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Hydrograph Clean Power
(HG)
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Rating:46Neutral
Price Target:
C$4.00
▼(-32.66% Downside)
Action:Reiterated
Date:10/29/26
The score is primarily held back by weak financial performance—deeply negative margins, significant net losses, and continued negative operating/free cash flow—despite strong revenue growth and a low-leverage balance sheet. Technicals are mixed with a short-term bounce but a longer-term downtrend, and valuation offers limited support because earnings are negative and no dividend yield is available.
Positive Factors
Revenue Growth
Revenue growth indicates improving commercial traction for the company’s graphene and graphene-related materials. If sustained, a larger revenue base could provide operating scale, support customer adoption, and create a foundation for eventual margin improvement over the next several quarters.
Negative Factors
Severe Unprofitability
Deeply negative gross and net margins show that the current business model is far from breakeven and is not yet converting revenue into economic value. Persistent losses could constrain reinvestment, require additional funding, and weaken shareholder value if improvement is delayed.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Revenue growth indicates improving commercial traction for the company’s graphene and graphene-related materials. If sustained, a larger revenue base could provide operating scale, support customer adoption, and create a foundation for eventual margin improvement over the next several quarters.
Read all positive factors
Hydrograph Clean Power (HG) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$1.46B
Dividend YieldN/A
Average Volume (3M)808.21K
Price to Earnings (P/E)―
Beta (1Y)1.07
Revenue Growth187.97%
EPS Growth-123.75%
CountryCA
Employees17
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)-0.05
Shares Outstanding363,104,920
10 Day Avg. Volume1,045,268
30 Day Avg. Volume808,205
Financial Highlights & Ratios
PEG Ratio-2.99
Price to Book (P/B)40.88
Price to Sales (P/S)9903.17
P/FCF Ratio-86.58
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)N/A
Revenue Forecast (FY)N/A
Hydrograph Clean Power Business Overview & Revenue Model
Company Description
HydroGraph Clean Power Inc., established in 2017 and based in Toronto, Canada, focuses on the global development and marketing of proprietary technologies. These innovations enable the production of high-quality graphene, hydrogen, syngas, methane...
Hydrograph Clean Power Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 116.38K | 43.16K | 6.17K | 7.40K | 5.10K | 6.29K |
| Gross Profit | -7.02M | -3.22M | -51.69K | -19.08K | 1.67K | 6.29K |
| EBITDA | -13.17M | -7.86M | -5.02M | -4.66M | -2.76M | -1.53M |
| Net Income | -11.30M | -8.17M | -5.33M | -4.96M | -2.98M | -1.51M |
Balance Sheet | ||||||
| Total Assets | 47.68M | 13.51M | 5.40M | 5.88M | 7.94M | 6.53M |
| Cash, Cash Equivalents and Short-Term Investments | 39.07M | 8.72M | 780.97K | 510.43K | 2.80M | 218.35K |
| Total Debt | 1.42M | 62.29K | 188.94K | 246.07K | 318.09K | 379.33K |
| Total Liabilities | 3.27M | 3.05M | 731.07K | 1.01M | 452.35K | 4.75M |
| Stockholders Equity | 44.41M | 10.45M | 4.67M | 4.87M | 7.49M | 2.25M |
Cash Flow | ||||||
| Free Cash Flow | -11.22M | -4.94M | -4.16M | -4.17M | -5.42M | -1.75M |
| Operating Cash Flow | -8.40M | -4.77M | -4.07M | -3.55M | -3.58M | -726.68K |
| Investing Cash Flow | -3.11M | -449.81K | -81.43K | -620.99K | -1.84M | -1.03M |
| Financing Cash Flow | 49.94M | 13.15M | 4.48M | 1.82M | 2.80M | 7.54M |
Hydrograph Clean Power Technical Analysis
Negative
5.94
Price Trends
4.44
Negative
5.07
Negative
5.66
Negative
Market Momentum
-0.09
Negative
52.94
Neutral
82.52
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:HG, the sentiment is Negative. The current price of 5.94 is above the 20-day moving average (MA) of 3.40, above the 50-day MA of 4.44, and above the 200-day MA of 5.66, indicating a neutral trend. The MACD of -0.09 indicates Negative momentum. The RSI at 52.94 is Neutral, neither overbought nor oversold. The STOCH value of 82.52 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:HG.
Hydrograph Clean Power Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | C$2.33B | 27.00 | 29.60% | ― | 32.53% | 93.32% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
56 Neutral | C$1.13B | 5,163.35 | 0.21% | 1.63% | 23.69% | ― | |
47 Neutral | C$94.63M | -5.62 | -81.75% | ― | ― | -42.93% | |
47 Neutral | C$260.86M | -8.22 | -969.63% | ― | 224.03% | -204.33% | |
46 Neutral | C$1.46B | -60.21 | -49.29% | ― | 187.97% | -123.75% | |
45 Neutral | C$18.71M | -7.12 | -89.62% | ― | -29.28% | -95.12% |
* Basic Materials Sector Average
TSE:HG
Hydrograph Clean Power
4.03
0.17
4.40%
TSE:CNO
California Nanotechnologies
0.40
0.01
2.56%
TSE:NANO
Nano One Materials
0.79
-0.97
-55.11%
TSE:VNP
5N Plus
25.93
5.17
24.90%
TSE:NEO
Neo Performance Materials Inc
24.53
7.45
43.62%
TSE:GMG
Graphene Manufacturing Group Ltd
1.95
0.72
58.54%
Hydrograph Clean Power Corporate Events
Business Operations and StrategyRegulatory Filings and ComplianceShareholder Meetings
HydroGraph Extends Deadline for Canadian Investors’ Tax-Deferred Share Election
Neutral
Oct 23, 2026
HydroGraph Clean Power is extending the deadline for Canadian shareholders to elect tax-deferred exchangeable shares as part of its planned corporate redomicile, moving to a new U.S. parent structure. The company is emphasizing that shares held in...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
HydroGraph Ramps Up U.S. Graphene Production, Financing and Defense Push
Positive
Oct 21, 2026
HydroGraph Clean Power has moved from technology development toward commercial production in 2026, underpinned by an upsized C$70.4 million financing that strengthened its balance sheet and supported expansion in the United States. The company has...
Business Operations and StrategyProduct-Related Announcements
HydroGraph to Highlight High-Load Fractal Graphene Paste at Advanced Materials Show USA
Positive
Oct 1, 2026
HydroGraph Clean Power will showcase its newly launched Fractal Graphene Paste at The Advanced Materials Show USA, emphasizing a high-concentration, ready-to-use graphene dispersion designed to ease integration into commercial products. The aqueou...
Business Operations and StrategyRegulatory Filings and ComplianceShareholder Meetings
HydroGraph Moves Ahead with Plan to Redomicile to Delaware
Positive
Sep 21, 2026
HydroGraph Clean Power has filed and is mailing its management information circular for a special meeting of securityholders on October 29, 2026 in Vancouver to approve a corporate redomicile to the United States via a Delaware parent company. Sec...
Business Operations and StrategyPrivate Placements and Financing
HydroGraph Raises C$70.4 Million in Upsized Bought-Deal to Fund U.S. Expansion
Positive
Aug 25, 2026
HydroGraph Clean Power has closed an upsized bought-deal public offering of 10,350,000 units at C$6.80 per unit, raising gross proceeds of C$70.38 million with Canaccord Genuity as sole underwriter and full exercise of the over-allotment option. E...
Business Operations and StrategyPrivate Placements and Financing
HydroGraph Upsizes Bought Deal Financing to C$61.2 Million for Growth Push
Positive
Aug 18, 2026
HydroGraph Clean Power has upsized its previously announced bought deal public offering from C$50 million to C$61.2 million following strong investor demand, with Canaccord Genuity Corp. acting as sole underwriter and bookrunner. The underwriter w...
Business Operations and StrategyPrivate Placements and Financing
HydroGraph Clean Power launches C$50 million bought deal to fund U.S. expansion
Positive
Aug 17, 2026
HydroGraph Clean Power Inc., a Vancouver-based producer of ultra-pure graphene listed on the CSE and OTCQB, is pursuing growth in North America by expanding its U.S. facilities. The company’s advanced materials are aimed at industrial and co...
Business Operations and Strategy
HydroGraph Expands Texas Graphene Operations to Bolster U.S. Advanced Materials Supply
Positive
Aug 11, 2026
HydroGraph Clean Power Inc., a producer of ultra-pure synthetic graphene using proprietary detonation-based Hyperion Reactor technology, is expanding its U.S. presence with new operations in Texas to support defense, energy, infrastructure, aerosp...
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.