BluMetric Environmental Inc (TSE:BLM)
:BLM
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BluMetric Environmental
(BLM)
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Rating:48Neutral
Price Target:
C$0.84
▼(-46.03% Downside)
Action:Reiterated
Date:05/30/26
The score is held back primarily by deteriorating profitability (operating/net losses and sharp margin compression) despite strong revenue growth and only moderate leverage. Technicals also weigh heavily, with the stock in a clear downtrend and weak momentum. Positive operating and free cash flow provide some support, but cash-flow volatility and the lack of earnings-based valuation support (negative P/E) keep the overall score below average.
Positive Factors
Revenue Growth
TTM revenue up roughly 3.4x versus the prior annual period signals durable demand for BluMetric's consulting, remediation and water services. Strong top-line expansion expands repeat-work potential and backlog, improving scale economics and supporting medium-term margin recovery if execution holds.
Negative Factors
Loss-Making Operations
Persistent negative operating profit and a negative net margin reduce retained earnings and limit internal funding for growth. If profitability does not normalize, BluMetric may face recurring dilution or constrained reinvestment, weakening long-term return prospects for shareholders.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
TTM revenue up roughly 3.4x versus the prior annual period signals durable demand for BluMetric's consulting, remediation and water services. Strong top-line expansion expands repeat-work potential and backlog, improving scale economics and supporting medium-term margin recovery if execution holds.
Read all positive factors
BluMetric Environmental (BLM) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$46.78M
Dividend YieldN/A
Average Volume (3M)43.92K
Price to Earnings (P/E)―
Beta (1Y)1.02
Revenue Growth45.21%
EPS Growth-13342.86%
CountryCA
Employees220
SectorGeneral
Sector StrengthN/A
IndustryWaste Management
Share Statistics
EPS (TTM)-0.09
Shares Outstanding55,030,437
10 Day Avg. Volume24,640
30 Day Avg. Volume43,923
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)3.10
Price to Sales (P/S)0.78
P/FCF Ratio38.74
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.06
Revenue Forecast (FY)C$62.33M
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 environ...
How the Company Makes Money
BluMetric primarily makes money by selling professional services on a contract basis. Key revenue streams generally include: (1) Environmental consulting and engineering fees from project work such as environmental site assessments, remediation pl...
BluMetric Environmental Earnings Call Summary
Earnings Call Date:Jan 29, 2025
(Q4-2024)
| % Change Since: |
Next Earnings Date:Aug 20, 2026
Earnings Call Sentiment Positive
The earnings call reflects a positive sentiment with improvements in gross margins, a record backlog, and stable revenue indicating strong operational resilience. Despite some challenges in the military market and increased operating expenses, the company is well-positioned with a strong financial base and growth in other sectors like mining.Positive Updates
Record Backlog and Revenue Stability
BluMetric achieved a record backlog, setting up for modest revenue growth in 2024. Revenues were stable at $35.1 million for the fiscal year, with the fourth-quarter revenue at $10.3 million compared to $9.9 million in the same period of 2022.
Negative Updates
Decline in Military Market Revenue
Military market revenues declined 13% year-over-year, primarily due to reduced activity on shipboard reverse osmosis systems, with the contract awaiting a replacement.
Read all updates
Q4-2024 Updates
Positive
Negative
Record Backlog and Revenue Stability
BluMetric achieved a record backlog, setting up for modest revenue growth in 2024. Revenues were stable at $35.1 million for the fiscal year, with the fourth-quarter revenue at $10.3 million compared to $9.9 million in the same period of 2022.
Read all positive updates
Company Guidance
During the BluMetric Environmental Inc. Q4 2023 earnings call, the executives shared various key metrics and insights. The company reported stable revenues for the fiscal year at $35.1 million, with the fourth quarter's revenues at $10.3 million, up from $9.9 million in the same period the previous year. A notable improvement was seen in the gross margin, which increased to 26% in Q4 from 18% in Q4 2022, attributed to project mix and delayed revenue recognition. EBITDA for the fiscal year was $1.7 million, with a significant Q4 increase to $1.1 million, compared to $0.3 million the previous year. The net income for the fiscal year was $0.5 million, with an increase in Q4 to $0.7 million. The company maintained a net cash balance of $2.2 million as of September 30, 2023, and a strong working capital position of $11.1 million. BluMetric also highlighted a record backlog, which positions them for modest revenue growth in 2024, and emphasized their continued focus on expanding their agile water systems both domestically and internationally.BluMetric Environmental Financial Statement Overview
Summary
Income Statement
36
Negative
Balance Sheet
63
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 71.26M | 62.58M | 34.84M | 35.08M | 34.32M | 35.48M |
| Gross Profit | 15.84M | 15.16M | 13.98M | 7.59M | 7.56M | 9.42M |
| EBITDA | -211.00K | 1.98M | 1.46M | 1.78M | 2.24M | 5.23M |
| Net Income | -3.82M | -2.30M | 64.00K | 506.72K | 1.32M | 3.73M |
Balance Sheet | ||||||
| Total Assets | 63.16M | 37.09M | 37.99M | 20.05M | 19.67M | 17.42M |
| Cash, Cash Equivalents and Short-Term Investments | 2.86M | 2.11M | 3.65M | 3.04M | 4.91M | 4.73M |
| Total Debt | 5.10M | 8.55M | 7.60M | 2.80M | 2.15M | 2.60M |
| Total Liabilities | 29.43M | 21.35M | 24.27M | 7.86M | 8.30M | 7.56M |
| Stockholders Equity | 33.74M | 15.74M | 13.72M | 12.19M | 11.37M | 9.86M |
Cash Flow | ||||||
| Free Cash Flow | 1.54M | 1.26M | -579.00K | -799.89K | 1.11M | 3.46M |
| Operating Cash Flow | 1.97M | 1.63M | 57.00K | -462.95K | 1.20M | 3.65M |
| Investing Cash Flow | -12.25M | -991.00K | -1.50M | -336.94K | -83.38K | -191.52K |
| Financing Cash Flow | 10.89M | -2.19M | 2.07M | -1.07M | -929.66K | -1.21M |
BluMetric Environmental Technical Analysis
Negative
1.56
Price Trends
0.92
Negative
1.11
Negative
1.24
Negative
Market Momentum
-0.04
Positive
47.13
Neutral
47.61
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 0.88, above the 50-day MA of 0.92, and above the 200-day MA of 1.24, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 47.13 is Neutral, neither overbought nor oversold. The STOCH value of 47.61 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
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | C$40.04M | 11.09 | 69.72% | 3.74% | 33.42% | 46.63% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | C$46.78M | -12.15 | -12.79% | ― | 45.21% | -13342.86% | |
48 Neutral | C$38.76M | -75.47 | -17.79% | ― | -24.05% | 88.61% | |
44 Neutral | C$36.42M | -2.27 | 307.55% | ― | -7.33% | -42.15% | |
42 Neutral | C$26.08M | -7.87 | 5297.73% | ― | 112.23% | 20.43% |
* General Sector Average
TSE:BLM
BluMetric Environmental
0.85
-0.79
-48.17%
TSE:BQE
BQE Water
75.00
22.00
41.51%
TSE:ECM
Ecolomondo Corporation
0.12
-0.06
-34.29%
TSE:VCI
Vitreous Glass
6.30
0.88
16.21%
TSE:YES
CHAR Technologies
0.29
0.05
20.83%
TSE:ROOF
Northstar Clean Technologies
0.22
-0.15
-40.54%
BluMetric Environmental Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
BluMetric Reaffirms Leadership and Expands Stock Option Plan at Annual Meeting
Positive
Apr 9, 2026
BluMetric Environmental has reappointed Scott MacFabe as chair of the board while he continues to serve as chief executive officer, reinforcing leadership continuity as the company pursues growth opportunities in its WaterTech and environmental co...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
BluMetric Buys Whitteker Environmental to Boost Recurring Water Testing Revenue
Positive
Apr 2, 2026
BluMetric Environmental has acquired all issued and outstanding shares of Whitteker Environmental Services, an Ontario-based provider of water and wastewater system operations and testing that supports drinking water management and regulatory comp...
Business Operations and Strategy
BluMetric Wins $7.5 Million Military Shipboard Water Contract
Positive
Mar 24, 2026
BluMetric Environmental has secured a $7.5 million contract to supply multiple shipboard reverse osmosis desalination plants to a leading Canadian shipbuilder for military applications. The systems, which emphasize reliability, operational simplic...
Business Operations and Strategy
BluMetric Wins US$1.5 Million Florida Wastewater Deal, Weighs U.S. Capacity Expansion
Positive
Mar 9, 2026
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 ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.