Cymat Technologies (CYM) AI Stock Analysis

• Market Cap: C$9.53M
• Dividend Yield: N/A
• Average Volume (3M): 118.58K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.15
• Revenue Growth: -25.74%
• EPS Growth: 2.28%
• Country: CA
• Employees: 11
• Sector: General
• Sector Strength: N/A
• Industry: Manufacturing - Metal Fabrication
• EPS (TTM): -0.01
• Shares Outstanding: 100,337,330
• 10 Day Avg. Volume: 20,030
• 30 Day Avg. Volume: 118,582
• PEG Ratio: 0.12
• Price to Book (P/B): -2.03
• Price to Sales (P/S): 2.58
• P/FCF Ratio: -5.85
• 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: 40 Underperform
• Price Target: C$0.09 ▼(-25.00% Downside)

The score is primarily constrained by very weak financial performance (deep losses, cash burn, and a stressed balance sheet with negative equity). Technicals are only neutral and do not offset the fundamental risk, while valuation remains pressured due to negative earnings and no indicated dividend yield support.

Positive Factors

Proprietary product technology

Cymat's proprietary aluminum foam technology represents a durable competitive asset: specialized manufacturing know‑how and product forms for energy absorption and lightweight structures are hard to replicate. This supports long-term differentiation, OEM qualification, and potential licensing revenue.

End‑market fit in transportation & industrial

Products serve structural, safety and lightweighting needs in transportation and industrial markets—secular trends (vehicle light‑weighting, safety/regulatory focus) bolster sustained demand. This market alignment supports multi‑quarter adoption cycles and repeatable sales to OEMs and integrators.

Supply agreements revenue model

Revenue driven by commercial supply arrangements and longer‑term supply agreements creates a contractable, per‑unit sales model. Such arrangements provide predictable volume lanes and stronger customer relationships, aiding durable revenue visibility once operational scale and margins normalize.

Negative Factors

Stressed balance sheet

Negative equity and meaningful debt on a small asset base create structural leverage risk. This materially limits financial flexibility, increases refinancing and covenant exposure, and constrains the company's ability to fund capex or absorb operational setbacks without dilutive or costly financing.

Ongoing cash burn

Sustained negative operating and free cash flows indicate continuing cash burn, forcing reliance on external capital or balance sheet support. Over months this reduces runway, increases financing pressure, and risks operational disruption if positive cash generation is not restored.

Structural unprofitability

Declining revenue with a negative gross margin and extremely large net losses point to structural profitability issues—likely pricing, cost structure or utilization problems. Without durable margin recovery, sustainable profitability and reinvestment capacity remain unlikely over the medium term.

Cymat Technologies Business Overview & Revenue Model

Company Description

Cymat Technologies Ltd., a materials technology company, manufactures and sells stabilized aluminum foam products worldwide. The company provides architectural materials under the Alusion brand name; and automotive and blast mitigation products under the SmartMetal brand name. It serves defense and military, automotive and transportation, architectural, and other application. The company was incorporated in 2006 and is based in Mississauga, Canada.

How the Company Makes Money

Cymat Technologies generates revenue primarily through the sale of its Alusion® stabilized aluminum foam products to various industries, including construction, automotive, aerospace, and defense. The company capitalizes on its proprietary technology by licensing its manufacturing processes to partners, which provides a secondary revenue stream. Additionally, Cymat engages in strategic partnerships with companies within these sectors to enhance its market reach and product development, enabling it to secure contracts and expand its customer base. The company's earnings are also bolstered by ongoing research and development initiatives that aim to innovate and improve its product offerings, allowing it to meet the evolving needs of its clients.

Cymat Technologies Financial Statement Overview

Summary

Financials indicate severe strain: TTM revenue declined (-4.2%), gross margin turned negative (~-2.4%), losses are extremely large versus sales (net margin ~-222%), and both operating cash flow and free cash flow are materially negative (~-$2.75M and ~-$2.77M). The balance sheet is also stressed with negative equity (~-$3.8M) and meaningful debt (~$5.8M) on a small asset base, limiting flexibility and increasing refinancing/liquidity risk.

Income Statement

TTM (Trailing-Twelve-Months) results show deep and worsening profitability pressure: revenue declined (-4.2% growth) and gross profit turned slightly negative (gross margin ~-2.4%). Losses remain very large versus sales (net margin ~-222%), with negative EBIT and EBITDA margins as well. While the prior annual period (2025) had positive gross margin (~13.3%), the business is still structurally unprofitable with persistent net losses across the history provided.

Balance Sheet

The balance sheet is highly stressed with negative shareholders’ equity in TTM (about -$3.8M) and elevated debt (~$5.8M) relative to a small asset base (~$3.7M). Negative equity makes leverage risk materially higher and limits financial flexibility. Debt has also increased versus the most recent annual period (2025), reinforcing refinancing and liquidity sensitivity if operating performance does not improve.

Cash Flow

Cash generation is weak: TTM (Trailing-Twelve-Months) operating cash flow and free cash flow are both meaningfully negative (about -$2.75M and -$2.77M, respectively), implying continued cash burn. A positive free cash flow growth figure is a modest improvement signal, but it is from a negative base and does not change that the company is funding ongoing losses and operations with external capital or balance-sheet resources.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2021	Dec 2021
Income Statement
Total Revenue	3.71M	1.62M	3.05M	4.15M	3.12M
Gross Profit	494.39K	-412.85K	-270.42K	2.12M	795.48K
EBITDA	-1.91M	-3.34M	-5.45M	252.17K	-4.23M
Net Income	-3.37M	-4.27M	-6.05M	-543.00K	-4.75M
Balance Sheet
Total Assets	2.76M	3.96M	4.16M	6.58M	6.17M
Cash, Cash Equivalents and Short-Term Investments	354.03K	56.27K	324.05K	5.02M	2.47M
Total Debt	5.58M	2.94M	2.28M	1.38M	1.02M
Total Liabilities	7.49M	6.78M	4.77M	3.71M	3.83M
Stockholders Equity	-4.73M	-2.81M	-612.07K	2.88M	2.34M
Cash Flow
Free Cash Flow	-1.64M	-2.26M	-3.49M	401.48K	-4.53M
Operating Cash Flow	-1.60M	-2.23M	-2.46M	432.92K	-4.32M
Investing Cash Flow	-37.52K	-31.32K	-1.03M	-31.44K	-534.54K
Financing Cash Flow	1.93M	1.99M	1.18M	4.36M	2.30M

Cymat Technologies Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.12
• 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:CYM, the sentiment is Negative. The current price of 0.12 is above the 20-day moving average (MA) of 0.11, above the 50-day MA of 0.12, and below the 200-day MA of 0.14, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 36.36 is Neutral, neither overbought nor oversold. The STOCH value of 35.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:CYM.

Cymat Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DRX	74 Outperform	C$252.41M	8.77	16.89%	0.46%	-26.61%	-45.62%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
USCU	50 Neutral	C$24.01M	-18.13	-162.83%	―	―	1.23%
IB	46 Neutral	C$23.05M	-5.59	-78.49%	―	―	―
MTS	45 Neutral	C$15.83M	-8.78	-92.01%	―	―	―
CYM	40 Underperform	C$9.53M	-1.80	―	―	-25.74%	2.28%

Cymat Technologies Corporate Events

Cymat Technologies Secures $1.8M Military Order and Completes Equity Placement

Cymat Technologies Ltd. announced a $1.8 million order for its SmartMetal underbelly kits from an Asian military vehicle manufacturer, marking the third purchase order under the customer’s full-rate production schedule. This contract, expected to be worth $4M-$5M, aligns with global trends in defense spending, potentially enhancing sales opportunities for Cymat’s customer and increasing interest from other SmartMetal clients. Additionally, Cymat completed a non-brokered private placement of equity units, raising $1,551,500.

The most recent analyst rating on (TSE:CYM) stock is a Hold with a C$0.10 price target. To see the full list of analyst forecasts on Cymat Technologies stock, see the TSE:CYM Stock Forecast page.

Cymat Technologies Schedules Investor Update Call

Cymat Technologies Ltd. announced an investor update call scheduled for November 12, 2025, to provide stakeholders with updates on its ongoing projects and initiatives. This call is part of Cymat’s efforts to keep investors informed about its operations and strategic direction, potentially impacting its market position and stakeholder relations.