TMC the metals company inc.
The research page contains a warning that has not been mapped to a supported model interpretation. The company research remains available, but the complete score is withheld until the warning is reviewed.
TMC · Price history
Price at last available close
$2.75
−$1.11 (-28.76%) 1M
2026-10-27
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Company & revenue
About TMC the metals company inc.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
TMC the metals company Inc., a deep-sea minerals exploration company, focuses on the collection, processing, and refining of polymetallic nodules found on the seafloor in California. It primarily explores for nickel, cobalt, copper, and manganese products. The company holds exploration and commercial rights in two polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean.
How they make money
TMC is a deep-sea minerals exploration company currently in the pre-revenue stage. Its business model focuses on the development of projects to collect, process, and refine polymetallic nodules from the ocean floor to supply critical battery metals like nickel, copper, cobalt, and manganese for the electric vehicle and energy storage markets.
Products & services
The company is developing technology and processes to collect polymetallic nodules from the seafloor and refine them into battery-grade metals including nickel, copper, cobalt, and manganese.
Brands & revenue mix
No separate brand or brand-level revenue disclosure was confirmed in the reviewed sources. This does not mean the company has no brands.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer concentration
No quantified customer-concentration disclosure is available in the current saved research.
Suppliers, materials & equipment
- Allseas Group SA — Provides offshore engineering, vessel conversion, and subsea collection system development services.Source
Strengths
- Access to large, high-grade polymetallic nodule resources in the Clarion-Clipperton ZoneSource
Sources
Company-specific research
Questions worth answering for TMC
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •How long can TMC fund negative free cash flow using its current cash position before it may need more debt or new shares?
- •How is TMC likely to use its cash advantage: reinvestment, acquisitions, debt reduction, dividends or buybacks?
- •What specifically needs to improve for TMC to reach sustainable profitability?
- •What future growth or profitability would be needed to justify TMC's current valuation?
- •What does the current fundamental change risk warning mean for the reliability or interpretation of TMC's score?
Essential Investment Snapshot
Market Cap
$1.21B
P/E Ratio
-3.0
EPS
$-0.85
52-Week High
$10.05
52-Week Low
$2.47
Beta
1.91
Analyst Target
$10.00
Shares Outstanding
384.5M
Total Debt
$0
Dividend
No current dividend
Liquidation Value / Share
$-0.07
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Strong downward momentum
High movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for TMC
Detected from reported data — verify before acting.Debt service risk
Interest coverage is low (~-43.6x). Earnings may be strained to cover interest expense.
Community Sentiment
0 active · 0 total callsNo personal call yet on TMC.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Access to large, high-grade polymetallic nodule resources in the Clarion-Clipperton Zone.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Other Precious Metals industry.
- −Uncertainty regarding regulatory approval and the International Seabed Authority mining code.
- −Significant capital requirements and history of operating losses.
- −Environmental and social opposition to deep-sea mining.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
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Scores
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Score Changes
Score changes will appear once more historical records are available.
Price vs. Value
Valuation unavailableCurrent Price
$2.75
Model Intrinsic Value
—
Difference
—
Margin of Safety
—
Intrinsic value is not currently available for this stock, so valuation can't be calculated.
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· |
| Cost of Revenue | $118K | $252K | $362K | $360K | ···· | ···· | ···· | ···· |
| Gross Profit | -$118K | -$252K | -$362K | -$360K | ···· | ···· | ···· | ···· |
| Research & Development | $56.1M | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· |
| SG&A Expenses | $111.1M | $99.8M | $30.6M | $72.0M | ···· | ···· | ···· | ···· |
| Operating Expenses | $205.6M | $139.8M | $80.9M | $72.0M | ···· | ···· | ···· | ···· |
| EBITDA | -$302.4M | -$316.2M | -$78.9M | -$73.4M | ···· | ···· | ···· | ···· |
| Operating Income | -$205.8M | -$140.1M | -$81.3M | -$72.4M | ···· | ···· | ···· | ···· |
| Interest Expense | $2.7M | $3.2M | $2.6M | $781K | ···· | ···· | ···· | ···· |
| Income Before Tax | -$305.3M | -$319.7M | -$81.9M | -$73.7M | ···· | ···· | ···· | ···· |
| Income Tax Expense | $304K | $144K | $48K | $41K | ···· | ···· | ···· | ···· |
| Net Income | -$305.6M | -$319.8M | -$81.9M | -$73.8M | ···· | ···· | ···· | ···· |
| Basic EPS | $-0.85 | $-0.83 | $-0.25 | $-0.26 | ···· | ···· | ···· | ···· |
| Basic Shares | 433M | 385M | 322M | 289M | ···· | ···· | ···· | ···· |
| Diluted Shares | 433M | 385M | 322M | 289M | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$0
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
-$0.14
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
-100.0%
Cash Change
-14.8%
Margin Change
Not available
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Debt reduced
What Weakened
- Cash position declined
Potential Score Impact
Positive indicators included debt levels. Pressure indicators included EPS growth, cash levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
EPS declined 30.0%. Cash declined 14.8%. Total debt declined 100.0%.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
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Start 7-Day Free TrialHistorical Trends
3 historical recordsHistorical Score Chart
3 of 3 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
Other Precious MetalsNews
TMC the metals (NASDAQ:TMC) Reaches New 52-Week Low – Here’s Why
TMC the metals (NASDAQ:TMC) Shares Down 7% – What’s Next?
TMC the metals (NASDAQ:TMC) Shares Climb 7.6% – Still a Buy?
Why The Metals Company Stock Is Soaring Today
Rumor Mill · TMC
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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