Sparta Capital (SAY) AI Stock Analysis

Sparta Capital

(TSXV:SAY)

Select Model

Rating:55Neutral

Price Target:CAD 0.02▲(0.00% Upside)

Action:reiterated

Date:08/17/26

Promising revenue growth and cash flow improvements are offset by weak balance sheet with negative equity, high volatility from elevated beta, and flat price trends; low P/E offers some valuation support.

Positive Factors

Revenue and earnings turnaroundThe return to profitability alongside higher revenue indicates improved operating execution and customer demand. If maintained, this turnaround can provide a stronger earnings base and support continued business development over the next several quarters.

Negative Factors

Negative shareholders’ equityA persistent equity deficit indicates elevated financial risk and leaves less protection if operating results weaken. It can constrain financing choices, increase dependence on creditors, and make the recent earnings recovery more vulnerable to setbacks.

Sparta Capital (SAY) vs. iShares MSCI Canada ETF (EWC)

Market Cap: CAD 648.06K
Dividend Yield: ―
Average Volume (3M): ―
Price to Earnings (P/E): 21.4
Beta (1Y): 1.95
Revenue Growth: -0.31%
EPS Growth: -15.15%
Country: Canada
Employees: 0
Sector: Industrials
Sector Strength: 63
Industry: Industrial - Pollution & Treatment Controls

Sparta Capital Business Overview & Revenue Model

Company Description

Sparta Capital Ltd., founded in 1988 and headquartered in Toronto, Canada, delivers specialized solutions for energy capture, conversion, and optimization, primarily serving the commercial sector. The company assists manufacturers in boosting efficie...

How the Company Makes Money

null

Sparta Capital Financial Statement Overview

Summary

Averaging strong income (75) and cash flow (70) improvements with weak balance sheet (25), reflecting revenue growth and emerging profitability offset by negative equity and high leverage risks.

Income Statement

75Positive

Balance Sheet

25Negative

Cash Flow

70Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Mar 2025	Mar 2024	Dec 2022	Dec 2021
Income Statement
Total Revenue	12.42M	12.53M	7.83M	9.43M	5.97M	5.19M
Gross Profit	8.53M	9.74M	2.02M	5.34M	3.30M	3.86M
EBITDA	2.19M	2.36M	182.25K	638.79K	-919.07K	-21.52K
Net Income	194.75K	430.75K	-889.80K	-412.89K	-970.12K	-609.44K
Balance Sheet
Total Assets	5.08M	5.39M	2.21M	1.84M	2.03M	3.06M
Cash, Cash Equivalents and Short-Term Investments	2.06M	2.52M	828.18K	930.83K	541.09K	844.78K
Total Debt	2.21M	2.54M	2.76M	2.34M	3.09M	2.82M
Total Liabilities	3.68M	4.79M	3.90M	3.11M	3.78M	3.48M
Stockholders Equity	-128.01K	-24.21K	-1.31M	-824.03K	-973.07K	-182.03K
Cash Flow
Free Cash Flow	1.46M	2.40M	734.50K	487.48K	-515.22K	195.59K
Operating Cash Flow	1.47M	2.40M	734.50K	487.48K	-515.22K	210.37K
Investing Cash Flow	64.32K	164.86K	0	0	11.00K	-14.78K
Financing Cash Flow	-1.01M	-873.62K	-837.15K	-97.73K	200.53K	36.69K

Sparta Capital Technical Analysis

Technical Analysis SentimentNegative

Last Price0.01

Price Trends

50DMA0.02Negative

100DMA0.01Positive

200DMA0.02Negative

Market Momentum

MACD-0.00Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SAY, the sentiment is Negative. The current price of 0.01 is below the 20-day moving average (MA) of 0.02, below the 50-day MA of 0.02, and below the 200-day MA of 0.02, indicating a bearish trend. The MACD of -0.00 indicates Neutral momentum. The RSI at is Neutral, neither overbought nor oversold. The STOCH value of is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:SAY.

Sparta Capital Peers Comparison

Overall Rating

UnderperformOutperform

Sector (63)

Financial Indicators

TSE:SAY against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
TSE:TMG	60Neutral	CAD 26.50M	32.98	16.53%	―	16.89%	―
TSE:SAY	55Neutral	CAD 3.74M	21.43	-80.04%	―	-0.31%	-15.15%
TSE:QST	48Neutral	CAD 7.08M	-2.31	-16.34%	―	-74.07%	-251.51%
TSE:GRN	44Neutral	CAD 27.17M	-6.25	-18.95%	―	5.01%	-3122.22%
TSE:WATR	43Neutral	CAD 2.47M	-12.50	5.26%	―	159.71%	97.18%
TSE:SHRC	41Neutral	CAD 14.04M	-3.92	109.61%	―	-22.75%	5.86%

* Industrials Sector Average

Performance Comparison

TSE:SAY and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TSE:SAY	Sparta Capital	0.01	0.00	0.00%
TSE:WATR	Current Water Technologies Inc	0.01	-0.01	-50.00%
TSE:SHRC	Sharc International Systems Inc.	0.09	0.01	6.25%
TSE:QST	Questor Technology	0.26	-0.21	-45.16%
TSE:TMG	Thermal Energy International	0.15	0.02	19.23%
TSE:GRN	Greenlane Renewables	0.17	-0.09	-34.62%

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: Aug 17, 2026

Sparta Capital AI Stock Analysis