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First Hydrogen
(FHYD)
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Rating:44Neutral
Price Target:
C$0.38
▼(-0.53% Downside)
Action:Reiterated
Date:08/03/26
The score is primarily weighed down by weak financial performance (near-zero revenue, persistent losses, negative free cash flow, and negative equity). Technicals are mixed-to-weak with the stock below longer-term moving averages, while valuation is also pressured because the company is unprofitable and no dividend yield is available to offset risk.
Positive Factors
Strategic hydrogen focus
A focused business model on hydrogen-powered light commercial vehicles and the supporting refueling ecosystem aligns with long-term decarbonization trends. Structural demand for zero-emission transport and integrated supply chains can support market entry and scalable product-platform advantages over years.
Negative Factors
Pre-commercial revenue profile
Near-zero revenue indicates the business remains pre-commercial, so product-market fit and repeatable sales are unproven. Without sustainable revenue, operating leverage cannot be demonstrated and the company remains dependent on milestone deliveries and external funding to cover fixed costs and scale production.
Read all positive and negative factors
Positive Factors
Negative Factors
Strategic hydrogen focus
A focused business model on hydrogen-powered light commercial vehicles and the supporting refueling ecosystem aligns with long-term decarbonization trends. Structural demand for zero-emission transport and integrated supply chains can support market entry and scalable product-platform advantages over years.
Read all positive factors
First Hydrogen (FHYD) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$33.91M
Dividend YieldN/A
Average Volume (3M)12.95K
Price to Earnings (P/E)―
Beta (1Y)0.90
Revenue GrowthN/A
EPS Growth49.79%
CountryCA
Employees49
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)-0.04
Shares Outstanding89,228,880
10 Day Avg. Volume7,970
30 Day Avg. Volume12,953
Financial Highlights & Ratios
PEG Ratio0.24
Price to Book (P/B)-6.32
Price to Sales (P/S)0.00
P/FCF Ratio-25.37
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)N/A
Revenue Forecast (FY)N/A
First Hydrogen Business Overview & Revenue Model
Company Description
First Hydrogen Corp. specializes in three key sectors: zero-emission vehicle development, green hydrogen production and distribution, and supercritical carbon dioxide extractor systems. The company is currently engaged in the design and constructi...
How the Company Makes Money
null...
First Hydrogen Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
12
Very Negative
Cash Flow
18
Very Negative
| Breakdown | Mar 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 160.06K | 0.00 |
| Gross Profit | -105.07K | -118.06K | -117.00K | 5.55K | 0.00 |
| EBITDA | -2.16M | -4.11M | -10.45M | -13.40M | 16.00K |
| Net Income | -2.67M | -5.07M | -10.91M | -13.85M | -8.87M |
Balance Sheet | |||||
| Total Assets | 2.06M | 1.82M | 2.15M | 4.24M | 5.15M |
| Cash, Cash Equivalents and Short-Term Investments | 861.90K | 11.51K | 87.47K | 394.82K | 2.60M |
| Total Debt | 2.58M | 3.68M | 2.23M | 30.80K | 1.26M |
| Total Liabilities | 7.00M | 7.50M | 4.28M | 3.15M | 4.03M |
| Stockholders Equity | -4.93M | -5.68M | -2.13M | 1.09M | 1.12M |
Cash Flow | |||||
| Free Cash Flow | -1.23M | -1.53M | -9.09M | -13.65M | -7.15M |
| Operating Cash Flow | -1.23M | -1.53M | -8.92M | -13.64M | -7.15M |
| Investing Cash Flow | 0.00 | 0.00 | -165.48K | -12.35K | -20.26K |
| Financing Cash Flow | 2.08M | 1.46M | 8.78M | 11.58M | 8.11M |
First Hydrogen Technical Analysis
Negative
0.38
Price Trends
0.41
Negative
0.42
Negative
0.42
Negative
Market Momentum
-0.01
Negative
47.10
Neutral
32.50
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FHYD, the sentiment is Negative. The current price of 0.38 is below the 20-day moving average (MA) of 0.39, below the 50-day MA of 0.41, and below the 200-day MA of 0.42, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 47.10 is Neutral, neither overbought nor oversold. The STOCH value of 32.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:FHYD.
First Hydrogen Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | C$26.03B | 25.83 | 5.42% | 2.92% | 1.59% | -35.21% | |
72 Outperform | C$6.26B | 10.04 | 10.37% | 1.14% | 2.38% | 149.43% | |
68 Neutral | C$746.63M | 6.24 | 7.74% | 1.98% | -2.65% | ― | |
63 Neutral | C$2.98B | 37.56 | -22.22% | ― | 14.75% | ― | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
50 Neutral | C$49.96M | -0.50 | -80.75% | ― | -93.85% | -426.87% | |
44 Neutral | C$33.91M | -10.83 | 51.72% | ― | ― | 49.79% |
* Consumer Cyclical Sector Average
TSE:FHYD
First Hydrogen
0.38
-0.22
-36.67%
TSE:MG
Magna International
98.04
41.86
74.51%
TSE:WPRT
Westport Fuel Systems
2.63
-2.51
-48.83%
TSE:LNR
Linamar
105.66
37.45
54.89%
TSE:MRE
Martinrea International
10.67
2.53
31.02%
TSE:NFI
NFI Group Inc
24.98
6.50
35.17%
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.