EverGen Infrastructure Corp. (TSE:EVGN)
:EVGN
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EverGen Infrastructure Corp.
(EVGN)
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Rating:45Neutral
Price Target:
C$0.44
▼(-20.18% Downside)
Action:Reiterated
Date:05/30/26
The score is held down primarily by ongoing net losses and unstable/negative cash generation despite improving revenue and margins. Technicals add a modest headwind with the stock trading below key moving averages and only weak momentum signals. Valuation provides limited support because the company is loss-making and no dividend yield is available.
Positive Factors
Waste-to-energy business model
EverGen’s core model converts organic waste to renewable natural gas and related environmental credits while also earning tipping and energy sales. This diversification of durable revenue streams and potential long-term offtakes aligns with structural decarbonization demand and supports predictable cash flow as projects scale.
Negative Factors
Negative cash generation
Persistently negative operating and materially negative free cash flow undermine self-funding of project development and maintenance. Over months this raises financing needs, increases dilution or leverage risk for new projects, and constrains ability to build resilience into operations and long-term contracting.
Read all positive and negative factors
Positive Factors
Negative Factors
Waste-to-energy business model
EverGen’s core model converts organic waste to renewable natural gas and related environmental credits while also earning tipping and energy sales. This diversification of durable revenue streams and potential long-term offtakes aligns with structural decarbonization demand and supports predictable cash flow as projects scale.
Read all positive factors
EverGen Infrastructure Corp. (EVGN) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$11.51M
Dividend YieldN/A
Average Volume (3M)58.46K
Price to Earnings (P/E)―
Beta (1Y)0.59
Revenue Growth-3.44%
EPS Growth82.93%
CountryCA
Employees35
SectorGeneral
Sector StrengthN/A
IndustryRegulated Gas
Share Statistics
EPS (TTM)-0.20
Shares Outstanding25,580,000
10 Day Avg. Volume118,375
30 Day Avg. Volume58,458
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.17
Price to Sales (P/S)0.59
P/FCF Ratio-1.60
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)-0.01
Revenue Forecast (FY)C$16.10M
EverGen Infrastructure Corp. Business Overview & Revenue Model
Company Description
EverGen Infrastructure Corp., established in 2020 and headquartered in Vancouver, Canada, specializes in the full lifecycle of sustainable infrastructure. The company focuses on procuring, developing, building, possessing, and managing a variety o...
How the Company Makes Money
EverGen generates revenue primarily through the production and sale of renewable natural gas (RNG) and related environmental attributes (e.g., credits) created by converting organic waste into biogas and upgrading it to pipeline-quality gas. It ca...
EverGen Infrastructure Corp. Earnings Call Summary
Earnings Call Date:Nov 20, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:Aug 26, 2026
Earnings Call Sentiment Positive
The earnings call highlighted significant revenue growth and success in cost management, alongside advancements in key projects. While there were some challenges related to production and regulatory delays, the overall outlook remains positive with strong growth prospects and strategic advancements.Positive Updates
Significant Revenue Increase
Reported a 57% increase in revenues compared to Q3 2023, driven by increased organic waste volumes and improved pricing.
Negative Updates
RNG Production Decrease at GrowTEC
Quarter-over-quarter decrease in RNG production at GrowTEC due to line restrictions and nomination issues.
Read all updates
Q3-2024 Updates
Positive
Negative
Significant Revenue Increase
Reported a 57% increase in revenues compared to Q3 2023, driven by increased organic waste volumes and improved pricing.
Read all positive updates
Company Guidance
During the EverGen Infrastructure Q3 2024 earnings call, the company reported several significant metrics reflecting its financial performance and strategic progress. Fraser Valley Biogas saw a 15% quarterly increase in RNG production since its expansion, contributing to a 57% rise in revenues compared to Q3 2023. Direct operating costs rose by 18% but were 10% lower than expected, while general and administrative expenses decreased by 36% year-over-year. The adjusted EBITDA increased to $1 million from $382,000 the previous year, although net loss improved by 57%. Looking ahead, EverGen aims to achieve a $13 million EBITDA by advancing major development projects and optimizing operations, with a focus on reaching nameplate capacity at Fraser Valley Biogas and progressing projects like GrowTEC and Pacific Coast Renewables.EverGen Infrastructure Corp. Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
52
Neutral
Cash Flow
28
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 11.75M | 14.23M | 8.44M | 7.46M | 9.56M |
| Gross Profit | 1.26M | 994.00K | -1.46M | -2.49M | 6.79M |
| EBITDA | 697.00K | -11.23M | -1.87M | -1.51M | 770.00K |
| Net Income | -4.53M | -16.73M | -4.42M | -4.10M | -1.95M |
Balance Sheet | |||||
| Total Assets | 75.46M | 77.70M | 93.53M | 85.96M | 80.61M |
| Cash, Cash Equivalents and Short-Term Investments | 2.21M | 414.00K | 585.00K | 8.85M | 19.60M |
| Total Debt | 26.74M | 26.63M | 24.16M | 11.54M | 9.76M |
| Total Liabilities | 32.24M | 35.70M | 35.95M | 24.57M | 19.24M |
| Stockholders Equity | 40.82M | 39.43M | 55.32M | 58.92M | 61.37M |
Cash Flow | |||||
| Free Cash Flow | -4.32M | 411.00K | -16.77M | -9.02M | -3.51M |
| Operating Cash Flow | -1.96M | 4.06M | 307.00K | -1.35M | -1.92M |
| Investing Cash Flow | -209.00K | -3.65M | -16.66M | -7.47M | -14.99M |
| Financing Cash Flow | 3.97M | -582.00K | 8.08M | -1.92M | 34.19M |
EverGen Infrastructure Corp. Technical Analysis
Positive
0.55
Price Trends
0.40
Positive
0.40
Positive
0.43
Positive
Market Momentum
<0.01
Negative
66.12
Neutral
84.78
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:EVGN, the sentiment is Positive. The current price of 0.55 is above the 20-day moving average (MA) of 0.41, above the 50-day MA of 0.40, and above the 200-day MA of 0.43, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 66.12 is Neutral, neither overbought nor oversold. The STOCH value of 84.78 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:EVGN.
EverGen Infrastructure Corp. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | C$16.72B | 32.15 | 5.92% | 2.99% | 1.11% | -13.38% | |
62 Neutral | C$1.76B | 27.51 | 5.20% | 2.54% | -7.20% | 14.34% | |
59 Neutral | C$108.32M | -4.13 | -2.38% | ― | -11.45% | -314.67% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | C$11.30M | 8.49 | -0.93% | ― | 12.47% | -94.70% | |
47 Neutral | C$7.62B | -7.01 | 57.41% | 4.56% | -2.56% | -291.71% | |
45 Neutral | C$11.51M | -2.91 | -38.52% | ― | -3.44% | 82.93% |
* General Sector Average
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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.