LanzaTech Global (LNZA) AI Stock Analysis

• Market Cap: $27.84M
• Dividend Yield: N/A
• Average Volume (3M): 26.27K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.66
• Revenue Growth: -31.28%
• EPS Growth: 42.94%
• Country: US
• Employees: 383
• Sector: Industrials
• Sector Strength: 72
• Industry: Waste Management
• EPS (TTM): 0.99
• Shares Outstanding: 2,320,216
• 10 Day Avg. Volume: 22,779
• 30 Day Avg. Volume: 26,268
• PEG Ratio: 0.18
• Price to Book (P/B): 20.13
• Price to Sales (P/S): 5.46
• P/FCF Ratio: -2.87
• Enterprise Value/Market Cap: 1.37
• Enterprise Value/Revenue: 0.96
• Enterprise Value/Gross Profit: 3.74
• Enterprise Value/Ebitda: -0.38
• 1Y Price Target: $14.00
• Price Target Upside: 16.67% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: $13.00 ▲(8.33% Upside)

The score is held down primarily by weak financial performance (large losses, cash burn, and negative equity) and bearish technicals (below key moving averages with negative MACD). Corporate events provide some support via added capital and strategic positioning, but valuation support is limited due to negative earnings and no dividend yield.

Positive Factors

Proprietary gas fermentation technology

LanzaTech’s proprietary gas fermentation platform converts industrial carbon streams into fuels and chemicals. This technology moat supports licensing, JV adoption and long-term differentiation versus commodity incumbents, underpinning durable revenue potential as decarbonization demand grows.

Licensing and partnership revenue model

A licensing plus JV model reduces direct capital intensity while generating upfront fees and recurring royalties. Strategic partnerships spread implementation risk, align industrial partners to scale deployment, and create repeatable, contract‑backed cash streams over the medium term.

Larger stake in LanzaJet strengthens SAF positioning

Increasing ownership in LanzaJet gives LanzaTech deeper exposure to commercial sustainable aviation fuel (SAF) production and potential vertical synergies. The stake supports access to downstream markets and commercialization pathways as SAF demand and regulatory support expand over coming years.

Negative Factors

Sharp revenue decline and large operating losses

A steep, persistent revenue drop with extreme negative EBIT margins indicates the underlying model is not scaling profitably. Without sustained revenue recovery or structural cost improvements, profitability remains distant and operational viability depends on external funding.

Negative shareholders' equity

Negative equity erodes the balance sheet cushion, limits borrowing capacity, and elevates dilution or restructuring risk. For a capital‑intensive technology company, this weakens strategic optionality, increases refinancing pressure, and constrains long‑term growth investments.

Persistent operating cash burn

Consistent negative OCF and worsening free cash flow signal continued reliance on external capital to fund operations and projects. This cash burn heightens dilution risk, limits self‑funding for commercial rollouts, and pressures the company's ability to execute long‑term growth plans.

LanzaTech Global Business Overview & Revenue Model

Company Description

LanzaTech Global, Inc. operates as a nature-based carbon refining company in the United States and internationally. The company transforms waste carbon into the chemical building blocks for consumer goods, such as sustainable fuels, fabrics, and packaging. LanzaTech Global, Inc. was founded in 2005 and is headquartered in Skokie, Illinois.

How the Company Makes Money

LanzaTech generates revenue through several key channels. Primarily, the company earns money by licensing its technology to industries looking to reduce carbon emissions and produce sustainable fuels and chemicals. The licensing agreements typically involve upfront fees and ongoing royalties based on the volume of products produced using LanzaTech's technology. Additionally, LanzaTech engages in joint ventures and partnerships with various corporations in the energy and chemical sectors, which can result in revenue-sharing agreements. These partnerships often involve collaborative projects where LanzaTech's technology is integrated into existing operations, leading to additional income. Furthermore, LanzaTech may also receive funding from government grants and incentives aimed at promoting clean technology and carbon reduction initiatives, contributing to its overall financial health.

LanzaTech Global Financial Statement Overview

Summary

Very weak fundamentals: sharp TTM revenue decline, deeply negative profitability (EBIT margin around -219%), ongoing negative operating and free cash flow (about -$78M OCF), and negative equity in TTM, which elevates financing and dilution risk despite lower debt versus 2024.

Income Statement

TTM (Trailing-Twelve-Months) revenue declined sharply versus the prior year (down ~164%), and profitability remains deeply negative. Gross margin fell to ~26% in TTM from ~48% in 2024, while operating losses are very large (EBIT margin around -219% in TTM), indicating the cost structure is not scaling with revenue. While losses narrowed versus 2024 at the net income line, the business is still far from break-even and earnings volatility remains high.

Balance Sheet

Leverage and capitalization are a key concern. Stockholders’ equity moved from positive in 2024 to negative in TTM, which weakens financial flexibility and raises dilution/refinancing risk. Total debt is lower in TTM than 2024, but the company still has meaningful debt against a thin/negative equity base, and returns on equity are materially negative—consistent with ongoing losses.

Cash Flow

Cash generation is weak, with operating cash flow negative across all periods and still significantly negative in TTM (about -$78M). Free cash flow is also consistently negative and deteriorated further in TTM versus 2024, implying continued cash burn to support operations and investment. The cash flow profile does not yet show a clear path to self-funding, increasing reliance on external capital.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	39.88M	49.59M	62.63M	37.34M	25.46M	18.35M
Gross Profit	10.23M	23.62M	17.65M	9.06M	10.23M	6.76M
EBITDA	-99.76M	-103.34M	-100.93M	-70.94M	-47.21M	-36.55M
Net Income	-75.86M	-137.73M	-134.10M	-76.36M	-46.69M	-37.71M
Balance Sheet
Total Assets	99.29M	174.68M	241.62M	176.86M	150.87M	118.98M
Cash, Cash Equivalents and Short-Term Investments	19.63M	55.87M	120.74M	83.05M	343.40K	60.49M
Total Debt	30.00M	81.89M	19.94M	7.41M	5.33M	10.59M
Total Liabilities	104.27M	161.24M	127.15M	605.58M	11.61M	35.79M
Stockholders Equity	-4.98M	13.45M	114.47M	-428.72M	139.26M	83.19M
Cash Flow
Free Cash Flow	-81.17M	-94.37M	-105.85M	-95.44M	-48.34M	-46.38M
Operating Cash Flow	-78.37M	-89.06M	-97.30M	-84.70M	-42.59M	-39.27M
Investing Cash Flow	25.58M	28.35M	-57.91M	-10.69M	-5.75M	-6.59M
Financing Cash Flow	-148.16M	30.21M	148.19M	50.55M	116.02M	44.73M

LanzaTech Global Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 12.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LNZA, the sentiment is Negative. The current price of 12 is below the 20-day moving average (MA) of 13.56, below the 50-day MA of 13.71, and below the 200-day MA of 22.92, indicating a bearish trend. The MACD of -0.63 indicates Positive momentum. The RSI at 36.23 is Neutral, neither overbought nor oversold. The STOCH value of 15.17 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LNZA.

LanzaTech Global Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MEG	68 Neutral	$787.32M	-23.61	-4.17%	―	22.77%	44.73%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
QRHC	51 Neutral	$44.87M	-1.93	-44.35%	―	-9.25%	-189.37%
AWX	47 Neutral	$10.61M	59.00	0.47%	―	-4.84%	-81.73%
AQMS	47 Neutral	$14.22M	-0.05	-187.08%	―	―	-106.93%
LNZA	41 Neutral	$27.84M	-0.32	-696.09%	―	-31.28%	42.94%

LanzaTech Global Corporate Events

LanzaTech Global Raises Capital and Simplifies Capital Structure

On January 21, 2026, LanzaTech Global, Inc. raised $20 million in gross proceeds through a private investment in public equity (PIPE), selling 4 million common shares at $5.00 per share to a group of new and existing institutional investors and issuing an additional 510,968 bonus shares; the largest investor also gained the right to appoint a non-voting observer to the company’s board. The same day, the company implemented a revised certificate of designation that triggered the mandatory conversion of $40 million of Series A Convertible Senior Preferred Stock into 3,250,322 common shares, amended a previously agreed warrant so it can be exercised any time until December 31, 2026 before automatic cashless exercise, and secured a waiver extending its deadline to register warrant shares, collectively simplifying its capital structure and expanding its common equity base through unregistered transactions under Securities Act exemptions.

The most recent analyst rating on (LNZA) stock is a Hold with a $14.00 price target. To see the full list of analyst forecasts on LanzaTech Global stock, see the LNZA Stock Forecast page.

LanzaTech Boosts LanzaJet Stake, Deepening Sustainable Aviation Focus

On December 22, 2025, LanzaTech Global announced that its ownership in sustainable aviation fuel specialist LanzaJet, Inc. had risen to 53% from about 36%, after receiving final tranches of LanzaJet common stock on December 16, 2025 under a pre‑existing investment agreement that required no new capital outlay and leaves governance and control unchanged. The move follows the successful commissioning and production of ASTM‑certified sustainable fuels, including SPK and renewable diesel, at LanzaJet’s Freedom Pines Fuels facility in Georgia—the first commercial‑scale plant to make jet fuel from ethanol—and underscores LanzaTech’s strategic focus on scaling ethanol‑to‑jet technology, leveraging diverse waste‑ and agriculture‑based feedstocks to cut aviation emissions, bolster energy security and rural economies, while LanzaJet continues to face the capital‑intensive, regulation‑sensitive realities of the sustainable aviation fuel market and remains accounted for as an equity‑method, non‑controlling investment.

The most recent analyst rating on (LNZA) stock is a Sell with a $14.50 price target. To see the full list of analyst forecasts on LanzaTech Global stock, see the LNZA Stock Forecast page.