NASDAQ : FMST
Foremost Clean Energy Ltd. — Financial statements
Materials · Other Industrial Metals & Mining · Canada
Last price 0.5809 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 10.07M
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Financial statements
Income statement
Fiscal year April - March; amounts in CAD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cost of Revenue | 1.00K | 4.40K | ||||
| Gross Profit | -1.00K | -4.40K | ||||
| Selling, General & Admin | 3.52M | 3.18M | 3.23M | 2.39M | 2.48M | 1.12M |
| Operating Expenses | 5.05M | 4.54M | 4.10M | 3.30M | 3.29M | 3.60M |
| Operating Income | -5.05M | -4.54M | -4.10M | -3.30M | -3.30M | -3.60M |
| Interest Expense | -2.75K | -14.99K | -97.36K | -126.61K | -104.03K | -112.48K |
| Interest & Investment Income | 25.66K | 23.39K | 1.31K | 8.88K | 16.29K | |
| Earnings From Equity Investments | -26.69K | -26.69K | -105.76K | |||
| Currency Exchange Gain (Loss) | 552.00 | -15.49K | -43.50K | -36.00K | -29.42K | -5.73K |
| Other Non Operating Income (Expenses) | -2.47M | -3.72M | -1.29M | -1.02M | 744.11K | -353.29K |
| EBT Excluding Unusual Items | -7.52M | -8.29M | -5.64M | -4.48M | -2.68M | -4.06M |
| Gain (Loss) on Sale of Investments | -823.48K | 905.33K | 671.00 | -5.10K | ||
| Gain (Loss) on Sale of Assets | 3.50M | |||||
| Other Unusual Items | 5.00K | 490.16K | 2.02M | 10.00K | 139.31K | -93.66K |
| Pretax Income | -8.34M | -6.90M | -3.62M | -4.47M | 956.58K | -4.15M |
| Net Income | -8.34M | -6.90M | -3.62M | -4.47M | 956.58K | -4.15M |
| Net Income to Common | -8.34M | -6.90M | -3.62M | -4.47M | 956.58K | -4.15M |
| Shares Outstanding (Basic) | 14.44M | 13.10M | 7.51M | 4.52M | 3.84M | 3.28M |
| Shares Outstanding (Diluted) | 14.44M | 13.10M | 7.51M | 4.52M | 3.93M | 3.28M |
| EPS (Basic) | -0.58 | -0.53 | -0.48 | -0.99 | 0.25 | -1.27 |
| EPS (Diluted) | -0.58 | -0.53 | -0.48 | -0.99 | 0.24 | -1.27 |
| Free Cash Flow | -16.72M | -16.38M | -6.00M | -6.38M | -7.14M | -2.49M |
| Free Cash Flow Per Share | -1.16 | -1.25 | -0.80 | -1.41 | -1.81 | -0.76 |
| EBITDA | -4.42M | |||||
| D&A For EBITDA | 127.15K | |||||
| EBIT | -5.05M | -4.54M | -4.10M | -3.30M | -3.30M | -3.60M |
Balance sheet
Fiscal year April - March; amounts in CAD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 2.54M | 6.34M | 5.01M | 998.26K | 574.59K | 235.46K |
| Cash & Short-Term Investments | 3.55M | 6.34M | 5.01M | 998.26K | 574.59K | 235.46K |
| Accounts Receivable | 31.54K | 56.82K | ||||
| Other Receivables | 646.83K | 526.76K | 231.86K | 146.21K | 132.51K | 85.89K |
| Receivables | 646.83K | 526.76K | 231.86K | 146.21K | 164.05K | 142.71K |
| Prepaid Expenses | 295.19K | 225.43K | 123.34K | 340.74K | 56.71K | 55.95K |
| Total Current Assets | 4.49M | 7.09M | 5.36M | 1.49M | 795.35K | 434.12K |
| Property, Plant & Equipment | 32.69M | 30.65M | 21.32M | 15.09M | 12.48M | 7.19M |
| Long-Term Investments | 1.26M | 383.73K | 2.90K | 8.00K | ||
| Long-Term Accounts Receivable | 31.54K | |||||
| Other Long-Term Assets | 83.75K | 54.99K | 151.98K | 19.23K | 24.40K | 253.30K |
| Total Assets | 37.54M | 39.34M | 27.74M | 16.60M | 13.30M | 7.92M |
| Accounts Payable | 273.19K | 874.90K | 93.71K | 1.10M | 884.74K | 603.00K |
| Accrued Expenses | 423.44K | 305.62K | 212.41K | 178.46K | 423.98K | 167.81K |
| Short-Term Debt | 521.37K | 1.14M | 1.22M | 7.50K | ||
| Current Portion of Long-Term Debt | 40.00K | |||||
| Current Portion of Leases | 34.39K | 61.95K | ||||
| Current Unearned Revenue | 1.08M | 1.61M | 1.79M | 11.67K | ||
| Other Current Liabilities | 657.55K | 1.05M | 629.76K | 301.97K | 313.00K | 261.69K |
| Total Current Liabilities | 2.43M | 3.84M | 3.25M | 2.73M | 2.91M | 1.10M |
| Long-Term Debt | 40.00K | |||||
| Long-Term Leases | 34.39K | |||||
| Other Long-Term Liabilities | 656.95K | |||||
| Total Liabilities | 2.43M | 3.84M | 3.25M | 3.39M | 2.91M | 1.18M |
| Common Stock | 63.29M | 62.83M | 45.67M | 32.12M | 26.45M | 24.16M |
| Retained Earnings | -31.65M | -30.62M | -24.46M | -21.48M | -17.87M | -19.72M |
| Comprehensive Income & Other | 3.47M | 3.29M | 3.28M | 2.57M | 1.81M | 2.29M |
| Shareholders' Equity | 35.11M | 35.50M | 24.49M | 13.21M | 10.39M | 6.74M |
| Total Liabilities & Equity | 37.54M | 39.34M | 27.74M | 16.60M | 13.30M | 7.92M |
| Total Debt | 521.37K | 1.14M | 1.29M | 143.84K | ||
| Net Cash (Debt) | 3.55M | 7.60M | 4.48M | -140.26K | -716.51K | 91.61K |
| Net Cash Per Share | 0.25 | 0.58 | 0.60 | -0.03 | -0.18 | 0.03 |
| Filing Date Shares Outstanding | 17.35M | 16.49M | 11.96M | 5.48M | 3.99M | 3.79M |
| Total Common Shares Outstanding | 16.49M | 16.28M | 10.42M | 5.21M | 3.97M | 3.61M |
| Working Capital | 2.05M | 3.26M | 2.11M | -1.25M | -2.12M | -667.83K |
| Book Value Per Share | 2.13 | 2.18 | 2.35 | 2.54 | 2.62 | 1.87 |
| Tangible Book Value | 35.11M | 35.50M | 24.49M | 13.21M | 10.39M | 6.74M |
| Tangible Book Value Per Share | 2.13 | 2.18 | 2.35 | 2.54 | 2.62 | 1.87 |
Cash flow statement
Fiscal year April - March; amounts in CAD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | -8.34M | -6.90M | -3.62M | -4.47M | 956.58K | -4.15M |
| Depreciation & Amortization | 127.15K | 127.15K | ||||
| Other Amortization | 48.00K | |||||
| Loss (Gain) From Sale of Assets | -3.50M | |||||
| Loss (Gain) From Sale of Investments | 823.48K | -905.33K | -671.00 | 5.10K | ||
| Loss (Gain) on Equity Investments | 26.69K | 26.69K | 105.76K | |||
| Stock-Based Compensation | 1.40M | 1.24M | 872.88K | 910.70K | 815.43K | 2.53M |
| Other Operating Activities | -1.60M | -1.39M | -2.54M | -58.41K | -1.17M | 95.12K |
| Change in Accounts Receivable | -294.91K | -294.91K | -85.65K | -13.69K | ||
| Change in Accounts Payable | -152.44K | 600.47K | 1.26M | 148.34K | 411.75K | 400.39K |
| Change in Other Net Operating Assets | 346.47K | -96.02K | 223.48K | -308.86K | -47.39K | -272.20K |
| Operating Cash Flow | -7.66M | -7.59M | -3.78M | -3.79M | -2.48M | -1.40M |
| Capital Expenditures | -9.06M | -8.79M | -2.22M | -2.58M | -4.66M | -1.09M |
| Sale of Property, Plant & Equipment | 3.50M | |||||
| Cash Acquisitions | -656.45K | |||||
| Investment in Securities | 3.57K | |||||
| Other Investing Activities | 73.88K | 27.09K | 200.00K | 232.85K | 365.70K | 265.70K |
| Investing Cash Flow | -8.98M | -8.76M | -2.67M | -2.34M | -797.82K | -825.71K |
| Short-Term Debt Issued | 985.74K | |||||
| Total Debt Issued | 985.74K | |||||
| Short-Term Debt Repaid | -509.93K | -600.00K | -102.71K | |||
| Long-Term Debt Repaid | -35.81K | -71.63K | -71.63K | |||
| Lease Payments | -35.81K | -71.63K | -71.63K | |||
| Total Debt Repaid | -509.93K | -509.93K | -600.00K | -138.52K | -71.63K | -71.63K |
| Net Debt Issued (Repaid) | -509.93K | -509.93K | -600.00K | -138.52K | 914.12K | -71.63K |
| Issuance of Common Stock | 14.79M | 19.24M | 11.85M | 7.28M | 2.80M | 2.14M |
| Other Financing Activities | -989.68K | -1.04M | -789.48K | -582.50K | -99.62K | -1.78K |
| Financing Cash Flow | 13.29M | 17.69M | 10.46M | 6.56M | 3.61M | 2.07M |
| Net Cash Flow | -3.35M | 1.34M | 4.01M | 423.68K | 339.13K | -156.76K |
| Free Cash Flow | -16.72M | -16.38M | -6.00M | -6.38M | -7.14M | -2.49M |
| Free Cash Flow Per Share | -1.16 | -1.25 | -0.80 | -1.41 | -1.81 | -0.76 |
| Levered Free Cash Flow | -10.74M | -9.56M | -2.70M | -4.11M | -5.36M | -907.00K |
| Unlevered Free Cash Flow | -10.74M | -9.55M | -2.64M | -4.03M | -5.29M | -836.71K |
| Free Cash Flow After Leases | -16.72M | -16.38M | -6.00M | -6.41M | -7.21M | -2.57M |
| Cash Interest Paid | 21.43K | 113.92K | 102.09K | 88.80K | ||
| Change in Working Capital | -100.88K | 209.54K | 1.40M | -174.21K | 364.36K | 128.18K |
Ratios
Fiscal year April - March; amounts in CAD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 10.07M | 28.58M | 8.70M | 12.38M | 24.94M | 43.36M |
| Enterprise Value | 7.53M | 24.40M | 4.64M | 12.15M | 24.20M | 43.15M |
| Last Close Price | 0.58 | 1.76 | 0.81 | 2.40 | 6.42 | 12.29 |
| PE Ratio | 35.27 | |||||
| PB Ratio | 0.41 | 1.12 | 0.51 | 1.27 | 3.25 | 8.03 |
| P/TBV Ratio | 0.41 | 1.12 | 0.51 | 1.27 | 3.25 | 8.03 |
| Debt / Equity Ratio | 0.02 | 0.09 | 0.12 | 0.02 | ||
| Net Debt / Equity Ratio | -0.10 | -0.21 | -0.18 | 0.01 | 0.07 | -0.01 |
| Net Debt / EBITDA Ratio | 1.72 | |||||
| Net Debt / FCF Ratio | 0.21 | 0.46 | 0.75 | -0.02 | -0.10 | 0.04 |
| Quick Ratio | 1.72 | 1.79 | 1.61 | 0.42 | 0.25 | 0.34 |
| Current Ratio | 1.84 | 1.85 | 1.65 | 0.54 | 0.27 | 0.39 |
| Return on Equity (ROE) | -25.67% | -22.99% | -19.18% | -37.90% | 11.17% | -66.46% |
| Return on Assets (ROA) | -8.98% | -8.47% | -11.56% | -13.80% | -19.42% | -30.34% |
| Return on Capital Employed (ROCE) | -14.40% | -12.80% | -16.70% | -23.80% | -31.70% | -52.80% |
| Earnings Yield | -71.42% | -17.29% | -28.91% | -26.67% | 2.83% | -7.67% |
| FCF Yield | -118.66% | -41.06% | -47.96% | -38.02% | -21.16% | -4.61% |
| Buyback Yield / Dilution | -62.12% | -74.37% | -66.26% | -14.89% | -20.02% | -17.13% |