Titan America SA key statistics and ratios

In fiscal 2025, Titan America SA had return on equity of 20.8%, an operating margin of 16.1%, debt equal to 38.3% of equity and a current ratio of 3.03. 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.

Titan America SA: financial ratios, annual
Fiscal year	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	16.2%	22.8%	25.5%	26.1%
Operating margin	7.1%	14.2%	15.4%	16.1%
Net margin	4.6%	9.8%	10.2%	11.1%
Free-cash-flow margin	3.9%	6.9%	6.9%	8.1%
Return on equity	10.6%	23.7%	22.6%	20.8%
Return on assets	—	10.4%	10.8%	10.7%
Asset turnover	—	1.06	1.07	0.96
Current ratio	—	0.76	1.61	3.03
Debt to equity	0.0%	47.8%	52.2%	38.3%
Interest cover (operating income ÷ interest)	47.6x	74.1x	66.2x	66.3x
Effective tax rate	21.3%	23.3%	25.7%	24.3%
Capital spending as % of revenue	9.2%	7.4%	8.3%	9.6%
Free cash flow ÷ net income	84.5%	70.8%	67.8%	72.7%
Dividends ÷ net income	0.0%	21.8%	51.2%	0.0%
Dividends and buybacks ÷ free cash flow	0.0%	30.7%	121.4%	0.0%

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

4 of 6 checks passed · December 31, 2025

What it owns · $1.9bn

Short-term assets $610mLonger-term assets $1.3bn

What it owes, and who funded it · $1.9bn

Short-term liabilities $201mLonger-term liabilities $659mShareholders' equity $1.0bn

Short-term assets cover short-term liabilities $610m of assets due within a year against $201m of liabilities due within a year.
Short-term assets cover long-term liabilities $610m short-term assets against $659m of longer-dated liabilities.
More cash than debt $212m of cash against $396m of debt.
Debt below 40% of shareholders' equity Debt is 38% of equity.
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 $295m of operating cash flow against $396m of debt.
Operating profit covers interest at least five times over Operating income of $268m against $4m of interest.

From Titan America SA'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 Titan America SA'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 Titan America SA.