United Lithium (ULTH) AI Stock Analysis

• Market Cap: C$15.69M
• Dividend Yield: N/A
• Average Volume (3M): 89.25K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.33
• Revenue Growth: N/A
• EPS Growth: -4.68%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): N/A
• Shares Outstanding: 62,741,055
• 10 Day Avg. Volume: 50,669
• 30 Day Avg. Volume: 89,251
• PEG Ratio: -0.23
• Price to Book (P/B): 0.53
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -36.85
• 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: 44 Neutral
• Price Target: C$0.26 ▼(-1.15% Downside)
• Action: Reiterated Date: 03/19/26
• Date: Action: Reiterated 03/19/26

The score is primarily weighed down by weak financial performance (no revenue, ongoing losses, and negative free cash flow). Technicals also suggest a weak trend with negative MACD and the stock trading below key moving averages. The balance sheet’s very low leverage provides some stability, but valuation metrics offer limited support due to negative earnings and no dividend data.

Positive Factors

Very low leverage

Extremely low debt (TTM debt-to-equity ~0.005) reduces default and interest-rate risk for an exploration company. This durable balance-sheet strength preserves strategic optionality to fund drilling or acquisitions with equity rather than servicing large borrowings, lowering near-term financial distress risk.

Cash flow quality

Free cash flow being less negative than net income implies meaningful non-cash charges or working-capital timing effects. That pattern improves the quality of reported losses and provides a modest, lasting buffer: management may have more runway than income-statement losses imply while advancing exploration.

Reduced operating losses

A smaller recent loss versus FY2023 shows management has reduced cash burn and normalized costs. For a pre-revenue miner, sustained smaller operating deficits lower financing needs, extend project timelines, and reflect durable improvements in operational discipline over coming months.

Negative Factors

Pre-revenue profile

No revenue and negative gross profit mean the business depends on successful exploration outcomes and external capital rather than product cash flows. This structural model creates persistent uncertainty about when operations can self-fund and raises long-term dilution and execution risk.

Persistent cash burn

Ongoing negative operating and free cash flow indicate the company must rely on external funding to continue exploration. Durable cash burn pressures increase the likelihood of serial equity raises, which dilutes existing shareholders and can constrain multi-stage project development if capital markets become less accessible.

Negative returns and declining equity

Material negative ROE (~-22%) and falling equity reflect value erosion from persistent losses. Over months this structural trend undermines investor capital efficiency, weakens the balance sheet, and can make it harder to attract long-term financing on favorable terms without demonstrating resource or revenue progress.

United Lithium Business Overview & Revenue Model

Company Description

United Lithium Corp. engages in the acquisition, exploration, and evaluation of natural resource properties. It explores for lithium deposits. The company holds 100% interest in the Bergby Lithium Project, located in Sweden. It also holds an option to acquire a 100% interest in the Barbara Lake property comprising 56 mining cell claims that covers an area of approximately 2,147 hectares land in the Barbara Lake Area of the Thunder Bay Mining District, Ontario, Canada. The company was formerly known as to United Battery Metals Corp. and changed its name to United Lithium Corp. United Lithium Corp. was incorporated in 2017 and is headquartered in Vancouver, Canada.

How the Company Makes Money

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United Lithium Financial Statement Overview

Summary

Overall financials reflect a pre-revenue profile: no revenue, negative gross profit, and persistent operating/net losses. Cash flow remains negative with ongoing cash burn and negative free cash flow, increasing reliance on external funding. The main positive is a low-leverage balance sheet (very low debt-to-equity), which reduces near-term financial risk despite declining equity and negative ROE.

Income Statement

TTM (Trailing-Twelve-Months) and annual results show no revenue, with consistently negative gross profit and sizable operating losses. Net losses remain elevated (TTM net loss of about $2.6M), though the scale of losses is lower than the very large loss reported in FY2023, indicating some cost normalization. Overall, profitability is weak and the lack of a revenue base limits visibility into a path to self-funding operations.

Balance Sheet

Leverage is very low (TTM debt-to-equity ~0.005), which reduces financial risk and provides flexibility. However, equity has trended down versus earlier years and returns on equity are meaningfully negative (TTM ROE around -22%), reflecting ongoing losses and value dilution risk over time if losses persist.

Cash Flow

Cash burn remains a key issue: TTM operating cash flow is negative (about -$0.3M) and TTM free cash flow is also negative (about -$0.6M), with TTM free cash flow growth sharply negative, signaling worsening cash usage versus the prior period. A positive note is that free cash flow has generally been less negative than net income (TTM free cash flow-to-net income > 1), suggesting non-cash expenses and/or working-capital effects are supporting reported earnings quality—but the company still relies on external funding until cash flow turns positive.

Breakdown	Oct 2025	Oct 2024	Oct 2023	Oct 2022	Oct 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	-65.39K	-65.39K	-15.97K	-1.75K	―
EBITDA	-2.58M	-2.11M	-11.12M	-5.87M	0.00
Net Income	-2.67M	-2.20M	-11.13M	-6.28M	-8.68M
Balance Sheet
Total Assets	11.17M	13.18M	13.18M	15.77M	18.84M
Cash, Cash Equivalents and Short-Term Investments	291.20K	1.27M	5.01M	2.30M	8.34M
Total Debt	68.90K	109.42K	138.04K	0.00	-2.10K
Total Liabilities	352.64K	316.98K	478.61K	580.76K	667.34K
Stockholders Equity	10.81M	12.86M	12.71M	15.20M	18.17M
Cash Flow
Free Cash Flow	-155.45K	-5.72M	-4.51M	-6.07M	-6.47M
Operating Cash Flow	-155.45K	-2.11M	-1.96M	-3.42M	-6.17M
Investing Cash Flow	-780.03K	-3.60M	-2.55M	-3.06M	-549.97K
Financing Cash Flow	-38.65K	1.97M	7.22M	443.56K	14.98M

United Lithium Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.26
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ULTH, the sentiment is Negative. The current price of 0.26 is below the 20-day moving average (MA) of 0.30, below the 50-day MA of 0.32, and above the 200-day MA of 0.23, indicating a neutral trend. The MACD of -0.01 indicates Positive momentum. The RSI at 39.22 is Neutral, neither overbought nor oversold. The STOCH value of 6.35 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:ULTH.

United Lithium Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
SRA	52 Neutral	C$27.98M	-28.24	-19.47%	―	―	―
ILI	51 Neutral	C$6.81M	-721.47	-1.36%	―	―	-136.00%
ILC	49 Neutral	C$5.45M	-2.34	14.14%	―	―	―
NRM	47 Neutral	C$13.42M	-7.12	-41.21%	―	―	48.66%
LIT	45 Neutral	C$10.32M	-2.74	-26.61%	―	―	76.16%
ULTH	44 Neutral	C$15.69M	-44.91	-22.36%	―	―	-4.68%

United Lithium Corporate Events

United Lithium Files First NI 43-101 Report on Swedish Duobblon Uranium Project

United Lithium has filed an independent NI 43-101 technical report for its 100%-owned Duobblon uranium project in northern Sweden, marking the first compliant documentation since the country lifted its ban on uranium exploration and mining in 2026. The historical work outlines extensive diamond drilling, promising metallurgy and open mineralization along strike and at depth, positioning Duobblon as a potentially significant uranium asset pending modern verification.

The project benefits from proximity to Sweden’s Gold Line Belt with strong access to roads, power and mining infrastructure, which could support efficient future development if resources are confirmed. Separately, the company granted 5,125,000 stock options to directors, officers, employees and consultants at an exercise price of $0.32, reinforcing management and staff incentives as it advances its exploration portfolio.

The most recent analyst rating on (TSE:ULTH) stock is a Hold with a C$0.32 price target. To see the full list of analyst forecasts on United Lithium stock, see the TSE:ULTH Stock Forecast page.

United Lithium Expands Nordic Platform With Swedish Minerals Acquisition

United Lithium has acquired all the shares of Swedish Minerals AB for approximately $3.6 million, significantly broadening its Nordic footprint by adding a large uranium and rare earth element exploration portfolio in Finland and Sweden to its existing lithium assets. The deal includes a mix of cash and share consideration, the reconstitution of the board to add Swedish Minerals nominees Jonathon Franklin and Sebastian Bergenwall—with Franklin appointed as president—and the granting of a 1.75% net smelter return royalty on the Swedish Minerals properties to Scandinavian Resources, positioning the combined company as a leading Nordic explorer aligned with Europe’s clean energy transition and renewed focus on nuclear power.

The most recent analyst rating on (TSE:ULTH) stock is a Hold with a C$0.32 price target. To see the full list of analyst forecasts on United Lithium stock, see the TSE:ULTH Stock Forecast page.