CVW Sustainable Royalties (CVW) AI Stock Analysis

• Market Cap: C$161.90M
• Dividend Yield: N/A
• Average Volume (3M): 60.15K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.94
• Revenue Growth: 309.75%
• EPS Growth: -13.83%
• Country: CA
• Employees: 5
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.01
• Shares Outstanding: 155,672,160
• 10 Day Avg. Volume: 35,575
• 30 Day Avg. Volume: 60,152
• PEG Ratio: 17.51
• Price to Book (P/B): 5.84
• Price to Sales (P/S): 260.01
• P/FCF Ratio: -36.72
• 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: 47 Neutral
• Price Target: C$0.87 ▲(5.73% Upside)
• Action: Upgraded Date: 12/30/25
• Date: Action: Upgraded 12/30/25

The score is held down primarily by weak operating performance and persistent cash burn, despite a relatively strong low-debt balance sheet. Technical indicators also lean bearish, while the latest corporate update provides some positive project/partner momentum but does not offset ongoing losses.

Positive Factors

Low Leverage / Strong Balance Sheet

A near-zero debt load and ~ $18.3M of equity provide structural financial flexibility, lowering insolvency risk and enabling the company to fund pilots or secure partner financing without immediate heavy interest burdens. This supports multi-month runway for commercialization efforts.

Very High Gross Margins

Exceptionally high gross margins indicate the proprietary process yields high recoverable value versus direct costs, suggesting strong unit economics potential. If the company can scale and reduce fixed operating overhead, these margins underpin durable profitability once commercialization advances.

Partnership & Financing Momentum

Reported partner milestones and targeted capital deployment are structural positives: they can de-risk pilot-to-commercial transitions, accelerate deployments, and enable royalty or licensing revenue models. Such progress builds credibility with operators and supports scalable revenue streams.

Negative Factors

Persistent Cash Burn

Sustained negative operating and free cash flow (multi-year, accelerating) erodes equity and forces external financing or delayed projects. Over months this increases dilution risk, restricts ability to self-fund commercial rollouts, and raises execution risk for scaling technology deployments.

Weak Operating Profitability

Despite high gross margins, fixed operating costs overwhelm revenue and keep EBIT/EBITDA deeply negative. Structural inability to cover overhead without meaningful revenue scale prolongs dependence on capital markets and risks delaying the path to sustained profitability absent step-change commercial wins.

Very Small, Declining Revenue Base

A very small and declining revenue run-rate signals commercialization is still unproven and product-market fit is not firmly established. With minimal internal headcount and low sales scale, the firm remains highly dependent on partners and external capital to execute projects and generate durable revenues.

CVW Sustainable Royalties Business Overview & Revenue Model

Company Description

CVW CleanTech Inc. develops technologies for the recovery of heavy minerals and bitumen in Canada. Its Value from Waste technology is used to recover bitumen, solvents, minerals, and water from oil sands waste tailings. The company has interests in oil sands mining projects. The company was formerly known as Titanium Corporation Inc. and changed its name to CVW CleanTech Inc. in March 2022. CVW CleanTech Inc. is headquartered in Calgary, Canada.

How the Company Makes Money

CVW CleanTech Inc generates revenue primarily through the sale of recovered minerals and bitumen extracted from oil sands tailings using its proprietary technology. The company may form strategic partnerships with oil sands operators to implement its recovery processes directly at mining sites, providing a share of the recovered materials as compensation. This business model not only contributes to environmental sustainability but also creates a recurring revenue stream based on the volume of materials recovered and sold. CVW CleanTech's earnings are influenced by factors such as the market prices of minerals and bitumen, as well as the efficiency and adoption rate of its recovery technology among oil sands producers.

CVW Sustainable Royalties Financial Statement Overview

Summary

Financials are mixed: the balance sheet is a strength with minimal leverage and sizable equity, but operating performance is weak with declining TTM revenue, deeply negative EBIT/EBITDA, and very large net losses. Cash flow is also a key concern, with negative operating cash flow and negative free cash flow (about -$3.2M TTM) indicating ongoing and accelerating cash burn.

Income Statement

TTM (Trailing-Twelve-Months) revenue declined versus the latest annual period (about $0.29M vs. $0.44M), and profitability remains weak with a very large net loss relative to sales (net margin around -14.6% TTM vs. about -8.8% in 2024). Gross margin is exceptionally high (~96–98%), but operating costs overwhelm the gross profit, keeping EBIT/EBITDA deeply negative and suggesting the business model has not yet scaled to cover fixed expenses.

Balance Sheet

The balance sheet is a relative strength: debt is minimal (debt-to-equity near zero across periods) and equity remains sizable (~$18.3M TTM). That said, persistent losses are eroding shareholder returns (return on equity is negative, around -22% TTM), which is a key risk if losses continue for an extended period.

Cash Flow

Cash generation is weak with negative operating cash flow and negative free cash flow in both TTM (about -$3.2M) and 2024 (about -$3.1M). Free cash flow deterioration is notable TTM (large negative growth), indicating cash burn is accelerating. While free cash flow tracks net income closely (roughly 1x), it is because both are meaningfully negative, reinforcing that the company is not yet self-funding.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	285.76K	435.42K	0.00	0.00	0.00	0.00
Gross Profit	275.57K	426.11K	-4.93K	0.00	-5.45K	-2.05K
EBITDA	-4.17M	-3.83M	-3.69M	-4.40M	-2.32M	-3.42M
Net Income	-4.18M	-3.85M	-3.70M	-13.31M	-2.27M	-3.35M
Balance Sheet
Total Assets	18.73M	19.79M	6.29M	7.07M	616.83K	2.71M
Cash, Cash Equivalents and Short-Term Investments	3.14M	5.20M	6.00M	6.96M	407.78K	2.66M
Total Debt	2.88K	4.33K	5.54K	0.00	0.00	0.00
Total Liabilities	466.87K	403.13K	679.26K	326.86K	1.50M	1.37M
Stockholders Equity	18.27M	19.39M	5.61M	6.74M	-881.68K	1.33M
Cash Flow
Free Cash Flow	-3.21M	-3.08M	-1.96M	-3.37M	-2.24M	-2.41M
Operating Cash Flow	-3.20M	-3.08M	-1.95M	-3.36M	-2.24M	-2.41M
Investing Cash Flow	-4.92K	-14.01M	-8.56K	-6.63K	41.40K	2.01M
Financing Cash Flow	150.01K	16.28M	1.00M	9.92M	-44.98K	0.00

CVW Sustainable Royalties Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.82
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:CVW, the sentiment is Positive. The current price of 0.82 is below the 20-day moving average (MA) of 0.96, below the 50-day MA of 0.88, and below the 200-day MA of 0.94, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 59.92 is Neutral, neither overbought nor oversold. The STOCH value of 80.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:CVW.

CVW Sustainable Royalties Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
CCCM	51 Neutral	C$112.87M	-49.21	-4.33%	―	―	10.13%
ELBM	51 Neutral	C$95.52M	-1.58	-49.48%	―	―	62.30%
PML	50 Neutral	C$241.54M	-221.79	-4.35%	―	―	-45.61%
PGE	49 Neutral	C$130.57M	-4.80	-120.57%	―	―	-89.71%
CVW	47 Neutral	C$161.90M	-36.10	-32.57%	―	309.75%	-13.83%
AMY	45 Neutral	C$25.90M	-15.13	-2.06%	―	―	93.75%

CVW Sustainable Royalties Corporate Events

CVW Sustainable Royalties Strikes Growth-Focused Royalty Deal with Ice Micro-Factory Firm Relocalize

CVW Sustainable Royalties Inc. has entered into a gross revenue royalty agreement and strategic partnership with Relocalize Inc., committing an initial US$4.0 million in upfront capital in exchange for a 25% royalty on gross revenues from Relocalize’s first two commercial ice micro-factory facilities and a 2% royalty on the next eight facilities, plus an option to invest up to US$22.5 million in 13 additional sites. The deal gives CVW Royalties long-term exposure to Relocalize’s decentralized, low-footprint ice production model—already proven in a two-year pilot and now being scaled through a first commercial unit for Winn-Dixie in Florida—and fits the company’s strategy of building a sizeable pipeline of sustainable, commodity-linked royalty streams, while providing Relocalize with catalytic growth capital to accelerate plant deployments in North America and support its expansion plans through 2028.

The most recent analyst rating on (TSE:CVW) stock is a Hold with a C$0.87 price target. To see the full list of analyst forecasts on CVW CleanTech Inc stock, see the TSE:CVW Stock Forecast page.

CVW Sustainable Royalties Reports Q3 2025 Results and Advances Clean Tech Initiatives

CVW Sustainable Royalties Inc. reported its third-quarter 2025 financial results, highlighting a strategic deployment of capital to enhance its royalty business and technology advancement. Despite a net loss of $1.0 million for the quarter, the company remains focused on expanding its clean technology royalty opportunities, with several projects in advanced stages of review. The company’s partner, Northstar Clean Technologies, achieved a significant milestone in processing waste asphalt shingles and secured substantial financing to support its commercial operations, indicating positive momentum in the clean technology sector.