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NOVONIX Limited American Depository Shares (NVX)

Nasdaq: NVX · Miscellaneous Electrical Machinery, Equipment & Supplies · Brisbane · filing with the SEC since 2021
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Grade4.2
◀ Past 5.4● Present 3.6▶ Future 3.9
2 est.
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The grade of NOVONIX Limited American Depository Shares

Nine metrics read from its own filings, by tense
Headline grade
4.2/10
◀ Past5.430% of the headline
● Present3.640% of the headline
▶ Future3.930% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

5.4/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
8.8/10

Has it survived what it has been through?

No warning events in its filings since 2021.

weight 33% of this tense · 88th percentile among 43 sector filers · read for itself

From the record

NOVONIX Limited American Depository Shares' filings since 2021 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
3.8/10

What has it actually done, year after year?

+13.1% a year over 6 filed years; profitable in 0 of 6.

weight 45% of this tense · 38th percentile among 35 sector filers · read for its customers

From the record

NOVONIX Limited American Depository Shares' 6 filed years say what it did: revenue went from $3 million in fiscal 2020 to $6 million in fiscal 2025, up 13.1% a year; it rose in 3 of 5 years; the deepest fall was 30% from fiscal 2023 to fiscal 2025; net income was positive in 0 of 6 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span13.1%bottom 42% of its family
  • the share of years revenue rosebottom 39% of its family
  • the share of filed years with a profitbottom 26% of its family
  • the deepest fall from a revenue peak30.3%bottom 44% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
3.5/10

How has it treated the people who own it?

SI estimate 3.5/10, confidence 35 of 100 (one part).

weight 22% of this tense · 36th percentile among 39 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the share count over the years, which ranks in the bottom 36% of 39 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: the share count over the years, the one part on file, ranked among 39 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: NOVONIX Limited American Depository Shares's shareholder treatment is put at 3.5 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 36% of 39 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

3.6/1040% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed
4.5/10

Is it financially healthy right now?

ROE -57%: lost 57¢ per shareholder dollar. Leverage 43%: owes 43¢ per asset dollar.

weight 45% of this tense · 45th percentile among 39 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, NOVONIX Limited American Depository Shares lost about 57 cents for every dollar of shareholders' money. Leverage: it owed about 43 cents per dollar of assets, and net share issuance: its share count grew 37.2% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 30% of its family
  • return on equitybottom 46% of its family
  • the share count against the year beforebottom 20% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
1.4/10

How strong is its position in its industry?

bottom 14% of 39 in its family; net margin -1650.8%.

weight 33% of this tense · 14th percentile among 39 sector filers · read for its customers

From the record

NOVONIX Limited American Depository Shares' standing among 39 graded names in its industry family: revenue of $6 million in fiscal 2025 ranks in the bottom 10% by size; a net margin of -1650.8% ranks in the bottom 6%; revenue growth of -2.3% a year over the last 3 filed years ranks in the bottom 24% (its annual reports).

What it rests on

  • revenue against the family$5.6Mbottom 10% of its family
  • net margin-1650.8%bottom 6% of its family
  • three-year revenue growth-2.3%bottom 24% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate
5.0/10

What are the people in charge doing?

SI estimate 5.0/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 27 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-16 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 27 members with one.
What the record cannot read
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-16 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned
family median, 27 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: NOVONIX Limited American Depository Shares's leadership is put at 5.0 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-16 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 27 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

3.9/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
4.0/10

How much room does it have to grow?

bottom 40% of 39 in its family for room to expand.

weight 45% of this tense · 40th percentile among 39 sector filers · read for itself

From the record

NOVONIX Limited American Depository Shares' room to grow, from the newest filed statements (fiscal 2025): cash of $80 million against debt of $94 million leaves -4.9% of its assets as net cash, bottom 30% of its family; cash from operations less capital spending is -1822.5% of revenue (bottom 6%); research spending of 101% of revenue (top 17%) (its annual report).

What it rests on

  • cash less debt against assets-4.9%bottom 30% of its family
  • cash from operations less capital spending against revenue-1822.5%bottom 6% of its family
  • research spending against revenue101.0%top 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
4.3/10

What could actually drive growth from here?

bottom 43% of 35 in its family for growth drivers.

weight 33% of this tense · 43rd percentile among 35 sector filers · read for its customers

From the record

NOVONIX Limited American Depository Shares' growth drivers, from the filed years to fiscal 2025: revenue grew -2.3% a year over the last three filed years against 13.1% over all 6, slowing (bottom 33% of its family); the newest year grew -4.1% (bottom 36%); research spending grew 3.1% a year (top 48%); capital spending grew -9% a year (top 50%) (its annual reports). NOVONIX Limited American Depository Shares tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span-15.4 points a yearbottom 33% of its family
  • the newest year's revenue growth-4.1%bottom 36% of its family
  • three-year growth of research spending3.1%top 48% of its family
  • three-year growth of capital spending-9.0%top 50% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
3.2/10

Did its newest year beat what its own record pointed to?

bottom 32% of 35 in its family for expectations against reality.

weight 22% of this tense · 32nd percentile among 35 sector filers · read for its shareholders

From the record

NOVONIX Limited American Depository Shares' newest year against its own record: revenue of $6 million in fiscal 2025 came in 2.5% below the $6 million its prior three years' pace pointed to (top 50% of its family); net income of $93 million against a prior three-year average of $58 million (bottom 44%); a net margin of a loss larger than its revenue against losses larger than its revenue before (bottom 1%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-2.5%top 50% of its family
  • net income against the prior three years' average-61%bottom 44% of its family
  • net margin against its prior averagedown more than 100 pointsbottom 1% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton NVX · research, not advice