GDRZF · CIK 0001072725
GOLD RESERVE LTD.
Annual figures as reported, FY2012–FY2023. Ratios and growth rates derived on-page.
Gold and Silver Ores
Company profile
Net income
−$23.1M
▼ −168.9% vs FY2022
Free cash flow
−$8.6M
▼ −87.0% vs FY2020
Total assets
$39.7M
▼ −24.9% vs FY2022
Net income
Losses shown in terracotta
Recent quarters
momentum · last 12 quartersNet income — Sep ’11 quarter
−$5.1M
▲ +23.0% vs Sep ’10
Quarterly net income
Losses shown in terracotta
| Quarter | Revenue | Rev. YoY | Gross margin | Net income | Net margin | Diluted EPS |
|---|---|---|---|---|---|---|
| Sep ’11 | — | — | — | −$5.1M | — | — |
| Jun ’11 | — | — | — | −$6.9M | — | — |
| Sep ’10 | — | — | — | −$6.6M | — | — |
| Jun ’10 | — | — | — | −$4.2M | — | — |
Profitability & returns
quality of earningsReturns on capital
Net income vs year-end equity and assets
Return on equityReturn on assets
Cash flow
cash generationFree cash flow
Operating cash flow less capital expenditure
Operating cash flow
Net cash from operations
Balance sheet
financial positionStockholders’ equity
At fiscal year end
Key ratios
derived per fiscal year| Fiscal year | ROE | ROA | Current ratio |
|---|---|---|---|
| FY2023 | −80.9% | −58.2% | 3.52× |
| FY2022 | −16.7% | −16.2% | 38.13× |
| FY2021 | −17.7% | −17.5% | 95.67× |
| FY2020 | −16.8% | −16.6% | 71.47× |
| FY2019 | −16.6% | −16.4% | 90.32× |
| FY2018 | 24.9% | 24.8% | 218.93× |
| FY2017 | 71.2% | 59.4% | 21.15× |
| FY2016 | −765.6% | −44.4% | 52.53× |
| FY2015 | — | −81.0% | 6.52× |
| FY2014 | — | −131.7% | 0.18× |
| FY2013 | — | −0.8% | 5.08× |
| FY2012 | 150.1% | 33.9% | 9.44× |
Annual figures
as reported| Fiscal year | Revenue | Gross profit | Op. income | Net income | Diluted EPS | Op. cash flow | Capex | Total assets | Liabilities | Equity | Cash | LT debt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY2023 | — | — | — | −$23.1M | — | −$7.4M | — | $39.7M | $11.2M | $28.6M | $8.5M | — |
| FY2022 | — | — | — | −$8.6M | — | −$6.4M | — | $52.9M | $1.4M | $51.6M | $15.4M | — |
| FY2021 | — | — | — | −$10.6M | — | −$8.6M | $2K | $60.6M | $611K | $60.0M | $49.1M | — |
| FY2020 | — | — | — | −$11.5M | — | −$4.6M | $47K | $69.4M | $1.0M | $68.4M | $57.4M | — |
| FY2019 | — | — | — | −$13.1M | — | −$10.3M | $10K | $80.3M | $984K | $79.3M | $61.8M | — |
| FY2018 | — | — | — | $41.9M | — | −$64.2M | — | $168.7M | $713K | $167.9M | $147.6M | — |
| FY2017 | — | — | — | $89.5M | — | −$47.0M | — | $150.7M | $24.9M | $125.8M | $137.7M | — |
| FY2016 | — | — | — | −$21.5M | — | −$10.9M | — | $48.5M | $45.7M | $2.8M | $35.7M | — |
| FY2015 | — | — | — | −$18.1M | — | −$8.9M | — | $22.4M | $42.2M | −$19.9M | $9.4M | — |
| FY2014 | — | — | — | −$25.6M | — | −$7.2M | — | $19.4M | $40.4M | −$21.0M | $6.4M | — |
| FY2013 | — | — | — | −$177K | — | −$11.0M | $128K | $22.8M | $25.7M | −$2.9M | $3.0M | — |
| FY2012 | — | — | — | $9.6M | — | −$13.2M | $159K | $28.4M | $22.0M | $6.4M | $8.3M | — |
Latest filings
the most recent regulatory filingsDSEC filing2026-03-19 ↗DSEC filing2025-08-08 ↗AWAW FILE NO 333-652502025-05-09 ↗AWAW FILE NO 333-969172025-05-09 ↗AWAW FILE NO 333-1109272025-05-09 ↗AWAW FILE NO 333-1109282025-05-09 ↗AWAW FILE NO 333-1190372025-05-09 ↗AWAW FILE NO 333-1190382025-05-09 ↗AWAW FILE NO 333-1273362025-05-09 ↗AWAW FILE NO 333-1273372025-05-09 ↗
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