MustGrow Biologics (TSE:MGRO)
:MGRO
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MustGrow Biologics
(MGRO)
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Rating:47Neutral
Price Target:
C$0.49
▲(0.61% Upside)
Action:Reiterated
Date:05/01/26
The score is held down primarily by weak financial quality—large operating losses, low margins, and substantial ongoing cash burn—despite strong TTM revenue growth and modest leverage. Technicals are neutral with only slight positive momentum, while valuation is constrained by negative earnings and no stated dividend yield.
Positive Factors
Strong TTM Revenue Growth
A nearly tenfold rise in TTM revenue demonstrates successful early commercialization and meaningful customer adoption of MustGrow's biologic products. If sustained, this growth can expand scale, enable margin improvement through operating leverage, and validate the product-market fit needed for longer-term profitability.
Negative Factors
Very Weak Profitability
Persistently low gross margins and deep operating losses indicate the current business mix and pricing lack the unit economics needed for sustainable profitability. Without significant margin expansion or cost reduction, continued losses will erode shareholder equity and limit reinvestment capacity over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong TTM Revenue Growth
A nearly tenfold rise in TTM revenue demonstrates successful early commercialization and meaningful customer adoption of MustGrow's biologic products. If sustained, this growth can expand scale, enable margin improvement through operating leverage, and validate the product-market fit needed for longer-term profitability.
Read all positive factors
MustGrow Biologics (MGRO) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$33.55M
Dividend YieldN/A
Average Volume (3M)27.52K
Price to Earnings (P/E)―
Beta (1Y)0.45
Revenue Growth1981.95%
EPS Growth-40.13%
CountryCA
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)-0.13
Shares Outstanding58,854,360
10 Day Avg. Volume43,344
30 Day Avg. Volume27,516
Financial Highlights & Ratios
PEG Ratio-0.13
Price to Book (P/B)39.49
Price to Sales (P/S)4.13
P/FCF Ratio-5.22
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)-0.07
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
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MustGrow Biologics Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
45
Neutral
Cash Flow
20
Very Negative
| Breakdown | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 8.29M | 398.02K | 4.71M | 6.48K | 12.87K |
| Gross Profit | 1.41M | 300.75K | 4.33M | 6.48K | 12.87K |
| EBITDA | -6.20M | -5.11M | -676.94K | -5.56M | -3.01M |
| Net Income | -7.26M | -4.89M | -676.94K | -5.57M | -3.06M |
Balance Sheet | |||||
| Total Assets | 3.09M | 5.42M | 6.94M | 7.13M | 9.70M |
| Cash, Cash Equivalents and Short-Term Investments | 918.77K | 3.00M | 6.82M | 7.02M | 9.62M |
| Total Debt | 584.13K | 517.99K | 759.33K | 759.33K | 749.27K |
| Total Liabilities | 2.23M | 3.25M | 1.35M | 1.90M | 1.25M |
| Stockholders Equity | 867.10K | 2.17M | 5.58M | 5.24M | 8.46M |
Cash Flow | |||||
| Free Cash Flow | -6.56M | -3.58M | -294.76K | -3.26M | -2.41M |
| Operating Cash Flow | -5.06M | -3.58M | -294.76K | -3.26M | -2.41M |
| Investing Cash Flow | -1.50M | 0.00 | 0.00 | 0.00 | 0.00 |
| Financing Cash Flow | 4.48M | -241.34K | 95.75K | 653.75K | 8.72M |
MustGrow Biologics Technical Analysis
Positive
0.49
Price Trends
0.56
Positive
0.60
Negative
0.63
Negative
Market Momentum
>-0.01
Negative
52.68
Neutral
53.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MGRO, the sentiment is Positive. The current price of 0.49 is below the 20-day moving average (MA) of 0.56, below the 50-day MA of 0.56, and below the 200-day MA of 0.63, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 52.68 is Neutral, neither overbought nor oversold. The STOCH value of 53.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | C$36.90M | -9.85 | 12.97% | ― | 9.98% | 101.08% | |
61 Neutral | C$46.60B | 70.49 | 9.49% | 3.52% | 8.02% | 363.69% | |
52 Neutral | C$70.22M | -12.59 | -24.54% | ― | ― | 20.00% | |
47 Neutral | C$33.55M | -4.42 | -459.98% | ― | 1981.95% | -40.13% | |
42 Neutral | C$47.98M | -4.12 | -49.69% | ― | -20.39% | 1.91% |
* Basic Materials Sector Average
TSE:MGRO
MustGrow Biologics
0.57
-0.35
-38.04%
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MustGrow Biologics Corporate Events
Business Operations and StrategyPrivate Placements and Financing
MustGrow Shutters NexusBioAg to Ramp Up TerraSante Growth in U.S. and Abroad
Positive
Apr 7, 2026
MustGrow Biologics will shut down its wholly owned Canadian marketing and distribution arm NexusBioAg by April 15, 2026, exiting a lower-margin business that focused on reselling third-party products to Canadian farmers. The move reflects a strate...
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.