Lifezone Metals (LZM) Balance Sheet: Assets & Liabilities

Lifezone Metals (LZM) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Lifezone Metals reported total assets of $175.75M and total liabilities of $102.92M. Shareholders' equity was $72.83M, down 18.7% from $89.54M a year earlier. Total debt stood at $51.20M against $20.64M in cash and short-term investments, a net debt position of $30.56M. That puts debt-to-equity at 0.70, compared with 0.31 a year earlier.

Lifezone Metals Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Lifezone Metals Limited (LZM) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Mar 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Current Assets
Cash and Cash Equivalents	20.14	29.28	29.28	49.39	20.54	45.62	0.60
Short-Term Investments	0.50	0.00	0.36	0.00	0.00	0.00	0.00
Cash & Short-Term Investments	20.64	29.28	29.64	49.39	20.54	45.62	0.60
Accounts Receivable	2.03	0.93	2.12	2.72	6.01	1.07	0.37
Inventory	0.06	0.16	0.16	0.10	0.05	0.00	0.00
Other Current Assets	5.22	1.28	1.28	2.61	50.00	0.87	0.26
Total Current Assets	27.45	31.66	31.66	54.82	76.59	47.56	1.23
Non-Current Assets
Property, Plant & Equipment (Net)	6.44	6.53	6.53	77.50	19.69	13.75	0.00
Long-Term Investments	0.00	0.00	-	0.00	285.65	281.52	0.00
Goodwill	0.00	0.00	-	9.02	0.00	0.00	0.00
Intangible Assets	0.88	0.89	0.89	0.91	0.69	0.58	0.53
Other Non-Current Assets	140.99	117.58	117.58	69.81	18.46	0.29	0.00
Total Non-Current Assets	148.30	124.99	124.99	87.44	20.39	14.33	0.53
Total Assets	175.75	156.65	156.65	142.26	96.98	61.89	1.76
Current Liabilities
Accounts Payable	3.85	3.00	4.94	2.53	16.60	0.72	0.24
Short-Term Debt	34.52	26.85	26.24	1.21	0.41	0.00	0.00
Current Portion of Long-Term Debt	34.52	-	26.24	-	-	-	-
Accrued Liabilities	1.85	-	1.94	4.95	15.36	1.42	-
Other Current Liabilities	19.78	26.08	24.20	3.69	15.06	0.21	0.00
Total Current Liabilities	59.08	56.00	56.00	12.76	16.71	2.35	0.24
Non-Current Liabilities
Long-Term Debt	16.68	0.80	0.80	1.19	0.29	0.00	0.00
Deferred Tax Liabilities	0.30	0.53	0.53	0.00	0.00	0.00	0.00
Other Non-Current Liabilities	26.04	0.00	0.53	0.00	3.69	5.68	0.00
Total Non-Current Liabilities	43.84	1.33	1.33	1.19	4.28	5.68	0.00
Total Liabilities	102.92	57.33	57.33	13.95	20.99	8.03	0.24
Stockholders' Equity
Common Stock	0.01	0.01	0.01	0.01	0.00	0.00	0.00
Retained Earnings	-468.10	-454.47	-454.47	-408.17	-44.29	-20.71	-0.76
Accumulated Other Comprehensive Income	53.00	67.72	68.00	66.49	57.85	49.31	0.28
Additional Paid-in Capital	190.50	476.29	185.35	178.97	25.72	25.72	2.01
Minority Interest	-1.00	9.79	9.79	10.44	11.23	-0.18	0.00
Shares Outstanding	83.78	-	79.12	78.27	79.42	79.42	-
Total Stockholders' Equity	72.83	89.54	99.33	117.88	64.76	53.86	1.52
Total Liabilities & Equity	175.75	156.65	156.65	142.26	96.98	61.89	1.76

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

Frequently Asked Questions About Lifezone Metals Balance Sheet

How much debt does Lifezone Metals have?

Lifezone Metals had total debt of $51.20M as of Dec 31, 2025, against $20.64M in cash and short-term investments. Its debt-to-equity ratio was 0.70. Total debt was $27.65M a year earlier.

What are Lifezone Metals's total assets?

Lifezone Metals reported total assets of $175.75M as of Dec 31, 2025, up 12.2% from $156.65M a year earlier. Total liabilities were $102.92M.

What is Lifezone Metals's shareholders' equity?

Lifezone Metals's shareholders' equity was $72.83M as of Dec 31, 2025, or about $0.87 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition