Next Hydrogen Solutions Inc (TSE:NXH)
:NXH
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Next Hydrogen Solutions Inc
(NXH)
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Rating:42Neutral
Price Target:
C$0.59
▼(-3.93% Downside)
Action:Reiterated
Date:04/16/26
The score is primarily held back by weak financial performance—large losses and persistent negative operating/free cash flow despite improving revenue and gross margin. Technicals are also soft with price below major moving averages and a negative MACD. Valuation is constrained by unprofitability (negative P/E) and no dividend data.
Positive Factors
Revenue growth and gross margin improvement
Rising revenue and sharply improved gross margin signal improving unit economics and early product-market fit. Over the next 2–6 months, sustained margin gains can translate into operating leverage as sales scale, improving competitiveness on price and enabling reinvestment in product and delivery.
Negative Factors
Material negative operating and free cash flow
Large ongoing cash burn means the business will need external financing to fund operations and scaling. Over a 2–6 month horizon this elevates dilution and execution risk, constrains capital allocation for manufacturing scale-up, and can limit ability to win long-term customer commitments requiring capital-backed assurances.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth and gross margin improvement
Rising revenue and sharply improved gross margin signal improving unit economics and early product-market fit. Over the next 2–6 months, sustained margin gains can translate into operating leverage as sales scale, improving competitiveness on price and enabling reinvestment in product and delivery.
Read all positive factors
Next Hydrogen Solutions Inc (NXH) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$37.37M
Dividend YieldN/A
Average Volume (3M)5.14K
Price to Earnings (P/E)―
Beta (1Y)-0.41
Revenue Growth203.10%
EPS Growth61.70%
CountryCA
Employees60
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)-0.32
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
Negative
0.61
Price Trends
0.57
Negative
0.57
Negative
0.56
Negative
Market Momentum
>-0.01
Positive
46.24
Neutral
33.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NXH, the sentiment is Negative. The current price of 0.61 is above the 20-day moving average (MA) of 0.56, above the 50-day MA of 0.57, and above the 200-day MA of 0.56, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 46.24 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:NXH.
Next Hydrogen Solutions Inc Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | C$334.14M | 1.47 | 41.06% | 3.06% | -10.76% | 70.66% | |
60 Neutral | C$4.66B | 30.95 | 1.09% | ― | 1.80% | -79.55% | |
59 Neutral | C$2.43B | -16.17 | -13.49% | ― | 45.35% | 73.20% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | C$14.74M | -17.77 | -2.57% | ― | -14.47% | -235.13% | |
42 Neutral | C$37.37M | -2.29 | ― | ― | 203.10% | 61.70% | |
42 Neutral | C$63.09M | -26.63 | 117.66% | ― | -4.59% | -68.97% |
* General Sector Average
TSE:NXH
Next Hydrogen Solutions Inc
0.54
-0.13
-19.40%
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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.