Caledonia Mining Corporation (CMCL) Financial Statements & Analysis

Caledonia Mining Corporation (CMCL) Income Statement

Caledonia Mining Corporation reported revenue of $254.14M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 38.9% from $183.02M a year earlier. Net income was $55.22M, up 208.5% year over year, a net margin of 21.7%. Gross margin was 54.0% and operating margin 45.5%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $75.91M, up 16.2% from the same quarter a year earlier.

Caledonia Mining Corporation Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Caledonia Mining Corporation Plc income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2024	FY 2023	FY 2022	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Mar 2025	Dec 2024	Dec 2023	Jan 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	254.14	183.02	183.02	146.31	134.96	142.08	115.25	95.00	75.83	68.40	69.76
Cost of Revenue	117.02	106.03	106.03	104.83	62.52	80.26	52.53	42.51	44.69	46.81	43.44
Gross Profit	137.12	76.99	76.99	41.48	71.96	61.82	62.12	52.48	31.14	21.59	26.32
Operating Expenses
Research & Development	0.00	0.00	-	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	21.52	19.01	19.01	18.53	11.94	13.03	9.09	8.00	6.33	6.24	7.04
Operating Expenses	21.52	33.32	20.40	30.53	41.77	14.41	25.98	15.23	-29.75	0.25	5.13
Operating Income	115.60	43.67	56.59	10.96	30.19	47.41	36.15	37.25	60.89	21.42	20.62
Other Income/Expense
Interest Income	0.46	0.03	0.68	0.04	0.02	0.02	0.01	0.06	0.15	0.05	0.04
Interest Expense	3.51	2.96	3.16	3.02	-0.53	0.66	-0.38	-0.37	0.34	0.27	0.07
Other Income/Expense	-9.03	-3.13	-13.57	-2.99	-0.64	-17.22	-0.36	-0.31	-0.20	-0.22	-0.03
Income
Income Before Tax	106.57	40.54	40.54	7.97	29.55	29.55	38.00	40.43	60.69	21.20	20.59
Income Tax Expense	39.06	17.49	17.49	12.81	14.36	14.36	13.80	15.17	10.29	7.45	8.69
Net Income	55.22	17.90	17.90	-7.86	11.24	11.24	17.40	20.78	42.02	10.77	9.38
Net Income - Continuous Operations	55.22	17.90	23.05	-7.86	-	15.19	17.40	20.78	42.02	10.77	9.38
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-	-	-
EBITDA	125.78	59.72	59.72	25.48	55.55	40.35	49.74	44.71	65.47	25.09	24.74
EBIT	104.14	-	43.70	18.50	45.08	30.21	37.97	37.25	-	-	-
Depreciation & Amortization	15.70	16.02	16.02	14.49	10.47	10.14	11.77	7.46	4.43	4.09	3.79
Earnings Per Share
Basic EPS	3.00	1.00	1.00	-	1.00	1.00	1.00	2.00	4.00	1.00	1.00
Diluted EPS	3.00	1.00	1.00	-	1.00	1.00	1.00	2.00	4.00	1.00	1.00
Basic Shares Outstanding	19.51	19.20	19.63	18.63	12.83	12.83	12.17	11.70	10.74	10.60	10.61
Diluted Shares Outstanding	19.51	19.20	19.63	18.63	12.84	12.84	12.18	11.72	10.75	10.60	10.61

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Caledonia Mining Corporation Financial Statements

What was Caledonia Mining Corporation's revenue in fiscal 2025?

Caledonia Mining Corporation reported revenue of $254.14M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 38.9% from $183.02M a year earlier.

Is Caledonia Mining Corporation profitable?

Yes. Caledonia Mining Corporation earned net income of $55.22M in fiscal 2025, a net margin of 21.7%. In fiscal 2024 it earned $17.90M.

What is Caledonia Mining Corporation's operating margin?

Caledonia Mining Corporation's operating income was $115.60M on revenue of $254.14M in fiscal 2025, an operating margin of 45.5%, compared with 23.9% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition