Tidewater Renewables Ltd. (TSE:LCFS)
TSX:LCFS
Top Page
Tidewater Renewables Ltd.
(TSX:LCFS)
Select Model
Select Model
Rating:57Neutral
Price Target:
C$7.00
▼(-4.76% Downside)
Action:ReiteratedDate:03/30/26
The score is held back primarily by volatile financial performance (sharp margin compression, uneven profitability, and meaningful leverage), partially offset by strong technical momentum (price above key moving averages with positive MACD). Valuation is a detractor due to the negative P/E and lack of dividend yield data.
Positive Factors
Aligned low‑carbon business model
The company’s core model — producing renewable diesel and selling compliance credits — aligns with multi-year decarbonization policies and fuel demand shifts. That creates durable end-market demand and dual revenue streams (physical fuel + credits) that support longer-term cash generation.
Negative Factors
Volatile revenue and profitability
Large year-to-year swings in scale and net results make earnings and cash forecasts unreliable. Persistent volatility complicates capital allocation, raises financing costs and undermines investors’ ability to predict returns over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Aligned low‑carbon business model
The company’s core model — producing renewable diesel and selling compliance credits — aligns with multi-year decarbonization policies and fuel demand shifts. That creates durable end-market demand and dual revenue streams (physical fuel + credits) that support longer-term cash generation.
Read all positive factors
Tidewater Renewables Ltd. (LCFS) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$267.80M
Dividend YieldN/A
Average Volume (3M)11.21K
Price to Earnings (P/E)44.2
Beta (1Y)-1.10
Revenue Growth-30.92%
EPS GrowthN/A
CountryCA
Employees83
SectorUtilities
Sector Strength65
IndustryRenewable Utilities
Share Statistics
EPS (TTM)-0.38
Shares Outstanding36,435,000
10 Day Avg. Volume12,968
30 Day Avg. Volume11,206
Financial Highlights & Ratios
PEG Ratio-0.44
Price to Book (P/B)1.00
Price to Sales (P/S)0.62
P/FCF Ratio27.63
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$7.83Price Target Upside6.53% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.6
Revenue Forecast (FY)C$433.06M
Tidewater Renewables Ltd. Business Overview & Revenue Model
Company Description
Tidewater Renewables Ltd. engages in production of renewable fuel in North America. It intends to focus on the production of low carbon fuels, including renewable diesel, renewable hydrogen, and renewable natural gas, as well as carbon capture. Th...
How the Company Makes Money
Tidewater Renewables makes money primarily by selling low-carbon fuels and by monetizing the environmental credits/attributes associated with producing those fuels. Key revenue streams include: (1) Sales of renewable fuels: The company produces re...
Tidewater Renewables Ltd. Earnings Call Summary
Earnings Call Date:Nov 14, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Negative
The earnings call highlighted significant asset sales and debt reduction, strong operational performance at the HDRD Complex, and progress on a sustainable aviation fuel project. However, these positives were overshadowed by a significant decline in adjusted EBITDA, weak emission credit markets, and challenges related to trade remedies against U.S. imports.Positive Updates
Asset Sale and Debt Reduction
Completed a significant transaction with Tidewater Midstream, selling key assets for $122 million, which was used to reduce outstanding debt on the senior credit facility.
Negative Updates
Decline in Adjusted EBITDA
Adjusted EBITDA fell to $13.6 million in Q3 2024, down from $29.6 million in Q2 2024, due to the sale of EBITDA-generating assets and termination of take-or-pay contracts.
Read all updates
Q3-2024 Updates
Positive
Negative
Asset Sale and Debt Reduction
Completed a significant transaction with Tidewater Midstream, selling key assets for $122 million, which was used to reduce outstanding debt on the senior credit facility.
Read all positive updates
Company Guidance
During the Q3 2024 earnings call for Tidewater Renewables, the company provided significant guidance on its operations and financial performance. The company completed the sale of key assets to Tidewater Midstream, generating $122 million in cash proceeds, which were used to reduce debt. Tidewater Renewables also secured $7.7 million in BC LCFS credits from this transaction. The HDRD Complex achieved a 95% utilization rate, producing over 140 million liters of renewable diesel. The company reported adjusted EBITDA of $13.6 million for Q3, down from $29.6 million in Q2, primarily due to the asset sale. The first lien credit facility was reduced to $30 million and extended to February 2026. In addition, Tidewater Renewables is pursuing a trade remedy complaint against U.S. imports, anticipating potential duty relief by late Q2 2025. The company remains optimistic about policy support to create a level playing field with U.S. producers and continues to advance its sustainable aviation fuel project, funded by BC LCFS credits.Tidewater Renewables Ltd. Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
50
Neutral
Cash Flow
52
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 248.00M | 426.54M | 97.68M | 76.10M | 23.05M |
| Gross Profit | 18.10M | 118.15M | 44.05M | 46.13M | 8.93M |
| EBITDA | 30.00M | -404.94M | -17.12M | 62.30M | 12.11M |
| Net Income | 3.50M | -357.85M | -41.02M | 25.94M | 2.76M |
Balance Sheet | |||||
| Total Assets | 397.60M | 406.53M | 1.09B | 993.32M | 730.99M |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 44.00K | 105.00K | 11.38M | 1.02M |
| Total Debt | 199.20M | 192.98M | 345.60M | 219.37M | 81.86M |
| Total Liabilities | 242.40M | 248.75M | 573.57M | 443.20M | 215.40M |
| Stockholders Equity | 155.20M | 151.27M | 506.63M | 543.63M | 515.60M |
Cash Flow | |||||
| Free Cash Flow | 5.60M | 30.60M | -180.02M | -177.13M | -24.62M |
| Operating Cash Flow | 18.70M | 54.65M | 22.78M | 67.44M | 6.36M |
| Investing Cash Flow | -13.00M | 129.08M | -136.04M | -194.50M | -213.15M |
| Financing Cash Flow | -5.70M | -183.79M | 101.98M | 137.41M | 207.81M |
Tidewater Renewables Ltd. Technical Analysis
Positive
7.35
Price Trends
5.52
Positive
4.83
Positive
4.16
Positive
Market Momentum
0.41
Negative
71.19
Negative
81.90
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:LCFS, the sentiment is Positive. The current price of 7.35 is above the 20-day moving average (MA) of 6.58, above the 50-day MA of 5.52, and above the 200-day MA of 4.16, indicating a bullish trend. The MACD of 0.41 indicates Negative momentum. The RSI at 71.19 is Negative, neither overbought nor oversold. The STOCH value of 81.90 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:LCFS.
Tidewater Renewables Ltd. Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
57 Neutral | C$267.80M | 44.20 | 8.61% | ― | -30.92% | ― | |
46 Neutral | C$15.09M | -5.14 | -69.20% | ― | -31.40% | -354.49% | |
45 Neutral | C$51.89M | -4.88 | -24.57% | ― | -19.22% | 11.82% | |
44 Neutral | C$42.22M | -4.03 | -28.33% | ― | ― | -51.92% |
* Utilities Sector Average
TSE:LCFS
Tidewater Renewables Ltd.
7.35
4.34
144.19%
TSE:GIP
Green Impact Partners Inc
2.35
-3.30
-58.41%
TSE:REVV
ReVolve Renewable Power Corp
0.18
-0.01
-5.26%
TSE:WEB
Westbridge Energy
1.67
-0.58
-25.78%
Tidewater Renewables Ltd. Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Tidewater Renewables Swings to Profit in 2025 Amid Weaker EBITDA and Policy Tailwinds
Positive
Mar 26, 2026
Tidewater Renewables reported a wider fourth-quarter 2025 net loss of $13.8 million and negative Adjusted EBITDA as lower throughput and weaker contributions from its Rimrock Cattle joint venture weighed on results, though a completed turnaround a...
Business Operations and StrategyFinancial Disclosures
Tidewater Renewables Swings to 2025 Profit Amid Weaker EBITDA and Regulatory Tailwinds
Neutral
Mar 26, 2026
Tidewater Renewables reported a wider fourth-quarter 2025 net loss of $13.8 million and negative adjusted EBITDA as lower throughput and reduced contributions from its Rimrock Cattle Company joint venture weighed on results, though a completed tur...
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.