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Evolution Metals & Technologies
(NASDAQ:EMAT)
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Rating:45Neutral
Price Target:
$3.50
▼(-11.17% Downside)
Action:Reiterated
Date:08/27/26
The score is held down primarily by very weak financials (large losses, persistent cash burn, and negative equity), which dominate the risk profile. Technicals also remain pressured with the stock below longer-term averages and a negative MACD. Corporate events provide a partial offset due to strategic capacity and supply-chain progress, but financing dependence keeps overall risk elevated.
Positive Factors
Pohang Capacity Expansion
The planned Pohang expansion could materially increase manufacturing scale, while KEPCO funding about 90% of related infrastructure and a conditional $20.7M grant may reduce capital burden. Successful execution would strengthen EM&T’s position in non-China magnet supply.
Negative Factors
Severe Operating Losses
Extremely weak profitability indicates that operating costs or other charges currently overwhelm gross profit. Without a credible path to positive operating earnings, future expansion may not translate into durable cash generation or financial self-sufficiency.
Read all positive and negative factors
Positive Factors
Negative Factors
Pohang Capacity Expansion
The planned Pohang expansion could materially increase manufacturing scale, while KEPCO funding about 90% of related infrastructure and a conditional $20.7M grant may reduce capital burden. Successful execution would strengthen EM&T’s position in non-China magnet supply.
Read all positive factors
Evolution Metals & Technologies (EMAT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.09B
Dividend Yield9.44%
Average Volume (3M)1.30K
Price to Earnings (P/E)―
Beta (1Y)-0.22
Revenue GrowthN/A
EPS Growth-90.71%
CountryUS
Employees9
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)N/A
Shares Outstanding621,800,660
10 Day Avg. Volume912
30 Day Avg. Volume1,300
Financial Highlights & Ratios
PEG Ratio-36.67
Price to Book (P/B)-1.16K
Price to Sales (P/S)0.00
P/FCF Ratio-4.91K
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$15.00Price Target Upside280.71% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Evolution Metals & Technologies Business Overview & Revenue Model
Company Description
Evolution Metals & Technologies Corp. operates as a critical materials and technology company. The company provides rare earth magnet-related products; battery metals production; and other recycling operations. It also produces and develops rare e...
Evolution Metals & Technologies Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
14
Very Negative
Cash Flow
10
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.52M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 330.00K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -18.73M | -2.04M | -1.58M | -37.65K | -2.21M | -68.60K |
| Net Income | -452.97M | -1.79M | -899.93K | -54.32K | -2.39M | -68.60K |
Balance Sheet | ||||||
| Total Assets | 95.08M | 6.61M | 12.27M | 21.96M | 5.04M | 76.53M |
| Cash, Cash Equivalents and Short-Term Investments | 5.25M | 4.02K | 1.19K | 5.93K | 65.38K | 1.20M |
| Total Debt | 21.27M | 5.16M | 4.04M | 26.63M | 5.93M | 0.00 |
| Total Liabilities | 113.94M | 12.22M | 10.93M | 30.99M | 6.43M | 2.77M |
| Stockholders Equity | -18.85M | -5.61M | 1.34M | -9.03M | -1.40M | 73.77M |
Cash Flow | ||||||
| Free Cash Flow | -22.92M | -1.33M | -1.46M | -20.76M | -677.89K | -260.82K |
| Operating Cash Flow | -15.18M | -1.33M | -1.46M | -8.64M | -677.89K | -260.82K |
| Investing Cash Flow | -1.50M | 6.07M | 12.32M | -12.12M | -3.82M | -75.00M |
| Financing Cash Flow | 10.94M | -4.74M | -11.03M | 20.70M | 3.82M | 76.46M |
Evolution Metals & Technologies Risk Analysis
Evolution Metals & Technologies disclosed 3 risk factors in its most recent earnings report. Evolution Metals & Technologies reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Evolution Metals & Technologies Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $4.92B | 56.72 | 9.41% | 0.23% | 21.56% | 454.16% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | $10.56B | -172.70 | -2.66% | ― | 71.92% | 44.39% | |
54 Neutral | $4.70B | -8.01 | -23.45% | ― | ― | -270.60% | |
46 Neutral | $797.77M | -12.84 | -35.30% | ― | ― | -48.46% | |
45 Neutral | $2.09B | -3.14 | 3277.89% | 9.44% | ― | -90.71% | |
45 Neutral | $630.39M | -6.09 | -21.43% | ― | ― | -265.11% |
* Basic Materials Sector Average
EMAT
Evolution Metals & Technologies
3.17
-8.46
-72.73%
MTRN
Materion
246.15
135.58
122.62%
NB
NioCorp Developments
4.37
-0.21
-4.59%
MP
MP Materials
59.03
-14.47
-19.69%
IPX
Iperionx Ltd. ADR
22.44
-21.94
-49.44%
USAR
USA Rare Earth
19.25
3.83
24.84%
Evolution Metals & Technologies Corporate Events
Business Operations and Strategy
Evolution Metals Expands Pohang Power and Magnet Capacity
Positive
Aug 27, 2026
On August 27, 2026, Evolution Metals Technologies announced agreement on principal terms with Korea Electric Power Corporation to expand power capacity for its Pohang, South Korea operations from 130 megawatts to 750 megawatts and secure a right ...
Business Operations and StrategyDelistings and Listing Changes
Evolution Metals eyes inclusion in key Russell indexes
Positive
Aug 24, 2026
On August 24, 2026, Evolution Metals Technologies announced it had been named to FTSE Russell’s preliminary lists for addition to the broad-market Russell 3000 Index and small-cap Russell 2000 Index, with potential inclusion effective Septe...
Business Operations and StrategyPrivate Placements and Financing
Evolution Metals Highlights Convertible Debenture Financing Dependence
Negative
Aug 24, 2026
As of August 23, 2026, Evolution Metals Technologies Corp. had issued $25.775 million in convertible debentures to YA II PN, Ltd., of which $5.775 million had been converted, leaving $20 million in principal outstanding. This financing structure ...
Business Operations and StrategyExecutive/Board Changes
Evolution Metals Adds Defense Leader to Board, Enhancing Governance
Positive
Aug 13, 2026
On August 13, 2026, Evolution Metals Technologies appointed retired U.S. Air Force General Thomas A. Bussiere, former Commander of Air Force Global Strike Command and former Deputy Commander of U.S. Strategic Command, as an independent director a...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
Evolution Metals bolsters magnet production leadership with veteran hire
Positive
Aug 10, 2026
On August 7, 2026, Evolution Metals Technologies appointed industry veteran Kenji Konishi as Head of Magnet Engineering Production, bringing with him a core team of senior Japanese magnet-manufacturing experts from leading global producers. Konis...
Business Operations and StrategyRegulatory Filings and Compliance
Evolution Metals advances ex-China rare earth magnet supply
Positive
Jul 22, 2026
On July 22, 2026, Evolution Metals Technologies announced receipt of its first five-metric-ton shipment of neodymium-praseodymium metal from SRE Vietnam under a supply agreement with Senri Trading. The non-China NdPr feedstock will be converted i...
Business Operations and Strategy
Evolution Metals secures non-China rare earth supply
Positive
Jul 7, 2026
On July 7, 2026, Evolution Metals Technologies Corp. announced a supply agreement with Senri Trading Co. to purchase bulk neodymium-praseodymium metal from SRE Vietnam, a subsidiary of Japan’s Tokai Trading, entirely from non-China sources ...
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.