Novonix Limited(NVX)Earnings, Financials & Key Ratios
NVX•NASDAQ
$0.45
Price updated Jul 7, 2026
AboutNovonix Limited develops and supplies battery materials, equipment, and services to the lithium-ion battery market in North America. It operates through three segments: Graphite Exploration and Mining, Battery Technology, and Battery Materials. The Graphite Exploration and Mining segment explores for graphite in Australia. The Battery Technology segment develops battery cell testing equipment and batteries, and consulting services. The Battery Materials segment develops and manufactures battery anode materials. The company is also involved in the investment and battery testing activities. Novonix Limited has strategic alliance with Harper International Corporation to develop specialized furnace technology that would enhance Novonix's synthetic graphite manufacturing process; and partnership with Emera Technologies to develop and manufacture energy storage systems for community microgrids. The company was formerly known as Graphitecorp Limited and changed its name to Novonix Limited in July 2017. Novonix Limited was incorporated in 2012 and is headquartered in Brisbane, Australia.Show more
- Revenue$6M-4.0%
- EBITDA-$48M-1.6%
- Net Income-$93M-24.0%
- EPS (Diluted)-0.52+13.3%
- Gross Margin-433.3%-721.2%
- EBITDA Margin-848.25%-5.8%
- Operating Margin-929.63%-5.6%
- Net Margin-1650.76%-29.2%
- ROE-62.98%-35.3%
NVX Price & Volume
Novonix Limited (NVX) stock price & volume — 10-year historical chart
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Persistent Commercial Scaling Challenges Impede Profitability Trajectory
Investment Thesis • Updated 2025Q4
VerdictNegative
Growth:Mixed
Profitability:Negative
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Commercial scale execution failure
Key Thesis Takeaways
- Novonix faces a critical juncture as its transition from pilot-scale technology to high-volume commercial production remains stalled, evidenced by a 9.6% year-over-year revenue decline in 2025Q4.
- The company's reliance on debt-funded infrastructure, with total debt reaching $99.3M, creates significant financial pressure while the core business struggles to achieve unit-level economic viability.
- Investors should monitor the company's ability to bridge its $46.2M quarterly free cash flow deficit before existing liquidity buffers are exhausted.
Verdict Logic
the company's inability to scale revenue beyond $2.8M per quarter while maintaining a $46.2M quarterly cash burn suggests a high risk of further equity dilution or liquidity constraints.
NVX Growth Metrics
Novonix Limited (NVX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years75.58%
5 Years1.46%
3 Years14.48%
TTM-13.61%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-53.09%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-41.76%
Return on Capital
10 Years-25.07%
5 Years-21.2%
3 Years-24.14%
Last Year-27.57%
NVX Recent Earnings
Novonix Limited (NVX) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 5/12 qtrs (83%)●Beat Revenue 1/12 qtrs (17%)
Q1 2026Latest
Feb 26, 2026Metric
Actual
Est
EPS
$0.44-287.5%
$0.11
Rev
$3M-21.0%
$4M
Q3 2025
Aug 21, 2025Metric
Actual
Est
EPS
$0.13+49.7%
$0.26
Rev
$3M-12.3%
$3M
Q1 2025
Feb 28, 2025Metric
Actual
Est
EPS
$0.06+54.4%
$0.12
Rev
$2M-47.6%
$4M
Q4 2024
Oct 29, 2024Metric
Actual
Est
EPS
$0.04+77.8%
$0.18
Rev
$2M-36.0%
$3M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 26, 2026 | $0.44vs $0.11-287.5% | $3Mvs $4M-21.0% |
| Q3 2025 | Aug 21, 2025 | $0.13vs $0.26+49.7% | $3Mvs $3M-12.3% |
| Q1 2025 | Feb 28, 2025 | $0.06vs $0.12+54.4% | $2Mvs $4M-47.6% |
| Q4 2024 | Oct 29, 2024 | $0.04vs $0.18+77.8% | $2Mvs $3M-36.0% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Novonix Limited (NVX)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $0.45 | $66.49M | -0.86 | -3.98% | -1650.76% | -62.98% | — | |
| $0.50 | $44.33M | -5.00 | 10.52% | -7.43% | -0.06% | — | |
| $1.07 | $356.48M | -11.89 | 12.56% | -11.52% | -10.76% | — | |
| $15.80 | $1.11B | -8.78 | -14.93% | -0.79% | -2.01% | — | |
| $9.24 | $182.17M | -2.90 | -0.05% | -27.37% | — | — | |
| $42.99 | $5.67B | 33.33 | 10.72% | 9.64% | 13.28% | — |
Compare NVX vs Peers
Novonix Limited (NVX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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NVX Frequently Asked Questions
Novonix Limited (NVX) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Novonix Limited's revenue?
Novonix Limited (NVX) reported $11.5M in revenue for fiscal year 2025.
How fast is Novonix Limited growing?
Novonix Limited (NVX) saw revenue decline by 4.0% over the past year.
Is NVX profitable?
Novonix Limited (NVX) reported a net loss of $167.5M for fiscal year 2025.
Dividend & Returns
What is NVX's return on equity?
Novonix Limited (NVX) has a return on equity (ROE) of -63.0%. Negative ROE indicates the company is unprofitable.
What is Novonix Limited's free cash flow?
Novonix Limited (NVX) had negative free cash flow of $172.6M in fiscal year 2025, likely due to heavy capital investments.