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Friday 6 November 2026
Export TRX’s income statement to Excel — free account
TRX Gold Corporation
TRX Basic Materials Gold
TRX Gold Corporation’s revenue for fiscal 2025 (year ended August 2025) was $57.6 million, up 40.0% from fiscal 2024.
- Revenue
- +163.3%
- EPS
- 0.00%
- Free cash flow
- +88.1%
- Total debt
- −20.0%
Quarter to May 2026, against a year earlier
0.94
0.03
−3.09%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to August
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM May ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | 15 | 38 | 41 | 58 | 116 | +56.3% | 238 | 233 | 238 | +60.4% | |
| Gross margin, % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 62.14 | 47.48 | 43.56 | 41.55 | 58.24 | +41.6 pt | ||||||
| EBT | (10) | (5) | (5) | (22) | (12) | (5) | (2) | 12 | 10 | 14 | 23 | n/m | ||||||
| EBT margin, % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | (12.50) | 32.30 | 25.11 | 25.09 | 20.27 | +25.1 pt | ||||||
| Net income | (10) | (5) | (5) | (22) | (12) | (5) | (2) | 7 | 4 | 7 | (1) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.06 | 0.14 | 0.14 | 0.20 | 0.35 | n/m | |||||
| Earnings | (0.09) | (0.04) | (0.05) | (0.17) | (0.07) | (0.02) | (0.02) | 0.01 | 0.00 | 0.00 | (0.06) | n/m | ||||||
| Cash flow | (0.01) | (0.03) | (0.01) | (0.03) | (0.04) | (0.03) | 0.01 | 0.06 | 0.05 | 0.06 | 0.09 | n/m | ||||||
| Capex | (0.01) | (0.01) | (0.01) | (0.02) | (0.04) | (0.04) | (0.05) | (0.06) | (0.05) | (0.05) | (0.08) | +27.1% | ||||||
| Free cash flow | (0.02) | (0.04) | (0.02) | (0.04) | (0.08) | (0.07) | (0.04) | 0.00 | 0.01 | 0.01 | 0.01 | n/m | ||||||
| Book value | 0.25 | 0.23 | 0.22 | 0.11 | 0.15 | 0.20 | 0.19 | 0.22 | 0.23 | 0.25 | 0.37 | +0.4% | ||||||
| Shares, m | 108 | 118 | 123 | 136 | 167 | 232 | 267 | 282 | 290 | 293 | 307 | +11.7% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | 0.00 | 19.50 | 0.00 | 0.00 | 0.00 | 4.9 | |||||
| P/S | — | — | — | — | — | — | 0.00 | 2.87 | 2.67 | 1.98 | 2.69 | 1.9 | ||||||
| P/B | — | — | — | — | — | — | 2.51 | 1.80 | 1.67 | 1.54 | 2.57 | 1.9 | ||||||
| EV/Sales | — | — | — | — | — | — | 0.00 | 2.68 | 2.50 | 1.93 | 2.50 | 1.8 | ||||||
| EV/FCF | — | — | — | — | — | — | (13.26) | (223.06) | 62.72 | 43.12 | 90.49 | (32.6) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | (1) | (3) | (2) | (4) | (7) | (8) | 3 | 17 | 15 | 16 | 31 | n/m | |||||
| Capex | (1) | (1) | (1) | (2) | (7) | (9) | (12) | (18) | (14) | (14) | (27) | +41.9% | ||||||
| Free cash flow | (2) | (4) | (3) | (6) | (14) | (17) | (10) | 0 | 2 | 3 | 3 | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | (9) | (5) | (9) | (7) | (5) | 8 | (1) | (1) | (3) | 1 | 36 | n/m | |||||
| Net debt | 2 | 2 | 6 | 3 | 1 | (13) | (8) | (8) | (7) | (6) | (23) | n/m | ||||||
| Shareholders’ equity | 27 | 27 | 27 | 15 | 25 | 46 | 51 | 61 | 66 | 74 | 121 | +12.1% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (23.34) | (11.81) | (13.02) | (62.53) | (34.29) | (8.46) | (9.69) | 2.88 | (0.51) | 0.64 | (13.45) | +24.0 pt | |||||
| ROIC | (4.77) | (8.16) | (7.55) | (13.59) | (19.06) | (18.38) | 0.67 | 12.35 | 11.76 | 14.67 | 35.29 | +19.4 pt | ||||||
| ROE | (29.45) | (16.74) | (19.30) | (105.60) | (57.77) | (11.23) | (12.74) | 4.01 | (0.74) | 0.98 | (20.26) | +30.4 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 15 | 16 | 16 | 34 | 34 | 101 | 366 | 389 | 287 | 414 | — | +44.6% | |||||
| Revenue/emp, $m | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.04 | 0.10 | 0.14 | 0.14 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Aug 2025 · latest quarter May 2026
TRX Gold Corporation vs peers in Gold (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| GAU Galiano Gold Inc. | $554.6M | 7.7× | 3.1× | +116.69% (above 0%: growing) | +242.86% (above 0%: growing) | −414.66% (below 0%: shrinking) | 70.07% | 49.18% | Compare |
| GORO Gold Resource Corporation | $498.1M | 54.2× | — (loss-making) | +293.48% (above 0%: growing) | n/m | +48.03% (above 0%: growing) | 29.51% | 8.50% | Compare |
| CTGO Contango Silver & Gold Inc. | $497.6M | — (loss-making) | — | — | −88.89% (below 0%: shrinking) | −209.25% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| CMCL Caledonia Mining Corporation PLC | $410.5M | 5.3× | 8.2× | +35.13% (above 0%: growing) | +202.22% (above 0%: growing) | +267.89% (above 0%: growing) | 51.61% | 54.94% | Compare |
| AUXX Gold X2 Mining Inc. | $395.7M | — | — | — | — | — | — | — | Compare |
| THM International Tower Hill Mines Ltd | $316.6M | — (loss-making) | — | — | n/m | −36.56% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| IDR Idaho Strategic Resources, Inc. | $309.7M | 13.5× | 14.1× | +13.25% (above 0%: growing) | +15.00% (above 0%: growing) | −294.99% (below 0%: shrinking) | 56.20% | 34.13% | Compare |
| TRX TRX Gold Corporation | $308.4M | — (loss-making) | — (loss-making) | +163.33% (above 0%: growing) | n/m | +88.08% (above 0%: growing) | 59.21% | 47.81% | |
| USAU US Gold Corp | $174.9M | — (loss-making) | — | −7.36% (below 0%: shrinking) | n/m | −6.80% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| Median of peers | $403.1M | 10.6× | 8.2× | +35.13% | +108.61% | −36.56% | 29.51% | 8.50% |