Northern Dynasty Minerals Ltd. (NAK) Key Metrics
NAK key metrics, 2016–2025
Fiscal year ended December 31, 2025 · Canadian dollarsNAK returns How much profit the business earns on the capital it uses.
NAK financial health Debt, liquidity and how easily interest is covered.
NAK efficiency & capital use Working capital cycle and where the cash goes.
NAK returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
NAK debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
NAK cash returned to shareholders
NAK key metrics in Canadian dollars
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −181.6% | −32.8% | −11.9% | −16.4% | −15.2% | −41.2% | −48.3% | −11.2% | −45.3% | −17.8% |
| Return on invested capital (ROIC) | — | −15.1% | −11.2% | −14.8% | −14.7% | −38.4% | −41.7% | −51.4% | −47.8% | −14.9% |
| Return on assets (ROA) | −80.9% | −25.7% | −11.0% | −16.1% | −14.7% | −38.2% | −43.7% | −8.8% | −36.8% | −17.5% |
| Return on tangible assets | −86.3% | −26.4% | −11.0% | −16.8% | −15.7% | −35.5% | −44.7% | −9.9% | −32.0% | −17.9% |
| Financial health | ||||||||||
| Total debt | C$3.2M | C$3.5M | C$2.7M | C$613,000 | C$687,000 | C$916,000 | C$2.6M | C$0 | C$0 | C$0 |
| Cash & short-term investments | C$54.7M | C$16.1M | C$18.2M | C$14.2M | C$22.3M | C$42.5M | C$14.0M | C$14.9M | C$67.2M | C$7.2M |
| Net debt | −C$51.6M | −C$12.7M | −C$15.5M | −C$13.6M | −C$21.6M | −C$41.5M | −C$11.5M | −C$14.9M | −C$67.2M | −C$7.2M |
| Debt / equity | 0.18 | 0.04 | 0.02 | 0.00 | 0.00 | 0.01 | 0.02 | 0.00 | 0.00 | 0.00 |
| Debt / assets | 0.03 | 0.03 | 0.02 | 0.00 | 0.00 | 0.01 | 0.02 | 0.00 | 0.00 | 0.00 |
| Current ratio | 0.55 | 0.46 | 1.04 | 8.13 | 9.97 | 5.93 | 0.98 | 2.49 | 6.02 | 5.25 |
| Quick ratio | 0.55 | 0.46 | 1.08 | 8.13 | 9.82 | 5.93 | 0.98 | 2.49 | 6.02 | 5.25 |
| Interest coverage | -25.7 | -22.3 | -208.2 | -367.3 | -368.5 | -682.6 | -513.2 | — | — | — |
| Working capital | −C$46.1M | −C$21.4M | C$899,000 | C$14.8M | C$21.7M | C$36.5M | −C$233,000 | C$9.7M | C$56.8M | C$6.4M |
| Invested capital | −C$33.8M | C$84.5M | C$107.7M | C$129.1M | C$133.9M | C$130.8M | C$127.0M | C$133.3M | C$70.3M | C$141.7M |
| Tangible asset value | C$17.7M | C$97.2M | C$123.3M | C$142.7M | C$155.5M | C$172.3M | C$138.5M | C$148.2M | C$137.5M | C$148.8M |
| Net current asset value | −C$46.4M | −C$21.9M | C$561,000 | C$14.3M | C$20.4M | C$35.9M | −C$1.2M | C$2.5M | C$3.0M | C$6.4M |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | C$9 | C$0 | C$0 | C$0 |
| Share buybacks (net) | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$9 | C$7 | C$1.1M | C$0 |
| Capex / depreciation | 0.00 | 0.00 | 0.00 | 0.12 | 0.00 | 0.00 | 0.00 | 0.09 | 2.69 | 0.12 |
| Efficiency | ||||||||||
| Days of inventory on hand | — | — | -1,991.1 | — | 494.0 | — | — | — | — | — |
| Days payables outstanding | 2,762.8 | 3,208.5 | 3,852.4 | 6,326.1 | 5,771.6 | 6,390.2 | 4,992.9 | 12,141.7 | 11,953.8 | 2,540.8 |
| Receivables turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Payables turnover | 0.13 | 0.11 | 0.09 | 0.06 | 0.06 | 0.06 | 0.07 | 0.03 | 0.03 | 0.14 |
| Inventory turnover | — | — | — | — | 0.74 | — | — | — | — | — |
| Asset turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Average receivables | C$135,500 | C$413,500 | C$402,500 | C$147,000 | C$409,000 | C$535,000 | C$627,000 | C$710,500 | C$385,500 | C$351,000 |
| Average payables | C$817,500 | C$923,000 | C$1.3M | C$1.8M | C$4.1M | C$9.4M | C$8.9M | C$7.8M | C$5.8M | C$1.4M |
| Average inventory | — | — | −C$675,000 | — | C$352,000 | — | C$0 | C$0 | C$0 | C$0 |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from NAK's annual financial statements (latest annual report filed March 31, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Canadian dollars; data from EODHD. Averages use the opening and closing balance of each year.
NAK valuation and financial ratios
Northern Dynasty Minerals earned a return on equity of −181.6% in fiscal 2025. It ended the year with C$3.2 million of debt and C$54.7 million in cash and short-term investments, a net cash position of C$51.6 million.
See the NAK income statement, the NAK chart for price history, or the NAK stock overview for the latest quote and news.
NAK key metrics FAQ
What is Northern Dynasty Minerals's return on equity?
Northern Dynasty Minerals's return on equity (ROE) was −181.6% in fiscal 2025: net income of -C$104.4 million on average shareholders' equity of C$57.5 million.
How much debt does Northern Dynasty Minerals have?
Northern Dynasty Minerals had total debt of C$3.2 million at the end of fiscal 2025, a debt-to-equity ratio of 0.18 and more cash than debt.
What is Northern Dynasty Minerals's current ratio?
Northern Dynasty Minerals's current ratio was 0.55 at the end of fiscal 2025: current assets were 0.55 times current liabilities.