Base Carbon, Inc. (BCBN) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: N/A
• Average Volume (3M): N/A
• Price to Earnings (P/E): ―
• Beta (1Y): N/A
• Revenue Growth: -100.00%
• EPS Growth: -2.47%
• Country: CA
• Employees: 13
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Asset Management
• EPS (TTM): 0.03
• Shares Outstanding: N/A
• 10 Day Avg. Volume: N/A
• 30 Day Avg. Volume: N/A
• PEG Ratio: <0.01
• Price to Book (P/B): 0.34
• Price to Sales (P/S): 1.22
• P/FCF Ratio: 2.10
• 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: 54 Neutral
• Price Target: ―

The score is held back primarily by weak and volatile financial performance (sharp TTM revenue decline, large net loss, and negative TTM operating/free cash flow), partially offset by a very strong, low-debt balance sheet. Positive corporate developments support the outlook, while missing technical and valuation inputs keep those components neutral.

Positive Factors

Strong Balance Sheet

A strong balance sheet with minimal debt provides financial flexibility and reduces solvency risk, supporting long-term stability and growth potential.

Strategic Project Expansions

Advancing to new project phases with cash generation indicates strategic growth and enhances the company's ability to capitalize on carbon credit markets.

CORSIA Approval for Rwanda Project

CORSIA approval allows alignment with international standards, potentially increasing demand and pricing for carbon credits, strengthening market position.

Negative Factors

Revenue Decline

A significant decline in revenue and large net losses indicate challenges in maintaining market competitiveness and profitability, impacting long-term growth.

Negative Cash Flow

Negative cash flow reflects operational inefficiencies and may limit the company's ability to invest in growth opportunities, affecting financial health.

Volatile Earnings

Earnings volatility undermines predictability and investor confidence, complicating strategic planning and potentially affecting long-term valuation.

Base Carbon, Inc. Business Overview & Revenue Model

Company Description

Base Carbon, Inc. (BCBN) is a leading firm in the carbon management sector, focused on providing innovative solutions for reducing carbon footprints and enhancing sustainability efforts. The company operates within the environmental services industry, offering a range of products and services that include carbon offset projects, carbon credits trading, and consultancy for businesses aiming to achieve their carbon neutrality goals. BCBN's mission is to drive the transition towards a low-carbon economy through strategic partnerships and cutting-edge technology.

How the Company Makes Money

Base Carbon, Inc. generates revenue primarily through the sale of carbon credits, which are created through its various carbon offset projects. These projects often involve reforestation, renewable energy initiatives, and other environmentally beneficial activities that capture or reduce greenhouse gas emissions. In addition to selling carbon credits, BCBN earns income from consultancy services, where they advise businesses on sustainability practices and help them develop strategies for carbon reduction. The company also benefits from partnerships with governments, non-profit organizations, and private sector clients, which can enhance its project funding and expand its market reach.

Base Carbon, Inc. Financial Statement Overview

Summary

Base Carbon, Inc. shows growth potential with significant revenue increase and strong gross profit margin. However, persistent net losses and negative profitability ratios highlight challenges in achieving sustainable profitability. The balance sheet is solid with low leverage, and cash flow has improved, but consistency is needed.

Income Statement

Base Carbon, Inc. shows significant volatility in its income statement. The company experienced a drastic increase in revenue from $0 in 2021 to $28.2 million in 2024, a positive growth trajectory. However, the net profit margin is negative, with a net loss in 2024, indicating profitability challenges. The gross profit margin is strong at 86.4% in 2024, suggesting efficient cost management, but negative EBITDA highlights operational inefficiencies.

Balance Sheet

The balance sheet reflects a solid equity base with an equity ratio of 91.9% in 2024, indicating financial stability and low leverage. The debt-to-equity ratio remains exceptionally low, signaling minimal leverage risk. However, the return on equity is negative due to the net loss, highlighting profitability concerns despite strong equity.

Cash Flow

The cash flow statement reveals a substantial improvement in free cash flow, turning positive in 2024 from negative in previous years, showcasing improved cash management. The operating cash flow to net income ratio is favorable due to positive operating cash flow, but the overall cash flow stability is hindered by prior negative trends and fluctuations in financing activities.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	13.69M	28.22M	6.42M	0.00	0.00
Gross Profit	10.51M	24.38M	4.20M	-1.63M	-46.55K
EBITDA	-11.05M	-26.62M	104.29M	-7.62M	-1.30M
Net Income	-14.23M	-28.91M	98.27M	-15.47M	-1.53M
Balance Sheet
Total Assets	111.75M	112.07M	141.24M	44.09M	52.72M
Cash, Cash Equivalents and Short-Term Investments	19.41M	23.66M	1.40M	12.94M	47.05M
Total Debt	30.57K	63.22K	110.17K	0.00	0.00
Total Liabilities	8.86M	9.06M	6.55M	233.53K	342.38K
Stockholders Equity	102.89M	103.01M	134.69M	37.66M	50.88M
Cash Flow
Free Cash Flow	-988.36K	16.43M	-8.02M	-29.57M	-922.85K
Operating Cash Flow	-979.12K	16.43M	-7.86M	-29.56M	-922.85K
Investing Cash Flow	-1.09M	-88.12K	-1.78M	-6.00M	-5.13M
Financing Cash Flow	-3.56M	-2.94M	-1.89M	3.57M	53.23M

Base Carbon, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
BCBN	54 Neutral	―	―	-13.01%	―	-100.00%	-2.47%
LCE	53 Neutral	C$77.68M	-35.80	-4.48%	―	―	27.68%
GIP	45 Neutral	C$63.74M	-3.34	-23.88%	―	-19.22%	11.82%
ECM	41 Neutral	C$45.36M	-16.82	-1787.47%	―	135.68%	68.99%

Base Carbon, Inc. Corporate Events

Base Carbon Inc. Reports Q3 2025 Results with Strategic Project Expansions

Base Carbon Inc. reported its third-quarter 2025 financial results, highlighting significant developments in its carbon credit projects. The Rwanda Cookstoves project transitioned to the VM0050 methodology, enhancing its eligibility for key compliance markets, while the Vietnam Household Devices project entered its second phase, generating substantial cash proceeds. The company also expanded its India ARR project, increasing potential tree planting to 20 million. Financially, Base Carbon saw a slight increase in EPS and maintained a strong asset base, indicating stable growth and strategic advancements in its operations.