Hydrograph Clean Power (TSE:HG)
:HG
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Hydrograph Clean Power
(HG)
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Rating:53Neutral
Price Target:
C$6.50
▲(138.10% Upside)
Action:ReiteratedDate:03/17/26
The score is held back primarily by weak financial performance—large losses, negative gross profit, and persistent cash burn—despite strong revenue growth and a low-leverage balance sheet. Technicals are a clear positive with a strong uptrend and supportive momentum indicators, while valuation remains challenged due to negative earnings and no dividend support.
Positive Factors
Strong revenue growth
Sustained TTM revenue growth (+45.6%) signals expanding commercial traction for graphene products. Over 2–6 months this trend supports a pathway from pilot R&D orders to larger repeat sales, improving unit economics and enabling scale if customer qualification progresses.
Negative Factors
Negative gross profit & large operating losses
Negative gross profit and large operating losses indicate current unit economics fail to cover production and operating costs. Until gross margins turn positive, durable profitability is doubtful, limiting reinvestment and threatening the viability of the commercial model over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth
Sustained TTM revenue growth (+45.6%) signals expanding commercial traction for graphene products. Over 2–6 months this trend supports a pathway from pilot R&D orders to larger repeat sales, improving unit economics and enabling scale if customer qualification progresses.
Read all positive factors
Hydrograph Clean Power (HG) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$1.97B
Dividend YieldN/A
Average Volume (3M)1.62M
Price to Earnings (P/E)―
Beta (1Y)0.84
Revenue Growth331.08%
EPS Growth15.77%
CountryCA
Employees17
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)N/A
Shares Outstanding340,175,480
10 Day Avg. Volume1,572,052
30 Day Avg. Volume1,623,360
Financial Highlights & Ratios
PEG Ratio-2.99
Price to Book (P/B)40.88
Price to Sales (P/S)9903.17
P/FCF Ratio-86.58
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
Hydrograph Clean Power Business Overview & Revenue Model
Company Description
HydroGraph Clean Power Inc. manufactures and sells developing and commercializing processes to manufacture hydrogen and high-quality graphene in Canada and internationally. It engages in the exploitation of patented technology to produce graphene,...
How the Company Makes Money
Hydrograph Clean Power makes money primarily by selling graphene (and potentially other graphene-based/nanomaterial products) to customers that incorporate these materials into their own products and manufacturing processes. The company’s revenue ...
Hydrograph Clean Power Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
62
Positive
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 43.16K | 6.17K | 7.40K | 5.10K | 6.29K |
| Gross Profit | -3.22M | -51.69K | -19.08K | 1.67K | 6.29K |
| EBITDA | -7.86M | -5.02M | -4.66M | -2.76M | -1.55M |
| Net Income | -8.17M | -5.33M | -4.96M | -2.98M | -1.51M |
Balance Sheet | |||||
| Total Assets | 13.51M | 5.40M | 5.88M | 7.94M | 6.53M |
| Cash, Cash Equivalents and Short-Term Investments | 8.72M | 780.97K | 510.43K | 2.80M | 218.35K |
| Total Debt | 62.29K | 188.94K | 246.07K | 318.09K | 379.33K |
| Total Liabilities | 3.05M | 731.07K | 1.01M | 452.35K | 4.75M |
| Stockholders Equity | 10.45M | 4.67M | 4.87M | 7.49M | 2.25M |
Cash Flow | |||||
| Free Cash Flow | -4.94M | -4.16M | -4.17M | -5.42M | -1.75M |
| Operating Cash Flow | -4.77M | -4.07M | -3.55M | -3.58M | -726.68K |
| Investing Cash Flow | -449.81K | -81.43K | -620.99K | -1.84M | -1.03M |
| Financing Cash Flow | 13.15M | 4.48M | 1.82M | 2.80M | 7.54M |
Hydrograph Clean Power Technical Analysis
Neutral
2.73
Price Trends
5.90
Negative
4.47
Positive
3.15
Positive
Market Momentum
-0.03
Positive
42.13
Neutral
8.07
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:HG, the sentiment is Neutral. The current price of 2.73 is below the 20-day moving average (MA) of 7.49, below the 50-day MA of 5.90, and below the 200-day MA of 3.15, indicating a neutral trend. The MACD of -0.03 indicates Positive momentum. The RSI at 42.13 is Neutral, neither overbought nor oversold. The STOCH value of 8.07 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:HG.
Hydrograph Clean Power Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | C$2.82B | 22.34 | 28.32% | ― | 30.36% | 181.15% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
53 Neutral | C$1.97B | -49.83 | -86.76% | ― | 331.08% | 15.77% | |
48 Neutral | C$854.44M | -46.51 | -2.55% | 2.55% | 8.04% | -195.66% | |
44 Neutral | C$253.22M | -3.44 | -414.40% | ― | 6.29% | -3.71% | |
42 Neutral | C$13.17M | -2.61 | -86.94% | ― | -15.84% | -375.96% | |
42 Neutral | C$106.51M | -10.77 | -50.81% | ― | ― | 56.03% |
* Basic Materials Sector Average
TSE:HG
Hydrograph Clean Power
5.79
5.56
2417.39%
TSE:CNO
California Nanotechnologies
0.28
-0.57
-67.26%
TSE:NANO
Nano One Materials
0.89
0.17
23.61%
TSE:VNP
5N Plus
31.65
25.72
433.73%
TSE:NEO
Neo Performance Materials Inc
20.54
12.37
151.53%
TSE:GMG
Graphene Manufacturing Group Ltd
2.03
1.43
238.33%
Hydrograph Clean Power Corporate Events
Business Operations and StrategyProduct-Related Announcements
HydroGraph Strikes Sparc Deal to Advance Graphene-Enhanced Protective Coatings
Positive
Mar 24, 2026
HydroGraph Clean Power has signed a Letter of Intent with Sparc Technologies to integrate HydroGraph’s Fractal Graphene into Sparc’s ecosparc additives for protective coatings. The partnership aims to validate performance through exten...
Business Operations and StrategyProduct-Related Announcements
HydroGraph Teams With Sparc to Advance Graphene-Enhanced Protective Coatings
Positive
Mar 24, 2026
HydroGraph Clean Power has signed a letter of intent with Sparc Technologies to integrate its Fractal Graphene into Sparc’s ecosparc additives for protective coatings used on steel infrastructure in harsh environments. The companies will joi...
Business Operations and Strategy
HydroGraph Expands European Graphene Reach with Broadway Compounding Partnership
Positive
Mar 17, 2026
HydroGraph Clean Power has certified UK-based Broadway Colours as a qualified compounding partner, bolstering its commercial reach in the UK and European plastics markets for graphene-enhanced polymer materials. The certification follows rigorous ...
Business Operations and StrategyPrivate Placements and Financing
HydroGraph Raises C$30 Million to Accelerate Texas Expansion and Graphene Scale-Up
Positive
Mar 5, 2026
HydroGraph Clean Power has closed a C$29.999 million best-efforts, fully marketed brokered private placement, issuing 5,882,348 units at C$5.10 each, with each unit comprising one common share and half a warrant. The warrants are exercisable at C$...
Business Operations and StrategyPrivate Placements and Financing
HydroGraph targets C$30 million to fund Texas expansion and graphene scale-up
Positive
Feb 25, 2026
HydroGraph Clean Power has launched a best-efforts, fully marketed brokered private placement of up to 5,882,348 units at C$5.10 per unit, seeking gross proceeds of approximately C$30 million. Each unit comprises one common share and one-half warr...
Business Operations and StrategyRegulatory Filings and Compliance
HydroGraph Wins U.S., UK and EU Green Light for Commercial Graphene Sales
Positive
Feb 24, 2026
HydroGraph Clean Power has secured key regulatory clearances for its graphene materials in the United States, United Kingdom and European Union, paving the way for commercial-scale sales. The U.S. Environmental Protection Agency has issued a TSCA ...
Business Operations and StrategyExecutive/Board Changes
HydroGraph Names Veteran Finance Executive John Neale as New CFO
Positive
Feb 23, 2026
HydroGraph Clean Power has appointed John Neale as chief financial officer, effective Feb. 20, 2026, while former CFO Matt Anderson moves into the role of vice president of finance. Neale will oversee finance, legal, human resources and technology...
Business Operations and Strategy
HydroGraph Taps Hubron International to Expand Global Reach for Fractal Graphene
Positive
Feb 10, 2026
HydroGraph Clean Power has added UK-based Hubron International to its Compounding Partner Program, expanding a qualified network of plastics compounders that support the use of Fractal Graphene in thermoplastics. Hubron brings 90 years of expertis...
Business Operations and Strategy
HydroGraph to Add Two Hyperion Reactors in Texas-Focused Graphene Expansion
Positive
Jan 27, 2026
HydroGraph Clean Power is expanding its graphene production capabilities with the construction of two additional Hyperion reactors, each designed to produce around 10 tons per year of its FGA-1 ultra-pure fractal graphene using its proprietary exp...
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.