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Northern Graphite Corporation (NGC) fair value: what the stock is really worth

We calculate from audited financials what Northern Graphite Corporation is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

Valuation from Jun 23, 2026. With the latest figures (losses, negative cash flow), a fair value can no longer be calculated.
  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Basic Materials · CA · ISIN CA66516A1057

NG Thin data Jun 23, 2026

Northern Graphite Corporation

NGC · V

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value C$0.1955 · Strongly undervalued (+144%)
!Quality 20/100
!Mixed Growth (revenue 3y +27.7 %/yr)
!Loss-making · -170.6% net margin (TTM)
!Negative equity (buybacks among others) · negative free cash flow
!Trails peers (2/7)
!Narrow moat 8/100
!Evidence only low, so the estimate is less certain
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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

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

C$0.8800 C$0.0550 Fair Value C$0.1955 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jun 23, 2026.

How to read this chart

60‑month range C$0.0550 – C$0.8800 · fair‑value band C$0.1445 – C$0.2380 · the C$0.0800 price screens below the C$0.1955 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jun 23, 2026.

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Company profile

Northern Graphite Corporation, together with its subsidiaries, engages in the acquisition, exploration, development, and production of graphite and other mineral properties in Canada and Namibia. The company offers natural flake graphite; and Porocarb, a porous hard carbon material.

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Northern Graphite Corporation, together with its subsidiaries, engages in the acquisition, exploration, development, and production of graphite and other mineral properties in Canada and Namibia. The company offers natural flake graphite; and Porocarb, a porous hard carbon material. It also provides lab services to third parties; and engages in battery materials business. The company operates The Lac des Iles Mine, The Okanjande Mine, and The Bissett Creek Project mines. The company was formerly known as Industrial Minerals Canada Inc. and changed its name to Northern Graphite Corporation in March 2010. Northern Graphite Corporation was incorporated in 2002 and is headquartered in Ottawa, Canada.

Stock analysis

Northern Graphite Corporation (NGC) currently trades at C$0.0800, while our model-based Fair Value estimate is C$0.1955, implying the stock looks roughly 59.1% undervalued today.

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Valuation

How firm this estimate is: it rests on 3 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: C$0.1445 (bear) to C$0.2380 (bull), the price of C$0.0800 sits below 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 20/100 (below-average quality), in the Basic Materials sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Northern Graphite Corporation reported revenue of C$25.0M in FY2025 versus C$3.7M in FY2021, a compound +61.3%/yr. Reported net income was −C$21.3M in FY2025.

Key figures

Market cap C$23.2M (≈ $16.4M) · P/S ratio 1.53 · EPS (TTM) C$−0.1800 · Net margin −85.3% · Return on equity −331% · Return on assets (EBIT) −14.3% · Operating margin −107% · Revenue (TTM) C$15.2M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).

What moves the price

The share trades about 77% below its 52-week high and at 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 144%, NGC screens cheaper than that median.

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Quality Score breakdown

Overall quality 20/100

Of which business quality 20 · Market factors (momentum, volatility) 17

Profitability 5
Margins and returns on capital today
Quality Growth 54
Are margins and returns improving?
Cashflow 13
Earnings quality: real cash, not paper profit
Fin. Strength 4
Balance sheet, leverage, solvency risk
Investment 75
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 4
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 0
Share count: buybacks or dilution?

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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. 29/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+3.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+27.7%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−99.1% (2021) → −47.8% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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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 · 457 stocks

Beats the industry median on 2/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 20 · Bottom 25%
Fair Value upside +144% · Top 25%
Profitability
Return on equity (TTM) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −14% · Bottom 25%
Net margin (TTM) −171% · Bottom 25%
Operating margin (TTM) −107% · Bottom 25%
Growth and dividend
Revenue growth −66% · Bottom 25%
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

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

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (TTM) 1.08× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 0
FUTURE (revenue growth)0 · sector 36
PAST (return on equity)0 · sector 0
HEALTH (low debt)0 · sector 96
DIVIDEND (yield)0 · sector 30

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

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.

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Vale S.A XVALO €12.26 €8.03 −35%
Saudi Arabian Mining Company 1211 62.70 SAR 68.97 SAR +10%
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China Tungsten And Hightech Materials Co 000657 ¥60.26 ¥31.23 −48%
Hindustan Zinc Limited HINDZINC ₹595.45 ₹655.00 +10%
Korea Zinc Company 010130 1,116,000 KRW 646,063 KRW −42%
Western Mining Co 601168 ¥36.77 ¥40.45 +10%
Xiamen Tungsten Co 600549 ¥49.34 ¥24.75 −50%
PLS Group PLS A$4.18 A$6.65 +59%
Jinduicheng Molybdenum Co 601958 ¥20.99 ¥12.24 −42%

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Northern Graphite Corporation · Fair Value
C$0.1955 +59%Fair Value
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Cite: Fair Value Calculator (2026). "Northern Graphite Corporation Fair Value". https://www.fairvalue-calculator.com/stock/NGC

Frequently asked questions

Is Northern Graphite Corporation (NGC) overvalued or undervalued?
As of Jun 23, 2026, our model estimates a fair value of C$0.1955 versus a price of C$0.0800, about +144% upside (undervalued).
What is the fair value of NGC?
Our model-based fair value for Northern Graphite Corporation is C$0.1955 (as of Jun 23, 2026), built from audited fundamentals. The current price: C$0.0800.
What is the quality score of NGC?
Northern Graphite Corporation has a Quality Score of 20/100. 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 Northern Graphite Corporation (NGC)?
Our model-based price target is the fair value of C$0.1955 (as of Jun 23, 2026) from 3 valuation models. Cautious scenario C$0.1445, optimistic scenario C$0.2380. It is a calculation from audited fundamentals, not an analyst target.
What is the Northern Graphite Corporation stock forecast for 2026?
Our models put fair value at C$0.1955, about +144% upside versus a price of C$0.0800 (undervalued). Cautious scenario C$0.1445, optimistic scenario C$0.2380. The calculation is refreshed regularly with new filings.
What is the revenue of Northern Graphite Corporation (NGC)?
Northern Graphite Corporation reported trailing-twelve-month revenue of about C$15.2M (latest available figure, as of Jun 23, 2026).
What is the intrinsic value of Northern Graphite Corporation (NGC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Northern Graphite Corporation it is C$0.1955 per share (as of Jun 23, 2026), against a price of C$0.0800. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Northern Graphite Corporation stock overvalued or undervalued in 2026?
As of Jun 23, 2026, NGC trades below its calculated fair value: price C$0.0800, fair value C$0.1955, a gap of about +144% (undervalued). 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 NGC?
No. The price is what the market pays today (C$0.0800); the fair value is what the company's own numbers justify (C$0.1955). For Northern Graphite Corporation the two are C$0.1155 per share apart. That gap is exactly why we show both numbers side by side.
How much is Northern Graphite Corporation worth?
The market values Northern Graphite Corporation at about C$23.2M (market capitalisation, as of Jun 23, 2026). Per share that is C$0.0800; our models calculate a fair value of C$0.1955 per share.
What do the bullish and bearish scenarios say about NGC?
Our models span a range for Northern Graphite Corporation: cautious scenario C$0.1445, base C$0.1955, optimistic C$0.2380 per share (as of Jun 23, 2026, price C$0.0800). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Northern Graphite Corporation (NGC)?
Balance-sheet figures for Northern Graphite Corporation (as of Jun 23, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 20/100, which measures business quality independently of the share price.
How far is NGC from its 52-week high?
Northern Graphite Corporation trades at C$0.0800, about 77% below its 52-week high of C$0.3550 and at the low of C$0.0800 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of C$0.1955 is for.
Which stocks are comparable to Northern Graphite Corporation?
From the same area (Basic Materials) we also value Vale S.A, Saudi Arabian Mining Company, CMOC Group, China Tungsten And Hightech Materials Co, 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 Northern Graphite Corporation stock attractive at the current price?
The data as of Jun 23, 2026: price C$0.0800, calculated fair value C$0.1955 (+144%), Quality Score 20/100, from 3 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of NGC calculated?
We run Northern Graphite Corporation through 3 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of C$0.1955, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. Northern Graphite Corporation currently trades 144 % below its own fair value, and the market average says nothing about that. 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 Northern Graphite Corporation (NGC)?
The closing price on Sep 23, 2026 was C$0.0800. Our model-based fair value is C$0.1955, about +144% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Northern Graphite Corporation right now?
The large discount to fair value meets weak quality (20/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (C$0.1445). The market is more pessimistic than our downside scenario. 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 Northern Graphite Corporation

How large is the market capitalisation of Northern Graphite Corporation (NGC)?
The market capitalisation of Northern Graphite Corporation is C$23.2M (≈ $16.4M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Northern Graphite Corporation (NGC)?
The price-to-sales ratio of Northern Graphite Corporation is 1.53 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Northern Graphite Corporation (NGC)?
Earnings per share at Northern Graphite Corporation are C$−0.1800. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Northern Graphite Corporation (NGC)?
The net margin of Northern Graphite Corporation is −85.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Northern Graphite Corporation (NGC)?
The return on equity (ROE) of Northern Graphite Corporation is −331% (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 Northern Graphite Corporation (NGC)?
On an EBIT basis the return on assets of Northern Graphite Corporation is −14.3% (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 Northern Graphite Corporation (NGC)?
The operating margin of Northern Graphite Corporation is −107% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Northern Graphite Corporation (NGC)?
Revenue at Northern Graphite Corporation is growing −65.5% versus a year earlier (3y avg +27.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Northern Graphite Corporation (NGC) generate?
The free cash flow of Northern Graphite Corporation is −C$1.5M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Northern Graphite Corporation (NGC) carry?
The net debt of Northern Graphite Corporation is C$44.6M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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