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NOVONIX Ltd Sponsored ADR
(NASDAQ:NVX)
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Rating:43Neutral
Price Target:
$2.50
▲(468.18% Upside)
Action:Reiterated
Date:08/29/26
The score is primarily constrained by weak financial performance: deeply negative margins, widening losses, and accelerating cash burn, with leverage trending higher. Technicals also weigh on the score as the stock remains in a pronounced downtrend with bearish momentum. Valuation provides limited offset because the negative P/E reflects loss-making operations and no dividend support is indicated.
Positive Factors
2025 Revenue Rebound
The 2025 revenue rebound indicates stronger commercial activity and potential customer demand across NOVONIX’s battery materials and technology offerings. If this growth persists, greater scale could improve capacity utilization, support customer adoption, and provide a foundation for eventual operating leverage.
Negative Factors
Severe Unprofitability
Extremely negative gross and net margins show that NOVONIX’s current operations are not covering the cost base, despite the revenue rebound. Persistent losses can constrain reinvestment, weaken negotiating flexibility, and make the planned manufacturing scale-up dependent on successful execution and additional funding.
Read all positive and negative factors
Positive Factors
Negative Factors
2025 Revenue Rebound
The 2025 revenue rebound indicates stronger commercial activity and potential customer demand across NOVONIX’s battery materials and technology offerings. If this growth persists, greater scale could improve capacity utilization, support customer adoption, and provide a foundation for eventual operating leverage.
Read all positive factors
NOVONIX Ltd Sponsored ADR (NVX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$68.44M
Dividend YieldN/A
Average Volume (3M)28.66K
Price to Earnings (P/E)―
Beta (1Y)1.01
Revenue Growth-52.63%
EPS Growth-7.51%
CountryUS
Employees192
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-0.73
Shares Outstanding24,944,614
10 Day Avg. Volume50,466
30 Day Avg. Volume28,661
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)1.10
Price to Sales (P/S)30.62
P/FCF Ratio-1.68
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-2.4
Revenue Forecast (FY)$3.35M
NOVONIX Ltd Sponsored ADR Business Overview & Revenue Model
Company Description
Novonix Limited (NVX) is a Brisbane, Australia-headquartered firm, established in 2012 (and known as Graphitecorp Limited until its rebranding in July 2017). The company is a key provider of battery materials, specialized equipment, and ancillary ...
How the Company Makes Money
NOVONIX makes money primarily through (1) selling battery anode materials and (2) providing battery testing and related services. On the materials side, revenue is generated from the manufacture and sale of synthetic graphite anode material used b...
NOVONIX Ltd Sponsored ADR Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
44
Neutral
Cash Flow
16
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.84M | 5.62M | 5.85M | 8.05M | 3.75M | 6.10M |
| Gross Profit | -9.49M | -24.36M | 4.08M | 5.24M | 2.78M | 4.38M |
| EBITDA | -66.41M | -77.13M | -66.61M | -38.86M | -36.08M | -46.18M |
| Net Income | -74.63M | -92.79M | -74.82M | -46.25M | -38.63M | -51.86M |
Balance Sheet | ||||||
| Total Assets | 226.10M | 282.83M | 226.10M | 263.34M | 277.42M | 302.98M |
| Cash, Cash Equivalents and Short-Term Investments | 42.56M | 84.12M | 42.56M | 78.63M | 99.04M | 142.74M |
| Total Debt | 70.42M | 99.27M | 70.42M | 68.22M | 40.37M | 41.41M |
| Total Liabilities | 88.51M | 125.73M | 88.51M | 79.41M | 51.37M | 51.85M |
| Stockholders Equity | 137.59M | 157.10M | 137.59M | 183.94M | 151.39M | 251.13M |
Cash Flow | ||||||
| Free Cash Flow | -55.32M | -102.45M | -70.32M | -55.42M | -29.65M | -113.02M |
| Operating Cash Flow | -40.26M | -42.23M | -40.42M | -36.23M | -13.08M | -29.23M |
| Investing Cash Flow | -22.97M | -32.88M | -18.17M | -11.74M | -16.33M | -106.80M |
| Financing Cash Flow | 24.64M | 109.98M | 25.21M | 29.31M | -539.22K | 180.69M |
NOVONIX Ltd Sponsored ADR Technical Analysis
Negative
0.44
Price Trends
4.02
Negative
5.30
Negative
7.50
Negative
Market Momentum
-0.40
Positive
27.21
Positive
6.30
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NVX, the sentiment is Negative. The current price of 0.44 is below the 20-day moving average (MA) of 3.69, below the 50-day MA of 4.02, and below the 200-day MA of 7.50, indicating a bearish trend. The MACD of -0.40 indicates Positive momentum. The RSI at 27.21 is Positive, neither overbought nor oversold. The STOCH value of 6.30 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NVX.
NOVONIX Ltd Sponsored ADR Risk Analysis
NOVONIX Ltd Sponsored ADR disclosed 1 risk factors in its most recent earnings report. NOVONIX Ltd Sponsored ADR reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
NOVONIX Ltd Sponsored ADR Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
52 Neutral | $3.16B | -1.60 | -176.19% | ― | 10.59% | 41.83% | |
50 Neutral | $761.49M | -3.95 | -66.93% | ― | 34.88% | -18.59% | |
49 Neutral | $1.42B | -4.83 | -22.15% | ― | 1.09% | 62.70% | |
43 Neutral | $68.44M | -0.55 | -63.44% | ― | -52.63% | -7.51% | |
41 Neutral | $15.26M | -0.13 | -1934.84% | ― | -119.02% | 53.13% | |
41 Neutral | $2.44M | -0.09 | 256.59% | ― | ― | 67.65% |
* Industrials Sector Average
NVX
NOVONIX Ltd Sponsored ADR
2.74
-9.96
-78.43%
FCEL
Fuelcell Energy
16.57
10.87
190.70%
PLUG
Plug Power
2.17
0.73
50.69%
GWH
ESS Tech
0.38
-1.07
-73.93%
ENVX
Enovix
3.16
-5.99
-65.46%
SDST
Stardust Power
0.16
-2.54
-94.15%
NOVONIX Ltd Sponsored ADR Corporate Events
NOVONIX Tightens Focus on U.S. Graphite Push with Panasonic Progress and BTS Sale
Sep 2, 2026
For the six months ended June 30, 2026, NOVONIX advanced its core synthetic graphite strategy while recording a $24.6 million loss and a reduction in cash to $59.5 million, largely due to investment at its Riverside facility. The company delivered...
Novonix Director Increases Shareholding Through Share Purchase Plan
Jul 24, 2026
On July 24, 2026, Novonix Limited reported to U.S. regulators a change in the equity holdings of director Sharan Burrow, as disclosed in an ASX Appendix 3Y filing. The notice reflects a routine update to director interests, indicating continued al...
NOVONIX Gains ASX Waivers to Advance Discounted Share Purchase Plan
Jul 8, 2026
NOVONIX Limited, listed on Nasdaq and the ASX, is a leading battery materials and technology producer of synthetic graphite anode materials for lithium-ion batteries, serving energy storage, electric vehicle and industrial customers across a growi...
NOVONIX Adds New ASX-Quoted Shares After Employee Performance Rights Vest
Jul 2, 2026
On July 2, 2026, NOVONIX Limited filed an application with the ASX for the quotation of additional ordinary fully paid shares under its existing NVX class. The move results from the vesting and conversion of employee performance rights into 34,824...
NOVONIX Outlines Pay Package for Interim CFO as Board Chair Role Shifts
Jul 1, 2026
On July 1, 2026, NOVONIX Limited detailed the remuneration package for director Ron Edmonds in connection with his previously announced appointment as Interim Chief Financial Officer, following the June 9, 2026 departure of former CFO Robert Long....
NOVONIX Cuts Performance Rights After Conditions Lapse
Jun 30, 2026
NOVONIX Limited is an Australia-based company whose securities are listed on the ASX under the code NVX, with sponsored ADRs trading in the U.S. market. The group has a substantial issued capital base, including nearly one billion ordinary fully p...
NOVONIX Ships First North American Mass-Production Anode Material Sample to Panasonic
Jun 11, 2026
On June 11, 2026, NOVONIX announced it had delivered a mass production qualification C-sample of its North American-made synthetic graphite anode active material to lead customer Panasonic Energy. This represents the first known C-sample of its ty...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.