Neptune Digital Assets (NDA) AI Stock Analysis

• Market Cap: C$100.06M
• Dividend Yield: N/A
• Average Volume (3M): 337.75K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.56
• Revenue Growth: -21.21%
• EPS Growth: -84.82%
• Country: CA
• Employees: 3
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): N/A
• Shares Outstanding: 128,281,100
• 10 Day Avg. Volume: 272,697
• 30 Day Avg. Volume: 337,753
• PEG Ratio: -4.28
• Price to Book (P/B): 1.86
• Price to Sales (P/S): 74.90
• P/FCF Ratio: -51.07
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$3.00
• Price Target Upside: 294.74% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: C$0.73 ▼(-3.55% Downside)
• Action: Reiterated Date: 02/01/26
• Date: Action: Reiterated 02/01/26

The score is held down primarily by weak financial performance (recent losses, earnings volatility, and persistent negative operating/free cash flow). Technicals also lean bearish with the stock below major moving averages and negative MACD, while valuation provides limited support due to a negative P/E and no dividend yield data.

Positive Factors

Manageable Leverage

A low debt-to-equity (~0.20) provides balance-sheet flexibility and lowers financial distress risk. This durable conservatism supports the firm through cyclical crypto markets, reducing refinancing pressure while preserving capacity to raise capital or absorb mining volatility over the medium term.

Solid Gross Margin

A gross margin near 47% indicates strong unit economics for core operations (mining and asset management). High gross margins create room to cover fixed costs and invest in efficiency, improving the probability of returning to operating profitability as revenues stabilize or costs are optimized.

Diversified Digital-asset Model

Combining mining operations with an investment portfolio gives diversified, structural exposure to digital assets. This model captures both production income and appreciation potential, offering strategic optionality and multiple revenue levers that can scale independently over the medium term.

Negative Factors

Persistent Negative Cash Flow

Consistent negative operating and free cash flow increases dependence on external financing or asset sales to fund operations. Over several quarters this erodes resilience, risks dilution or forced disposals, and constrains capital for scaling mining capacity or portfolio diversification.

Volatile, Weak Profitability

The company shows large net losses and volatile operating results, indicating inconsistent earnings quality. Persistent operating losses hamper reinvestment, make planning difficult, and raise the likelihood of episodic write-downs or restructuring that can impair long-term return generation.

Declining Revenue Trend

A substantial revenue decline (~-21% per the fundamentals metric) reduces scale benefits and pressures margins and returns. Sustained top-line contraction suggests weaker demand or operational setbacks, making recovery harder without clear revenue drivers or significant operational improvements.

Neptune Digital Assets Business Overview & Revenue Model

Company Description

Neptune Digital Assets Corp. builds, owns, and operates digital currency infrastructure assets in Canada. The company stakes and lends various digital currencies. It invests in digital asset ecosystem, including Bitcoin mining, staking cryptocurrencies, decentralized finance, yield farming, and liquidity mining, as well as operates blockchain nodes and other associated blockchain technology projects. The company is headquartered in Vancouver, Canada.

How the Company Makes Money

Neptune Digital Assets generates revenue through a variety of channels within the digital finance ecosystem. The company's primary revenue streams include the appreciation and trading of its cryptocurrency holdings, staking, and yield generation from DeFi protocols. Additionally, Neptune Digital Assets may engage in mining operations, earning block rewards and transaction fees from validating transactions on various blockchain networks. The company also leverages strategic partnerships and collaborations within the blockchain industry to enhance its investment portfolio and maximize returns. By actively managing and optimizing its digital asset portfolio, Neptune Digital Assets seeks to capitalize on market opportunities and deliver value to its stakeholders.

Neptune Digital Assets Financial Statement Overview

Summary

Overall fundamentals are weak: revenue is modest and slightly down (~-3.5% TTM), profitability has swung to a large net loss with deeply negative operating results, and operating/free cash flow remain negative across all shown periods. The main offset is a relatively conservative balance sheet with manageable leverage (debt-to-equity ~0.20).

Income Statement

TTM (Trailing-Twelve-Months) revenue is modest and slightly down (about -3.5%), and profitability is weak with a large net loss and deeply negative operating results despite a healthy gross margin (~47%). The prior annual period showed a small profit and strong margin profile, but results have been volatile over time with frequent losses, suggesting earnings quality and business consistency remain key concerns.

Balance Sheet

Leverage appears manageable: debt is moderate relative to equity in TTM (debt-to-equity ~0.20) and the company has historically operated with little to no debt. However, returns on equity are very low (around ~0.5% in both TTM and the latest annual period), indicating the balance sheet is not translating into strong shareholder profitability.

Cash Flow

Cash generation is a clear weak spot: operating cash flow and free cash flow are negative across all shown periods, including TTM. While TTM free cash flow was less negative versus the prior annual period (positive free cash flow growth), the business is still consuming cash, which increases reliance on financing or asset sales if this persists.

Breakdown	Nov 2025	Nov 2024	Nov 2023	Feb 2023	Nov 2021
Income Statement
Total Revenue	1.78M	2.41M	2.90M	4.19M	358.70K
Gross Profit	781.27K	796.91K	594.14K	-1.91M	180.94K
EBITDA	1.41M	-1.60M	-1.55M	-3.49M	-6.83M
Net Income	367.57K	2.43M	-5.13M	-21.07M	-593.09K
Balance Sheet
Total Assets	87.17M	50.69M	32.94M	36.04M	54.68M
Cash, Cash Equivalents and Short-Term Investments	10.42M	11.31M	14.60M	8.71M	3.48M
Total Debt	9.62M	0.00	0.00	0.00	0.00
Total Liabilities	15.52M	805.90K	654.48K	890.79K	769.08K
Stockholders Equity	71.65M	49.88M	32.28M	35.15M	53.91M
Cash Flow
Free Cash Flow	-2.61M	-3.53M	-3.73M	-5.71M	-2.48M
Operating Cash Flow	-2.61M	-3.06M	-3.39M	-460.90K	-1.06M
Investing Cash Flow	-9.61M	3.93M	1.47M	5.06M	-37.44M
Financing Cash Flow	9.14M	-200.13K	81.25K	0.00	38.54M

Neptune Digital Assets Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.76
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NDA, the sentiment is Negative. The current price of 0.76 is below the 20-day moving average (MA) of 0.80, below the 50-day MA of 0.87, and below the 200-day MA of 1.05, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 45.64 is Neutral, neither overbought nor oversold. The STOCH value of 34.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:NDA.

Neptune Digital Assets Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
HUT	57 Neutral	C$7.51B	-21.04	18.75%	―	7.46%	-4.30%
BIGG	52 Neutral	C$26.26M	7.22	-63.28%	―	36.80%	9.34%
BITF	46 Neutral	C$1.79B	―	-20.47%	―	51.69%	28.00%
GLXY	45 Neutral	C$11.52B	-43.24	12.11%	―	―	-121.84%
DMGI	44 Neutral	C$52.62M	-5.39	-10.10%	―	39.64%	-70.96%
NDA	43 Neutral	C$100.06M	-6.21	-11.71%	―	-21.21%	-84.82%

Neptune Digital Assets Corporate Events

Neptune Digital Assets Deepens SpaceX Exposure via xAI Conversion

Neptune reports that its 3,601-share xAI stake should convert into roughly 516 additional SpaceX shares after SpaceX’s planned purchase of xAI, lifting its anticipated SpaceX holdings to about 32,640 shares and deepening exposure to AI-space convergence alongside its Bitcoin and staking portfolios, which management views as validating its thesis of concentrating on category-defining assets across AI, compute, blockchain, and space infrastructure.

The most recent analyst rating on (TSE:NDA) stock is a Hold with a C$0.81 price target. To see the full list of analyst forecasts on Neptune Digital Assets stock, see the TSE:NDA Stock Forecast page.

Neptune Digital Assets Posts Record $22.8 Million Profit as Crypto and Frontier Tech Bets Lift Assets 75%

Neptune Digital Assets reported a record comprehensive net income of $22.8 million for the year ended August 31, 2025, as total assets surged 75% to $87.2 million, largely on the back of strong revaluation gains in its growing digital currency portfolio. The company’s Bitcoin holdings rose to approximately 416 BTC, valued around $50 million, while it expanded its Solana and Cosmos positions and maintained diversified exposure to other major tokens, even as gross revenues declined to $2.2 million due to reduced post-halving mining income and weaker altcoin markets. Neptune further deepened its strategic shift into frontier technologies by increasing its SpaceX stake to 32,126 shares (valued at about $18.8 million) and initiating a position in xAI, supported by a US$25 million revolving credit line, positioning the firm as a leveraged play on both digital assets and high-growth private tech as it seeks to capture future upside in these sectors.

The most recent analyst rating on (TSE:NDA) stock is a Buy with a C$3.00 price target. To see the full list of analyst forecasts on Neptune Digital Assets stock, see the TSE:NDA Stock Forecast page.

Neptune Expands Tech Investments with Strategic Stake in AI Innovator xAI Corp

Neptune Digital Assets has announced a strategic investment of $300,000 USD into xAI Corp., an artificial intelligence company aimed at accelerating human scientific discovery through sophisticated AI systems. This investment aligns with Neptune’s strategy to diversify its asset base and capitalize on transformative technologies such as AI, blockchain, and space exploration. Building on its successful investment in SpaceX, Neptune positions itself as a frontrunner in fostering innovation across high-growth technological domains, creating potential long-term value for shareholders.

The most recent analyst rating on (TSE:NDA) stock is a Buy with a C$3.00 price target. To see the full list of analyst forecasts on Neptune Digital Assets stock, see the TSE:NDA Stock Forecast page.