Lithium developer advancing North American lithium resources for battery supply chains and energy transition demand.MoreShow less
Profile & Fundamentals
Lithium Americas (LAC.NYSE) Profile & Fundamentals
Review Lithium Americas reported earnings, valuation, balance sheet and ownership, with source tables and separate AI assessments.
Explore this pageJump to a Profile & Fundamentals section
Explore this research
Profile & Fundamentals contents
Jump directly to any section
Company and Market Context
Lithium Americas: Company Profile & Ownership
Lithium Americas Corp., a resource and materials company, focuses on developing, building, and operating of lithium deposits and chemical processing facilities in the United States and Canada. The company's flagship asset is the Thacker Pass project located in the McDermitt Caldera in Humboldt County, northern Nevada, as well as invests in exploration properties in the United States and Canada. Lithium Americas Corp. was incorporated in 2023 and is headquartered in Vancouver, Canada.
Company profile record
Lithium Americas Corp
Common Stock · Materials · Diversified Metals & Mining
Company
- Company / asset
- Lithium Americas Corp
- Security type
- Common Stock
- Sector
- Materials
- Industry
- Diversified Metals & Mining
- HQ
- 🇨🇦 Canada
- Head office
- 3260 ? 666 Burrard Street, Vancouver, BC, Canada, V6C 2X8
Leadership & scale
- Chief executive
- Mr. Jonathan David Evans
- CEO year born
- 1971
- Full-time employees
- 94
- Fiscal year end
- December
- IPO date
- 2018-01-25
Fundamentals snapshot
- Market Cap
- USD 759.3M
- P/E
- --
- Revenue (Q2 26)
- USD 0.00
- Profit (Q2 26)
- USD 2.1M
- Dividend Yield
- --
- Revenue (FY 25)
- USD 0.00
- Shares in public float
- 346.3M
- Insider ownership
- 6.73%
Reporting & identifiers
- Symbol
- LAC.NYSE
- Listing
- 🇺🇸 United States | Dividend Tax: 25%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- CA53680Q2071
- Asset ID
- equity_4278512d-ae80-57cf-96af-bf9d5cf8590e
Lithium Americas: Ownership
Shares Outstanding
Latest: 401.7M | Max: 401.7M | Min: 81.0M
Latest reported ownership snapshot
Float Shares
86.19%
346.3M latest reported shares
Insider Ownership
6.73%
Latest reported insider stake
Short Float
0.12%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 81,022,000 |
| 2018-01-01 | 88,666,500 |
| 2019-01-01 | 91,995,000 |
| 2020-01-01 | 125,432,300 |
| 2021-01-01 | 139,989,300 |
| 2022-01-01 | 160,047,700 |
| 2023-01-01 | 161,778,000 |
| 2024-01-01 | 200,817,000 |
| 2025-01-01 | 243,658,000 |
| 2026-01-01 | 401,738,000 |
Top Holders
Available reported ownership records.
Scroll the table to see every column.
| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| Van Eck Associates Corporation | 9,132,037 | 5.56% | 2026-06-30 |
| VanEck Rare Earth & Strat Mtls ETF | 5,929,014 | 3.61% | 2026-10-31 |
| D. E. Shaw & Co LP | 5,866,986 | 3.58% | 2026-06-30 |
| Millennium Management LLC | 5,611,452 | 3.42% | 2026-06-30 |
| Jane Street Group LLC | 4,998,755 | 3.05% | 2026-06-30 |
| Connor Clark & Lunn Inv Mgmt Ltd | 3,844,463 | 2.34% | 2026-06-30 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 3,811,606 | 2.32% | 2026-06-30 |
| VanEck RreErth&StratMtlsETFA$Acc | 3,538,230 | 2.16% | 2026-10-30 |
| Multipartner Konwave Transtn Mtls C CHF | 3,167,791 | 1.93% | 2026-07-31 |
| Firetrail Investments Pty Limited | 2,899,513 | 1.77% | 2026-09-30 |
| Global X MSCI Argentina ETF | 2,801,627 | 1.71% | 2026-10-30 |
| SELDON CAPITAL LP | 1,858,689 | 1.13% | 2026-06-30 |
| Merewether Investment Management, LP | 1,540,027 | 0.94% | 2026-06-30 |
| L1 Capital Pty Ltd | 1,369,956 | 0.83% | 2026-06-30 |
| ALPS Advisors Inc | 951,633 | 0.58% | 2026-06-30 |
Lithium Americas: Earnings, Profitability & Valuation
Latest Financials Filed On
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
Lithium Americas currently generates zero commercial revenue while reporting ongoing operating losses, including a $64.3 million loss over the trailing twelve months. Intermittent quarterly net profits, such as $2.1 million in mid-2026, are non-cash accounting artifacts from revaluing financing derivatives and loan warrants rather than actual business earnings. This absence of sales is normal for a major mining project in active construction. Operating expenses primarily reflect administrative staffing and site management, while construction spending is capitalized into physical assets. Commercial revenue will not appear until chemical shipments begin under automotive contracts in 2028.
Lithium Americas currently generates zero commercial revenue while reporting ongoing operating losses, including a $64.3 million loss over the trailing twelve months. Intermittent quarterly net profits, such as $2.1 million in mid-2026, are non-cash accounting artifacts from revaluing financing derivatives and loan warrants rather than actual business earnings. This absence of sales is normal for a major mining project in active construction. Operating expenses primarily reflect administrative staffing and site management, while construction spending is capitalized into physical assets. Commercial revenue will not appear until chemical shipments begin under automotive contracts in 2028.
Revenue, Net Income, and Free Cash Flow
Latest: USD 0.00 | Max: USD 51.7M | Min: USD -840.7M
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: --
No history available.
Profitability & Margins
Margins and Operating Efficiency
AI Review
Accounting profit margins are currently meaningless because the business has no active product sales. Trailing operating deficits simply reflect pre-operational overhead costs expensed ahead of plant startup. Historical financial ratios reveal little about the company's true long-term earning power. Future profitability will depend on commercial production costs and realized contract prices. Thacker Pass is engineered to produce its own steam and electricity from an on-site acid plant, targeting low operating costs in the bottom half of global cost curves. If mid-cycle lithium prices hold, healthy operating margins should emerge once the plant reaches steady production.
Accounting profit margins are currently meaningless because the business has no active product sales. Trailing operating deficits simply reflect pre-operational overhead costs expensed ahead of plant startup. Historical financial ratios reveal little about the company's true long-term earning power. Future profitability will depend on commercial production costs and realized contract prices. Thacker Pass is engineered to produce its own steam and electricity from an on-site acid plant, targeting low operating costs in the bottom half of global cost curves. If mid-cycle lithium prices hold, healthy operating margins should emerge once the plant reaches steady production.
Profitability Margins
Latest: -40.4% | Max: -40.4% | Min: <-100.0%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
--
Gross profit / revenue
Operating Margin
--
Operating income / revenue
Net Margin
--
Net income / revenue
FCF Margin
--
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 620,000 | -22,127,000 | -11,525,000 |
| 2017-12-31 | 4,290,000 | -33,250,000 | -14,599,000 |
| 2018-12-31 | 4,843,000 | -28,267,000 | -20,546,000 |
| 2019-12-31 | 0 | 51,665,000 | -47,497,000 |
| 2020-12-31 | 0 | -26,549,129 | -20,917,000 |
| 2021-12-31 | 0 | -47,026,000 | -44,871,000 |
| 2022-12-31 | 0 | -67,798,000 | -57,620,000 |
| 2023-12-31 | 0 | -5,088,000 | -228,470,000 |
| 2024-12-31 | 0 | -42,528,000 | -190,706,000 |
| 2025-12-31 | 0 | -122,087,000 | -840,730,224 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
No reported records are available in this preview.
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | -98.71 | -3,568.87 | -3,568.87 | -1,858.87 |
| 2017-12-31 | -42.26 | -589.35 | -775.06 | -340.3 |
| 2018-12-31 | -40.41 | -583.67 | -583.67 | -424.24 |
| 2019-12-31 | Not reported | Not reported | Not reported | Not reported |
| 2020-12-31 | Not reported | Not reported | Not reported | Not reported |
| 2021-12-31 | Not reported | Not reported | Not reported | Not reported |
| 2022-12-31 | Not reported | Not reported | Not reported | Not reported |
| 2023-12-31 | Not reported | Not reported | Not reported | Not reported |
| 2024-12-31 | Not reported | Not reported | Not reported | Not reported |
| 2025-12-31 | Not reported | Not reported | Not reported | Not reported |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Snapshot retrieved 2026-11-10.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
Complete Research Workspace
Unlock the complete Profile & Fundamentals
Sign in to verify your access, or upgrade to the Base plan to open the complete profile & fundamentals and available source data.