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Helium Evolution Incorporated
(HEVI)
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Rating:45Neutral
Price Target:
C$0.21
▼(-12.50% Downside)
Action:Reiterated
Date:10/15/26
The score is primarily weighed down by weak financial performance—minimal revenue, ongoing losses, and negative operating/free cash flow—despite improvements versus prior years. Technicals are mixed/neutral with no clear bullish momentum, and valuation support is limited due to negative earnings and no dividend yield.
Positive Factors
Very low leverage
Extremely low leverage limits solvency pressure and reduces the burden of interest or refinancing obligations. This gives the company greater flexibility to advance helium projects, manage operating volatility, and pursue funding or development decisions without substantial debt constraints.
Negative Factors
Minimal revenue base
The very small revenue base shows that Helium Evolution has not yet established meaningful commercial scale. Until helium assets generate material sales, the company remains exposed to development timing and must prove that its projects can convert exploration activity into recurring operating revenue.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
Extremely low leverage limits solvency pressure and reduces the burden of interest or refinancing obligations. This gives the company greater flexibility to advance helium projects, manage operating volatility, and pursue funding or development decisions without substantial debt constraints.
Read all positive factors
Helium Evolution Incorporated (HEVI) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$61.40M
Dividend YieldN/A
Average Volume (3M)65.94K
Price to Earnings (P/E)―
Beta (1Y)0.36
Revenue GrowthN/A
EPS Growth-56.11%
CountryCA
Employees4
SectorGeneral
Sector StrengthN/A
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-0.02
Shares Outstanding306,981,720
10 Day Avg. Volume66,876
30 Day Avg. Volume65,945
Financial Highlights & Ratios
PEG Ratio-0.05
Price to Book (P/B)0.99
Price to Sales (P/S)110.13
P/FCF Ratio-3.26
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)-0.01
Revenue Forecast (FY)C$37.16M
Helium Evolution Incorporated Business Overview & Revenue Model
Company Description
Headquartered in Calgary, Canada, Helium Evolution Incorporated's primary activities involve the discovery and extraction of helium deposits across southern Saskatchewan....
How the Company Makes Money
HEVI’s revenue model is tied to successfully advancing helium assets and monetizing them through (a) producing and selling helium (and any associated natural gas, if applicable) once a project reaches development/production, and/or (b) realizing v...
Helium Evolution Incorporated Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
62
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 172.00K | 172.00K | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -771.00K | -2.27M | -27.00K | -45.00K | -51.00K | -10.00K |
| EBITDA | -3.84M | -3.50M | -1.55M | -3.18M | -6.22M | -1.40M |
| Net Income | -4.01M | -3.73M | -1.39M | -2.95M | -7.36M | -1.41M |
Balance Sheet | ||||||
| Total Assets | 19.47M | 20.78M | 10.60M | 11.64M | 13.02M | 13.67M |
| Cash, Cash Equivalents and Short-Term Investments | 2.00M | 6.89M | 3.83M | 6.33M | 9.13M | 171.00K |
| Total Debt | 23.00K | 36.00K | 22.00K | 43.00K | 29.00K | 33.00K |
| Total Liabilities | 1.39M | 1.74M | 906.00K | 872.00K | 226.00K | 12.53M |
| Stockholders Equity | 18.08M | 19.04M | 9.70M | 10.77M | 12.80M | 1.14M |
Cash Flow | ||||||
| Free Cash Flow | -2.80M | -5.81M | -2.66M | -3.23M | -7.56M | -1.10M |
| Operating Cash Flow | -1.43M | -1.23M | -729.00K | -346.00K | -1.44M | -498.00K |
| Investing Cash Flow | -6.16M | -8.57M | -1.74M | -2.43M | -7.08M | -601.00K |
| Financing Cash Flow | 8.26M | 12.86M | -31.00K | -20.00K | 17.48M | 1.27M |
Helium Evolution Incorporated Technical Analysis
Negative
0.24
Price Trends
0.21
Negative
0.20
Negative
0.20
Positive
Market Momentum
<0.01
Positive
47.77
Neutral
11.11
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:HEVI, the sentiment is Negative. The current price of 0.24 is above the 20-day moving average (MA) of 0.20, above the 50-day MA of 0.21, and above the 200-day MA of 0.20, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 47.77 is Neutral, neither overbought nor oversold. The STOCH value of 11.11 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:HEVI.
Helium Evolution Incorporated Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | C$747.51M | 87.50 | 5.33% | 20.75% | 42.92% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | C$273.07M | 6.23 | 57.31% | 8.00% | 39.79% | ― | |
48 Neutral | C$131.30M | -1.81 | -74.92% | ― | 273.28% | -656.13% | |
45 Neutral | C$61.40M | -7.12 | -23.76% | ― | ― | -56.11% | |
27 Underperform | C$11.17M | -1.02 | 7616.90% | ― | -39.87% | 93.59% |
* General Sector Average
TSE:HEVI
Helium Evolution Incorporated
0.20
>-0.01
-4.76%
TSE:CVVY
Cavvy Energy
2.52
1.61
176.92%
TSE:GASX
NG Energy International
1.00
0.00
0.00%
TSE:QEC
Questerre
0.29
>-0.01
-3.01%
TSE:ALTU
Total Helium Ltd
0.15
0.04
36.36%
Helium Evolution Incorporated Corporate Events
Business Operations and StrategyExecutive/Board Changes
Helium Evolution Advances Grasslands Helium Project and Reshapes Board
Positive
Oct 8, 2026
Helium Evolution has advanced its Grasslands project in southern Saskatchewan, jointly operated with North American Helium, by completing 3D seismic interpretations and agreeing on an initial set of bottom hole drilling locations. The partners are...
Business Operations and StrategyDelistings and Listing Changes
Helium Evolution Gains DTC Eligibility and Grants Stock Options
Positive
Aug 31, 2026
Helium Evolution has secured eligibility for its common shares to be electronically cleared and settled in the U.S. through the Depository Trust Company, following its recent listing on the OTCQB Venture Market. This status is expected to streamli...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Helium Evolution Strengthens Balance Sheet With $25 Million Financing as Q2 Loss Narrows
Positive
Aug 25, 2026
Helium Evolution has filed its second-quarter 2026 financial statements and MDA, reporting a net loss of $0.7 million for the quarter and $1.2 million for the first half, alongside increased total assets and stronger working capital. The company&#...
Business Operations and StrategyPrivate Placements and Financing
Helium Evolution Raises $25 Million to Boost Saskatchewan Helium Development
Positive
Aug 25, 2026
Helium Evolution has closed a $25 million private placement, issuing 166,666,667 units at $0.15 each, with attached warrants exercisable at $0.30 over three years, and additional finder’s warrants to Auctus Advisors. The financing brought in...
Business Operations and StrategyPrivate Placements and Financing
Helium Evolution Secures $25 Million to Accelerate Saskatchewan Helium Development
Positive
Aug 25, 2026
Helium Evolution has closed a $25 million private placement, issuing 166,666,667 units at $0.15 each, with each unit including a common share and a three-year warrant exercisable at $0.30. The financing attracted $23.7 million from new internation...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Helium Evolution Gains TSXV Extension on $25 Million Financing
Positive
Aug 20, 2026
Helium Evolution Incorporated has secured a two-week extension of price protection from the TSX Venture Exchange for its previously announced $25 million private placement financing. The extension is intended to provide additional time for the exc...
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.