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Home CompaniesThermal Energy International Inc.

Thermal Energy International Inc.

Industrials Pollution & Treatment Controls
PortfolioPortfolio WatchlistWatchlist
Company price
0.155 CAD -0.01 ( 3.12%)
Last update at 2026-11-04T14:40:00Z
VOLUME
3811
Market Cap
27.31M

Momentum Score

…

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; FLUACE-ACE heat recovery, a direct contact condensing heat recovery system that recycles the heat lost through the boiler flue gas exhaust; and DRY-REX biomass dryer, a low temperature biomass dryer. It also provides boiler feedwater economizer, vent condenser, boiler blowdown heat recovery, heat recovery steam generator, indirect contact condensing heat recovery, and air to air heat exchange. The company serves its products to food and beverage, pulp and paper, hospital, pharmaceutical, chemicals and petrochemicals, and other industry sectors. Thermal Energy International Inc. was incorporated in 1991 and is headquartered in Ottawa, Canada.

Source: TradingView
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Day Price Range
0.15
Low
0.15
High
52 Week Price Range
0.10
Low
0.20
High

Momentum Score

…
Loading momentum score…

A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

Thermal Energy International designs and installs industrial heat-recovery and energy-efficiency systems to lower fuel use, water consumption and greenhouse-gas emissions. Long-term growth may be supported by rising energy costs, decarbonization targets and regulatory efficiency requirements that drive retrofit spending. The company offers exposure to a niche market with recurring service revenue and measurable operational savings.
Key risks include small-company scale and limited liquidity, project execution and contract-concentration risk, cyclical industrial capital spending and competition from larger engineering firms.

Risk Score
Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
0.16
Dividend Yield
-
Revenue TTM
29.68M
Revenue Per Share
0.16
Gross Profit TTM
13.14M
Debt / Equity
-
ROE
14.58%
Net Debt
0.45M
ROCE
9.17%
Diluted EPS TTM
-

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2025-05-31 2024-05-31 2023-05-31 2022-05-31 2021-05-31
Type yearly yearly yearly yearly yearly
Date 2025-05-31 2024-05-31 2023-05-31 2022-05-31 2021-05-31
Income before tax 0.18M 1.00M 0.69M -1.75M 0.02M
Minority interest -0.09M -0.05M -0.00M -0.08M -0.08M
Net income 0.07M 0.93M 0.72M -1.92M 0.20M
Selling general administrative 6.46M 10.82M 4.72M 4.58M 3.96M
Selling and marketing expenses 5.07M - 3.60M 3.61M 2.54M
Gross profit 12.34M 12.45M 9.57M 6.73M 6.75M
Reconciled depreciation 0.76M 0.72M 0.61M 0.70M 0.56M
Ebit 0.41M - 1.14M -1.41M 0.34M
Ebitda 0.80M - 1.76M -0.72M 0.89M
Depreciation and amortization 0.39M - 0.61M 0.70M 0.56M
Operating income 0.41M 1.37M 1.14M -1.41M 0.34M
Other operating expenses 29.37M - 19.95M 17.32M 15.01M
Interest expense 0.23M 0.42M 0.45M 0.34M 0.32M
Tax provision 0.02M 0.02M -0.03M 0.09M -0.20M
Interest income 0.06M 0.05M 0.00M - 0.00M
Net interest income -0.23M -0.37M -0.45M -0.34M -0.32M
Income tax expense 0.02M - -0.03M 0.09M -0.20M
Total revenue 29.78M 25.88M 21.09M 15.91M 15.35M
Total operating expenses 11.94M 24.51M 8.43M 8.15M 6.42M
Cost of revenue 17.44M 13.43M 11.52M 9.18M 8.60M
Total other income expense net -0.23M - -0.45M -0.34M -0.32M
Net income from continuing ops 0.16M 0.98M 0.72M -1.84M 0.22M
Net income applicable to common shares 0.07M - 0.72M -1.92M 0.20M
Breakdown 2025-05-31 2024-05-31 2023-05-31 2022-05-31 2021-05-31
Type yearly yearly yearly yearly yearly
Date 2025-05-31 2024-05-31 2023-05-31 2022-05-31 2021-05-31
Total assets 11.95M 16.79M 13.51M 9.60M 11.55M
Intangible assets 0.49M 0.63M 0.85M 1.03M 1.03M
Total liab 8.38M 13.37M 11.59M 8.55M 8.58M
Total stockholder equity 3.57M 3.46M 1.97M 1.08M 3.04M
Other current liab - - 2.59M 1.59M 1.98M
Common stock - - 32.53M 32.48M 32.44M
Capital stock 32.80M 33.25M 32.53M 32.48M 32.44M
Retained earnings -34.66M -34.73M -35.66M -36.38M -34.46M
Other liab - - 0.00M 0.00M 0.06M
Other assets - - 0.09M 0.02M 0.11M
Cash 2.80M 6.97M 2.81M 2.46M 4.24M
Total current liabilities 7.51M 10.70M 7.99M 4.24M 4.77M
Net debt - - 0.45M 1.47M -
Short long term debt 0.33M 0.92M 0.92M 0.80M 0.85M
Other stockholder equity - - 0.17M 0.24M 0.53M
Property plant equipment - - 1.55M 1.54M 1.82M
Total current assets 9.91M 14.21M 11.03M 7.01M 8.58M
Net tangible assets - - 1.12M 0.05M 2.01M
Net receivables 3.49M 3.29M 6.13M 3.16M 3.18M
Long term debt 0.00M 1.43M 2.35M 3.14M 2.41M
Inventory 2.26M 1.85M 1.47M 1.05M 0.96M
Accounts payable 1.51M 2.43M 2.24M 0.66M 0.80M
Non current assets total 2.04M 2.58M 2.48M 2.58M 2.97M
Capital lease obligations 1.26M 1.54M 1.46M 1.37M 1.55M
Breakdown 2025-05-31 2024-05-31 2023-05-31 2022-05-31 2021-05-31
Type yearly yearly yearly yearly yearly
Date 2025-05-31 2024-05-31 2023-05-31 2022-05-31 2021-05-31
Investments -0.08M -0.38M -0.08M -0.35M -0.13M
Change to liabilities - - 3.53M -0.48M -1.04M
Total cashflows from investing activities -0.08M - -0.08M -0.35M -0.13M
Net borrowings -2.38M - -1.04M 0.35M 0.68M
Total cash from financing activities -2.41M -1.06M -1.04M 0.36M 0.89M
Net income 0.07M 0.93M 0.72M -1.84M 0.22M
Change in cash -4.17M 3.97M 0.37M -1.61M -0.53M
Begin period cash flow 6.97M 3.00M 2.63M 4.24M 4.77M
End period cash flow 2.80M 6.97M 3.00M 2.63M 4.24M
Total cash from operating activities -1.67M 5.40M 1.41M -1.64M -1.19M
Depreciation 0.76M 0.72M 0.61M 0.70M 0.56M
Dividends paid 0.06M 0.05M 0.02M 0.03M 0.01M
Change to inventory -0.23M -0.12M -0.42M -0.10M -0.11M
Change to account receivables -0.32M - -3.33M 0.06M -0.98M
Sale purchase of stock 0.03M - -0.03M -0.03M -0.22M
Other cashflows from financing activities -0.02M - 0.03M 1.33M 1.30M
Change to netincome - - 0.29M 0.10M 0.20M
Capital expenditures 0.08M 0.38M 0.08M 0.35M 0.13M
Change in working capital -3.22M 3.33M -0.22M -0.51M -2.14M
Stock based compensation 0.25M 0.24M 0.22M 0.22M 0.21M
Other non cash items -2.80M 0.37M 0.10M -0.29M 0.17M
Free cash flow -1.75M 5.02M 1.33M -1.99M -1.31M

Peer Comparison*

Sector: Industrials Industry: Pollution & Treatment Controls

Stock Name
Change
(CAD)
Price
(CAD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
TMG
Thermal Energy International Inc.		 -0.01
3.12%		 0.15 - 21.98 0.92 6.18 0.89 17.14
BRM
BioRem Inc.		 0.36
9.60%		 4.11 26.36 9.29 1.35 3.90 1.22 11.86
QST
Questor Technology Inc.		 -0.01
1.85%		 0.27 - 6.00 1.22 0.42 0.72 9.32
APL
Appulse Corp		 -
-%		 0.23 - - 0.42 1.10 0.58 6.23
SAY
Sparta Capital Ltd		 -
-%		 0.02 - - 0.29 63.11 0.57 4.06

Profile*

Thermal Energy International Inc.

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; FLUACE-ACE heat recovery, a direct contact condensing heat recovery system that recycles the heat lost through the boiler flue gas exhaust; and DRY-REX biomass dryer, a low temperature biomass dryer. It also provides boiler feedwater economizer, vent condenser, boiler blowdown heat recovery, heat recovery steam generator, indirect contact condensing heat recovery, and air to air heat exchange. The company serves its products to food and beverage, pulp and paper, hospital, pharmaceutical, chemicals and petrochemicals, and other industry sectors. Thermal Energy International Inc. was incorporated in 1991 and is headquartered in Ottawa, Canada.

36 Antares Drive, Ottawa, ON, Canada, K2E 7W5

613-723-6776

https://www.thermalenergy.com

Name Title Year Born
Mr. William M. Crossland B. Sc, MBA Pres, CEO & Director NA
Ms. Jie Zhang Chief Financial Officer NA
Mr. Robert W. Triebe Chief Operating Officer NA
Ms. Deborah LaBarge Weinstein Corp. Sec. 1960
Mr. Vince Sands Founder & Pres of Boilerroom Equipment Inc NA
Mr. Samuel Thomas Mawby M.B.A., MEng Director of Bus. Devel. & Technology NA
Mr. William M. Crossland B. Sc, MBA President, CEO & Director NA
Ms. Jie Zhang C.A., CPA Chief Financial Officer NA
Mr. Robert W. Triebe B.Sc., P.Eng. Chief Operating Officer NA
Mr. Vince Sands P.E. Founder & President of Boilerroom Equipment Inc NA

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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