Want to see TSE:ROOF full AI Analyst Report?
Top Page
Northstar Clean Technologies
(ROOF)
Select Model
Select Model
Rating:43Neutral
Price Target:
C$0.18
▼(-10.50% Downside)
Action:Upgraded
Date:07/10/26
The score is primarily weighed down by weak financial performance: large ongoing losses, persistent cash burn, and a balance sheet with negative equity and higher debt. Technicals add additional risk given the broader downtrend and very weak momentum signals. Valuation provides limited support because negative earnings make the P/E less informative and no dividend yield is available.
Positive Factors
Proprietary Recycling Process
Northstar’s core technology that separates and upgrades asphalt binder and aggregate is a durable competitive asset: it targets a structural market need (landfill diversion and virgin-material substitution), enables licensing or plant rollouts, and underpins recurring revenue once scaled.
Negative Factors
Negative Unit Economics
Persistently negative gross margins and outsized operating losses indicate current unit economics do not cover operating costs. Without structural improvements in throughput efficiency, yield or pricing, losses will continue to impair sustainable profitability over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Proprietary Recycling Process
Northstar’s core technology that separates and upgrades asphalt binder and aggregate is a durable competitive asset: it targets a structural market need (landfill diversion and virgin-material substitution), enables licensing or plant rollouts, and underpins recurring revenue once scaled.
Read all positive factors
Northstar Clean Technologies (ROOF) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$25.66M
Dividend YieldN/A
Average Volume (3M)251.09K
Price to Earnings (P/E)―
Beta (1Y)0.44
Revenue Growth-15.96%
EPS Growth-35.84%
CountryCA
Employees16
SectorGeneral
Sector StrengthN/A
IndustryWaste Management
Share Statistics
EPS (TTM)-0.11
Shares Outstanding165,562,320
10 Day Avg. Volume299,435
30 Day Avg. Volume251,091
Financial Highlights & Ratios
PEG Ratio-0.07
Price to Book (P/B)-3.73
Price to Sales (P/S)58.62
P/FCF Ratio-2.31
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)-0.06
Revenue Forecast (FY)C$8.48M
Northstar Clean Technologies Business Overview & Revenue Model
Company Description
Northstar Clean Technologies Inc. operates as a pioneering clean technology enterprise, specializing in the reclamation and repurposing of single-use asphalt shingles throughout North America. The company utilizes a proprietary and innovative proc...
How the Company Makes Money
Northstar Clean Technologies’ revenue model is based on monetizing the processing of asphalt-shingle waste into saleable outputs and/or monetizing its processing technology. Key revenue streams include: (1) Sale of recovered products: The company ...
Northstar Clean Technologies Earnings Call Summary
Earnings Call Date:Nov 29, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:Sep 02, 2026
Earnings Call Sentiment Positive
The earnings call highlighted significant strategic progress in financing, facility development, and partnerships, with some technical and timeline challenges. The sentiment is largely positive due to the strong financial position and strategic advancements.Positive Updates
Financial Position and Strategic Financing
Northstar Clean Technologies ended Q3 2024 with CAD 15.5 million cash, reflecting significant financing transactions, including a CAD 14 million convertible Royalty Debenture with CVW Cleantech. Additionally, the company accessed CAD 1.6 million and CAD 2.7 million from its senior secured debt facility with BDC.
Negative Updates
Technical Difficulties During Presentation
The earnings call experienced technical issues with the presentation slides, requiring additional assistance to navigate the slides.
Read all updates
Q3-2024 Updates
Positive
Negative
Financial Position and Strategic Financing
Northstar Clean Technologies ended Q3 2024 with CAD 15.5 million cash, reflecting significant financing transactions, including a CAD 14 million convertible Royalty Debenture with CVW Cleantech. Additionally, the company accessed CAD 1.6 million and CAD 2.7 million from its senior secured debt facility with BDC.
Read all positive updates
Company Guidance
During Northstar Clean Technologies' Q3 2024 earnings call, significant financial metrics and strategic developments were discussed. The company reported a cash position of CAD 15.5 million as of September 30, 2024, bolstered by a CAD 14 million convertible Royalty Debenture with CVW Cleantech and CAD 1.6 million drawn from an CAD 8.7 million senior secured debt facility with the Business Development Bank of Canada (BDC). Subsequent to the quarter's end, an additional CAD 2.7 million was drawn from the BDC facility. Northstar has incurred CAD 15.1 million in cumulative costs for its Empower Calgary facility. The company generated CAD 165,000 in revenue from shingle collections in Q3, contributing to a year-to-date total of CAD 475,000. General and administrative expenditures remained stable at CAD 1.5 million for the quarter. Looking ahead, Northstar plans to achieve mechanical completion of its Calgary facility by year-end, with operations expected by mid-2025. The company also announced a new site in Hamilton, Southern Ontario, aimed at development through 2025 and 2026, supported by strategic partnerships and government engagement.Northstar Clean Technologies Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
8
Very Negative
Cash Flow
10
Very Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 593.59K | 640.57K | 206.44K | 0.00 | 0.00 |
| Gross Profit | -1.20M | -1.22M | -913.84K | -1.08M | -461.97K |
| EBITDA | -8.40M | -5.49M | -5.18M | -7.14M | -6.45M |
| Net Income | -14.75M | -9.33M | -6.67M | -8.20M | -7.21M |
Balance Sheet | |||||
| Total Assets | 45.23M | 45.73M | 17.88M | 6.83M | 12.37M |
| Cash, Cash Equivalents and Short-Term Investments | 457.09K | 10.23M | 7.71M | 1.18M | 6.01M |
| Total Debt | 48.01M | 39.19M | 7.34M | 2.76M | 2.34M |
| Total Liabilities | 54.55M | 47.06M | 12.44M | 4.04M | 3.10M |
| Stockholders Equity | -9.32M | -1.33M | 5.44M | 2.78M | 9.27M |
Cash Flow | |||||
| Free Cash Flow | -15.04M | -24.39M | -6.38M | -6.43M | -4.86M |
| Operating Cash Flow | -6.96M | -5.13M | -4.68M | -5.69M | -4.09M |
| Investing Cash Flow | -5.61M | -18.93M | -1.59M | -647.89K | -1.14M |
| Financing Cash Flow | 2.80M | 26.42M | 12.72M | 1.50M | 9.21M |
Northstar Clean Technologies Technical Analysis
Negative
0.20
Price Trends
0.19
Negative
0.20
Negative
0.24
Negative
Market Momentum
>-0.01
Positive
46.57
Neutral
41.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ROOF, the sentiment is Negative. The current price of 0.2 is above the 20-day moving average (MA) of 0.18, above the 50-day MA of 0.19, and below the 200-day MA of 0.24, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 46.57 is Neutral, neither overbought nor oversold. The STOCH value of 41.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:ROOF.
Northstar Clean Technologies Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | C$432.67M | 50.74 | -14.47% | ― | 88.73% | ― | |
45 Neutral | C$41.45M | -62.79 | -17.79% | ― | -21.04% | 93.64% | |
44 Neutral | C$14.96M | -3.86 | -352.14% | ― | ― | 94.33% | |
43 Neutral | C$25.66M | -1.65 | 307.55% | ― | -15.96% | -35.84% |
* General Sector Average
TSE:ROOF
Northstar Clean Technologies
0.19
-0.21
-52.56%
TSE:CMC
Cielo Waste Solutions
0.08
0.02
33.33%
TSE:YES
CHAR Technologies
0.27
-0.01
-3.57%
TSE:VTX
Vertex Resource Group Ltd.
0.18
-0.05
-23.40%
TSE:ANRG
Anaergia
2.40
1.06
79.10%
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.