Want to see AU:NVX full AI Analyst Report?
Top Page
NOVONIX Ltd
(Sydney:NVX)
Select Model
Select Model
Rating:42Neutral
Price Target:
AU$0.14
▼(-0.71% Downside)
Action:Reiterated
Date:06/18/26
The score is primarily held down by weak financial performance—widening losses and accelerating cash burn with rising leverage risk. Technicals add further pressure due to a clear downtrend and bearish momentum, while valuation is constrained by negative earnings (negative P/E) and no provided dividend yield.
Positive Factors
Strategic position in lithium-ion battery supply chain
NOVONIX serves two structurally growing markets—anode materials and battery testing/analytics—anchoring it in the EV and stationary storage buildout. This dual exposure supports durable demand as battery supply chains localize and OEMs scale qualification and materials sourcing.
Negative Factors
Persistent negative operating and free cash flow
Consistent negative operating and free cash flow represent a structural cash-burn dynamic that will require ongoing external funding. That dependence can dilute shareholders, constrain reinvestment timing, and create execution risk if capital markets tighten or if access to financing becomes more costly.
Read all positive and negative factors
Positive Factors
Negative Factors
Strategic position in lithium-ion battery supply chain
NOVONIX serves two structurally growing markets—anode materials and battery testing/analytics—anchoring it in the EV and stationary storage buildout. This dual exposure supports durable demand as battery supply chains localize and OEMs scale qualification and materials sourcing.
Read all positive factors
NOVONIX Ltd (NVX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$149.64M
Dividend YieldN/A
Average Volume (3M)4.26M
Price to Earnings (P/E)―
Beta (1Y)2.47
Revenue Growth-1.81%
EPS Growth8.33%
CountryAU
Employees192
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-0.15
Shares Outstanding997,613,000
10 Day Avg. Volume3,337,951
30 Day Avg. Volume4,257,492
Financial Highlights & Ratios
PEG Ratio0.45
Price to Book (P/B)1.82
Price to Sales (P/S)49.25
P/FCF Ratio-2.70
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.06
Revenue Forecast (FY)AU$147.40M
NOVONIX Ltd Business Overview & Revenue Model
Company Description
Based in Brisbane, Australia, and established in 2012, Novonix Limited is a prominent supplier of essential components, specialized machinery, and expert services to the burgeoning North American lithium-ion battery industry. The company's operati...
How the Company Makes Money
NOVONIX makes money primarily through (1) selling battery-grade synthetic graphite anode material and (2) providing battery testing, research, and analytics services.
1) Synthetic graphite anode materials sales: Revenue is generated by producing ...
NOVONIX Ltd Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
46
Neutral
Cash Flow
14
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.85M | 5.81M | 5.85M | 8.05M | 3.69M | 6.10M |
| Gross Profit | 4.08M | -25.19M | 4.08M | 5.24M | -20.63M | 4.38M |
| EBITDA | -66.61M | -49.31M | -66.61M | -38.86M | -35.57M | -46.18M |
| Net Income | -74.82M | -95.96M | -74.82M | -46.25M | -38.08M | -51.86M |
Balance Sheet | ||||||
| Total Assets | 226.10M | 283.11M | 226.10M | 263.34M | 277.42M | 302.98M |
| Cash, Cash Equivalents and Short-Term Investments | 42.56M | 84.21M | 42.56M | 78.63M | 99.04M | 142.74M |
| Total Debt | 70.42M | 100.35M | 70.42M | 132.83M | 40.37M | 41.41M |
| Total Liabilities | 88.51M | 125.86M | 88.51M | 79.41M | 51.37M | 51.85M |
| Stockholders Equity | 137.59M | 157.25M | 137.59M | 183.94M | 226.06M | 251.13M |
Cash Flow | ||||||
| Free Cash Flow | -70.32M | -105.94M | -70.32M | -55.42M | -29.65M | -113.02M |
| Operating Cash Flow | -40.42M | -43.67M | -40.42M | -36.23M | -12.89M | -29.23M |
| Investing Cash Flow | -18.17M | -34.00M | -18.17M | -11.74M | -16.10M | -106.80M |
| Financing Cash Flow | 25.21M | 113.73M | 25.21M | 29.31M | -531.57K | 180.69M |
NOVONIX Ltd Technical Analysis
Neutral
0.14
Price Trends
0.17
Negative
0.22
Negative
0.32
Negative
Market Momentum
>-0.01
Negative
51.71
Neutral
68.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:NVX, the sentiment is Neutral. The current price of 0.14 is below the 20-day moving average (MA) of 0.15, below the 50-day MA of 0.17, and below the 200-day MA of 0.32, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 51.71 is Neutral, neither overbought nor oversold. The STOCH value of 68.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:NVX.
NOVONIX Ltd 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 | AU$3.13B | -274.78 | -25.08% | ― | ― | 8.20% | |
42 Neutral | AU$149.64M | -0.80 | -63.74% | ― | -1.81% | 8.33% | |
42 Neutral | AU$19.48M | -22.50 | -7.13% | ― | -25.35% | 95.00% | |
41 Neutral | AU$26.03M | -1.08 | -107.26% | ― | ― | 71.99% | |
38 Underperform | AU$37.07M | -3.18 | -55.54% | ― | 1.93% | 44.44% | |
38 Underperform | AU$86.43M | -17.31 | -14.26% | ― | ― | -3.95% |
* Industrials Sector Average
AU:NVX
NOVONIX Ltd
0.16
-0.33
-68.37%
AU:SRL
Sunrise Energy Metals
19.00
17.68
1339.39%
AU:LIT
Lithium Australia NL
0.01
>-0.01
-9.09%
AU:NMT
Neometals Ltd
0.03
-0.02
-48.08%
AU:GT3
Suvo Strategic Minerals
0.03
>-0.01
-6.67%
AU:LIS
Li-S Energy Ltd
0.13
-0.03
-18.75%
NOVONIX Ltd Corporate Events
NOVONIX Advances Panasonic Deal as U.S. Policy Backs Domestic Graphite Push
Jul 29, 2026
NOVONIX has delivered a C-sample of synthetic graphite anode material to Panasonic Energy, with internal tests indicating it meets Panasonic’s specifications ahead of formal validation. The company reaffirmed its expectation for mass product...
NOVONIX Seeks ASX Quotation for 6 Million New Shares
Jul 21, 2026
NOVONIX Ltd has applied for quotation of 6,016,250 new ordinary fully paid shares on the ASX, with an issue date of July 22, 2026. The securities are being brought to market under the exchange’s standard listing rules framework, signalling a...
NOVONIX Raises A$962,600 in Share Purchase Plan to Boost Battery Materials Capacity
Jul 21, 2026
NOVONIX has closed its Share Purchase Plan, raising A$962,600 through the issue of 6,016,250 new shares at A$0.16 each to eligible retail investors. The proceeds will be used to fund capital expenditure aimed at supporting increased production cap...
NOVONIX Brings Forward Share Purchase Plan Closing Date
Jul 9, 2026
NOVONIX has revised the timetable for its Share Purchase Plan, bringing forward the closing date to July 17, 2026, from the previously announced August 14, 2026. The company has outlined an updated schedule for key milestones, including the announ...
NOVONIX launches share purchase plan to raise additional equity
Jun 21, 2026
NOVONIX Limited has opened a Share Purchase Plan, allowing eligible shareholders to subscribe for up to A$30,000 of new fully paid ordinary shares without brokerage or participation costs. The offer is scheduled to close on 14 August 2026, though ...
Novonix Raises Capital via Institutional Share Placement and Confirms Regulatory Compliance
Jun 21, 2026
Novonix Limited has issued 129,334,163 new fully paid ordinary shares at $0.16 each to institutional and sophisticated investors through an institutional placement conducted alongside a non-underwritten share purchase plan. The company stated that...
Novonix Seeks ASX Quotation for 129 Million New Shares
Jun 19, 2026
Novonix Ltd has applied to the ASX for quotation of 129,334,163 new fully paid ordinary shares, to be issued on June 22, 2026, under the code NVX. The application formalizes the listing of securities previously flagged to the market, expanding Nov...
NOVONIX Plans Major Equity Raise via Placement and Share Purchase Plan
Jun 17, 2026
NOVONIX Limited has outlined plans to issue up to 18,750,000 ordinary fully paid shares under a securities purchase plan, with a record date of 16 June 2026 and an offer period running until mid-August before settlement later that month. The compa...
NOVONIX Raises Capital to Expand Battery Materials Production Capacity
Jun 17, 2026
NOVONIX has secured firm commitments of approximately A$20.7 million through an institutional placement of fully paid ordinary shares at A$0.16, a steep discount to recent trading levels. In tandem, the company has launched a non-underwritten shar...
NOVONIX Appoints Interim CFO as Finance Chief Departs
Jun 9, 2026
NOVONIX has announced that Chief Financial Officer Robert Long will leave the company in July to pursue other opportunities, prompting a planned leadership transition in its finance function. To manage the change, current Chair Ron Edmonds will se...
Novonix Reports Lapse of 2.9 Million Performance Rights
May 27, 2026
Novonix Limited has announced changes to its issued capital, confirming that a tranche of performance rights on issue to stakeholders has lapsed. The affected securities, classified as performance rights under the code NVXAD, formed part of the co...
Novonix Adjusts Share Quotation Application After Minor Rounding Error
May 13, 2026
Novonix Limited has updated its recent application for quotation of securities lodged with the ASX, correcting the total number of new shares to be quoted from 784,819 to 784,817 due to a rounding adjustment. The change is entirely administrative ...
NOVONIX Seeks ASX Quotation for 784,819 New Ordinary Shares
May 13, 2026
NOVONIX Limited has applied for quotation on the ASX of 784,819 ordinary fully paid shares, formally recording the new securities under its NVX ticker. The shares, issued on May 13, 2026, arise from the exercise or conversion of existing options o...
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.