Lifezone Metals Ltd key statistics and ratios

In fiscal 2025, Lifezone Metals Ltd had return on equity of -16.7%, an operating margin of -1742.2%, debt equal to 0.0% of equity and a current ratio of 0.46. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Lifezone Metals Ltd: financial ratios, annual
Fiscal year	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	100.0%	100.0%	49.0%	38.2%	49.5%
Operating margin	−861.6%	−877.5%	<−999%	<−999%	<−999%
Net margin	−860.3%	−805.6%	<−999%	<−999%	<−999%
Return on equity	−33.4%	−39.8%	—	−44.6%	−16.7%
Return on assets	−29.1%	−29.7%	−304.2%	−31.0%	−8.2%
Asset turnover	0.03	0.04	0.01	0.00	0.01
Current ratio	—	4.58	4.30	0.57	0.46
Debt to equity	0.0%	0.0%	0.0%	0.0%	0.0%
Interest cover (operating income ÷ interest)	n/m	n/m	n/m	n/m	n/m

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

0 of 3 checks passed · December 31, 2025

What it owns · $176m

Short-term assets $27mLonger-term assets $148m

What it owes, and who funded it · $177m

Short-term liabilities $59mLonger-term liabilities $44mShareholders' equity $74m

Short-term assets cover short-term liabilities $27m of assets due within a year against $59m of liabilities due within a year.
Short-term assets cover long-term liabilities $27m short-term assets against $44m of longer-dated liabilities.
More cash than debt Cash or debt not separately reported. Not assessable.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
Operating profit covers interest at least five times over Operating income of −$18m against $10m of interest.

From Lifezone Metals Ltd's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Lifezone Metals Ltd's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Lifezone Metals Ltd.