EQTEC PLC (GB:FORG)
LSE:FORG
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EQTEC plc
(LSE:FORG)
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Rating:42Neutral
Price Target:
0.06 p
▼(-27.50% Downside)
Action:ReiteratedDate: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.
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.
Read all positive and negative factors
Positive Factors
Negative 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.
Read all positive factors
EQTEC plc (FORG) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£2.01M
Dividend YieldN/A
Average Volume (3M)1.10M
Price to Earnings (P/E)―
Beta (1Y)-1.61
Revenue Growth-64.78%
EPS Growth59.65%
CountryUK
Employees28
SectorIndustrials
Sector Strength72
IndustryDiversified Utilities
Share Statistics
EPS (TTM)N/A
Shares Outstanding8,459,876,000
10 Day Avg. Volume2,090,119
30 Day Avg. Volume1,104,047
Financial Highlights & Ratios
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 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)0.99
Revenue Forecast (FY)£25.60M
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...
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, ...
EQTEC plc Financial Statement Overview
Summary
Income Statement
30
Negative
Balance Sheet
45
Neutral
Cash Flow
25
Negative
| 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
Negative
0.08
Price Trends
0.04
Negative
0.07
Negative
0.26
Negative
Market Momentum
>-0.01
Positive
20.84
Positive
5.26
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:FORG, the sentiment is Negative. The current price of 0.08 is above the 20-day moving average (MA) of 0.03, above the 50-day MA of 0.04, and below the 200-day MA of 0.26, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 20.84 is Positive, neither overbought nor oversold. The STOCH value of 5.26 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:FORG.
EQTEC plc Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
52 Neutral | £117.06M | -3.53 | -76.88% | ― | 732.03% | 12.60% | |
47 Neutral | £30.12M | -1.47 | -203.60% | ― | ― | ― | |
45 Neutral | £96.69M | -2.63 | -35.65% | ― | -58.85% | 55.03% | |
44 Neutral | £11.90M | -7.42 | -20.52% | ― | ― | ― | |
42 Neutral | £2.01M | -0.48 | -126.45% | ― | -64.78% | 59.65% | |
41 Neutral | £18.33M | -2.80 | -87.07% | ― | 3.87% | -160.00% |
* Industrials Sector Average
GB:FORG
EQTEC plc
0.02
-0.59
-96.23%
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17.00
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10.30
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GB:PHE
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0.41
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-10.87%
GB:HUI
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GB:CPH2
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6.00
0.75
14.29%
EQTEC plc Corporate Events
Business Operations and StrategyPrivate Placements and FinancingShareholder Meetings
EQTEC Unveils High-Stakes Reset with Fundraising, Debt Deal and Pivot into Copper-Gold Exploration
Negative
Jan 29, 2026
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 Weste...
Business Operations and StrategyPrivate Placements and FinancingShareholder Meetings
EQTEC Seeks Shareholder Backing for Capital Expansion, Rebrand to Forgent and Strategic Shift into Critical Metals
Neutral
Jan 21, 2026
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 chan...
Private Placements and FinancingRegulatory Filings and Compliance
EQTEC Issues 122.5 Million New Shares Following Facility Conversion
Neutral
Jan 14, 2026
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 ...
Business Operations and StrategyPrivate Placements and Financing
EQTEC Extends Convertible Loan and Draws Further Funds to Bridge to February 2026
Negative
Dec 23, 2025
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 le...
Delistings and Listing ChangesPrivate Placements and Financing
EQTEC Converts Facility into New Shares to Boost Market Position
Positive
Dec 15, 2025
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...
Delistings and Listing ChangesPrivate Placements and Financing
EQTEC Announces Share Conversion to Boost Market Position
Positive
Dec 11, 2025
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 is...
Business Operations and StrategyPrivate Placements and Financing
EQTEC Secures Additional Funding for Methanation Projects in France
Positive
Dec 3, 2025
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 ...
Business Operations and StrategyPrivate Placements and Financing
EQTEC plc Announces Funding Update Amidst Challenging Market Conditions
Negative
Nov 24, 2025
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...
Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and Financing
EQTEC Announces Share Conversion to Enhance Market Presence
Neutral
Nov 7, 2025
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 n...
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.