TMC the metals (TMCWW) Operating Income (2020 - 2025)

TMC the metals (TMCWW) reported Operating Income of -$44.7 million for Q4 2025, down 173.46% on a YoY basis from $60.9 million in Q4 2024, and up 19.25% quarter-over-quarter from -$55.4 million in Q3 2025.

TMC the metals (TMCWW) Operating Income (2020 - 2025) Analysis & Trends

TMC the metals has reported Operating Income for 6 years, with the latest figure at -$44.7 million in Q4 2025.

  • For the quarter ending Q4 2025, Operating Income fell 173.46% year-over-year to -$44.7 million; the trailing twelve-month figure through Dec 2025 stood at -$140.1 million (down 72.3% YoY), and the FY2025 full-year result was -$140.1 million, down 72.3% from the prior year.
  • Operating Income for Q4 2025 stood at -$44.7 million, up from -$55.4 million in the prior quarter.
  • The five-year high for Operating Income was $19.5 million in Q4 2023, with the low at -$55.5 million in Q1 2021.
  • Historically, Operating Income has averaged -$21.8 million across 5 years, with a median of -$20.1 million in 2024.
  • Annual changes were most pronounced in 2021 — Operating Income sank 8655.2% — and 2022, when it soared 161.44%.
  • TMC the metals' Operating Income stood at -$28.3 million in 2021, then soared by 161.44% to $17.4 million in 2022, then advanced by 12.02% to $19.5 million in 2023, then plunged by 184.03% to -$16.3 million in 2024, then slumped by 173.46% to -$44.7 million in 2025.
  • The last three Operating Income figures came in at -$44.7 million (Q4 2025), -$55.4 million (Q3 2025), and -$22.0 million (Q2 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Op. Inc (Qtr)
1 Elevra Lithium 556.97 Bn 556.92 Bn - -
2 Bhp 421.29 Bn 411.77 Bn - -
3 Skeena Resources 17.36 Bn 17.34 Bn - -
4 Ioneer 10.78 Bn 10.76 Bn - -
5 MP Materials 10.54 Bn 7.94 Bn 16.40 Mn -24.12 Mn
6 Iperionx 8.57 Bn 8.52 Bn - -
7 Materion 4.58 Bn 4.57 Bn 81.84 Mn 28.18 Mn
8 Sigma Lithium 4.36 Bn 4.36 Bn 25.57 Mn 37.35 Mn
9 Americas Gold & Silver 4.00 Bn 3.87 Bn 16.76 Mn -40.34 Mn
10 TMC the metals - - - -44.71 Mn

Historic Data

Download Data
DateValue
Dec 31, 2025 -44.71 Mn
Sep 30, 2025 -55.36 Mn
Jun 30, 2025 -21.98 Mn
Mar 31, 2025 -18.02 Mn
Dec 31, 2024 -16.35 Mn
Sep 30, 2024 -19.96 Mn
Jun 30, 2024 -20.30 Mn
Mar 31, 2024 -24.68 Mn
Dec 31, 2023 19.46 Mn
Sep 30, 2023 -12.52 Mn
Jun 30, 2023 -13.23 Mn
Mar 31, 2023 -13.38 Mn
Dec 31, 2022 17.37 Mn
Sep 30, 2022 -28.61 Mn
Jun 30, 2022 -18.33 Mn
Mar 31, 2022 -15.91 Mn
Dec 31, 2021 -28.27 Mn
Sep 30, 2021 -37.18 Mn
Jun 30, 2021 -28.67 Mn
Mar 31, 2021 -55.47 Mn