NYSE : SA
Seabridge Gold Inc. — Financial statements
Materials · Gold · Canada
Last price 24.17 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 2.62B
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Financial statements
Income statement
Fiscal year January - December; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Selling, General & Admin | 28.82M | 22.05M | 21.18M | 17.44M | 16.09M | 13.38M |
| Other Operating Expenses | 450.00K | 6.72M | 5.46M | |||
| Operating Expenses | 28.82M | 22.05M | 21.63M | 17.44M | 22.81M | 18.84M |
| Operating Income | -28.82M | -22.05M | -21.63M | -17.44M | -22.81M | -18.84M |
| Interest Expense | -2.64M | -706.00K | -616.00K | -4.29M | -3.47M | -33.00K |
| Interest & Investment Income | 4.60M | 4.75M | 3.17M | 2.79M | 176.00K | |
| Earnings From Equity Investments | -207.00K | -221.00K | ||||
| Currency Exchange Gain (Loss) | -22.06M | 25.13M | -44.61M | 9.28M | -12.87M | 22.00K |
| Other Non Operating Income (Expenses) | 8.18M | 14.40M | 6.90M | 4.18M | 1.37M | 2.37M |
| EBT Excluding Unusual Items | -40.74M | 21.53M | -56.79M | -8.27M | -35.20M | -16.52M |
| Gain (Loss) on Sale of Investments | 7.33M | -873.00K | ||||
| Gain (Loss) on Sale of Assets | 151.69M | 21.94M | ||||
| Other Unusual Items | -67.07M | -86.61M | 36.92M | -29.69M | 36.95M | 104.00K |
| Pretax Income | 51.21M | -65.08M | -19.87M | -37.96M | 874.00K | 5.53M |
| Income Tax Expense | 16.41M | -11.91M | 11.38M | -8.70M | 8.27M | 4.63M |
| Net Income | 34.81M | -53.17M | -31.25M | -29.27M | -7.39M | 895.00K |
| Net Income to Common | 34.81M | -53.17M | -31.25M | -29.27M | -7.39M | 895.00K |
| Shares Outstanding (Basic) | 105.46M | 100.89M | 88.77M | 83.00M | 80.06M | 76.41M |
| Shares Outstanding (Diluted) | 105.61M | 100.89M | 88.77M | 83.00M | 80.06M | 77.60M |
| EPS (Basic) | 0.33 | -0.53 | -0.35 | -0.35 | -0.09 | 0.01 |
| EPS (Diluted) | 0.33 | -0.53 | -0.35 | -0.35 | -0.09 | 0.01 |
| Free Cash Flow | -174.82M | -152.43M | -120.50M | -251.70M | -191.28M | -85.35M |
| Free Cash Flow Per Share | -1.66 | -1.51 | -1.36 | -3.03 | -2.39 | -1.10 |
| EBITDA | -28.59M | -21.82M | -21.25M | -17.06M | -22.66M | -18.76M |
| D&A For EBITDA | 230.00K | 232.00K | 386.00K | 385.00K | 156.00K | 83.00K |
| EBIT | -28.82M | -22.05M | -21.63M | -17.44M | -22.81M | -18.84M |
| Effective Tax Rate | 32.03% | 945.99% | 83.80% |
Balance sheet
Fiscal year January - December; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 81.47M | 117.53M | 49.81M | 82.44M | 46.15M | 11.52M |
| Short-Term Investments | 13.98M | 8.75M | 5.40M | 3.75M | 85.39M | 32.61M |
| Cash & Short-Term Investments | 95.45M | 126.28M | 55.22M | 86.19M | 131.54M | 44.13M |
| Other Receivables | 7.78M | 2.71M | 1.31M | 4.49M | 4.25M | 1.70M |
| Receivables | 7.78M | 2.71M | 1.31M | 4.49M | 4.88M | 1.70M |
| Prepaid Expenses | 1.77M | 1.62M | 3.27M | 3.97M | 8.33M | |
| Other Current Assets | 83.39M | |||||
| Total Current Assets | 103.23M | 214.15M | 58.15M | 93.95M | 140.39M | 54.16M |
| Property, Plant & Equipment | 1.44B | 1.35B | 1.25B | 1.13B | 881.50M | 662.28M |
| Long-Term Investments | 1.07M | 913.00K | 1.25M | 1.39M | 2.43M | |
| Long-Term Deferred Tax Assets | 12.41M | |||||
| Other Long-Term Assets | 204.24M | 192.54M | 142.25M | 127.30M | 72.35M | 28.27M |
| Total Assets | 1.75B | 1.77B | 1.45B | 1.35B | 1.10B | 747.74M |
| Accounts Payable | 6.40M | 13.05M | 7.61M | 27.30M | 15.69M | 10.19M |
| Accrued Expenses | 36.90M | |||||
| Current Portion of Leases | 549.00K | 366.00K | 348.00K | 373.00K | 511.00K | 90.00K |
| Current Unearned Revenue | 6.94M | 5.54M | 4.18M | 1.37M | ||
| Other Current Liabilities | 5.83M | 27.47M | 5.42M | 6.19M | 31.61M | 5.66M |
| Total Current Liabilities | 49.67M | 40.88M | 20.32M | 39.41M | 51.99M | 17.30M |
| Long-Term Debt | 561.07M | 598.52M | 562.55M | 573.89M | 263.54M | |
| Long-Term Leases | 685.00K | 1.07M | 1.00M | 1.06M | 1.11M | 182.00K |
| Long-Term Deferred Tax Liabilities | 28.75M | 20.30M | 31.93M | 23.16M | ||
| Other Long-Term Liabilities | 3.48M | 2.40M | 5.54M | 6.68M | 6.50M | 4.76M |
| Total Liabilities | 643.66M | 642.88M | 609.72M | 621.04M | 355.09M | 45.41M |
| Common Stock | 1.43B | 1.38B | 1.05B | 934.61M | 856.46M | 809.27M |
| Additional Paid-In Capital | 39.48M | 39.48M | 39.48M | 39.48M | 36.16M | 36.13M |
| Retained Earnings | -371.95M | -271.06M | -217.89M | -186.64M | -157.38M | -149.98M |
| Comprehensive Income & Other | 8.52M | -21.22M | -30.33M | -57.53M | 5.29M | 6.92M |
| Shareholders' Equity | 1.11B | 1.12B | 843.02M | 729.92M | 740.53M | 702.33M |
| Total Liabilities & Equity | 1.75B | 1.77B | 1.45B | 1.35B | 1.10B | 747.74M |
| Total Debt | 562.31M | 599.96M | 563.90M | 575.32M | 265.17M | 272.00K |
| Net Cash (Debt) | -466.85M | -473.68M | -508.68M | -489.14M | -133.63M | 43.86M |
| Net Cash Per Share | -4.42 | -4.69 | -5.73 | -5.89 | -1.67 | 0.57 |
| Filing Date Shares Outstanding | 107.87M | 107.37M | 100.22M | 86.85M | 81.64M | 79.63M |
| Total Common Shares Outstanding | 107.87M | 106.55M | 91.91M | 86.11M | 81.34M | 78.98M |
| Working Capital | 53.56M | 173.26M | 37.83M | 54.54M | 88.39M | 36.86M |
| Book Value Per Share | 10.27 | 10.56 | 9.17 | 8.48 | 9.10 | 8.89 |
| Tangible Book Value | 1.11B | 1.12B | 843.02M | 729.92M | 740.53M | 702.33M |
| Tangible Book Value Per Share | 10.27 | 10.56 | 9.17 | 8.48 | 9.10 | 8.89 |
| Construction In Progress | 409.62M | 355.15M | 277.98M | 198.07M | 121.20M | 27.06M |
Cash flow statement
Fiscal year January - December; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 34.81M | -53.17M | -31.25M | -29.27M | -7.39M | 895.00K |
| Depreciation & Amortization | 230.00K | 232.00K | 386.00K | 385.00K | 156.00K | 168.00K |
| Loss (Gain) From Sale of Assets | -151.69M | -21.94M | ||||
| Loss (Gain) From Sale of Investments | -7.33M | 873.00K | ||||
| Loss (Gain) on Equity Investments | 325.00K | 523.00K | 334.00K | 208.00K | 207.00K | 221.00K |
| Stock-Based Compensation | 6.43M | 4.72M | 3.68M | 3.27M | 3.14M | 3.51M |
| Other Operating Activities | 96.91M | 32.84M | 12.02M | 3.77M | -9.96M | 4.38M |
| Change in Accounts Receivable | -855.00K | -170.00K | -32.00K | 457.00K | -845.00K | -5.06M |
| Change in Accounts Payable | 2.77M | -432.00K | 637.00K | -357.00K | 541.00K | 6.09M |
| Operating Cash Flow | -18.40M | -15.46M | -14.22M | -21.54M | -13.29M | -11.74M |
| Capital Expenditures | -156.42M | -136.97M | -106.28M | -230.16M | -177.99M | -73.61M |
| Sale of Property, Plant & Equipment | 21.94M | |||||
| Investment in Securities | -684.00K | -684.00K | 81.69M | -52.45M | -9.34M | |
| Other Investing Activities | -5.67M | -50.29M | -14.96M | -54.42M | -50.69M | -17.64M |
| Investing Cash Flow | -162.78M | -187.94M | -121.24M | -202.90M | -281.13M | -78.64M |
| Long-Term Debt Issued | 198.82M | 282.26M | ||||
| Long-Term Debt Repaid | -477.00K | -639.00K | -666.00K | -334.00K | -77.00K | |
| Lease Payments | -454.00K | -477.00K | -639.00K | -666.00K | -334.00K | -77.00K |
| Net Debt Issued (Repaid) | -454.00K | -477.00K | -639.00K | 198.16M | 281.93M | -77.00K |
| Issuance of Common Stock | 140.22M | 272.67M | 101.90M | 62.29M | 43.90M | 84.64M |
| Financing Cash Flow | 139.77M | 272.19M | 101.27M | 260.45M | 325.83M | 84.56M |
| Foreign Exchange Rate Adjustments | 1.50M | -1.07M | 1.57M | 269.00K | 3.22M | -184.00K |
| Net Cash Flow | -39.91M | 67.71M | -32.62M | 36.29M | 34.63M | -6.00M |
| Free Cash Flow | -174.82M | -152.43M | -120.50M | -251.70M | -191.28M | -85.35M |
| Free Cash Flow Per Share | -1.66 | -1.51 | -1.36 | -3.03 | -2.39 | -1.10 |
| Levered Free Cash Flow | -152.66M | -210.64M | -130.35M | -251.40M | -155.68M | -79.73M |
| Unlevered Free Cash Flow | -151.01M | -210.20M | -129.96M | -248.72M | -153.51M | -79.71M |
| Free Cash Flow After Leases | -175.28M | -152.91M | -121.14M | -252.37M | -191.61M | -85.42M |
| Cash Interest Paid | 14.73M | |||||
| Change in Working Capital | 1.92M | -602.00K | 605.00K | 100.00K | -304.00K | 1.03M |
Ratios
Fiscal year January - December; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.64B | 3.10B | 1.04B | 1.03B | 1.01B | 1.29B |
| Enterprise Value | 2.98B | 3.44B | 1.35B | 1.30B | 1.02B | 1.25B |
| Last Close Price | 24.17 | 27.68 | 10.67 | 11.35 | 11.77 | 15.42 |
| PE Ratio | 103.50 | 1,825.31 | ||||
| PB Ratio | 3.35 | 3.77 | 1.77 | 1.87 | 1.85 | 2.33 |
| P/TBV Ratio | 3.35 | 3.77 | 1.77 | 1.87 | 1.85 | 2.33 |
| Debt / Equity Ratio | 0.51 | 0.53 | 0.67 | 0.79 | 0.36 | 0.00 |
| Net Debt / Equity Ratio | 0.42 | 0.42 | 0.60 | 0.67 | 0.18 | -0.06 |
| Net Debt / EBITDA Ratio | -16.33 | -21.71 | -23.94 | -28.68 | -5.90 | 2.34 |
| Net Debt / FCF Ratio | -2.67 | -3.11 | -4.22 | -1.94 | -0.70 | 0.51 |
| Quick Ratio | 2.08 | 3.15 | 2.78 | 2.30 | 2.61 | 2.65 |
| Current Ratio | 2.08 | 5.24 | 2.86 | 2.38 | 2.70 | 3.13 |
| Return on Equity (ROE) | 3.27% | -5.40% | -3.97% | -3.98% | -1.03% | 0.14% |
| Return on Assets (ROA) | -1.06% | -0.86% | -0.96% | -0.89% | -1.55% | -1.69% |
| Return on Invested Capital (ROIC) | -1.23% | -1.49% | -1.68% | -1.67% | 25.18% | -0.50% |
| Return on Capital Employed (ROCE) | -1.70% | -1.30% | -1.50% | -1.30% | -2.20% | -2.60% |
| Earnings Yield | 0.97% | -1.25% | -2.09% | -2.15% | -0.54% | 0.06% |
| FCF Yield | -4.78% | -3.59% | -8.08% | -18.48% | -13.99% | -5.22% |
| Buyback Yield / Dilution | -11.99% | -13.66% | -6.94% | -3.68% | -3.17% | -16.92% |