MustGrow Biologics (TSE:MGRO)
:MGRO
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MustGrow Biologics
(MGRO)
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Rating:51Neutral
Price Target:
C$0.71
▲(45.71% Upside)
Action:ReiteratedDate:01/30/26
The score is held down primarily by weak financial performance—deep losses and significant negative free cash flow—despite modest leverage. Technicals are a relative bright spot with improving short- to mid-term momentum, but valuation remains pressured by negative earnings and no indicated dividend support.
Positive Factors
Revenue Growth
Sustained double-digit TTM revenue growth indicates product traction and expanding market adoption of MustGrow's offerings. Durable top-line expansion supports scaling, channel development, and justifies continued commercial investment, provided the company can translate revenue into improved unit economics over time.
Negative Factors
Negative Cash Flow
Deeply negative operating and free cash flows signal persistent cash burn and reliance on external funding. This constrains the firm's ability to scale manufacturing, sales, and regulatory activities, increases dilution risk, and elevates execution risk if cash generation doesn't improve within the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained double-digit TTM revenue growth indicates product traction and expanding market adoption of MustGrow's offerings. Durable top-line expansion supports scaling, channel development, and justifies continued commercial investment, provided the company can translate revenue into improved unit economics over time.
Read all positive factors
MustGrow Biologics (MGRO) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$31.19M
Dividend YieldN/A
Average Volume (3M)27.52K
Price to Earnings (P/E)―
Beta (1Y)0.52
Revenue Growth51.04%
EPS Growth-2521.74%
CountryCA
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)-0.04
Shares Outstanding58,854,360
10 Day Avg. Volume43,344
30 Day Avg. Volume27,516
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)27.35
Price to Sales (P/S)149.08
P/FCF Ratio-16.58
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 ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)-0.07
Revenue Forecast (FY)C$25.00M
MustGrow Biologics Business Overview & Revenue Model
Company Description
MustGrow Biologics Corp., an agricultural biotech company, focuses om development and commercialization of natural biopesticide, biofumigants, and bioherbicides derived from mustard seed. It provides preplant soil biofumigation, a technology to tr...
How the Company Makes Money
MustGrow Biologics generates revenue primarily through the commercialization and licensing of its proprietary biopesticide and bioherbicide technologies. The company collaborates with agricultural firms and farmers to implement its solutions, earn...
MustGrow Biologics Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
46
Neutral
Cash Flow
21
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.54M | 398.02K | 4.71M | 6.48K | 12.87K | 0.00 |
| Gross Profit | 1.33M | 300.75K | 4.33M | 6.48K | 12.87K | 0.00 |
| EBITDA | -6.26M | -5.11M | -676.94K | -5.56M | -3.01M | -3.26M |
| Net Income | -6.37M | -4.89M | -676.94K | -5.57M | -3.06M | -3.36M |
Balance Sheet | ||||||
| Total Assets | 6.06M | 5.42M | 6.94M | 7.13M | 9.70M | 3.37M |
| Cash, Cash Equivalents and Short-Term Investments | 3.28M | 3.00M | 6.82M | 7.02M | 9.62M | 3.31M |
| Total Debt | 583.73K | 517.99K | 759.33K | 759.33K | 749.27K | 902.24K |
| Total Liabilities | 3.15M | 3.25M | 1.35M | 1.90M | 1.25M | 1.05M |
| Stockholders Equity | 2.91M | 2.17M | 5.58M | 5.24M | 8.46M | 2.32M |
Cash Flow | ||||||
| Free Cash Flow | -4.79M | -3.58M | -294.76K | -3.26M | -2.41M | -2.58M |
| Operating Cash Flow | -4.77M | -3.58M | -294.76K | -3.26M | -2.41M | -2.58M |
| Investing Cash Flow | -21.63K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financing Cash Flow | 4.48M | -241.34K | 95.75K | 653.75K | 8.72M | 1.86M |
MustGrow Biologics Technical Analysis
Neutral
0.49
Price Trends
0.61
Negative
0.62
Negative
0.68
Negative
Market Momentum
-0.01
Negative
48.06
Neutral
38.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MGRO, the sentiment is Neutral. The current price of 0.49 is below the 20-day moving average (MA) of 0.54, below the 50-day MA of 0.61, and below the 200-day MA of 0.68, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 48.06 is Neutral, neither overbought nor oversold. The STOCH value of 38.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:MGRO.
MustGrow Biologics Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | C$51.28B | 13.01 | 9.13% | 3.52% | 2.67% | 154.37% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | C$33.05M | -9.85 | 12.97% | ― | 4.44% | 156.52% | |
51 Neutral | C$31.19M | -3.66 | -459.98% | ― | 51.04% | -2521.74% | |
50 Neutral | C$67.61M | -15.22 | -29.75% | ― | ― | 35.92% | |
41 Neutral | C$57.94M | -4.83 | -40.67% | ― | -36.30% | 10.13% |
* Basic Materials Sector Average
TSE:MGRO
MustGrow Biologics
0.53
-0.55
-50.93%
TSE:PLAN
Progressive Planet Solutions Inc
0.30
0.15
93.55%
TSE:BEE
Bee Vectoring Technologies International
0.01
0.00
0.00%
TSE:GSP
Gensource Potash
0.15
0.06
66.67%
TSE:NPK
Verde Agritech
1.10
0.47
74.60%
TSE:NTR
Nutrien
106.59
36.97
53.11%
MustGrow Biologics Corporate Events
Business Operations and StrategyPrivate Placements and Financing
MustGrow Raises $2 Million to Expand Inventory for TerraSante and NexusBioAg Platform
Positive
Jan 23, 2026
MustGrow Biologics has closed a non-brokered listed issuer financing exemption private placement, raising $2 million through the sale of 4 million units at $0.50 each, with each unit comprising one common share and one five-year warrant exercisabl...
Business Operations and StrategyPrivate Placements and Financing
MustGrow Seeks Up to $2 Million in LIFE Financing to Scale Organic Agri-Input Inventory
Positive
Jan 8, 2026
MustGrow Biologics has launched a non-brokered listed issuer financing exemption (LIFE) private placement of up to 4 million units at $0.50 per unit, aiming to raise as much as $2 million, with each unit comprising one common share and a five-year...
Business Operations and StrategyProduct-Related Announcements
MustGrow Shifts to Commercial Phase as TerraSante Demand Surges and Capacity Expands
Positive
Dec 18, 2025
MustGrow Biologics’ CEO reports that 2025 marked a shift from product development to commercialization, led by accelerating demand for its mustard-derived TerraSante biofertility product in the U.S. and initial sales through NexusBioAg in Ca...
Business Operations and StrategyProduct-Related Announcements
MustGrow Biologics Achieves Breakthrough in Potato Yield with TerraSanteTM
Positive
Dec 10, 2025
MustGrow Biologics has reported significant success with its TerraSanteTM biofertility product in large-scale potato field trials in Washington State and Idaho. The trials demonstrated a notable increase in potato yield, size, and quality, resulti...
Business Operations and StrategyFinancial Disclosures
MustGrow Biologics Achieves Record Q3-2025 Financial Results
Positive
Nov 25, 2025
MustGrow Biologics Corp. reported record Q3-2025 financial results, with sales revenue reaching $0.8 million, marking a significant improvement from no revenue in the same quarter of the previous year. The company’s gross profit margin incre...
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.