GOAT Industries (GOAT) AI Stock Analysis

• Market Cap: C$9.77M
• Dividend Yield: N/A
• Average Volume (3M): 123.74K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.81
• Revenue Growth: N/A
• EPS Growth: 88.19%
• Country: CA
• Employees: 1
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): -0.04
• Shares Outstanding: 34,909,412
• 10 Day Avg. Volume: 65,345
• 30 Day Avg. Volume: 123,736
• PEG Ratio: 0.02
• Price to Book (P/B): -1.91
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -4.40
• 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: 41 Neutral
• Price Target: C$0.38 ▼(-20.42% Downside)
• Action: Downgraded Date: 01/29/26
• Date: Action: Downgraded 01/29/26

The score is primarily constrained by weak financial performance (persistent losses, negative operating/free cash flow, and negative equity). Technicals are mixed but not supportive overall with price below key short/intermediate moving averages. Valuation is also challenged because the company is loss-making (negative P/E) and no dividend yield is provided.

Positive Factors

Debt reduction trend

A multi-year decline in gross debt improves financial flexibility and reduces fixed financing burden. This durable trend lowers near-term refinancing needs, lengthens runway, and creates optionality for restructuring or targeted investment if revenue initiatives begin to scale.

Reduced cash outflow magnitude

Substantially smaller cash outflows versus prior years indicate improved cost control or smaller operational scale, which reduces ongoing funding needs. If sustained, lower burn improves survival prospects and increases the chance management can reach cash-flow breakeven.

Very lean operating structure

A one-person headcount signals an extremely low fixed-cost base, which supports a longer runway per dollar of funding and allows rapid allocation of scarce capital to priority initiatives. For an asset-management model, a lean structure can scale and preserve capital.

Negative Factors

Persistent operating losses

Recurring, large operating and net losses over multiple years erode capital and hinder the company's ability to self-fund. Persistent deficits increase reliance on external financing, constrain strategic options, and make reaching a sustainable profitability profile more difficult over the medium term.

Negative equity / stressed balance sheet

Negative equity indicates liabilities exceed assets, weakening creditworthiness and limiting access to traditional financing. This structural balance-sheet weakness raises insolvency risk and constrains investments, M&A, or product development until equity is restored.

No reported revenue

A consistent absence of reported revenue prevents validation of the core business model and means operating losses cannot be offset by growing sales. Long-term viability depends on establishing recurring revenue, otherwise ongoing cash burn and financing needs remain structural risks.

GOAT Industries Business Overview & Revenue Model

Company Description

GOAT Industries Ltd. is a venture capital firm specializing in incubation. It seeks to invest in food and beverage industry with a focus on functional food, plant-based alternatives, and plant-based protein. GOAT Industries Ltd. based in Vancouver, Canada.

How the Company Makes Money

GOAT Industries generates revenue primarily through the sale of its advanced agricultural technologies and products directly to farmers, agricultural cooperatives, and large agribusinesses. The company also engages in strategic partnerships with regional distributors and agricultural technology retailers to expand its market reach. Additionally, GOAT offers subscription-based services for its smart irrigation and precision agriculture tools, providing ongoing support, software updates, and data analytics to its customers. These subscription services create a recurring revenue stream that complements the company's product sales.

GOAT Industries Financial Statement Overview

Summary

Income statement and cash flow are weak with recurring net losses, negative operating/free cash flow (TTM OCF/FCF about -138K), and no reported revenue. The balance sheet is stressed with negative equity (TTM -161K), raising solvency and funding risk, despite some debt reduction versus 2023–2024.

Income Statement

TTM (Trailing-Twelve-Months) results remain deeply unprofitable with an operating loss of about -1.0M and net loss of about -1.5M. Annual performance shows persistent losses across 2020–2024, including a very large net loss in 2022 and another spike in 2023, indicating weak earnings stability and limited operating leverage. A key limitation is that reported revenue is consistently 0, which makes the profitability profile difficult to validate and suggests the business has not yet demonstrated a repeatable revenue base.

Balance Sheet

The balance sheet is stressed: TTM (Trailing-Twelve-Months) equity is negative (-161K), following negative equity in 2023–2024, which reduces financial flexibility and raises solvency risk. Debt has come down versus 2023–2024 (TTM debt ~167K vs. ~249K in 2024 and ~341K in 2023), which is a modest positive. However, with equity negative, leverage metrics become less meaningful and the capital structure remains fragile.

Cash Flow

Cash generation is weak with TTM (Trailing-Twelve-Months) operating cash flow and free cash flow both negative (about -138K), continuing a multi-year pattern of cash burn (notably large outflows in 2021–2022). While the cash outflow magnitude has improved substantially from prior years, free cash flow growth is sharply negative in TTM (down ~59% vs. the prior period), pointing to renewed pressure. Overall, the company has not yet shown an ability to self-fund operations through recurring cash flow.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	-74.28K	-274.61K	0.00	0.00
EBITDA	-1.35M	-980.72K	-4.08M	-4.18M	-6.08M	-37.02K
Net Income	-1.48M	-1.01M	-4.08M	-14.02M	-6.08M	-37.02K
Balance Sheet
Total Assets	514.81K	888.00	296.99K	2.23M	11.01M	409.97K
Cash, Cash Equivalents and Short-Term Investments	91.12K	887.00	6.62K	1.78K	672.78K	409.97K
Total Debt	166.95K	249.01K	340.87K	138.85K	0.00	0.00
Total Liabilities	675.96K	831.23K	760.33K	427.69K	204.02K	33.48K
Stockholders Equity	-161.16K	-830.34K	-463.34K	1.80M	10.81M	376.48K
Cash Flow
Free Cash Flow	-137.82K	-360.95K	-368.93K	-1.51M	-4.17M	-14.00
Operating Cash Flow	-137.82K	-360.95K	-368.93K	-1.51M	-4.17M	-14.00
Investing Cash Flow	-461.38K	0.00	-14.23K	-72.92K	-5.68M	0.00
Financing Cash Flow	618.71K	355.22K	388.00K	907.50K	10.11M	1.65K

GOAT Industries Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.48
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:GOAT, the sentiment is Negative. The current price of 0.48 is above the 20-day moving average (MA) of 0.28, above the 50-day MA of 0.38, and above the 200-day MA of 0.41, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 42.97 is Neutral, neither overbought nor oversold. The STOCH value of 55.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:GOAT.

GOAT Industries Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
IDK	53 Neutral	C$11.31M	-0.44	-70.07%	―	53.55%	-289.42%
QCA	48 Neutral	C$4.21M	9.47	-45.81%	―	26.42%	-1217.14%
GPK	47 Neutral	C$4.76M	144.56	-5.57%	―	-35.59%	88.78%
LBI	44 Neutral	C$10.80M	1.75	-113.97%	―	-19.49%	-25.00%
BLGV	42 Neutral	C$4.13M	-0.72	-226.11%	―	19.82%	-51.61%
GOAT	41 Neutral	C$9.77M	-3.20	282.17%	―	―	88.19%

GOAT Industries Corporate Events

GOAT Industries Shares Resume Trading on OTCQB Venture Market

GOAT Industries Ltd. has resumed trading of its common shares on the OTCQB Venture Market in the United States, effective January 15, 2026, after successfully completing the OTC Markets Group qualification review with no outstanding comments. The reinstated OTCQB listing is expected to expand the company’s visibility and accessibility among U.S. investors, potentially broadening its shareholder base and supporting its strategy as a diversified investment issuer.

The most recent analyst rating on (TSE:GOAT) stock is a Sell with a C$0.44 price target. To see the full list of analyst forecasts on GOAT Industries stock, see the TSE:GOAT Stock Forecast page.

GOAT Industries’ BETSource Strikes BKFC App Deal as Company Boosts Investor Outreach

GOAT Industries’ portfolio company BETSource has entered into a commercial relationship with Bare Knuckle Fighting Championship to integrate its fan engagement and sportsbook attribution technology into the BKFC mobile app, aiming to enhance the user experience, boost in-app interaction and retention, and support BKFC’s monetization efforts as the combat sports promoter rapidly scales its global audience and media distribution. Separately, GOAT has retained 1502655 B.C. Ltd. for a six-month, cash-only investor relations mandate worth up to $400,000 to strengthen its capital markets presence, develop performance metrics for investors, and increase awareness of the company’s strategy and portfolio momentum, signaling a concerted push to raise its profile among market participants.

The most recent analyst rating on (TSE:GOAT) stock is a Hold with a C$0.47 price target. To see the full list of analyst forecasts on GOAT Industries stock, see the TSE:GOAT Stock Forecast page.

GOAT Industries Appoints New Director and Corporate Secretary

GOAT Industries Ltd. has announced the appointment of Mr. Steve Vanry as a director and Corporate Secretary, succeeding Mr. Lawrence Hay. Mr. Vanry brings over 25 years of experience in senior management roles across multiple industries, enhancing the company’s strategic planning and corporate governance capabilities.

GOAT Industries Expands Portfolio with BetSource Acquisition

GOAT Industries Ltd. has successfully acquired 1509467 B.C. Ltd. and Veroom, Inc., expanding its portfolio with the BetSource group of companies. This acquisition aligns with GOAT’s strategy to enhance its presence in the digital engagement and affiliate business, particularly in the sports-betting sector. The acquisition allows GOAT to leverage Source Gaming’s technology, which integrates sports books with interactive applications, enhancing user experiences and monetization opportunities. Vroom, as the sales and marketing arm, will drive partner acquisition and revenue growth, strengthening GOAT’s market position.

GOAT Industries Completes Private Placement to Fund Strategic Acquisitions

GOAT Industries Ltd. has successfully closed the final tranche of its non-brokered private placement, raising a total of C$5,379,713.10. The proceeds will be used to fund the acquisition and expansion of BETSource, as well as for future investments and general corporate purposes, enhancing GOAT’s strategic positioning in the market.

GOAT Industries Expands Digital Media Portfolio with Source Gaming Acquisition

GOAT Industries Ltd. announced an update on its acquisition of Source Gaming Company, a digital media and technology firm specializing in sports and sports-betting engagement tools. Source Gaming operates mainly in the U.S. and Ontario, Canada, offering products like BETSource, which integrates sports betting and live sports content to enhance user experience and revenue streams. The acquisition is expected to strengthen GOAT’s position in the digital sports media market, providing new opportunities for revenue through Source Gaming’s established commercial agreements and technology partnerships.