Belgravia Capital International Inc (BLGV) AI Stock Analysis

• Market Cap: C$3.44M
• Dividend Yield: N/A
• Average Volume (3M): 616.41K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.17
• Revenue Growth: 19.82%
• EPS Growth: -51.61%
• Country: CA
• Employees: 9
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): -0.03
• Shares Outstanding: 137,720,840
• 10 Day Avg. Volume: 891,522
• 30 Day Avg. Volume: 616,415
• PEG Ratio: 0.06
• Price to Book (P/B): -10.90
• Price to Sales (P/S): -6.37
• P/FCF Ratio: -5.16
• 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: 42 Neutral
• Price Target: C$0.02 ▼(-20.00% Downside)

The score is primarily weighed down by weak financial performance (TTM losses, cash burn, and higher leverage with recent equity volatility) and bearish technicals (below key moving averages with negative MACD and very low RSI). Valuation provides limited offset because the company is loss-making (negative P/E) and has no stated dividend yield.

Positive Factors

Business model focus

The firm's asset-management/investment mandate is an asset-light, scalable model that can generate recurring management or performance-linked gains. Over months this allows leverage of deal flow and expertise rather than heavy fixed-cost expansion, supporting long-term operational scalability.

Top-line growth trend

A nearly 20% reported revenue growth rate suggests the company is expanding underlying activity or deal flow. If sustained, top-line growth improves the odds of reaching profitable scale and strengthens competitive positioning despite current distortions in reported margins.

Improving free cash flow trend

TTM improvement in free cash flow growth signals the company may be moving toward stabilizing cash generation. Sustained improvement reduces reliance on external funding, lowers dilution risk, and materially improves financial flexibility over a multi-month horizon if the trend continues.

Negative Factors

Sustained net losses

A material net loss of roughly -$4.2M undermines retained capital and constrains the firm's ability to reinvest or absorb shocks. Persistent losses erode investor equity and make it harder to build reliable profitability without structural changes to margins or revenue mix.

Ongoing cash burn

Meaningful negative operating and free cash flow (~-$2.3M) signals ongoing cash burn that depletes reserves and requires external financing or asset sales. Over months this raises execution risk and increases the probability of dilution or restrictive financing terms.

High leverage and balance-sheet volatility

Elevated debt relative to equity and episodes of negative equity reduce financial flexibility and raise solvency risk. High leverage increases interest and covenant pressure, limiting strategic options and heightening the chance of distress or dilutive recapitalization if operational recovery stalls.

Belgravia Capital International Inc Business Overview & Revenue Model

Company Description

Belgravia Hartford Capital Inc. focuses on incubation, investments, and royalty and management services businesses. The company offers services to support the development of early stage companies; and merchant banking services. It also invests in various private and public companies with a focus on resources, technology, and healthcare sectors. The company was formerly known as Belgravia Capital International Inc. and changed its name to Belgravia Hartford Capital Inc. in December 2019. Belgravia Hartford Capital Inc. is based in Kelowna, Canada.

How the Company Makes Money

Belgravia Capital International Inc generates revenue primarily through its investments and holdings in various sectors. The company earns money by acquiring, developing, and managing a diverse portfolio of companies, with a focus on creating value through strategic partnerships, operational improvements, and financial restructuring. Revenue streams may include capital gains from the sale of investments, dividends, and interest income from portfolio companies, as well as management fees from subsidiaries. The company's financial performance is influenced by the success of its investments, market conditions, and the strategic execution of its business development plans.

Belgravia Capital International Inc Financial Statement Overview

Summary

Overall financials appear stressed: TTM shows sizable net losses and meaningful negative operating/free cash flow, alongside a material increase in leverage (debt materially above equity) and recent balance-sheet volatility (including negative equity in 2024).

Income Statement

TTM (Trailing-Twelve-Months) results remain deeply loss-making, with negative revenue and a large net loss (about -4.2M), indicating weak underlying earnings power. Reported revenue growth is strong in TTM, but the base is distorted by negative revenue and margins, so it does not translate into improved profitability. Earlier years show inconsistent performance, including a one-time-looking profit in 2020 followed by sustained losses, which undermines earnings quality and trend confidence.

Balance Sheet

Leverage increased materially in TTM (debt of ~8.9M vs. equity of ~4.0M; debt-to-equity ~2.23x), reducing financial flexibility. While equity is positive in TTM, the company has a recent history of negative equity (2024), highlighting balance-sheet volatility. Returns on equity are unfavorable in the most recent period (negative in TTM), and the sharp swing in capital structure year-over-year is a key risk factor.

Cash Flow

Cash generation is weak: TTM (Trailing-Twelve-Months) operating cash flow and free cash flow are both meaningfully negative (about -2.3M), implying ongoing cash burn. Free cash flow growth is positive in TTM, but it is improving from a still-negative level, not turning sustainably positive. Cash flow has been inconsistent historically (positive in 2021/2023 but negative in 2020/2022/2024/TTM), which increases execution and funding risk.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	-314.65K	-580.20K	-638.38K	-6.29M	699.70K	1.44M
Gross Profit	-1.22M	-820.79K	-1.11M	-7.48M	-2.64M	112.47K
EBITDA	-4.17M	-1.74M	-2.23M	-9.78M	-4.09M	-2.07M
Net Income	-4.19M	-1.79M	-2.22M	-9.87M	-4.09M	6.20M
Balance Sheet
Total Assets	13.60M	582.63K	1.24M	3.15M	12.79M	15.53M
Cash, Cash Equivalents and Short-Term Investments	13.53M	357.20K	1.19M	2.97M	12.66M	15.35M
Total Debt	8.94M	230.29K	0.00	0.00	0.00	0.00
Total Liabilities	9.59M	921.69K	864.18K	556.15K	279.51K	184.89K
Stockholders Equity	4.01M	-339.06K	376.78K	2.60M	12.51M	15.35M
Cash Flow
Free Cash Flow	-2.33M	-715.73K	52.35K	-33.54K	424.16K	-2.48M
Operating Cash Flow	-2.32M	-713.38K	52.35K	-33.54K	426.18K	-2.48M
Investing Cash Flow	-3.54M	-2.35K	0.00	3.25M	-2.02K	1.93M
Financing Cash Flow	6.03M	997.79K	0.00	-128.79K	-348.22K	0.00

Belgravia Capital International Inc Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.03
• 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 TSE:BLGV, the sentiment is Negative. The current price of 0.03 is below the 20-day moving average (MA) of 0.04, below the 50-day MA of 0.04, and below the 200-day MA of 0.11, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 42.68 is Neutral, neither overbought nor oversold. The STOCH value of <0.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:BLGV.

Belgravia Capital International Inc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
ZC	67 Neutral	C$8.62M	0.57	75.06%	―	486.23%	478.94%
PDV	66 Neutral	C$6.60M	3.39	42.23%	7.52%	-54.61%	273.14%
AAB	56 Neutral	C$4.02M	-0.35	-178.43%	―	82.65%	-70.88%
IDK	51 Neutral	C$8.01M	-0.30	-55.73%	―	53.55%	-289.42%
QCA	48 Neutral	C$4.68M	-1.08	-37.19%	―	26.42%	-1217.14%
BLGV	42 Neutral	C$3.44M	-0.71	-226.11%	―	19.82%	-51.61%

Belgravia Capital International Inc Corporate Events

Belgravia Hartford Retires US$1.5 Million Credit Line in Bitcoin, Tightens Bitcoin Treasury Strategy

Belgravia Hartford Capital Inc. has fully repaid its US$1.5 million line of credit to Round13 Digital Asset Fund by returning 14.21448 Bitcoin held under a Bitcoin Standard loan agreement, a move that removes a debt overhang, reduces loan-related risk and costs, and strengthens its balance sheet while advancing its Bitcoin treasury strategy. Following the repayment, Belgravia holds 68.72854407 Bitcoin, of which 26.350911 are unencumbered, and it confirmed that a separate US$5 million convertible debenture used to purchase 42.3776327 Bitcoin remains in place, with amended terms that could trigger an accelerated conversion to equity if the share price sustains a specified trading level, potentially reshaping its capital structure and deepening its positioning within the Bitcoin-focused investment space.

The most recent analyst rating on (TSE:BLGV) stock is a Hold with a C$0.03 price target. To see the full list of analyst forecasts on Belgravia Capital International Inc stock, see the TSE:BLGV Stock Forecast page.

Belgravia Hartford Signs LOI with DelphX for First QCS Bitcoin Treasury Protection Deal

Belgravia Hartford Capital Inc. has signed a non-binding letter of intent with DelphX Capital Markets Inc. to collaborate on executing the first commercial QCS transaction, which would make Belgravia the inaugural corporate purchaser of a QCS collateralized put option aimed at protecting and preserving corporate Bitcoin treasury holdings. Under the proposed arrangement, Belgravia is also expected to provide advisory and structuring support for DelphX’s QCS launch, including work on documentation, compliance and onboarding with the placement agent, a move that could strengthen Belgravia’s positioning in Bitcoin-focused risk management solutions while showcasing DelphX’s proprietary collateralized put and reference note products to institutional users, subject to regulatory approvals, market conditions and definitive agreements.

Belgravia Hartford Confirms Bitcoin Holdings, Sets Trial Date and Eyes Insider-Backed Financing

Belgravia Hartford Capital Inc. has reaffirmed that it continues to hold 83 Bitcoin and maintains a US$12.2 million royalty tied to the 2017 sale of the Ochoa asset, while a jury trial date has been set for February 17–18, 2026, in its audit and inspection dispute with Polynatura Corp. The company also outlined a potential short‑term insider financing plan under which certain insiders may sell shares in the market and use the proceeds to advance loans for working capital, structured at a 3% annual interest rate and potentially convertible into equity subject to Canadian Securities Exchange approval; year‑to‑date, President and CEO Mehdi Azodi has already advanced C$123,000 on similar terms, highlighting the firm’s reliance on insider support to preserve its Bitcoin position and fund operations.

Belgravia Hartford Capital Inc. Announces AGM Results and Strategic Appointments

Belgravia Hartford Capital Inc. announced the results of its Annual General Meeting, where shareholders showed strong support for the company’s strategic direction. Patrick Wood, a seasoned capital markets professional, was elected to the board, and MNP LLP was appointed as the auditor. The AGM results empower the board and management to confidently pursue their 2026 strategic agenda, reinforcing the company’s position in the tech and finance sectors. The election of Patrick Wood is expected to bring valuable expertise and networks to Belgravia, benefiting the company and its shareholders.

Belgravia Hartford Joins Future Investment Initiative to Boost Global Profile

Belgravia Hartford Capital Inc. has joined the Future Investment Initiative (FII) Institute and participated in the 9th FII Conference in Riyadh, Saudi Arabia. This membership and participation are strategic moves to enhance Belgravia’s international profile and foster global relationships. The conference provided a platform for Belgravia to engage with global leaders and explore opportunities related to its Bitcoin Treasury and investment strategy, supporting its objective to expand its network and advance value creation initiatives.