1.Sales and profit
See section β- Nouveau Monde Graphite Inc. lost $75.2M in fiscal 2025.
Nouveau Monde Graphite Inc.
NMG NYSE Miscellaneous Metal Ores Financials FY2020βFY2025
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3-page PDF: the company, its results and charts with peers.
KIRAβs summary AI analyst
Hi! I read Nouveau Monde Graphite Inc.βs latest annual report (fiscal 2025). Here is what stands out:
1 strength 4 to watch
2.Cash and shareholders
See section β- Free cash flow was β$39.9M in fiscal 2025, β of revenue.
- No open-market insider trades in the last 12 months.
3.Financial health
See section β- Nouveau Monde Graphite Inc. has $53.4M more cash than debt.
- Its return on capital was β692.1%: every 100 invested in the business earned about β692 in a year.
- Nouveau Monde Graphite Inc. passes 2 of 7 financial health tests (Piotroski F-score).
Nouveau Monde Graphite Inc. in 30 seconds
Good So-so Weak
Weak
Does it make a profit?
β$75.2M
No. It lost money last year.
Weak
How healthy are the accounts?
2 / 7
Weak. It passes 2 of 7 health tests.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Key numbers, fiscal 2025
Market cap
Last close times the latest diluted share count, so it is approximate.
β
P/E
Last close divided by diluted earnings per share over the last four quarters.
β
On $0.49 EPS (TTM)
Charts by
Sales and profit
Is it selling more, and how much does it keep?
Results dates
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Nouveau Monde Graphite Inc. did it, and the next one. Share prices often move a lot on those days.
Next results
November 11, 2026
Wednesday Β· in 16 days
- Time
- Time not announced
- Covers
- Period ended Sep 30, 2026
- Expected EPS
- β$0.05
- Source
- Earnings calendar
| Date | Results for | Time | Source |
|---|---|---|---|
| Mar 26, 2026 | Period ended Dec 31, 2025 | Time not announced | 40-F β |
| Mar 31, 2025 | Period ended Dec 31, 2024 | Before the market opens | 40-F β |
| Mar 28, 2024 | Period ended Dec 31, 2023 | Before the market opens | 40-F β |
| Mar 24, 2023 | Period ended Dec 31, 2022 | Before the market opens | 40-F β |
| Mar 30, 2022 | Q4 '21 | After the market closes | 40-F β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
Revenue and margins
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
FY20
Revenue β
FY21
Revenue β
FY22
Revenue β
FY23
Revenue β
FY24
Revenue β
FY25
Revenue β
Revenue
Q3 '20
Revenue β$0.0M
Q4 '20
Revenue β
Q3 '21
Revenue β$0.1M
Q4 '21
Revenue β
Margins, % of revenue
FY20
Gross β
Operating β
Net β
FCF β
FY21
Gross β
Operating β
Net β
FCF β
FY22
Gross β
Operating β
Net β
FCF β
FY23
Gross β
Operating β
Net β
FCF β
FY24
Gross β
Operating β
Net β
FCF β
FY25
Gross β
Operating β
Net β
FCF β
Gross
Operating
Net
FCF
Margins, % of revenue
Q3 '20
Gross β
Operating β
Net 6,268.3%
FCF β
Q4 '20
Gross β
Operating β
Net β
FCF β
Q3 '21
Gross β
Operating β
Net 7,644.8%
FCF 3,692.9%
Q4 '21
Gross β
Operating β
Net β
FCF β
Gross
Operating
Net
FCF
Net income and earnings per share
KIRA Β· Nouveau Monde Graphite Inc. lost $75.2M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
FY20
Net income β$13.4M
FY21
Net income β$31.8M
FY22
Net income β$36.7M
FY23
Net income β$41.5M
FY24
Net income β$53.5M
FY25
Net income β$75.2M
Net income
Q3 '20
Net income β$0.4M
Q4 '20
Net income β$6.3M
Q3 '21
Net income β$7.1M
Q4 '21
Net income β$8.4M
Diluted EPS
FY20
Diluted EPS β$0.51
FY21
Diluted EPS β$0.74
FY22
Diluted EPS $0.69
FY23
Diluted EPS $0.69
FY24
Diluted EPS $0.52
FY25
Diluted EPS $0.49
Cash and shareholders
How much cash comes in, and where does it go?
Cash flow
KIRA Β· Free cash flow was β$39.9M in fiscal 2025, β of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
FY20
Free cash flow β$14.4M
FY21
Free cash flow β$56.9M
FY22
Free cash flow β$55.0M
FY23
Free cash flow β$36.7M
FY24
Free cash flow β$48.2M
FY25
Free cash flow β$39.9M
Free cash flow
Q3 '20
Free cash flow β
Q4 '20
Free cash flow β
Q3 '21
Free cash flow β$3.4M
Q4 '21
Free cash flow β$32.9M
Cash from operations vs capital spending
FY20
Cash from operations β$13.5M
Capital spending $0.9M
FY21
Cash from operations β$27.4M
Capital spending $29.5M
FY22
Cash from operations β$34.5M
Capital spending $20.5M
FY23
Cash from operations β$29.3M
Capital spending $7.5M
FY24
Cash from operations β$37.9M
Capital spending $10.3M
FY25
Cash from operations β$30.2M
Capital spending $9.8M
Cash from operations
Capital spending
Cash from operations vs capital spending
Q3 '20
Cash from operations β$4.7M
Capital spending β
Q4 '20
Cash from operations β$4.6M
Capital spending β
Q3 '21
Cash from operations β$11.3M
Capital spending β$7.9M
Q4 '21
Cash from operations β$5.0M
Capital spending $27.9M
Cash from operations
Capital spending
Dividends, buybacks and share count
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
FY20
Dividends β
Buybacks β
FY21
Dividends β
Buybacks β
FY22
Dividends β
Buybacks β
FY23
Dividends β
Buybacks β
FY24
Dividends β
Buybacks β
FY25
Dividends β
Buybacks β
Dividends
Buybacks
Diluted shares outstanding (annual)
FY20
Diluted shares 0.03B
FY21
Diluted shares 0.04B
FY22
Diluted shares 0.06B
FY23
Diluted shares 0.06B
FY24
Diluted shares 0.10B
FY25
Diluted shares 0.15B
Insider trades
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Financial health
Can it carry its debts, and how well does it use its money?
Balance sheet
KIRA Β· Nouveau Monde Graphite Inc. has $53.4M more cash than debt.
Cash, debt and the ratios that show how comfortably Nouveau Monde Graphite Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
FY20
Cash $3.5M
Debt $1.4M
FY21
Cash $49.1M
Debt $1.7M
FY22
Cash $44.3M
Debt $1.5M
FY23
Cash $27.4M
Debt $1.3M
FY24
Cash $73.9M
Debt $0.7M
FY25
Cash $54.0M
Debt $0.6M
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $49.1M | $44.3M | $27.4M | $73.9M | $54.0M |
| Debt incl. finance leases | $1.7M | $1.5M | $1.3M | $0.7M | $0.6M |
| Debt / equity | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x |
| Interest coverage | β38.3x | β | β | β | β |
| Current ratio | 4.7x | 4.6x | 0.7x | 2.4x | 0.9x |
| Quick ratio | 4.7x | 4.6x | 0.7x | 2.4x | 0.9x |
| Total assets | $99.4M | $111M | $93.5M | $142M | $127M |
| Total liabilities | $16.3M | $57.4M | $52.5M | $35.1M | $69.1M |
| Shareholders' equity | $83.2M | $53.4M | $41.1M | $107M | $58.3M |
| Net debt (β = net cash) | β$47.4M | β$42.8M | β$26.1M | β$73.2M | β$53.4M |
Returns on capital
KIRA Β· Its return on capital was β692.1%: every 100 invested in the business earned about β692 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
FY20
Return on capital β
Return on equity β
Return on assets β80.7%
FY21
Return on capital β67.8%
Return on equity β80.6%
Return on assets β54.8%
FY22
Return on capital β315.1%
Return on equity β53.7%
Return on assets β34.9%
FY23
Return on capital β215.2%
Return on equity β87.8%
Return on assets β40.6%
FY24
Return on capital β148.0%
Return on equity β72.4%
Return on assets β45.5%
FY25
Return on capital β692.1%
Return on equity β91.1%
Return on assets β55.9%
Return on capital
Return on equity
Return on assets
Piotroski F-score
KIRA Β· Nouveau Monde Graphite Inc. passes 2 of 7 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β |
| F-score | β / 3 | 4 / 7 | 2 / 7 | 1 / 7 | 4 / 7 | 2 / 7 |
| Accruals ratio | 0.3% | β7.7% | β2.1% | β11.9% | β13.2% | β33.5% |
| Altman Z'' | β17.17 | 3.32 | β2.64 | β9.11 | β2.32 | β9.27 |
All figures
Every number, year by year.
6 years of figures
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Operating income | β$12.5M | β$30.7M | β$42.4M | β$40.8M | β$63.0M | β$42.7M |
| Interest expense | $0.9M | $0.8M | β | β | β | β |
| Pretax income | β$13.4M | β$31.5M | β$36.3M | β$41.2M | β$53.2M | β$74.9M |
| Income tax | $0.0M | $0.3M | $0.3M | $0.3M | $0.3M | $0.3M |
| Net income | β$13.4M | β$31.8M | β$36.7M | β$41.5M | β$53.5M | β$75.2M |
| Diluted EPS | β$0.51 | β$0.74 | $0.69 | $0.69 | $0.52 | $0.49 |
| Diluted shares | 0.03B | 0.04B | 0.06B | 0.06B | 0.10B | 0.15B |
| Cash flow | ||||||
| Cash from operations | β$13.5M | β$27.4M | β$34.5M | β$29.3M | β$37.9M | β$30.2M |
| Capital expenditure | $0.9M | $29.5M | $20.5M | $7.5M | $10.3M | $9.8M |
| Free cash flow | β$14.4M | β$56.9M | β$55.0M | β$36.7M | β$48.2M | β$39.9M |
| Depreciation and amortization | $0.9M | $0.9M | $3.5M | $6.0M | $6.6M | $5.3M |
| Stock-based compensation | $1.5M | $5.3M | $6.7M | $2.3M | $2.9M | $3.1M |
| Balance sheet | ||||||
| Cash and short-term investments | $3.5M | $49.1M | $44.3M | $27.4M | $73.9M | $54.0M |
| Total debt | $1.4M | $1.7M | $1.5M | $1.3M | $0.7M | $0.6M |
| Current assets | $8.2M | $58.4M | $54.6M | $32.4M | $79.2M | $58.0M |
| Current liabilities | $8.3M | $12.4M | $11.9M | $49.5M | $32.6M | $66.8M |
| Property and equipment, net | $3.3M | $33.1M | $47.4M | $52.1M | $54.0M | $62.4M |
| Intangible assets | $0.7M | $0.4M | $0.1M | $0.0M | β | β |
| Total assets | $16.6M | $99.4M | $111M | $93.5M | $142M | $127M |
| Total liabilities | $20.8M | $16.3M | $57.4M | $52.5M | $35.1M | $69.1M |
| Shareholders' equity | β$4.2M | $83.2M | $53.4M | $41.1M | $107M | $58.3M |
| Returns | ||||||
| Return on capital | β | β67.8% | β315.1% | β215.2% | β148.0% | β692.1% |
| Return on capital employed | β150.2% | β35.3% | β42.8% | β92.7% | β57.7% | β70.4% |
| Return on equity | β | β80.6% | β53.7% | β87.8% | β72.4% | β91.1% |
| Return on assets | β80.7% | β54.8% | β34.9% | β40.6% | β45.5% | β55.9% |
| Return on tangible equity | β | β38.4% | β68.8% | β101.1% | β50.1% | β129.0% |
| Growth | ||||||
| EPS growth | β | β | β | β0.3% | β24.8% | β6.2% |
| Share count change | β | 63.5% | 32.8% | 5.3% | 71.6% | 49.4% |
| Financial health | ||||||
| Debt / equity | β | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x |
| Interest coverage | β13.2x | β38.3x | β | β | β | β |
| Current ratio | 1.0x | 4.7x | 4.6x | 0.7x | 2.4x | 0.9x |
| Quick ratio | 1.0x | 4.7x | 4.6x | 0.7x | 2.4x | 0.9x |
| Quality scores | ||||||
| Piotroski F-score | β | 4.0 | 2.0 | 1.0 | 4.0 | 2.0 |
| Altman Z'' | β17.2 | 3.3 | β2.6 | β9.1 | β2.3 | β9.3 |
| Accruals ratio | 0.3% | β7.7% | β2.1% | β11.9% | β13.2% | β33.5% |
Source: SEC EDGAR XBRL filings (CIK 0001649752). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Filed in CAD under IFRS and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. For information only β not investment advice. Check the original filings before relying on any figure.