BluMetric Environmental (BLM) AI Stock Analysis

• Market Cap: C$57.32M
• Dividend Yield: N/A
• Average Volume (3M): 43.92K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.14
• Revenue Growth: 63.49%
• EPS Growth: -133.70%
• Country: CA
• Employees: 220
• Sector: General
• Sector Strength: N/A
• Industry: Waste Management
• EPS (TTM): 0.00
• Shares Outstanding: 54,587,147
• 10 Day Avg. Volume: 24,640
• 30 Day Avg. Volume: 43,923
• PEG Ratio: <0.01
• Price to Book (P/B): 3.10
• Price to Sales (P/S): 0.78
• P/FCF Ratio: 38.74
• 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): 0.06
• Revenue Forecast (FY): C$62.61M

• Rating: 44 Neutral
• Price Target: C$1.00 ▼(-35.90% Downside)
• Action: Reiterated Date: 02/27/26
• Date: Action: Reiterated 02/27/26

The score is driven primarily by weakened financial performance: margins have compressed, profitability is negative, and recent operating/free cash flow are both negative despite revenue growth. Technicals also lean bearish with the price below major moving averages and a slightly negative MACD. Valuation is constrained by current losses (negative P/E) and no indicated dividend yield support.

Positive Factors

Top-line Growth

Sustained revenue growth to ~$68.9M (TTM) indicates persistent demand for environmental and water services. Over 2-6 months this supports utilization of technical staff, backlog conversion and scale benefits, providing a durable base to recover margins if execution stabilizes.

Diversified Fee-for-Service Model

A mix of time-and-materials consulting, fixed-fee projects and water infrastructure work creates recurring, contract-backed revenue streams. Government and private clients reduce concentration risk and give multi-period visibility, supporting cash flow predictability when project delivery is consistent.

Manageable Leverage

Moderate leverage (D/E ~0.54) preserves financial flexibility versus highly leveraged peers. This balance sheet capacity allows the firm to finance project working capital, bid on larger contracts or absorb short-term volatility without immediate solvency pressure, aiding medium-term recovery plans.

Negative Factors

Negative Profitability

Persistent operating losses and a negative net margin erode retained earnings and limit reinvestment. Over several months this constrains hiring, R&D and bidding competitiveness, and necessitates clear margin-recovery or external financing to restore sustainable returns.

Weak Cash Generation

Negative operating and free cash flow signal cash burn from operations and working-capital strain. This reduces the company's ability to self-fund projects or absorb delays, increasing reliance on lenders or equity and elevating execution risk until operating cash flow turns sustainably positive.

Gross Margin Compression

Sharp gross margin decline suggests adverse pricing, cost inflation or unfavorable project mix. Structurally lower margins impair long-term profitability even if revenue grows, requiring either pricing recovery, cost control or higher-margin contract wins to restore durable profitability.

BluMetric Environmental Business Overview & Revenue Model

Company Description

BluMetric Environmental Inc. provides solution-oriented consultation, design, products, and construction services to clients with environmental issues in Canada and internationally. The company offers professional services in the fields of environmental geosciences and engineering, industrial hygiene, occupational health and safety, renewable energy, water and waste water treatment, and environmental contracting and management. Its professional services include environmental permitting and compliance, environmental reporting, environmental site assessments, geomatics and data management, industrial hygiene, management systems, physical hydrogeology and clean water, property assessments and environmental due diligence, waste management, and waterpower and hydraulic structures, as well as occupational health, and safety and ergonomics. The company also provides SROD - shipboard reverse osmosis desalinator systems; and ROWPU- reverse osmosis water purification units that produce drinking water from nearly water source. The company serves commercial and industrial customers, military, mining, and governments. BluMetric Environmental Inc. is headquartered in Ottawa, Canada.

How the Company Makes Money

BluMetric primarily makes money by delivering fee-for-service professional work and project execution under contracts. Key revenue streams generally include: (1) Environmental consulting and engineering services billed on a time-and-materials or fixed-fee basis (e.g., environmental assessments, monitoring and compliance programs, remediation planning/oversight, and occupational health and safety services); (2) Project-based revenues tied to implementing solutions for clients, where the company earns contract value through the delivery of defined scopes of work, milestones, and deliverables; and (3) Water-related solutions work, where revenues are generated from engineering/design and project services associated with water and wastewater needs. A meaningful portion of earnings can be influenced by contract wins and renewals (often multi-month to multi-year), client mix (government vs. industrial/commercial), utilization of technical staff, and the timing/scale of larger projects. Specific breakdowns of revenue by segment, margins, or named partnerships: null.

BluMetric Environmental Financial Statement Overview

Summary

Revenue is growing (TTM ~$68.9M, ~10% growth), but operating profit is negative with ongoing net losses (net margin ~-3.7%) and notable gross margin compression (~24% recently vs ~40% in FY2024). The balance sheet is moderately levered (debt-to-equity ~0.54) but returns are negative, and cash flow is a key weakness with negative TTM operating cash flow (~-$1.1M) and free cash flow (~-$1.6M).

Income Statement

TTM (Trailing-Twelve-Months) revenue rose to ~$68.9M with strong reported growth (~10%), but profitability has deteriorated meaningfully: operating profit is negative and net losses persist (net margin ~-3.7%). Gross margin has also compressed versus earlier years (roughly ~24% recently vs ~40% in FY2024), indicating weaker pricing/project mix and/or higher costs. Earlier years showed healthy profitability (notably FY2021–FY2022), but the current trajectory is unfavorable despite top-line expansion.

Balance Sheet

Leverage appears manageable with debt-to-equity around ~0.54 in the most recent periods, suggesting the company is not overly debt-loaded. However, returns on shareholders’ equity are currently negative (driven by net losses), and the equity base has fluctuated materially across periods, which raises questions around stability of capital structure and earnings quality. Overall, the balance sheet provides some flexibility, but profitability needs to recover to fully support it.

Cash Flow

Cash generation has turned weak: TTM (Trailing-Twelve-Months) operating cash flow is negative (about -$1.1M) and free cash flow is also negative (about -$1.6M), a sharp reversal from positive free cash flow in FY2025 annual. While cash flow has been volatile across years, the recent step-down—along with sharply negative free cash flow growth—signals elevated execution/working-capital risk and reduced financial flexibility until operating cash flow normalizes.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	62.58M	34.84M	35.08M	34.32M	35.48M
Gross Profit	15.16M	13.98M	7.59M	7.56M	9.42M
EBITDA	1.98M	1.46M	1.78M	2.24M	5.23M
Net Income	-2.30M	64.00K	506.72K	1.32M	3.73M
Balance Sheet
Total Assets	37.09M	37.99M	20.05M	19.67M	17.42M
Cash, Cash Equivalents and Short-Term Investments	2.11M	3.65M	3.04M	4.91M	4.73M
Total Debt	8.55M	7.60M	2.80M	2.15M	2.60M
Total Liabilities	21.35M	24.27M	7.86M	8.30M	7.56M
Stockholders Equity	15.74M	13.72M	12.19M	11.37M	9.86M
Cash Flow
Free Cash Flow	1.26M	-579.00K	-799.89K	1.11M	3.46M
Operating Cash Flow	1.63M	57.00K	-462.95K	1.20M	3.65M
Investing Cash Flow	-991.00K	-1.50M	-336.94K	-83.38K	-191.52K
Financing Cash Flow	-2.19M	2.07M	-1.07M	-929.66K	-1.21M

BluMetric Environmental Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.56
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:BLM, the sentiment is Negative. The current price of 1.56 is above the 20-day moving average (MA) of 1.18, above the 50-day MA of 1.32, and above the 200-day MA of 1.37, indicating a bearish trend. The MACD of -0.09 indicates Positive momentum. The RSI at 36.07 is Neutral, neither overbought nor oversold. The STOCH value of 25.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:BLM.

BluMetric Environmental Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VCI	81 Outperform	C$42.01M	13.05	69.72%	3.74%	45.73%	30.99%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
YES	49 Neutral	C$32.75M	-10.14	-17.79%	―	-27.40%	23.40%
BLM	44 Neutral	C$57.32M	-243.45	-12.79%	―	63.49%	-133.70%
ECM	41 Neutral	C$38.56M	-5.91	5297.73%	―	135.68%	68.99%
ROOF	41 Neutral	C$30.65M	-3.11	307.55%	―	12.06%	-52.13%

BluMetric Environmental Corporate Events

BluMetric Wins US$1.5 Million Florida Wastewater Deal, Weighs U.S. Capacity Expansion

BluMetric Environmental has secured a US$1.5 million contract to supply a membrane bioreactor wastewater treatment plant for a private housing development in Florida, designed initially to treat 150,000 gallons per day with potential expansion to 300,000 gallons. The system will be manufactured by its WaterTech USA division in Gainesville and is expected to be delivered and commissioned within 12 months, including remote monitoring and ongoing supply of spare parts and consumables.

Management highlighted that wastewater treatment is an expanding part of BluMetric’s WaterTech business and sees U.S. housing developments and plants of this size as key drivers of recurring base-load revenue as the company scales. In response to rising demand and a significant year-over-year increase in U.S. project proposals, BluMetric is in active discussions to potentially double its Gainesville manufacturing footprint from 25,000 to 50,000 square feet, which would increase capacity to serve higher U.S.-based demand.

The most recent analyst rating on (TSE:BLM) stock is a Sell with a C$0.96 price target. To see the full list of analyst forecasts on BluMetric Environmental stock, see the TSE:BLM Stock Forecast page.

BluMetric Posts Record Q1 Revenue on DS Consultants Deal and Defense Demand

BluMetric reported record first-quarter fiscal 2026 revenue of $20.3 million, up 45% year over year, driven by its acquisition of DS Consultants, production of Rheinmetall Mission Ready Water systems, and strong mining sector activity, though gross margin compressed to 28% and the company posted a small net loss of $67,000 as operating expenses rose. The completion of the DS Consultants acquisition and a $15 million equity financing are expected to bolster scale, support progressive EBITDA contributions from the acquired business, and position BluMetric to capitalize on secular tailwinds in defense, mining, and water infrastructure, underpinning its strategy for profitable growth despite near-term integration and margin pressures.

The most recent analyst rating on (TSE:BLM) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on BluMetric Environmental stock, see the TSE:BLM Stock Forecast page.

BluMetric to Release Q1 2026 Results and Host Investor Call

BluMetric Environmental said it will release its financial results for the first quarter of fiscal 2026, covering the period ended December 31, 2025, after markets close on February 25, 2026. The update will provide investors and other stakeholders with the latest view of the company’s performance in its WaterTech and environmental consulting operations.

The company will host an investor conference call on February 26, 2026, at 9:00 a.m. Eastern Time to discuss the quarterly results, with both pre-registration and direct dial-in options available. A replay of the call will be posted on BluMetric’s investor relations website, supporting continued engagement with shareholders and analysts following the earnings release.

The most recent analyst rating on (TSE:BLM) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on BluMetric Environmental stock, see the TSE:BLM Stock Forecast page.

BluMetric Doubles Revenue in 2025 but Takes Profit Hit on Strategic WaterTech Project

BluMetric reported a transformative fiscal 2025, with revenue surging 80% year over year to $62.6 million and working capital and net cash positions improving, but profitability deteriorating as gross margin fell to 29% and the company swung to a $2.3 million net loss, partly due to cost overruns on the St. Kitts Bird Rock seawater reverse osmosis project. Management framed the margin pressure as a strategic decision to strengthen a key client relationship in the Caribbean—where it has since secured its first operations and maintenance contract—while highlighting strong growth from the full consolidation of Gemini Water and Military WaterTech deliveries, rapid expansion in commercial and industrial revenue, and post‑year‑end moves including the acquisition of DS Consultants and a $15 million equity raise that position the company for further growth and integration in fiscal 2026.

The most recent analyst rating on (TSE:BLM) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on BluMetric Environmental stock, see the TSE:BLM Stock Forecast page.

BluMetric Wins $5 Million Caribbean WaterTech and O&M Contracts

BluMetric Environmental has secured two Caribbean contracts worth a combined CA$5 million, underscoring its growing presence in regional water infrastructure. The company will supply a seawater reverse osmosis and membrane bioreactor system for a private island in the Exumas, Bahamas, in a CA$3.4 million project that integrates design, engineering, manufacturing, and service for both potable water and wastewater treatment. In addition, BluMetric has signed a CA$1.6 million one-year operations and maintenance agreement for its desalination plant in St. Kitts and Nevis, marking its first recurring O&M contract in the Caribbean and advancing its strategy to build a more stable, service-based revenue stream alongside its deployed WaterTech systems.

The most recent analyst rating on (TSE:BLM) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on BluMetric Environmental stock, see the TSE:BLM Stock Forecast page.

BluMetric Secures $5 Million Caribbean WaterTech and O&M Contracts

BluMetric Environmental has secured two contracts in the Caribbean worth a combined CA$5 million, underscoring its growing presence in regional water infrastructure. The company will provide a complete WaterTech solution for a private island in the Exumas, Bahamas, including a seawater reverse osmosis system capable of producing 320,000 gallons per day of potable water and a membrane bioreactor to treat 120,000 gallons per day of wastewater, in a project valued at CA$3.4 million. In addition, BluMetric has signed a CA$1.6 million, one-year operations and maintenance agreement for its desalination plant in St. Kitts and Nevis, which is expected to be renewed annually and marks its first recurring O&M contract in the Caribbean. Together, these wins highlight the company’s effort to pair its deployed WaterTech systems with recurring service contracts, reinforcing its long-term client relationships and positioning in the sustainable water and wastewater solutions market.

The most recent analyst rating on (TSE:BLM) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on BluMetric Environmental stock, see the TSE:BLM Stock Forecast page.