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NEO Battery Materials Ltd (NBM) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of NEO Battery Materials Ltd stock C$0.08, price C$0.13, that is 34.7% below the price, quality 27 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Basic Materials CA · ISIN CA62908A1003

NB NEO Battery Materials Ltd logo Thin data Nov 11, 2026

NEO Battery Materials Ltd

NBM · V
Expensive, weak quality

Our calculation puts a fair price 35% below what the stock costs today.

Fair value C$0.0849 · Overvalued
Quality 27/100
Weak Growth
Negative free cash flow
Trails peers (0/7)
Narrow moat 0/100
Thin data
⟳ CyclicalEstimate
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

C$1.03 C$0.0700 Fair Value C$0.0849 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 11, 2026.

How to read this chart

60‑month range C$0.0700 – C$1.03 · fair‑value band C$0.0637 – C$0.1061 · the C$0.1300 price screens above the C$0.0849 fair value. As of Nov 11, 2026.

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Company profile

NEO Battery Materials Ltd. focuses on the development of silicon-enhanced lithium-ion batteries used in drones, robotics, physical artificial intelligence, and electric vehicles in Canada and South Korea.

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The company was formerly known as Pan Andean Minerals Ltd. and changed its name to NEO Battery Materials Ltd. in March 2021. NEO Battery Materials Ltd. was incorporated in 2006 and is headquartered in Toronto, Canada.

Stock analysis

NEO Battery Materials Ltd (NBM) currently trades at C$0.1300, while our estimate is C$0.0849, 35% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: C$0.0637 (bear) to C$0.1061 (bull), the price of C$0.1300 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 27/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue growth is weak, negative or inconsistent.

NEO Battery Materials Ltd reported revenue of C$268K in FY2026 versus C$0 in FY2022. Reported net income was −C$10.0M in FY2026.

Key figures

Market cap C$22.7M (≈ $16.0M) Micro · P/S ratio 34.9 · EPS (TTM) C$−0.0900 · Return on equity −245% · Return on assets (EBIT) −132% (5-year average) · Operating margin −1,376% · Revenue (TTM) C$650K · Free cash flow −C$11.4M.

What moves the price

The share trades about 83% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −10% fair-value upside, at −35%, NBM screens richer than that median.

Fair Value

Bear C$0.0637 Fair Value C$0.0849 Bull C$0.1061
Price C$0.1300 · Downside -34.7%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 27/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 79
Are margins and returns getting better?
Cashflow 5
Do the profits arrive as real cash?
Financial strength 75
Debt, balance sheet and risk of trouble
Investment 0
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Price momentum 5
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 1
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 0/100
Revenue growth is weak, negative or inconsistent.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

NBM screens overvalued: fair value 35% below the price. Compare with BHP Group →

Compare NEO Battery Materials Ltd with another stock

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Other Industrial Metals & Mining · 577 stocks

Beats the industry median on 0/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 27 · Bottom 25%
Fair Value upside −34.7% · Below median
Profitability
Return on assets −65.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 0.0% · Below median

Valuation Multiplesvs Other Industrial Metals & Mining median · lower = cheaper

P/B 2.10× · Pricier than median
P/S (12 months) 34.87× · Priciest 25%

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Vedanta Limited VEDL ₹262.00 ₹334.17 +28% vs NBM
Saudi Arabian Mining Company 1211 57.00 SAR 64.24 SAR +13% vs NBM
Western Mining Co 601168 ¥28.25 ¥30.98 +10% vs NBM
Hindustan Zinc Limited HINDZINC ₹575.95 ₹624.91 +9% vs NBM
Boliden AB BOL kr 515.20 kr 464.45 −10% vs NBM
BHP Group BHP A$60.39 A$47.47 −21% vs NBM
Zhejiang Huayou Cobalt Co 603799 ¥32.69 ¥25.57 −22% vs NBM
Korea Zinc Company 010130 967,000 KRW 649,125 KRW −33% vs NBM
CMOC Group 603993 ¥13.71 ¥6.82 −50% vs NBM
China Tungsten And Hightech Materials Co 000657 ¥40.90 ¥4.44 −89% vs NBM

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NEO Battery Materials Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "NEO Battery Materials Ltd Fair Value". https://www.fairvalue-calculator.com/stock/NBM

Frequently asked questions

Is NEO Battery Materials Ltd (NBM) overvalued or undervalued?
As of Nov 11, 2026, our estimate of fair value is C$0.0849 versus a price of C$0.1300, about 35% lower (overvalued).
What is the fair value of NBM?
Our estimate for NEO Battery Materials Ltd is C$0.0849 (as of Nov 11, 2026), built from audited fundamentals. The current price: C$0.1300.
What is the quality score of NBM?
NEO Battery Materials Ltd has a Quality Score of 27/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for NEO Battery Materials Ltd (NBM)?
Our calculated price target is the estimate of C$0.0849 (as of Nov 11, 2026). Cautious scenario C$0.0637, optimistic scenario C$0.1061. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the NEO Battery Materials Ltd stock forecast for 2026?
Our estimate puts fair value at C$0.0849, about 35% lower versus a price of C$0.1300 (overvalued). Cautious scenario C$0.0637, optimistic scenario C$0.1061. The calculation is refreshed regularly with new filings.
What is the revenue of NEO Battery Materials Ltd (NBM)?
NEO Battery Materials Ltd reported trailing-twelve-month revenue of about C$650K (latest available figure, as of Nov 11, 2026).
What is the intrinsic value of NEO Battery Materials Ltd (NBM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For NEO Battery Materials Ltd it is C$0.0849 per share (as of Nov 11, 2026), against a price of C$0.1300.
Is NEO Battery Materials Ltd stock overvalued or undervalued in 2026?
As of Nov 11, 2026, NBM trades above its calculated fair value: price C$0.1300, fair value C$0.0849, a gap of about −35% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of NBM?
No. The price is what the market pays today (C$0.1300); the fair value is what the company's own numbers justify (C$0.0849). For NEO Battery Materials Ltd the two are C$0.0451 per share apart. That gap is exactly why we show both numbers side by side.
How much is NEO Battery Materials Ltd worth?
The market values NEO Battery Materials Ltd at about C$22.7M (market capitalisation, as of Nov 11, 2026). Per share that is C$0.1300; our models calculate a fair value of C$0.0849 per share.
What do the bullish and bearish scenarios say about NBM?
Our models span a range for NEO Battery Materials Ltd: cautious scenario C$0.0637, base C$0.0849, optimistic C$0.1061 per share (as of Nov 11, 2026, price C$0.1300). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of NEO Battery Materials Ltd (NBM)?
Balance-sheet figures for NEO Battery Materials Ltd (as of Nov 11, 2026): return on equity −245.2%. They feed the Quality Score of 27/100, which measures business quality independently of the share price.
How far is NBM from its 52-week high?
NEO Battery Materials Ltd trades at C$0.1300, about 83% below its 52-week high of C$0.7800 and 8% above the low of C$0.1200 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of C$0.0849 is for.
Which stocks are comparable to NEO Battery Materials Ltd?
From the same area (Basic Materials) we also value BHP Group, Saudi Arabian Mining Company, CMOC Group, Hindustan Zinc Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is NEO Battery Materials Ltd stock attractive at the current price?
The data as of Nov 11, 2026: price C$0.1300, calculated fair value C$0.0849 (−35%), Quality Score 27/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. NEO Battery Materials Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of NEO Battery Materials Ltd (NBM)?
The closing price on Nov 10, 2026 was C$0.1300. Our estimate is C$0.0849, about 35% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with NEO Battery Materials Ltd right now?
The price sits above even our optimistic bull case (C$0.1061). The favourable scenario is already priced in. Weak quality (27/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of NEO Battery Materials Ltd

How large is the market capitalisation of NEO Battery Materials Ltd (NBM)?
The market capitalisation of NEO Battery Materials Ltd is C$22.7M (≈ $16.0M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of NEO Battery Materials Ltd (NBM)?
The price-to-sales ratio of NEO Battery Materials Ltd is 34.9 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of NEO Battery Materials Ltd (NBM)?
Earnings per share at NEO Battery Materials Ltd are C$−0.0900. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of NEO Battery Materials Ltd (NBM)?
The return on equity (ROE) of NEO Battery Materials Ltd is −245% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of NEO Battery Materials Ltd (NBM)?
On an EBIT basis the return on assets of NEO Battery Materials Ltd is −132% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of NEO Battery Materials Ltd (NBM)?
The operating margin of NEO Battery Materials Ltd is −1,376% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How much free cash flow does NEO Battery Materials Ltd (NBM) generate?
The free cash flow of NEO Battery Materials Ltd is −C$11.4M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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