BluMetric Environmental Inc (TSE:BLM)
:BLM
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BluMetric Environmental
(BLM)
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Rating:44Neutral
Price Target:
C$0.87
▼(-44.04% Downside)
Action:ReiteratedDate: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
Revenue Growth
Consistent top-line expansion (TTM revenue near $68.9M, ~10% growth) reflects durable demand for environmental and water services. Over 2–6 months this trend supports utilization and backlog conversion, providing a foundation to recover margins if project mix and cost control improve.
Negative Factors
Margin Compression & Profitability Deterioration
Significant gross margin compression and ongoing net losses signal structural pressure on project economics, whether from pricing, cost inflation, or adverse mix. Sustained margin weakness undermines the company’s ability to invest in growth, generate returns, and convert revenue into durable profit without strategic changes.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Consistent top-line expansion (TTM revenue near $68.9M, ~10% growth) reflects durable demand for environmental and water services. Over 2–6 months this trend supports utilization and backlog conversion, providing a foundation to recover margins if project mix and cost control improve.
Read all positive factors
BluMetric Environmental (BLM) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$51.06M
Dividend YieldN/A
Average Volume (3M)43.92K
Price to Earnings (P/E)―
Beta (1Y)1.08
Revenue Growth63.49%
EPS Growth-133.70%
CountryCA
Employees220
SectorGeneral
Sector StrengthN/A
IndustryWaste Management
Share Statistics
EPS (TTM)0.00
Shares Outstanding54,904,293
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 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 f...
BluMetric Environmental Earnings Call Summary
Earnings Call Date:Jan 29, 2025
(Q4-2024)
| % Change Since: |
Next Earnings Date:May 21, 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
38
Negative
Balance Sheet
62
Positive
Cash Flow
31
Negative
| 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
Negative
1.56
Price Trends
1.15
Negative
1.29
Negative
1.32
Negative
Market Momentum
-0.07
Negative
41.63
Neutral
28.57
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 0.97, above the 50-day MA of 1.15, and above the 200-day MA of 1.32, indicating a bearish trend. The MACD of -0.07 indicates Negative momentum. The RSI at 41.63 is Neutral, neither overbought nor oversold. The STOCH value of 28.57 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | C$41.44M | 13.05 | 69.72% | 3.74% | 45.73% | 30.99% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | C$36.09M | -10.14 | -17.79% | ― | -27.40% | 23.40% | |
44 Neutral | C$51.06M | -243.45 | -12.79% | ― | 63.49% | -133.70% | |
41 Neutral | C$37.42M | -5.91 | 5297.73% | ― | 135.68% | 68.99% | |
41 Neutral | C$32.22M | -3.11 | 307.55% | ― | 12.06% | -52.13% |
* General Sector Average
TSE:BLM
BluMetric Environmental
0.93
-0.16
-14.68%
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29.86%
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TSE:ROOF
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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 ...
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
BluMetric Posts Record Q1 Revenue on DS Consultants Deal and Defense Demand
Positive
Feb 26, 2026
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 gros...
Financial Disclosures
BluMetric to Release Q1 2026 Results and Host Investor Call
Neutral
Feb 20, 2026
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 stakeholder...
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
BluMetric Doubles Revenue in 2025 but Takes Profit Hit on Strategic WaterTech Project
Neutral
Jan 28, 2026
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 ...
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.