Helium Evolution Incorporated (TSE:HEVI)
:HEVI
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Helium Evolution Incorporated
(HEVI)
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Rating:46Neutral
Price Target:
C$0.12
▼(-26.25% Downside)
Action:ReiteratedDate:12/30/25
The score is held down primarily by weak financial performance (pre-revenue/losses and significant cash burn, alongside higher recent leverage) and a bearish technical trend. Offsetting these negatives, corporate milestones (facility start-up and first commercial sales) improve the outlook, but valuation support is limited given ongoing losses and no dividend.
Positive Factors
Commercial production milestone
The Soda Lake facility start-up and initial commercial sales represent a structural transition from development to operating asset. This de-risks the business model, validates production capability, and establishes a pathway to recurring revenue and scale if production and offtake continue.
Negative Factors
Pre-revenue with sustained losses
The firm remains in a pre-revenue, loss-making phase with a TTM net loss (~3.35M) and recurring operating deficits. Structurally, continued losses imply ongoing funding needs and delay the point at which the business can self-finance growth or fund returns to investors.
Read all positive and negative factors
Positive Factors
Negative Factors
Commercial production milestone
The Soda Lake facility start-up and initial commercial sales represent a structural transition from development to operating asset. This de-risks the business model, validates production capability, and establishes a pathway to recurring revenue and scale if production and offtake continue.
Read all positive factors
Helium Evolution Incorporated (HEVI) vs. iShares MSCI Canada ETF (EWC)
Market Cap
N/A
Dividend YieldN/A
Average Volume (3M)61.36K
Price to Earnings (P/E)―
Beta (1Y)0.65
Revenue GrowthN/A
EPS Growth-21.60%
CountryCA
Employees4
SectorTechnology
Sector Strength88
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-0.01
Shares Outstanding140,125,050
10 Day Avg. Volume90,484
30 Day Avg. Volume61,359
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)1.09
Price to Sales (P/S)0.00
P/FCF Ratio-3.97
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)-0.01
Revenue Forecast (FY)C$37.16M
Helium Evolution Incorporated Business Overview & Revenue Model
Company Description
Helium Evolution Incorporated engages in the exploration and production of helium in southern Saskatchewan. The company is headquartered in Calgary, Canada....
How the Company Makes Money
HEVI makes money through the exploration and extraction of helium gas, which is then sold to industries requiring helium for applications such as medical imaging, electronics manufacturing, and scientific research. The company's revenue streams pr...
Helium Evolution Incorporated Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
38
Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -21.00K | -27.00K | 0.00 | -51.00K | -10.00K | 0.00 |
| EBITDA | -3.33M | -1.55M | -3.18M | -6.22M | -1.40M | -139.78K |
| Net Income | -3.35M | -1.39M | -2.95M | -7.36M | -1.41M | -170.87K |
Balance Sheet | ||||||
| Total Assets | 21.95M | 10.60M | 11.64M | 13.02M | 13.67M | 219.60K |
| Cash, Cash Equivalents and Short-Term Investments | 8.56M | 3.83M | 6.33M | 9.13M | 171.00K | 830.00 |
| Total Debt | 8.40M | 22.00K | 43.00K | 29.00K | 33.00K | 256.41K |
| Total Liabilities | 10.29M | 906.00K | 872.00K | 226.00K | 12.53M | 494.85K |
| Stockholders Equity | 11.66M | 9.70M | 10.77M | 12.80M | 1.14M | -275.25K |
Cash Flow | ||||||
| Free Cash Flow | -9.56M | -2.66M | -3.23M | -7.56M | -1.10M | -2.27K |
| Operating Cash Flow | -900.00K | -729.00K | -346.00K | -1.44M | -498.00K | -2.27K |
| Investing Cash Flow | -7.87M | -1.74M | -2.43M | -7.08M | -601.00K | 0.00 |
| Financing Cash Flow | 12.90M | -31.00K | -20.00K | 17.48M | 1.27M | 0.00 |
Helium Evolution Incorporated Technical Analysis
Neutral
0.16
Price Trends
0.16
Positive
0.16
Positive
0.18
Positive
Market Momentum
0.02
Positive
48.92
Neutral
20.83
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:HEVI, the sentiment is Neutral. The current price of 0.16 is below the 20-day moving average (MA) of 0.20, below the 50-day MA of 0.16, and below the 200-day MA of 0.18, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 48.92 is Neutral, neither overbought nor oversold. The STOCH value of 20.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:HEVI.
Helium Evolution Incorporated Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | C$380.82M | -54.27 | -3.42% | ― | -15.50% | -58.23% | |
47 Neutral | C$119.98M | -1.69 | -10.07% | ― | 19.15% | 43.88% | |
46 Neutral | ― | -4.01 | -14.79% | ― | ― | -21.60% | |
44 Neutral | C$391.50M | -8.74 | -81.43% | ― | 5.13% | 61.58% | |
43 Neutral | C$4.16M | -0.18 | -94.67% | ― | ― | ― | |
| ― | C$22.04M | -1.23 | -274.20% | ― | -36.75% | -275.73% |
* Technology Sector Average
TSE:HEVI
Helium Evolution Incorporated
0.19
-0.01
-5.00%
TSE:CVVY
Pieridae Energy
1.31
0.99
309.38%
TSE:GASX
NG Energy International
1.46
0.65
80.25%
TSE:QEC
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13.82%
TSE:TCF
Trillion Energy International
0.02
>-0.01
-33.33%
TSE:ALTU
Total Helium Ltd
0.32
0.17
111.41%
Helium Evolution Incorporated Corporate Events
Business Operations and StrategyExecutive/Board Changes
Helium Evolution Grants 1.4 Million Stock Options to New CEO Malcolm Adams
Positive
Feb 2, 2026
Helium Evolution has granted 1.4 million stock options to newly appointed President, Chief Executive Officer and Director Malcolm Adams as part of his compensation package, with each option exercisable at $0.125 per share and vesting in 20% increm...
Business Operations and StrategyExecutive/Board Changes
Helium Evolution Names Malcolm Adams CEO to Drive Next Phase of Growth
Positive
Jan 26, 2026
Helium Evolution Incorporated has appointed industry veteran Malcolm Adams as its new president, chief executive officer and director, effective February 1, 2026, marking a significant leadership transition for the Saskatchewan-focused helium expl...
Business Operations and StrategyExecutive/Board Changes
Helium Evolution Names Malcolm Adams President and CEO to Drive Next Growth Phase
Positive
Jan 26, 2026
Helium Evolution Incorporated has appointed Malcolm Adams as its new president, chief executive officer and director, effective February 1, 2026, marking a leadership transition as the company advances its growth strategy in southern Saskatchewan....
Business Operations and Strategy
Helium Evolution Pools Saskatchewan Helium Acreage With NAH and Advances Seismic-Driven Growth Plans
Positive
Jan 19, 2026
Helium Evolution has entered a pooling agreement with North American Helium covering roughly 40,000 acres in the Grasslands/Mankota area, with working interests set at 51% for NAH and 49% for Helium Evolution on the pooled lands, and has launched ...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Helium Evolution Reports Q3 2025 Financials and Milestones
Positive
Nov 18, 2025
Helium Evolution Incorporated announced the filing of its third-quarter 2025 financial results, highlighting significant milestones that position the company for future growth. Key achievements include securing $8.3 million in convertible note fin...
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.