Latest Ratios: P/E Ratio -13.1x · EV/EBITDA N/A · ROE -102.9%. (1999–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $643M | $105M | $59M | $144M | — | — | — | — | — | — | — |
| Enterprise Value | $617M | $80M | $65M | $153M | — | — | — | — | — | — | — |
| P/E Ratio → | -13.11 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 7.30 | 3.60 | 23.43 | — | — | — | — | — | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -102.9% | -102.9% | -451.3% | -911.1% | -70.5% | -60.9% | -106.8% | -182.4% | -279.3% | -322.1% | -203.6% |
| ROA | -51.0% | -51.0% | -55.8% | -183.5% | -46.1% | -27.2% | -36.2% | -65.8% | -75.3% | -110.0% | -85.1% |
| ROIC | -148.0% | -148.0% | -258.9% | -345.4% | -35.0% | -25.2% | -33.5% | -56.0% | -52.2% | -120.6% | -92.7% |
| ROCE | -37.4% | -37.4% | -108.0% | -213.4% | -40.8% | -34.8% | -77.6% | -97.8% | -99.2% | -154.2% | -103.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 3.10 | — | 0.24 | 0.82 | 1.99 | 0.68 | 1.99 | 1.81 | 1.21 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.87 | 2.31 | — | -0.06 | 0.27 | 1.87 | 0.60 | 1.96 | 1.73 | 0.49 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -373.63 | -373.63 | -1.68 | -16.39 | -2.85 | -2.13 | -10.30 | -26.58 | -21.66 | -49.45 | -21.07 |
Net cash position: cash ($26M) exceeds total debt ($131000)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | — | — | 0.24 | 1.05 | 1.12 | 1.87 | 0.04 | 0.08 | 0.14 | 0.10 | 2.00 |
| Quick Ratio | — | — | 0.24 | 1.05 | 1.12 | 1.87 | 0.04 | 0.08 | 0.14 | 0.10 | 2.00 |
| Cash Ratio | — | — | 0.17 | 0.66 | 1.04 | 1.87 | 0.04 | 0.07 | 0.02 | 0.04 | 1.96 |
| Asset Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — | — | — |
| Shares Outstanding | — | $45M | $34M | $29M | $26M | $24M | $23M | $22M | $21M | $19M | $16M |
Project financing execution risk
Based on reported financial statements, NioCorp's P/B ratio of 7.03 suggests that investors are pricing the company significantly above its book value, reflecting high expectations for the Elk Creek project's future potential despite the absence of current revenue or positive earnings to support traditional valuation multiples.
The elevated P/B ratio indicates that the market is assigning substantial value to the company's intangible assets, specifically the geological uniqueness of the Elk Creek deposit and its strategic importance. Investors should monitor whether this premium holds as the company approaches the critical financing milestones required to transition from a development-stage entity to an operational producer.
According to recent quarterly data, NioCorp's ROIC has remained deeply negative, reaching -70.4% in 2026Q3, which is typical for a pre-revenue mining firm that is currently consuming capital to build infrastructure rather than generating returns on its invested capital base.
The persistent negative ROIC highlights the heavy burden of non-productive capital expenditures currently being deployed. This trend warrants further investigation as the company moves closer to commercial production, as the ability to eventually generate positive returns will depend entirely on the efficiency of the hydrometallurgical processing facility.
As reported in recent financial filings, NioCorp's current ratio improved dramatically to 31.08 in 2026Q3, providing a substantial liquidity cushion that appears sufficient to sustain the company's current burn rate while it navigates the complex permitting and financing requirements for the Elk Creek project.
This high liquidity position is a direct result of recent capital raises, which have successfully de-risked the company's immediate solvency. However, investors should remain cautious, as this liquidity is intended for massive future capital expenditures rather than operational sustainability, meaning the current ratio may contract rapidly once construction commences.
Based on reported figures, analysts often misapply traditional profitability metrics like P/E or Net Margin to NioCorp, which obscures the reality that the company is a development-stage project where cash burn and financing progress are the only meaningful indicators of long-term viability.
Using earnings-based ratios for a pre-revenue miner is fundamentally flawed because it ignores the massive, non-recurring capital investments that define the business model. Instead, investors should focus on the 'Cash Burn Rate' and 'Project Financing Progress' to assess whether the company can reach commercial production without excessive shareholder dilution.
Includes 30+ ratios · 24 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying NB stock.
NioCorp Developments Ltd.'s current P/E ratio is -13.1x. This places it at the 50th percentile of its historical range.
NioCorp Developments Ltd.'s return on equity (ROE) is -102.9%. The historical average is -183.1%.
Based on historical data, NioCorp Developments Ltd. is trading at a P/E of -13.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.