NOVONIX Balance Sheet Health

Financial Health criteria checks 5/6

NOVONIX has a total shareholder equity of $158.1M and total debt of $64.6M, which brings its debt-to-equity ratio to 40.9%. Its total assets and total liabilities are $240.8M and $82.8M respectively.

Key information

40.9%

Debt to equity ratio

US$64.59m

Debt

Interest coverage ratio	n/a
Cash	US$47.13m
Equity	US$158.07m
Total liabilities	US$82.77m
Total assets	US$240.84m

Recent financial health updates

Recent updates

We Think NOVONIX (ASX:NVX) Has A Fair Chunk Of Debt

Sep 26

Health Check: How Prudently Does NOVONIX (ASX:NVX) Use Debt?

Jun 01

Shareholders Will Probably Hold Off On Increasing NOVONIX Limited's (ASX:NVX) CEO Compensation For The Time Being

Apr 10

Is NOVONIX (ASX:NVX) Weighed On By Its Debt Load?

Mar 01

Is NOVONIX (ASX:NVX) Using Debt In A Risky Way?

Oct 05

Is Novonix (ASX:NVX) Using Debt Sensibly?

May 25

Is Novonix (ASX:NVX) Using Too Much Debt?

Sep 04

Is Novonix (ASX:NVX) Using Too Much Debt?

Jun 02

Who Has Been Buying Novonix Limited (ASX:NVX) Shares?

Mar 01

Could The Novonix Limited (ASX:NVX) Ownership Structure Tell Us Something Useful?

Jan 25

Does Novonix (ASX:NVX) Have A Healthy Balance Sheet?

Dec 21

Financial Position Analysis

Short Term Liabilities: NVX's short term assets ($57.9M) exceed its short term liabilities ($9.4M).

Long Term Liabilities: NVX's short term assets ($57.9M) do not cover its long term liabilities ($73.4M).

Debt to Equity History and Analysis

Debt Level: NVX's net debt to equity ratio (11%) is considered satisfactory.

Reducing Debt: NVX's debt to equity ratio has reduced from 108.8% to 40.9% over the past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss-making in the past, we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: NVX has sufficient cash runway for 11 months based on last reported free cash flow, but has since raised additional capital.

Forecast Cash Runway: NVX is forecast to have sufficient cash runway for 6 months based on free cash flow estimates, but has since raised additional capital.

Discover healthy companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/21 03:54
End of Day Share Price	2024/12/20 00:00
Earnings	2024/06/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

NOVONIX Limited is covered by 5 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Brian Dobson	Chardan Capital Markets, LLC
ZheWei Sim	Jefferies LLC
Adrian Prendergast	Morgans Financial Limited

NOVONIX Balance Sheet Health

Financial Health criteria checks 5/6

Key information

Recent financial health updates

We Think NOVONIX (ASX:NVX) Has A Fair Chunk Of Debt

Health Check: How Prudently Does NOVONIX (ASX:NVX) Use Debt?

Is NOVONIX (ASX:NVX) Weighed On By Its Debt Load?

Is NOVONIX (ASX:NVX) Using Debt In A Risky Way?

Is Novonix (ASX:NVX) Using Debt Sensibly?

Is Novonix (ASX:NVX) Using Too Much Debt?

Recent updates

New minor risk - Shareholder dilution

NOVONIX Limited has filed a Follow-on Equity Offering in the amount of AUD 5 million.

New minor risk - Share price stability

NOVONIX Limited to Report Q3, 2024 Results on Oct 30, 2024

We Think NOVONIX (ASX:NVX) Has A Fair Chunk Of Debt

Director recently sold AU$93k worth of stock

First half 2024 earnings: EPS exceeds analyst expectations while revenues lag behind

NOVONIX Limited Announces Board Changes

Health Check: How Prudently Does NOVONIX (ASX:NVX) Use Debt?

NOVONIX Limited Announces Resignation of Nick Liveris as Chief Financial Officer

Price target decreased by 9.1% to AU$1.00

Shareholders Will Probably Hold Off On Increasing NOVONIX Limited's (ASX:NVX) CEO Compensation For The Time Being

New minor risk - Share price stability

Axon Graphite Limited signed a definitive agreement to acquire Md South Tenements Pty. Ltd. from NOVONIX Limited (ASX:NVX) for approximately AUD 10 million on April 3, 2024.

NOVONIX Limited, Annual General Meeting, Apr 17, 2024

Is NOVONIX (ASX:NVX) Weighed On By Its Debt Load?

Full year 2023 earnings: EPS and revenues exceed analyst expectations

NOVONIX Limited Appoints Sharan Burrow AC to Its Board of Directors, Effective 28 February, 2024

NOVONIX Limited to Report Q4, 2023 Results on Jan 30, 2024

Daniel Akerson Resigns from NOVONIX Limited Board of Directors

New major risk - Revenue and earnings growth

NOVONIX Limited to Report Q3, 2023 Results on Oct 26, 2023

New major risk - Share price stability

Is NOVONIX (ASX:NVX) Using Debt In A Risky Way?

Non-Executive Chairman recently bought AU$296k worth of stock

Novonix Limited Provide an Update on Production from Its Proprietary, Continuous Induction Generation 3 Furnaces

Novonix Limited Announces the Cessation of Zhanna Golodryga as Director

Novonix Limited Announces Board Changes

Non-Executive Chairman exercised options to buy AU$534k worth of stock.

First half 2023 earnings released: US$0.058 loss per share (vs US$0.064 loss in 1H 2022)

Novonix Limited's Battery Technology Solutions Division Commissions Zero-Waste Cathode Pilot Line

Non-Executive Chairman recently sold AU$356k worth of stock

Novonix Limited announced that it expects to receive AUD 45.05 million in funding from LG Energy Solution, Ltd.

Is Novonix (ASX:NVX) Using Debt Sensibly?

Forecast to breakeven in 2024

First half 2023 earnings released: US$0.057 loss per share (vs US$0.047 loss in 1H 2022)

Price target increased to AU$3.11

Less than half of directors are independent

Less than half of directors are independent

Novonix Limited Announces Board Appointments

Forecast to breakeven in 2024

Price target increased to AU$3.11

Consensus forecasts updated

Is Novonix (ASX:NVX) Using Too Much Debt?

Novonix Limited, Annual General Meeting, Oct 26, 2022

Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Novonix Limited, Annual General Meeting, Oct 26, 2022

Independent Non-Executive Director exercised options to buy AU$162k worth of stock.

Consensus forecasts updated

No longer forecast to breakeven

Is Novonix (ASX:NVX) Using Too Much Debt?

Novonix Limited Announces Board Changes

Consensus forecasts updated

NOVONIX Limited Announces Appointment of Jean Oelwang to Board of Directors

Price target decreased to AU$7.44

First half 2022 earnings: EPS and revenues miss analyst expectations

Consensus forecasts updated

Price target decreased to AU$6.97

Consensus forecasts updated

NOVONIX Limited Announces Preliminary Results of Environmental Impact Study

Non-Executive Director Gregory Baynton has left the company

Full year 2021 earnings released: AU$0.049 loss per share (vs AU$0.15 loss in FY 2020)

Price target increased to AU$3.62

Novonix Limited announced that it expects to receive $150 million in funding from Phillips 66

Independent Non-Executive Director exercised options to buy AU$5.6m worth of stock.

First half 2021 earnings released: AU$0.031 loss per share (vs AU$0.055 loss in 1H 2020)

Who Has Been Buying Novonix Limited (ASX:NVX) Shares?

Novonix Limited has completed a Follow-on Equity Offering in the amount of AUD 115.13 million.

Could The Novonix Limited (ASX:NVX) Ownership Structure Tell Us Something Useful?