What is Niocorp Developm's earnings per share (EPS)?

Niocorp Developm (NB) reported diluted earnings per share of $-0.36 for fiscal year 2025. This represents a -16.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Niocorp Developm Financials

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE June

This page shows Niocorp Developm (NB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI NB FY2025 2026-05-14

NB's reported progress is primarily a recapitalization story, with external funding reshaping liquidity far more than operations.

FY2025's liquidity rebound was financing-led: cash climbed from $2.0M to $25.6M even though the company remained loss-making. At the same time, shares outstanding rose from 38.1M to 58.5M, showing the balance-sheet repair was bought with new capital rather than earned through operations.

Because there is no reported revenue base in these annual filings, the recurring operating cash burn of -$10.7M in FY2025 looks like a carrying cost of keeping the enterprise active, not a temporary working-capital swing. With investing cash use at just -$7K, most cash needs appear tied to sustaining the organization rather than building a large operating asset base.

FY2024 looked short-term constrained, with current assets of $2.9M against current liabilities of $12.0M. FY2025 reversed that posture, with current liabilities down to $1.9M and interest expense collapsing to $48K, which points to a funding mix shift away from costly near-term obligations and toward fresh capital.

Financial Health Signals

Financial Profile 32/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Niocorp Developm's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Leverage

Niocorp Developm carries a low D/E ratio of 0.52, meaning only $0.52 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 91/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 14.12, Niocorp Developm holds $14.12 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Returns

Niocorp Developm generates a -63.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -1189.8% the prior year.

Piotroski F-Score Weak

3/9

Niocorp Developm passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.59x

For every $1 of reported earnings, Niocorp Developm generates $0.59 in operating cash flow (-$10.7M OCF vs -$18.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

-$18.0M

YoY-51.1%

Niocorp Developm reported -$18.0M in net income in fiscal year 2025. This represents a decrease of 51.1% from the prior year.

EPS (Diluted)

$-0.36

YoY-16.1%

Niocorp Developm earned $-0.36 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 16.1% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$25.6M

YoY+1170.1%

5Y CAGR+142.1%

10Y CAGR+42.3%

Niocorp Developm held $25.6M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

58M

YoY+53.7%

Niocorp Developm had 58M shares outstanding in fiscal year 2025. This represents an increase of 53.7% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-63.5%

YoY+1126.3pp

5Y CAGR+88.0pp

10Y CAGR+397.8pp

Niocorp Developm's ROE was -63.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1126.3 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

NB Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$1.9M-44.6%	$3.5M+51.1%	$2.3M+8.0%	$2.1M+29.9%	$1.7M+20.3%	$1.4M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$48K-98.9%	$4.5M+92.2%	$2.3M-17.4%	$2.8M+83.2%	$1.5M+335.9%	$354K
Income Tax	$0+100.0%	-$139K+54.3%	-$304K	N/A	N/A	N/A
Net Income	-$18.0M-51.1%	-$11.9M+70.5%	-$40.3M-270.2%	-$10.9M-125.7%	-$4.8M-20.6%	-$4.0M
EPS (Diluted)	$-0.36-16.1%	$-0.31	N/A	N/A	N/A	N/A

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$1.5M+14.3%	$1.3M-41.7%	$2.2M	N/A	$376K-58.4%	$904K+173.9%	$330K	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$0	$0	N/A	N/A	$0+100.0%	-$4K+90.9%	-$44K	N/A
Income Tax	$0	$0	N/A	N/A	$0	$0	N/A	N/A
Net Income	$669K+207.4%	-$623K+98.6%	-$43.5M	N/A	-$5.3M-1077.1%	-$450K+78.6%	-$2.1M	N/A
EPS (Diluted)	$0.01	$0.00	N/A	N/A	$-0.11-1000.0%	$-0.01	N/A	N/A

NB Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$43.8M+118.3%	$20.1M-4.1%	$20.9M-8.0%	$22.8M-7.0%	$24.5M+122.5%	$11.0M
Current Assets	$26.7M+813.1%	$2.9M-21.4%	$3.7M-34.4%	$5.7M-22.6%	$7.3M+2071.9%	$338K
Cash & Equivalents	$25.6M+1170.1%	$2.0M-14.1%	$2.3M-55.7%	$5.3M-27.8%	$7.3M+2283.4%	$307K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$0	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$14.7M-16.4%	$17.5M-41.1%	$29.8M+485.3%	$5.1M-54.8%	$11.3M+34.7%	$8.4M
Current Liabilities	$1.9M-84.2%	$12.0M+235.9%	$3.6M-29.7%	$5.1M+29.4%	$3.9M-51.1%	$8.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	$344K
Total Equity	$28.3M+2732.3%	$1.0M+109.1%	-$11.0M-162.1%	$17.7M+33.7%	$13.2M+400.3%	$2.6M
Retained Earnings	-$179.3M-10.7%	-$161.9M-7.6%	-$150.5M-36.3%	-$110.4M-10.9%	-$99.5M-5.1%	-$94.7M

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Total Assets	$469.0M+34.8%	$348.0M+78.8%	$194.7M+344.3%	$43.8M+137.2%	$18.5M+3.5%	$17.9M-2.6%	$18.3M-8.7%	$20.1M
Current Assets	$423.5M+37.7%	$307.6M+88.1%	$163.5M+511.7%	$26.7M+1847.3%	$1.4M+86.0%	$738K-38.3%	$1.2M-59.2%	$2.9M
Cash & Equivalents	$419.2M+36.8%	$306.4M+88.2%	$162.8M+536.9%	$25.6M+1874.8%	$1.3M+171.3%	$477K+218.0%	$150K-92.5%	$2.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$2.2M0.0%	$2.2M	N/A	$0	N/A	N/A	N/A	N/A
Total Liabilities	$34.6M-13.5%	$40.0M-7.6%	$43.2M+195.0%	$14.7M+51.1%	$9.7M+0.6%	$9.6M-33.2%	$14.4M-17.7%	$17.5M
Current Liabilities	$13.6M+39.3%	$9.8M+146.0%	$4.0M+110.0%	$1.9M+68.7%	$1.1M-70.7%	$3.8M-52.9%	$8.1M-32.1%	$12.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$435.4M+41.0%	$308.7M+103.7%	$151.5M+434.9%	$28.3M+276.1%	$7.5M+9.3%	$6.9M+189.4%	$2.4M+138.1%	$1.0M
Retained Earnings	-$221.9M+0.3%	-$222.6M-0.3%	-$222.0M-23.8%	-$179.3M-5.6%	-$169.7M-3.2%	-$164.4M-0.3%	-$164.0M-1.3%	-$161.9M

NB Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$10.7M+9.1%	-$11.7M+32.2%	-$17.3M-181.2%	-$6.2M-30.1%	-$4.7M-55.0%	-$3.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$7K	N/A	$21K+231.3%	-$16K+99.7%	-$6.3M	N/A
Financing Cash Flow	$34.2M+200.0%	$11.4M-22.1%	$14.6M+240.3%	$4.3M-76.2%	$18.1M+501.7%	$3.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Operating Cash Flow	-$4.4M-422.7%	-$838K+87.4%	-$6.7M-39.4%	-$4.8M-22.8%	-$3.9M-191.1%	-$1.3M-108.4%	-$642K+89.5%	-$6.1M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$4.6M+48.3%	-$8.9M+36.4%	-$14.1M-703800.0%	-$2K	$0	N/A	N/A	N/A
Financing Cash Flow	$123.9M-19.2%	$153.4M-2.9%	$158.0M+443.8%	$29.0M+516.4%	$4.7M+182.2%	$1.7M+236.9%	-$1.2M-115.4%	$7.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

NB Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-63.5%+1126.3pp	-1189.8%	N/A	-61.6%-25.1pp	-36.5%+115.0pp	-151.5%
Return on Assets	-41.0%+18.2pp	-59.3%+133.3pp	-192.6%-144.7pp	-47.8%-28.1pp	-19.7%+16.7pp	-36.4%
Current Ratio	14.12+13.9	0.24-0.8	1.05-0.1	1.12-0.8	1.87+1.8	0.04
Debt-to-Equity	0.52-17.0	17.54+20.3	-2.72-3.0	0.29-0.6	0.85+0.7	0.13
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	0.1%+0.4pp	-0.2%+28.5pp	-28.7%	N/A	-70.3%-63.8pp	-6.5%+81.8pp	-88.3%	N/A
Return on Assets	0.1%+0.3pp	-0.2%+22.2pp	-22.4%	N/A	-28.7%-26.2pp	-2.5%+8.9pp	-11.5%	N/A
Current Ratio	31.08-0.4	31.45-9.7	41.13+27.0	14.12+12.9	1.22+1.0	0.19+0.0	0.15-0.1	0.24
Debt-to-Equity	0.08-0.1	0.13-0.2	0.29-0.2	0.52-0.8	1.29-0.1	1.40-4.7	6.06-11.5	17.54
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Similar Companies

$391.3M

$659.1M

$559.6M

$1.1B

United States Antimony UAMY

$1.1B

Frequently Asked Questions

Is Niocorp Developm profitable?

No, Niocorp Developm (NB) reported a net income of -$18.0M in fiscal year 2025.

What is Niocorp Developm's return on equity (ROE)?

Niocorp Developm (NB) has a return on equity of -63.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Niocorp Developm's operating cash flow?

Niocorp Developm (NB) generated -$10.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Niocorp Developm's total assets?

Niocorp Developm (NB) had $43.8M in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Niocorp Developm have outstanding?

Niocorp Developm (NB) had 58M shares outstanding as of fiscal year 2025.

What is Niocorp Developm's current ratio?

Niocorp Developm (NB) had a current ratio of 14.12 as of fiscal year 2025, which is generally considered healthy.

What is Niocorp Developm's debt-to-equity ratio?

Niocorp Developm (NB) had a debt-to-equity ratio of 0.52 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Niocorp Developm's return on assets (ROA)?

Niocorp Developm (NB) had a return on assets of -41.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Niocorp Developm's cash runway?

Based on fiscal year 2025 data, Niocorp Developm (NB) had $25.6M in cash against an annual operating cash burn of $10.7M. This gives an estimated cash runway of approximately 29 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Niocorp Developm's Piotroski F-Score?

Niocorp Developm (NB) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Niocorp Developm's earnings high quality?

Niocorp Developm (NB) has an earnings quality ratio of 0.59x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Niocorp Developm?

Niocorp Developm (NB) scores 32 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.