Latest Ratios: P/E Ratio -26.5x · EV/EBITDA N/A · ROE -20.6%. (2012–2025 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 | $6.4B | $5.4B | $3.7B | $3.7B | $2.1B | $2.0B | $1.0B | $515M | $701M | $824M | $517M |
| Enterprise Value | $6.2B | $5.2B | $3.6B | $3.7B | $2.2B | $1.9B | $1.2B | $586M | $714M | $831M | $557M |
| P/E Ratio → | -26.46 | — | — | 46.67 | — | — | — | — | 306.90 | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 4.42 | 2.96 | 3.11 | 4.52 | 4.67 | 4.35 | 8.58 | 2.77 | 3.85 | 5.56 | 4.34 |
| 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 | — | — | — | — | — | — | — | — | 281.80 | — | — |
| EV / EBIT | — | — | — | 49.76 | — | — | — | — | — | — | — |
| 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 | -20.6% | -20.6% | -7.8% | 12.7% | -12.3% | -41.0% | -56.4% | -6.5% | 1.4% | -41.9% | -15.4% |
| ROA | -15.0% | -15.0% | -5.8% | 10.3% | -10.3% | -26.3% | -25.7% | -3.7% | 0.7% | -21.7% | -11.5% |
| ROIC | -4.9% | -4.9% | -5.7% | -9.5% | -11.0% | -12.6% | -5.2% | -6.6% | 0.5% | -22.4% | -11.7% |
| ROCE | -5.9% | -5.9% | -7.6% | -13.3% | -12.0% | -11.5% | -5.6% | -6.3% | 0.4% | -18.4% | -12.0% |
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 | 0.32 | 0.32 | 0.39 | 0.39 | 0.36 | 0.16 | 1.94 | 0.66 | 0.76 | 1.16 | 0.60 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | 54.51 | — | — |
| Net Debt / Equity | — | -0.12 | -0.02 | 0.03 | 0.06 | -0.27 | 1.32 | 0.38 | 0.07 | 0.04 | 0.33 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | 5.18 | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -1.92 | -1.92 | -2.40 | 12.00 | -24.70 | -30.50 | -5.77 | -0.23 | -2.17 | -2.06 | -4.46 |
Net cash position: cash ($802M) exceeds total debt ($586M)
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 | 1.82 | 1.82 | 1.03 | 1.65 | 1.49 | 26.00 | 10.24 | 11.17 | 19.29 | 54.95 | 32.71 |
| Quick Ratio | 1.82 | 1.82 | 1.03 | 1.65 | 1.49 | 26.00 | 10.24 | 11.17 | 19.29 | 54.95 | 32.71 |
| Cash Ratio | 1.78 | 1.78 | 1.00 | 1.56 | 1.45 | 25.73 | 10.11 | 10.89 | 19.19 | 54.72 | 32.35 |
| 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 | — | — | — | 2.1% | — | — | — | — | 0.3% | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 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% | 0.0% |
| Shares Outstanding | — | $588M | $555M | $529M | $480M | $459M | $371M | $403M | $394M | $322M | $300M |
Capital intensive project execution
As reported in financial statements, NexGen's P/B ratio of 4.45x suggests that the market is pricing in significant future value for the Rook I project, placing it at a premium compared to earlier-stage explorers but below the valuation multiples of established, diversified producers like Cameco.
The current valuation appears to be driven by the scarcity of high-grade, permitted uranium assets in stable jurisdictions rather than near-term earnings, which remain negative. Investors should monitor whether this premium holds as the company transitions from exploration to the more execution-heavy construction phase.
Based on the provided financial data, NexGen's ROIC has remained consistently negative, hovering around -1.1% to -1.9% in recent quarters, which is a structural outcome of the company's current development-stage status where capital is deployed into non-productive mineral assets rather than revenue-generating operations.
The inability to generate positive returns on invested capital is expected for a pre-production mining entity, but it highlights the long-term risk of capital erosion if project timelines are delayed. The trend warrants further investigation into whether the company can eventually achieve the high-margin returns implied by the Arrow deposit's geological profile.
According to the 2026Q1 balance sheet, the company maintains a current ratio of 1.37x, which indicates an adequate short-term liquidity position, though this buffer has tightened from the 1.96x observed in 2024Q1 as the company accelerates its capital-intensive development activities for the Rook I project.
While the current ratio suggests the company can meet its immediate obligations, the rapid decline in cash reserves underscores the necessity for continued access to capital markets. Investors should monitor the burn rate closely, as any unforeseen cost overruns could quickly strain this liquidity position before the project reaches commercial production.
As indicated by recent quarterly filings, NexGen's debt-to-equity ratio has risen to 0.42 in 2026Q1, reflecting a strategic shift toward utilizing external financing to fund the multi-year construction requirements of the Rook I project in the Athabasca Basin.
The increase in leverage is a deliberate move to bridge the funding gap, but it introduces interest rate sensitivity and potential covenant risks that were not present in earlier, equity-only funding stages. The negative interest coverage ratio confirms that the company currently relies on cash reserves and external capital to service its debt obligations.
The P/E ratio is fundamentally misapplied to NexGen, as the company's negative earnings of -26.60x TTM reflect accounting expenses related to exploration and development rather than operational failure, rendering traditional valuation metrics ineffective for assessing the true economic potential of the Rook I asset.
Analysts should instead focus on the Net Present Value (NPV) of the project and the Internal Rate of Return (IRR) derived from feasibility studies, as these metrics better capture the value of the underlying mineral resource. Relying on P/E or EBITDA multiples for a pre-revenue developer obscures the long-term value creation potential and may lead to incorrect conclusions regarding the company's financial health.
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying NXE stock.
NexGen Energy Ltd.'s current P/E ratio is -26.5x. The historical average is 46.7x.
NexGen Energy Ltd.'s return on equity (ROE) is -20.6%. The historical average is -18.1%.
Based on historical data, NexGen Energy Ltd. is trading at a P/E of -26.5x. Compare with industry peers and growth rates for a complete picture.