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Thermal Energy International (TMG) AI Stock Analysis
Thermal Energy International
(TSXV:TMG)
The score is supported by stronger profitability and leverage, positive earnings-call developments, and order growth, but constrained by revenue volatility, weakening cash-flow conversion, and bearish technical trends.
Thermal Energy International (TMG) vs. iShares MSCI Canada ETF (EWC)
- Market Cap
- CAD 26.50M
- Dividend Yield
- ―
- Average Volume (3M)
- 95.89K
- Price to Earnings (P/E)
- 33.0
- Beta (1Y)
- 0.28
- Revenue Growth
- 16.89%
- EPS Growth
- ―
- Country
- Canada
- Employees
- 78
- Sector
- General
- Sector Strength
- 55
- Industry
- Industrial - Pollution & Treatment Controls
Thermal Energy International Business Overview & Revenue Model
Company Description
Thermal Energy International Inc. engages in the development, engineering, and supply of pollution control, heat recovery systems, and condensate return solutions in North America, Europe, and internationally. The company offers GEM steam traps; FLUA...
How the Company Makes Money
The company makes money primarily by selling and delivering energy-efficiency projects and associated services to industrial and institutional facilities. Key revenue streams typically include: 1) Equipment and project revenue: Revenue from the sale...
Thermal Energy International Earnings Call Summary
Management acknowledged that first-quarter results were below expectations because of project timing, delayed customer-site readiness, GEM shipment timing, foreign exchange effects, and higher operating expenses. However, the call emphasized strong trailing-twelve-month growth, a 76% increase in Adjusted EBITDA, sustained profitability and cash generation, a strong balance sheet, expanding backlog, nearly CAD 13 million of fiscal 2027 orders, new customer wins, and progress on scalable offerings and sales channels. The positive operational and strategic developments significantly outweighed the primarily timing-related quarterly setbacks.
Q1-2027 Updates
Positive Updates
Negative Updates
Company Guidance
Management expects the two delayed heat recovery projects to “accelerate in the near term” once site-related issues are resolved; the fiscal year will focus on establishing the independent representative network, with “some contribution” expected “next year.” HeatSponge in Europe is expected to be “a material contributor? No,” with “an order or two” and “a few orders this year,” but it “will not be material to the bottom line or to the top line.” European manufacturing is expected to begin “right away,” initially “entirely in the U.S.,” then “partially manufacture in the U.S.,” and finally “total contract manufacturing,” depending on orders. Management said it has no further plans for the “over CAD 1 million annualized” growth investments, has “no imminent plans right now for any acquisitions,” and may pursue acquisitions or normal course issuer bids “when we feel we have lots of cash available for the foreseeable future.”
Thermal Energy International Financial Statement Overview
Summary
Balance-sheet strength and improved profitability are offset by sharp revenue volatility, modest margins, and weaker free-cash-flow generation.
Income Statement
58NeutralBalance Sheet
75PositiveCash Flow
55Neutral| Breakdown | TTM | Aug 2026 | Aug 2025 | Aug 2024 | Aug 2022 | Aug 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 33.55M | 33.55M | 29.78M | 25.88M | 21.09M | 15.91M |
| Gross Profit | 13.55M | 13.55M | 12.34M | 12.45M | 9.57M | 6.73M |
| EBITDA | 2.20M | 1.88M | 1.17M | 2.14M | 1.76M | -716.46K |
| Net Income | 1.25M | 1.25M | 73.17K | 929.50K | 717.96K | -1.92M |
Balance Sheet | ||||||
| Total Assets | 13.81M | 13.81M | 11.95M | 16.79M | 13.51M | 9.60M |
| Cash, Cash Equivalents and Short-Term Investments | 3.27M | 3.27M | 2.80M | 6.97M | 2.81M | 2.46M |
| Total Debt | 1.81M | 1.81M | 1.59M | 3.89M | 4.73M | 5.31M |
| Total Liabilities | 8.63M | 8.63M | 8.38M | 13.37M | 11.59M | 8.55M |
| Stockholders Equity | 5.15M | 5.15M | 3.57M | 3.46M | 1.97M | 1.08M |
Cash Flow | ||||||
| Free Cash Flow | 1.73M | 1.73M | -1.75M | 5.02M | 1.33M | -1.99M |
| Operating Cash Flow | 2.20M | 2.20M | -1.67M | 5.40M | 1.41M | -1.64M |
| Investing Cash Flow | -470.84K | -470.84K | -77.73K | -376.89K | -77.70K | -351.93K |
| Financing Cash Flow | -1.24M | -1.24M | -2.41M | -1.06M | -1.04M | 357.56K |
Thermal Energy International Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:TMG, the sentiment is Positive. The current price of 0.15 is above the 20-day moving average (MA) of 0.15, above the 50-day MA of 0.15, and below the 200-day MA of 0.16, indicating a bullish trend. The MACD of -0.00 indicates Negative momentum. The RSI at 57.52 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:TMG.
Thermal Energy International Peers Comparison
Overall Rating
- TSE:TMG61Neutral
TSE:QST48Neutral
TSE:GRN44Neutral
TSE:WATR43Neutral
TSE:SHRC41Neutral
TSE:ACT39Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TSE:TMG | 61Neutral | CAD 26.50M | 32.98 | 16.53% | ― | 16.89% | ― |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| 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% |
| TSE:ACT | 39Underperform | CAD 508.04M | -23.86 | -51.78% | ― | -44.40% | -8.31% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TSE:TMG | Thermal Energy International | 0.15 | 0.02 | 19.23% | |
| 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:GRN | Greenlane Renewables | 0.17 | -0.09 | -34.62% | |
| TSE:ACT | Aduro Clean Technologies Inc. | 14.20 | -5.49 | -27.88% |
Thermal Energy International Corporate Events
Thermal Energy Wins $2 Million Heat Recovery Deal with Global Nutrition Client
PositiveThermal Energy International has secured a $2 million turnkey heat recovery project with a leading global nutrition company, marking the 12th turnkey engagement with this client and the sixth in the past year. The project will capture waste heat from...
Thermal Energy International Delivers Strong Backlog Despite Soft First Quarter
NeutralThermal Energy International reported weaker first-quarter results for the period ended August 31, 2026, with revenue down 9.2% to $6.2 million, a negative adjusted EBITDA of $80,000, and a net loss of $272,000, largely due to delays in delivering se...
Thermal Energy Wins $3.2 Million Heat Recovery Deal with European Dairy Co-op
PositiveThermal Energy International has secured a $3.2 million turnkey heat recovery project with a European agricultural and dairy co-operative, marking a significant win in one of its key target sectors. The system will recover waste heat from two boiler...
Thermal Energy International Targets Microcap Investors with Planet MicroCap Toronto Appearance
PositiveThermal Energy International, a specialist in high-return energy efficiency and carbon reduction projects for large industrial clients, is deepening its outreach to the microcap investment community. The company leverages its proprietary technologies...
Thermal Energy International Sets Date for Fiscal Q1 2027 Results and Investor Call
PositiveThermal Energy International will release its fiscal 2027 first quarter financial results before the market opens on October 27, 2026, and follow with an earnings conference call and webcast at 8:30 a.m. ET that morning. The company will make its fin...
Thermal Energy Lands $2.1 Million Heat Recovery Deals With Global Nutrition Company
PositiveThermal Energy International has secured three repeat heat recovery orders totalling about $2.1 million from a global nutrition company, covering two turnkey projects in the United States and a major equipment package for Indonesia, its first such or...
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: Oct 29, 2026