Next Hydrogen Solutions Inc (TSE:NXH)
:NXH
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Next Hydrogen Solutions Inc
(NXH)
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Rating:45Neutral
Price Target:
C$0.59
▼(-4.10% Downside)
Action:UpgradedDate:04/07/26
The score is primarily held back by weak financial performance, driven by large ongoing losses and significant cash burn despite improving revenue and gross margin. Technicals add downside pressure with the stock trading below major moving averages and slightly negative momentum. Valuation provides only modest support with a ~29 P/E and no dividend yield data.
Positive Factors
Core market & technology focus
NXH's focus on electrolyzer technology for green hydrogen aligns with durable decarbonization trends and industrial demand for low‑carbon fuels. This structural market positioning supports multi‑year demand growth for capital equipment and recurring service opportunities, underpinning long‑term revenue potential if execution scales.
Negative Factors
Negative operating and free cash flow
Sustained large negative operating and free cash flows create persistent financing needs and increase dilution or refinancing risk. If cash burn continues, management must secure external capital, which can be costly and distract from execution, constraining the company's ability to scale operations over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Core market & technology focus
NXH's focus on electrolyzer technology for green hydrogen aligns with durable decarbonization trends and industrial demand for low‑carbon fuels. This structural market positioning supports multi‑year demand growth for capital equipment and recurring service opportunities, underpinning long‑term revenue potential if execution scales.
Read all positive factors
Next Hydrogen Solutions Inc (NXH) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$40.77M
Dividend YieldN/A
Average Volume (3M)5.14K
Price to Earnings (P/E)―
Beta (1Y)-0.46
Revenue Growth46.49%
EPS Growth42.37%
CountryCA
Employees60
SectorEnergy
Sector Strength52
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)-0.06
Shares Outstanding67,942,270
10 Day Avg. Volume4,327
30 Day Avg. Volume5,144
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)1.13
Price to Sales (P/S)4.01
P/FCF Ratio-1.56
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
Next Hydrogen Solutions Inc Business Overview & Revenue Model
Company Description
Next Hydrogen Solutions Inc. designs, manufactures, and sells water and electricity electrolyzers to generate clean hydrogen for use as an energy source. It offers commercial solutions to decarbonize transportation and industrial sectors. The comp...
How the Company Makes Money
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Next Hydrogen Solutions Inc Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
41
Neutral
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.42M | 1.36M | 951.91K | 721.59K | 177.59K |
| Gross Profit | 766.78K | -334.35K | -288.79K | -712.06K | 95.35K |
| EBITDA | -6.71M | -13.46M | -10.91M | -13.32M | -25.98M |
| Net Income | -7.65M | -14.60M | -12.01M | -14.28M | -25.01M |
Balance Sheet | |||||
| Total Assets | 28.97M | 15.46M | 25.44M | 33.73M | 48.06M |
| Cash, Cash Equivalents and Short-Term Investments | 18.52M | 3.59M | 10.91M | 22.08M | 39.20M |
| Total Debt | 8.34M | 4.68M | 1.83M | 2.04M | 2.24M |
| Total Liabilities | 16.63M | 16.83M | 12.84M | 9.82M | 10.26M |
| Stockholders Equity | 12.08M | -1.37M | 12.61M | 23.91M | 37.79M |
Cash Flow | |||||
| Free Cash Flow | -8.78M | -10.69M | -10.75M | -16.67M | -13.67M |
| Operating Cash Flow | -7.29M | -10.00M | -8.22M | -12.64M | -12.55M |
| Investing Cash Flow | -1.49M | -678.04K | -2.53M | -4.04M | -1.55M |
| Financing Cash Flow | 23.72M | 3.35M | -425.68K | -440.47K | 52.21M |
Next Hydrogen Solutions Inc Technical Analysis
Positive
0.61
Price Trends
0.59
Positive
0.59
Positive
0.56
Positive
Market Momentum
>-0.01
Positive
52.02
Neutral
16.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NXH, the sentiment is Positive. The current price of 0.61 is above the 20-day moving average (MA) of 0.58, above the 50-day MA of 0.59, and above the 200-day MA of 0.56, indicating a bullish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 52.02 is Neutral, neither overbought nor oversold. The STOCH value of 16.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:NXH.
Next Hydrogen Solutions Inc Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
60 Neutral | C$4.16B | 30.95 | 1.09% | ― | -5.59% | -104.09% | |
53 Neutral | C$1.10B | -10.77 | -14.67% | ― | 1.18% | 62.71% | |
47 Neutral | C$101.24M | -4.02 | 161.82% | ― | -6.83% | 46.97% | |
47 Neutral | C$341.48M | 23.33 | 41.08% | 3.06% | -18.71% | -845.27% | |
45 Neutral | C$40.77M | -1.79 | ― | ― | 46.49% | 42.37% | |
42 Neutral | C$14.74M | -10.71 | -2.57% | ― | -1.50% | -180.73% |
* Energy Sector Average
TSE:NXH
Next Hydrogen Solutions Inc
0.60
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Next Hydrogen Solutions Inc Corporate Events
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresPrivate Placements and Financing
Next Hydrogen Narrows Losses, Boosts Cash as It Scales Electrolyzer Business
Positive
Mar 31, 2026
Next Hydrogen Solutions Inc. reported 2025 revenue of $3.4 million, more than doubling the prior year, while narrowing its annual net loss to $7.7 million as cost-management efforts took hold. The company’s cash balance rose to $18.5 million...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Next Hydrogen Details Debt Settlements and Equity Moves in Private Placement Update
Neutral
Mar 21, 2026
Next Hydrogen Solutions has provided an update on its non-brokered private placement of common shares at CAD$0.45 completed in December 2025, which included settling insider loan debt and certain debentures through share issuances. The company exc...
Business Operations and Strategy
Next Hydrogen Wins $3.75 Million Nuclear Electrolyzer Contracts
Positive
Mar 11, 2026
Next Hydrogen Solutions Inc. has secured two contracts worth a combined $3.75 million to demonstrate its electrolyzer technology in a highly specialized nuclear application. The company will supply a customized electrolyzer system engineered to me...
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.