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EQTEC plc
(LSE:FORG)
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Rating:42Neutral
Price Target:
0.06 p
▲(480.00% Upside)
Action:Reiterated
Date:01/30/26
The score is primarily held down by weak financial performance (ongoing losses, leverage, and negative cash flow). Technicals add further pressure due to a persistent downtrend, while valuation provides limited support given the negative P/E and lack of dividend data.
Positive Factors
Proprietary gasification technology
EQTEC's proprietary gasification and energy recovery platform is a durable competitive asset: it enables conversion of diverse waste feedstocks into syngas for power, heat, or fuels. This technical moat supports licensing, project supply chains, and long-term demand from decarbonisation and circular-economy trends.
Negative Factors
Declining revenue and losses
Sustained revenue declines and persistent negative operating margins erode internal funding capacity and signal structural challenges in commercial adoption or pricing. Over months this impairs reinvestment into R&D and project pipelines and increases reliance on external financing to sustain operations.
Read all positive and negative factors
Positive Factors
Negative Factors
Proprietary gasification technology
EQTEC's proprietary gasification and energy recovery platform is a durable competitive asset: it enables conversion of diverse waste feedstocks into syngas for power, heat, or fuels. This technical moat supports licensing, project supply chains, and long-term demand from decarbonisation and circular-economy trends.
Read all positive factors
EQTEC plc (FORG) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£4.35M
Dividend YieldN/A
Average Volume (3M)551.55M
Price to Earnings (P/E)―
Beta (1Y)-1.43
Revenue Growth-57.56%
EPS Growth63.30%
CountryUK
Employees28
SectorIndustrials
Sector Strength72
IndustryDiversified Utilities
Share Statistics
EPS (TTM)-0.04
Shares Outstanding44,416,020,000
10 Day Avg. Volume455,174,558
30 Day Avg. Volume551,548,998
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.22
Price to Sales (P/S)0.75
P/FCF Ratio-0.43
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)0.99
Revenue Forecast (FY)£25.60M
EQTEC plc Business Overview & Revenue Model
Company Description
EQTEC plc licenses and sells its proprietary gasification technology that generates green energy from waste, biomass, and plastics primarily in Ireland, Spain, and the United Kingdom. The company's gasification technology produces energy from vari...
How the Company Makes Money
EQTEC generates revenue through the sale and licensing of its proprietary gasification technology, as well as through the development and operation of energy projects that utilize its systems. Key revenue streams include project development fees, ...
EQTEC plc Financial Statement Overview
Summary
Income Statement
30
Negative
Balance Sheet
45
Neutral
Cash Flow
25
Negative
| Breakdown | Jun 2025 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.20M | 2.55M | 7.97M | 9.17M | 2.23M |
| Gross Profit | 1.16M | 372.63K | 967.76K | 1.63M | 255.74K |
| EBITDA | -16.72M | -22.29M | -9.48M | -2.70M | -4.60M |
| Net Income | -19.42M | -23.51M | -10.53M | -4.70M | -5.76M |
Balance Sheet | |||||
| Total Assets | 13.70M | 29.62M | 49.62M | 50.56M | 29.70M |
| Cash, Cash Equivalents and Short-Term Investments | 306.93K | 262.02K | 1.69M | 6.45M | 6.39M |
| Total Debt | 6.63M | 5.55M | 6.23M | 257.71K | 1.21M |
| Total Liabilities | 8.69M | 8.40M | 12.49M | 7.18M | 4.40M |
| Stockholders Equity | 7.43M | 23.52M | 39.39M | 45.76M | 27.52M |
Cash Flow | |||||
| Free Cash Flow | -3.90M | -5.43M | -11.00M | -8.54M | -3.71M |
| Operating Cash Flow | -3.90M | -5.41M | -10.34M | -7.54M | -3.54M |
| Investing Cash Flow | 2.66M | 158.85K | -4.34M | -8.88M | -1.52M |
| Financing Cash Flow | 1.39M | 3.68M | 9.93M | 16.60M | 10.73M |
EQTEC plc Technical Analysis
Negative
0.01
Price Trends
0.01
Negative
0.02
Negative
0.05
Negative
Market Momentum
>-0.01
Negative
41.70
Neutral
50.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:FORG, the sentiment is Negative. The current price of 0.01 is above the 20-day moving average (MA) of <0.01, below the 50-day MA of 0.01, and below the 200-day MA of 0.05, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 41.70 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:FORG.
EQTEC plc Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
53 Neutral | £125.30M | -4.31 | -39.44% | ― | 63.15% | 23.46% | |
45 Neutral | £10.76M | -5.25 | -63.74% | ― | 146.84% | 36.36% | |
44 Neutral | £12.12M | -15.00 | -45.36% | ― | ― | -38.46% | |
42 Neutral | £4.35M | -0.01 | -254.86% | ― | -57.56% | 63.30% | |
40 Underperform | £13.36M | -0.75 | -77.92% | ― | ― | ― |
* Industrials Sector Average
GB:FORG
EQTEC plc
0.01
-0.41
-97.41%
GB:IES
Invinity Energy Systems
21.75
-0.45
-2.03%
GB:PHE
Powerhouse Energy
0.21
-0.39
-65.00%
GB:HUI
Hydrogen Utopia International PLC
2.45
1.25
104.17%
GB:CPH2
Clean Power Hydrogen PLC
1.35
-3.70
-73.27%
EQTEC plc Corporate Events
Business Operations and Strategy
Forgent’s Peak Hill Drilling Uncovers New Gold Corridor and Accelerates Phase 2 Exploration
Positive
Jul 27, 2026
Forgent plc reported encouraging assay results from its maiden Phase 1 drilling campaign at the Peak Hill Gold-Copper Project in Western Australia, confirming multiple zones of shallow gold mineralisation and validating historical exploration data...
Business Operations and StrategyShareholder Meetings
Forgent plc Seeks Shareholder Backing for Strategic Pivot to Australian Metals
Positive
Jul 10, 2026
Forgent plc, traded on AIM, is pivoting from its historic role as a clean tech and waste-to-energy gasification specialist toward a mining-led energy transition model focused on critical and precious metals in Western Australia. The group has alre...
Business Operations and Strategy
Forgent Completes Phase 1 Drilling at Peak Hills Gold-Copper Project
Positive
Jul 7, 2026
Forgent plc has completed Phase 1 drilling at its Peak Hills gold-copper project in Western Australia, advancing work across the Karalundi, Junction and Curleys prospects. The programme aimed to validate historic exploration, extend known minerali...
Business Operations and Strategy
Forgent Launches Maiden Drilling at Peak Hills Gold-Copper Project
Positive
Jun 22, 2026
Forgent plc has commenced its maiden drilling campaign at the Peak Hills gold-copper project in Western Australia, a 163 km² exploration area across five granted tenements. The company currently owns 51% of the project, with an option to lift...
Business Operations and Strategy
Forgent Mobilises Drill Rig for Peak Hills Gold-Copper Campaign in Western Australia
Positive
Jun 19, 2026
Forgent plc has mobilised a drill rig to its Peak Hills gold-copper project in Western Australia, initiating a Phase 1 aircore drilling programme aimed at multiple high-priority targets. The company plans around 42 drill holes to a depth of up to ...
Business Operations and Strategy
Forgent Plans Live Investor Presentation to Engage Shareholders
Positive
Jun 16, 2026
Forgent plc will host a live audio investor presentation via the Investor Meet Company platform on 17 June 2026 at 14:00 BST, open to both existing and potential shareholders who can register online. The event underscores Forgent’s efforts t...
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresPrivate Placements and Financing
Forgent pivots from pure energy transition to Australian mining-led growth
Positive
Jun 16, 2026
Forgent reported audited 2025 results alongside a sweeping strategic reset, including new leadership, a slimmer cost base and a shift to a dual focus on energy transition technology and critical and precious metals. The board undertook debt restru...
Business Operations and Strategy
Forgent Unveils Bonanza Copper-Gold Grades at Green Rocks in Western Australia
Positive
Jun 15, 2026
Forgent plc has reported exceptionally high-grade assay results from its maiden surface sampling programme at the Green Rocks copper-gold project in Western Australia, with copper grades reaching up to 29.4% and gold grades up to 4.8 g/t. The 110-...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Forgent Secures Option on Major Mount Sholl Nickel-Copper-PGE Project in Pilbara
Positive
Jun 8, 2026
Forgent plc has secured an exclusive five-month option to acquire an 80% interest in the Mount Sholl nickel-copper-PGE project in Western Australia from Raiden Resources, in a deal valued at A$2.7 million split equally between cash and shares if e...
Business Operations and Strategy
Forgent to Launch First Drilling Campaign at Peak Hills Gold-Copper Project
Positive
Jun 5, 2026
Forgent plc, a technology-led energy transition company with a focus on critical and precious metals, is advancing its Peak Hills gold-copper exploration project in Western Australia, where it holds a majority stake and aims to expand its ownershi...
Business Operations and Strategy
Forgent wins drilling approval for maiden Peak Hills gold-copper campaign
Positive
Jun 1, 2026
Forgent plc has secured Department of Mines, Petroleum and Exploration approval for its Programmes of Work at the Peak Hills gold-copper project, marking a shift from evaluation to active field exploration. The company views Peak Hills as a large-...
Business Operations and StrategyRegulatory Filings and Compliance
Forgent Moves Toward Summer Drilling at High-Potential Peak Hill Gold-Copper Project
Positive
May 26, 2026
Forgent plc has submitted a Program of Work to Western Australian regulators for its maiden drilling campaign at the Peak Hill gold-copper project, paving the way for aircore drilling to start in summer 2026 once approvals are secured. The company...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Forgent raises £1.3m, secures 51% of Peak Hills and restructures debt into equity
Neutral
May 18, 2026
Forgent plc has completed an equity fundraise of £1.3 million through a placing of new shares and has exercised its option to acquire a 51% stake in the Peak Hills project, paying part in cash and part in equity. The company has also extended...
Business Operations and StrategyLegal Proceedings
Forgent Ends Legacy North Fork Legal Dispute, Clears Path for Strategy Execution
Positive
May 15, 2026
Forgent plc has reached a full and final settlement of a legacy legal dispute linked to the North Fork project, where it was a joint defendant alongside several other parties, including director David Palumbo. The litigation, brought by former tax...
Business Operations and StrategyM&A TransactionsPrivate Placements and FinancingShareholder Meetings
Forgent wins EGM backing to proceed with £1.3m placing and Peak Hills deal
Positive
May 14, 2026
Forgent plc has secured shareholder approval for all resolutions tabled at its Extraordinary General Meeting, held earlier today, via a poll vote. The company confirmed that voting results will be posted on its website, with ordinary and special r...
Business Operations and Strategy
Forgent completes maiden sampling at Green Rock copper-gold project
Positive
May 8, 2026
Forgent plc has completed its maiden field programme at the Green Rock Copper Gold Project in Western Australia, where it carried out an initial site visit and systematic rock chip sampling across the licence area. The company collected 111 rock c...
Business Operations and StrategyExecutive/Board Changes
Forgent reshapes board with new Finance Director and interim chair
Positive
May 7, 2026
Forgent plc has appointed its existing CFO and Company Secretary, Gerry Madden, to the Board as Finance Director, strengthening its leadership team as it pursues strategic plans and continues to streamline its cost base. Madden, a seasoned finance...
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.