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Northstar Clean Technologies
(ROOF)
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Rating:41Neutral
Price Target:
C$0.16
▼(-12.22% Downside)
Action:Reiterated
Date:09/06/26
The score is weighed down primarily by weak financial performance—large losses, persistent cash burn, rising debt, and negative equity—indicating high financial risk. Technicals are also negative with the stock trading below major moving averages and a negative MACD, while valuation metrics provide limited support due to negative earnings and no dividend yield data.
Positive Factors
Strong Revenue Growth
Rapid recent revenue expansion indicates that Northstar is beginning to commercialize its shingle-recovery offering and establish customer activity. If growth continues, greater throughput and operating scale could improve fixed-cost absorption and strengthen the company’s ability to build a durable revenue base.
Negative Factors
Persistent Cash Burn
Ongoing negative operating and free cash flow shows that the business is consuming cash rather than funding operations internally. Persistent burn increases dependence on outside capital and leaves less financial flexibility to complete facilities, support commercialization, or absorb execution setbacks.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
Rapid recent revenue expansion indicates that Northstar is beginning to commercialize its shingle-recovery offering and establish customer activity. If growth continues, greater throughput and operating scale could improve fixed-cost absorption and strengthen the company’s ability to build a durable revenue base.
Read all positive factors
Northstar Clean Technologies (ROOF) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$27.32M
Dividend YieldN/A
Average Volume (3M)123.49K
Price to Earnings (P/E)―
Beta (1Y)0.52
Revenue Growth6.95%
EPS Growth-13.65%
CountryCA
Employees16
SectorGeneral
Sector StrengthN/A
IndustryWaste Management
Share Statistics
EPS (TTM)-0.11
Shares Outstanding165,562,320
10 Day Avg. Volume189,769
30 Day Avg. Volume123,494
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)-0.08
Revenue Forecast (FY)C$5.17M
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 centered on operating (or licensing) shingle-recycling facilities that take in waste asphalt shingles and convert them into saleable recovered materials. The primary expected revenue streams are: (1) ...
Northstar Clean Technologies Earnings Call Summary
Earnings Call Date:Nov 29, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:Nov 26, 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
9
Very Negative
Cash Flow
14
Very Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 692.91K | 593.59K | 640.57K | 206.44K | 0.00 | 0.00 |
| Gross Profit | -1.15M | -1.20M | -1.22M | -913.84K | -1.08M | -461.97K |
| EBITDA | -11.05M | -9.76M | -5.49M | -5.18M | -7.14M | -6.45M |
| Net Income | -16.56M | -14.75M | -9.33M | -6.67M | -8.20M | -7.21M |
Balance Sheet | ||||||
| Total Assets | 52.49M | 45.23M | 45.73M | 17.88M | 6.83M | 12.37M |
| Cash, Cash Equivalents and Short-Term Investments | 6.16M | 457.09K | 10.23M | 7.71M | 1.18M | 6.01M |
| Total Debt | 58.62M | 48.01M | 39.19M | 7.34M | 2.76M | 2.34M |
| Total Liabilities | 67.51M | 54.55M | 47.06M | 12.44M | 4.04M | 3.10M |
| Stockholders Equity | -15.02M | -9.32M | -1.33M | 5.44M | 2.78M | 9.27M |
Cash Flow | ||||||
| Free Cash Flow | -13.59M | -15.04M | -24.39M | -6.38M | -6.43M | -4.86M |
| Operating Cash Flow | -10.23M | -6.96M | -5.13M | -4.68M | -5.69M | -4.09M |
| Investing Cash Flow | -3.04M | -5.61M | -18.93M | -1.59M | -647.89K | -1.14M |
| Financing Cash Flow | 17.38M | 2.80M | 26.42M | 12.72M | 1.50M | 9.21M |
Northstar Clean Technologies Technical Analysis
Negative
0.18
Price Trends
0.19
Negative
0.19
Negative
0.21
Negative
Market Momentum
>-0.01
Positive
30.08
Neutral
<0.01
Positive
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 0.18 is below the 20-day moving average (MA) of 0.18, below the 50-day MA of 0.19, and below the 200-day MA of 0.21, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 30.08 is Neutral, neither overbought nor oversold. The STOCH value of <0.01 is Positive, 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% | |
47 Neutral | C$467.03M | 29.83 | -29.88% | ― | 101.45% | ― | |
45 Neutral | C$40.70M | -135.00 | -6.70% | ― | 11.30% | 97.22% | |
44 Neutral | C$12.97M | -3.14 | 123.35% | ― | ― | 94.33% | |
41 Neutral | C$27.32M | -1.54 | 152.16% | ― | 6.95% | -13.65% |
* General Sector Average
TSE:ROOF
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Northstar Clean Technologies Corporate Events
Business Operations and StrategyFinancial Disclosures
Northstar Hits ERA Milestone as Calgary Plant Ramps Up Production
Positive
Sep 1, 2026
Northstar Clean Technologies reported its second-quarter 2026 results, highlighting progress in ramping up production at its Empower Calgary asphalt shingle recycling facility. The company exceeded processing rates of 100 tonnes per day in June, r...
Business Operations and Strategy
Northstar Secures New U.S. Patent for Asphalt Shingle Reprocessing Technology
Positive
Aug 27, 2026
Northstar Clean Technologies has been awarded a new U.S. patent for its proprietary asphalt shingle reprocessing technology, marking the fourth patent related to its process and the third tied to its core reprocessing system in the United States. ...
Business Operations and StrategyFinancial Disclosures
Northstar Sets Date for Q2 2026 Results and Investor Webcast
Neutral
Aug 25, 2026
Northstar Clean Technologies Inc., a Canadian waste-to-value technology firm, focuses on converting discarded asphalt shingles into reusable components, including liquid asphalt, aggregate, limestone and fiber for construction and roofing applicat...
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.