Latest Ratios: P/E Ratio -3.6x · EV/EBITDA N/A · ROE -46.3%. (2021–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Market Cap | $1.1B | — | — | — | — |
| Enterprise Value | $1.1B | — | — | — | — |
| P/E Ratio → | -3.55 | — | — | — | — |
| P/S Ratio | 7.36 | — | — | — | — |
| P/B Ratio | 2.20 | — | — | — | — |
| P/FCF | — | — | — | — | — |
| P/OCF | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — |
| EV / FCF | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Gross Margin | 65.8% | 65.8% | 88.8% | — | — |
| Operating Margin | -85.8% | -85.8% | -48.9% | — | — |
| Net Profit Margin | -131.8% | -131.8% | -50.5% | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| ROE | -46.3% | -46.3% | -12.1% | -1.9% | 10.3% |
| ROA | -36.7% | -36.7% | -10.3% | -1.6% | 8.9% |
| ROIC | -23.6% | -23.6% | -10.2% | -3.5% | — |
| ROCE | -27.4% | -27.4% | -10.7% | -3.2% | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Debt / Equity | 0.16 | 0.16 | 0.04 | 0.04 | 0.04 |
| Debt / EBITDA | — | — | — | — | 0.28 |
| Net Debt / Equity | — | 0.01 | -0.08 | -0.20 | -0.28 |
| Net Debt / EBITDA | — | — | — | — | -1.90 |
| Debt / FCF | — | — | — | — | — |
| Interest Coverage | -42.82 | -42.82 | -29.62 | -18.99 | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Current Ratio | 1.38 | 1.38 | 2.46 | 9.74 | 28.66 |
| Quick Ratio | 0.98 | 0.98 | 1.64 | 8.24 | 28.66 |
| Cash Ratio | 0.61 | 0.61 | 1.03 | 6.54 | 25.44 |
| Asset Turnover | — | 0.34 | 0.21 | — | — |
| Inventory Turnover | 1.61 | 1.61 | 0.31 | -0.75 | — |
| Days Sales Outstanding | — | 54.30 | 50.06 | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — |
| FCF Yield | — | — | — | — | — |
| Buyback Yield | 0.1% | — | — | — | — |
| Total Shareholder Yield | 0.1% | — | — | — | — |
| Shares Outstanding | — | $11M | $7M | $6M | $5M |
Operational execution and dilution
Based on reported figures, ELVR trades at a P/S ratio of 7.29, which appears elevated relative to the broader mining sector and suggests that investors are pricing in significant future growth potential rather than current, deeply negative earnings performance or immediate cash flow generation capabilities.
The lack of a positive P/E ratio makes traditional valuation metrics difficult to apply, forcing a reliance on sales-based multiples that may overstate the company's current value. This valuation appears to hinge entirely on the successful integration of the Moblan and Authier projects into the existing NAL hub, rather than the current spodumene concentrate output.
According to recent SEC filings, ELVR maintains a 65.8% gross margin, yet this figure is severely undermined by a -85.8% operating margin, indicating that corporate overhead and ramp-up costs are currently overwhelming the income generated from spodumene concentrate sales at the mine gate.
The disparity between gross and operating margins suggests that the company is struggling with the high fixed-cost burden of the NAL concentrator. Investors should monitor whether these operating losses are a temporary byproduct of the transition to production or a more systemic issue regarding the cost of mining lower-grade satellite deposits.
As reported in financial statements, ELVR maintains a minimal debt-to-equity ratio of 0.16%, reflecting a strategic preference for equity-linked capital to fund its infrastructure-heavy expansion within the Quebec lithium hub rather than relying on traditional debt instruments that would require immediate interest coverage.
While this low leverage profile reduces immediate insolvency risk, it highlights a persistent reliance on shareholder dilution to fund ongoing operations and exploration. This capital structure appears to be a defensive measure against the volatility of the lithium market, though it limits the company's ability to leverage its balance sheet for non-dilutive growth.
Based on the company's reported figures, the $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 vulnerable, as the company lacks the internal cash flow generation to sustain its current capital expenditure profile. Without a significant improvement in spodumene recovery rates or a rebound in global lithium prices, the company may face further liquidity constraints that necessitate additional external financing.
As indicated by the company's financial disclosures, the P/S ratio is frequently misapplied to ELVR, as it fails to account for the 75/25 joint venture structure at the NAL project, which significantly obscures the actual revenue attributable to the company versus its partner.
Using a simple P/S multiple ignores the lumpy nature of spodumene shipments and the potential for offtake agreements to cap upside potential. Analysts should instead focus on EV/LCE production capacity or adjusted EBITDA metrics to better capture the underlying economic value of the Quebec hub.
Includes 30+ ratios · 4 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying ELVR stock.
Elevra Lithium Limited's current P/E ratio is -3.6x. This places it at the 50th percentile of its historical range.
Elevra Lithium Limited's return on equity (ROE) is -46.3%. The historical average is -12.5%.
Based on historical data, Elevra Lithium Limited is trading at a P/E of -3.6x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Elevra Lithium Limited has 65.8% gross margin and -85.8% operating margin.