One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Elevra Lithium Limited
ELVR · NCM · Basic Materials · Other Industrial Metals & Mining
Current price
$22.63
52-week range
$21.32 - $102.80
Market cap
$436.81M
Balance sheet
Healthy
0.17x Concerning
Net cash $177.19M. Interest coverage shows how many times profit covers the interest bill.
What stands out
2 Rewards
3 Risks
2 rewards · 3 risks
- Reward Revenue grew 39.1% last year.
- Reward Returns 8.6% on equity, ahead of 83% of its peers.
- Risk Forward P/E (323.3x) is higher than trailing (8.4x) - earnings are expected to drop.
- Risk Net debt grew 87.6% over 3 years.
What this company does
Elevra Lithium Limited
Elevra Lithium Limited finds and develops minerals, mainly focusing on a big lithium project in Canada. This means they are trying to dig up and sell lithium, a key ingredient for electric car batteries, which is where their future money will come from. Understanding how much it costs them to get this lithium out of the ground (their operating costs) compared to how much they sell it for (their margins) is important to see if they can make a profit.
How the company got here
Elevra Lithium Limited, formerly known as Sayona Mining Limited, was incorporated in 2000 and is headquartered in Brisbane, Australia. The company underwent a name change to Elevra Lithium Limited in August 2025, following a merger with Piedmont Lithium. This strategic move aimed to combine operational strengths and create a larger, dual-listed entity with a primary listing on the ASX and a secondary listing of American Depositary Shares on Nasdaq. Elevra Lithium is focused on developing and producing lithium, a critical mineral for the global energy transition, particularly for electric vehicles and energy storage solutions. The company's history is marked by its progression from mineral exploration to becoming a significant producer in North America.
What it actually does
Elevra Lithium Limited is a company that explores for, acquires, and develops mineral assets, with a primary focus on lithium. Lithium is a key component in the rechargeable batteries that power electric vehicles and store energy from renewable sources. Elevra's main activity involves mining and processing lithium ore to produce spodumene concentrate, a material used in the manufacturing of lithium-ion batteries. The company aims to be a reliable and secure supplier of this critical mineral, contributing to the global shift towards electrification and sustainable energy.
North American Lithium (NAL)
The North American Lithium (NAL) project in Quebec, Canada, is Elevra Lithium's flagship operation and is described as North America's largest producing lithium mine. This operation is 100%-owned by Elevra and is a significant source of high-grade spodumene concentrate, a crucial material for battery production. NAL benefits from access to renewable energy and established infrastructure, positioning it as a key player in North America's lithium supply chain. The project is undergoing an expansion to increase its production capacity and reduce operating costs, aiming to meet the growing demand from the electric vehicle and energy storage markets.
Other Projects
Beyond its flagship NAL operation, Elevra Lithium is developing a portfolio of other lithium projects. These include the Moblan Lithium Project in Quebec, Canada, which is a high-grade, large-scale deposit. In the United States, the company is developing the Carolina Lithium project in North Carolina, which is planned as a multi-phase, integrated operation including mining, processing, and a lithium hydroxide conversion plant. Additionally, Elevra has an interest in the Ewoyaa Lithium Project in Ghana, West Africa, which has the potential to become one of Ghana's first lithium-producing mines. These diverse projects showcase Elevra's strategy to build a globally diversified lithium asset base.
What management is betting on now
Elevra Lithium's management is focused on executing a staged growth strategy centered around expanding its lithium production capacity and strengthening its position in the North American market. A key priority is the expansion of the North American Lithium (NAL) operation, which is fully funded and aims to increase output and efficiency. The company is also investing in the development of its other projects, such as Moblan and Carolina Lithium, to build a robust pipeline of future production. Management's strategy emphasizes responsible resource development, aiming to deliver sustainable shareholder returns while contributing to the global energy transition by providing a secure and reliable supply of lithium.
Price history
How the share price has moved
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Is it cheap or expensive?
Fair value — vs current price $22.63
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $177.2M - more cash than debt. Interest coverage 0.2x.
Net debt
$-177.19M
Interest coverage
0.17x
Elevra Lithium Limited's profit covers its interest bill about 0.2 times over. which is stronger than every peer shown here and 4 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
ELVR
BASELINE
Elevra Lithium Limited
Total debt $78.09M Interest coverage 0.17x This is the baseline the peer rows are being compared against.
Total debt $276.97M Interest coverage -0.54x -100% vs ELVR This peer has almost no interest-payment cushion compared with ELVR.
Total debt $251.47M Interest coverage -1.35x -100% vs ELVR This peer has almost no interest-payment cushion compared with ELVR.
Total debt $6.49M Interest coverage -444.97x -100% vs ELVR This peer has almost no interest-payment cushion compared with ELVR.
Total debt $0.00 Interest coverage -43.56x -100% vs ELVR This peer has almost no interest-payment cushion compared with ELVR.
What you should know
The case for and against ELVR
2 Rewards
3 Risks
Rewards
-
Revenue grew 39.1% last year.
-
Returns 8.6% on equity, ahead of 83% of its peers.
Risks
-
Forward P/E (323.3x) is higher than trailing (8.4x) - earnings are expected to drop.
-
Net debt grew 87.6% over 3 years.
-
Insider ownership is only 0.0% (peer median: 15.7%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
8.44x
Forward P/E
323.29x
P/B
0.60x
P/S
2.16x
EV/EBITDA
2.27x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
113.5%
Operating margin
44.5%
Net margin
21.3%
ROE
8.6%
ROA
4.4%
Health
Liquidity and balance-sheet strength
Debt / equity
0.11x
Current ratio
3.44x
Quick ratio
2.75x
Total debt
$78.09M
Total cash
$255.28M
Growth
How the business has been compounding
Revenue TTM
$201.87M
Revenue 5Y CAGR
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EPS TTM
2.68
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-43.60M
Free CF TTM
$-67.63M
FCF margin
-33.5%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
0.0%
Last ex-div date
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