EnviroMetal Technologies Inc (ETI) AI Stock Analysis

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EnviroMetal Technologies Inc

(CNQX:ETI)

Select Model

Rating:41Neutral

Price Target:CAD 0.01▲(0.00% Upside)

Action:upgraded

Date:11/11/26

The score is driven primarily by very poor fundamentals: no revenue since 2023, negative shareholders' equity of roughly -$956K, a total asset base of only about $88K, and continued negative operating cash flow, leaving the company reliant on external financing. Sharply reduced losses and cash burn show meaningful cost control but do not offset the lack of a commercial sales base. Technicals are flat and uninspiring, with the sub-penny price hovering around its short-term moving averages and a stochastic reading at the bottom of its range. The low P/E is misleading because it reflects one-time non-operating gains, and there is no dividend. Overall, this is a high-risk, financing-dependent micro-cap situation.

Positive Factors

Circular-economy business modelThe company targets metal recovery from waste streams, aligning its activities with circular-economy objectives and reduced landfill disposal. If commercialization progresses, this model could support demand from customers seeking improved material recovery and more resource-efficient industrial processes.

Negative Factors

Absent recent revenue baseThe lack of meaningful recent revenue shows that the company has not yet established a stable commercial base for its recovery technologies. Without repeatable sales, operating leverage and predictable cash generation remain difficult to achieve over the next several quarters.

EnviroMetal Technologies Inc (ETI) vs. iShares MSCI Canada ETF (EWC)

Market Cap: CAD 391.94K
Dividend Yield: ―
Average Volume (3M): 12.25K
Price to Earnings (P/E): 1.6
Beta (1Y): -2.36
Revenue Growth: ―
EPS Growth: ―
Country: Canada
Employees: 5
Sector: Basic Materials
Sector Strength: 61
Industry: Chemicals - Specialty

EnviroMetal Technologies Inc Business Overview & Revenue Model

Company Description

EnviroMetal Technologies Inc. engages in the precious metal extraction process with applications in the primary and secondary metals industries. The company develops and markets technologies for the extraction of precious and other metals from ores a...

EnviroMetal Technologies Inc Financial Statement Overview

Summary

Financials are extremely weak. EnviroMetal Technologies has reported no revenue since 2023 (Income Statement score 12), and the balance sheet is effectively insolvent with shareholders' equity of roughly -$956K and total assets of only about $88K (Balance Sheet score 7). Cash flow remains negative in every period, though burn has been cut sharply from -$3.65M in 2021 to about -$119K on a TTM basis (Cash Flow score 20). The recent positive reported net income stems from non-operating items, not business recovery, as EBIT and gross profit remain negative. Cost discipline is the only bright spot; the company remains pre-commercial and dependent on new financing.

Income Statement

12Very Negative

Balance Sheet

7Very Negative

Cash Flow

20Very Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	0	0	0	0	3.52M	851.36K
Gross Profit	-59.02K	-192.63K	-716.76K	-102.00K	3.10M	-945.00K
EBITDA	-87.69K	-233.25K	-869.49K	-260.00K	-3.39M	-6.49M
Net Income	367.16K	-342.66K	-945.00K	-1.00M	-5.51M	-11.49M
Balance Sheet
Total Assets	87.88K	116.36K	444.85K	1.14M	2.95M	8.23M
Cash, Cash Equivalents and Short-Term Investments	12.63K	21.92K	14.78K	201.28K	429.04K	784.79K
Total Debt	50.00K	50.00K	82.92K	173.62K	410.78K	491.50K
Total Liabilities	1.04M	1.42M	1.45M	1.20M	2.45M	6.11M
Stockholders Equity	-956.19K	-1.30M	-1.00M	-57.37K	491.51K	2.13M
Cash Flow
Free Cash Flow	-119.42K	-185.05K	-218.33K	-1.20M	-3.69M	-4.13M
Operating Cash Flow	-119.42K	-185.05K	-218.33K	-1.20M	-3.27M	-3.65M
Investing Cash Flow	55.34K	225.87K	106.65K	1.24M	-381.38K	-422.69K
Financing Cash Flow	-755	-33.67K	-74.82K	-271.82K	3.36M	-589.35K

EnviroMetal Technologies Inc Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

TSE:ETI against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
TSE:FWM	48Neutral	CAD 1.06M	-1.29	-152.09%	―	―	-28.89%
TSE:ELEM	43Neutral	CAD 3.11M	-6.82	-24.73%	―	―	98.55%
TSE:ETI	41Neutral	CAD 568.04K	1.56	-32.26%	―	―	―
TSE:MOLT	37Underperform	CAD 650.12K	-0.87	-25.67%	―	―	84.87%
TSE:AMMP	24Underperform	CAD 5.16M	-1.37	115.99%	―	―	―

* Basic Materials Sector Average

Performance Comparison

TSE:ETI and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TSE:ETI	EnviroMetal Technologies Inc	0.01	0.00	0.00%
TSE:AMMP	Ammpower Corp	0.03	0.00	0.00%
TSE:FWM	Flow Metals Corp	0.04	-0.01	-25.00%
TSE:ELEM	Element79 Gold Corp.	0.01	-0.02	-57.14%
TSE:MOLT	Molten Metals Corp.	0.05	-0.34	-87.18%

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.

Date of analysis: Nov 11, 2026

EnviroMetal Technologies Inc AI Stock Analysis