Shareholders being diluted. Shares outstanding up 367% from June 2023 to September 2026.
NioCorp Developments had 367% more shares at September 2026 than at June 2023, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.NioCorp Developments had 367% more shares at September 2026 than at June 2023, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Not profitable yet. Reported a loss in the 12 months to June 2026.
NioCorp Developments reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.
Little borrowing.Debt is 0.00× equity vs a peer median of 0.4×.Debt is 0.00× equity vs peers 0.4×.
NioCorp Developments has among the least debt in its peer group relative to shareholders' equity.
Steadier share price. Beta 0.22: tends to move less than the market.
NioCorp Developments's shares have swung less with the market than most peers' (beta 0.22, below the market's 1.0).
Sector-normalized EBITDA, earnings, and free cash flow yields.
Earnings yield-11.2%
SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0364 · MAD: 0.0364
EBITDA yield-207.7%
Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsNegative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -1.64Sector median: 0.0854 · MAD: 0.0520
Free cash flow yield-8.3%
Yahoo Finance fallback · SEC cash flow or share count unavailable · trailing 12 months · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0261 · MAD: 0.0261
Yahoo Finance fallback · no standard SEC debt tagOutlier capped at sector 5th/95th percentile33% base weight · Z-score 1.21Sector median: 0.3578 · MAD: 0.2929
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about NioCorp Developments
Is NioCorp Developments getting weaker?
Its latest SEC filing (Sep 25, 2026) showed no major changes. Its overall score is unchanged at 36/100 since Oct 28, 2026.
How is NioCorp Developments valued vs its peers?
Priced higher than most peers relative to what it earns. Valuation scores 8/100 against 1,371 basic materials peers.Earnings yield -11.2% vs a peer median of 3.6% (weaker than 100% of peers).Earnings yield -11.2% vs peers 3.6% (weaker than 100% of peers).
Is NioCorp Developments growing?
Insufficient data: 1 of 3 inputs reported (at least 2 needed).
How profitable is NioCorp Developments?
Less profitable than most of its peers. Profitability scores 2/100 against 1,371 basic materials peers.Return on assets -10.4% vs a peer median of 2.5% (weaker than 100% of peers).Return on assets -10.4% vs peers 2.5% (weaker than 100% of peers).
How risky is NioCorp Developments?
Lower risk relative to 1,371 basic materials peers, judged on debt, liquidity and share-price swings.Current ratio 25.36× vs a peer median of 1.76× (stronger than 95% of peers).Current ratio 25.36× vs peers 1.76× (stronger than 95% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Sep 25, 2026 · compared with the quarter ended Mar 31, 2026
No major changes
Worth watching: NioCorp Developments is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.
Previous quarter
Latest quarter
Change
Net income (12 months)
−52.8M USD
−48.6M USD
−8.0%
Cash
419.2M USD
415.0M USD
−1.0%
Shares outstanding
145.6M
145.8M
+0.2%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Industry valuation context
Sector: Basic Materials · 121 companies
Valuations in Basic Materials are near the top of their range since 2016.
84% of months since 2016 were valued lower than now.
43% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +23% and earnings +13% (medians): prices and earnings moved broadly together.
Median price-to-sales is −9% vs the whole market, against a usual −27%.
2016Shaded: most expensive fifth of its range2026
Shown for Basic Materials: too few Other Industrial Metals & Mining companies have a long enough history of their own.
This is a cyclical group: after a downturn, trailing earnings and sales fall faster than prices, which can make valuations look high near a cycle's low.
Describes valuations since 2016; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, EBITDA, sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY Jun 2022
FY Jun 2023
FY Jun 2024
FY Jun 2025
FY Jun 2026
Change
Return on assets (ROA)
-47.8%
-192.6%
-59.3%
-39.7%
-10.4%
▲ 29 pts
Return on equity (ROE)
-61.6%
—
-1189.8%
-61.5%
-11.3%
▲ 50 pts
Current ratio
1.12×
1.05×
0.24×
14.12×
25.36×
▲ 80%
Debt to equity
—
—
7.09×
—
—
—
Interest coverage
—
—
—
-377.25×
—
—
NB price history
Price history is added with the daily price update and will appear after the next one.