Northern Dynasty Minerals Ltd. (NAK) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-89.8%

$0.07

vs $0.64 price

Levered DCF

$0.07

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

-9.44

Distress zone

Rating

C-

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-14.23×	-12.44×	-10.81×	-6.49×	-6.8×	-3.16×	-2.92×	-15.2×
P/B	83.87×	4.63×	1.84×	1.11×	1.38×	1.13×	1.44×	1.64×
P/S	0×	0×	0×	0×	0×	0×	0×	0×
EV / EBITDA	-13.94×	-23.64×	-13.47×	-6.03×	-7.88×	-2.41×	-2.76×	-3.45×
Gross margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Operating margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Net margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Current ratio	0.55×	0.46×	1.04×	8.13×	9.97×	5.93×	0.98×	2.49×
Debt / equity	0.18×	0.04×	0.02×	0×	0×	0.01×	0.02×	0×
Interest coverage	-25.75×	-22.25×	-208.16×	-367.25×	-368.46×	-682.58×	-513.17×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-588.7%	-37.2%	-12.8%	-17.1%	-16.0%	-37.2%	-50.0%	-10.8%
Return on invested capital	-111.1%	-18.2%	-13.3%	-17.2%	-15.7%	-36.2%	-48.7%	-42.6%
Return on assets	-86.3%	-26.4%	-11.0%	-16.8%	-15.7%	-35.5%	-44.7%	-9.9%
Free cash flow yield	-1.6%	-3.8%	-9.7%	-15.1%	-15.1%	-29.7%	-32.5%	-26.4%
Earnings yield	-7.0%	-8.0%	-7.0%	-15.4%	-11.6%	-32.9%	-34.8%	-6.6%
Enterprise value	$1.4B	$437.1M	$211.4M	$144.8M	$193.4M	$153M	$187.5M	$227.7M
Net debt / EBITDA	0.5×	0.69×	0.99×	0.56×	0.88×	0.66×	0.17×	0.23×
Cash conversion cycle (days)	-2,427	-3,188	-2,740	-5,907	-2,697	-4,307	-6,996	-8,267