The firm maintains a conservative capital structure with a debt-to-equity ratio of 0.16%, though this is offset by the rapid consumption of its $72M cash buffer to fund project expansion.
| Metric | Jun'25 | Jun'24 | Jun'23 | Jun'22 |
|---|
| Total Current Assets | 163.06M | 217.69M | 314.56M | 207.94M |
| Cash & Short-Term Investments | 72.29M | 90.62M | 211.12M | 184.56M |
| Cash Only | 72.29M | 90.62M | 211.12M | 184.56M |
| Short-Term Investments | 0 | 0 | 0 | 0 |
| Accounts Receivable | 33.23M | 27.55M | 19.3M | 9.68M |
| Days Sales Outstanding | 54.3 | 50.06 | - | - |
| Inventory | 47.32M | 73.04M | 48.66M | 0 |
| Days Inventory Outstanding | 226.12 | 1.18K | -488.68 | - |
| Other Current Assets | 10.22M | 21.67M | 33.55M | 13.12M |
| Total Non-Current Assets | 489.65M | 734.82M | 695.02M | 453.22M |
| Property, Plant & Equipment | 477.7M | 734.08M | 682.07M | 453.04M |
| Fixed Asset Turnover | 0.47x | 0.27x | - | - |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 184.88K |
| Long-Term Investments | 1.01M | 740K | 12.94M | 0 |
| Other Non-Current Assets | 10.95M | 0 | 0 | 0 |
| Total Assets | 652.71M | 952.51M | 1.01B | 661.16M |
| Asset Turnover | 0.34x | 0.21x | - | - |
| Asset Growth % | -31.47% | -5.65% | 52.7% | - |
| Total Current Liabilities | 118.49M | 88.39M | 32.29M | 7.26M |
| Accounts Payable | 27.78M | 29.33M | 18.68M | 5.15M |
| Days Payables Outstanding | 132.74 | 474.05 | -187.6 | - |
| Short-Term Debt | 62.79M | 15.47M | 1.94M | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 6.09M | 12.05M | 846K | 323.79K |
| Current Ratio | 1.38x | 2.46x | 9.74x | 28.66x |
| Quick Ratio | 0.98x | 1.64x | 8.24x | 28.66x |
| Cash Conversion Cycle | 147.68 | 756.52 | - | - |
| Total Non-Current Liabilities | 58.78M | 68.49M | 92.46M | 83.11M |
| Long-Term Debt | 14.77M | 15.15M | 29.27M | 23.46M |
| Capital Lease Obligations | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 14.54M | 16.02M | 13.98M | 0 |
| Other Non-Current Liabilities | 29.47M | 25.31M | 35.25M | 59.65M |
| Total Liabilities | 177.27M | 156.88M | 124.75M | 90.37M |
| Total Debt | 77.55M | 30.62M | 31.21M | 23.47M |
| Net Debt | 5.26M | -60M | -179.91M | -161.09M |
| Debt / Equity | 0.16x | 0.04x | 0.04x | 0.04x |
| Debt / EBITDA | - | - | - | 0.28x |
| Net Debt / EBITDA | - | - | - | -1.90x |
| Interest Coverage | -42.82x | -29.62x | -18.99x | - |
| Total Equity | 475.45M | 795.63M | 884.82M | 570.8M |
| Equity Growth % | -40.24% | -10.08% | 55.02% | - |
| Book Value per Share | 44.11 | 116.12 | 152.64 | 119.21 |
| Total Shareholders' Equity | 420.22M | 665.04M | 756.16M | 511.28M |
| Common Stock | 833.72M | 795.77M | 770.7M | 504.25M |
| Retained Earnings | -412.73M | -118.74M | -27.32M | -7.36M |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | -769K | -11.99M | 12.77M | 14.39M |
| Minority Interest | 55.23M | 130.59M | 128.67M | 59.52M |
Operational execution and dilution
As reported in financial statements, ELVR's balance sheet trajectory reflects a transition from developer to producer, where the accumulation of mining assets is currently outpacing the generation of internal cash, necessitating frequent reliance on external capital markets to sustain the company's ongoing operational and exploration activities.
The shift toward production at the NAL site has fundamentally altered the company's risk profile, moving from geological uncertainty to operational execution risk. Investors should monitor whether the current asset base can achieve sufficient recovery rates to justify the ongoing capital expenditure required for the Moblan and Authier projects.
Based on reported figures, ELVR maintains a low debt-to-equity ratio of 0.16%, which suggests that the company has avoided significant debt-based financing, opting instead to rely on equity-linked capital to fund its infrastructure-heavy expansion within the Quebec lithium hub.
While the low leverage profile provides a buffer against interest rate volatility, it also highlights the company's reliance on equity dilution to fund its growth. This strategy may limit the company's ability to leverage its balance sheet for future downstream processing investments without further impacting shareholder value.
According to recent SEC filings, the company's $72M cash buffer is being rapidly consumed by the high fixed-cost structure of the NAL concentrator, leaving limited room for error as the firm navigates the volatile spodumene concentrate pricing environment and ongoing project development costs.
The current liquidity position appears strained given the capital-intensive nature of hard-rock mining and the lumpy revenue recognition associated with concentrate shipments. The company's ability to maintain operations without further capital raises remains a critical concern for investors evaluating the sustainability of the current business model.
As indicated by the company's financial disclosures, the restart of the aging NAL site may carry significant, potentially under-reported rehabilitation liabilities that could weigh on the balance sheet as the company progresses through its multi-year production and exploration cycle.
The reliance on a brownfield site provides a faster route to market but introduces long-term environmental and maintenance obligations that are not always fully captured in short-term operating expenses. These potential liabilities warrant further investigation to determine the true cost of maintaining the Quebec hub's infrastructure.
Quick answers to the most common questions about buying ELVR stock.
As of 2024, Elevra Lithium Limited (ELVR) had total assets of $652.7M including $163.1M in current assets.
Elevra Lithium Limited (ELVR) carries total debt of $77.6M, offset by $72.3M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Elevra Lithium Limited (ELVR) has total shareholders' equity (book value) of $420.2M ($44.11 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Elevra Lithium Limited (ELVR) reported a current ratio of 1.38x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.