Novagold Rscs Financials

Source SEC Filings (10-K/10-Q) Updated Nov 30, 2025 Currency USD FYE November

This page shows Novagold Rscs (NG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Financial Health Signals

Piotroski F-Score Weak

3/9

Novagold Rscs passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

0.15x

For every $1 of reported earnings, Novagold Rscs generates $0.15 in operating cash flow (-$14.0M OCF vs -$94.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-3.2x

Novagold Rscs earns $-3.2 in operating income for every $1 of interest expense (-$47.3M vs $14.8M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Revenue

Novagold Rscs generated $0 in revenue in fiscal year 2025.

EBITDA

-$47.3M

YoY-24.9%

Novagold Rscs's EBITDA was -$47.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 24.9% from the prior year.

Free Cash Flow

N/A

Net Income

-$94.7M

YoY-107.5%

Novagold Rscs reported -$94.7M in net income in fiscal year 2025. This represents a decrease of 107.5% from the prior year.

EPS (Diluted)

N/A

Cash & Debt

$110.1M

YoY+160.9%

5Y CAGR+12.6%

10Y CAGR+10.2%

Novagold Rscs held $110.1M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

407M

YoY+21.6%

5Y CAGR+4.2%

10Y CAGR+2.5%

Novagold Rscs had 407M shares outstanding in fiscal year 2025. This represents an increase of 21.6% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

NG Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$0	$0	N/A	N/A	$0	$0
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	$25.4M+1.8%	$24.9M+14.5%	$21.8M+8.3%	$20.1M-0.5%	$20.2M+7.9%	$18.7M
Operating Income	-$47.3M-24.9%	-$37.9M+6.1%	-$40.3M+16.5%	-$48.3M-31.0%	-$36.8M-10.8%	-$33.2M
Interest Expense	$14.8M0.0%	$14.8M+13.1%	$13.1M+64.1%	$8.0M+34.4%	$5.9M-1.5%	$6.0M
Income Tax	$0-100.0%	$724K+1756.4%	$39K+218.2%	-$33K-124.1%	$137K+117.5%	-$781K
Net Income	-$94.7M-107.5%	-$45.6M+2.5%	-$46.8M+12.3%	-$53.3M-31.6%	-$40.5M-20.8%	-$33.6M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	N/A	N/A	$0	$0	$0	$0	$0	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	N/A	$6.3M+30.8%	$4.8M-19.3%	$6.0M+16.3%	$5.1M-32.7%	$7.6M+21.5%	$6.3M	N/A
Operating Income	N/A	-$13.7M-93.3%	-$7.1M+22.1%	-$9.1M-14.8%	-$7.9M+31.6%	-$11.6M-25.7%	-$9.2M	N/A
Interest Expense	N/A	$3.8M+7.3%	$3.6M-2.1%	$3.6M-5.0%	$3.8M+3.5%	$3.7M+2.9%	$3.6M	N/A
Income Tax	N/A	$0	$0+100.0%	-$131K-184.0%	$156K-74.0%	$599K+499.0%	$100K	N/A
Net Income	N/A	-$15.6M-71.6%	-$9.1M+16.1%	-$10.9M-1.1%	-$10.7M+21.6%	-$13.7M-32.8%	-$10.3M	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

NG Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$335.9M+206.1%	$109.8M-17.7%	$133.3M-16.3%	$159.2M-19.9%	$198.9M-11.4%	$224.4M
Current Assets	$117.5M+14.3%	$102.8M-19.2%	$127.2M-16.6%	$152.5M-10.0%	$169.5M-13.7%	$196.4M
Cash & Equivalents	$110.1M+160.9%	$42.2M-7.7%	$45.7M-28.4%	$63.9M-29.9%	$91.1M+49.6%	$60.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	$301K	$0	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$172.1M+9.5%	$157.2M+11.1%	$141.5M+9.5%	$129.3M+7.2%	$120.6M+6.0%	$113.7M
Current Liabilities	$4.9M+10.1%	$4.5M+14.8%	$3.9M-15.1%	$4.6M+4.9%	$4.4M+24.9%	$3.5M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$163.8M+445.4%	-$47.4M-476.6%	-$8.2M-127.5%	$29.9M-61.8%	$78.3M-29.3%	$110.7M
Retained Earnings	-$2.2B-4.5%	-$2.1B-2.2%	-$2.1B-2.3%	-$2.0B-2.7%	-$2.0B-2.1%	-$1.9B

Metric	Q4'25	Q3'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$335.9M-2.7%	$345.4M+238.5%	$102.0M-7.0%	$109.8M-4.3%	$114.7M-5.6%	$121.6M-4.2%	$126.9M-4.8%	$133.3M
Current Assets	$117.5M-6.9%	$126.2M+33.3%	$94.6M-7.9%	$102.8M-4.1%	$107.1M-6.0%	$113.9M-5.0%	$119.9M-5.8%	$127.2M
Cash & Equivalents	$110.1M+89.3%	$58.2M+71.2%	$34.0M-19.6%	$42.2M-7.3%	$45.6M-13.3%	$52.6M+40.2%	$37.5M-18.0%	$45.7M
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$172.1M+2.3%	$168.3M+6.4%	$158.2M+0.6%	$157.2M+3.0%	$152.5M+2.3%	$149.0M+4.2%	$143.0M+1.1%	$141.5M
Current Liabilities	$4.9M+5.3%	$4.7M+136.9%	$2.0M-55.9%	$4.5M+24.9%	$3.6M-7.7%	$3.9M+112.3%	$1.8M-53.1%	$3.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$163.8M-7.5%	$177.1M+415.6%	-$56.1M-18.4%	-$47.4M-25.4%	-$37.8M-37.6%	-$27.5M-70.5%	-$16.1M-96.0%	-$8.2M
Retained Earnings	-$2.2B-0.7%	-$2.2B-3.3%	-$2.1B-0.4%	-$2.1B-0.5%	-$2.1B-0.5%	-$2.1B-0.7%	-$2.1B-0.5%	-$2.1B

NG Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$14.0M-11.0%	-$12.6M-62.4%	-$7.8M+37.1%	-$12.4M-25.4%	-$9.9M+1.6%	-$10.0M
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	-$177.6M-1998.1%	$9.4M+190.6%	-$10.3M+16.5%	-$12.4M-130.6%	$40.4M+755.0%	$4.7M
Financing Cash Flow	$259.5M+149240.8%	-$174K	$0+100.0%	-$2.1M-190.3%	-$731K+55.8%	-$1.7M
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	Q4'25	Q3'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	-$6.0M-568.4%	-$903K+83.5%	-$5.5M-168.6%	-$2.0M+49.7%	-$4.0M-237.7%	-$1.2M+77.7%	-$5.4M-195.1%	-$1.8M
Capital Expenditures	N/A	N/A	N/A	N/A	$0	$0	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	-$4.0M-237.7%	-$1.2M	N/A	N/A
Investing Cash Flow	$58.0M+122.3%	-$260.1M-9672.7%	-$2.7M-113.1%	-$1.2M+55.5%	-$2.8M-117.2%	$16.3M+665.6%	-$2.9M-182.1%	$3.5M
Financing Cash Flow	$1K-100.0%	$25.5M+31174.4%	-$82K	$0+100.0%	-$157K-823.5%	-$17K	$0	$0
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

NG 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	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-28.2%+13.4pp	-41.6%-6.5pp	-35.1%-1.6pp	-33.5%-13.1pp	-20.4%-5.4pp	-14.9%
Current Ratio	23.79+0.9	22.91-9.7	32.57-0.6	33.17-5.5	38.66-17.3	55.97
Debt-to-Equity	1.05+4.4	-3.31+13.9	-17.21-21.5	4.32+2.8	1.54+0.5	1.03
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	-4.5%+4.4pp	-8.9%+1.0pp	-9.9%-0.5pp	-9.4%+1.9pp	-11.3%-3.1pp	-8.1%	N/A
Current Ratio	23.79-3.1	26.91-20.9	47.82+24.9	22.91-6.9	29.83+0.5	29.28-36.1	65.41+32.8	32.57
Debt-to-Equity	1.05+0.1	0.95+3.8	-2.82+0.5	-3.31+0.7	-4.03+1.4	-5.43+3.4	-8.87+8.3	-17.21
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Novagold Rscs's annual revenue?

Novagold Rscs (NG) reported $0 in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Is Novagold Rscs profitable?

No, Novagold Rscs (NG) reported a net income of -$94.7M in fiscal year 2025.

What is Novagold Rscs's EBITDA?

Novagold Rscs (NG) had EBITDA of -$47.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Novagold Rscs's operating cash flow?

Novagold Rscs (NG) generated -$14.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Novagold Rscs's total assets?

Novagold Rscs (NG) had $335.9M in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Novagold Rscs have outstanding?

Novagold Rscs (NG) had 407M shares outstanding as of fiscal year 2025.

What is Novagold Rscs's current ratio?

Novagold Rscs (NG) had a current ratio of 23.79 as of fiscal year 2025, which is generally considered healthy.

What is Novagold Rscs's debt-to-equity ratio?

Novagold Rscs (NG) had a debt-to-equity ratio of 1.05 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Novagold Rscs's return on assets (ROA)?

Novagold Rscs (NG) had a return on assets of -28.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Novagold Rscs's cash runway?

Based on fiscal year 2025 data, Novagold Rscs (NG) had $110.1M in cash against an annual operating cash burn of $14.0M. This gives an estimated cash runway of approximately 94 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 Novagold Rscs's Piotroski F-Score?

Novagold Rscs (NG) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Novagold Rscs's earnings high quality?

Novagold Rscs (NG) has an earnings quality ratio of 0.15x, 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.

Can Novagold Rscs cover its interest payments?

Novagold Rscs (NG) has an interest coverage ratio of -3.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.