Neptune Digital Assets

NDA.V

Financial - Capital Markets · Financial Services

Exchange

Toronto Stock Exchange Ventures

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through May 31, 2026

How the score breaks down

Quality

Mixed

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Data not available

Track this stock — start free trial

Winston Score History

The full picture

Neptune Digital Assets Corp. is a Canadian company that earns money by mining cryptocurrency and running blockchain infrastructure. Its main activities include Bitcoin mining, staking digital assets, and operating nodes on various blockchain networks. It serves the broader crypto ecosystem rather than traditional retail or business customers.

The company generates revenue through block rewards from mining Bitcoin, staking rewards from holding and validating other cryptocurrencies, and fees from running blockchain nodes. It operates primarily in Canada and is a small-cap firm listed on the TSX Venture Exchange. Its gross margin is reasonable, but the deeply negative operating margin signals that costs — including energy, equipment, and overhead — far exceed current earnings. The biggest risk Neptune faces is the volatile price of Bitcoin and other cryptocurrencies, since a sharp drop in crypto prices can quickly wipe out mining profitability and make its operations uneconomical.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-66.8% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+444.8% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

11.5%ownership

Insiders own a meaningful stake in the company

Cash Runway

5+ years

Quarterly Free Cash Flow

→ Burn rate stable

C$25M cash & investments at current burn rate

Revenue declining

Neptune Digital Assets's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

98.5%

Premium pricing power — 98.5% gross margin

Profit after running costs

Operating Margin

-313.5%

Losing money on operations — -313.5%

Return on the money invested

ROCE

-4.7%

Weak — -4.7% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth

Sales YoY

-37.8%

Shrinking sales (-37.8% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash

Cash Conversion

-2008%

Weak — only -2008% of profit becomes cash

Spare cash per sale

FCF Margin

-365.0%

Burning cash (-365.0%)

Free cash flow is negative. They are burning cash, not generating it.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns

Debt / Equity

0.24

Conservative — low debt load (0.24)

Covers its interest

Interest Cover

N/A

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit

P/E Ratio (TTM)

N/A

no trend

Data not available

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Not applicable for this business.

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial