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Northern Star Resources (NST) AUD

Northern Star Resources is a gold mining company that explores, develops, mines, and processes gold deposits, and sells refined gold. It operates in Western Australia, the Northern Territory, and Alaska.

At a glance: strengths & risks
✓Revenue growing (+6198%)✓Profit growing (+24%)✓Net cash balance sheet✗Margins compressing (52%→1%)

Sector: Gold mining

AU_NST

Price chart

23.91 AUDDay 0.00%

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
23.91 AUD · 0.00%
Market cap
34.0 bn AUD

Growth

Δ revenue y/y
18.7%
Δ EBITDA y/y
14.6%

Multiples

P/E (LTM)
20.5x
3y avg: 25.3x
P/B (FY)
2.2x
P/E (ann.)
17.9x
EV/EBITDA (LTM)
8.1x
3y avg: 9.9x
EV/EBITDA (ann.)
7.4x

Cash return

Dividend yield
2.3%
FCF yield (LTM)
3.2%

Liquidity

Daily turnover (listing)
87.8 mln AUD

Shares: connector/market_inputs

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 results

Monetary columns are in B 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.

DatePeriodStatusRevenueB AUDOperating profitB AUDD&AB AUDEBITDAB AUDNet profitB AUDOperating CFB AUDCapex + M&AB AUDAssetsB AUDEquityB AUDROE (annualized)Net debtB AUDSource
2026-06-30H2 2026 (6M)OK400.6
y/y 11196.8%
1.5
y/y 17.5%
0.8
y/y 9.6%
2.2
y/y 14.6%
0.9
y/y 14.0%
2.2-1.421.5
y/y 5.2%
15.7
y/y 5.1%
10.8%-1.0Yahoo Finance
2025-12-31H1 2026 (6M)OK3.4
y/y 19.0%
1.0
y/y 39.1%
0.8
y/y 24.9%
1.9
y/y 32.5%
0.7
y/y 41.1%
1.0-1.320.7
y/y 50.1%
15.2
y/y 70.4%
9.5%0.0stockanalysis.com
2025-06-30H2 2025 (6M)OK3.5
y/y 32.6%
1.2
y/y 81.6%
0.7
y/y -16.8%
2.0
y/y 26.7%
0.8
y/y 89.4%
1.7-1.220.4
y/y 56.2%
14.9
y/y 69.7%
11.2%-0.3Yahoo Finance
2024-12-31H1 2025 (6M)OK2.9
y/y 27.6%
0.7
y/y 144.4%
0.6
y/y 139.4%
1.4
y/y 142.0%
0.5
y/y 155.1%
1.3-1.113.8
y/y 10.9%
8.9
y/y 5.2%
11.4%-0.1stockanalysis.com
2024-06-30H2 2024 (6M)OK2.7
y/y —
0.7
y/y —
0.9
y/y —
1.5
y/y —
0.4
y/y —
1.2-0.813.1
y/y 6.2%
8.8
y/y 3.6%
7.4%0.1Yahoo Finance
2023-12-31H1 2024 (6M)OK2.2
y/y —
0.3
y/y —
0.3
y/y —
0.6
y/y —
0.2
y/y —
0.8-0.712.4
y/y —
8.5
y/y —
4.7%-0.1stockanalysis.com
2023-06-30FY 2023 (12M)OK4.1
y/y —
0.9
y/y —
0.3
y/y —
1.2
y/y —
0.6
y/y —
1.4-1.112.3
y/y —
8.5
y/y —
—0.0Yahoo Finance

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)0
Long-term debt (incl. LT leases)0
− Cash & equivalents1 018
Net debt-1 018

Net debt / LTM EBITDA: -0.2x

Revenue & EBITDA

RevenueEBITDA

Quarterly values (AUD mln)

0100 000200 000300 000400 0002023 H12023 H22024 H12024 H22025 H12025 H22026 H12026 H2

Year-over-year change

0%50%100%150%2023 H12023 H22024 H12024 H22025 H12025 H22026 H12026 H2

Cash flow

FCF (AUD mln)

-25002505007501 0002023 H12023 H22024 H12024 H22025 H12025 H22026 H12026 H2

Net debt / cash (AUD mln)

-1 250-1 000-750-500-25002023 H12023 FY2024 H12024 FY2025 H12025 FY2026 H12026 FY

Profit and cash

Profit is cash-backed
In a typical year of 2022–2026 operating cash flow came to 2.31x of reported net profit; after capex, 0.50x.
year20222023202420252026
cash flow / profit3.72x2.31x3.24x2.21x1.91x
accruals, % of assets-10.5%-6.2%-10.9%-7.9%-7.1%
Last twelve months (to 2026-06-30): 1.91x of profit came back as operating cash flow.
net debt / EBITDA -0.2x · capex 1.8x of depreciation
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Key-commodity price — Gold

Current 4 156spot vs LTM +12%

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 7.3x · target 75th pct (3y) 20.5x · LTM avg 10.7x

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

Peer comparison

Group: Gold mining. Each peer is shown as it trades and re-priced onto this company's market (Australia) by the ratio of our coverage medians.

CompanyMarketCap, $bnEV/EBITDAEV/EBITDA, adjusted
IAMGOLDglobal10.74.8x4.9x
Kinross Goldglobal28.94.9x5.1x
Barrick Mining Corporationglobal67.45.2x5.4x
Harmony GoldSouth Africa10.83.8x6.2x
Gold FieldsSouth Africa31.64.4x7.2x
Coeur Miningglobal11.37.0x7.3x
Newmont Corporationglobal125.87.6x7.9x
Evolution MiningAustralia18.38.4x8.4x
Agnico Eagle Minesglobal92.28.7x9.1x
Alamos Goldglobal13.79.0x9.4x
AngloGold AshantiSouth Africa47.96.3x10.2x
Hecla Mining Companyglobal11.512.0x12.5x
Group median6.6x7.6x
Group average6.8x7.8x
This companyAustralia23.68.1x8.1x

Group median 6.6x as traded, 7.6x adjusted; this company 8.1x — a 7% premium.

Group average 6.8x as traded, 7.8x adjusted; against the average this company is at a 4% premium.

At the adjusted group median the market cap would be -6% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 22.8x, Russia 3.9x, South Africa 5.1x, Kazakhstan 6.6x, India 18.2x, Indonesia 4.8x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-05; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-09-090.3 AUDEx-dividend: 0.3 AUD per sharePaidYahoo Finance (ex-div)
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)

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)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Northern Star Resources (NST) — from primary filings.

Frequently asked questions

What is Northern Star Resources (NST)'s P/E ratio?
Northern Star Resources (NST) trades at a P/E of 20.5x (price to trailing 12-month earnings).
What is Northern Star Resources (NST)'s EV/EBITDA?
Northern Star Resources (NST) trades at 8.1x EV/EBITDA.
What is Northern Star Resources (NST)'s P/B ratio?
Northern Star Resources (NST) trades at a P/B of 2.2x.
What is Northern Star Resources (NST)'s dividend yield?
Northern Star Resources (NST)'s trailing 12-month dividend yield is 2.3%.
What is Northern Star Resources (NST)'s return on equity (ROE)?
Northern Star Resources (NST)'s ROE is 12.1%.
What is Northern Star Resources (NST)'s market capitalization?
Northern Star Resources (NST)'s market cap is 34.0 bn AUD.

See also: Australian Stocks (2026): Iron Ore, Lithium, Gold and LNG on the ASX by Valuation · Gold Mining Stocks: The Cheapest Gold Miners by Valuation (2026) · The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map