First Helium Inc. (HELI) AI Stock Analysis

• Market Cap: C$5.35M
• Dividend Yield: N/A
• Average Volume (3M): 217.41K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.67
• Revenue Growth: -96.10%
• EPS Growth: -3.58%
• Country: CA
• Employees: N/A
• Sector: Energy
• Sector Strength: 52
• Industry: Chemicals
• EPS (TTM): >-0.01
• Shares Outstanding: 213,899,020
• 10 Day Avg. Volume: 128,760
• 30 Day Avg. Volume: 217,409
• PEG Ratio: 0.05
• Price to Book (P/B): 0.68
• Price to Sales (P/S): 8.18
• P/FCF Ratio: -3.99
• 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: 44 Neutral
• Price Target: C$0.02 ▼(-20.00% Downside)

The score is primarily weighed down by extremely weak financial performance (steep revenue decline, large losses, and ongoing cash burn), only partly offset by a low-leverage balance sheet. Technicals also remain negative with price below key moving averages and bearish MACD, while valuation is difficult to support given negative earnings and no dividend.

Positive Factors

Low Debt/Balance Sheet Strength

A debt-free balance sheet materially reduces near-term financial risk and interest burden, giving the company more runway to pursue drilling, infrastructure or partnerships. This structural strength supports flexibility in funding project advancement without immediate refinancing pressure.

Equity Cushion

A sizable equity base versus assets provides a capital cushion to absorb operating losses and support continued project work. Over many months this equity buffer preserves lender and partner confidence, improving ability to structure farm-outs, JVs or asset sales without urgent distress.

Business Model Optionality

The company’s model includes multiple durable monetization routes—production sales, project advancement, and farm-outs or asset sales—which provide strategic optionality. These pathways help convert exploration success into funding or partnerships even if direct production cash flow is limited near-term.

Negative Factors

Severe Revenue Contraction

An ~88.5% decline in trailing revenue indicates a structurally unstable top line and poor commercial momentum. Over a multi-month horizon this weak revenue base undermines the firm’s ability to scale operations, fund sustaining capex, and demonstrate consistent production economics to partners or lenders.

Persistent Losses

Sustained negative gross and operating profits erode equity and limit reinvestment capacity. If losses persist over several quarters, they force reliance on external capital, dilute existing shareholders, and can constrain the company’s ability to complete development projects or secure favorable offtake terms.

Negative Cash Flow/Cash Burn

Ongoing negative operating and free cash flow is a structural concern: it reduces internal funding for drilling and processing, shortens financial runway, and raises the need for dilutive or costly external financing. Persistent cash burn increases execution risk for development plans.

First Helium Inc. Business Overview & Revenue Model

Company Description

First Helium Inc. engages in the acquisition, exploration, and evaluation of helium property interests in Alberta, Canada. It holds 100% interest in the Worsley Trend and Worsley Property located in the Worsley Trend, Northern Alberta. First Helium Inc. was incorporated in 2016 and is headquartered in Vancouver, Canada.

How the Company Makes Money

First Helium Inc. generates revenue through the exploration and development of helium-rich properties, primarily by extracting and selling helium gas to industrial and commercial customers. The company's revenue model is based on the successful identification and commercialization of helium reserves. Key revenue streams include the sale of helium produced from its wells and potential joint ventures or partnerships with other resource developers to leverage infrastructure and market access. Factors contributing to its earnings include the global demand for helium, advancements in extraction technology, and strategic partnerships that enhance operational efficiency and market reach.

First Helium Inc. Financial Statement Overview

Summary

Income statement and cash flow are very weak (sharp revenue contraction and deep losses, with negative operating cash flow and free cash flow). The balance sheet helps somewhat with effectively no debt and meaningful equity, but ongoing losses and negative ROE raise sustainability risk.

Income Statement

TTM (Trailing-Twelve-Months) results show extremely weak operating performance: revenue is very small and down sharply (revenue growth around -88.5%), while profitability is deeply negative across the income statement (negative gross profit and large operating and net losses). Annual history shows revenue volatility (strong in 2023, then a steep decline into 2024–2025) and persistent net losses, indicating an unstable earnings profile and limited operating leverage at this stage.

Balance Sheet

The balance sheet is a relative bright spot: total debt is effectively zero in the most recent periods, and equity remains sizable versus total assets, reducing financial risk and interest burden. The key weakness is ongoing value erosion from losses, reflected in negative returns on equity (TTM return on equity roughly -49%), which can pressure equity over time if losses continue.

Cash Flow

Cash generation is weak: TTM (Trailing-Twelve-Months) operating cash flow and free cash flow are both negative, indicating the business is consuming cash rather than funding itself internally. While free cash flow tracks net loss closely in TTM (free cash flow to net income near 1.0, suggesting losses are not dramatically worse than cash burn), the overall trajectory remains unfavorable with continued cash outflows and negative free cash flow growth.

Breakdown	TTM	Dec 2024	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	20.11K	1.13M	293.00K	8.22M	3.57M	0.00
Gross Profit	-629.10K	-220.74K	-46.95K	5.75M	1.30M	-1.43K
EBITDA	-6.07M	-1.87M	-2.20M	-2.90M	-396.19K	-356.31K
Net Income	-6.13M	-3.20M	-6.75M	-6.93M	-465.84K	-523.68K
Balance Sheet
Total Assets	15.62M	16.22M	16.65M	17.07M	20.31M	15.79M
Cash, Cash Equivalents and Short-Term Investments	7.47K	157.79K	834.20K	165.27K	5.53M	3.47M
Total Debt	0.00	60.63K	0.00	140.99K	0.00	2.49M
Total Liabilities	4.02M	2.59M	5.13M	2.79M	3.55M	3.89M
Stockholders Equity	11.60M	13.63M	11.52M	14.28M	16.76M	11.90M
Cash Flow
Free Cash Flow	-1.73M	-2.32M	-2.16M	-1.43M	-3.04M	-2.00M
Operating Cash Flow	-1.79M	-2.02M	-2.13M	2.82M	-493.64K	-450.11K
Investing Cash Flow	-2.86M	-252.47K	-1.43M	-12.15M	-6.55M	-1.55M
Financing Cash Flow	4.50M	2.27M	4.23M	3.96M	2.04M	12.53M

First Helium Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.03
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:HELI, the sentiment is Negative. The current price of 0.03 is below the 20-day moving average (MA) of 0.03, below the 50-day MA of 0.03, and above the 200-day MA of 0.03, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 39.79 is Neutral, neither overbought nor oversold. The STOCH value of -16.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:HELI.

First Helium Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CHE.UN	73 Outperform	C$1.80B	16.35	14.30%	4.73%	10.20%	-11.22%
MX	66 Neutral	C$5.02B	14.46	9.35%	1.87%	-0.65%	46.15%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
GRA	51 Neutral	C$451.76M	-39.65	-10.65%	―	-11.90%	-0.32%
HELI	44 Neutral	C$5.35M	-0.87	-49.81%	―	-96.10%	-3.58%
CH	44 Neutral	C$32.41M	-4.68	―	―	-65.20%	12.85%