Retained earnings is the accumulated portion of net income that is not distributed to shareholders. Glencore's retained earnings for the quarter that ended in Dec. 2025 was $27,561 Mil.
Glencore's quarterly retained earnings
declined
from Dec. 2024 ($27,139 Mil) to Jun. 2025 ($26,309 Mil) but then
increased
from Jun. 2025 ($26,309 Mil) to Dec. 2025 ($27,561 Mil).
Glencore's annual retained earnings
declined
from Dec. 2023 ($29,607 Mil) to Dec. 2024 ($27,139 Mil) but then
increased
from Dec. 2024 ($27,139 Mil) to Dec. 2025 ($27,561 Mil).
Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.
For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.
If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.
Of course, many companies with negative retained earnings have indeed lost money in the past.
Retained Earnings: Warren Buffett's Secret.
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.
If the company loses more than it has accumulated, retained earnings is negative.
If a company isn't adding to its retained earnings, it isn't growing its net worth.
Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.
Microsoft is negative because it chose to buyback stock and pay dividends.
The more earnings retained, the faster it grows and increases growth rate for future earnings.
Glencore Retained Earnings Historical Data
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The historical data trend for Glencore's Retained Earnings can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.
Of course, if a company loses, it is called retained losses, or accumulated losses.
What does a Retained Earnings of $27,561 Mil mean?
Glencore (GLCNF) has a Retained Earnings of $27,561 Mil as of Dec. 2025. Retained earnings is the amount of net income not issued to shareholders. View historical data on Glencore and its competitors.
Is Glencore's Retained Earnings too high?
Glencore's current Retained Earnings is $27,561 Mil. Overall, Glencore has a GF Score™ of 76/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Glencore's Retained Earnings compare to competitors?
Glencore's Retained Earnings of $27,561 Mil can be compared against companies in the Metals & Mining industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Retained Earnings for a Metals & Mining company?
A good Retained Earnings depends on the Metals & Mining industry context. However, Retained Earnings should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Retained Earnings mean?
A high Retained Earnings can signal that a stock is expensive relative to its fundamentals. Retained earnings is the amount of net income not issued to shareholders. View historical data on Glencore and its competitors. Glencore's current Retained Earnings is $27,561 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Glencore stock overvalued right now?
Based on GuruFocus' analysis, Glencore (GLCNF) is currently considered Modestly Overvalued. The stock's GF Value™ is $6.08, compared to a current price of $6.77 — trading 11.3% above its estimated fair value. The current Retained Earnings is $27,561 Mil. Glencore's overall GF Score™ is 76/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Retained Earnings calculated?
Retained Earnings is calculated from a company's financial statements. For Glencore (GLCNF), the current Retained Earnings is $27,561 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Glencore (GLCNF) Overvalued in 2026?
Based on GuruFocus' analysis, Glencore stock appears to be overvalued.
The current stock price of $6.77 is trading 11.3% above its estimated GF Value™ of $6.08.
GuruFocus considers Glencore to be Modestly Overvalued.
Key valuation signals for GLCNF:
Retained Earnings: $27,561 Mil
GF Value™: $6.08 vs. price of $6.77 (11.3% above fair value)
No single metric tells the full story. See the GLCNF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Glencore is one of the world's largest commodities traders, active in markets for metals and minerals, and energy products. Its marketing business provides sourcing, logistics, transportation, storage, and financing services to commodity producers and consumers around the globe. Its mining or industrials business produces thermal coal, coking coal, copper, zinc, nickel, cobalt, and ferroalloys. Unlike other major miners who are generally reducing their exposure to coal, it plans to produce thermal coal until its mines exhaust, arguing that it is better for listed, western companies to own these assets and then rehabilitate them consistent with western standards. We agree. It also expanded its coking coal exposure via the purchase of 77% of Teck's metallurgical coal business in July 2024.
76GF Score
Get the complete analysis for GLCNF
Retained Earnings is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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