Novonix Ltd
ASX:NVX

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Novonix Ltd
ASX:NVX
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Price: 0.435 AUD 2.35% Market Closed
Market Cap: 365.4m AUD

Intrinsic Value

The intrinsic value of one NVX stock under the Base Case scenario is 1.218 AUD. Compared to the current market price of 0.435 AUD, Novonix Ltd is Undervalued by 64%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

NVX Intrinsic Value
1.218 AUD
Undervaluation 64%
Intrinsic Value
Price
Base Case Scenario

Valuation History
Novonix Ltd

What is Valuation History?
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Fundamental Analysis

Company Overview
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Economic Moat
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Earnings Call
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Management
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Contacts
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Bear Theses

Novonix’s aggressive capacity expansion for its anode materials may incur high capital expenditures without guaranteed long-term offtake agreements, leaving the firm vulnerable if EV battery demand projections do not fully materialize or shift to competing chemistries.

Reliance on specialty graphite manufacturing processes could expose Novonix to technologically savvy Chinese competitors with more established supply chains and lower production costs, potentially pressuring margins if pricing battles intensify.

Inconsistent operational execution in ramping up large-scale production has historically led to delays. Any further setbacks in meeting key performance milestones could undermine management credibility, fueling investor skepticism about future projects.

Bull Theses

Novonix’s strategic focus on synthetic graphite production, backed by its proprietary battery testing technology, positions it favorably to meet growing domestic demand for EV components under the Inflation Reduction Act’s push for U.S.-based manufacturing.

Collaboration with Phillips 66 and other industry partners provides Novonix with not only capital injections but also an established customer and distribution network, strengthening its foothold in the supply chain and accelerating commercial adoption of its materials.

A robust R&D foundation, anchored by advanced battery testing capabilities and academic partnerships, could yield continued technological improvements in graphite anode chemistry, giving Novonix a competitive edge and enabling premium pricing in high-performance markets.

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How do you feel about NVX?
Bearish
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Bullish
Financials
Annual
Quarterly
TTM
Annual
Quarterly
TTM

Balance Sheet Decomposition
Novonix Ltd

Current Assets 52.7m
Cash & Short-Term Investments 24.8m
Receivables 18.9m
Other Current Assets 9m
Non-Current Assets 186.3m
PP&E 173m
Intangibles 12m
Other Non-Current Assets 1.3m
Current Liabilities 56.6m
Accounts Payable 18.5m
Other Current Liabilities 38.1m
Non-Current Liabilities 38.6m
Long-Term Debt 38.6m
Efficiency

Free Cash Flow Analysis
Novonix Ltd

Last Value
3-Years Average
FCF Margin
Conversion Rate

Earnings Waterfall
Novonix Ltd

Revenue
5.9m USD
Cost of Revenue
-25.1m USD
Gross Profit
-19.2m USD
Operating Expenses
-31.7m USD
Operating Income
-50.9m USD
Other Expenses
-15.3m USD
Net Income
-66.2m USD
Fundamental Scores

NVX Profitability Score
Profitability Due Diligence

Novonix Ltd's profitability score is 14/100. The higher the profitability score, the more profitable the company is.

14/100
Profitability
Score

Novonix Ltd's profitability score is 14/100. The higher the profitability score, the more profitable the company is.

NVX Solvency Score
Solvency Due Diligence

Novonix Ltd's solvency score is 60/100. The higher the solvency score, the more solvent the company is.

High Interest Coverage
Low D/E
Long-Term Solvency
Positive Net Debt
60/100
Solvency
Score

Novonix Ltd's solvency score is 60/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

NVX Price Targets Summary
Novonix Ltd

Wall Street analysts forecast NVX stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for NVX is 1.02 AUD with a low forecast of 1.01 AUD and a high forecast of 1.05 AUD.

Lowest
Price Target
1.01 AUD
132% Upside
Average
Price Target
1.02 AUD
134% Upside
Highest
Price Target
1.05 AUD
141% Upside
View Analyst Estimates
View Analyst Estimates

Dividends

Novonix Ltd
does not pay dividends
Shareholder Yield

Current shareholder yield for NVX is .

Shareholder yield represents the total return a company provides to its shareholders, calculated as the sum of dividend yield, buyback yield, and debt paydown yield. What is shareholder yield?

Shareholder Yield
Dividend Yield
No dividends
Buyback Yield
Lowest
Average
Highest
Debt Paydown Yield
Lowest
Average
Highest

Competitive Landscape

Company Market Cap Intrinsic Valuation Profitability Solvency Price Change
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NVX News

Other Videos
What is the Intrinsic Value of one NVX stock?

The intrinsic value of one NVX stock under the Base Case scenario is 1.218 AUD.

Is NVX stock undervalued or overvalued?

Compared to the current market price of 0.435 AUD, Novonix Ltd is Undervalued by 64%.

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