PyroGenesis Inc.
PyroGenesis Inc. is a Canadian high-tech company specializing in the design, development, manufacture, and commercialization of advanced plasma processes and sustainable solutions aimed at reducing greenhouse gas emissions. The company leverages proprietary and patented plasma technologies, capable of generating temperatures comparable to the sun's surface, to serve multiple large-scale industrial markets including iron ore pelletization, aluminum production, waste management, and additive manufacturing such as 3D printing. PyroGenesis provides engineering expertise, contract research, and turnkey process equipment to sectors like defense, mining, metallurgical, oil and gas, and environmental industries. Operating out of Montreal with extensive manufacturing facilities, PyroGenesis emphasizes innovation, quality certifications, and a competitive advantage through continuous technological advancement. Its products and services include plasma atomized metal powders, aluminum and zinc dross recovery, custom plasma torches, and waste conversion processes, positioning PyroGenesis as a leader in applying advanced thermal plasma technologies in industrial applications worldwide.
$0.15
-$0.00 (-1.28%)
EOD Oct 16, 2026
The business is unprofitable at the operating level (-101.45% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 19.7% YoY. Margins deteriorated 60.0pp alongside, both lines moving the wrong way.
ROIC dropped from -56.30% to -128.69%, capital efficiency is deteriorating. Negative free cash flow of -C$10M. The business is consuming cash, not generating it.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
C$16M
▼ -19.7% YoY
Net Income (TTM)
-C$10M
▼ -121.1% YoY
Op. Margin
-61.76%
▼ -60.0pp YoY
ROIC
-128.69%
▼ -72.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-C$12M
▼ -280.0% YoY
Op. Cash Flow (TTM)
-C$12M
▼ -325.0% YoY
Net Debt
C$6M
Cash & Equiv.
C$1M
3Y CAGR: -12.9%
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Is PyroGenesis (PYRGF) overvalued?
PyroGenesis (PYRGF)'s valuation is best read against its own history, its peers, and the growth its price implies. A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, PyroGenesis scores 15/100 on Intrinsiqq's quality scorecard (a lower-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. All figures are computed from company filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
Is PyroGenesis a high-quality business?+
PyroGenesis scores 15 out of 100 on Intrinsiqq's quality score, a weighted blend of 6 metrics each scored 0 to 100, which makes it a lower-quality business on these measures. Recent fundamentals include a -61.8% operating margin and a -128.7% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from company filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Is PyroGenesis a good stock to buy right now?+
That depends on valuation and quality together, not either alone. you should weigh PYRGF's valuation and scores 15/100 on quality (lower-quality). A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from company filings, not investment advice.
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Data sourced from company filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.