Symbols / TMC $4.55 -0.87% TMC the metals company Inc.

Basic Materials • Other Industrial Metals & Mining • Canada • NMS
TMC Chart
About

TMC the metals company Inc., a deep-sea minerals exploration company, focuses on the collection, processing, and refining of polymetallic nodules found on the seafloor in California. It primarily explores for nickel, cobalt, copper, and manganese products. The company holds exploration and commercial rights in two polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean. Its products are used in electric vehicles (EV) and energy storage markets; manganese alloy production required for steel production; and EV wiring, energy transmission, and other applications. The company was founded in 2011 and is based in Vancouver, Canada.

Fundamentals
Scroll to Statements
Sector Basic Materials Industry Other Industrial Metals Market Cap 2.48B
Enterprise Value 1.82B Income -319.84M Sales —
Book/sh -0.08 Cash/sh 0.28 Dividend Yield —
Payout 0.00% Employees — IPO —
P/E — Forward P/E -24.59 PEG —
P/S — P/B -57.59 P/C —
EV/EBITDA -13.04 EV/Sales — Quick Ratio 2.03
Current Ratio 2.03 Debt/Eq — LT Debt/Eq —
EPS (ttm) -0.83 EPS next Y -0.18 EPS Growth —
Revenue Growth — Earnings 2026-05-13 ROA -71.56%
ROE — ROIC — Gross Margin 0.00%
Oper. Margin 0.00% Profit Margin 0.00% Shs Outstand 422.97M
Shs Float 229.87M Short Float 10.54% Short Ratio 6.59
Short Interest — 52W High 11.35 52W Low 1.60
Beta 2.00 Avg Volume 8.01M Volume 589.91K
Target Price $10.60 Recom Strong_buy Prev Close $4.59
Price $4.55 Change -0.87%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$10.60
Mean price target
2. Current target
$4.56
Latest analyst target
3. DCF / Fair value
$1.05
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$4.56
Low
$8.00
High
$12.25
Mean
$10.60

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-31 main Wedbush Outperform → Outperform $8
2026-01-23 main HC Wainwright & Co. Buy → Buy $12
2026-01-22 reit Wedbush Outperform → Outperform $11
2025-11-14 main HC Wainwright & Co. Buy → Buy $8
2025-08-18 reit HC Wainwright & Co. Buy → Buy $7
2025-08-06 main HC Wainwright & Co. Buy → Buy $7
2025-06-25 up Wedbush Neutral → Outperform $11
2025-05-20 init HC Wainwright & Co. — → Buy $6
2025-05-16 reit Wedbush Neutral → Neutral $6
2025-03-28 reit Wedbush Neutral → Neutral $4
2025-01-15 init Alliance Global Partners — → Buy $4
2024-05-16 reit Wedbush Neutral → Neutral $4
2023-08-15 reit Wedbush Neutral → Neutral $4
2023-07-10 init ThinkEquity — → Buy $6
2023-05-12 reit Wedbush Neutral → Neutral $3
2021-11-24 init Wedbush — → Neutral $5
2021-11-11 init Benchmark — → Hold —
News
RSS: Latest TMC news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-03-26 SHESKY CRAIG Chief Financial Officer — 345,619 $4.53 $1,581,170
2026-03-20 SHESKY CRAIG Chief Financial Officer — 562,539 — —
2026-02-10 SHESKY CRAIG Chief Financial Officer — 63,204 $0.65 $41,083
2026-02-06 KARKAR ANDREI Director and Beneficial Owner of more than 10% of a Class of Security — 31,602 $0.65 $20,541
2026-02-06 MADSBJERG CHRISTIAN Director — 43,180 $0.52 $26,562
2026-02-03 KARKAR ANDREI Director and Beneficial Owner of more than 10% of a Class of Security — 63,682 $0.52 $33,115
2026-01-08 GREIG ANDREW CARLYLE Director — 622,111 $0.52 $1,531,782
2025-12-02 O'SULLIVAN ANTHONY Officer — 100,000 $6.51 $664,000
2025-09-24 ILVES ERIKA Officer — 1,614,892 $0.65 $1,049,680
2025-09-23 ILVES ERIKA Officer — 2,000,000 $0.00 $0
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
0.00
0.00
0.00
0.00
Operating Revenue
0.00
0.00
0.00
0.00
Operating Expense
140.05
+72.30%
81.29
+12.29%
72.39
-58.43%
174.12
Selling General And Administration
99.77
+225.58%
30.64
+35.95%
22.54
-23.64%
29.52
General And Administrative Expense
99.77
+225.58%
30.64
+35.95%
22.54
-23.64%
29.52
Salaries And Wages
80.62
+390.97%
16.42
+66.01%
9.89
-35.37%
15.30
Other Gand A
19.16
+34.67%
14.22
+12.45%
12.65
-11.00%
14.21
Other Operating Expenses
40.28
-20.46%
50.64
+1.59%
49.85
-65.53%
144.60
Total Expenses
140.05
+72.30%
81.29
+12.29%
72.39
-58.43%
174.12
Operating Income
-140.05
-72.30%
-81.29
-12.29%
-72.39
+58.43%
-174.12
Total Operating Income As Reported
-140.05
-72.30%
-81.29
-12.29%
-72.39
+58.43%
-174.12
EBITDA
-316.23
-300.64%
-78.93
-8.72%
-72.60
+57.41%
-170.47
Normalized EBITDA
-267.72
-230.62%
-80.97
-13.56%
-71.30
+58.69%
-172.59
Reconciled Depreciation
0.25
-30.39%
0.36
+0.56%
0.36
-13.88%
0.42
EBIT
-316.49
-299.13%
-79.29
-8.68%
-72.96
+57.31%
-170.89
Total Unusual Items
-48.51
-2473.34%
2.04
+257.72%
-1.30
-161.16%
2.12
Total Unusual Items Excluding Goodwill
-48.51
-2473.34%
2.04
+257.72%
-1.30
-161.16%
2.12
Special Income Charges
5.65
+2938.69%
-0.20
0.00
—
Other Special Charges
-5.65
-2938.69%
0.20
—
—
Net Income
-319.84
-290.32%
-81.94
-11.06%
-73.78
+56.84%
-170.96
Pretax Income
-319.70
-290.38%
-81.89
-11.06%
-73.74
+56.85%
-170.89
Net Non Operating Interest Income Expense
-0.42
+82.61%
-2.43
-570.16%
0.52
-53.56%
1.11
Interest Expense Non Operating
3.21
+23.56%
2.60
+233.16%
0.78
0.00
Net Interest Income
-0.42
+82.61%
-2.43
-570.16%
0.52
-53.56%
1.11
Interest Expense
3.21
+23.56%
2.60
+233.16%
0.78
0.00
Interest Income Non Operating
2.79
+1486.93%
0.18
-86.43%
1.30
+16.74%
1.11
Interest Income
2.79
+1486.93%
0.18
-86.43%
1.30
+16.74%
1.11
Other Income Expense
-179.22
-9958.31%
1.82
+197.38%
-1.87
-188.11%
2.12
Other Non Operating Income Expenses
-131.00
—
—
—
Gain On Sale Of Security
-54.16
-2514.62%
2.24
+273.07%
-1.30
-161.16%
2.12
Tax Provision
0.14
+200.00%
0.05
+17.07%
0.04
-46.75%
0.08
Tax Rate For Calcs
0.00
+0.00%
0.00
-62.50%
0.00
+52.61%
0.00
Tax Effect Of Unusual Items
-7.28
-2473.34%
0.31
+159.14%
-0.52
-193.34%
0.56
Net Income Including Noncontrolling Interests
-319.84
-290.32%
-81.94
-11.06%
-73.78
+56.84%
-170.96
Net Income From Continuing Operation Net Minority Interest
-319.84
-290.32%
-81.94
-11.06%
-73.78
+56.84%
-170.96
Net Income From Continuing And Discontinued Operation
-319.84
-290.32%
-81.94
-11.06%
-73.78
+56.84%
-170.96
Net Income Continuous Operations
-319.84
-290.32%
-81.94
-11.06%
-73.78
+56.84%
-170.96
Normalized Income
-278.61
-232.94%
-83.68
-14.63%
-73.00
+57.69%
-172.53
Net Income Common Stockholders
-319.84
-290.32%
-81.94
-11.06%
-73.78
+56.84%
-170.96
Diluted EPS
-0.83
-232.00%
-0.25
+3.85%
-0.26
+63.38%
-0.71
Basic EPS
-0.83
-232.00%
-0.25
+3.85%
-0.26
+63.38%
-0.71
Basic Average Shares
384.51
+19.46%
321.88
+11.51%
288.64
+20.33%
239.87
Diluted Average Shares
384.51
+19.46%
321.88
+11.51%
288.64
+20.33%
239.87
Diluted NI Availto Com Stockholders
-319.84
-290.32%
-81.94
-11.06%
-73.78
+56.84%
-170.96
Earnings From Equity Interest
0.29
+226.99%
-0.23
+60.42%
-0.57
0.00
Total Other Finance Cost
—
—
—
-1.11
Line Item Trend 2023-12-31
Total Assets
68.90
Current Assets
8.82
Cash Cash Equivalents And Short Term Investments
6.84
Cash And Cash Equivalents
6.84
Cash Financial
6.84
Receivables
0.47
Taxes Receivable
0.47
Prepaid Assets
1.51
Total Non Current Assets
60.08
Net PPE
50.00
Gross PPE
52.16
Accumulated Depreciation
-2.16
Machinery Furniture Equipment
0.02
Other Properties
9.02
Goodwill And Other Intangible Assets
1.64
Other Intangible Assets
1.64
Investments And Advances
8.43
Other Non Current Assets
—
Total Liabilities Net Minority Interest
57.98
Current Liabilities
31.33
Payables And Accrued Expenses
31.33
Payables
—
Accounts Payable
—
Current Accrued Expenses
—
Current Debt And Capital Lease Obligation
—
Current Debt
—
Other Current Borrowings
—
Current Deferred Liabilities
—
Other Current Liabilities
—
Total Non Current Liabilities Net Minority Interest
26.64
Non Current Deferred Liabilities
10.68
Non Current Deferred Taxes Liabilities
10.68
Other Non Current Liabilities
14.00
Stockholders Equity
10.92
Common Stock Equity
10.92
Capital Stock
438.24
Common Stock
438.24
Preferred Stock
—
Share Issued
306.56
Ordinary Shares Number
306.56
Treasury Shares Number
0.00
Additional Paid In Capital
122.80
Retained Earnings
-548.90
Gains Losses Not Affecting Retained Earnings
-1.22
Other Equity Adjustments
-1.22
Total Equity Gross Minority Interest
10.92
Total Capitalization
10.92
Working Capital
-22.51
Invested Capital
10.92
Total Debt
—
Net Debt
—
Net Tangible Assets
9.28
Tangible Book Value
9.28
Derivative Product Liabilities
1.97
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
-42.85
+1.42%
-43.47
+27.03%
-59.57
+10.56%
-66.60
Cash Flow From Continuing Operating Activities
-42.85
+1.42%
-43.47
+27.03%
-59.57
+10.56%
-66.60
Net Income From Continuing Operations
-319.84
-290.32%
-81.94
-11.06%
-73.78
+56.84%
-170.96
Depreciation Amortization Depletion
0.25
-30.39%
0.36
+0.56%
0.36
-13.88%
0.42
Depreciation
—
—
0.36
-13.88%
0.42
Amortization Cash Flow
0.25
-30.39%
0.36
+0.56%
0.36
-13.88%
0.42
Depreciation And Amortization
0.25
-30.39%
0.36
+0.56%
0.36
-13.88%
0.42
Amortization Of Intangibles
0.25
-30.39%
0.36
+0.56%
0.36
-13.88%
0.42
Other Non Cash Items
132.91
+5169.90%
2.52
+217.23%
0.80
—
Stock Based Compensation
96.67
+281.91%
25.31
+104.80%
12.36
-38.44%
20.08
Operating Gains Losses
48.04
+2440.09%
-2.05
-236.32%
1.51
-97.78%
67.70
Gain Loss On Investment Securities
50.49
+4877.20%
-1.06
-207.20%
0.99
-98.54%
67.76
Net Foreign Currency Exchange Gain Loss
3.48
+385.02%
-1.22
-2296.08%
-0.05
+3.77%
-0.05
Change In Working Capital
0.04
-99.71%
12.40
+1625.71%
-0.81
-105.03%
16.16
Change In Receivables
-1.20
-1043.31%
0.13
-83.02%
0.75
-22.08%
0.96
Change In Payables And Accrued Expense
1.23
-89.95%
12.28
+886.48%
-1.56
-110.27%
15.20
Investing Cash Flow
0.45
+186.80%
-0.52
+10.90%
-0.58
+50.56%
-1.17
Cash Flow From Continuing Investing Activities
0.45
+186.80%
-0.52
+10.90%
-0.58
+50.56%
-1.17
Net PPE Purchase And Sale
-0.24
+52.43%
-0.52
+10.90%
-0.58
+50.56%
-1.17
Purchase Of PPE
-0.24
+52.43%
-0.52
+10.90%
-0.58
+50.56%
-1.17
Capital Expenditure
-0.24
+52.43%
-0.52
+10.90%
-0.58
+50.56%
-1.17
Net Business Purchase And Sale
—
—
—
0.00
Purchase Of Business
—
—
—
0.00
Gain Loss On Sale Of Business
-5.65
0.00
—
—
Financing Cash Flow
156.59
+284.86%
40.69
+102.76%
20.07
-32.49%
29.72
Cash Flow From Continuing Financing Activities
156.59
+284.86%
40.69
+102.76%
20.07
-32.49%
29.72
Net Issuance Payments Of Debt
-11.78
-200.00%
11.78
0.00
0.00
Issuance Of Debt
0.00
-100.00%
13.78
0.00
0.00
Repayment Of Debt
-11.78
-488.75%
-2.00
0.00
—
Long Term Debt Issuance
0.00
-100.00%
4.28
0.00
0.00
Net Long Term Debt Issuance
0.00
-100.00%
4.28
0.00
0.00
Short Term Debt Issuance
0.00
-100.00%
9.50
0.00
—
Short Term Debt Payments
-11.78
-488.75%
-2.00
0.00
—
Net Short Term Debt Issuance
-11.78
-257.00%
7.50
0.00
—
Net Common Stock Issuance
141.90
+393.30%
28.77
+80.32%
15.95
-47.52%
30.40
Proceeds From Stock Option Exercised
27.19
+5316.73%
0.50
+70.17%
0.29
+55.26%
0.19
Net Other Financing Charges
-0.73
-105.60%
-0.36
-109.35%
3.82
+540.37%
-0.87
Changes In Cash
114.18
+3563.18%
-3.30
+91.77%
-40.09
-5.35%
-38.05
Effect Of Exchange Rate Changes
-0.03
+56.92%
-0.07
-227.45%
0.05
-3.77%
0.05
Beginning Cash Position
3.48
-49.14%
6.84
-85.40%
46.88
-44.77%
84.87
End Cash Position
117.63
+3280.26%
3.48
-49.14%
6.84
-85.40%
46.88
Free Cash Flow
-43.10
+2.02%
-43.98
+26.88%
-60.15
+11.25%
-67.77
Common Stock Issuance
141.90
+393.30%
28.77
+80.32%
15.95
-47.52%
30.40
Dividends Received CFI
0.69
0.00
—
—
Earnings Losses From Equity Investments
-0.29
-226.99%
0.23
-60.42%
0.57
0.00
Interest Paid CFO
-0.82
-1027.40%
-0.07
0.00
—
Issuance Of Capital Stock
141.90
+393.30%
28.77
+80.32%
15.95
-47.52%
30.40
Taxes Refund Paid
-0.09
-173.53%
-0.03
—
—
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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