TMC Stock Analysis: TMC the metals | NASDAQ
Other Industrial Metals & Mining | NASDAQ, USA | Market Cap: 1.663m USD | 12M Return: -64.2% | CA87261Y1060 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 16.6M
Qual. Beats: 0
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 6.2 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
TMC the metals company Inc. is a deep-sea minerals exploration company focused on collecting, processing, and refining polymetallic nodules-rock deposits on the ocean floor containing multiple metals-within two contract areas in the Clarion Clipperton Zone of the Pacific Ocean. Its primary target commodities are nickel, cobalt, copper, and manganese, which serve the electric vehicle, energy storage, and steel-alloy markets. The company was founded in 2011, is headquartered in Vancouver, Canada, and began trading on NASDAQ in September 2021.
The Clarion Clipperton Zone is an abyssal plain in international waters between Hawaii and Mexico, widely regarded as one of the worlds largest known accumulations of polymetallic nodules. Deep-sea nodule extraction is an emerging sector that positions companies like TMC as potential suppliers of critical battery metals independent of traditional land-based mining operations.
- ISA delays deep-sea mining commercial regulations
- Nickel and cobalt prices decline on EV demand softness
- Cash burn accelerates raising shareholder dilution risk
| Net Income: -305.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: -1.04 > 0.02 and ΔFCF/TA -46.28 > 1.0 |
| NWC/Revenue: 249.2% < 20% (prev -335.4%; Δ 584.7% < -1%) |
| CFO/TA -0.24 > 3% & CFO -43.6m > Net Income -305.6m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 1.87 > 1.5 & < 3 |
| Outstanding Shares: last quarter (433.2m) vs 12m ago 18.17% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 10.42% > 50% (prev -11.62%; Δ 22.04% > 0%) |
| Interest Coverage Ratio: -110.4 > 6 (EBIT TTM -302.6m / Interest Expense TTM 2.74m) |
| A: 0.25 (Total Current Assets 98.7m - Total Current Liabilities 52.6m) / Total Assets 180.9m |
| B: -5.71 (Retained Earnings -1.03b / Total Assets 180.9m) |
| C: -1.71 (EBIT TTM -302.6m / Avg Total Assets 177.3m) |
| D: -0.13 (Book Value of Equity -27.4m / Total Liabilities 208.3m) |
| Altman-Z'' = -28.54 = D |
As of October 11, 2026, the stock is trading at USD 3.36 with a total of 4,242,990 shares traded. Over the past week, the price has changed by -11.48%, over one month by -21.61%, over three months by -19.16% and over the past year by -64.23%.
Current recommended Stop Loss: 3.00 (which is 10.7% or 1.6 ATR below the current price).
TMC the metals has received a consensus analysts rating of 4.50. Therefore, it is recommended to buy TMC.
- StrongBuy: 3
- Buy: 3
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 10.9 | 224.4% |
P/B = 35.3471
Revenue TTM = 18.5m USD
EBIT TTM = -302.6m USD
EBITDA TTM = -302.5m USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = 145.0m USD (from shortLongTermDebtTotal, two quarters ago)
Net Debt = 46.3m USD (calculated: Debt 145.0m - CCE 98.7m)
Enterprise Value = 1.71b USD (1.66b + Debt 145.0m - CCE 98.7m)
Interest Coverage Ratio = -110.4 (Ebit TTM -302.6m / Interest Expense TTM 2.74m)
EV/FCF = -9.12x (Enterprise Value 1.71b / FCF TTM -187.5m)
FCF Yield = -10.97% (FCF TTM -187.5m / Enterprise Value 1.71b)
FCF Margin = -1.02k% (FCF TTM -187.5m / Revenue TTM 18.5m)
Net Margin = -1.65k% (Net Income TTM -305.6m / Revenue TTM 18.5m)
Gross Margin = unknown ((Revenue TTM 18.5m - Cost of Revenue TTM 214k) / Revenue TTM)
Tobins Q-Ratio = 9.45 (Enterprise Value 1.71b / Total Assets 180.9m)
Interest Expense / Debt = 1.89% (Interest Expense 2.74m / Debt 145.0m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -239.0m (EBIT -302.6m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 0.94 (Total Current Assets 98.7m / Total Current Liabilities 104.7m)
Debt / Equity = -5.28 (negative equity) (Debt 145.0m / totalStockholderEquity, last quarter -27.4m)
Debt / EBITDA = -0.15 (negative EBITDA) (Net Debt 46.3m / EBITDA -302.5m)
Debt / FCF = -0.25 (negative FCF - burning cash) (Net Debt 46.3m / FCF TTM -187.5m)
Total Stockholder Equity = -32.2m (last 4 quarters mean from totalStockholderEquity)
RoA = -172.4% (out of range, set to none)
RoE = 948.8% (negative equity) (Net Income TTM -305.6m / Total Stockholder Equity -32.2m)
RoCE = -236.0% (out of range, set to none) (EBIT -302.6m / Capital Employed (Total Assets 180.9m - Current Liab 52.6m))
RoIC = -187.8% (out of range, set to none) (NOPAT -239.0m / Invested Capital 127.3m)
WACC = 11.09% (E(1.66b)/V(1.81b) * Re(11.93%) + D(145.0m)/V(1.81b) * Rd(1.89%) * (1-Tc(0.21)))
Discount Rate = 11.93% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 67.46 | Cagr: 15.79%
[DCF] Fair Price = unknown (Cash Flow -187.5m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.55 | # QB: 0
Revenue Correlation: N/A | Revenue CAGR: N/A | SUE: 2.59 | # QB: 1
EPS current Quarter (2026-09-30): EPS=-0.05 | Chg30d=+9.09% | Revisions=+0% | Analysts=1
EPS current Year (2026-12-31): EPS=-0.40 | Chg30d=+13.98% | Revisions=+0% | GrowthEPS=+51.8% | GrowthRev=+0.0%
EPS next Year (2027-12-31): EPS=-0.24 | Chg30d=-33.33% | Revisions=-25% | GrowthEPS=+40.0% | GrowthRev=+0.0%
[Analyst] Revisions Ratio: -25% (up=0, down=1)