EQTEC plc (EQT) AI Stock Analysis

• Market Cap: £3.34M
• Dividend Yield: N/A
• Average Volume (3M): 1.10M
• Price to Earnings (P/E): ―
• Beta (1Y): -1.78
• Revenue Growth: -64.78%
• EPS Growth: 59.65%
• Country: UK
• Employees: 28
• Sector: Industrials
• Sector Strength: 72
• Industry: Diversified Utilities
• EPS (TTM): N/A
• Shares Outstanding: 8,459,876,000
• 10 Day Avg. Volume: 2,090,119
• 30 Day Avg. Volume: 1,104,047
• PEG Ratio: <0.01
• Price to Book (P/B): 0.22
• Price to Sales (P/S): 0.75
• P/FCF Ratio: -0.43
• 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): 0.99
• Revenue Forecast (FY): £25.60M

• Rating: 42 Neutral
• Price Target: 0.06p ▼(-27.50% Downside)
• Action: Reiterated Date: 01/30/26
• Date: Action: Reiterated 01/30/26

The score is primarily held down by weak financial performance (ongoing losses, leverage, and negative cash flow). Technicals add further pressure due to a persistent downtrend, while valuation provides limited support given the negative P/E and lack of dividend data.

Positive Factors

Proprietary gasification technology

EQTEC's proprietary gasification and energy recovery platform is a durable competitive asset: it enables conversion of diverse waste feedstocks into syngas for power, heat, or fuels. This technical moat supports licensing, project supply chains, and long-term demand from decarbonisation and circular-economy trends.

Diversified revenue model

Multiple revenue streams — technology licensing, project development fees and energy sales — create structural resilience. Licensing can scale with limited capital, projects drive larger cash inflows, and grants/partnerships reduce funding needs, supporting sustained commercialisation over months to years.

Equity ratio stability

While leverage is elevated, a relatively stable equity ratio provides some capital buffer for project development and partner financing. That stability can help maintain investor and lender access for capital-intensive projects, supporting continuity of operations while restructuring or scaling occurs.

Negative Factors

Declining revenue and losses

Sustained revenue declines and persistent negative operating margins erode internal funding capacity and signal structural challenges in commercial adoption or pricing. Over months this impairs reinvestment into R&D and project pipelines and increases reliance on external financing to sustain operations.

High leverage

A high debt burden raises refinancing and solvency risk for a capital-intensive renewables specialist. Elevated leverage limits strategic flexibility, increases interest cost sensitivity, and can slow project execution or JV participation unless deleveraging or fresh capital is secured over the medium term.

Negative operating and free cash flow

Consistent negative operating and free cash flow undermines the firm's ability to self-fund projects and sustain day-to-day operations. Over a 2–6 month horizon this creates dependency on external funding, increasing dilution or creditor constraints and elevating execution risk for new projects.

EQTEC plc Business Overview & Revenue Model

Company Description

EQTEC plc (EQT) is a leading technology company specializing in the development and commercialization of advanced gasification and energy recovery solutions. The company operates primarily in the renewable energy sector, focusing on the conversion of waste materials into clean, renewable energy. EQTEC provides innovative technologies that enable the efficient transformation of biomass and other waste feedstocks into syngas, which can be utilized for electricity generation, heat production, or further processing into biofuels and chemicals.

How the Company Makes Money

EQTEC generates revenue through the sale and licensing of its proprietary gasification technology, as well as through the development and operation of energy projects that utilize its systems. Key revenue streams include project development fees, technology licensing agreements, and revenue from energy sales generated by operational plants. The company often partners with local governments, private investors, and energy producers to establish joint ventures or project financing arrangements, which can enhance its ability to scale operations and expand its market presence. Additionally, EQTEC may receive grants and incentives related to renewable energy initiatives, further contributing to its financial performance.

EQTEC plc Financial Statement Overview

Summary

Financial statements indicate material weakness: declining revenue, persistent losses with negative EBIT/EBITDA margins, high leverage with negative ROE, and negative operating/free cash flow raising liquidity and sustainability concerns.

Income Statement

EQTEC plc has experienced declining revenue growth over recent years with substantial losses. The gross profit margin has been inconsistent, and the net profit margin is negative due to persistent losses. Both EBIT and EBITDA margins are also negative, indicating operating challenges. The company's financial performance shows a need for strategic improvements to achieve profitability.

Balance Sheet

The balance sheet of EQTEC plc reflects high leverage with a debt-to-equity ratio indicating significant liabilities compared to equity. The return on equity is negative due to persistent losses, showcasing inefficiencies in using shareholder funds. However, the equity ratio remains relatively stable, showing some level of financial stability despite ongoing challenges.

Cash Flow

Cash flow analysis reveals negative free cash flow growth and operating cash flow, highlighting liquidity issues. The operating cash flow to net income ratio is unfavorable due to consistent losses. The company faces significant cash flow challenges, raising concerns about its ability to sustain operations without external financing.

Breakdown	Jun 2025	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.20M	2.55M	7.97M	9.17M	2.23M
Gross Profit	1.16M	372.63K	967.76K	1.63M	255.74K
EBITDA	-16.72M	-22.29M	-9.48M	-2.70M	-4.60M
Net Income	-19.42M	-23.51M	-10.53M	-4.70M	-5.76M
Balance Sheet
Total Assets	13.70M	29.62M	49.62M	50.56M	29.70M
Cash, Cash Equivalents and Short-Term Investments	306.93K	262.02K	1.69M	6.45M	6.39M
Total Debt	6.63M	5.55M	6.23M	257.71K	1.21M
Total Liabilities	8.69M	8.40M	12.49M	7.18M	4.40M
Stockholders Equity	7.43M	23.52M	39.39M	45.76M	27.52M
Cash Flow
Free Cash Flow	-3.90M	-5.43M	-11.00M	-8.54M	-3.71M
Operating Cash Flow	-3.90M	-5.41M	-10.34M	-7.54M	-3.54M
Investing Cash Flow	2.66M	158.85K	-4.34M	-8.88M	-1.52M
Financing Cash Flow	1.39M	3.68M	9.93M	16.60M	10.73M

EQTEC plc Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.08
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:EQT, the sentiment is Negative. The current price of 0.08 is above the 20-day moving average (MA) of 0.04, above the 50-day MA of 0.06, and below the 200-day MA of 0.33, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 41.24 is Neutral, neither overbought nor oversold. The STOCH value of 25.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:EQT.

EQTEC 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%
AFC	52 Neutral	£124.63M	-3.53	-86.37%	―	732.03%	12.60%
CPH2	47 Neutral	£23.85M	-1.47	-113.32%	―	―	―
IES	45 Neutral	£106.64M	-2.63	-32.53%	―	-58.85%	55.03%
HUI	44 Neutral	£9.52M	-7.42	-20.52%	―	―	―
EQT	42 Neutral	£3.34M	>-0.01	-126.45%	―	-64.78%	59.65%
PHE	41 Neutral	£19.00M	-2.80	-87.07%	―	3.87%	-160.00%

EQTEC plc Corporate Events

EQTEC Unveils High-Stakes Reset with Fundraising, Debt Deal and Pivot into Copper-Gold Exploration

EQTEC plc has announced a sweeping corporate reset built around a £1.3 million equity placing, a comprehensive restructuring of approximately £5.79 million of existing debt, and the addition of copper and gold exploration assets in Western Australia. The fundraising, at a steep discount to the current share price, is intended to finance the newly acquired 99% stake in the near drill-ready Green Rock copper-gold project, secure an exclusive option over the Peak Hill exploration portfolio, support working capital for its core gasification business, and settle certain creditor obligations. The agreed debt restructuring will convert a significant portion of secured and convertible borrowings into equity, replace other tranches with long-dated, zero-coupon facilities (including non-recourse debt at its Spanish subsidiary), and cancel existing lender warrants, collectively removing near-term refinancing risk and materially deleveraging the balance sheet. Execution of the proposals, however, is contingent on shareholder approval of key resolutions at an extraordinary general meeting in February, with the board warning that failure to pass them or secure alternative funding could force it to consider formal insolvency proceedings, underscoring the high-stakes nature of the company’s strategic relaunch into both energy transition and metals exploration.

The most recent analyst rating on (GB:EQT) stock is a Hold with a £0.09 price target. To see the full list of analyst forecasts on EQTEC plc stock, see the GB:EQT Stock Forecast page.

EQTEC Seeks Shareholder Backing for Capital Expansion, Rebrand to Forgent and Strategic Shift into Critical Metals

EQTEC plc has published a circular convening an extraordinary general meeting at which shareholders will be asked to approve an increase in authorised share capital, renewal of share allotment and pre-emption disapplication authorities, and a change of the company’s name to Forgent plc to reflect an expanded strategy. The enlarged capital base is intended to restore flexibility for equity fundraising, support a capital-light expansion into critical and precious metals assets alongside its core waste-to-energy gasification business, and create earlier cash-flow inflection points as its project pipeline matures, while the company pursues a lender-backed debt restructuring and short-term funding measures to deleverage its balance sheet, improve liquidity and align its capital structure with its broadened, vertically integrated growth ambitions.

The most recent analyst rating on (GB:EQT) stock is a Hold with a £0.14 price target. To see the full list of analyst forecasts on EQTEC plc stock, see the GB:EQT Stock Forecast page.

EQTEC Issues 122.5 Million New Shares Following Facility Conversion

EQTEC plc has received a conversion notice under its facility with Global Investment Strategy UK Limited for £50,000 of principal to be converted into 122,549,020 new ordinary shares at 0.0408p per share. The new shares, which will rank pari passu with existing stock, are expected to be admitted to trading on AIM around 20 January 2026, increasing EQTEC’s total shares in issue to 1,051,230,362 and adjusting the base for shareholders’ disclosure thresholds under UK transparency rules.

The most recent analyst rating on (GB:EQT) stock is a Sell with a £0.05 price target. To see the full list of analyst forecasts on EQTEC plc stock, see the GB:EQT Stock Forecast page.

EQTEC Extends Convertible Loan and Draws Further Funds to Bridge to February 2026

EQTEC has secured a further extension of the maturity date on its £0.7 million convertible loan to 28 February 2026 and has drawn down an additional £75,000 from its existing convertible loan facility as it continues negotiations with lenders and a major shareholder over a broader funding package. The cash-conservation measures and new drawdown are expected to extend the company’s cash runway to the end of February 2026, but EQTEC cautions there is no certainty that a comprehensive funding solution will be agreed, underscoring ongoing short-term working capital pressures and continued reliance on creditor support.

The most recent analyst rating on (GB:EQT) stock is a Sell with a £0.07 price target. To see the full list of analyst forecasts on EQTEC plc stock, see the GB:EQT Stock Forecast page.

EQTEC Converts Facility into New Shares to Boost Market Position

EQTEC plc announced the conversion of a £100,000 principal amount into 133,689,839 new ordinary shares under its facility with Global Investment Strategy UK Limited. These shares will be admitted to trading on AIM, increasing the total number of shares in issue to 928,681,342. This move reflects EQTEC’s ongoing efforts to strengthen its financial position and enhance its market presence in the clean energy sector.

The most recent analyst rating on (GB:EQT) stock is a Sell with a £0.07 price target. To see the full list of analyst forecasts on EQTEC plc stock, see the GB:EQT Stock Forecast page.

EQTEC Announces Share Conversion to Boost Market Position

EQTEC plc announced the conversion of £75,000 into 116,099,071 new ordinary shares as part of a facility with Global Investment Strategy UK Limited. The new shares will be admitted to trading on AIM, increasing the total ordinary shares in issue to 794,991,503. This move reflects EQTEC’s ongoing efforts to strengthen its financial position and enhance its market presence in the sustainable energy sector.

The most recent analyst rating on (GB:EQT) stock is a Sell with a £0.07 price target. To see the full list of analyst forecasts on EQTEC plc stock, see the GB:EQT Stock Forecast page.

EQTEC Secures Additional Funding for Methanation Projects in France

EQTEC plc has announced an extension of its collaboration with GRDF, bolstered by additional private funding to advance its methanation projects in France. The company secured further funding for the Green Gas Provence project in Istres and won a competitive R&D tender for a methanation system at the University of Lorraine. This funding supports EQTEC’s efforts to demonstrate the conversion of high-purity syngas into renewable methane, with a major utility expressing interest in the project’s outcomes. These developments highlight EQTEC’s progress in the clean-tech sector despite challenging market conditions.

The most recent analyst rating on (GB:EQT) stock is a Sell with a £0.10 price target. To see the full list of analyst forecasts on EQTEC plc stock, see the GB:EQT Stock Forecast page.

EQTEC plc Announces Funding Update Amidst Challenging Market Conditions

EQTEC plc announced a corporate and funding update, highlighting its challenging trading and funding environment due to broader market conditions in the clean energy sector. The company has a total corporate debt of approximately £6.1 million and is actively seeking additional funding to meet its short-term obligations. A preliminary agreement with Rebel Ion Limited and existing lenders could potentially restructure this debt, contingent on a successful equity raise and regulatory approvals. The proposed arrangement aims to extend loan maturities and convert some debt into equity, which could improve EQTEC’s financial stability and support its strategic de-leveraging efforts.

The most recent analyst rating on (GB:EQT) stock is a Hold with a £0.50 price target. To see the full list of analyst forecasts on EQTEC plc stock, see the GB:EQT Stock Forecast page.

EQTEC Announces Share Conversion to Enhance Market Presence

EQTEC plc announced the conversion of a £50,000 principal amount into 30,595,875 new ordinary shares as part of its facility with Global Investment Strategy UK Limited. The new shares will be admitted to trading on AIM, increasing the total number of ordinary shares to 678,892,432. This move is part of EQTEC’s strategic financial activities, potentially impacting shareholder interests and enhancing the company’s market presence.

The most recent analyst rating on (GB:EQT) stock is a Hold with a £0.50 price target. To see the full list of analyst forecasts on EQTEC plc stock, see the GB:EQT Stock Forecast page.