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Evolution Metals & Technologies (EMAT) Stock Fundamentals, Analysis & Risk Signals

Health score, competitive moat, risk signals, and key metrics at a glance.

NasdaqGM•Basic Materials•Other Industrial Metals & Mining
D
WeakMetricSide Score: 25/100
ProfitabilityProfit0/30
GrowthGrowth10/25
Balance SheetBalance8/25
Cash QualityCash7/20
Price & Volume
Market Cap $3.87B

Evolution Metals & Technologies Corp. critical materials and advanced manufacturing company. It focuses on non-China-dependent supply chain for rare earth permanent magnets, battery materials, and related critical technologies. The company is based in West Palm Beach, Florida.

Moat Signals

Competitive analysis based on 18 quarters of fundamental data

Pricing Power

Weak Moat

Operating margins are under pressure, averaging -45367554.1%. The business may lack pricing power or face rising costs.'

Competitive Advantage

Moderate Moat

Limited ROE data for a reliable assessment.

Cash Generation

Weak Moat

Only 0 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.

Demand Durability

Weak Moat

Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.

Risk Signals

Data-driven red flags and warnings across 18 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Leverage Risk

Healthy

Limited debt-to-equity data available.

Revenue Decline

Healthy

Revenue is stable or growing over recent quarters — demand appears durable.

Cash Burn

Red Flag

The last 8 consecutive quarters had negative FCF — the company is burning cash and may need external funding.

Share Dilution

Red Flag

Shares outstanding increased 28375.3% — significant dilution, likely from stock compensation or capital raises.

Metrics at a Glance

as of March 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$1.88M
Q. Revenue
$1.88M
TTM EBITDA
$-16.84M
667.7%
TTM Op. Income
$-17.09M
679.2%
Q. Op. Income
$-15.65M
TTM Net Income
$-441.58M
32604.8%
Q. Net Income
$-440.31M
EPS
$-0.72
Shares Out.
$611.90M
28155.9%
$1.88M in TTM revenue grew Infinity% YoY, reaching $1.88M last quarter. TTM EBITDA of $-16.84M and TTM operating income of $-17.09M shows growth is flowing through. However, net income is negative at $441.58M — growth is not yet reaching the bottom line. Revenue is growing at a healthy pace — a signal to hold.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin
23.7%
EBITDA Margin
-819.7%
Op. Margin
-833.2%
100.0%
Net Margin
-23433.4%
100.0%
Op. margin of -833.2% is up 60491466.8% YoY — cost efficiency is improving. Net margin at -23433.4% and gross margin of 23.7% — earnings take a bigger bite when COGS stays lean..

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
N/A
P/S Ratio
2061.4x
P/B Ratio
N/A
P/S of 2061.4x and P/B of 0.0x. A high P/S suggests growth expectations are priced in.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$85.62M
Cash
N/A
Long-Term Debt
$2.61M
Book Value
$-10.82M
D/E Ratio
N/A
Debt/EBITDA
N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$-5.57M
Free Cash Flow
$-5.59M
1077.6%
FCF Margin
-297.7%
FCF / Net Income
0.0
FCF of $-5.59M on $-5.57M in operating cash flow. The FCF / Net Income ratio of 0.0x indicates partial cash conversion — earnings quality needs attention.

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