NioCorp Developments (NB)
Market Price (5/22/2026): $5.36 | Market Cap: $708.1 MilSector: Materials | Industry: Diversified Metals & Mining
NioCorp Developments (NB)
Market Price (5/22/2026): $5.36Market Cap: $708.1 MilSector: MaterialsIndustry: Diversified Metals & Mining
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -60% Megatrend and thematic driversMegatrends include Battery Technology & Metals, Advanced Materials, and Offshore Wind Development. Themes include Rare Earth Elements, Show more. | Weak multi-year price returns3Y Excs Rtn is -71% | Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -34 Mil Stock price has recently run up significantly12M Rtn12 month market price return is 123% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -12% High stock price volatilityVol 12M is 108% Key risksNB key risks include [1] a substantial going concern threat from its critical need to secure approximately $1.14 billion in financing for its developmental-stage Elk Creek Project and [2] significant execution risk in successfully constructing and commissioning the project as a pre-production company. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -60% |
| Megatrend and thematic driversMegatrends include Battery Technology & Metals, Advanced Materials, and Offshore Wind Development. Themes include Rare Earth Elements, Show more. |
| Weak multi-year price returns3Y Excs Rtn is -71% |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -34 Mil |
| Stock price has recently run up significantly12M Rtn12 month market price return is 123% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -12% |
| High stock price volatilityVol 12M is 108% |
| Key risksNB key risks include [1] a substantial going concern threat from its critical need to secure approximately $1.14 billion in financing for its developmental-stage Elk Creek Project and [2] significant execution risk in successfully constructing and commissioning the project as a pre-production company. |
Qualitative Assessment
AI Analysis | Feedback
1. Substantial Share Dilution from Multiple Equity Offerings.
NioCorp completed significant equity raises during the period, including a $100 million public offering of common shares in February 2026. Overall, equity financing contributed $380 million, leading to a 65.7% increase in share dilution, with the share count rising to 76.1 million from 45.9 million shares (and from 45 million to 132 million year-over-year). This substantial increase in outstanding shares to fund ongoing development activities for the Elk Creek project has likely exerted downward pressure on the stock price per share.
2. Persistent Uncertainty in Securing Full Elk Creek Project Financing.
Despite positive developments such as the signing of a non-binding offtake and marketing agreement with Traxys North America in April 2026, which also included a potential $30 million strategic investment, the full $1.1 billion capital expenditure for the Elk Creek Critical Minerals Project is not yet entirely secured. While NioCorp is actively advancing its application for up to $800 million in debt financing from the U.S. Export-Import Bank, the outstanding nature of this substantial funding requirement contributes to investor apprehension regarding project certainty and timeline.
Show more
Stock Movement Drivers
Fundamental Drivers
The -9.8% change in NB stock from 1/31/2026 to 5/21/2026 was primarily driven by a -42.4% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 1312026 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.90 | 5.32 | -9.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 76 | 132 | -42.4% |
| Cumulative Contribution | 0.0% |
Market Drivers
1/31/2026 to 5/21/2026| Return | Correlation | |
|---|---|---|
| NB | -9.8% | |
| Market (SPY) | 7.6% | 46.7% |
| Sector (XLB) | 2.0% | 44.0% |
Fundamental Drivers
The -27.8% change in NB stock from 10/31/2025 to 5/21/2026 was primarily driven by a -58.4% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 10312025 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.37 | 5.32 | -27.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 55 | 132 | -58.4% |
| Cumulative Contribution | 0.0% |
Market Drivers
10/31/2025 to 5/21/2026| Return | Correlation | |
|---|---|---|
| NB | -27.8% | |
| Market (SPY) | 9.5% | 43.2% |
| Sector (XLB) | 17.9% | 33.8% |
Fundamental Drivers
The 113.7% change in NB stock from 4/30/2025 to 5/21/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302025 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.49 | 5.32 | 113.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 41 | 132 | -68.8% |
| Cumulative Contribution | 0.0% |
Market Drivers
4/30/2025 to 5/21/2026| Return | Correlation | |
|---|---|---|
| NB | 113.7% | |
| Market (SPY) | 35.5% | 18.6% |
| Sector (XLB) | 21.6% | 15.5% |
Fundamental Drivers
The -9.4% change in NB stock from 4/30/2023 to 5/21/2026 was primarily driven by a -78.8% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 4302023 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.87 | 5.32 | -9.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 28 | 132 | -78.8% |
| Cumulative Contribution | 0.0% |
Market Drivers
4/30/2023 to 5/21/2026| Return | Correlation | |
|---|---|---|
| NB | -9.4% | |
| Market (SPY) | 85.6% | 10.1% |
| Sector (XLB) | 31.7% | 10.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NB Return | 0% | 0% | -28% | -51% | 242% | -2% | 18% |
| Peers Return | 30% | -8% | 13% | -14% | 39% | 57% | 154% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 98% |
Monthly Win Rates [3] | |||||||
| NB Win Rate | 0% | 0% | 17% | 42% | 67% | 40% | |
| Peers Win Rate | 55% | 48% | 47% | 45% | 50% | 72% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| NB Max Drawdown | 0% | 0% | -61% | -64% | -56% | -46% | |
| Peers Max Drawdown | -36% | -49% | -41% | -40% | -53% | -26% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MP, ATI, CC, TROX, KRO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/21/2026 (YTD)
How Low Can It Go
| Event | NB | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -30.4% | -18.8% |
| % Gain to Breakeven | 43.6% | 23.1% |
| Time to Breakeven | 33 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -35.0% | -9.5% |
| % Gain to Breakeven | 53.9% | 10.5% |
| Time to Breakeven | 606 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -36.3% | -6.7% |
| % Gain to Breakeven | 57.1% | 7.1% |
| Time to Breakeven | 871 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -31.2% | -33.7% |
| % Gain to Breakeven | 45.3% | 50.9% |
| Time to Breakeven | 1098 days | 140 days |
| 2013 Taper Tantrum | ||
| % Loss | -10.4% | -0.2% |
| % Gain to Breakeven | 11.6% | 0.2% |
| Time to Breakeven | 3 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -52.3% | -17.9% |
| % Gain to Breakeven | 109.7% | 21.8% |
| Time to Breakeven | 120 days | 123 days |
In The Past
NioCorp Developments's stock fell -30.4% during the 2025 US Tariff Shock. Such a loss loss requires a 43.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | NB | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -30.4% | -18.8% |
| % Gain to Breakeven | 43.6% | 23.1% |
| Time to Breakeven | 33 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -35.0% | -9.5% |
| % Gain to Breakeven | 53.9% | 10.5% |
| Time to Breakeven | 606 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -36.3% | -6.7% |
| % Gain to Breakeven | 57.1% | 7.1% |
| Time to Breakeven | 871 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -31.2% | -33.7% |
| % Gain to Breakeven | 45.3% | 50.9% |
| Time to Breakeven | 1098 days | 140 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -52.3% | -17.9% |
| % Gain to Breakeven | 109.7% | 21.8% |
| Time to Breakeven | 120 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -63.1% | -15.4% |
| % Gain to Breakeven | 171.3% | 18.2% |
| Time to Breakeven | 110 days | 125 days |
In The Past
NioCorp Developments's stock fell -30.4% during the 2025 US Tariff Shock. Such a loss loss requires a 43.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About NioCorp Developments (NB)
AI Analysis | Feedback
Here are 1-3 brief analogies for NioCorp Developments (NB):
- Albemarle for advanced industrial metals.
- Corning for future-facing metals.
- A specialized Freeport-McMoRan for critical minerals.
AI Analysis | Feedback
- Niobium: A critical refractory metal used in high-strength low-alloy steel, superalloys, and other advanced materials.
- Scandium: A lightweight and high-strength metal primarily used in aluminum-scandium alloys for aerospace and sporting goods, as well as in solid oxide fuel cells.
- Titanium: A strong, lightweight, and corrosion-resistant metal used in aerospace, medical implants, and various industrial applications.
AI Analysis | Feedback
NioCorp Developments Ltd. (NB) is a development-stage company focused on exploring for and developing its Elk Creek niobium/scandium/titanium project. As such, it is not yet in commercial production and therefore does not have current major customers generating revenue from sales.
Once the Elk Creek project becomes operational and begins production, NioCorp's primary customers are expected to be other industrial companies that utilize niobium, scandium, and titanium in their manufacturing processes. Based on the end-use applications of these critical minerals, the major categories of customers NioCorp would serve include:
- Aerospace, Defense, and Advanced Manufacturing Companies: These companies require high-performance materials for applications such as jet engines, aircraft structures, rockets, military equipment, and other specialized components. Niobium, scandium, and titanium are critical for their exceptional strength-to-weight ratios, high temperature resistance, and corrosion properties.
- Automotive, Construction, and Energy Sector Companies: This category includes manufacturers of high-strength low-alloy (HSLA) steels, which utilize niobium to improve material strength, reduce weight, and enhance durability for vehicles, pipelines, and structural infrastructure. Titanium also finds applications in certain energy and industrial equipment due to its corrosion resistance.
- Specialty Alloys, Electronics, and Medical Device Manufacturers: Companies producing custom superalloys, advanced electronic components (e.g., solid oxide fuel cells where scandium is used), and medical implants (where titanium is highly valued for its biocompatibility) would be key customers.
AI Analysis | Feedback
Mark A. Smith Executive Chairman, President and CEO
Mr. Smith joined NioCorp as CEO and Chairman in 2013 and has over 40 years of experience in the mining and mineral processing industries. He previously served as President, CEO & Director of Molycorp, where he was instrumental in taking the company from private to publicly traded with a producing mine. His past leadership roles also include CEO and Director of Largo Resources, CEO and President of Chevron Mining, and Director of Companhia Brasileira de Metalurgia e Mineracao Ltd. (“CBMM”). Mr. Smith has successfully led efforts to raise over $3 billion for prior mining and manufacturing projects. He currently also serves as CEO and Chairman of IBC Advanced Alloys and as Chairman of U.S. Vanadium LLC.
Neal Shah Chief Financial Officer & Corporate Secretary
Mr. Shah joined NioCorp in September 2014 and was appointed CFO in July 2016. He brings nearly 20 years of experience across diverse industries, including high-tech and rare earths. His prior experience includes senior positions at Molycorp, Intel (where he was a Finance Manager), IBM, Boeing, and Covidien. Mr. Shah possesses an extensive background in corporate finance, treasury, financial planning and analysis, strategic planning, and risk management.
Scott Honan Chief Operating Officer of NioCorp; President of Elk Creek Resources Corp.
Mr. Honan joined NioCorp in 2014 as Vice President of Business Development and was promoted to Chief Operating Officer in July 2020. He has over 29 years of experience in the niobium, base metals, gold, and rare earth industries. Prior to NioCorp, he held leadership roles at Molycorp from 2001 to 2014, including General Manager and Environmental Manager, and Vice President of Health, Environment, Safety and Sustainability.
Ernest Cleave Senior Vice President, Business Development
Mr. Cleave is a veteran with 20 years of experience in the mining, mineral processing, and energy industries. His career encompasses leadership positions at various mining and energy companies, including President and CEO of Tinova Resources, Chief Financial Officer of Largo Resources, Interim President of Largo Clean Energy, Chief Financial Officer of Cline Mining, Chief Financial Officer of Petrolympic, Global Lead of Sarbanes-Oxley Compliance at Glencore (previously Falconbridge), and Treasurer and Director of Financial Planning and Analysis at Goldcorp.
Jim Sims Chief Communications Officer
Mr. Sims is responsible for investor relations, media relations, marketing, and government affairs at NioCorp. He has over 25 years of experience in devising and executing marketing, media relations, public affairs, and investor relations operations for companies such as Dow Chemical, Calpine, FMC, MidAmerican Energy, and Danaher. Previously, he served as Vice President of Corporate Communications for Molycorp, Inc. Mr. Sims is also the former President of the U.S. Geothermal Energy Association and Western Business Roundtable and was Chairman of the Rare Earth Technology Alliance.
AI Analysis | Feedback
The key risks for NioCorp Developments (NB) are primarily centered around its status as a pre-revenue mineral development company with a large-scale project under development.
- Project Financing and Capital Risk / Shareholder Dilution: NioCorp is a pre-revenue company that requires substantial capital to fund the construction and development of its Elk Creek Critical Minerals Project. This necessitates ongoing reliance on equity and debt financing, which can lead to significant dilution for existing shareholders. The company's need for "significant additional capital" is a recurring concern, and the risk of "dilution from ongoing equity/debt financing" is explicitly stated. Recent equity raises have already resulted in "further dilution".
- Execution Risk and Construction Delays: The Elk Creek project involves a complex "big build" and is still in the development phase, with commercial production not anticipated for several years (projected for 2028). There is a considerable risk of "construction delays", "cost overruns during permitting, feasibility studies, and construction", and "operating or technical difficulties in connection with exploration, mining, or development activities". These delays or complications could significantly push back the start of revenue generation and increase overall project costs.
- Commodity Price Volatility: Once in production, NioCorp's revenue and profitability will be directly influenced by the market prices of niobium, scandium, and titanium. These commodity prices are subject to fluctuations driven by economic cycles and market demand, presenting a "sector-specific risk" and the risk of "changes in demand for and price of commodities".
AI Analysis | Feedback
nullAI Analysis | Feedback
NioCorp Developments Ltd. (symbol: NB) focuses on the exploration and development of niobium, scandium, and titanium deposits. The addressable markets for their main products are global.
- Niobium: The global niobium market size was over USD 3.4 billion in 2025 and is estimated to reach USD 6.5 billion by the end of 2035, expanding at a compound annual growth rate (CAGR) of 6.8% from 2026 to 2035.
- Scandium: The global scandium market size is projected to be USD 0.89 billion in 2025, USD 1.02 billion in 2026, and is forecast to reach USD 2.01 billion by 2031, growing at a CAGR of 14.53% from 2026 to 2031.
- Titanium: The global titanium market was valued at USD 28.2 billion in 2025, increased to USD 29.84 billion in 2026, and is projected to reach USD 37.79 billion by 2030.
AI Analysis | Feedback
Here are the expected drivers of future revenue growth for NioCorp Developments (NB) over the next 2-3 years:
- Commencement of Commercial Production at the Elk Creek Project: As a pre-revenue company, NioCorp's primary driver of future revenue growth is the successful transition of its Elk Creek niobium/scandium/titanium project from development to commercial operation. The company has begun construction of the mine's main entrance portal, a critical step towards full construction. Analysts and company statements indicate that revenue generation is forecast to begin around 2028, with some projections extending to 2029 for project completion.
- Securing Full Project Financing: NioCorp's ability to achieve commercial operation, and thus generate revenue, hinges on securing the substantial capital required to complete the Elk Creek Project. The company is actively pursuing debt financing, including a significant loan application with the Export-Import Bank of the U.S. (EXIM) for up to $800 million, and is working to finalize remaining equity financing. Successful financing is the last major step before the formal launch of full construction.
- Offtake Agreements and Market Demand for Critical Minerals: NioCorp has already established definitive, enforceable offtake agreements covering 75% of its projected ferroniobium production and a portion of its scandium trioxide. The demand for niobium (used in high-strength steel and EV batteries), scandium (for aerospace alloys and solid oxide fuel cells), and titanium is expected to see strong growth. These agreements and the growing market for these critical minerals provide a foundation for future revenue streams upon production.
- Potential for Rare Earth Element Production: NioCorp is evaluating the potential to add several rare earth elements to its planned product suite from the Elk Creek Project. The inclusion of rare earth elements, particularly magnetic rare earth oxides, could offer an additional significant revenue stream, especially given surging non-Chinese rare earth prices and projected supply shortages. This diversification would also contribute to revenue stability and risk mitigation.
- U.S. Government Support and Strategic Importance: The Elk Creek project is strategically important for the U.S. to reduce its dependence on foreign sources for critical minerals. This alignment with U.S. government priorities has led to support, including potential funding from the U.S. Department of Defense, which can de-risk the project and facilitate its development and market penetration, ultimately bolstering future revenue generation.
AI Analysis | Feedback
Share Issuance
- NioCorp closed a public offering in February 2026, raising approximately $100.0 million by issuing 20,000,000 common shares (or pre-funded warrants) at $5.00 per share.
- In October 2025, the company completed a registered direct offering for approximately $150.2 million, involving 16,077,175 common shares (or pre-funded warrants) at $9.34 per share.
- NioCorp also closed a public offering in September 2025, generating approximately $60.0 million from the issuance of 9,760,000 common shares (or pre-funded warrants) at $6.15 per share.
Inbound Investments
- The U.S. Department of Defense awarded NioCorp's subsidiary, Elk Creek Resources Corp., up to $10 million under Title III of the Defense Production Act in August 2025 to support scandium oxide production and related technological advancements at the Elk Creek Project.
- The U.S. Export-Import Bank (EXIM) is actively processing an application for up to $800 million in potential debt financing for the Elk Creek Critical Minerals Project.
Outbound Investments
- In December 2025, NioCorp completed an $8.4 million all-cash acquisition of the manufacturing assets and intellectual property of Massachusetts-based FEA Materials LLC. This strategic move aims to enable NioCorp to produce aluminum-scandium master alloy domestically and build a vertically integrated scandium supply chain.
- NioCorp acquired key land parcels for its Elk Creek Critical Minerals Project, including three strategic parcels in August 2025 and a full square mile of land by November 2025, securing surface and mineral rights necessary for its planned mine and processing facility. The land acquisitions were funded through over $360 million in gross proceeds raised from equity markets over the past year, with specific parcels costing approximately $11.3 million.
Capital Expenditures
- In March 2026, NioCorp began construction of the main access portal for the Elk Creek Critical Minerals Project, with an estimated capital cost of approximately $44.6 million, expected to last around nine months.
- The overall Elk Creek Critical Minerals Project has an estimated upfront capital cost of approximately US$1.14 billion, based on NioCorp's 2022 feasibility study.
- The company incurred $6.8 million in expenses during Q3 2025 for a drilling campaign at the Elk Creek Project, which supported critical minerals exploration and the ongoing update of its feasibility study.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| NioCorp Developments Earnings Notes | 12/16/2025 |
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to NB.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 04302026 | CDE | Coeur Mining | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 03272026 | AXTA | Axalta Coating Systems | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 5.9% | 5.9% | -2.7% |
| 03272026 | IFF | International Flavors & Fragrances | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | -1.1% | -1.1% | -3.0% |
| 03132026 | IP | International Paper | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | -18.3% | -18.3% | -18.3% |
| 03062026 | ARIS | Aris Mining | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -7.4% | -7.4% | -16.7% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 14.57 |
| Mkt Cap | 2.2 |
| Rev LTM | 2,400 |
| Op Inc LTM | -63 |
| FCF LTM | -1 |
| FCF 3Y Avg | -75 |
| CFO LTM | 39 |
| CFO 3Y Avg | 68 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 0.6% |
| Rev Chg 3Y Avg | -2.8% |
| Rev Chg Q | 3.0% |
| QoQ Delta Rev Chg LTM | 0.8% |
| Op Inc Chg LTM | -125.7% |
| Op Inc Chg 3Y Avg | -24.5% |
| Op Mgn LTM | -2.5% |
| Op Mgn 3Y Avg | 1.1% |
| QoQ Delta Op Mgn LTM | -0.7% |
| CFO/Rev LTM | 2.9% |
| CFO/Rev 3Y Avg | 2.6% |
| FCF/Rev LTM | 1.8% |
| FCF/Rev 3Y Avg | -3.7% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 2.2 |
| P/S | 0.6 |
| P/Op Inc | -18.7 |
| P/EBIT | -12.1 |
| P/E | -6.9 |
| P/CFO | 12.2 |
| Total Yield | -9.2% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -7.8% |
| D/E | 0.4 |
| Net D/E | 0.4 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -7.7% |
| 3M Rtn | 5.7% |
| 6M Rtn | 64.8% |
| 12M Rtn | 110.6% |
| 3Y Rtn | -1.6% |
| 1M Excs Rtn | -14.9% |
| 3M Excs Rtn | 4.3% |
| 6M Excs Rtn | 47.7% |
| 12M Excs Rtn | 78.0% |
| 3Y Excs Rtn | -75.2% |
Price Behavior
| Market Price | $5.32 | |
| Market Cap ($ Bil) | 0.6 | |
| First Trading Date | 03/09/2010 | |
| Distance from 52W High | -54.4% | |
| 50 Days | 200 Days | |
| DMA Price | $5.32 | $5.93 |
| DMA Trend | up | up |
| Distance from DMA | -0.1% | -10.2% |
| 3M | 1YR | |
| Volatility | 81.2% | 108.3% |
| Downside Capture | 469.29 | 255.76 |
| Upside Capture | 317.43 | 275.87 |
| Correlation (SPY) | 54.0% | 22.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.35 | 2.95 | 2.82 | 2.89 | 1.42 | 0.57 |
| Up Beta | 2.09 | 1.92 | 1.99 | 1.52 | 0.45 | 0.13 |
| Down Beta | 8.10 | 0.26 | 0.01 | 1.52 | 0.97 | 0.11 |
| Up Capture | 445% | 504% | 442% | 589% | 422% | 93% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 13 | 22 | 31 | 63 | 132 | 350 |
| Down Capture | 1113% | 345% | 334% | 260% | 149% | 105% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 9 | 21 | 33 | 62 | 118 | 384 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NB | |
|---|---|---|---|---|
| NB | 121.4% | 108.3% | 1.23 | - |
| Sector ETF (XLB) | 17.2% | 16.9% | 0.77 | 17.6% |
| Equity (SPY) | 26.8% | 12.1% | 1.67 | 22.7% |
| Gold (GLD) | 37.5% | 26.8% | 1.16 | 31.6% |
| Commodities (DBC) | 43.5% | 18.6% | 1.80 | -1.1% |
| Real Estate (VNQ) | 12.0% | 13.4% | 0.59 | 2.3% |
| Bitcoin (BTCUSD) | -27.2% | 41.8% | -0.65 | 24.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NB | |
|---|---|---|---|---|
| NB | -7.2% | 91.9% | 0.27 | - |
| Sector ETF (XLB) | 4.7% | 18.9% | 0.15 | 10.6% |
| Equity (SPY) | 13.8% | 17.0% | 0.64 | 10.2% |
| Gold (GLD) | 19.3% | 18.0% | 0.87 | 23.3% |
| Commodities (DBC) | 10.8% | 19.4% | 0.44 | 0.7% |
| Real Estate (VNQ) | 3.8% | 18.8% | 0.10 | 6.2% |
| Bitcoin (BTCUSD) | 9.3% | 55.6% | 0.37 | 17.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NB | |
|---|---|---|---|---|
| NB | -2.3% | 85.7% | 0.31 | - |
| Sector ETF (XLB) | 10.2% | 20.6% | 0.44 | 12.1% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 11.1% |
| Gold (GLD) | 13.2% | 16.0% | 0.68 | 22.5% |
| Commodities (DBC) | 7.8% | 17.9% | 0.35 | 4.6% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.22 | 8.7% |
| Bitcoin (BTCUSD) | 67.3% | 66.9% | 1.06 | 13.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 1/12/2026 | 9.5% | 4.9% | -2.5% |
| 10/14/2025 | 3.1% | -14.2% | -47.2% |
| 7/16/2025 | -19.8% | -17.3% | 16.0% |
| 4/11/2025 | 18.4% | 43.2% | 15.5% |
| 11/8/2024 | 4.3% | 0.0% | 22.0% |
| 8/27/2024 | -2.7% | -8.2% | 12.1% |
| 9/6/2023 | -3.0% | 4.3% | -2.7% |
| SUMMARY STATS | |||
| # Positive | 4 | 4 | 4 |
| # Negative | 3 | 3 | 3 |
| Median Positive | 6.9% | 4.6% | 15.8% |
| Median Negative | -3.0% | -14.2% | -2.7% |
| Max Positive | 18.4% | 43.2% | 22.0% |
| Max Negative | -19.8% | -17.3% | -47.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/06/2026 | 10-Q |
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 09/11/2025 | 10-K |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/07/2025 | 10-Q |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 09/23/2024 | 10-K |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/13/2024 | 10-Q |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 10/06/2023 | 10-K |
| 03/31/2023 | 05/30/2023 | 10-Q |
| 12/31/2022 | 02/13/2023 | 10-Q |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 09/06/2022 | 10-K |
| 03/31/2022 | 05/06/2022 | 10-Q |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.