Want to see FR:HDF full AI Analyst Report?
Top Page
Hydrogene de France
(HDF)
Select Model
Select Model
Rating:42Neutral
Price Target:
€2.00
▼(-27.54% Downside)
Action:Reiterated
Date:10/08/26
The score is held down primarily by weak financial performance (persistent losses, highly volatile revenue including a major 2025 contraction, and ongoing negative operating/free cash flow) and very bearish technicals (price below major moving averages with negative MACD). Low balance-sheet leverage is the main mitigating factor, but valuation remains challenged due to loss-making results and no provided dividend yield.
Positive Factors
Dispatchable clean-power model
HDF’s integrated Renewstable® model addresses the intermittency of solar and wind by storing energy as hydrogen and producing firm power through fuel cells. If projects reach operation, long-term electricity contracts could create recurring infrastructure revenue and improve business durability.
Negative Factors
Persistent losses and revenue volatility
Ongoing net losses and the severe 2025 revenue contraction show that HDF has not yet established consistent commercial scale. Volatile revenue makes earnings power difficult to assess and may constrain the company’s ability to fund expansion internally over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Dispatchable clean-power model
HDF’s integrated Renewstable® model addresses the intermittency of solar and wind by storing energy as hydrogen and producing firm power through fuel cells. If projects reach operation, long-term electricity contracts could create recurring infrastructure revenue and improve business durability.
Read all positive factors
Hydrogene de France (HDF) vs. iShares MSCI France ETF (EWQ)
Market Cap
€28.79M
Dividend YieldN/A
Average Volume (3M)8.11K
Price to Earnings (P/E)―
Beta (1Y)1.02
Revenue Growth-91.03%
EPS Growth47.04%
CountryFR
Employees118
SectorUtilities
Sector Strength65
IndustryRenewable Utilities
Share Statistics
EPS (TTM)-0.21
Shares Outstanding14,702,454
10 Day Avg. Volume9,875
30 Day Avg. Volume8,113
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)0.62
Price to Sales (P/S)51.45
P/FCF Ratio-10.05
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)-0.73
Revenue Forecast (FY)€1.10M
Hydrogene de France Business Overview & Revenue Model
Company Description
Hydrogène de France Société anonyme operates as an independent energy producer, conducting its business activities both domestically in France and across international markets. The company manages two power plants that utilize hydrogen for generat...
How the Company Makes Money
HDF Energy’s revenues are intended to come primarily from (1) long-term electricity sales from hydrogen-based power generation assets it develops and operates, and (2) sales of fuel cell power systems/equipment for mobility and power applications....
Hydrogene de France Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
74
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.14M | 998.00K | 11.13M | 3.94M | 3.46M | 885.00K |
| Gross Profit | -9.60M | -15.36M | -778.00K | 3.88M | 3.45M | 1.31M |
| EBITDA | 9.41M | 3.73M | -14.91M | -7.47M | -4.50M | -3.30M |
| Net Income | -3.11M | -5.75M | -10.86M | -7.84M | -3.37M | -3.52M |
Balance Sheet | ||||||
| Total Assets | 90.28M | 90.26M | 100.69M | 116.04M | 117.12M | 115.60M |
| Cash, Cash Equivalents and Short-Term Investments | 27.21M | 35.70M | 39.25M | 62.67M | 87.36M | 95.72M |
| Total Debt | 328.00K | 394.00K | 410.00K | 407.00K | 406.00K | 2.47M |
| Total Liabilities | 10.99M | 6.77M | 10.74M | 15.34M | 9.71M | 6.45M |
| Stockholders Equity | 79.29M | 83.38M | 89.94M | 100.69M | 107.41M | 109.14M |
Cash Flow | ||||||
| Free Cash Flow | -2.03M | -5.11M | -21.91M | -24.07M | -7.48M | -6.33M |
| Operating Cash Flow | 520.00K | -89.00K | -9.06M | -10.07M | -2.35M | -4.45M |
| Investing Cash Flow | -2.61M | -5.07M | -14.63M | -15.02M | -5.73M | -5.94M |
| Financing Cash Flow | 60.00K | -535.00K | 289.00K | 426.00K | 200.00K | 105.48M |
Hydrogene de France Technical Analysis
Negative
2.76
Price Trends
2.50
Negative
2.80
Negative
3.28
Negative
Market Momentum
-0.15
Positive
21.64
Positive
6.41
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:HDF, the sentiment is Negative. The current price of 2.76 is above the 20-day moving average (MA) of 2.19, above the 50-day MA of 2.50, and below the 200-day MA of 3.28, indicating a bearish trend. The MACD of -0.15 indicates Positive momentum. The RSI at 21.64 is Positive, neither overbought nor oversold. The STOCH value of 6.41 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:HDF.
Hydrogene de France Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
52 Neutral | €143.18M | -4.65 | ― | ― | 253.75% | 39.39% | |
42 Neutral | €28.79M | -9.32 | -3.82% | ― | -91.03% | 47.04% | |
42 Neutral | €592.82M | -4.52 | -13.52% | ― | 19.27% | -192.48% | |
39 Underperform | €6.52M | -0.07 | ― | ― | -58.32% | -641.88% |
* Utilities Sector Average
FR:HDF
Hydrogene de France
1.96
-2.11
-51.89%
FR:VLTSA
Voltalia
4.52
-3.85
-45.97%
FR:MLCMG
CMG CleanTech SA
0.16
-0.16
-49.06%
FR:ALOKW
Groupe Okwind
0.24
-0.67
-73.93%
FR:ALHAF
Haffner Energy SAS
0.77
0.52
214.75%
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.