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Hadron Energy

HDRN
21
Industrial - Machinery · Industrials
Price
$2.19
+0.06 (+2.82%)
Market Cap
$156.6M
Exchange
NASDAQ Global Market
Winston Score
21
Winston is worried
Weak fundamentals across most pillars.
Data as of Aug 27, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Weak
Growth
Weak
Cash Flow
Weak
Stability
Good
Valuation
Data not available

Winston Score History

The full picture

Hadron Energy is a small industrial company focused on developing advanced energy and machinery technologies. The company works on specialized equipment and systems aimed at improving energy efficiency and industrial processes. It operates in the broader industrial machinery space, serving commercial and industrial customers.

Hadron generates revenue primarily through equipment sales and related services. The company is US-based and very small, with a market cap around $200 million. Its operating margin is deeply negative at roughly -89%, indicating the business is still in an early or transitional stage and spending heavily relative to its revenue. The key risk for Hadron is whether it can scale revenue fast enough to reach profitability before needing additional capital, which could dilute existing shareholders.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

Revenue data limited

EPS Growth

<−1,000% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

Research and development spending

Insider Activity

99.0%ownership

Insiders own a meaningful stake in the company

Cash Runway

~5 years

$410M cash & investments

Quarterly Free Cash Flow

$410M cash & investments at current burn rate

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

0.0% over 1y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 33.3M (2024) → 33.3M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
32.8%
Modest — 32.8% gross margin
Profit after running costs
Operating Margin
-77.7%
Losing money on operations — -77.7%
Return on the money invested
ROCE
-4.2%
Weak — -4.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
N/A
Data not available
Profit growth
EPS YoY
-539.0%
Earnings shrinking (-539.0% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
1/5 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-70.6%
Burning cash (-70.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
0.02
Conservative — low debt load (0.02)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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