NOVONIX LIMITED (NVX) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 9, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-K for FY2025, filed Feb 26, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NVX SEC filings page.
NOVONIX LIMITED (NVX) reported $5.6M in revenue for fiscal year 2025, down 4.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).
NOVONIX’s asset-heavy, financing-dependent model is marked by deepening losses and rising reinvestment despite modest sales.
The key earnings-quality split is visible in FY2025: net loss was-$92.7M while operating cash flow was-$42.2M , so accounting losses did not translate one-for-one into cash outflow. Yet free cash flow fell to-$102.4M as capital spending reached$60.2M , showing that reinvestment—not just operating losses—drove the cash requirement.
Revenue fell from
The liquidity cushion narrowed: the current ratio compressed from 2.4x in FY2023 to 1.1x in FY2025, bringing current assets much closer to current liabilities. Meanwhile, FY2025 financing cash flow of
Financial Health Signals
NOVONIX LIMITED does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
NOVONIX LIMITED passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
NOVONIX LIMITED reported a net loss of $92.7M while operations used $42.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
NOVONIX LIMITED held $79.9M in cash against $5.9M in long-term debt as of Q4 2025, with $83.6M of liabilities due within a year.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
NVX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
NVX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2510-K | Q4'2410-K | Q2'2410-Q | Q4'2310-K | Q2'2310-Q | Q4'2210-K | Q2'2210-K | Q2'2110-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $282.9M+25.1% | $226.1M-14.1% | $240.8M-14.3% | $263.3M-5.1% | $280.9M-7.3% | $277.4M | $303.0M+98.9% | $152.3M+194.3% |
| Current Assets | $89.2M+55.6% | $57.3M-35.7% | $57.9M-46.7% | $89.2M-23.2% | $108.6M-33.1% | $116.1M | $162.2M+49.9% | $108.2M+280.1% |
| Cash & Equivalents | $79.9M+87.7% | $42.6M-45.9% | $47.1M-52.4% | $78.7M-20.5% | $99.1M-30.6% | $99.0M | $142.7M+39.1% | $102.6M+284.4% |
| Inventory | $2.2M+57.8% | $1.4M-30.8% | $2.0M-20.4% | $2.0M-36.8% | $2.6M+37.0% | $3.2M | $1.9M-10.3% | $2.1M+122.0% |
| Accounts Receivable | $2.1M-74.1% | $8.2M+128.9% | $2.5M+8.4% | $3.6M+25.2% | $2.3M-5.2% | $2.8M | $2.5M+50.1% | $1.6M+120.9% |
| Goodwill | $12.0M0.0% | $12.0M0.0% | $12.0M0.0% | $12.0M0.0% | $12.0M0.0% | $12.0M | $12.0M0.0% | $12.0M0.0% |
| Total Liabilities | $121.2M+37.0% | $88.5M+11.5% | $82.8M+4.9% | $79.4M+54.6% | $78.9M+52.3% | $51.4M | $51.8M+274.1% | $13.9M+91.7% |
| Current Liabilities | $83.6M+80.7% | $46.2M+24.1% | $9.4M+51.2% | $37.3M+340.2% | $6.2M-21.2% | $8.5M | $7.9M+96.3% | $4.0M+0.8% |
| Non-Current Liabilities | $37.7M-10.8% | $42.3M+0.3% | $73.4M+0.9% | $42.1M-1.8% | $72.7M+65.4% | $42.9M | $44.0M+346.7% | $9.8M+203.4% |
| Long-Term Debt | $5.9M-8.9% | $6.5M+44.8% | $6.8M+45.5% | $4.5M-7.2% | $4.6M-7.4% | $4.8M | $5.0M-6.3% | $5.3M+179.7% |
| Total Equity | $161.7M+17.5% | $137.6M-25.2% | $158.1M-21.7% | $183.9M-18.6% | $202.0M-19.6% | $226.1M | $251.1M+81.4% | $138.4M+210.9% |
| Retained Earnings | -$352.4M-35.7% | -$259.7M-40.5% | -$213.6M-28.1% | -$184.8M-33.4% | -$166.7M-50.5% | -$138.6M | -$110.7M-88.1% | -$58.9M-29.6% |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.
NVX Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
NVX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| NOVONIX LIMITED NVX | FY2025 | $5.6M | -$92.7M | N/A | $68.3M | — |
| Tecogen TGEN | FY2025 | $27.1M | -$8.2M | -30.5% | $97.5M | 34/100 |
| Fuelcell Energy FCEL | FY2025 | $158.2M | -$187.9M | N/A | $1.4B | 60/100 |
| Stardust Power Inc SDST | FY2025 | N/A | -$3.8M | N/A | $2.5M | — |
| Electrovaya ELVA | FY2025 | N/A | N/A | N/A | $354.0M | — |
| Neovolta NEOV | FY2025 | $8.4M | -$5.0M | -59.7% | $230.7M | 35/100 |
Where NOVONIX LIMITED Ranks
Frequently Asked Questions
What is NOVONIX LIMITED's annual revenue?
NOVONIX LIMITED (NVX) reported $5.6M in total revenue for fiscal year 2025. This represents a -4.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is NOVONIX LIMITED's revenue growing?
NOVONIX LIMITED (NVX) revenue declined by 4.1% year-over-year, from $5.9M to $5.6M in fiscal year 2025.
Is NOVONIX LIMITED profitable?
No, NOVONIX LIMITED (NVX) reported a net income of -$92.7M in fiscal year 2025.
How much debt does NOVONIX LIMITED have?
As of fiscal year 2025, NOVONIX LIMITED (NVX) had $79.9M in cash and equivalents against $5.9M in long-term debt.
What is NOVONIX LIMITED's return on equity (ROE)?
NOVONIX LIMITED (NVX) has a return on equity of -57.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is NOVONIX LIMITED's free cash flow?
NOVONIX LIMITED (NVX) recorded an outflow of $102.4M in free cash flow during fiscal year 2025. This represents a -45.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is NOVONIX LIMITED's operating cash flow?
NOVONIX LIMITED (NVX) recorded an outflow of $42.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are NOVONIX LIMITED's total assets?
NOVONIX LIMITED (NVX) had $282.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are NOVONIX LIMITED's capital expenditures?
NOVONIX LIMITED (NVX) invested $60.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is NOVONIX LIMITED's current ratio?
NOVONIX LIMITED (NVX) had a current ratio of 1.07 as of fiscal year 2025, which is considered adequate.
What is NOVONIX LIMITED's debt-to-equity ratio?
NOVONIX LIMITED (NVX) had a debt-to-equity ratio of 0.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is NOVONIX LIMITED's return on assets (ROA)?
NOVONIX LIMITED (NVX) had a return on assets of -32.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is NOVONIX LIMITED's P/E ratio?
NOVONIX LIMITED (NVX) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $68.3M as of Sep 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is NOVONIX LIMITED's price-to-sales ratio?
NOVONIX LIMITED (NVX) trades at 12.2x sales, its market capitalization divided by revenue of $5.6M revenue, FY2025. The market capitalization is $68.3M as of Sep 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is NOVONIX LIMITED's Piotroski F-Score?
NOVONIX LIMITED (NVX) has a Piotroski F-Score of 3 out of 8 computable signals; 1 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 NOVONIX LIMITED's earnings high quality?
NOVONIX LIMITED (NVX) reported a net loss of $92.7M while operations used $42.2M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.