Canagold Resources Ltd Financials

CRCUF

Source SEC Filings (10-K/10-Q) Updated Apr 30, 2026 Currency USD FYE April

This page shows Canagold Resources Ltd (CRCUF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI CRCUF FY2025 2026-04-30

Equity funding is sustaining an asset-heavy business with no reported revenue as near-term liquidity has tightened sharply.

FY2025 looks less like a debt problem than a liquidity-timing problem: long-term debt was only $40K, yet the current ratio fell from 7.4x in FY2023 to 0.8x in FY2025 as cash dropped from $2.8M to $820K. That mix implies a mostly equity-funded balance sheet, but one where short-term obligations are no longer comfortably covered by on-hand cash and current assets.

Losses are turning into real cash use rather than being offset elsewhere: FY2025 net loss was -$2.6M and operating cash flow was -$817K, after a brief FY2024 easing to -$364K. The FY2024 improvement therefore looks more like a pause in burn than a durable shift to self-funding operations.

The company has been preserving and expanding its asset base through shareholder financing, not borrowing: total assets rose from $32.7M in FY2024 to $38.4M in FY2025 while financing cash inflow reached $5.0M and shares outstanding climbed to 194.0M from 174.5M. With total liabilities still only $4.5M, dilution rather than leverage appears to be the main mechanism keeping the balance sheet intact.

Financial Health Signals

Financial Profile 18/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Canagold Resources Ltd's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Leverage

100

Canagold Resources Ltd carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Canagold Resources Ltd's current ratio of 0.81 is below the typical benchmark, resulting in a score of 11/100. However, the company holds substantial cash reserves (66% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.

Returns

Canagold Resources Ltd generates a -7.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -3.7% the prior year.

Piotroski F-Score Weak

3/9

Canagold Resources Ltd passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.32x

For every $1 of reported earnings, Canagold Resources Ltd generates $0.32 in operating cash flow (-$817K OCF vs -$2.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

-$2.6M

YoY-131.1%

Canagold Resources Ltd reported -$2.6M in net income in fiscal year 2025. This represents a decrease of 131.1% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$820K

YoY+21.3%

5Y CAGR-33.1%

Canagold Resources Ltd held $820K in cash against $40K in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

194M

YoY+0.0%

5Y CAGR+22.5%

Canagold Resources Ltd had 194M shares outstanding in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-7.6%

YoY-3.9pp

5Y CAGR-0.2pp

Canagold Resources Ltd's ROE was -7.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 3.9 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

CRCUF Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$12K	N/A	N/A	N/A	N/A	N/A
Income Tax	-$148K-157.4%	$258K+706.3%	$32K-95.5%	$719K+249.0%	$206K	N/A
Net Income	-$2.6M-131.1%	-$1.1M+63.2%	-$3.0M-12.8%	-$2.7M-47.7%	-$1.8M-7.3%	-$1.7M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'18	Q3'17
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CRCUF Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$38.4M+17.3%	$32.7M-1.4%	$33.2M+1.8%	$32.6M+18.3%	$27.6M+16.7%	$23.6M
Current Assets	$1.0M-11.4%	$1.1M-78.3%	$5.3M-9.3%	$5.8M+54.6%	$3.8M-51.4%	$7.7M
Cash & Equivalents	$820K+21.3%	$676K-76.0%	$2.8M-26.5%	$3.8M+90.5%	$2.0M-67.2%	$6.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$175K-29.1%	$247K-73.3%	$924K-18.3%	$1.1M+151.3%	$450K+51.5%	$297K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$4.5M+60.9%	$2.8M+11.1%	$2.5M-20.1%	$3.1M+141.5%	$1.3M+145.2%	$526K
Current Liabilities	$1.2M+25.6%	$990K+38.7%	$714K-49.9%	$1.4M+20.5%	$1.2M+203.3%	$390K
Long-Term Debt	$40K-54.5%	$88K-42.5%	$153K-21.5%	$195K	$0-100.0%	$20K
Total Equity	$34.0M+13.3%	$30.0M-2.5%	$30.7M+4.2%	$29.5M+12.2%	$26.3M+13.8%	$23.1M
Retained Earnings	-$59.2M-4.6%	-$56.6M-2.0%	-$55.5M-5.2%	-$52.8M-3.3%	-$51.1M-3.7%	-$49.3M

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'18	Q3'17
Total Assets	$32.7M-1.4%	$33.2M+1.8%	$32.6M+18.3%	$27.6M+16.7%	$23.6M+19.6%	$19.8M+0.3%	$19.7M
Current Assets	$1.1M-78.3%	$5.3M-9.3%	$5.8M+54.6%	$3.8M-51.4%	$7.7M+49.0%	$5.2M-43.4%	$9.2M
Cash & Equivalents	$676K-76.0%	$2.8M-26.5%	$3.8M+90.5%	$2.0M-67.2%	$6.1M+42.1%	$4.3M-46.7%	$8.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$247K-73.3%	$924K-18.3%	$1.1M+151.3%	$450K+51.5%	$297K+197.0%	$100K-29.6%	$142K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.8M+11.1%	$2.5M-20.1%	$3.1M+141.5%	$1.3M+145.2%	$526K+37.3%	$383K+279.2%	$101K
Current Liabilities	$990K+38.7%	$714K-49.9%	$1.4M+20.5%	$1.2M+203.3%	$390K+57.9%	$247K+144.6%	$101K
Long-Term Debt	$88K-42.5%	$153K-21.5%	$195K	$0-100.0%	$20K	N/A	N/A
Total Equity	$30.0M-2.5%	$30.7M+4.2%	$29.5M+12.2%	$26.3M+13.8%	$23.1M+19.3%	$19.4M-1.2%	$19.6M
Retained Earnings	-$56.6M-2.0%	-$55.5M-5.2%	-$52.8M-3.3%	-$51.1M-3.7%	-$49.3M-7.0%	-$46.1M-4.4%	-$44.1M

CRCUF Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$817K-124.5%	-$364K+79.0%	-$1.7M-30.3%	-$1.3M-48.9%	-$893K+36.5%	-$1.4M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$4.2M+8.7%	-$4.6M-63.6%	-$2.8M+34.8%	-$4.3M+43.3%	-$7.5M-1407.0%	-$501K
Financing Cash Flow	$5.0M+69.8%	$3.0M-8.8%	$3.2M-60.5%	$8.2M+86.4%	$4.4M-29.5%	$6.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'18	Q3'17
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CRCUF Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-7.6%-3.9pp	-3.7%+6.2pp	-9.9%-0.7pp	-9.2%-2.2pp	-7.0%+0.4pp	-7.4%
Return on Assets	-6.8%-3.3pp	-3.4%+5.8pp	-9.2%-0.9pp	-8.3%-1.7pp	-6.6%+0.6pp	-7.2%
Current Ratio	0.81-0.3	1.15-6.2	7.38+3.3	4.08+0.9	3.18-16.7	19.84
Debt-to-Equity	0.000.0	0.000.0	0.010.0	0.010.0	0.000.0	0.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'18	Q3'17
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	1.15-6.2	7.38+3.3	4.08+0.9	3.18-16.7	19.84-1.2	21.02-69.8	90.85
Debt-to-Equity	0.000.0	0.010.0	0.010.0	0.000.0	0.00-0.0	0.02+0.0	0.01
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: The current ratio is below 1.0 (0.81), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

Is Canagold Resources Ltd profitable?

No, Canagold Resources Ltd (CRCUF) reported a net income of -$2.6M in fiscal year 2025.

How much debt does Canagold Resources Ltd have?

As of fiscal year 2025, Canagold Resources Ltd (CRCUF) had $820K in cash and equivalents against $40K in long-term debt.

What is Canagold Resources Ltd's return on equity (ROE)?

Canagold Resources Ltd (CRCUF) has a return on equity of -7.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Canagold Resources Ltd's operating cash flow?

Canagold Resources Ltd (CRCUF) generated -$817K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Canagold Resources Ltd's total assets?

Canagold Resources Ltd (CRCUF) had $38.4M in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Canagold Resources Ltd have outstanding?

Canagold Resources Ltd (CRCUF) had 194M shares outstanding as of fiscal year 2025.

What is Canagold Resources Ltd's current ratio?

Canagold Resources Ltd (CRCUF) had a current ratio of 0.81 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Canagold Resources Ltd's debt-to-equity ratio?

Canagold Resources Ltd (CRCUF) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Canagold Resources Ltd's return on assets (ROA)?

Canagold Resources Ltd (CRCUF) had a return on assets of -6.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Canagold Resources Ltd's cash runway?

Based on fiscal year 2025 data, Canagold Resources Ltd (CRCUF) had $820K in cash against an annual operating cash burn of $817K. This gives an estimated cash runway of approximately 12 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Canagold Resources Ltd's Piotroski F-Score?

Canagold Resources Ltd (CRCUF) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Canagold Resources Ltd's earnings high quality?

Canagold Resources Ltd (CRCUF) has an earnings quality ratio of 0.32x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Canagold Resources Ltd?

Canagold Resources Ltd (CRCUF) scores 18 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.