NYSEAMERICAN : NAK
Northern Dynasty Minerals Ltd. — Financial statements
Materials · Other Industrial Metals & Mining · Canada
Last price 0.8104 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 451.22M
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Financial statements
Income statement
Fiscal year January - December; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Selling, General & Admin | 18.36M | 15.84M | 13.00M | 18.23M | 15.34M | 18.79M |
| Operating Expenses | 27.14M | 23.22M | 18.65M | 25.96M | 24.61M | 31.23M |
| Operating Income | -27.14M | -23.22M | -18.65M | -25.96M | -24.61M | -31.23M |
| Interest Expense | -886.00K | -902.00K | -824.00K | -81.00K | -67.00K | -67.00K |
| Interest & Investment Income | 634.00K | 592.00K | 860.00K | 270.00K | 279.00K | 176.00K |
| Currency Exchange Gain (Loss) | -89.00K | -171.00K | 836.00K | -149.00K | 55.00K | -456.00K |
| Other Non Operating Income (Expenses) | -80.21M | -80.29M | -18.62M | 1.20M | 3.00K | 16.00K |
| EBT Excluding Unusual Items | -107.69M | -104.00M | -36.40M | -24.72M | -24.34M | -31.56M |
| Gain (Loss) on Sale of Assets | 1.00K | -2.00K | ||||
| Other Unusual Items | 40.82M | 16.00K | ||||
| Pretax Income | -66.87M | -104.00M | -36.08M | -21.11M | -24.34M | -31.54M |
| Income Tax Expense | 297.00K | 367.00K | 65.00K | -110.00K | 107.00K | |
| Net Income | -67.17M | -104.37M | -36.15M | -21.00M | -24.44M | -31.54M |
| Net Income to Common | -67.17M | -104.37M | -36.15M | -21.00M | -24.44M | -31.54M |
| Shares Outstanding (Basic) | 556.56M | 545.44M | 537.85M | 530.27M | 529.78M | 521.46M |
| Shares Outstanding (Diluted) | 556.56M | 545.44M | 537.85M | 530.27M | 529.78M | 521.46M |
| EPS (Basic) | -0.12 | -0.19 | -0.07 | -0.04 | -0.05 | -0.06 |
| EPS (Diluted) | -0.12 | -0.19 | -0.07 | -0.04 | -0.05 | -0.06 |
| Free Cash Flow | -23.30M | -23.21M | -17.14M | -22.11M | -23.99M | -32.48M |
| Free Cash Flow Per Share | -0.04 | -0.04 | -0.03 | -0.04 | -0.04 | -0.06 |
| EBITDA | -27.14M | -23.22M | -18.65M | -25.95M | -24.50M | -31.09M |
| D&A For EBITDA | 3.00K | 2.00K | 3.00K | 13.00K | 109.00K | 137.00K |
| EBIT | -27.14M | -23.22M | -18.65M | -25.96M | -24.61M | -31.23M |
Balance sheet
Fiscal year January - December; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 52.96M | 54.73M | 16.14M | 18.20M | 14.17M | 22.29M |
| Cash & Short-Term Investments | 52.96M | 54.73M | 16.14M | 18.20M | 14.17M | 22.29M |
| Other Receivables | 112.00K | 119.00K | 152.00K | 675.00K | 130.00K | 164.00K |
| Receivables | 112.00K | 119.00K | 152.00K | 675.00K | 130.00K | 164.00K |
| Prepaid Expenses | 953.00K | 1.99M | 1.76M | 2.25M | 2.53M | 1.35M |
| Other Current Assets | 352.00K | |||||
| Total Current Assets | 54.03M | 56.84M | 18.05M | 21.12M | 16.84M | 24.16M |
| Property, Plant & Equipment | 65.24M | 63.17M | 118.13M | 121.85M | 127.53M | 134.34M |
| Other Long-Term Assets | 1.03M | 976.00K | 984.00K | 872.00K | 852.00K | 785.00K |
| Total Assets | 120.30M | 120.98M | 137.16M | 143.85M | 145.22M | 159.28M |
| Accounts Payable | 4.32M | 718.00K | 917.00K | 929.00K | 1.68M | 1.92M |
| Accrued Expenses | 2.46M | 1.56M | 267.00K | 287.00K | 237.00K | 376.00K |
| Current Portion of Long-Term Debt | 2.99M | 2.65M | 2.75M | 2.20M | ||
| Current Portion of Leases | 197.00K | 178.00K | 176.00K | 126.00K | 150.00K | 126.00K |
| Other Current Liabilities | 98.58M | 97.80M | 35.30M | 16.69M | ||
| Total Current Liabilities | 108.55M | 102.90M | 39.41M | 20.23M | 2.07M | 2.42M |
| Long-Term Leases | 277.00K | 358.00K | 548.00K | 338.00K | 463.00K | 561.00K |
| Other Long-Term Liabilities | 804.00K | |||||
| Total Liabilities | 108.83M | 103.26M | 39.96M | 20.56M | 2.53M | 3.79M |
| Common Stock | 750.32M | 740.75M | 702.75M | 702.95M | 700.28M | 700.28M |
| Retained Earnings | -852.35M | -837.24M | -732.87M | -696.96M | -675.96M | -651.52M |
| Comprehensive Income & Other | 113.49M | 114.22M | 127.31M | 117.29M | 118.37M | 106.73M |
| Shareholders' Equity | 11.47M | 17.73M | 97.20M | 123.28M | 142.69M | 155.49M |
| Total Liabilities & Equity | 120.30M | 120.98M | 137.16M | 143.85M | 145.22M | 159.28M |
| Total Debt | 3.47M | 3.18M | 3.47M | 2.66M | 613.00K | 687.00K |
| Net Cash (Debt) | 49.49M | 51.55M | 12.67M | 15.54M | 13.56M | 21.60M |
| Net Cash Per Share | 0.09 | 0.09 | 0.02 | 0.03 | 0.03 | 0.04 |
| Filing Date Shares Outstanding | 562.12M | 559.99M | 538.58M | 538.48M | 529.78M | 529.78M |
| Total Common Shares Outstanding | 562.12M | 558.46M | 537.79M | 538.48M | 529.78M | 529.78M |
| Working Capital | -54.52M | -46.06M | -21.36M | 899.00K | 14.77M | 21.73M |
| Book Value Per Share | 0.02 | 0.03 | 0.18 | 0.23 | 0.27 | 0.29 |
| Tangible Book Value | 11.47M | 17.73M | 97.20M | 123.28M | 142.69M | 155.49M |
| Tangible Book Value Per Share | 0.02 | 0.03 | 0.18 | 0.23 | 0.27 | 0.29 |
| Machinery | 1.61M | 1.61M | 1.60M | 1.60M | 1.60M | 1.59M |
Cash flow statement
Fiscal year January - December; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -67.17M | -104.37M | -36.15M | -21.00M | -24.44M | -31.54M |
| Depreciation & Amortization | 170.00K | 172.00K | 162.00K | 164.00K | 259.00K | 329.00K |
| Loss (Gain) From Sale of Assets | -1.00K | 2.00K | ||||
| Stock-Based Compensation | 1.88M | 1.45M | 27.00K | 1.07M | 2.30M | 2.86M |
| Other Operating Activities | 38.74M | 79.66M | 17.46M | -1.34M | -248.00K | -148.00K |
| Change in Accounts Receivable | 35.00K | -152.00K | 1.01M | -242.00K | -565.00K | -17.00K |
| Change in Accounts Payable | 3.01M | 144.00K | 345.00K | -799.00K | -1.12M | -3.48M |
| Change in Other Net Operating Assets | 34.00K | -113.00K | 4.00K | 35.00K | -141.00K | -474.00K |
| Operating Cash Flow | -23.30M | -23.21M | -17.14M | -22.11M | -23.96M | -32.48M |
| Capital Expenditures | -31.00K | |||||
| Sale of Property, Plant & Equipment | 1.00K | 1.00K | ||||
| Other Investing Activities | 34.13M | 50.54M | 14.59M | 2.95M | 15.70M | 164.00K |
| Investing Cash Flow | 34.13M | 50.54M | 14.59M | 2.95M | 15.67M | 164.00K |
| Short-Term Debt Issued | 20.10M | |||||
| Total Debt Issued | 20.10M | |||||
| Long-Term Debt Repaid | -174.00K | -146.00K | -153.00K | -129.00K | -200.00K | |
| Lease Payments | -169.00K | -174.00K | -146.00K | -153.00K | -129.00K | -200.00K |
| Net Debt Issued (Repaid) | -169.00K | -174.00K | -146.00K | 19.95M | -129.00K | -200.00K |
| Issuance of Common Stock | 15.94M | 12.26M | 23.00K | 3.42M | 12.82M | |
| Repurchase of Common Stock | -61.00K | -61.00K | ||||
| Other Financing Activities | -59.00K | -59.00K | -59.00K | -431.00K | ||
| Financing Cash Flow | 15.65M | 11.96M | -123.00K | 23.31M | -129.00K | 12.19M |
| Foreign Exchange Rate Adjustments | 1.32M | -710.00K | 616.00K | -121.00K | 297.00K | -49.00K |
| Net Cash Flow | 27.80M | 38.59M | -2.06M | 4.03M | -8.12M | -20.17M |
| Free Cash Flow | -23.30M | -23.21M | -17.14M | -22.11M | -23.99M | -32.48M |
| Free Cash Flow Per Share | -0.04 | -0.04 | -0.03 | -0.04 | -0.04 | -0.06 |
| Levered Free Cash Flow | 10.74M | 49.93M | 7.62M | 673.88K | -14.06M | -21.61M |
| Unlevered Free Cash Flow | 11.29M | 50.50M | 8.14M | 724.50K | -14.02M | -21.57M |
| Free Cash Flow After Leases | -23.47M | -23.38M | -17.29M | -22.26M | -24.12M | -32.67M |
| Change in Working Capital | 3.08M | -121.00K | 1.35M | -1.01M | -1.83M | -3.97M |
Ratios
Fiscal year January - December; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 451.22M | 1.09B | 310.21M | 175.33M | 117.43M | 171.63M |
| Enterprise Value | 415.75M | 1.06B | 297.22M | 174.67M | 99.80M | 150.04M |
| Last Close Price | 0.81 | 1.97 | 0.58 | 0.32 | 0.22 | 0.33 |
| PB Ratio | 55.88 | 84.15 | 4.59 | 1.88 | 1.11 | 1.40 |
| P/TBV Ratio | 55.88 | 84.15 | 4.59 | 1.88 | 1.11 | 1.40 |
| Debt / Equity Ratio | 0.30 | 0.18 | 0.04 | 0.02 | 0.00 | 0.00 |
| Net Debt / Equity Ratio | -4.32 | -2.91 | -0.13 | -0.13 | -0.10 | -0.14 |
| Net Debt / EBITDA Ratio | 1.82 | 2.22 | 0.68 | 0.60 | 0.55 | 0.69 |
| Net Debt / FCF Ratio | 2.12 | 2.22 | 0.74 | 0.70 | 0.56 | 0.67 |
| Quick Ratio | 0.49 | 0.53 | 0.41 | 0.93 | 6.91 | 9.26 |
| Current Ratio | 0.50 | 0.55 | 0.46 | 1.04 | 8.13 | 9.97 |
| Return on Equity (ROE) | -261.27% | -181.62% | -32.79% | -15.79% | -16.39% | -19.25% |
| Return on Assets (ROA) | -13.97% | -11.25% | -8.30% | -11.23% | -10.10% | -11.49% |
| Return on Capital Employed (ROCE) | -231.10% | -128.40% | -19.10% | -21.00% | -17.20% | -19.90% |
| Earnings Yield | -10.66% | -7.00% | -8.10% | -9.07% | -15.38% | -14.52% |
| FCF Yield | -3.69% | -1.56% | -3.84% | -9.55% | -15.09% | -14.95% |
| Buyback Yield / Dilution | -3.46% | -1.41% | -1.43% | -0.09% | -1.60% | -10.09% |