Mene (MENE) AI Stock Analysis

• Market Cap: C$56.06M
• Dividend Yield: N/A
• Average Volume (3M): 20.20K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.54
• Revenue Growth: 18.89%
• EPS Growth: -19.61%
• Country: CA
• Employees: N/A
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Luxury Goods
• EPS (TTM): 0.00
• Shares Outstanding: 150,418,170
• 10 Day Avg. Volume: 23,377
• 30 Day Avg. Volume: 20,200
• PEG Ratio: 0.59
• Price to Book (P/B): 1.68
• Price to Sales (P/S): 1.16
• P/FCF Ratio: -48.82
• 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: 62 Neutral
• Price Target: C$0.27 ▲(76.67% Upside)

The score is driven primarily by improving fundamentals (sharp revenue acceleration, stronger cash flow, and a low-leverage balance sheet) and supportive technical momentum (price above key moving averages with positive MACD). These positives are tempered by continued net losses (negative P/E) and the lack of valuation support from profitability or dividends.

Positive Factors

Revenue Acceleration

Sustained sharp top-line growth with steady high-20% gross margins indicates durable demand and pricing discipline for Mene's core products. Over a 2–6 month horizon this supports scalable unit economics and reinvestment capacity, reinforcing the direct-to-consumer model's long-term viability.

Low Financial Leverage

Extremely low debt provides material financial flexibility: it reduces interest burden, lowers refinancing risk, and preserves capacity to invest in inventory, marketing, or product development. This balance sheet conservatism supports resilience to demand shocks and strategic optionality over months to years.

Positive Operating and Free Cash Flow

Conversion to positive OCF and FCF is a durable inflection: it enables self-funding of growth initiatives, lowers dependence on external capital, and supports working-capital needs. If maintained, positive cash generation materially strengthens long-term funding flexibility and strategic execution.

Negative Factors

Ongoing Net Losses

Despite revenue traction, continuing and widening net losses indicate the business has not yet achieved operating profitability. Persistent losses undermine return generation, limit internal funding for expansion, and require sustained margin improvement or structural cost reductions to reach durable profitability.

Volatile Cash Flows

Large swings in cash generation increase execution risk: positive FCF off a depressed base may reverse with working-capital shifts or demand softening. Volatility complicates capital planning, raises financing needs during troughs, and reduces confidence in sustaining investments or distributions long term.

Negative Return on Equity

Negative ROE signals that shareholder capital is not generating positive returns, reflecting unprofitable operations. Over a multi-month horizon this constrains the company’s ability to attract equity capital on favorable terms and highlights the need for structural improvements to margins or scale to restore capital efficiency.

Mene Business Overview & Revenue Model

Company Description

Mene Inc. designs, manufactures, and markets 24 karat gold and platinum jewelry in the United States, Canada, Europe, and internationally. It offers charms, chains, bands, earrings, pendants, rings, bracelets, gifts, and medallions under the Mene brand. The company retails its jewelry products directly to consumer through its mene.com website. The company is based in Toronto, Canada.

How the Company Makes Money

Mene generates revenue primarily through direct sales of its jewelry products via its e-commerce platform. The company employs a unique pricing model that emphasizes transparency, allowing customers to see the intrinsic value of the materials used in their purchases. This direct-to-consumer approach eliminates intermediaries and traditional retail markups, enabling Mene to offer competitive pricing while maintaining healthy profit margins. Additionally, Mene may engage in partnerships with luxury brands and influencers to enhance its market reach, further driving sales through targeted marketing and collaborations.

Mene Financial Statement Overview

Summary

Revenue is up sharply year-over-year and gross margin is steady in the high-20% range, while operating cash flow and free cash flow have turned positive in TTM. Offsetting this, the company remains loss-making with widening net losses versus 2024, and cash flow has shown meaningful year-to-year volatility.

Income Statement

TTM (Trailing-Twelve-Months) revenue is up sharply versus the prior year, showing strong demand momentum, and gross margin remains steady around the high-20% range. However, profitability is still negative: operating profit and net income remain losses in TTM (Trailing-Twelve-Months), and net margin weakened versus 2024 as losses widened. Overall, top-line traction is improving, but the business has not yet converted that into consistent earnings.

Balance Sheet

The balance sheet is a clear strength: leverage is very low in TTM (Trailing-Twelve-Months) (debt-to-equity ~0.03), a major improvement from earlier years when leverage was much higher. Equity remains sizable relative to assets, which provides financial flexibility. The key weakness is returns—return on equity is negative in TTM (Trailing-Twelve-Months) due to ongoing net losses.

Cash Flow

Cash generation improved meaningfully in TTM (Trailing-Twelve-Months), with positive operating cash flow and positive free cash flow, a sharp reversal from 2024 when both were negative. Free cash flow growth is exceptionally strong off a depressed base. The main risk is volatility: cash flow has swung materially year-to-year, and profitability is still negative, which can pressure cash generation if working capital or demand shifts.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	27.99M	25.80M	23.29M	26.91M	26.77M	21.13M
Gross Profit	7.84M	7.47M	5.83M	6.64M	6.52M	5.20M
EBITDA	-859.60K	-382.00K	-1.40M	-769.00K	332.79K	-2.11M
Net Income	-1.58M	-994.00K	-1.99M	-1.46M	-32.64K	-3.35M
Balance Sheet
Total Assets	20.03M	21.05M	18.22M	31.71M	29.69M	32.95M
Cash, Cash Equivalents and Short-Term Investments	7.96M	7.57M	8.26M	13.27M	8.91M	14.43M
Total Debt	613.92K	725.30K	768.24K	12.35M	10.42M	20.22M
Total Liabilities	2.41M	3.28M	2.24M	14.25M	12.07M	21.44M
Stockholders Equity	17.62M	17.77M	15.98M	17.47M	17.62M	11.50M
Cash Flow
Free Cash Flow	2.71M	-612.41K	-868.22K	3.97M	-1.05M	-5.42M
Operating Cash Flow	2.89M	-491.58K	-854.62K	4.70M	-1.02M	-5.37M
Investing Cash Flow	-173.44K	-120.83K	11.70M	-11.51M	3.97M	10.95M
Financing Cash Flow	-227.84K	-148.60K	-3.73M	13.98K	-4.69M	-9.30M

Mene Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.15
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MENE, the sentiment is Positive. The current price of 0.15 is below the 20-day moving average (MA) of 0.18, below the 50-day MA of 0.17, and below the 200-day MA of 0.16, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 53.96 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:MENE.

Mene Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ATZ	75 Outperform	$13.20B	37.74	30.09%	―	26.51%	172.52%
GOOS	66 Neutral	C$1.68B	62.96	6.07%	―	3.78%	-54.87%
MENE	62 Neutral	C$56.06M	-32.79	-9.12%	―	18.89%	-19.61%
CKI	62 Neutral	C$303.84M	8.52	12.79%	―	9.29%	47.73%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%

Mene Corporate Events

Menē Inc. Sees Revenue Growth Amid Strategic Initiatives in Q3 2025

Menē Inc. reported a 10% increase in revenue for the third quarter of 2025, reaching $5.9 million, with a gross profit margin maintained at 30%. Despite a decrease in new customer acquisitions and orders, the company saw a 32% rise in average order value, attributed to strategic sales initiatives. Menē introduced 20 new product designs and achieved 73% of sales from returning customers, indicating strong brand loyalty. The company’s strategic focus remains on sustaining revenue growth in the US market, with ongoing efforts to enhance customer acquisition and order volumes.