EverGen Infrastructure Corp. (TSE:EVGN)
:EVGN
Top Page
EverGen Infrastructure Corp.
(EVGN)
Select Model
Select Model
Rating:48Neutral
Price Target:
C$0.44
▼(-20.73% Downside)
Action:UpgradedDate:01/07/26
The score is primarily weighed down by weak financial performance (declining revenue, negative profitability, and negative operating/free cash flow). Technical indicators are somewhat supportive near-term (price above 20/50DMA with relatively strong RSI), but longer-term trend levels and a near-flat/negative MACD temper that support. Valuation is constrained by a negative P/E and no provided dividend yield.
Positive Factors
Long-term contracts
Securing long-dated offtake and service contracts with utilities and industrial customers creates predictable revenue streams and reduces spot-price exposure. That contractual predictability supports project financing, underpins capital planning for new facilities, and stabilizes cash flow over multiple years.
Negative Factors
Declining revenue
Sustained revenue shrinkage undermines scale economics in capital-intensive RNG operations, pressuring unit margins and return on invested capital. Without a clear reversal, declining top-line trends impair financing capacity for new projects and limit ability to amortize fixed plant costs over time.
Read all positive and negative factors
Positive Factors
Negative Factors
Long-term contracts
Securing long-dated offtake and service contracts with utilities and industrial customers creates predictable revenue streams and reduces spot-price exposure. That contractual predictability supports project financing, underpins capital planning for new facilities, and stabilizes cash flow over multiple years.
Read all positive factors
EverGen Infrastructure Corp. (EVGN) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$9.46M
Dividend YieldN/A
Average Volume (3M)58.46K
Price to Earnings (P/E)―
Beta (1Y)0.73
Revenue Growth-20.29%
EPS Growth-326.08%
CountryCA
Employees35
SectorEnergy
Sector Strength52
IndustryRegulated Gas
Share Statistics
EPS (TTM)-0.05
Shares Outstanding25,580,498
10 Day Avg. Volume118,375
30 Day Avg. Volume58,458
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.51
Price to Sales (P/S)1.43
P/FCF Ratio49.37
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. (EVGN) is a Canadian company focused on the development and operation of renewable energy infrastructure, primarily in the biogas and organic waste management sectors. The company aims to facilitate the transition to a...
How the Company Makes Money
EverGen Infrastructure generates revenue primarily through the sale of renewable natural gas (RNG) produced from its biogas facilities. The company enters into long-term contracts with customers, including utilities and industrial users, providing...
EverGen Infrastructure Corp. Earnings Call Summary
Earnings Call Date:Nov 20, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:Apr 16, 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
35
Negative
Balance Sheet
45
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.66M | 14.23M | 8.44M | 7.46M | 9.56M | 0.00 |
| Gross Profit | -272.00K | 994.00K | -1.46M | -2.49M | 6.79M | 0.00 |
| EBITDA | -15.05M | -11.23M | -1.87M | -1.51M | 770.00K | 149.00K |
| Net Income | -18.03M | -16.73M | -4.42M | -4.10M | -1.95M | -2.23M |
Balance Sheet | ||||||
| Total Assets | 76.54M | 77.70M | 93.53M | 85.96M | 80.61M | 50.51M |
| Cash, Cash Equivalents and Short-Term Investments | 2.91M | 414.00K | 585.00K | 8.85M | 19.60M | 4.68M |
| Total Debt | 27.39M | 26.63M | 24.16M | 11.54M | 9.76M | 3.45M |
| Total Liabilities | 32.76M | 35.70M | 35.95M | 24.57M | 19.24M | 18.60M |
| Stockholders Equity | 41.32M | 39.43M | 55.32M | 58.92M | 61.37M | 31.91M |
Cash Flow | ||||||
| Free Cash Flow | -3.61M | 411.00K | -16.77M | -9.02M | -3.51M | -46.00K |
| Operating Cash Flow | -2.02M | 4.06M | 307.00K | -1.35M | -1.92M | -46.00K |
| Investing Cash Flow | 810.00K | -3.65M | -16.66M | -7.47M | -14.99M | -23.53M |
| Financing Cash Flow | 2.78M | -582.00K | 8.08M | -1.92M | 34.19M | 28.58M |
EverGen Infrastructure Corp. Technical Analysis
Negative
0.55
Price Trends
0.42
Negative
0.40
Negative
0.45
Negative
Market Momentum
-0.01
Negative
44.64
Neutral
21.21
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:EVGN, the sentiment is Negative. The current price of 0.55 is above the 20-day moving average (MA) of 0.38, above the 50-day MA of 0.42, and above the 200-day MA of 0.45, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 44.64 is Neutral, neither overbought nor oversold. The STOCH value of 21.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:EVGN.
EverGen Infrastructure Corp. Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | C$15.11B | 16.39 | 9.01% | 2.99% | -0.68% | 49.61% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
55 Neutral | C$103.22M | -2.72 | -2.38% | ― | -0.38% | 6.98% | |
54 Neutral | C$1.50B | 18.82 | 8.15% | 2.54% | 6.58% | 9.33% | |
49 Neutral | C$10.79M | 2.90 | -0.93% | ― | -75.46% | -100.66% | |
48 Neutral | C$9.46M | -3.23 | -38.52% | ― | -20.29% | -326.08% | |
45 Neutral | C$6.93B | -22.03 | 22.29% | 4.56% | 3.29% | 76.89% |
* Energy Sector Average
TSE:EVGN
EverGen Infrastructure Corp.
0.37
-0.48
-56.47%
TSE:ALA
AltaGas
48.55
10.72
28.33%
TSE:SPB
Superior Plus
6.89
0.52
8.13%
TSE:WRG
Western Energy Services
3.05
0.79
34.96%
TSE:HWO
High Arctic Energy Services
0.85
-0.32
-27.35%
TSE:BIPC
Brookfield Infrastructure
52.45
2.77
5.57%
EverGen Infrastructure Corp. Corporate Events
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
EverGen Sets Record RNG Output in Q4 2025 and Issues New RSU Grants
Positive
Jan 29, 2026
EverGen Infrastructure Corp. reported a record quarterly renewable natural gas production of 54,480 GJ in the fourth quarter of 2025, reflecting strong performance from its Fraser Valley Biogas and GrowTEC facilities and underscoring the growing m...
Business Operations and Strategy
EverGen Secures 20-Year RNG Offtake Deal with FortisBC
Positive
Jan 16, 2026
EverGen Infrastructure Corp., through its wholly owned subsidiary Fraser Valley Biogas, has brought into effect a new 20-year Biomethane Purchase Agreement with FortisBC Energy Inc. for the sale of renewable natural gas produced at its Fraser Vall...
Business Operations and StrategyPrivate Placements and Financing
EverGen Reshapes Balance Sheet With FCC Debt Deal and $1.9 Million Equity Raise
Positive
Jan 16, 2026
EverGen Infrastructure Corp. has strengthened its balance sheet by closing a $13 million asset-level term loan and operating line with Farm Credit Canada through its Fraser Valley Biogas subsidiary, using the proceeds primarily to repay $12 millio...
Business Operations and StrategyPrivate Placements and Financing
EverGen Secures New Credit Facility and Extends Private Placement to Bolster 2026 Outlook
Positive
Jan 13, 2026
EverGen Infrastructure Corp. has strengthened its balance sheet strategy by entering into a Credit Agreement, through its Fraser Valley Biogas subsidiary, with Farm Credit Canada for a $13 million term loan and a $250,000 operating line of credit,...
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.