Helium Evolution Incorporated (HEVI.V) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-81.4%

CA$0.04

vs CA$0.20 price

Levered DCF

CA$0.03

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

6.83

Safe zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
P/E	-5.08×	-7.59×	-5.54×	-2.45×	-8.83×	-44.25×
P/B	0.99×	1.09×	1.52×	1.41×	11.22×	-27.4×
P/S	110.13×	0×	0×	0×	0×	0×
EV / EBITDA	-4.63×	-4.35×	-3.16×	-1.44×	-9.12×	-55.78×
Gross margin	-1322.7%	0.0%	0.0%	0.0%	0.0%	0.0%
Operating margin	-2071.5%	0.0%	0.0%	0.0%	0.0%	0.0%
Net margin	-2168.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Current ratio	6×	5.2×	8.88×	56.93×	1.04×	0.02×
Debt / equity	0×	0×	0×	0×	0.03×	-0.93×
Interest coverage	-3,563×	0×	0×	0×	-177.41×	-5.26×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	-19.6%	-14.3%	-27.4%	-57.5%	-124.3%	62.1%
Return on invested capital	-18.2%	-16.4%	-29.1%	-48.4%	-119.8%	742.0%
Return on assets	-17.9%	-13.1%	-25.4%	-56.5%	-10.3%	-77.8%
Free cash flow yield	-30.7%	-25.2%	-19.8%	-41.9%	-8.6%	-0.0%
Earnings yield	-19.7%	-13.2%	-18.1%	-40.8%	-11.1%	-2.3%
Enterprise value	CA$16.2M	CA$6.8M	CA$10M	CA$8.9M	CA$12.8M	CA$7.8M
Net debt / EBITDA	0.78×	2.45×	1.98×	1.46×	-0.02×	-1.83×
Cash conversion cycle (days)	106	-9,923	-5,743	-1,167	-7,191	0