Novonix Limited (NVX) Stock Analysis & Winston Score

Novonix Limited develops and supplies battery materials, equipment, and services to the lithium-ion battery market in North America. It operates through three segments: Graphite Exploration and Mining, Battery Technology, and Battery Materials. The Graphite Exploration and Mining segment explores for graphite in Australia. The Battery Technology segment develops battery cell testing equipment and batteries, and consulting services. The Battery Materials segment develops and manufactures battery

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

-9.6% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-18.9% YoY

YoY Growth Rate

Earnings declining

Insider Activity

17.1%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~5 months

$84M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Novonix Limited 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

-344.6%

Thin — -344.6% gross margin

Operating Margin

-920.6%

Losing money on operations — -920.6%

ROCE

-9.9%

Weak — -9.9% return on capital

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

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Growth

Sales YoY

-19.5%

Shrinking sales (-19.5% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-1505.3%

Burning cash (-1505.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.66

Moderate — manageable debt (0.66)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

no trend

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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