BluMetric Environmental (BLM) AI Stock Analysis

• Market Cap: C$73.04M
• Dividend Yield: N/A
• Average Volume (3M): 43.92K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.98
• Revenue Growth: 63.49%
• EPS Growth: -133.70%
• Country: CA
• Employees: 220
• Sector: General
• Sector Strength: N/A
• Industry: Waste Management
• EPS (TTM): -0.08
• Shares Outstanding: 54,509,148
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: C$1.50 ▼(-3.85% Downside)

The score is held back primarily by the 2025 swing to operating and net losses and weak technical trend (price below key moving averages with negative MACD). Offsetting factors include improved 2025 revenue momentum and better operating/free cash flow, while valuation is also constrained by negative earnings and no stated dividend yield.

Positive Factors

Revenue Momentum

Sustained top-line acceleration indicates improving demand for BluMetric’s services and stronger project wins. Over a 2–6 month horizon this supports backlog growth, steadier utilization of technical staff, and creates a foundation for repeat business and scaling operating leverage if maintained.

Improving Cash Generation

Clear positive operating and free cash flow restores internal funding capacity and reduces reliance on external financing. Durable FCF allows funding of working capital for multi-month projects, modest investment in capabilities, and gives management optionality to shore up margins or pursue accretive opportunities.

Diversified Fee-for-Service Model

A mix of environmental consulting, remediation and water infrastructure services across government and private clients reduces single-market exposure. Multi-month to multi-year contracts and technical services create recurring revenue characteristics and long sales cycles that support durable revenue visibility.

Negative Factors

Profitability Deterioration

A move to operating and net losses is structurally significant: persistent negative profitability erodes retained earnings, limits reinvestment, and can constrain hiring or bid competitiveness. If margins do not recover, the company may need lasting cost restructurings or pricing corrections.

Rising Leverage

An elevated and rising debt burden reduces financial flexibility for a project-driven firm. Increased leverage heightens sensitivity to cash flow volatility from timing of project milestones and can limit the ability to pursue larger contracts or invest in growth without additional financing.

Margin Pressure / Delivery Costs

Falling gross margins point to structural pressure from pricing, client mix, or higher execution costs. Persistent margin compression reduces operating resilience, requires sustained efficiency gains or pricing power restoration, and undermines long-term return on capital if not addressed.

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 generates revenue primarily through its consulting and engineering services, which are billed on a project basis. Key revenue streams include contracts for environmental assessments, site remediation projects, and ongoing monitoring services. The company also earns money from specialized training programs and software solutions related to environmental management. Significant partnerships with government agencies and private sector clients enhance its revenue potential, as they often lead to long-term contracts and repeat business in the growing field of environmental sustainability.

BluMetric Environmental Financial Statement Overview

Summary

Revenue momentum improved sharply in 2025 and cash flow turned clearly positive, but profitability deteriorated with a swing to operating and net losses and weaker gross margin. Balance sheet leverage is still manageable, though debt has risen and returns turned negative.

Income Statement

Revenue accelerated sharply in 2025 (up 12.5% after a flat 2024), showing improved top-line momentum. However, profitability deteriorated meaningfully: 2025 swung to an operating loss and a net loss, with margins turning negative after being modestly positive in 2022–2024. Gross margin also fell versus 2024, suggesting weaker pricing/mix and/or higher delivery costs. Overall, growth is improving, but earnings quality and consistency have weakened materially in the most recent year.

Balance Sheet

Leverage is moderate, with debt-to-equity around ~0.54 in 2025, but it has risen notably from 2022–2023 levels, reducing financial flexibility. Equity has grown over time, and the capital structure remains manageable for the sector, but the 2025 loss drove return on equity negative. In short: balance sheet is acceptable, though the recent step-up in debt and weaker returns are key watch items.

Cash Flow

Cash generation improved in 2025, with operating cash flow and free cash flow turning clearly positive after weak/negative outcomes in 2023–2024, and free cash flow rising sharply year-over-year. That said, operating cash flow remains small relative to revenue, and cash conversion versus earnings is mixed given net losses in 2025 and uneven cash performance across prior years. Overall, the latest year shows better cash discipline, but consistency is still developing.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	62.58M	62.58M	34.84M	35.08M	34.32M	35.48M
Gross Profit	15.16M	15.16M	13.98M	7.59M	7.56M	9.42M
EBITDA	1.96M	1.98M	1.46M	1.78M	2.24M	5.23M
Net Income	-2.30M	-2.30M	64.00K	506.72K	1.32M	3.73M
Balance Sheet
Total Assets	37.09M	37.09M	37.99M	20.05M	19.67M	17.42M
Cash, Cash Equivalents and Short-Term Investments	2.11M	2.11M	3.65M	3.04M	4.91M	4.73M
Total Debt	8.55M	8.55M	7.60M	2.80M	2.15M	2.60M
Total Liabilities	21.35M	21.35M	24.27M	7.86M	8.30M	7.56M
Stockholders Equity	15.74M	15.74M	13.72M	12.19M	11.37M	9.86M
Cash Flow
Free Cash Flow	977.00K	1.26M	-579.00K	-799.89K	1.11M	3.46M
Operating Cash Flow	1.63M	1.63M	57.00K	-462.95K	1.20M	3.65M
Investing Cash Flow	-991.00K	-991.00K	-1.50M	-336.94K	-83.38K	-191.52K
Financing Cash Flow	-2.19M	-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 1.43, above the 50-day MA of 1.42, and above the 200-day MA of 1.39, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 39.58 is Neutral, neither overbought nor oversold. The STOCH value of 44.02 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	86 Outperform	C$44.92M	14.31	69.72%	3.74%	45.73%	30.99%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
BLM	49 Neutral	C$73.04M	-22.15	-3.01%	―	63.49%	-133.70%
YES	42 Neutral	C$36.76M	-15.19	-419.23%	―	-27.40%	23.40%
ECM	41 Neutral	C$38.56M	-15.89	-1787.47%	―	135.68%	68.99%
ROOF	41 Neutral	C$33.71M	-2.23	―	―	12.06%	-52.13%

BluMetric Environmental Corporate Events

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.

BluMetric Completes $15 Million Offering to Fund Strategic Acquisition

BluMetric Environmental Inc. has successfully closed a $15 million brokered offering, issuing over 11 million common shares at $1.30 each. The proceeds will fund the acquisition of DS Consultants Ltd., a firm specializing in engineering consulting services, and support general corporate purposes. This strategic acquisition aligns with BluMetric’s disciplined approach to growth and is expected to enhance its market position by integrating DS Consultants’ expertise in geotechnical engineering and environmental services.

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 Expands with DS Consultants Acquisition and $15M Equity Offering

BluMetric Environmental Inc. has announced the acquisition of DS Consultants Inc., a firm specializing in geotechnical engineering and environmental services, for up to $22.5 million. This acquisition is expected to bolster BluMetric’s expertise and position in the Greater Toronto Area, enhancing its service offerings in the built environment. Additionally, BluMetric is conducting a $15 million equity offering to finance the acquisition and support working capital, with the offering expected to close on December 9, 2025.

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 Environmental Secures $50 Million Shelf Prospectus for Strategic Growth

BluMetric Environmental Inc. has filed a final base shelf prospectus, allowing it to qualify the distribution of up to $50 million in securities over a 25-month period. This strategic move enables the company to access new capital or issue securities for potential acquisitions, aligning with its financial needs and market conditions. Additionally, BluMetric has granted options for 30,000 common shares to a board member, reflecting its ongoing commitment to corporate governance.

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.