NOVONIX Ltd
NOVONIX Ltd is a developer and manufacturer of lithium-ion battery materials and equipment, primarily serving the energy storage and electric vehicle industries.
Business. NOVONIX Ltd (NVX.O) is an industrial goods company operating within the Electrical Components & Equipment industry. The firm generates revenue through the sale of products, though specific operating segments and geographic breakdowns are not disclosed. NOVONIX is primarily listed on the NASDAQ stock exchange.
Analyst recommendations
1 analysts · consensus BuyAt a glance
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- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
NOVONIX Ltd (NVX.O) is an industrial goods company operating within the Electrical Components & Equipment industry. The firm generates revenue through the sale of products, though specific operating segments and geographic breakdowns are not disclosed. NOVONIX is primarily listed on the NASDAQ stock exchange.
NOVONIX operates with a market capitalization of $134.17 million and a price-to-book ratio of 0.83, indicating a discount to its book value. The company's liquidity position is assessed as medium, with a current ratio of 1.07 and negative free cash flow of -$148.34 million. The debt-to-equity ratio of 0.62 suggests a moderate level of leverage, with long-term debt of $100.34 million against total equity of $161.67 million.
Profitability metrics are negative, with a return on equity of -57.35% and a return on assets of -32.77%. The company reported a net loss of $92.73 million, with operating income also in the red at -$92.51 million. Gross profit was -$20.91 million, indicating significant cost pressures or pricing challenges.
Geographically and segment-wise, NOVONIX's revenue concentration is not disclosed in the available data. However, the company's exposure to the lithium-ion battery market is notable, with operations spanning material development, cell manufacturing, and equipment supply. The company's business is highly dependent on the growth of the electric vehicle and energy storage sectors.
Looking ahead, NOVONIX is expected to face continued financial pressure, with a mean EPS estimate of -$0.21 for the upcoming period, compared to a last actual EPS of -$0.44. The company's capital expenditures of -$60.18 million suggest ongoing investment in infrastructure, but this is being funded by negative operating cash flow of -$42.20 million. The outlook for the next fiscal year is not explicitly provided, but the current trajectory suggests continued losses.
Risk factors include liquidity constraints, with the company reporting negative net cash after subtracting total debt. The risk of dilution is assessed as low, but the company's financial performance and cash flow challenges remain significant concerns. The company has not issued any recent equity, and there is no indication of near-term dilution pressure.
Recent events include the continued development of battery materials and equipment, with a focus on scaling production and improving efficiency. The company has not disclosed any major regulatory or legal issues, but the competitive landscape in the battery materials sector is intense, with several large players dominating the market.
- NOVONIX is trading at a discount to book value, with a price-to-book ratio of 0.83.
- The company is experiencing significant financial losses, with a net loss of $92.73 million and a return on equity of -57.35%.
- Liquidity is a concern, with negative free cash flow and a current ratio of 1.07.
- The company is investing in capital expenditures despite negative operating cash flow.
- The outlook for the next fiscal year is uncertain, with a mean EPS estimate of -$0.21.
Bull / Bear case
Generated · model-assistedIn focus — financials by report
Valuation
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Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | -0,21 |
| Revenue | —no estimate | —no estimate | 7,8M USD |
| Operating income | —no estimate | —no estimate | —no estimate |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
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Risk factors
- Net cash is negative after subtracting total debt.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
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Derivative transactions
- Chief Operating Officer · Performance rights (time based) → Ordinary sharesDisposed 258 883other · 2026-05-27
- Chief Operating Officer · Performance rights (time based) → Ordinary sharesDisposed 258 884other · 2026-05-27
- Chief Operating Officer · Performance rights → Ordinary sharesDisposed 1 724 285other · 2026-05-27
- Chief Operating Officer · Performance rights → Ordinary sharesDisposed 173 062other · 2026-05-27
- Chief Operating Officer · Performance rights (Time based) → Ordinary sharesDisposed 258 884other · 2026-05-27
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- Market Capmarket_price * shares_outstanding_diluted
- Ev To Revenueenterprise_value / revenue
- NOVONIX Ltd Market data — financials · 2026-05-28
- NOVONIX Ltd Market data — analyst estimates · 2026-05-28
Ownership & reference
Top holders
- Investment Managers · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$0M
- Brokerage Firms · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Brokerage Firms · as of 2026-03-310,00 %$0M
- Institutional Investor · as of 2026-03-310,00 %$0M
Insider activity
- Director · Ordinary sharesOther 81 606 · 2026-04-01
- Director · Ordinary sharesOther 230 343 · 2026-04-01
- Director · Ordinary sharesOther 148 737 · 2026-04-01