Nouveau Monde Graphite

NMG

Industrial Materials · Basic Materials

Price

$1.42

+0.00 (+0.00%)

Market Cap

$228.6M

Exchange

New York Stock Exchange

Winston Score

–

No score yet — Winston is napping.

We couldn’t gather enough financial data to score this stock reliably.

Share count rising — dilution

+258.4% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 43.0M (2021) → 154.0M (2025)

Nouveau Monde Graphite is a Canadian mining company working to build a fully integrated graphite supply chain in Quebec, Canada. Graphite is a key material used to make the anodes inside lithium-ion batteries, which power electric vehicles and energy storage systems. The company aims to produce both raw graphite and processed battery-grade graphite materials, targeting EV manufacturers and battery makers as its main customers.

The company is still in the development stage, meaning it has not yet started commercial production and currently generates little to no revenue. Its main project is the Matawinie mine and a planned coating facility in Quebec, which would make it one of the few Western sources of battery-grade graphite outside of China — a significant advantage given that China currently dominates global graphite supply. The biggest risk is that construction, permitting, and financing must all come together before the company can generate meaningful sales, making execution the central challenge ahead.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

Revenue data limited

EPS Growth

+65.5% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

Research and development spending

Insider Activity

80.3%ownership

Insiders own a meaningful stake in the company

Cash Runway

~11 months

$58M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Cash watch

Nouveau Monde Graphite has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

N/A

—

Data not available

Operating Margin

N/A

—

Data not available

ROCE

-15.0%

Weak — -15.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

N/A

—

Data not available

EPS YoY

N/A

Data not available

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

N/A

—

Data not available

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Stability

Debt / Equity

0.23

Conservative — low debt load (0.23)

Interest Cover

3.60x

Tight — interest eats into profit (3.6x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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