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H-Power (HPOW) AI Stock Analysis
H-Power
(LSE:HPOW)
The score is primarily held back by very weak financial performance (sharp revenue decline, deep losses, and ongoing cash burn). Technicals also point to a sustained downtrend with negative momentum. The key support comes from the low-debt balance sheet and the lack of meaningful valuation support due to loss-making results and no dividend yield.
H-Power (HPOW) vs. iShares MSCI United Kingdom ETF (EWC)
- Market Cap
- GBP 89.81M
- Dividend Yield
- ―
- Average Volume (3M)
- 2.69M
- Price to Earnings (P/E)
- -4.6
- Beta (1Y)
- 0.41
- Revenue Growth
- -90.00%
- EPS Growth
- 24.02%
- Country
- UK
- Employees
- 121
- Sector
- Industrials
- Sector Strength
- 63
- Industry
- Electrical Equipment & Parts
H-Power Business Overview & Revenue Model
Company Description
H-Power plc engages in the development of ammonia-based low carbon hydrogen production and hydrogen-to-power solutions in the United Kingdom. It operates through Sales of fuel cell generators and Rental segments. The company provides an H-Power Tower...
H-Power Earnings Call Summary
The call balanced clear strategic progress (product launches LC30/Hy-5, key partnerships with Volex, ICL, and an S&P 500 partner, reduced cash burn, successful fundraise and an improved cash runway) against continued near-term commercial and accounting challenges (widened reported loss, negligible current sales, one-off write-offs/provisions, certification and supply risks, and the need to build a firm order book by 2027). The tone was constructive and execution-focused, but the company still needs to convert pipeline interest into contracted orders and navigate certification/supply constraints to realize revenue growth.
Q4-2025 Updates
Positive Updates
Negative Updates
Company Guidance
Management gave detailed near‑term commercial and technical guidance: LC30 CE marking is targeted in August 2026 with sales from September and a committed build of 15 units through October 2026 (each unit takes ~85 hours to build and uses ~40–45 kg H2/day), Dunsfold hydrogen sales to begin April 2026 and Hy‑5 pilot commissioning with ICL import clearance is planned for November 2026, Hy‑5 prototype capacity at Dunsfold is ~1 unit/week (~50/yr) with the pilot site capacity ≈400 kg/day (Hy‑5 spec ~500 kg/day), medium‑term LC30 production is fuel‑cell limited to ~500 units/month (6,000/yr) equating to ~£600m revenue at £100k/unit (management referenced a ~$95k price point), Hy‑5 Fuel‑as‑a‑Service price shown at £10/kg, FY25 PBT loss £22.2m (non‑cash items £12.4m), R&D spend £11.7m (£5.2m capitalized) with ~£3.3m R&D tax credits expected, net fundraising ~£25.8m (gross £27.5m) with £25.3m cash on hand, and cash burn cut to £15.4m in FY25 (from £26.6m) with fixed costs kept <£1m/month.
H-Power Financial Statement Overview
Summary
Financials are weak overall: revenue collapsed in the latest annual period and profitability remains deeply negative with consistently negative margins. Cash flow is also pressured with ongoing operating and free-cash-flow burn, despite improvement versus the prior year. The main offset is a relatively strong, low-leverage balance sheet with minimal debt, reducing near-term financing risk.
Income Statement
12Very NegativeBalance Sheet
68PositiveCash Flow
24Negative| Breakdown | TTM | Oct 2025 | Oct 2024 | Oct 2023 | Oct 2022 | Oct 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 361.00K | 125.00K | 4.00M | 227.00K | 582.00K | 592.80K |
| Gross Profit | -4.38M | -4.34M | -1.87M | -67.00K | -1.51M | -777.97K |
| EBITDA | -17.23M | -21.51M | -16.66M | -17.82M | -17.60M | -9.51M |
| Net Income | -17.87M | -22.20M | -17.42M | -17.48M | -16.45M | -9.38M |
Balance Sheet | ||||||
| Total Assets | 39.20M | 42.45M | 36.57M | 36.24M | 50.68M | 63.14M |
| Cash, Cash Equivalents and Short-Term Investments | 17.44M | 25.32M | 15.37M | 27.37M | 40.22M | 55.99M |
| Total Debt | 1.30M | 179.00K | 664.00K | 1.12M | 996.00K | 906.00K |
| Total Liabilities | 7.59M | 6.05M | 6.30M | 5.15M | 4.94M | 3.26M |
| Stockholders Equity | 31.61M | 36.40M | 30.27M | 31.09M | 45.74M | 59.89M |
Cash Flow | ||||||
| Free Cash Flow | -8.33M | -12.57M | -26.31M | -14.81M | -15.35M | -10.34M |
| Operating Cash Flow | -7.95M | -11.84M | -18.91M | -13.14M | -12.63M | -8.44M |
| Investing Cash Flow | -13.51M | -15.01M | -7.70M | -1.24M | -2.72M | -1.90M |
| Financing Cash Flow | 25.02M | 25.37M | 14.62M | 1.53M | 197.00K | 34.76M |
H-Power Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:HPOW, the sentiment is Negative. The current price of 7.90 is below the 20-day moving average (MA) of 8.97, below the 50-day MA of 9.69, and below the 200-day MA of 11.67, indicating a bearish trend. The MACD of -0.46 indicates Positive momentum. The RSI at 27.17 is Positive, neither overbought nor oversold. The STOCH value of 15.24 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:HPOW.
H-Power Peers Comparison
Overall Rating
GB:GELN53Neutral
GB:CWR50Neutral- GB:HPOW47Neutral
GB:IKA42Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| Sector * | 63Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
| GB:GELN | 53Neutral | GBP 47.03M | -6.63 | -40.88% | ― | -94.63% | 24.26% |
| GB:CWR | 50Neutral | GBP 558.99M | -15.23 | -17.63% | ― | -22.86% | -25.81% |
| GB:HPOW | 47Neutral | GBP 89.85M | -4.57 | -52.55% | ― | -90.00% | 24.02% |
| GB:IKA | 42Neutral | GBP 42.76M | -5.33 | -45.06% | ― | 53.47% | -14.16% |
* Industrials Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| GB:HPOW | H-Power Plc | 7.90 | -1.04 | -11.63% | |
| GB:CWR | Ceres Power Holdings | 261.40 | -36.60 | -12.28% | |
| GB:IKA | Ilika plc | 21.50 | -22.50 | -51.14% | |
| GB:GELN | Gelion PLC | 20.50 | -6.30 | -23.51% |
H-Power Corporate Events
H-Power CEO Increases Stake as Hydrogen Strategy Scales
PositiveH-Power plc, listed on AIM, develops and commercialises ammonia-based systems that produce hydrogen at or near the point of use and convert it into clean off-grid power. Its HY5 decentralised ammonia cracker and LC30 fuel cell generator target growin...
H-Power Strengthens Capital Markets Support With New Nominated Adviser
PositiveH-Power plc, a UK-based AIM-listed hydrogen technology specialist, develops ammonia-based hydrogen production systems and off-grid fuel cell generators aimed at overcoming cost, transport and storage barriers to hydrogen adoption. Its HY5 cracker and...
H‑Power Wins CE‑Ready Certification for LC30 Fuel Cell Generator
PositiveH‑Power plc has secured an Attestation of Conformity from German certification body TÜV SÜD for its LC30 fuel cell generator, confirming compliance with safety and performance standards required for the CE Mark. The certification clea...
H-Power Adds Canaccord Genuity as Joint Broker to Support Hydrogen Growth Strategy
PositiveH-Power plc has appointed Canaccord Genuity as a joint corporate broker, adding to its existing relationships with Peel Hunt and Zeus. The move expands the company’s broking and advisory network as it pursues wider market engagement on the Lond...
H-Power Advances Komatsu Hydrogen Engine Project into Final Phase
PositiveH-Power plc has completed the first phase of its joint development agreement with Japanese heavy equipment giant Komatsu to integrate its proprietary ammonia cracking technology with a Komatsu industrial diesel engine. The partners will now move into...
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.
Date of analysis: Oct 10, 2026