Harrys Manufacturing (HARY) AI Stock Analysis

• Market Cap: C$7.96M
• Dividend Yield: N/A
• Average Volume (3M): 234.36K
• Price to Earnings (P/E): ―
• Beta (1Y): -2.02
• Revenue Growth: -54.09%
• EPS Growth: -77.14%
• Country: CA
• Employees: N/A
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Tobacco
• EPS (TTM): N/A
• Shares Outstanding: 113,759,080
• 10 Day Avg. Volume: 76,631
• 30 Day Avg. Volume: 234,356
• PEG Ratio: 0.25
• Price to Book (P/B): -2.64
• Price to Sales (P/S): 49.64
• P/FCF Ratio: -84.79
• 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: 51 Neutral
• Price Target: C$0.09 ▲(21.43% Upside)
• Action: Reiterated Date: 02/09/26
• Date: Action: Reiterated 02/09/26

The score is held down primarily by distressed financial performance (shrinking revenue, massive losses, cash burn, and negative equity). Technical indicators are a notable offset with strong price strength and positive momentum, while valuation remains unattractive due to ongoing losses and no dividend data.

Positive Factors

Low Reported Debt

Reported zero total debt in the most recent period reduces near-term interest obligations and eases refinancing pressure. This gives management time and optionality to restructure operations or secure non-debt funding, improving short-to-medium term financial flexibility if cash burn is controlled.

Improving Free Cash Flow

An improvement in TTM free cash flow signals the business may be beginning to convert operational changes into cash relief. If sustained, this reduces reliance on external financing, lengthens runway for turnaround work, and supports reinvestment or deleveraging over the coming months.

Early Margin Recovery

Reported margin improvement versus a deeply depressed prior year suggests cost controls or product/mix adjustments are having effect. If the trend persists, it indicates a pathway to narrowing losses and restoring operating leverage, a necessary step toward long-term profitability.

Negative Factors

Shrinking Revenue

A sharp 25% TTM revenue decline undermines scale economics and market position. Lower sales reduce the ability to cover fixed costs, compress margins, and limit reinvestment capacity; prolonged top-line deterioration materially weakens the company's long-term recovery prospects.

Persistent Cash Burn

Consistent negative operating and free cash flow shows losses are translating into real cash outflows. Ongoing cash burn erodes reserves, forces frequent financing, and constrains investment in marketing or product initiatives, raising solvency and execution risks over the medium term.

Negative Shareholders' Equity

Deeply negative shareholders' equity signals historical losses have exceeded capital and limits the firm's ability to absorb further losses. Negative equity impairs access to traditional financing, can trigger covenant or supplier issues, and represents a structural solvency concern for recovery plans.

Harrys Manufacturing Business Overview & Revenue Model

Company Description

Harrys Manufacturing Inc., together with its subsidiaries, manufactures, sells, and distributes tobacco products. It offers tobacco cigarettes and ingredients. The company was formerly known as Westridge Resources Inc. and changed its name to Harrys Manufacturing Inc. in October 2018. Harrys Manufacturing Inc. was incorporated in 2007 and is based in Vancouver, Canada.

Harrys Manufacturing Financial Statement Overview

Summary

Financials are distressed: TTM revenue fell sharply (-25.3%), profitability is extremely weak (net margin roughly -1,451%), and both operating cash flow and free cash flow are negative in TTM. The balance sheet adds risk with negative shareholders’ equity, limiting financial flexibility despite currently low reported debt.

Income Statement

Results show persistent and very weak profitability. In TTM (Trailing-Twelve-Months), revenue declined sharply (-25.3%), while gross profit remained deeply negative and operating losses were extremely large relative to sales (net margin roughly -1,451%). Annual history shows continued net losses each year, with some improvement versus 2023’s extremely depressed margin, but overall earnings power remains highly impaired and the trajectory on sales is deteriorating.

Balance Sheet

Leverage appears low in the most recent periods (total debt reported at 0 in 2023–TTM), but the balance sheet is structurally weak because shareholders’ equity is negative across recent years (TTM equity about -853,595; assets about 79,795). Negative equity reduces financial flexibility and raises solvency risk, even if stated debt is minimal. Earlier history also shows meaningful debt (2021–2022), underscoring that capital structure has been volatile.

Cash Flow

Cash generation remains poor: operating cash flow and free cash flow are negative in every period shown, including TTM (operating cash flow about -54,759; free cash flow about -54,751). While TTM free cash flow improved versus the prior annual period (strong positive growth off a low base), the business still consumes cash and does not demonstrate self-funding operations. Free cash flow is roughly in line with net losses, indicating the losses are translating into real cash burn rather than being purely non-cash.

Breakdown	Oct 2025	Oct 2024	Oct 2023	Oct 2022	Oct 2021
Income Statement
Total Revenue	42.16K	48.12K	23.50K	0.00	0.00
Gross Profit	-256.64K	-6.85K	-3.08K	-23.81K	-41.19K
EBITDA	-435.33K	-514.00K	-647.73K	-1.03M	-1.09M
Net Income	-436.19K	-516.00K	-650.14K	-1.38M	-1.27M
Balance Sheet
Total Assets	98.33K	74.44K	94.28K	289.13K	1.05M
Cash, Cash Equivalents and Short-Term Investments	59.01K	10.84K	16.87K	9.24K	363.80K
Total Debt	0.00	0.00	0.00	104.21K	613.60K
Total Liabilities	892.29K	541.61K	337.06K	396.65K	705.26K
Stockholders Equity	-793.96K	-467.17K	-242.78K	-107.53K	340.31K
Cash Flow
Free Cash Flow	-24.68K	-163.20K	-264.37K	-443.62K	-886.77K
Operating Cash Flow	-24.68K	-163.20K	-264.37K	-443.62K	-883.68K
Investing Cash Flow	0.00	0.00	200.00K	-200.00K	-203.09K
Financing Cash Flow	72.85K	157.17K	72.00K	289.07K	1.21M

Harrys Manufacturing Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.07
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:HARY, the sentiment is Neutral. The current price of 0.07 is below the 20-day moving average (MA) of 0.07, above the 50-day MA of 0.06, and above the 200-day MA of 0.03, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 49.41 is Neutral, neither overbought nor oversold. The STOCH value of 53.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:HARY.

Harrys Manufacturing Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
HARY	51 Neutral	C$7.96M	-3.21	61.87%	―	-54.09%	-77.14%
ZOG.X	44 Neutral	C$655.30K	-5.75	―	―	―	―

Harrys Manufacturing Corporate Events

Harrys Manufacturing Closes $131,000 Private Placement to Fund Market Expansion

Harrys Manufacturing Inc. has closed a non-brokered private placement, issuing 2,019,233 units at $0.065 per unit for gross proceeds of approximately $131,250, with each unit comprising one common share and a warrant exercisable at $0.10 for 24 months. The funds, after modest finder’s fees, will support market development and general working capital, with significant insider participation of $100,000 underscoring internal confidence while triggering related-party transaction rules that the company addressed through available regulatory exemptions.

The most recent analyst rating on (TSE:HARY) stock is a Hold with a C$0.09 price target. To see the full list of analyst forecasts on Harrys Manufacturing stock, see the TSE:HARY Stock Forecast page.

Harrys Manufacturing Has Management Cease Trade Order Revoked After Filing Annual Results

Harrys Manufacturing Inc. announced that the British Columbia Securities Commission has revoked the temporary management cease trade order imposed in December 2025, after the company successfully filed its audited annual financial statements, management’s discussion and analysis, and related certifications for the fiscal year ended July 31, 2025. With the lifting of the order, Harrys’ management is once again permitted to trade the company’s securities, removing a regulatory overhang and signaling a return to normal compliance status, which may help restore confidence among investors and market participants.

The most recent analyst rating on (TSE:HARY) stock is a Hold with a C$0.08 price target. To see the full list of analyst forecasts on Harrys Manufacturing stock, see the TSE:HARY Stock Forecast page.

Harrys Manufacturing Updates Investors on Management Cease Trade Order and Filing Delay

Harrys Manufacturing Inc. has issued a bi-weekly status report confirming that its audited annual financial statements for the year ended July 31, 2025, and related disclosures were not filed by the original November 28, 2025 deadline, resulting in a management cease trade order (MCTO) against its CEO and CFO. The company states that there have been no material changes or additional defaults since the MCTO was announced on December 1, 2025, and that no undisclosed material information exists, while it works to complete the required filings by the revised January 27, 2026 deadline. During this period, Harrys will continue to provide bi-weekly default status reports in line with National Policy 12-203 and comply with alternative information guidelines, signaling an effort to maintain transparency with regulators and investors despite the filing delay.

Harrys Manufacturing Raises $50,000 in Private Placement to Fund Operations

Harrys Manufacturing Inc. has completed a non-brokered private placement of 2,000,000 units at $0.025 per unit, raising gross proceeds of $50,000. Each unit consists of one common share and one transferable share purchase warrant, with each warrant allowing the purchase of an additional share at $0.05 for 24 months, and all securities are subject to a four-month-plus-one-day hold period under applicable securities laws. The company, which paid no finder’s fees on the transaction, plans to use the funds to support day-to-day operations and administrative costs, providing modest but targeted working capital support as it continues to position its value-priced, Canadian-made tobacco products in the domestic market.

Harrys Manufacturing Updates Market on Ongoing Management Cease Trade Order and Filing Delay

Harrys Manufacturing Inc. has issued a bi-weekly status report confirming that its previously announced management cease trade order remains in effect after the company failed to file its audited annual financial statements and related disclosures for the year ended July 31, 2025 by the original November 28 deadline. The order, which restricts trading by the CEO and CFO until the required filings are made, is expected to stay in place until the financial statements are submitted on or before January 27, 2026, with the company stating there have been no new material changes, additional defaults, or undisclosed information since the order was first announced and committing to continue issuing bi-weekly updates while it works to complete the filings.

Harrys Manufacturing Maintains Management Cease Trade Order as It Works to Complete Overdue Annual Filings

Harrys Manufacturing Inc. reported that its previously announced management cease trade order remains in effect after the company missed the regulatory deadline to file its audited annual financial statements for the year ended July 31, 2025. The order restricts trading in the company’s securities by its chief executive officer and chief financial officer until the required annual filings are completed, with a current filing deadline of January 27, 2026. The company stated there have been no material changes since the initial announcement, no additional defaults, and no undisclosed material information, and it expects to complete and file the financial statements by the prescribed deadline while continuing to issue bi-weekly status updates under the alternative information guidelines.