Northern Mineral Financials
This page shows Northern Mineral (NMEX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 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).
Tiny operating revenue leaves the company dependent on external financing, while a negative-equity balance sheet prevents a self-funding base.
FY2025’s jump in total assets to$171K from$11K did not materially strengthen the company, because liabilities rose alongside it and equity still remained negative. With financing cash flow of$153K nearly covering operating cash burn of-$177K , the asset increase reads more like bridge funding that kept the entity moving than like operating momentum creating its own resources.
Operating scale is extremely small relative to the cost base: FY2025 revenue was
Liquidity improved only from a very low base, with the current ratio moving to 0.1x from 0.08x despite the larger asset base. Even so, cash ended at
Financial Health Signals
We are recalculating Northern Mineral's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.
Northern Mineral scores -26.97, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($8.6M) relative to total liabilities ($458K). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Northern Mineral passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 3 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Northern Mineral generates $0.46 in operating cash flow (-$177K OCF vs -$384K net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Northern Mineral earns $-19.2 in operating income for every $1 of interest expense (-$235K vs $12K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Northern Mineral generated $9K in revenue in fiscal year 2025.
Northern Mineral reported -$384K in net income in fiscal year 2025.
Cash & Balance Sheet
Northern Mineral held $8K in cash against $0 in long-term debt as of fiscal year 2025.
Northern Mineral had 107M shares outstanding in fiscal year 2025. This represents an increase of 1.4% from the prior year.
Margins & Returns
Northern Mineral's gross margin was 3.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs.
Northern Mineral's operating margin was -2725.4% in fiscal year 2025, reflecting core business profitability.
Northern Mineral's net profit margin was -4443.0% in fiscal year 2025, showing the share of revenue converted to profit.
Capital Allocation
NMEX Income Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $8K-11.3% | $9K+86.7% | $5K | N/A | $0 | $0 | $0 | N/A |
| Cost of Revenue | $7K-11.3% | $8K+52.6% | $5K | N/A | $0 | $0 | $0 | N/A |
| Gross Profit | $2K-11.4% | $2K+1634.9% | $109 | N/A | $0 | $0 | $0 | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $3K-89.6% | $31K+733.4% | $4K | N/A | $4K-24.9% | $5K-85.0% | $33K | N/A |
| Operating Income | -$52K+48.9% | -$102K-72.2% | -$59K | N/A | -$65K-77.5% | -$36K | N/A | N/A |
| Interest Expense | $6K+29.1% | $5K+20.9% | $4K | N/A | $3K+17.0% | $3K+2.7% | $3K | N/A |
| Income Tax | $0 | $0 | $0 | N/A | $0 | $0 | $0 | N/A |
| Net Income | -$59K+46.4% | -$110K-74.1% | -$63K | N/A | -$68K-73.0% | -$39K | N/A | N/A |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
NMEX Balance Sheet
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $233K+6.2% | $220K+28.5% | $171K+5.4% | $162K-49.9% | $324K+962.5% | $30K+185.9% | $11K-79.9% | $53K |
| Current Assets | $44K+49.5% | $29K+50.0% | $20K+80.5% | $11K-65.9% | $32K+4.1% | $30K+185.9% | $11K-79.9% | $53K |
| Cash & Equivalents | $17K+94.5% | $9K+3.7% | $8K+103.7% | $4K-87.2% | $32K+4.1% | $30K+185.9% | $11K-79.9% | $53K |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $27K+30.8% | $21K+84.1% | $11K+66.5% | $7K | N/A | N/A | N/A | $0 |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $646K+12.7% | $573K+25.2% | $458K+18.6% | $386K+10.6% | $349K+12.0% | $311K+8.4% | $287K+5.9% | $271K |
| Current Liabilities | $184K+7.4% | $171K-2.7% | $176K+57.5% | $111K-2.8% | $115K-15.8% | $136K-0.6% | $137K+13.2% | $121K |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$412K-16.7% | -$353K-23.2% | -$287K-28.3% | -$223K-807.0% | -$25K+91.2% | -$281K-1.6% | -$276K-26.8% | -$218K |
| Retained Earnings | -$4.2M-1.4% | -$4.1M-2.8% | -$4.0M-1.6% | -$3.9M-5.3% | -$3.7M-1.9% | -$3.7M-1.1% | -$3.6M-2.2% | -$3.5M |
NMEX Cash Flow Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$52K+33.1% | -$78K-34.2% | -$58K-35.4% | -$43K+16.7% | -$51K-27.6% | -$40K+5.4% | -$42K+3.0% | -$44K |
| 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 | $0 | N/A | N/A | -$13K0.0% | -$13K | $0 | $0 | $0 |
| Financing Cash Flow | $60K-50.0% | $120K+93.5% | $62K+125.5% | $28K-57.7% | $65K+8.3% | $60K | $0-100.0% | $55K |
| 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 |
NMEX Financial Ratios
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 20.0%0.0pp | 20.0%+17.9pp | 2.1% | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -624.3%+458.1pp | -1082.4%+90.9pp | -1173.3% | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -703.8%+460.3pp | -1164.1%+83.8pp | -1247.9% | 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 | -25.3%+24.8pp | -50.1%-13.1pp | -37.0% | N/A | -21.0%+108.0pp | -129.0% | N/A | N/A |
| Current Ratio | 0.24+0.1 | 0.17+0.1 | 0.11+0.0 | 0.10-0.2 | 0.28+0.1 | 0.22+0.1 | 0.08-0.4 | 0.44 |
| Debt-to-Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$287K), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.11), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Northern Mineral's annual revenue?
Northern Mineral (NMEX) reported $9K 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 Northern Mineral profitable?
No, Northern Mineral (NMEX) reported a net income of -$384K in fiscal year 2025, with a net profit margin of -4443.0%.
What is Northern Mineral's gross margin?
Northern Mineral (NMEX) had a gross margin of 3.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Northern Mineral's operating margin?
Northern Mineral (NMEX) had an operating margin of -2725.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Northern Mineral's net profit margin?
Northern Mineral (NMEX) had a net profit margin of -4443.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Northern Mineral's operating cash flow?
Northern Mineral (NMEX) generated -$177K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Northern Mineral's total assets?
Northern Mineral (NMEX) had $171K in total assets as of fiscal year 2025, including both current and long-term assets.
What is Northern Mineral's current ratio?
Northern Mineral (NMEX) had a current ratio of 0.11 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Northern Mineral's return on assets (ROA)?
Northern Mineral (NMEX) had a return on assets of -224.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Northern Mineral's cash runway?
Based on fiscal year 2025 data, Northern Mineral (NMEX) had $8K in cash against an annual operating cash burn of $177K. This gives an estimated cash runway of approximately 1 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.
Why is Northern Mineral's debt-to-equity ratio negative or not reported?
Northern Mineral (NMEX) has negative shareholder equity of -$287K as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Northern Mineral's Altman Z-Score?
Northern Mineral (NMEX) has an Altman Z-Score of -26.97, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Northern Mineral's Piotroski F-Score?
Northern Mineral (NMEX) has a Piotroski F-Score of 3 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Northern Mineral's earnings high quality?
Northern Mineral (NMEX) has an earnings quality ratio of 0.46x, 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 Northern Mineral cover its interest payments?
Northern Mineral (NMEX) has an interest coverage ratio of -19.2x, 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.