THMG (Thunder Mountain Gold) ROC %: -129.31% (As of Mar. 2026)

What is Thunder Mountain Gold ROC %?

Thunder Mountain Gold THMG +0.91% 23 ROC % is -129.31% as of Mar. 2026. GuruFocus rates THMG with a GF Score™ of 23/100. The stock has 3 warning signs investors should review.

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. Thunder Mountain Gold's annualized return on capital (ROC %) for the quarter that ended in Mar. 2026 was -129.31%.

As of today (2026-06-26), Thunder Mountain Gold's WACC % is 1.24%. Thunder Mountain Gold's ROC % is -180.20% (calculated using TTM income statement data). Thunder Mountain Gold earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Thunder Mountain Gold (OTCPK:THMG) ROC % Explanation

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. The reason book values of debt and equity are used is because the book values are the capital the company received when issuing the debt or receiving the equity investments.

There are four key components to this definition. The first is the use of operating income or EBIT rather than net income in the numerator. The second is the tax adjustment to this operating income or EBIT, computed as a hypothetical tax based on an effective or marginal tax rate. The third is the use of book values for invested capital, rather than market values. The final is the timing difference; the capital invested is from the end of the prior year whereas the operating income or EBIT is the current year's number.

Why is ROC % important?

Because it costs money to raise capital. A firm that generates higher returns on investment than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.

As of today, Thunder Mountain Gold's WACC % is 1.24%. Thunder Mountain Gold's ROC % is -180.20% (calculated using TTM income statement data). Thunder Mountain Gold earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Be Aware

Like ROE % and ROA %, ROC % is calculated with only 12 months of data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Thunder Mountain Gold ROC % Related Terms

Thunder Mountain Gold ROC % Historical Data

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The historical data trend for Thunder Mountain Gold's ROC % 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.

Thunder Mountain Gold ROC % Chart

Thunder Mountain Gold Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

ROC %

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9.22

-32.38

-43.85

-40.16

-178.02

Thunder Mountain Gold Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
ROC %	Get a 7-Day Free Trial															-150.38	-250.24	-134.22	-228.07	-129.31

23GF Score

Thunder Mountain Gold Inc THMG

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Thunder Mountain Gold ROC % Calculation

Thunder Mountain Gold's annualized Return on Capital (ROC %) for the fiscal year that ended in Dec. 2025 is calculated as:

	ROC % (A: Dec. 2025 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (A: Dec. 2024 )	+	Invested Capital (A: Dec. 2025 ))	/ count )
=	-2.827 * ( 1 - 0% )	/	( (1.441	+	1.735)	/ 2 )
=	-2.827	/	1.588
=	-178.02 %

where

	Invested Capital		(A: Dec. 2024 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	0.981	-	0.202	-	( 0.481	-	max(0, 1.309	-	0.647	+	0.481	))
=	1.441

	Invested Capital		(A: Dec. 2025 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	3.291	-	0.309	-	( 2.592	-	max(0, 1.451	-	2.698	+	2.592	))
=	1.735

Thunder Mountain Gold's annualized Return on Capital (ROC %) for the quarter that ended in Mar. 2026 is calculated as:

	ROC % (Q: Mar. 2026 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2025 )	+	Invested Capital (Q: Mar. 2026 ))	/ count )
=	-2.38 * ( 1 - 0% )	/	( (1.735	+	1.946)	/ 2 )
=	-2.38	/	1.8405
=	-129.31 %

where

	Invested Capital		(Q: Dec. 2025 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	3.291	-	0.309	-	( 2.592	-	max(0, 1.451	-	2.698	+	2.592	))
=	1.735

	Invested Capital		(Q: Mar. 2026 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	2.736	-	0.218	-	( 1.813	-	max(0, 1.36	-	1.932	+	1.813	))
=	1.946

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data. The tax rate is limited to between 0% and 100%.

Frequently Asked Questions Learn more about ROC % →

What does a ROC % of -129.31% mean?

Thunder Mountain Gold (THMG) has a ROC % of -129.31% as of Mar. 2026. Return on capital is the ratio of current-period net income to average two-period capital. View historical data on Thunder Mountain Gold and its competitors.

Is Thunder Mountain Gold's ROC % too high?

Thunder Mountain Gold's current ROC % is -129.31%. Overall, Thunder Mountain Gold has a GF Score™ of 23/100, reflecting its overall financial health beyond just this single metric.

How does Thunder Mountain Gold's ROC % compare to ACRG and GRML?

Thunder Mountain Gold's ROC % of -129.31% 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 ROC % for a Metals & Mining company?

A good ROC % depends on the Metals & Mining industry context. However, ROC % 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 ROC % mean?

A high ROC % can signal that a stock is expensive relative to its fundamentals. Return on capital is the ratio of current-period net income to average two-period capital. View historical data on Thunder Mountain Gold and its competitors. Thunder Mountain Gold's current ROC % is -129.31%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Thunder Mountain Gold stock overvalued right now?

Thunder Mountain Gold (THMG) has a current ROC % of -129.31%. The current ROC % is -129.31%. Thunder Mountain Gold's overall GF Score™ is 23/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is ROC % calculated?

ROC % is calculated from a company's financial statements. For Thunder Mountain Gold (THMG), the current ROC % is -129.31% as of Mar. 2026. 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.

Thunder Mountain Gold Business Description

Industry Basic Materials Metals & Mining

Comparable Companies ACRG GRML SRGZ DYNR RITE SILS NMEX GLNS PDIV MINR LSE:FRES JSE:VAL ISX:AMMN JSE:IMP HL LIM:BUENAVC1 JSE:SSW TSX:CGG JSE:NPH TSX:TFPM

Other Exchanges THM:Canada

Address 11770 W. President Drive, Suite F, Boise, ID, USA, 83713

Website https://www.thundermountaingold.com

Thunder Mountain Gold Inc is a mineral exploration stage company. The company is engaged in exploring mining properties that have the potential to produce high-quality precious and base metal projects in North America. The company holds interests in the South Mountain and Trout Creek Project. The Company operates as a single business segment, focused on the exploration and development of the South Mountain Project.

23GF Score

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