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NMG

Nouveau Monde Graphite Inc.

NMG

Nouveau Monde Graphite Inc. • NYSE
$2.95 ▲ 6.88% (+0.19)
Market Cap $449.66 M
52w High $6.06
52w Low $1.22
Dividend Yield 0%
P/E -4.54
Volume 354.95K
Outstanding Shares 152.43M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $-16.967M ▲ $-76.709M ▼ 0% $-0.5 ▼ $-75.435M ▼
Q2-2025 $0 $-19.042M ▼ $-21.016M ▼ 0% $-0.14 ▼ $-18.211M ▼
Q1-2025 $0 $16.031M ▲ $-12.442M ▲ 0% $-0.08 ▲ $-9.791M ▲
Q4-2024 $0 $13.043M ▼ $-21.903M ▼ 0% $-0.19 ▼ $-19.408M ▼
Q3-2024 $0 $16.692M $-8.062M 0% $-0.071 $-5.771M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $61.767M ▼ $161.312M ▼ $112.352M ▲ $48.96M ▼
Q2-2025 $73.462M ▼ $174.804M ▼ $50.453M ▲ $124.351M ▼
Q1-2025 $88.988M ▼ $190.053M ▼ $45.209M ▼ $144.844M ▼
Q4-2024 $106.296M ▲ $204.1M ▲ $50.443M ▲ $153.657M ▲
Q3-2024 $56.502M $147.939M $38.466M $109.473M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-76.709M ▼ $-6.241M ▲ $-5.361M ▼ $-178K ▲ $-11.695M ▲ $-11.602M ▲
Q2-2025 $-21.016M ▼ $-11.899M ▲ $-2.669M ▲ $-528K ▲ $-15.526M ▲ $-14.568M ▲
Q1-2025 $-12.442M ▲ $-13.447M ▲ $-3.191M ▲ $-659K ▼ $-17.308M ▼ $-16.638M ▲
Q4-2024 $-21.903M ▼ $-16.767M ▼ $-5.012M ▲ $70.984M ▲ $49.794M ▲ $-21.461M ▼
Q3-2024 $-8.062M $-11.685M $-5.259M $-351K $-17.374M $-17.075M

Five-Year Company Overview

Income Statement

Income Statement NMG is still a pre‑revenue company. The income statement shows ongoing development costs but no meaningful sales yet. Losses have been steady over the years, which is typical for a company building large mining and processing projects from scratch. Profitability will depend almost entirely on getting its mine and processing facilities built, ramped up, and selling material under its offtake agreements.

Balance Sheet

Balance Sheet The balance sheet reflects an early‑stage asset builder. The company has been growing its asset base as it invests in its projects, and cash balances have improved from very low levels. Debt is present but not yet heavy relative to the size of the business, and shareholder equity has moved from negative to clearly positive. Still, the current balance sheet is sized for a developer, not yet for a full‑scale producer, so additional capital will almost certainly be needed as projects move into construction and ramp‑up.

Cash Flow

Cash Flow Cash flow is consistently negative, both from operations and after capital spending. This is expected for a company that is still building its facilities and not yet selling product. Operating cash outflows show ongoing spending on staff, studies, and overhead. Capital spending has been meaningful but not yet at the level of a full mine and processing plant build‑out. The business is being funded by external capital, and future phases will likely require larger injections of cash, making funding access a central risk and watch point.

Competitive Edge

Competitive Edge NMG is trying to carve out a premium niche: North American, low‑carbon, fully traceable graphite for batteries. Its planned all‑electric mine, clean hydropower, and strong ESG focus clearly differentiate it from traditional producers, especially in China. Vertical integration from mine to anode material, along with offtake and investment ties to major battery and auto players, strengthens its strategic position. However, it is competing against established, large‑scale Chinese producers and a growing group of Western graphite developers. Until NMG is producing at scale, its competitive edge is mostly based on plans, partnerships, and technology rather than proven operating performance.

Innovation and R&D

Innovation and R&D Innovation is a core part of NMG’s story. The company is developing an all‑electric mine, cleaner purification processes that avoid highly toxic chemicals, and more energy‑efficient coating technologies for battery anode materials. It is also exploring advanced graphite uses in fuel cells, composites, and electromagnetic shielding, and looking at recycling opportunities. These efforts, along with patent filings, give NMG a clear technology narrative and potential moat. The main uncertainty is not the ideas themselves but how reliably and economically they can be scaled up in real‑world, large‑volume production.

Summary

NMG is best viewed as an early‑stage, technology‑driven materials developer rather than a traditional mining company at this point. Financials show a business still in build‑out mode: no revenue yet, recurring losses, negative cash flow, and a balance sheet that has improved but will likely need more capital as projects advance. Strategically, NMG is aligned with powerful trends—electrification, supply‑chain security, and low‑carbon materials—and has secured credible partners and differentiated technology. The flip side is high execution and financing risk: the investment case rests on successful construction, ramp‑up, and commercialization over the coming years, with considerable uncertainty around timing, costs, and final economics.

NEWS

November 25, 2025 · 7:00 AM UTC

From Fuel Cells to Stealth Materials: NMG Expands Applications for its Graphite Composites

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November 14, 2025 · 7:00 AM UTC

NMG's Matawinie Mine recognized as a “Major Project of National Interest” by the Government of Canada

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November 12, 2025 · 7:30 AM UTC

NMG Provides a Quarterly Update on the Advancement of its Phase-2 North American Graphite Production

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November 3, 2025 · 8:00 AM UTC

REPEAT/NMG Finalizes Multiple Offtake Agreements for its Phase-2 Graphite Production Demonstrating Strong Support from Canadian Government and Customers

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November 3, 2025 · 7:30 AM UTC

Mason Resources Highlights Nouveau Monde Graphite's Groundbreaking Announcements

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