Thermal Energy International Inc. (TSXV:TMG)

TSXV:TMG Balance Sheet

Financials in millions CAD. Fiscal year is June - May.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Feb 28, 2026	May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021
Cash & Equivalents	3.96	2.8	6.97	3	2.63	4.24
Cash & Short-Term Investments	3.96	2.8	6.97	3	2.63	4.24
Cash Growth	-23.07%	-59.82%	132.13%	14.03%	-37.95%	-11.18%
Accounts Receivable	4.9	4.37	3.79	5.72	2.59	2.42
Other Receivables	0.25	0.14	0.51	0.41	0.57	0.76
Receivables	5.15	4.52	4.3	6.13	3.16	3.18
Inventory	2.01	1.83	1.59	1.47	1.05	0.96
Prepaid Expenses	0.38	0.77	1.35	0.43	0.17	0.2
Total Current Assets	11.5	9.91	14.21	11.03	7.01	8.58
Property, Plant & Equipment	1.3	1.33	1.81	1.55	1.54	1.82
Other Intangible Assets	0.45	0.49	0.63	0.85	1.03	1.03
Long-Term Deferred Tax Assets	0.22	0.22	0.14	0.09	0.02	0.11
Total Assets	13.47	11.95	16.79	13.51	9.6	11.55

Liabilities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Feb 28, 2026	May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021
Accounts Payable	1.6	1.51	2.43	2.24	0.66	0.8
Accrued Expenses	2.41	1.3	2.07	2.03	0.99	0.93
Current Portion of Long-Term Debt	0.01	0.33	0.92	0.92	0.8	0.85
Current Portion of Leases	0.29	0.39	0.31	0.21	0.19	0.22
Current Income Taxes Payable	0.07	0.08	0.06	0.01	0.06	0.02
Current Unearned Revenue	2.86	2.72	4.34	2.09	1.06	1.6
Other Current Liabilities	0.6	1.18	0.57	0.49	0.48	0.36
Total Current Liabilities	7.85	7.51	10.7	7.99	4.24	4.77
Long-Term Debt	-	0	1.43	2.35	3.14	2.41
Long-Term Leases	0.75	0.86	1.23	1.25	1.18	1.34
Long-Term Deferred Tax Liabilities	0	0	0	0	0	0.06
Total Liabilities	8.6	8.38	13.37	11.59	8.55	8.58

Shareholders' Equity

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Feb 28, 2026	May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021
Common Stock	32.83	32.8	33.25	32.53	32.48	32.44
Additional Paid-In Capital	5.12	4.9	4.66	4.94	4.74	4.53
Retained Earnings	-33.61	-34.66	-34.73	-35.66	-36.38	-34.46
Comprehensive Income & Other	0.53	0.54	0.29	0.17	0.24	0.53
Total Common Equity	4.87	3.57	3.46	1.97	1.08	3.04
Minority Interest	0.01	-0	-0.04	-0.05	-0.03	-0.08
Shareholders' Equity	4.87	3.57	3.42	1.92	1.04	2.96
Total Liabilities & Equity	13.47	11.95	16.79	13.51	9.6	11.55

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Feb 28, 2026	May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021
Total Debt	1.05	1.59	3.89	4.73	5.31	4.81
Net Cash (Debt)	2.91	1.21	3.07	-1.73	-2.68	-0.57
Net Cash Growth	24.49%	-60.58%	-	-	-	-
Net Cash Per Share	0.01	0.01	0.02	-0.01	-0.02	-0.00
Filing Date Shares Outstanding	170.96	173.11	172.73	164.48	164.14	163.89
Total Common Shares Outstanding	170.96	173.11	172.73	164.48	164.14	163.89
Working Capital	3.65	2.4	3.51	3.03	2.78	3.81
Book Value Per Share	0.03	0.02	0.02	0.01	0.01	0.02
Tangible Book Value	4.42	3.08	2.84	1.12	0.05	2.01
Tangible Book Value Per Share	0.03	0.02	0.02	0.01	0.00	0.01
Machinery	-	1.51	1.41	1.29	1.18	1.12
Leasehold Improvements	-	0.46	0.44	0.2	0.2	0.2
Order Backlog	-	12.9	18.7	13	-	-

Data Source: S&P Global Market Intelligence Last updated: Feb 28, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 29, 2026

Data Sources Report a data error