Hillcrest Energy Technologies (TSE:HEAT)
:HEAT
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Hillcrest Energy Technologies
(HEAT)
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Rating:45Neutral
Price Target:
C$0.16
▲(11.43% Upside)
Action:Reiterated
Date:05/07/26
The score is held down primarily by very weak financial performance (near-zero revenue, persistent losses, and negative equity), with only partial relief from improved 2025 cash burn. Technical indicators are broadly neutral and do not provide a strong positive catalyst, while valuation metrics are not supportive due to negative earnings and no dividend yield provided.
Positive Factors
Improved cash burn
A marked reduction in operating cash burn into 2025 materially extends runway versus 2024 and reduces immediate financing pressure. Sustained lower cash consumption improves odds of executing commercialization or reaching break-even, making strategic initiatives more deliverable over months.
Negative Factors
Near-zero revenue
A multi-year collapse to effectively zero reported revenue means no durable commercial validation of products or services. Without recurring sales, margins and unit economics remain unproven, forcing reliance on financing and making sustainable profitability unlikely without clear commercialization milestones.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved cash burn
A marked reduction in operating cash burn into 2025 materially extends runway versus 2024 and reduces immediate financing pressure. Sustained lower cash consumption improves odds of executing commercialization or reaching break-even, making strategic initiatives more deliverable over months.
Read all positive factors
Hillcrest Energy Technologies (HEAT) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$30.08M
Dividend YieldN/A
Average Volume (3M)196.16K
Price to Earnings (P/E)―
Beta (1Y)1.02
Revenue GrowthN/A
EPS Growth44.84%
CountryCA
Employees15
SectorTechnology
Sector Strength88
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-0.07
Shares Outstanding200,540,000
10 Day Avg. Volume407,773
30 Day Avg. Volume196,158
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)-2.92
Price to Sales (P/S)0.00
P/FCF Ratio-5.97
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
Hillcrest Energy Technologies Business Overview & Revenue Model
Company Description
Hillcrest Energy Technologies Ltd., a clean technology company, engages in developing high performance power conversion technologies and digital control systems for powertrains, charging applications, and grid-connected renewable energy generation...
How the Company Makes Money
Public, specific, and reliably detailed information on HEAT’s monetization model (e.g., product sales vs. licensing/royalties, engineering services, recurring software revenue, and the split of revenue by stream), as well as any material partnersh...
Hillcrest Energy Technologies Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
18
Very Negative
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 624.87K |
| Gross Profit | -278.52K | 0.00 | -294.70K | -241.32K | 28.51K |
| EBITDA | -6.13M | -10.50M | -7.77M | -6.08M | -10.89M |
| Net Income | -7.27M | -10.96M | -8.14M | -6.36M | -13.24M |
Balance Sheet | |||||
| Total Assets | 2.07M | 2.96M | 2.71M | 3.12M | 6.63M |
| Cash, Cash Equivalents and Short-Term Investments | 58.66K | 15.58K | 74.36K | 456.29K | 3.69M |
| Total Debt | 2.28M | 2.22M | 262.79K | 110.95K | 178.53K |
| Total Liabilities | 6.42M | 4.07M | 1.59M | 690.66K | 1.39M |
| Stockholders Equity | -4.35M | -1.11M | 1.12M | 2.43M | 5.25M |
Cash Flow | |||||
| Free Cash Flow | -2.13M | -7.52M | -4.60M | -5.62M | -6.97M |
| Operating Cash Flow | -2.13M | -7.52M | -4.57M | -5.43M | -4.61M |
| Investing Cash Flow | 0.00 | 0.00 | -24.04K | -54.17K | -2.36M |
| Financing Cash Flow | 2.17M | 7.49M | 4.21M | 2.25M | 10.02M |
Hillcrest Energy Technologies Technical Analysis
Positive
0.14
Price Trends
0.16
Positive
0.17
Negative
0.14
Positive
Market Momentum
>-0.01
Negative
52.12
Neutral
56.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:HEAT, the sentiment is Positive. The current price of 0.14 is below the 20-day moving average (MA) of 0.16, below the 50-day MA of 0.16, and below the 200-day MA of 0.14, indicating a bullish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 52.12 is Neutral, neither overbought nor oversold. The STOCH value of 56.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:HEAT.
Hillcrest Energy Technologies Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | C$12.56M | 9.38 | 20.37% | ― | -1.99% | -2.67% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
45 Neutral | C$30.08M | -2.36 | 279.58% | ― | ― | 44.84% | |
45 Neutral | C$3.14M | -0.33 | 340.62% | ― | 190.53% | -9.41% | |
42 Neutral | C$15.87M | -2.41 | -155.37% | ― | 32.03% | -15.62% | |
41 Neutral | C$9.19M | -3.21 | ― | ― | 28.38% | 75.30% |
* Technology Sector Average
TSE:HEAT
Hillcrest Energy Technologies
0.16
0.05
55.00%
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Hillcrest Energy Technologies Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Hillcrest Closes Shares-for-Debt Deal to Settle $524,000 in Liabilities
Neutral
Apr 7, 2026
Hillcrest Energy Technologies has closed its previously announced shares-for-debt offering, issuing 2,912,731 units at $0.18 each to settle $524,299.17 in accrued debt. Each unit comprises one common share and a warrant exercisable at $0.20 for 12...
Business Operations and StrategyPrivate Placements and Financing
Hillcrest Expands Shares-for-Debt Offering to Settle Director Fees
Positive
Mar 31, 2026
Hillcrest Energy Technologies has increased the size of its previously announced shares-for-debt unit offering from $500,000 to $550,000, priced at $0.18 per unit, each comprising one common share and a warrant exercisable at $0.20 for 12 months. ...
Business Operations and StrategyProduct-Related Announcements
Hillcrest CEO Showcases ZVS Commercialization Push in Investor Interview
Positive
Mar 19, 2026
Hillcrest Energy Technologies has highlighted its role in clean power conversion through a new investor interview featuring CEO and founder Don Currie on Stocks To Watch. The company develops advanced inverter and power conversion systems based on...
Business Operations and StrategyProduct-Related Announcements
Hillcrest Keeps High-Efficiency PCS1000 Inverter Prototype on Track for June 2026 Demos
Positive
Mar 17, 2026
Hillcrest Energy Technologies says development of its ZVS PCS1000 grid power conversion system remains on track, with a 200 kW, 1000V inverter prototype slated for customer and partner demonstrations in June 2026 at its Vancouver facility and at S...
Business Operations and Strategy
Hillcrest Launches Indigenous-Led CleanPath to Commercialize Power Tech in Canada
Positive
Mar 11, 2026
Hillcrest Energy Technologies has launched CleanPath Distribution Inc., an Indigenous-led Canadian corporation majority-owned by Pasqua First Nation #79 and supported by Apeiron Resources, to drive commercialization of its Zero Voltage Switching t...
Business Operations and Strategy
Hillcrest hires IR firm, plans investor conference appearance and grants RSUs
Positive
Mar 3, 2026
Hillcrest Energy Technologies has retained Empire Market Ventures as an investor relations consultant to run a three-month market awareness and promotional campaign aimed at retail and institutional investors. The mandate, valued at US$100,000 and...
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.