Latest Ratios: P/E Ratio -3.2x · EV/EBITDA N/A · ROE -90.0%. (2011–2025 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 | $252M | $382M | $180M | $157M | $212M | $300M | $213M | $35M | $29M | $34M | — |
| Enterprise Value | $214M | $327M | $93M | $178M | $214M | $242M | $223M | $36M | $28M | $24M | — |
| P/E Ratio → | -3.22 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 4.30 | 4.79 | 1.17 | 2.88 | 2.94 | 2.84 | — | 6.79 | 1.22 | 1.77 | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | 30.48 | — | — |
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 | — | — | — | — | — | 6.13 | 12.76 | — | — | — | — |
| 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 | -90.0% | -90.0% | -0.1% | -88.3% | -53.6% | -78.6% | -3530.5% | -91.1% | -37.4% | -36.4% | -31.9% |
| ROA | -55.5% | -55.5% | -0.0% | -40.9% | -34.5% | -55.8% | -119.8% | -51.5% | -26.9% | -32.4% | -29.8% |
| ROIC | -96.1% | -96.1% | -0.1% | -55.4% | -68.1% | 107.8% | 215.0% | -68.6% | -24.1% | -32.3% | -31.8% |
| ROCE | -48.5% | -48.5% | -0.1% | -44.8% | -45.1% | 64.7% | 237.1% | -72.3% | -20.2% | -22.6% | -33.4% |
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 | 0.24 | 0.24 | 0.12 | 1.06 | 0.85 | 0.04 | — | 0.76 | 0.14 | — | — |
| Debt / EBITDA | — | — | — | — | — | 0.11 | 0.78 | — | — | — | — |
| Net Debt / Equity | — | -0.69 | -0.57 | 0.39 | 0.02 | -0.55 | — | 0.13 | -0.02 | -0.52 | -0.30 |
| Net Debt / EBITDA | — | — | — | — | — | -1.46 | 0.57 | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -36.84 | -36.84 | -161.27 | -3.93 | -26.35 | -16.10 | -16.94 | -49.62 | -709.25 | -1044.18 | -317.12 |
Net cash position: cash ($74M) exceeds total debt ($19M)
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 | 0.87 | 0.87 | 2.43 | 3.58 | 4.59 | 4.72 | 0.98 | 0.97 | 0.96 | 7.81 | 4.68 |
| Quick Ratio | 0.87 | 0.87 | 2.43 | 3.58 | 4.59 | 4.72 | 0.98 | 0.97 | 0.96 | 7.81 | 4.68 |
| Cash Ratio | 0.82 | 0.82 | 2.26 | 3.03 | 3.72 | 3.96 | 0.44 | 0.43 | 0.57 | 6.37 | 3.54 |
| 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% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Shares Outstanding | — | $154M | $113M | $60M | $56M | $43M | $26M | $23M | $15M | $10M | $6M |
Commercialization and Dilution Risk
As reported in financial statements, NMG's ROIC has fluctuated between -93.3% and 25.5% over the last ten quarters, reflecting the inherent instability of a development-stage entity that lacks consistent operational cash flows to support its significant capital base.
The extreme variance in ROIC suggests that the company's capital allocation is currently driven by project-specific milestones and non-recurring financing events rather than sustainable operational performance. Investors should monitor whether these returns stabilize once the Bécancour facility reaches commercial scale, as current figures are heavily distorted by the absence of revenue.
According to recent quarterly filings, NMG's current ratio has deteriorated significantly from a peak of 3.58 in 2023Q4 to 0.73 in 2026Q1, indicating a tightening liquidity position that may limit the company's operational flexibility as it navigates the final stages of its facility construction.
A current ratio below 1.0 suggests that the company's short-term obligations are beginning to outpace its liquid assets, which warrants further investigation into the timing of future capital raises. This trend appears to reflect the heavy cash burn required to advance the Matawinie mine without the benefit of offsetting commercial revenue.
Based on the provided financial data, NMG's interest coverage ratio has remained consistently negative, reaching -55.41 in 2026Q1, which underscores the company's inability to service its debt obligations through core operations during this capital-intensive development phase.
While the debt-to-equity ratio has remained relatively contained, the lack of positive operating income suggests that the company remains reliant on external financing to meet its interest payments. This reliance on external capital markets may expose shareholders to further dilution if the company is unable to reach commercial production on schedule.
As noted in industry research, the market often misapplies traditional mining P/B multiples to NMG, which obscures the company's true nature as a specialty chemical processor with significant proprietary technology and vertical integration advantages.
Investors should prioritize evaluating the company based on its potential for long-term margin expansion through its purification and coating processes rather than just its raw material extraction capacity. Relying on standard mining valuation metrics may lead to an undervaluation of the strategic value inherent in its North American supply chain positioning.
Includes 30+ ratios · 15 years · Updated daily
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Quick answers to the most common questions about buying NMG stock.
Nouveau Monde Graphite Inc.'s current P/E ratio is -3.2x. This places it at the 50th percentile of its historical range.
Nouveau Monde Graphite Inc.'s return on equity (ROE) is -90.0%. The historical average is -60.9%.
Based on historical data, Nouveau Monde Graphite Inc. is trading at a P/E of -3.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.