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Pre-revenue company seeking to mine nickel, cobalt and manganese nodules from the deep Pacific seabed.
Pre-revenue company seeking to mine nickel, cobalt and manganese nodules from the deep Pacific seabed.
Moat: narrow (first-mover, regulatory licence). Holds some of the largest seabed exploration contracts, but seabed mining is unproven and commercially and environmentally contested.
Headquarters: Vancouver, Canada · Founded: 2011 · Employees: 48
Size TMC (TMC) is a United States Materials company (Other Metals/Minerals) with a market value of $1.00B, the 2244th largest of 3,117 United States companies the cockpit tracks. Shares closed at $2.27 on 6 Nov 2026.
Performance Over six months the shares fell 60.2%, against -16.9% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 20 in its peer set.
Short interest Short interest is 7.9% of the free float (15 Oct 2026).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 |
| Revenue growth | — | — | — | — | — |
| Gross profit | -$214,000 | -$252,000 | -$362,000 | -$360,000 | -$418,000 |
| EBITDA | -$206M | -$140M | -$80.9M | -$72.0M | -$174M |
| Net income | -$306M | -$320M | -$81.9M | -$73.8M | -$171M |
| Free cash flow | -$43.5M | -$42.9M | -$44.0M | -$60.2M | -$67.8M |
| Capital expenditure | $193,000 | $245,000 | $515,000 | $578,000 | $1.17M |
| Total debt | $145M | $145M | $11.8M | $0 | $0 |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| TMC TMC | $1.00B | -60% | n/a | n/a | n/a | n/a |
| Vale S.A. Sponsored ADR VALE | $45.4B | -30% | +11% | 25% | 1.4× | -14.0% |
| Glencore GLEN.L | $78.0B | -14% | +27% | 2% | 0.4× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TMC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -33.8% | -14.4% | lowest of 21 |
| 6-month return | -60.2% | -16.9% | lowest of 20 |
| Distance from 52-week high | -77.4% | -38.7% | lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| TMC TMC | United States | $1.00B | -60% | n/a | n/a | n/a | n/a | n/a |
| Jinchuan Group International Resources 2362.HK | Hong Kong | $997M | +4% | +65% | 22% | 2.0× | -2.2% | -1.8% |
| AMG Critical Materials AMG.AS | Netherlands | $988M | -41% | +12% | 7% | 0.8× | 0.2% | +13.0% |
| Zhejiang Tony Electronic 603595.SS | China | $960M | +52% | +5% | -12% | 3.8× | n/a | n/a |
| Americas Gold and Silver USA.TO | Canada | $1.05B | -50% | +86% | 19% | 5.6× | n/a | n/a |
| Jain Resource Recycling JAINREC.NS | India | $1.05B | -43% | +48% | 5% | 0.9× | n/a | n/a |
| Zimplats ZIM.AX | Australia | $1.06B | -15% | +50% | 33% | 0.8× | -15.0% | +1.1% |
| Metals X MLX.AX | Australia | $934M | -11% | +26% | 53% | 2.9× | -10.3% | +31.2% |
| Xizang Zhihui Mining 2546.HK | Hong Kong | $1.08B | +8% | +104% | 28% | 11.8× | 32.8% | +6.0% |
| Sandur Manganese & Iron Ores SANDUMA.NS | India | $914M | -18% | +21% | 20% | 1.6× | 13.8% | +46.8% |
| Osisko Metals OM.TO | Canada | $911M | -16% | n/a | n/a | n/a | n/a | n/a |
| Amerigo Resources ARG.TO | Canada | $910M | +24% | +54% | 41% | 2.8× | 3.8% | +13.4% |
| Londian Wason New Energy Tech, Inc. Unsponsored ADR FOIL | United States | $1.11B | n/a | +25% | 5% | 0.6× | n/a | n/a |
| Changsha Dialine New Material Sci.&Tech 300700.SZ | China | $903M | -13% | +14% | -23% | 13.7× | n/a | n/a |
| Alphamin Resources AFM.V | Canada | $1.12B | -15% | +45% | 54% | 1.3× | n/a | n/a |
| Uranium Royalty UROY | United States | $1.16B | -24% | +1,570% | 27% | 9.4× | 17.4% | +161.8% |
| Jiangxi Jiangnan New Material Technology 603124.SS | China | $1.16B | -37% | +19% | 3% | 0.8× | n/a | n/a |
| Collective Mining CNL.TO | Canada | $1.17B | -22% | n/a | n/a | n/a | n/a | n/a |
| Gravita India GRAVITA.NS | India | $1.17B | -17% | +24% | 8% | 2.2× | n/a | n/a |
| Eramet ERA.PA | France | $1.19B | -38% | 0% | -1% | 1.4× | n/a | n/a |
| Solaris Resources SLS.TO | Canada | $1.19B | -28% | n/a | n/a | n/a | n/a | n/a |