welcome to follow along with the slide deck posted on our website at investors.metals.co. I will now turn the call over to our Chairman and CEO, Gerard Barron. Gerard Barron: Thank you, Craig, and thanks to all of you for joining us today. Today, we will provide an update on TMC USA's applications and the progress both projects are making under the U.S. regulatory regime. We will also discuss how Allseas is advancing the first commercial collection system from engineering into procurement, a significant step forward translating years of development and successful offshore testing into a commercial scale operation. We will talk about the American deep seabed critical mineral supply chain from offshore nodule collection and transportation to processing and refining. We will provide some detail on some exciting new partnerships that have recently been announced and the potential for additional partnerships in the coming quarters. We will discuss recent developments at the ISA and ITLOS, revisit the economics of our resource, and close with our liquidity and second-quarter financial results. I will also spend some time on the progress being made in D.C. to support this industry. As noted in our corporate update press release, the company is actively engaged in funding processes with multiple U.S. agencies named in President Trump's executive order regarding plans to build nodule processing and refining in the United States. While these processes continue confidentially, the company does …

Leadership Team of TMC

10 executives

Name	Title	Compensation	Gender	Year Born	Status
Gerard Barron	Chief Executive Officer & Chairman of the Board	USD 1,585,360	Male	1967	Active
Erika Ilves	Chief Strategy Officer	USD 1,030,229	Female	1978	Active
Craig Shesky	Chief Financial Officer	USD 963,421	Male	1985	Active
Anthony O'Sullivan	Chief Development Officer	USD 661,376	Male	1967	Active
Gregory S. Stone	Chief Ocean Scientist	—	—	1958	Active
Claude Plourde	Chief Accounting Officer	—	Male	—	Active
Dan Porras	Head Of Communications & Brand	—	Male	—	Active
Ryan Coombes	General Counsel & Corporate Secretary	—	Male	—	Active
Jordan Gailey	People & Business Manager	—	Female	—	Active
Andy Jones	Chief Technology Officer	—	Male	—	Active

Recent News of TMC

Fool - Investing News8/27/2026Neutral

Is It Too Late to Buy TMC The Metals Company After Its 32% Rally?

TMC stock is rallying after a decent second-quarter. But investors should keep an eye on this one development.

The Motley Fool8/25/2026Neutral

Is The Metals Company a Potential Millionaire-Maker Stock?

The Metals Company is a bet on a new industry. The opportunity comes with equally significant uncertainty.

The Motley Fool8/23/2026Neutral

The Metals Company Is Riding the Critical Metals Boom. Here's Why I Still Wouldn't Touch It.

The Metals Company holds an interest in a vast part of the Pacific seabed that could hold 1.6 billion tonnes of polymetallic nodules. The company is taking a unique path to regulatory approval to start extracting these resources.

The Motley Fool8/23/2026Neutral

MP Materials vs. The Metals Company: Which Rare-Earth Bet Actually Pays Off First?

China controls about 70% of rare-earth extraction and 90% of rare-earth processing. U.S. policymakers are taking steps to push to boost domestic capabilities.

GlobeNewsWire8/19/2026Neutral

NOAA Publishes TMC USA's Consolidated Application for an Exploration License and Commercial Recovery Permit for TMC USA-A in the Federal Register

NEW YORK, Aug. 19, 2026 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC”, “The Metals Company” or the “Company”), a leading developer of the world's largest resource of critical metals essential to energy, defense, manufacturing and infrastructure, today announced that the National Oceanic and Atmospheric Administration (“NOAA”) published in the Federal Register the consolidated application submitted by the Company's subsidiary, The Metals Company USA LLC (“TMC USA”), for an exploration license and commercial recovery permit for TMC USA-A under the Deep Seabed Hard Mineral Resources Act (“DSHMRA”) and its implementing regulations.

Historical Employee Count of TMC

Current

Change

+2.13%

Minimum

Maximum

Recent Filings

Report Date	Employees	Form Type	Filing Date	SEC Filing
Dec 31, 2025	48	10-K	Mar 31, 2026	View
Dec 31, 2024	47	10-K	Mar 27, 2025	View
Dec 31, 2023	46	10-K	Mar 25, 2024	View
Dec 31, 2022	39	10-K	Mar 27, 2023	View
Dec 31, 2021	0	10-K	Mar 25, 2022	View

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TMC the metals company inc.