First Hydrogen (TSE:FHYD)
:FHYD
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First Hydrogen
(FHYD)
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Rating:43Neutral
Price Target:
C$0.38
▼(-13.41% Downside)
Action:ReiteratedDate:03/04/26
The score is driven primarily by weak financial performance (no recent revenue, continued losses, negative cash flow, and negative equity). Technicals also weigh on the score with price below key moving averages, while valuation provides limited support due to a loss-making profile and no dividend yield data.
Positive Factors
Hydrogen/zero-emission focus
First Hydrogen’s strategic focus on hydrogen fuel-cell light commercial vehicles aligns with durable decarbonization and fleet electrification trends. Structural demand for zero-emission commercial fleets supports a long-term addressable market for vehicles and refueling ecosystem solutions.
Negative Factors
Negative shareholders' equity
Persistent negative shareholders’ equity is a structural solvency red flag that constrains capital-raising options and creditors’ confidence. It reduces financial flexibility, increases default or restructuring risk if losses persist, and limits the company's ability to absorb further operating shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Hydrogen/zero-emission focus
First Hydrogen’s strategic focus on hydrogen fuel-cell light commercial vehicles aligns with durable decarbonization and fleet electrification trends. Structural demand for zero-emission commercial fleets supports a long-term addressable market for vehicles and refueling ecosystem solutions.
Read all positive factors
First Hydrogen (FHYD) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$26.70M
Dividend YieldN/A
Average Volume (3M)12.95K
Price to Earnings (P/E)―
Beta (1Y)0.89
Revenue GrowthN/A
EPS Growth57.00%
CountryCA
EmployeesN/A
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding78,532,460
10 Day Avg. Volume7,970
30 Day Avg. Volume12,953
Financial Highlights & Ratios
PEG Ratio0.12
Price to Book (P/B)-6.20
Price to Sales (P/S)0.00
P/FCF Ratio-22.97
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. focuses on zero-emission vehicles, green hydrogen production and distribution, and supercritical carbon dioxide extractor systems. It is designing and building hydrogen-fuel-cell-powered light and medium commercial vehicle und...
How the Company Makes Money
As of publicly available information up to this model’s knowledge cutoff, specific, consistently disclosed commercial revenue streams (e.g., meaningful product sales, recurring service revenue, or long-term contracted hydrogen supply revenues) are...
First Hydrogen Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
18
Very Negative
Cash Flow
14
Very Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 160.06K | 0.00 | 302.11K |
| Gross Profit | -109.65K | -118.06K | -117.00K | 5.55K | 0.00 | -126.41K |
| EBITDA | -2.53M | -4.11M | -10.45M | -13.40M | 16.00K | -2.43M |
| Net Income | -2.97M | -5.07M | -10.91M | -13.85M | -8.87M | -2.46M |
Balance Sheet | ||||||
| Total Assets | 1.12M | 1.82M | 2.15M | 4.24M | 5.15M | 2.62M |
| Cash, Cash Equivalents and Short-Term Investments | 27.04K | 11.51K | 87.47K | 394.82K | 2.60M | 1.64M |
| Total Debt | 2.53M | 3.68M | 2.23M | 30.80K | 1.26M | 25.28K |
| Total Liabilities | 6.75M | 7.50M | 4.28M | 3.15M | 4.03M | 1.46M |
| Stockholders Equity | -5.62M | -5.68M | -2.13M | 1.09M | 1.12M | 1.17M |
Cash Flow | ||||||
| Free Cash Flow | -361.75K | -1.53M | -9.09M | -13.65M | -7.15M | -1.82M |
| Operating Cash Flow | -867.47K | -1.53M | -8.92M | -13.64M | -7.15M | -1.79M |
| Investing Cash Flow | 0.00 | 0.00 | -165.48K | -12.35K | -20.26K | 198.69K |
| Financing Cash Flow | 858.80K | 1.46M | 8.78M | 11.58M | 8.11M | 2.90M |
First Hydrogen Technical Analysis
Negative
0.44
Price Trends
0.39
Negative
0.41
Negative
0.52
Negative
Market Momentum
-0.01
Positive
42.04
Neutral
>-0.01
Positive
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 0.44 is above the 20-day moving average (MA) of 0.38, above the 50-day MA of 0.39, and below the 200-day MA of 0.52, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 42.04 is Neutral, neither overbought nor oversold. The STOCH value of >-0.01 is Positive, 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 |
|---|---|---|---|---|---|---|---|
70 Outperform | C$5.16B | 8.51 | 4.01% | 1.32% | -5.33% | -57.58% | |
66 Neutral | C$21.61B | 17.79 | 6.73% | 3.69% | 0.66% | -0.61% | |
63 Neutral | C$668.96M | 7.04 | 7.13% | 1.93% | -7.25% | -143.07% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
50 Neutral | C$44.27M | -0.96 | -52.33% | ― | -47.09% | -119.76% | |
50 Neutral | C$2.30B | -9.31 | -48.23% | ― | 14.40% | -1117.18% | |
43 Neutral | C$26.70M | -19.58 | ― | ― | ― | 57.00% |
* Consumer Cyclical Sector Average
TSE:FHYD
First Hydrogen
0.34
-0.25
-42.37%
TSE:MG
Magna International
77.51
25.95
50.32%
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Westport Fuel Systems
2.55
-3.21
-55.73%
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86.75
34.61
66.39%
TSE:MRE
Martinrea International
9.29
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22.80%
TSE:NFI
NFI Group Inc
19.32
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59.93%
First Hydrogen Corporate Events
Business Operations and StrategyM&A Transactions
First Hydrogen Moves Into Robotics With 60% Stake in Actuation Specialist
Positive
Feb 23, 2026
First Hydrogen has signed a binding letter of intent to acquire a 60% stake in Exodus Actuation Solutions, a robotics company with a substantial portfolio of issued and pending patents for advanced actuators and high-performance motors used in rob...
Business Operations and StrategyPrivate Placements and Financing
First Hydrogen Raises $1.56 Million in Warrant-Backed Private Placement
Positive
Jan 31, 2026
First Hydrogen Corp. has closed a private placement financing of 5.2 million units, raising gross proceeds of $1.56 million, with each unit comprising one common share and a warrant exercisable at $0.45 for two years. Conducted under a listed issu...
Business Operations and StrategyPrivate Placements and Financing
First Hydrogen Launches $3 Million Private Placement to Fund Operations
Positive
Jan 6, 2026
First Hydrogen Corp. has arranged a non-brokered private placement of up to 10 million units to raise as much as $3 million, with each unit comprising one common share and a warrant exercisable at $0.45 for two years. Conducted under the listed is...
Business Operations and Strategy
First Hydrogen Advances Clean Energy Research with University Collaboration
Positive
Dec 16, 2025
First Hydrogen Corp. has announced a collaboration with the University of Alberta to research molten salt fuel mixtures for Small Modular Reactors (SMRs). This initiative is part of their strategy to pair clean energy from SMRs with green hydrogen...
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.