New Sources Energy NV (NSE) AI Stock Analysis

• Market Cap: €6.02M
• Dividend Yield: N/A
• Average Volume (3M): 144.47K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.09
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: NL
• Employees: N/A
• Sector: Energy
• Sector Strength: 52
• Industry: Renewable Utilities
• EPS (TTM): N/A
• Shares Outstanding: 162,730,100
• 10 Day Avg. Volume: 176,241
• 30 Day Avg. Volume: 144,466
• PEG Ratio: -0.02
• Price to Book (P/B): 6.16
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -10.81
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: €0.04 ▲(16.67% Upside)
• Action: Reiterated Date: 01/07/26
• Date: Action: Reiterated 01/07/26

The score is primarily held down by very weak financial performance (no revenue history, widening losses, and negative operating/free cash flow). Technicals are modestly supportive (neutral RSI and positive MACD with price above longer-term averages), but valuation remains unattractive due to continued losses and no dividend support.

Positive Factors

Equity recovery / stronger capital base

The shift to positive equity (~€200k in 2024) materially reduces immediate insolvency risk and gives management more flexibility to fund operations or raise capital on better terms. This stabilization is a durable improvement in the balance sheet over the next several months.

Reduced cash burn versus prior year

A meaningful narrowing of operating cash outflows signals improving cost control or operational execution, lowering near-term funding needs. If sustained, this enhances runway and reduces dilution risk, making cash management a more durable strength through 2–6 months.

Positioned in Renewable Utilities

Operating in renewable utilities aligns the company with long-term structural tailwinds from energy transition and decarbonization policies. This sector exposure supports persistent demand potential and strategic relevance for investors and partners over the medium term.

Negative Factors

No revenue history

Lack of any reported revenue over multiple years means the company has not demonstrated product-market fit or a repeatable business model. That structural deficiency impedes scalable margins and makes long-term viability dependent on successful commercialization or new contracts.

Widening net losses

Rapidly growing net losses materially erode shareholder value and reduce retention of capital for reinvestment. Persistently negative profitability undermines sustainable operations and increases the probability of recurring external financing needs or dilution.

Negative free cash flow and funding reliance

Consistent negative FCF indicates operations do not generate internal financing, creating structural dependence on debt or equity raises. That reliance can dilute existing holders, increase leverage, or constrain growth investments, posing a durable governance and execution risk.

New Sources Energy NV Business Overview & Revenue Model

Company Description

New Sources Energy N.V. develops, operates, exploits, and invests in projects that generates electricity using renewable energy sources. The company was formerly known as Management Share NV and changed its name to New Sources Energy N.V. in July 2011. New Sources Energy N.V. is headquartered in Amersfoort, the Netherlands.

How the Company Makes Money

New Sources Energy NV Financial Statement Overview

Summary

Financials are very weak: zero revenue across 2020–2024, widening losses (net loss ~-904k in 2024), and consistently negative EBIT. Cash flow remains negative (OCF ~-106k and FCF ~-114k in 2024). A key positive is equity recovering to positive (~200k in 2024), but ongoing losses and cash burn keep risk elevated.

Income Statement

The income statement is very weak: the company reports zero revenue across all provided annual periods (2020–2024), while losses have widened materially (net loss of about -904k in 2024 vs. -92k in 2022). Profitability is consistently negative (negative gross profit in 2022 and 2024, and negative EBIT every year), indicating no visible operating leverage or path to sustainable earnings in the current data.

Balance Sheet

The balance sheet shows mixed progress but remains fragile. Equity has improved from negative levels in 2021–2022 to positive in 2023–2024 (about 200k in 2024), which is a notable stabilization. However, leverage has increased with debt rising to ~91k in 2024 (debt-to-equity ~0.46), and returns on equity remain deeply negative in 2023–2024 due to ongoing losses.

Cash Flow

Cash flow quality is weak despite some improvement in cash burn. Operating cash flow remains negative each year (about -106k in 2024 vs. -330k in 2023), and free cash flow is also negative (about -114k in 2024). While cash outflow narrowed versus 2023, cash generation still does not cover the company’s net losses, implying continued reliance on external funding or balance-sheet capacity.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	-1.00K	0.00	-4.00K	0.00	0.00
EBITDA	-746.25K	-892.00K	3.00K	-5.00K	-88.00K	-116.00K
Net Income	-1.06M	-904.00K	-418.00K	-92.00K	-88.00K	-125.00K
Balance Sheet
Total Assets	176.00K	509.00K	137.00K	111.00K	103.00K	105.00K
Cash, Cash Equivalents and Short-Term Investments	5.00K	501.00K	25.00K	17.00K	2.00K	5.00K
Total Debt	191.00K	91.00K	0.00	79.00K	57.00K	0.00
Total Liabilities	416.00K	309.00K	45.00K	216.00K	116.00K	31.00K
Stockholders Equity	-240.00K	200.00K	92.00K	-106.00K	-13.00K	74.00K
Cash Flow
Free Cash Flow	-354.00	-114.00K	-330.00K	-7.00K	-61.00K	-128.00K
Operating Cash Flow	-346.00	-106.00K	-330.00K	-7.00K	-61.00K	-128.00K
Investing Cash Flow	-32.00	-8.00K	0.00	0.00	0.00	0.00
Financing Cash Flow	374.00	590.00K	338.00K	22.00K	58.00K	0.00

New Sources Energy NV Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
NSE	46 Neutral	€6.02M	-4.11	―	―	―	―