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Haydale Graphene (GB:HAYD)
LSE:HAYD

Haydale Graphene (HAYD) AI Stock Analysis

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GB:HAYD

Haydale Graphene

(LSE:HAYD)

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Neutral 41 (OpenAI - 5.2)
Rating:41Neutral
Price Target:
0.39p
▼(-20.00% Downside)
Action:ReiteratedDate:02/23/26
The score is driven primarily by very weak financial performance (severe revenue decline, continued large losses, and persistent cash burn alongside a thinner equity cushion and higher leverage). Technicals add further pressure with a downtrend and negative momentum, while valuation is constrained by a negative P/E and no dividend support.
Positive Factors
Diversified revenue streams
Multiple revenue channels—product sales, custom functionalisation services, and funded development contracts—provide structural diversification. Services and collaborations can create recurring technical revenue and deepen customer ties, helping stabilize top-line swings over the medium term.
In-house processing & application capability
Having in-house materials processing and application development is a durable competitive advantage. It enables tailored customer solutions, faster prototyping and deployment, and higher switching costs, which can sustain long-term commercial relationships and support margin recovery if sales pick up.
Specialist niche positioning
A focused, technical position in functionalised graphene and nanomaterials places the business in a high-barrier specialty-chemicals niche. Technical know-how and targeted industrial applications can limit competition and enable differentiated, higher-value engagements over the medium term.
Negative Factors
Severe revenue and margin deterioration
An ~84% YoY revenue collapse and negative gross profit indicate a major loss of commercial traction. This undermines scale economics and shows the cost base isn't aligned to current volumes, making restoration of sustainable margins dependent on durable revenue recovery or structural cost reduction.
Persistent cash burn
Material negative operating and free cash flow means the company is consuming cash and likely depends on external financing. Persistent cash burn constrains investment in commercialization, risks dilution from capital raises, and threatens continuity absent a credible path to positive cash generation.
Weakened balance sheet and higher leverage
A sharply reduced equity cushion and higher debt/equity limit financial flexibility. With a thinner balance sheet, the company is less able to absorb continued losses, faces higher funding risk, and has reduced capacity to invest in growth or weather further operational setbacks.

Haydale Graphene (HAYD) vs. iShares MSCI United Kingdom ETF (EWC)

Haydale Graphene Business Overview & Revenue Model

Company DescriptionHaydale Graphene Industries plc, through its subsidiaries, engages in the design, development, and commercialization of advanced materials using graphene and other nanomaterials in United Kingdom, Europe, the United States, China, Thailand, South Korea, Japan, and internationally. It offers inks and coatings, resins, and fluids and masterbatches for use in composites and polymers; masterbatch and pre-preg composites, elastomers, and other nanomaterials; ceramycGuard, and advanced consulting services. The company also provides proprietary silicon carbide whisker powder and high wear resistant cutting tools for aerospace and automotive sectors. Haydale Graphene Industries plc was incorporated in 2010 and is headquartered in Ammanford, the United Kingdom.
How the Company Makes MoneyHaydale Graphene makes money through the commercialization of its advanced materials technology. The company's key revenue streams include the sale of functionalized nanomaterials, licensing of its proprietary technologies, and development contracts with industrial partners. Haydale collaborates with clients across different sectors to integrate its advanced materials into their products, thereby enhancing performance and creating value. Significant partnerships with companies in aerospace, automotive, and other industries contribute to its earnings by expanding its market reach and application areas. Additionally, Haydale generates revenue through consultancy services and research collaborations focused on the development and application of advanced material technologies.

Haydale Graphene Financial Statement Overview

Summary
Financial performance is extremely weak: FY2025 revenue collapsed (~84% YoY) with negative gross profit and a large net loss (~£7.2m on ~£0.6m revenue). Cash burn remains heavy (FY2025 operating cash flow ~-£4.3m; free cash flow ~-£4.4m) and the balance sheet has become riskier as equity eroded sharply and leverage rose (debt/equity ~1.39x).
Income Statement
9
Very Negative
Operating performance is very weak. Revenue collapsed in FY2025 (down ~84% year over year), and profitability deteriorated sharply with negative gross profit and deeply negative operating and net margins (net loss of ~£7.2m on ~£0.6m of revenue). While FY2024 showed positive gross profit, losses remained substantial, indicating the cost base is not aligned with current revenue levels and the business has not demonstrated a credible path to sustained profitability.
Balance Sheet
24
Negative
Leverage has increased meaningfully and financial flexibility appears to be tightening. Debt relative to equity moved from moderate levels in FY2023–FY2024 (~0.60x) to a higher level in FY2025 (~1.39x), alongside a sharp decline in equity (from ~£5.7m to ~£1.3m) and a smaller asset base. The balance sheet is not yet highly debt-loaded in absolute terms, but the reduced equity cushion raises risk and limits the company’s ability to absorb ongoing losses.
Cash Flow
18
Very Negative
Cash generation remains negative and funding needs look persistent. Operating cash flow and free cash flow are materially negative across the period, worsening in FY2025 (operating cash flow ~-£4.3m; free cash flow ~-£4.4m). Free cash flow improved versus the prior year in growth terms, but this is off a highly negative base and does not change the core issue: the company is consuming cash and appears reliant on external financing until profitability and working-capital dynamics improve.
BreakdownSep 2025Jun 2024Jun 2022Jun 2021Jun 2020
Income Statement
Total Revenue580.80K4.82M2.90M2.90M2.95M
Gross Profit-270.40K2.81M437.00K707.00K422.00K
EBITDA-2.22M-4.68M-4.18M-2.65M-2.98M
Net Income-7.18M-6.11M-4.81M-3.41M-4.02M
Balance Sheet
Total Assets4.37M11.31M14.46M13.78M13.14M
Cash, Cash Equivalents and Short-Term Investments1.68M1.72M1.19M1.64M823.00K
Total Debt1.82M3.42M4.27M4.46M2.90M
Total Liabilities3.06M5.63M7.42M7.02M5.69M
Stockholders Equity1.30M5.67M7.05M6.76M7.45M
Cash Flow
Free Cash Flow-4.38M-3.48M-4.20M-1.77M-2.87M
Operating Cash Flow-4.35M-2.96M-2.86M-1.29M-2.57M
Investing Cash Flow-286.00K-519.00K-1.34M-480.00K-295.00K
Financing Cash Flow4.61M3.79M3.73M2.54M-1.05M

Haydale Graphene Technical Analysis

Technical Analysis Sentiment
Negative
Last Price0.49
Price Trends
50DMA
0.44
Negative
100DMA
0.51
Negative
200DMA
0.53
Negative
Market Momentum
MACD
-0.02
Positive
RSI
29.18
Positive
STOCH
9.09
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:HAYD, the sentiment is Negative. The current price of 0.49 is above the 20-day moving average (MA) of 0.40, above the 50-day MA of 0.44, and below the 200-day MA of 0.53, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 29.18 is Positive, neither overbought nor oversold. The STOCH value of 9.09 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:HAYD.

Haydale Graphene Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
70
Outperform
£555.35M22.536.22%9.48%0.58%61.58%
62
Neutral
£203.93M4.130.60%2.00%15.56%-92.94%
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
56
Neutral
£27.98M5.98-11.10%14.51%77.27%
53
Neutral
£11.49M-2.27-78.76%-24.85%40.28%
41
Neutral
£29.78M-2.65-27.64%35.09%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
GB:HAYD
Haydale Graphene
0.38
0.27
241.96%
GB:DCTA
Directa Plus
11.00
4.00
57.14%
GB:HDD
Hardide
35.50
29.65
506.84%
GB:VCT
Victrex
638.00
-294.17
-31.56%
GB:ZTF
Zotefoams
418.00
161.06
62.68%

Haydale Graphene Corporate Events

Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
Haydale Completes Strategic Reset as SMCC Deal Transforms Revenue Visibility
Positive
Feb 17, 2026

Haydale reported audited results for the 15-month period to 30 September 2025, marking the completion of a strategic reset that saw it exit loss-making overseas operations, divest non-core activities and consolidate UK operations into a lower-cost structure with a de-risked balance sheet. The group raised £5.75m post period, is fully funded for its FY26 execution phase and expects existing cash and facilities to carry it through to anticipated EBITDA breakeven in Q1 FY27.

The post-period acquisition and integration of SaveMoneyCutCarbon in January 2026 has transformed Haydale into a scalable, product-led platform by materially improving revenue visibility and providing embedded routes to market for its graphene-enabled products such as JustHeat and a new thermal transfer fluid. Fully contracted revenues now cover more than 100% of Board expectations for H1 FY26, multi-year Impact Partner and customer programmes underpin repeatable revenues into H2 and beyond, and management highlights this as a structural inflection in commercial execution that aligns innovation with delivery for stakeholders.

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

Business Operations and StrategyFinancial Disclosures
Haydale Sets Date for 15-Month Audited Results as It Advances Graphene-Enabled Clean-Tech Strategy
Positive
Feb 11, 2026

Haydale plc, the AIM-quoted advanced materials and clean-tech specialist, uses its HDPlas platform to produce graphene-enabled solutions that improve energy and water efficiency across heating, cooling and other decarbonisation applications. Its execution-led strategy targets the UK’s built environment while building a scalable, partner-led model for overseas deployment.

The company has scheduled the release of its audited results for the 15 months ended 30 September 2025 for 17 February 2026. The forthcoming figures are expected to give shareholders clearer visibility on Haydale’s commercial progress, operational execution and positioning in the growing market for cost-effective decarbonisation technologies.

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

Regulatory Filings and Compliance
Haydale Confirms Total Voting Rights and Issued Share Capital
Neutral
Jan 30, 2026

Haydale Plc has confirmed that its issued share capital currently consists of 7,774,709,099 ordinary shares of 0.01 pence each, all carrying equal voting rights and with none held in treasury. The company stated that this total share count should be used by investors as the reference figure for calculating and disclosing their shareholdings or any changes in their interests in accordance with the FCA’s Disclosure Guidance and Transparency Rules, providing clarity and transparency around its capital structure for shareholders and the market.

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

Business Operations and Strategy
Haydale Rebrands to Reflect Broader Clean-Tech Focus
Positive
Jan 15, 2026

Haydale has changed its registered name from Haydale Graphene Industries Plc to Haydale Plc, with the new name effective at Companies House and trading on AIM under the updated branding from 16 January 2026, while retaining its existing TIDM and ISIN. The rebranding underscores the company’s broader positioning as a clean-tech and advanced materials platform beyond graphene alone, supporting its strategy to scale energy- and water-efficient technologies and strengthen its market identity as it rolls out decarbonisation solutions across the UK building stock.

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

Business Operations and StrategyExecutive/Board ChangesM&A TransactionsPrivate Placements and Financing
Haydale Completes SaveMoneyCutCarbon Deal to Build Scalable Graphene Clean-Tech Platform
Positive
Jan 12, 2026

Haydale Graphene Industries has completed the acquisition of Intelligent Resource Management, trading as SaveMoneyCutCarbon, in a deal that it describes as transformational for its transition from a graphene materials innovator into a scalable clean-tech platform. The transaction, backed by a £5.75m fundraising supported by strategic investors, senior management and strong retail demand, brings Haydale a national, partner-funded customer acquisition engine via SMCC’s relationships with major UK banks and utilities, plus an end-to-end B2B delivery platform for energy and water-efficiency projects. Haydale will plug its graphene-based JustHeat heating system and future graphene-enhanced products into SMCC’s Sustainability Hub and Impact Partner Programme, immediately expanding its route to market and potentially accelerating revenue growth. SMCC co-founder Mark Sait joins the Haydale board as Chief Commercial Officer, and the enlarged group positions itself as a vertically integrated provider of practical decarbonisation solutions for the built environment. The company also plans a corporate rebrand to Haydale plc and will update investors on commercial progress and integration when it reports extended-period results in early February 2026.

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

Business Operations and StrategyExecutive/Board ChangesM&A TransactionsPrivate Placements and Financing
Haydale Aligns Management Incentives After SaveMoneyCutCarbon Acquisition
Positive
Jan 9, 2026

Haydale Graphene Industries has reported a series of share subscriptions, option grants and warrant issuances to its directors and senior managers following the completion of its acquisition of Intelligent Resource Management Limited, which trades as SaveMoneyCutCarbon, and the associated fundraising announced in December 2025. Chief executive Simon Turek, chief financial officer Patrick Carter, chairman Gareth Kaminski-Cook, chief commercial officer Mark Sait, and non-executive directors Theresa Wallis and Jeremy Nesbitt, along with PDMR Mark Heycock, have all received new equity interests or options, consolidating their holdings and aligning management incentives with shareholders after the transaction, which significantly reshapes the company’s capital structure and reinforces executive commitment to the enlarged group’s future strategy.

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

Business Operations and StrategyPrivate Placements and FinancingShareholder Meetings
Haydale Shareholders Back All Resolutions, Paving Way for Fundraising and Enlarged Share Capital
Positive
Jan 6, 2026

Haydale Graphene Industries PLC said shareholders overwhelmingly approved all resolutions at a general meeting held on 6 January 2026, clearing the way for its previously announced fundraising to proceed, subject to the placing agreement becoming unconditional and the admission of new shares to trading on AIM on 7 and 8 January 2026. Following the second admission, the company will have 7,774,709,099 ordinary shares in issue, a new capital structure that will form the basis for shareholder disclosure obligations and is expected to support Haydale’s funding needs as it pursues its advanced materials growth strategy.

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

Business Operations and StrategyPrivate Placements and Financing
Haydale Graphene Successfully Closes Oversubscribed Retail Offer
Positive
Dec 16, 2025

Haydale Graphene Industries PLC announced the successful closure of its Retail Offer, raising £0.50 million through the issuance of 100,000,000 Retail Shares. The offer was oversubscribed, indicating strong demand from existing shareholders. The company has conditionally raised a total of approximately £5.75 million through its fundraising efforts, subject to the approval of resolutions at the upcoming General Meeting. This capital injection is expected to support Haydale’s strategic initiatives and strengthen its position in the advanced materials market.

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

Delistings and Listing ChangesPrivate Placements and Financing
Haydale Graphene Raises £5.25 Million to Fuel Growth and Expansion
Neutral
Dec 15, 2025

Haydale Graphene Industries PLC has successfully completed an Accelerated Bookbuild (ABB), raising a total of £5.25 million, albeit £0.7 million less than initially anticipated due to some market counterparties not confirming orders. The funds will support the company’s growth plans and capitalize on new commercial opportunities following an acquisition. Additionally, Haydale is offering existing retail investors the chance to subscribe for more shares to potentially raise an additional £0.5 million. The company has also confirmed the issuance of Convertible Loan Notes and expects the admission of new shares to trading on AIM in January 2026.

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

Private Placements and Financing
Haydale Graphene Launches Retail Share Offer to Boost Capital
Neutral
Dec 12, 2025

Haydale Graphene Industries PLC has announced a retail offer of new ordinary shares priced at 0.5 pence each, which is part of a broader fundraising initiative including a separate placing and subscription. The proceeds from the fundraising will be used to support the company’s general working capital needs. This retail offer is available to existing shareholders in the UK and highlights the company’s commitment to involving its retail investor base in its financial activities. The offer is expected to close on December 15, 2025, with admission of new shares anticipated on January 7, 2026.

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

Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Haydale Graphene Expands with Strategic Acquisition and Fundraising
Positive
Dec 12, 2025

Haydale Graphene Industries PLC announced a significant acquisition and fundraising initiative to enhance its position as a graphene-enabled clean-technology platform. The company plans to acquire Intelligent Resource Management Limited, trading as SaveMoneyCutCarbon, to gain a national customer acquisition engine and scalable commercial platform. This strategic move aims to accelerate Haydale’s market access and distribution capacity, positioning it as a leader in energy-efficiency solutions. Additionally, Haydale intends to raise up to £6.41 million through a combination of placing, subscription, and retail offer to support its growth and capitalize on new commercial opportunities. The acquisition and fundraising are subject to shareholder approval, with the company also planning a name change to reflect its broader focus.

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

Business Operations and StrategyProduct-Related Announcements
Haydale Graphene Accelerates Commercial Momentum with Key Agreements and Industry Recognition
Positive
Dec 2, 2025

Haydale Graphene Industries has announced several key developments, including a distribution agreement with Interfloor, national recognition for its JustHeat product, and initial US orders. These advancements highlight the company’s accelerating commercial momentum and its strategic shift towards becoming a scaled product and service provider. The collaboration with Interfloor expands JustHeat’s market reach beyond residential applications, while the National Product of the Year award enhances its credibility. Furthermore, the US agreements mark an important step in Haydale’s international expansion strategy, validating JustHeat’s potential in a major market.

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

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.Date of analysis: Feb 23, 2026