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Northern Star Resources AUD

Update

Sector: Gold mining

AU_NST

Price chart

21.1 AUDDay -3.08%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
21.1 AUD · -3.08%
Market cap
30.1 bn AUD

Growth

Δ revenue y/y
30.4%
Δ EBITDA y/y
58.1%

Multiples

P/E (LTM)
22.5x
3y avg: 25.4x
P/B (FY)
2.0x
P/E (ann.)
21.1x
EV/EBITDA (LTM)
9.0x
3y avg: 9.9x
EV/EBITDA (ann.)
8.1x

Cash return

Dividend yield
2.7%
FCF yield (LTM)
0.2%

Value creation

to fair market cap at the 3-yr-average EV/EBITDA
Upside (potential)
-27.8%
↓ details

Liquidity

Daily turnover (listing)
89.3 mln AUD

Shares: yahoo_fundamentals_timeseries/NST.AX

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial dynamics

Monetary columns are in M AUD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM AUDOperating profitM AUDD&AM AUDEBITDAM AUDNet profitM AUDOperating CFM AUDCapex + M&AM AUDAssetsM AUDEquityM AUDROE (annualized)Net debtM AUDSource
2025-12-31H1 2025 (6M)OK-3000.6
y/y —
-947.1
y/y —
-554.8
y/y —
-1501.9
y/y —
-625.3
y/y —
-1922.3991.520697.6
y/y —
15240.1
y/y —
9.5%17.8—
2025-06-30FY 2025 (12M)OK6414.9
y/y 30.4%
1987.3
y/y 101.0%
1365.2
y/y 20.6%
3352.5
y/y 58.1%
1339.7
y/y 109.8%
2953.5-2296.520432.4
y/y 56.2%
14917.2
y/y 69.7%
11.3%-323.4—
2024-06-30FY 2024 (12M)OK4921.2
y/y 19.1%
988.6
y/y 13.7%
1132.2
y/y 242.7%
2120.8
y/y 76.8%
638.5
y/y 9.1%
2070.4-1504.513080.8
y/y 6.2%
8790.9
y/y 3.6%
7.4%64.9—
2023-06-30FY 2023 (12M)OK4131.1
y/y —
869.1
y/y —
330.4
y/y —
1199.5
y/y —
585.2
y/y —
1351.5-1061.212316.2
y/y —
8483.5
y/y —
—42.2—
Data quality No obvious scale, balance-sheet, or cash-flow sanity issues in the displayed periods.

Revenue & EBITDA

RevenueEBITDA

Quarterly values (AUD mln)

02 0004 0006 0002023 FY2024 FY2025 FY

Year-over-year change

0%20%40%60%80%2023 FY2024 FY2025 FY

Cash flow

FCF (AUD mln)

05001 0001 5002023 FY2024 FY2025 FY

Net debt / cash (AUD mln)

-400-300-200-10001002023 H12023 FY2024 H12024 FY2025 H12025 FY

Key-commodity price — Gold

Current 4 126spot vs LTM -3%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -31.0%

Main driver: Gold -3% vs LTM; revenue ×0.97 vs costs ×1.04; EBITDA 3 561→2 459; at 8.5× EV/EBITDA → -31%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Gold (rev)+100%4 126.454 246.023 157.77-3%-26%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue6 829
LTM EBITDA3 561
LTM cash costs (revenue − EBITDA)3 267
2 · Revenue projection
Revenue multiplier — spot×0.972 (-3%)
= Spot revenue6 636
Revenue multiplier — 3y price×0.744 (-26%)
= 3-year-price revenue5 078
3 · Costs projection
Cost multiplier — spot×1.040 (+4%)
= Spot cash costs3 398
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs3 398
4 · EBITDA projection (revenue − costs)
= Spot EBITDA3 238
= 3-year-price EBITDA1 680
Conservative EBITDA = min(spot, avg)2 459
5 · Valuation → target market cap
Historical EV/EBITDA (75th pct)8.5x
Target EV = EV/EBITDA × conservative EBITDA20 828
Net debt18
Target market cap = EV − net debt20 810
Current market cap30 142

Upside = target market cap ÷ current − 1 = -31.0%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 FY4 1313 727+10.8%1 232805+53.1%
2024 FY4 9214 693+4.9%2 1611 678+28.8%
2025 FY6 4156 670-3.8%3 4353 800-9.6%

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +30% vs +19% the year before — a +11.2 pp move. 3-year CAGR +20%.
revenue growth by year: 2023 +11% · 2024 +19% · 2025 +30%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 8.8x · target 75th pct (3y) 29.2x · LTM avg 10.7x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-03-030.25 AUDEx-dividend: 0.25 AUD per sharePaidYahoo Finance (ex-div)
2025-09-020.3 AUDEx-dividend: 0.3 AUD per sharePaidYahoo Finance (ex-div)
2025-03-040.25 AUDEx-dividend: 0.25 AUD per sharePaidYahoo Finance (ex-div)
2024-09-030.25 AUDEx-dividend: 0.25 AUD per sharePaidYahoo Finance (ex-div)
2024-03-050.15 AUDEx-dividend: 0.15 AUD per sharePaidYahoo Finance (ex-div)
2023-09-050.155 AUDEx-dividend: 0.155 AUD per sharePaidYahoo Finance (ex-div)
2023-03-060.11 AUDEx-dividend: 0.11 AUD per sharePaidYahoo Finance (ex-div)
2022-09-060.115 AUDEx-dividend: 0.115 AUD per sharePaidYahoo Finance (ex-div)
2022-03-060.1 AUDEx-dividend: 0.1 AUD per sharePaidYahoo Finance (ex-div)
2021-09-060.095 AUDEx-dividend: 0.095 AUD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)