Clean Power Hydrogen PLC (CPH2) AI Stock Analysis

• Market Cap: £22.59M
• Dividend Yield: N/A
• Average Volume (3M): 377.36K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.07
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: UK
• Employees: 52
• Sector: Industrials
• Sector Strength: 72
• Industry: Renewable Utilities
• EPS (TTM): -0.01
• Shares Outstanding: 502,013,100
• 10 Day Avg. Volume: 366,923
• 30 Day Avg. Volume: 377,364
• PEG Ratio: >-0.01
• Price to Book (P/B): 3.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -2.16
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -1.05
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: 4.50p ▼(-25.00% Downside)

The score is held down primarily by very weak financial performance (near-zero revenue, widening losses, and significant cash burn with a sharply reduced equity base). Technicals are moderately supportive with an uptrend and positive momentum, but elevated RSI increases pullback risk. Valuation remains unattractive/unclear due to ongoing losses and no indicated dividend yield.

Positive Factors

Proprietary Technology

Owning a proprietary membrane-free electrolysis design provides a potential long-term competitive moat if commercialized. Durable IP-led differentiation can enable premium equipment pricing, licensing, and partner manufacturing, supporting sustained equipment and service revenues.

Diverse Revenue Model

A model combining equipment sales with engineering, installation, after-sales services and possible licensing creates multiple durable revenue streams. Services and maintenance can generate recurring cashflows and help embed the technology across customer sites over months to years.

Low Financial Leverage

Low debt levels materially reduce near-term bankruptcy and interest burden risk, preserving strategic flexibility. This durable balance-sheet characteristic makes it easier to pursue partnerships, capital raises, or convertibles without crippling fixed-charge stress.

Negative Factors

Revenue Collapse and Widening Losses

Sustained near-zero revenues with materially widening net losses indicate unproven commercial traction and an uneconomic cost base. Over months this undermines operating leverage and makes it difficult to achieve self-sustaining growth without structural changes or material new orders.

Persistent Cash Burn

Consistent negative operating and free cash flow signals ongoing funding needs and likely dilution or dependency on external capital. Over a multi-month horizon, persistent cash burn limits ability to fund commercialization, scale production, or support longer pilot-to-commercial cycles.

Weakened Capital Base

A sharply reduced equity base and shrinking assets materially reduce the company's shock-absorption capacity and creditworthiness. This structural weakening constrains investment in scale-up, increases reliance on external funding, and raises execution risk during commercialization.

Clean Power Hydrogen PLC Business Overview & Revenue Model

Company Description

Clean Power Hydrogen plc, a green hydrogen technology and manufacturing company, engages in the development of hydrogen and oxygen production solutions. The company provides membrane-free electrolyser technology, which produces green hydrogen and oxygen in medical grade purity. It serves power, industry and manufacturing, transportation and machinery, commercial and retail, and hydroculture markets. The company was formerly known as CPH2 Group PLC and changed its name to Clean Power Hydrogen plc in October 2021. Clean Power Hydrogen plc was founded in 2012 and is based in Doncaster, the United Kingdom.

How the Company Makes Money

Clean Power Hydrogen PLC Financial Statement Overview

Summary

Fundamentals are very weak: revenue has effectively fallen to zero (2022–2024), losses widened materially (net loss ~£14.4m in 2024) and gross profit stayed negative, indicating an uneconomic cost structure at current scale. Cash burn remains heavy (FCF ~-£8.9m in 2024), and equity fell sharply to ~£6.4m in 2024, reducing financial flexibility, despite low leverage.

Income Statement

Operating performance remains very weak. Revenue has effectively fallen to zero in recent years (2022–2024), while losses have widened materially: net loss increased from about £3.4m (2022) to ~£14.4m (2024), and EBITDA losses expanded sharply (~£14.4m in 2024). Gross profit is consistently negative (2022–2024), indicating an unproven/uneconomic cost structure at the current scale. The only positive period was 2021 with small revenue, but profitability was still deeply negative.

Balance Sheet

Leverage is low, which helps (debt-to-equity ~0.13 in 2024 and ~0.04 in 2023–2022), suggesting limited balance-sheet debt risk. However, the capital base has weakened significantly: equity fell from ~£25.2m (2022) and ~£21.0m (2023) to ~£6.4m (2024), alongside shrinking assets (~£29.4m in 2022 to ~£9.7m in 2024). Returns on equity are strongly negative in 2024, reflecting heavy losses against a much smaller equity cushion.

Cash Flow

Cash burn is substantial and persistent. Operating cash flow was negative across all years and deteriorated to ~-£5.9m in 2024 (from ~-£2.35m in 2023), while free cash flow stayed deeply negative (~-£8.9m in 2024). Although free cash flow improved versus 2023 (positive growth rate), it remains meaningfully negative, implying continued funding needs if conditions do not improve.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.00K	0.00	0.00	0.00	28.00K	107.00K
Gross Profit	-536.00K	-540.00K	-413.00K	-249.00K	3.00K	-51.00K
EBITDA	-15.37M	-14.36M	-4.67M	-3.31M	-3.26M	-1.73M
Net Income	-15.49M	-14.44M	-4.12M	-3.44M	-3.32M	-1.66M
Balance Sheet
Total Assets	11.85M	9.68M	24.51M	29.37M	6.03M	4.40M
Cash, Cash Equivalents and Short-Term Investments	1.83M	327.00K	8.47M	15.29M	480.00K	3.34M
Total Debt	708.00K	824.00K	737.00K	858.00K	1.37M	470.00K
Total Liabilities	3.05M	3.27M	3.55M	4.20M	6.38M	2.20M
Stockholders Equity	8.80M	6.42M	20.95M	25.17M	-352.00K	2.19M
Cash Flow
Free Cash Flow	-7.02M	-8.88M	-6.80M	-11.78M	-2.84M	-1.11M
Operating Cash Flow	-6.90M	-5.89M	-2.35M	-7.17M	-2.10M	-713.00K
Investing Cash Flow	-854.00K	3.73M	3.06M	-19.61M	-596.00K	-197.00K
Financing Cash Flow	5.58M	18.00K	-24.00K	28.09M	241.00K	2.84M

Clean Power Hydrogen PLC Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
AMP	58 Neutral	£22.05M	-1.13	-68.06%	―	-60.76%	-230.39%
AFC	51 Neutral	£129.16M	-4.98	-86.37%	―	732.03%	12.60%
CPH2	47 Neutral	£22.59M	-0.83	-113.32%	―	―	―
ITM	44 Neutral	£390.80M	-12.63	-18.47%	―	57.73%	-67.12%
HUI	44 Neutral	£12.33M	-36.88	-20.52%	―	―	―
PHE	41 Neutral	£19.00M	-3.31	-87.07%	―	3.87%	-160.00%

Clean Power Hydrogen PLC Corporate Events

Clean Power Hydrogen Adds Turner Pope as Joint Broker to Boost Market Profile

Clean Power Hydrogen plc has appointed Turner Pope Investments as joint broker, joining existing adviser Cavendish Capital Markets, in a move aimed at strengthening the company’s engagement with the stock market and improving the marketability of its shares. The decision underscores CPH2’s efforts to enhance its capital markets profile and investor communications as it seeks to commercialise its membrane-free electrolyser technology and pursue its strategy in the growing green hydrogen sector.

The most recent analyst rating on (GB:CPH2) stock is a Hold with a £5.50 price target. To see the full list of analyst forecasts on Clean Power Hydrogen PLC stock, see the GB:CPH2 Stock Forecast page.

CPH2 Reaches Key Milestones in Hydrogen Technology Advancements

Clean Power Hydrogen PLC (CPH2) has announced reaching a key milestone with the successful completion of the Level 1 Factory Acceptance Test for its next-generation MFE220 1MW unit. The electrolyser, which delivers medical-grade purity for hydrogen and oxygen, enables entry into new markets like semiconductors, data centers, and pharmaceuticals. This milestone has also facilitated the company’s decision to progress engineering design for a 5MW system, aiming for industry-leading efficiency. By focusing on decentralized ‘behind the meter’ solutions—such as grid support, renewable energy integration, and niche industrial uses—CPH2 positions itself as a cost-effective green hydrogen provider, ready to seize growing global demand with valuable potential to bypass reliance on government subsidies.

Clean Power Hydrogen PLC to Present at Mello2025 Investor Event

Clean Power Hydrogen PLC announced that its Chief Commercial Officer, Richard Scott, will present at the Mello2025 investor event on November 19th in London. This presentation is an opportunity for CPH2 to showcase its innovative hydrogen production technology to potential investors, potentially enhancing its market presence and attracting stakeholder interest.