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Evolution Metals & Technologies
(NASDAQ:EMAT)
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Rating:46Neutral
Price Target:
$2.50
▼(-74.75% Downside)
Action:Reiterated
Date:08/01/26
The score is primarily held down by very weak financial performance (extreme losses, negative equity, and continued cash burn). Technicals also lean negative with the stock far below major moving averages. Corporate events provide the main offset via progress on non-China supply and capacity expansion plus restored Nasdaq compliance, but financing/dilution and execution risks remain. Valuation is difficult to support given negative earnings and no indicated dividend.
Positive Factors
Secured non-China NdPr supply
Securing a non‑China NdPr feedstock reduces geopolitical sourcing risk and aligns the company with tightening U.S. defense sourcing rules. This durable input certainty supports continuous magnet production, contractability with defense/industrial customers, and lowers long‑term supply disruption risk.
Negative Factors
Severely negative profitability and equity
Operating and net losses that massively exceed revenue and a TTM negative equity position indicate structural capital erosion. Negative equity constrains borrowing capacity, raises solvency and covenant risk, and makes future financing more dilutive or costly, impairing long‑term strategic flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Secured non-China NdPr supply
Securing a non‑China NdPr feedstock reduces geopolitical sourcing risk and aligns the company with tightening U.S. defense sourcing rules. This durable input certainty supports continuous magnet production, contractability with defense/industrial customers, and lowers long‑term supply disruption risk.
Read all positive factors
Evolution Metals & Technologies (EMAT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.28B
Dividend Yield9.44%
Average Volume (3M)1.30K
Price to Earnings (P/E)―
Beta (1Y)0.06
Revenue GrowthN/A
EPS Growth-191.07%
CountryUS
Employees5
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)N/A
Shares Outstanding621,790,650
10 Day Avg. Volume912
30 Day Avg. Volume1,300
Financial Highlights & Ratios
PEG Ratio-0.09
Price to Book (P/B)-5.44
Price to Sales (P/S)0.00
P/FCF Ratio-22.97
Enterprise Value/Market Cap2.56
Enterprise Value/Revenue3.10K
Enterprise Value/Gross Profit13.08K
Enterprise Value/Ebitda-342.83
Forecast
1Y Price Target
$12.00Price Target Upside21.21% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Evolution Metals & Technologies Business Overview & Revenue Model
Company Description
Evolution Metals & Technologies Corp. (EMAT) specializes in advanced manufacturing and critical materials. The company's core mission is to develop supply chains for essential resources, particularly rare earth permanent magnets, battery component...
Evolution Metals & Technologies Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
18
Very Negative
Cash Flow
20
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.88M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 445.00K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -16.98M | -2.04M | -773.98K | -37.65K | -2.21M | -68.60K |
| Net Income | -441.58M | -1.79M | -899.93K | -54.32K | -2.39M | -68.60K |
Balance Sheet | ||||||
| Total Assets | 85.62M | 6.61M | 12.27M | 21.96M | 5.04M | 76.53M |
| Cash, Cash Equivalents and Short-Term Investments | 5.39M | 4.02K | 1.19K | 5.93K | 65.38K | 1.20M |
| Total Debt | 11.29M | 5.16M | 4.04M | 26.63M | 5.93M | 0.00 |
| Total Liabilities | 96.44M | 12.22M | 10.93M | 30.99M | 6.43M | 2.77M |
| Stockholders Equity | -24.76M | -5.61M | 1.34M | -9.03M | -1.40M | 73.77M |
Cash Flow | ||||||
| Free Cash Flow | -6.45M | -1.33M | -1.46M | -20.76M | -677.89K | -260.82K |
| Operating Cash Flow | -6.42M | -1.33M | -1.46M | -8.64M | -677.89K | -260.82K |
| Investing Cash Flow | 7.07M | 6.07M | 12.32M | -12.12M | -3.82M | -75.00M |
| Financing Cash Flow | -6.95M | -4.74M | -11.03M | 20.70M | 3.82M | 76.46M |
Evolution Metals & Technologies Risk Analysis
Evolution Metals & Technologies disclosed 3 risk factors in its most recent earnings report. Evolution Metals & Technologies reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Evolution Metals & Technologies Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $4.39B | 57.14 | 9.41% | 0.23% | 11.39% | 651.28% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | $7.36B | -98.08 | -3.49% | ― | 60.93% | 34.20% | |
50 Neutral | $3.66B | -3.84 | -76.53% | ― | ― | -493.47% | |
46 Neutral | $2.28B | -0.05 | 3720.33% | 9.44% | ― | -191.07% | |
45 Neutral | $619.47M | -5.93 | -21.43% | ― | ― | -265.11% | |
44 Neutral | $776.97M | -12.49 | -35.30% | ― | ― | -48.46% |
* Basic Materials Sector Average
EMAT
Evolution Metals & Technologies
2.69
-8.31
-75.55%
MTRN
Materion
278.26
172.22
162.40%
NB
NioCorp Developments
5.06
0.32
6.75%
MP
MP Materials
47.49
-26.83
-36.10%
IPX
Iperionx Ltd. ADR
23.87
-13.78
-36.60%
USAR
USA Rare Earth
17.41
1.15
7.07%
Evolution Metals & Technologies Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Evolution Metals advances ex-China rare earth magnet supply
Positive
Jul 22, 2026
On July 22, 2026, Evolution Metals Technologies announced receipt of its first five-metric-ton shipment of neodymium-praseodymium metal from SRE Vietnam under a supply agreement with Senri Trading. The non-China NdPr feedstock will be converted i...
Business Operations and Strategy
Evolution Metals secures non-China rare earth supply
Positive
Jul 7, 2026
On July 7, 2026, Evolution Metals Technologies Corp. announced a supply agreement with Senri Trading Co. to purchase bulk neodymium-praseodymium metal from SRE Vietnam, a subsidiary of Japan’s Tokai Trading, entirely from non-China sources ...
Delistings and Listing ChangesRegulatory Filings and Compliance
Evolution Metals Regains Nasdaq Compliance After Filing Delay
Positive
May 26, 2026
On May 26, 2026, Evolution Metals Technologies said it had received and resolved a Nasdaq compliance issue tied to a delayed Form 10-Q filing for the quarter ended March 31, 2026. The company had been notified by Nasdaq that the late filing put i...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Evolution Metals advances rare earth magnet capacity plans
Positive
May 22, 2026
On May 22, 2026, Evolution Metals Technologies reported first-quarter 2026 results and detailed progress on its strategy to scale rare earth magnet production outside China, following its January 6 debut on the Nasdaq Global Market under the tick...
Business Operations and StrategyDelistings and Listing ChangesFinancial DisclosuresRegulatory Filings and Compliance
Evolution Metals Warns of Delayed 10-Q and Nasdaq Risk
Negative
May 20, 2026
Evolution Metals Technologies Corp. disclosed that it will not meet the extended deadline to file its Form 10-Q for the quarter ended March 31, 2026, citing accounting and reporting complexities tied to a large overseas equipment purchase and oth...
Business Operations and Strategy
Evolution Metals expands Korean high-performance magnet capacity plans
Positive
May 14, 2026
On May 13, 2026, subsidiary Evolution Metals LLC signed eight equipment supply contracts with ULVAC Korea for vacuum induction melting and continuous vacuum sintering furnaces destined for EMT’s rare earth metal and permanent magnet producti...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Evolution Metals Inks $100M Convertible Debenture Financing Facility
Positive
May 11, 2026
On May 7, 2026, Evolution Metals Technologies Corp. entered into a securities purchase agreement with Yorkville Advisors Global’s YA II PN fund for a flexible, multi‑tranche convertible debenture facility of up to $100 million, issuin...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.