Novonix Limited ADR [NVX] vs Freyr Battery [FREY] Detailed Stock Comparison

Novonix Limited ADR

NASDAQ
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Freyr Battery Inc.

NYSE
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TLDR: Quick Comparison Summary

Based on 18 vital metrics comparison: Novonix Limited ADR wins in 6 metrics, Freyr Battery Inc. wins in 9 metrics, with 0 ties. Freyr Battery Inc. appears stronger overall.

View Metrics Details

Vital Metrics Comparison

Metric Novonix Limited ADR Freyr Battery Inc. Better
P/E Ratio (TTM) -1.33 N/A N/A
Price-to-Book Ratio 1.03 0.40 Freyr Battery Inc.
Debt-to-Equity Ratio 62.06 3.74 Freyr Battery Inc.
PEG Ratio -3.43 -2.25 Freyr Battery Inc.
EV/EBITDA -14.16 -0.22 Freyr Battery Inc.
Profit Margin (TTM) 55.49% 41.74% Novonix Limited ADR
Operating Margin (TTM) -920.61% -2,524.24% Novonix Limited ADR
Return on Equity -61.97% -18.45% Freyr Battery Inc.
Return on Assets (TTM) -12.82% -11.55% Freyr Battery Inc.
Free Cash Flow (TTM) $-102.38M $-153.65M Novonix Limited ADR
1-Year Return -37.17% -26.11% Freyr Battery Inc.
Price-to-Sales Ratio (TTM) 30.58 82.20 Novonix Limited ADR
Enterprise Value $684.05M $25.19M Novonix Limited ADR
EV/Revenue Ratio 121.78 8.56 Freyr Battery Inc.
Revenue per Share (TTM) $0 N/A N/A
Earnings per Share (Diluted) $-0.56 $-0.11 Freyr Battery Inc.
Beta (Stock Volatility) 0.99 1.03 Novonix Limited ADR
Short % of Float 1.91% N/A N/A

Novonix Limited ADR vs Freyr Battery Inc. Stock Performance Analysis

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NVX
FREY

Performance Comparison

Short-term Returns

Stock1D1W1M3M6MYTD
Novonix Limited ADR-2.16%-4.23%-5.56%-20.93%-39.29%-37.61%
Freyr Battery Inc.3.91%5.56%27.88%27.88%27.88%27.88%

Long-term Returns

Stock1Y3Y5Y10Y15Y20Y
Novonix Limited ADR-37.17%-73.00%-96.29%-96.29%-96.29%-96.29%
Freyr Battery Inc.-26.11%-84.48%-84.89%-86.46%-86.46%-86.46%

Performance & Financial Health Analysis: Novonix Limited ADR vs Freyr Battery Inc.

MetricNVXFREY
Market Information
Market Cap i$161.13M$241.82M
Market Cap CategoryMicro capMicro cap
10 Day Avg. Volume i248,884937,274
90 Day Avg. Volume i352,7051,348,228
Last Close$0.68$1.33
52 Week Range$0.59 - $3.86$0.91 - $3.36
% from 52W High-82.38%-60.42%
All-Time High$24.00 (Jan 31, 2022)$16.94 (Oct 03, 2022)
% from All-Time High-97.17%-92.15%
Growth Metrics
Quarterly Revenue Growth-0.10%N/A
Quarterly Earnings GrowthN/AN/A
Financial Health
Profit Margin (TTM) i0.55%0.42%
Operating Margin (TTM) i-9.21%-25.24%
Return on Equity (TTM) i-0.62%-0.18%
Debt to Equity (MRQ) i62.063.74
Cash & Liquidity
Book Value per Share (MRQ)$0.77$3.83
Cash per Share (MRQ)$0.10$1.32
Operating Cash Flow (TTM) i$-42,199,800$-106,526,000
Levered Free Cash Flow (TTM) i$-84,516,512$-102,427,248
Dividends
Last 12-Month Dividend Yield iN/AN/A
Last 12-Month Dividend iN/AN/A

Valuation & Enterprise Metrics Analysis: Novonix Limited ADR vs Freyr Battery Inc.

MetricNVX (Apr 24, 2026)FREY (May 17, 2025)
Price Ratios
P/E Ratio (TTM) i-1.33N/A
Forward P/E i-3.43-2.25
PEG Ratio i-3.43-2.25
Price to Sales (TTM) i30.5882.20
Price to Book (MRQ) i1.030.40
Market Capitalization
Market Capitalization i$161.13M$241.82M
Enterprise Value i$684.05M$25.19M
Enterprise Value Metrics
Enterprise to Revenue i121.788.56
Enterprise to EBITDA i-14.16-0.22
Risk & Other Metrics
Beta i0.991.03
Book Value per Share (MRQ) i$0.77$3.83

Financial Statements Comparison: Novonix Limited ADR vs Freyr Battery Inc.

Financial Metrics

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Revenue

Operating Margin

Profit Margin

Long Term Debt

Income Flow Analysis

Financial Statements Comparison

Income Statement

MetricNVX (2025)FREY (2024)
Revenue/Sales i5.62M2.94M
Cost of Goods Sold i2.50M1.71M
COGS % of Revenue i44.5%58.3%
Gross Profit i3.12M1.23M
Gross Margin i55.5%41.7%
Research & Development i5.67MN/A
Operating Income (EBIT) i-48.49M-74.26M
Operating Margin i-863.2%-2,524.2%
EBITDA i-42.88M-48.18M
EBITDA Margin i-763.5%-1,637.5%
Pre-Tax Income i-92.70M-80.40M
Pre-Tax Income % of Revenue i-1,650.3%-2,732.8%
Income Tax i25,542-15.76M
Income Tax % of Revenue i0.5%-535.7%
Net Income (Profit) i-92.73M-450.55M
Profit Margin i-1,650.8%-15,314.5%

Balance Sheet & Liquidity Metrics

MetricNVX (2025)FREY (2024)
Cash & Equivalents i79.87M72.64M
Total Current Assets i89.16M583.17M
Total Current Assets % of Revenue i1,587.3%19,822.2%
Total Current Liabilities i83.56M414.02M
Total Current Liabilities % of Revenue i1,487.6%14,072.9%
Long-Term Debt i37.69M609.70M
Long-Term Debt % of Revenue i671.0%20,723.9%
Total Shareholders Equity i161.67M188.76M
Retained Earnings i-352.40M-725.24M
Retained Earnings % of Revenue i-6,273.6%-24,651.2%
Property, Plant & Equipment iN/A111.08M

Cash Flow Statement Comparison

MetricNVX (2025)FREY (2024)
Operating Cash Flow i-76.52M-432.96M
Operating Cash Flow % of Revenue i-1,362.2%-14,716.3%
Capital Expenditures i-60.18M-28.10M
Free Cash Flow i-102.38M-153.65M
FCF Margin i-1,822.7%-5,222.5%
Debt Repayment i-1.80MN/A
Common Stock Repurchase iN/AN/A

Short Interest & Institutional Ownership Analysis

MetricNVXFREY
Shares Short i4.08MN/A
Short Ratio i8.92N/A
Short % of Float i1.91%N/A
Shares Outstanding i840.07M155.93M
Float Shares i696.00M80.29M
% Held by Insiders i0.00%29.38%
% Held by Institutions i2.22%40.56%
% Held by Public i97.78%30.06%

Dividend Analysis & Yield Comparison: Novonix Limited ADR vs Freyr Battery Inc.

MetricNVXFREY
Last 12-Month Dividend iN/AN/A
Last 12-Month Dividend Yield iN/AN/A
3-Year Avg Annual Dividend iN/AN/A
3-Year Avg Dividend Yield iN/AN/A
3-Year Total Dividends iN/AN/A
Ex-Dividend DateN/AN/A