Hydrogene de France (FR:HDF)
:HDF
Want to see FR:HDF full AI Analyst Report?
Top Page
Hydrogene de France
(HDF)
Select Model
Select Model
Rating:50Neutral
Price Target:
€4.00
▲(6.95% Upside)
Action:Reiterated
Date:03/29/26
The score is held back primarily by weak financial performance—persistent losses, negative operating/free cash flow, and highly volatile revenue including a sharp 2025 decline—despite the mitigating factor of very low leverage. Technical indicators add moderate support (positive MACD and price above shorter-term averages), but valuation remains unattractive/unclear due to negative earnings and no dividend yield.
Positive Factors
Low financial leverage / strong solvency
Very low debt reduces solvency and refinancing risk, giving the company flexibility to fund development-stage hydrogen projects and absorb construction volatility. This balance-sheet strength supports long-term project financing and partnership credibility with limited immediate leverage pressure.
Negative Factors
Consistent negative operating and free cash flow
Sustained negative operating and free cash flow requires continuous external capital to pursue projects, raising dilution and financing risk. This undermines the firm's ability to self-fund growth, increases dependence on partners/markets, and can constrain execution timing for multi-year projects.
Read all positive and negative factors
Positive Factors
Negative Factors
Low financial leverage / strong solvency
Very low debt reduces solvency and refinancing risk, giving the company flexibility to fund development-stage hydrogen projects and absorb construction volatility. This balance-sheet strength supports long-term project financing and partnership credibility with limited immediate leverage pressure.
Read all positive factors
Hydrogene de France (HDF) vs. iShares MSCI France ETF (EWQ)
Market Cap
€56.53M
Dividend YieldN/A
Average Volume (3M)2.62K
Price to Earnings (P/E)14.7
Beta (1Y)0.85
Revenue Growth-91.03%
EPS Growth47.04%
CountryFR
Employees125
SectorUtilities
Sector Strength65
IndustryRenewable Utilities
Share Statistics
EPS (TTM)-0.40
Shares Outstanding14,702,454
10 Day Avg. Volume2,687
30 Day Avg. Volume2,617
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)0.62
Price to Sales (P/S)51.45
P/FCF Ratio-10.05
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.73
Revenue Forecast (FY)€1.10M
Hydrogene de France Business Overview & Revenue Model
Company Description
Hydrogène de France Société anonyme operates as an independent power producer in France and internationally. It operates two hydrogen power plants; and manufactures and sells high power fuel cells. The company was incorporated in 2012 and is based...
How the Company Makes Money
HDF Energy’s business model is primarily based on developing, financing, building, and operating hydrogen-based power generation projects and monetizing the electricity (and, where applicable, associated services) produced by those assets. Key rev...
Hydrogene de France Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
74
Positive
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 998.00K | 11.13M | 3.94M | 3.46M | 885.00K |
| Gross Profit | -15.36M | -778.00K | 3.88M | 3.45M | 1.31M |
| EBITDA | 3.73M | -14.91M | -7.47M | -4.50M | -3.38M |
| Net Income | -5.75M | -10.86M | -7.84M | -3.37M | -3.52M |
Balance Sheet | |||||
| Total Assets | 90.26M | 100.69M | 116.04M | 117.12M | 115.60M |
| Cash, Cash Equivalents and Short-Term Investments | 35.70M | 39.25M | 62.67M | 87.36M | 95.72M |
| Total Debt | 394.00K | 410.00K | 407.00K | 406.00K | 2.47M |
| Total Liabilities | 6.77M | 10.74M | 15.34M | 9.71M | 6.45M |
| Stockholders Equity | 83.38M | 89.94M | 100.69M | 107.41M | 109.14M |
Cash Flow | |||||
| Free Cash Flow | -5.11M | -21.91M | -24.07M | -7.48M | -6.33M |
| Operating Cash Flow | -89.00K | -9.06M | -10.07M | -2.35M | -4.45M |
| Investing Cash Flow | -5.07M | -14.63M | -15.02M | -5.73M | -5.94M |
| Financing Cash Flow | -535.00K | 289.00K | 426.00K | 200.00K | 105.48M |
Hydrogene de France Technical Analysis
Positive
3.74
Price Trends
3.84
Positive
3.75
Positive
4.04
Negative
Market Momentum
-0.02
Positive
50.22
Neutral
39.74
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:HDF, the sentiment is Positive. The current price of 3.74 is below the 20-day moving average (MA) of 3.86, below the 50-day MA of 3.84, and below the 200-day MA of 4.04, indicating a neutral trend. The MACD of -0.02 indicates Positive momentum. The RSI at 50.22 is Neutral, neither overbought nor oversold. The STOCH value of 39.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:HDF.
Hydrogene de France Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
56 Neutral | €3.49M | ― | ― | ― | -48.74% | -323.89% | |
50 Neutral | €56.53M | 14.74 | -14.33% | ― | -91.03% | 47.04% | |
49 Neutral | €23.39M | -0.54 | ― | ― | -41.98% | -19.18% | |
45 Neutral | €1.01B | -2.90 | -3.36% | ― | 7.53% | -511.50% | |
42 Neutral | €108.89M | -2.69 | ― | ― | 91.61% | -74.56% |
* Utilities Sector Average
FR:HDF
Hydrogene de France
3.85
-1.14
-22.79%
FR:VLTSA
Voltalia
7.67
-0.55
-6.75%
FR:MLCMG
CMG CleanTech SA
0.22
-0.68
-75.42%
FR:ALOKW
Groupe Okwind
0.42
-1.31
-75.66%
FR:ALHAF
Haffner Energy SAS
0.15
-0.16
-51.63%
FR:LHYFE
Lhyfe SA
2.27
-0.98
-30.09%
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.