Gold Reserve annual net debt
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2025
Gold Reserve Net Debt Growth & History (GDRZF)
Gold Reserve's net debt was −$68.7M for fiscal 2025.
View full Gold Reserve company overviewGold Reserve annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | −$68.7M | −$25.9M | — |
| 2024 | 2024-12-31 | −$42.8M | −$34.3M | — |
| 2023 | 2023-12-31 | −$8.5M | $6.9M | — |
| 2022 | 2022-12-31 | −$15.4M | $33.7M | — |
| 2021 | 2021-12-31 | −$49.0M | $8.3M | — |
| 2020 | 2020-12-31 | −$57.3M | $4.2M | — |
| 2019 | 2019-12-31 | −$61.6M | $86.1M | — |
| 2018 | 2018-12-31 | −$147.6M | −$10.0M | — |
| 2017 | 2017-12-31 | −$137.7M | −$145.9M | — |
| 2016 | 2016-12-31 | $8.2M | −$22.1M | −72.89% |
| 2015 | 2015-12-31 | $30.3M | $35.7M | — |
| 2014 | 2014-12-31 | −$5.4M | −$26.4M | — |
| 2013 | 2013-12-31 | $21.0M | $9.3M | +80.02% |
| 2012 | 2012-12-31 | $11.7M | −$32.5M | −73.55% |
| 2011 | 2011-12-31 | $44.2M | $1.6M | +3.73% |
| 2010 | 2010-12-31 | $42.6M | — | — |
Gold Reserve quarterly net debt
Q4.10
Q2.11
Q3.11
Q4.11
Q1.12
Q2.12
Q3.12
Q4.12
Q1.13
Q2.13
Q3.13
Q4.13
Q1.14
Q2.14
Q3.14
Q4.14
Q1.15
Q2.15
Q3.15
Q4.15
Q1.16
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Q3.16
Q4.16
Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | −$112.6M | −$60.9M | — |
| Q1 2026 | 2026-03-31 | −$122.3M | — | — |
| Q4 2025 | 2025-12-31 | −$68.7M | — | — |
| Q3 2025 | 2025-09-30 | −$89.2M | — | — |
| Q2 2025 | 2025-06-30 | −$51.7M | — | — |
| Q2 2022 | 2022-06-30 | −$46.0M | $7.2M | — |
| Q1 2022 | 2022-03-31 | −$48.0M | $7.8M | — |
| Q4 2021 | 2021-12-31 | −$49.0M | $8.3M | — |
| Q3 2021 | 2021-09-30 | −$51.8M | $6.9M | — |
| Q2 2021 | 2021-06-30 | −$53.2M | $7.4M | — |
| Q1 2021 | 2021-03-31 | −$55.8M | — | — |
| Q4 2020 | 2020-12-31 | −$57.3M | $4.2M | — |
| Q3 2020 | 2020-09-30 | −$58.7M | $6.3M | — |
| Q2 2020 | 2020-06-30 | −$60.6M | $7.4M | — |
| Q4 2019 | 2019-12-31 | −$61.6M | $86.1M | — |
| Q3 2019 | 2019-09-30 | −$65.0M | $47.1M | — |
| Q2 2019 | 2019-06-30 | −$68.0M | $49.4M | — |
| Q1 2019 | 2019-03-31 | −$146.5M | −$13.9M | — |
| Q4 2018 | 2018-12-31 | −$147.6M | −$10.0M | — |
| Q3 2018 | 2018-09-30 | −$112.1M | −$25.5M | — |
| Q2 2018 | 2018-06-30 | −$117.3M | −$71.8M | — |
| Q1 2018 | 2018-03-31 | −$132.6M | −$145.2M | — |
| Q4 2017 | 2017-12-31 | −$137.7M | −$145.9M | — |
| Q3 2017 | 2017-09-30 | −$86.5M | −$93.5M | — |
| Q2 2017 | 2017-06-30 | −$45.5M | −$47.6M | — |
| Q1 2017 | 2017-03-31 | $12.6M | −$18.9M | −60.06% |
| Q4 2016 | 2016-12-31 | $8.2M | −$22.1M | −72.89% |
| Q3 2016 | 2016-09-30 | $7.0M | $8.2M | — |
| Q2 2016 | 2016-06-30 | $2.1M | $4.7M | — |
| Q1 2016 | 2016-03-31 | $31.5M | $35.3M | — |
| Q4 2015 | 2015-12-31 | $30.3M | $35.7M | — |
| Q3 2015 | 2015-09-30 | −$1.2M | −$26.1M | — |
| Q2 2015 | 2015-06-30 | −$2.5M | −$24.5M | — |
| Q1 2015 | 2015-03-31 | −$3.8M | −$27.4M | — |
| Q4 2014 | 2014-12-31 | −$5.4M | −$26.4M | — |
| Q3 2014 | 2014-09-30 | $24.9M | $30.7M | — |
| Q2 2014 | 2014-06-30 | $21.9M | $24.5M | — |
| Q1 2014 | 2014-03-31 | $23.6M | $9.0M | +61.70% |
| Q4 2013 | 2013-12-31 | $21.0M | $9.3M | +80.02% |
| Q3 2013 | 2013-09-30 | −$5.8M | −$59.1M | — |
| Q2 2013 | 2013-06-30 | −$2.6M | −$39.5M | — |
| Q1 2013 | 2013-03-31 | $14.6M | −$33.8M | −69.86% |
| Q4 2012 | 2012-12-31 | $11.7M | −$32.5M | −73.55% |
| Q3 2012 | 2012-09-30 | $53.3M | $14.2M | +36.28% |
| Q2 2012 | 2012-06-30 | $36.9M | −$3.4M | −8.52% |
| Q1 2012 | 2012-03-31 | $48.4M | — | — |
| Q4 2011 | 2011-12-31 | $44.2M | $1.6M | +3.73% |
| Q3 2011 | 2011-09-30 | $39.1M | — | — |
| Q2 2011 | 2011-06-30 | $40.4M | — | — |
| Q4 2010 | 2010-12-31 | $42.6M | — | — |
Gold Reserve net debt trends
Over the last five fiscal years, Gold Reserve's net debt decreased from −$57.3M to −$68.7M, a change of −$11.4M. The latest reported quarter, Q2 2026, shows −$112.6M.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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