Northern Star Resources Limited

NST.AX

Gold · Basic Materials

Also trades as: NESRF

Exchange

Australian Securities Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Strong

Growth

Good

Cash Flow

Strong

Stability

Exceptional

Valuation

Strong

Dividends

Strong

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Winston Score History

The full picture

Northern Star Resources is one of Australia's largest gold mining companies. It digs gold out of the ground at several mines across Australia and Alaska, then sells that gold to banks, refiners, and other buyers in global commodity markets. The company owns major operations including the Jundee and Pogo mines, and its biggest asset is a large stake in the Kalgoorlie Super Pit, one of the most famous open-pit gold mines in the world.

Northern Star makes money by selling gold at market prices, so its profits rise and fall with the gold price. The company operates primarily in Western Australia and Alaska, and its large, long-life mines give it lower costs per ounce compared to smaller rivals. With a market cap around $31 billion, it is a heavyweight in the Australian mining sector. The key growth driver is expanding production at the Kalgoorlie Super Pit, though falling gold prices or rising mining costs remain the main risks to earnings.

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

+18.7% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-1.5% YoY

YoY Growth Rate

Earnings declining

Insider Activity

3.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

A$1.1B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Northern Star Resources Limited is a rare growth stock that's already generating positive cash flow while growing at 19%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

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

38.4%

Modest — 38.4% gross margin

Profit after running costs

Operating Margin

36.2%

Excellent — 36.2% operating margin

Return on the money invested

ROCE

15.4%

Strong — 15.4% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

+18.8%

Fast-growing sales (+18.8% YoY)

Profit growth

EPS YoY

+4.5%

Modest earnings growth (+4.5% YoY)

Single-digit earnings growth — steady but not exciting.

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

191%

Turns 191% of profit into real cash

Spare cash per sale

FCF Margin

9.1%

Modest free cash flow (9.1%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.10

Conservative — low debt load (0.10)

Covers its interest

Interest Cover

25.59x

Comfortably covers interest (25.6x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

20.5x

no trend

Growth-priced — P/E 20.5

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

+11.5

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (20.5 → 9.0)

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Dividends

Dividend

Dividend Yield

2.44%

no trend

Moderate income — 2.44% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+98.1%

no trend

Dividend growing fast (98.1% YoY)

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