Tearsheet

J-Star (YMAT)

Market Price (10/31/2025): $0.8784 | Market Cap: $-
Sector: Materials | Industry: Specialty Chemicals

J-Star (YMAT)

Market Price (10/31/2025): $0.8784
Market Cap: $-
Sector: Materials
Industry: Specialty Chemicals

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

Penny stock
Mkt Price is 0.9

0	Penny stock Mkt Price is 0.9

Market Valuation & Key Metrics

Valuation
Key Metrics

	10/31/25	2024	2023	2022
Share Price CYE	$0.88
Market Cap CYE ($ Bil)	0.0	-	-	-
Total Debt ($ Bil)	0.0	0.0	0.0	0.0
Total Cash ($ Bil)	0.0	0.1	0.0	0.0
Enterprise Value ($ Bil)	0.0
Valuation Ratios
P/S TTM	0.0	0.0	0.0	0.0
P/EBIT TTM	0.0	0.0	0.0	0.0
P/E TTM	0.0	0.0	0.0	0.0
Sector Ratios
P/S TTM (Sector)	3.0	3.0	2.8	2.7
P/EBIT TTM (Sector)	6.8	6.8	7.0	6.2
P/E TTM (Sector)	11.8	11.5	10.1	9.3

	10/31/25	2024	2023
Share Price CYE	$0.88
Market Cap CYE ($ Bil)	0.0	-	-
Total Debt ($ Bil)	0.0	0.0	0.0
Total Cash ($ Bil)	0.0	0.1	0.0
Enterprise Value ($ Bil)	0.0
Valuation Ratios
P/S TTM	0.0	0.0	0.0
P/EBIT TTM	0.0	0.0	0.0
P/E TTM	0.0	0.0	0.0
Sector Ratios
P/S TTM (Sector)	3.0	3.0	2.8
P/EBIT TTM (Sector)	6.8	6.8	7.0
P/E TTM (Sector)	11.8	11.5	10.1

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YMAT Stock

Return (1M):

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Factor Drivers of Stock Movement

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Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
YMAT Return	-	-	-	-	-	-	0%
Peers Return	13%	33%	-49%	-10%	5%	18%	-14%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	110%
Monthly Win Rates [3]
YMAT Win Rate	-	-	-	-	-	0%
Peers Win Rate	43%	52%	37%	47%	45%	42%
S&P 500 Win Rate	58%	75%	42%	67%	75%	67%
Max Drawdowns [4]
YMAT Max Drawdown	-	-	-	-	-	-
Peers Max Drawdown	-46%	-2%	-62%	-40%	-46%	-41%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: FUL, GEVO, FSI, LOOP, BON.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/30/2025 (YTD)

How Low Can It Go

YMAT has limited trading history. Below is the Materials sector ETF (XLB) in its place.

Unique Key	Event	XLB	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-25.7%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	34.5%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	534 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-37.6%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	60.2%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	121 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-26.1%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	35.4%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	617 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-60.7%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	154.6%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1761 days	1480 days

Compare to

In The Past

Materials Select Sector SPDR's stock fell -25.7% during the 2022 Inflation Shock from a high on 4/20/2022. A -25.7% loss requires a 34.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About J-Star (YMAT)

Business Description

Our Predecessor Group was established in 1970 and we have accumulated over 50 years of know-how in the material composite industry. We develop and commercialize the technology on carbon reinforcement and resin systems. With decades of experience and knowledge in composites and materials, we are able to apply our expertise and technology on designing and manufacturing a great variety of lightweight, high-performance carbon composite products, ranging from key structural parts of electric bicycles and sports bicycles, rackets, automobile parts to healthcare products. According to the industry report commissioned by us and prepared by Frost & Sullivan, we are one of the major global leading players in the carbon fiber bicycle parts industry and carbon fiber racket parts industry. As our business is technology-driven, our vision is to offer cutting-edge technology and manufacturing expertise in carbon composite to our customers. Our carbon composite products deliver substantial weight savings, endurance and stiffness comparing to those constructed from conventional materials, such as steel and aluminum, and in doing so, our products offer remarkable and valuable efficiency and performance benefits to our customers in various applications. While our technology has potential applications over a broad range of industries, we currently have our main focus on the sporting goods industry and we prioritize the electric bicycle market to commercialize our technology. We are based in Taiwan with our headquarters, research and development (“R&D”) center and material laboratory located in Taichung, Taiwan. The R&D center in Taichung focuses on resin material applications, new product development, production process enhancement, structural design of products, testing on product performance and enhancement on strength and stiffness of products. Our business focuses on the research and development to provide wide range of carbon composite products solutions. As of the date of this prospectus, (i) with respect to manufacturing, we outsourced our manufacturing to a number of factories in the PRC and will gradually expand such outsourced factories to the U.S. and Europe; and (ii) with respect to R&D, we have retained at least 10 engineers from the PRC to assist our R&D center in Taiwan to build a prototype line which we will implement in our upcoming production in the U.S. and Europe. We primarily generate revenue through three divisions and revenue streams, namely (i) sales of bicycles parts of sports bicycles and electric bicycles; (ii) sales of paddle rackets for use in racket games such as tennis, badminton, squash and beach tennis; and (iii) sales of other products, which mainly include structural parts of automobiles, other sporting goods and healthcare products. Our bicycle parts and rackets are mainly supplied directly or indirectly to customers located in Switzerland, France, Italy, the Netherlands, Germany and Japan and they market and distribute their products worldwide. Other customers which rely on our new products, such as automobile parts and healthcare products, are mainly located in Australia, Canada and Japan. Advanced carbon composite materials offer a number of advantages relative to traditional materials, including light weight, high strength to weight ratio, high stiffness, and improved resistance to heat, corrosion and fatigue. Nonetheless, different products require different degrees and combinations of such properties according to their functions. Carbon composite materials are formed by combining carbon fibers and resins. The properties of carbon composite materials could vary largely due to different systems of resin and structural arrangement. Differing from our competitors in the industry, instead of using preset formulas of resins with lower degrees of flexibility, we have our own R&D center to develop our own resin systems and formulas according to the product requirements. Therefore, we are able to incorporate customized resin systems that can be optimized for specific parameters, such as durability, temperature performance, cure times and viscosity. This not only allows us to present to clients our products with high precision to customers’ specifications from outsourced factories, but also offers us flexibility in developing a greater variety of new products in the future. Thus, we believe that the parallel development of our complex product and process technology has resulted in our competitive advantage which makes it difficult for our competitor to replicate. In April 2023, we disposed of our 80.5% equity interests in each of our two PRC operating subsidiaries, namely, Dongguan YMA and Dongguan Forwell. Prior to the disposals, products under the original equipment manufacturing (“OEM”) and the original design manufacturing (“ODM”) business models were manufactured by both Dongguan YMA and Dongguan Forwell in our production plant in Dongguan, the PRC. After the disposals, we will continue to utilize Dongguan YMA and Dongguan Forwell to manufacture products under the ODM and OEM business models for the next five years, as we have entered into OEM/ODM agreements and their respective supplemental agreements with the two entities in April 2023. Our management team believes that the foregoing disposals will not materially impact our ODM and OEM models as we will procure and/or provide the raw materials (carbon fiber yarn from our Japan supplier) utilizing our in-house resin technologies for manufacturing that are required under the ODM and OEM models, and thus, we will continue to control the quality of the raw materials. Under both business models, our sales team or R&D team will oversee product development processes and conduct quality control on the semi-finished products and the finished products, as has been our practice in the past. Simultaneously, we will also build our production bases in USA and Europe regions to diversify our production. Our total revenue for the years ended December 31, 2023 and 2024 amounted to $23.8 million and $17.6 million, respectively. Our sales of bicycle parts accounted for approximately 64.0% and 82.0% of our total revenues for the years ended December 31, 2023 and 2024, respectively. Our sales from our rackets business segment brought us considerable revenue for the years ended December 31, 2023 and 2024, which accounted for approximately 29.6% and 9.6%, respectively, of our total revenues. Our sales of other products accounted for approximately 6.4% and 8.4%, respectively, of our total revenues for the years ended December 31, 2023 and 2024. While having our main focus on development and sales of key structural parts of bicycles and rackets in the past years, we would not limit ourselves to the existing scope of products. We intend to extend our product spectrum by launching new products, such as sporting goods for new sports such as paddles for racket sports and mast foils for surfing, and further expand our production on relatively new existing products that are emerging in the market, including key structural parts of electric bicycles, automobile and robotic arms, bicycle crank sets and other healthcare products, such as wheelchairs and senior walkers. We target to achieve growth in terms of both scale and scope. To expand our scale, we have identified strategic investments post initial public offering. First, in October 2022, we entered into a non-binding memorandum of understanding with an Abu Dhabi company to build and operate a carbon fiber bicycle manufacturing facility in Khalifa Industrial Zone, Abu Dhabi, United Arab Emirates, to serve the European market through acquisition, joint venture and/or co-branding production. Second, in April 2023, we entered into a non-binding memorandum of understanding with a potential partner, a French based manufacturing company, to form a partnership to build a carbon fiber racquet brand and manufacturing factory in France. Lastly, in April 2023, we entered into a non-binding memorandum of understanding with a potential acquisition target, a United Kingdom based bicycle company engaging in sales marketing and distribution in the bicycle and sporting goods trade, to acquire not less than 30% of the potential acquisition target’s shareholding. As such, this will enable us to diversify our business operations into the retail bicycle market industry and to establish the U.S. Production Line and R&D center (as discussed below) in Houston to serve the U.S. market. As for growth in terms of scope, we anticipate that, by the third quarter of 2025, we will launch our own brand on electric bicycle and sporting goods, and will establish sales and administration offices in the U.S., which will work closely with our office in Taiwan for U.S. market sales and expansion, and in the Netherlands, which will be handling sales on our online business platform. We also expect to further extend our production of automobile parts so as to leverage on the surging market demand for electric vehicles. By December 2025, we expect to establish our U.S. Production Line and R&D center in the U.S., with a view to developing automation of our production process and integrating the most advanced technology to our production. In this regard, we intend to invest in a manufacturer of carbon fiber products in the U.S. We have been in contact with several potential target companies in the U.S., one of which is a U.S.-based aerospace composite parts manufacturer. We also plan to establish our second R&D center in Houston, Texas and our initial plan is to hire 2 employees for developing composite material and conducting research on chemical interactions. Our principal executive offices in Taiwan are located in Taichung City 407, Taiwan.

	Best Bets In Materials Sector
What You Pay
P/E	�	26.0	28.0	31.0	10.4	15.5	30.2	14.7	12.6	8.5	13.5
P/EBIT	�	22.3	24.2	18.4	6.6	11.3	21.7	10.7	8.6	5.5	8.2
What You Get
Rev Chg Q	�	20.4%	19.6%	20.1%	20.2%	4.3%	2.8%	0.6%	20.0%	-9.2%	-2.4%
Rev Chg LTM	�	30.1%	22.0%	23.2%	9.5%	0.9%	1.3%	3.7%	26.6%	-3.6%	-1.8%
Rev Chg 3Y Avg	�	8.2%	19.1%	3.3%	-12.4%	5.6%	0.6%	4.7%	23.9%	-2.5%	2.7%
FCF/Rev 3Y Avg	�	10.2%	24.7%	23.7%	21.3%	17.5%	15.4%	14.0%	13.8%	8.9%	8.0%

Trade Ideas

Select past ideas related to YMAT. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
AXTA_9302025_Dip_Buyer_FCFYield	09302025	AXTA	Axalta Coating Systems	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	0.1%	0.1%	-7.8%
GPK_9302025_Dip_Buyer_ValueBuy	09302025	GPK	Graphic Packaging	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-17.9%	-17.9%	-17.9%
FCX_9302025_Monopoly_xInd_xCD_Getting_Cheaper	09302025	FCX	Freeport-McMoRan	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	6.8%	6.8%	-0.9%
KWR_7312025_Dip_Buyer_FCFYield	07312025	KWR	Quaker Houghton	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	10.3%	10.3%	0.0%
TGLS_6302025_Quality_Momentum_RoomToRun_10%	06302025	TGLS	Tecnoglass	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	-23.9%	-23.9%	-23.9%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
AXTA_9302025_Dip_Buyer_FCFYield	09302025	AXTA	Axalta Coating Systems	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	0.1%	0.1%	-7.8%
GPK_9302025_Dip_Buyer_ValueBuy	09302025	GPK	Graphic Packaging	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-17.9%	-17.9%	-17.9%
FCX_9302025_Monopoly_xInd_xCD_Getting_Cheaper	09302025	FCX	Freeport-McMoRan	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	6.8%	6.8%	-0.9%
KWR_7312025_Dip_Buyer_FCFYield	07312025	KWR	Quaker Houghton	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	10.3%	10.3%	0.0%
TGLS_6302025_Quality_Momentum_RoomToRun_10%	06302025	TGLS	Tecnoglass	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	-23.9%	-23.9%	-23.9%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	GH	Guardant Health	27.9%	202.5%
2	GCI	Gannett	27.7%	3.8%
3	FORM	FormFactor	24.2%	34.7%
4	VIAV	Viavi Solutions	22.3%	69.3%
5	GSAT	Globalstar	22.2%	63.5%
6	MTSR	Metsera	22.1%	63729900.0%
7	PRM	Perimeter Solutions	21.1%	102.3%
8	CHRW	C.H. Robinson Worldwide	19.7%	52.6%
9	INSM	Insmed	16.3%	181.3%
10	CAH	Cardinal Health	15.4%	62.8%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	FMC	FMC	-46.5%	-66.6%
2	APLS	Apellis Pharmaceuticals	-31.0%	-35.0%
3	THRY	Thryv	-30.2%	-44.8%
4	SFM	Sprouts Farmers Market	-26.1%	-39.2%
5	IART	Integra Lifesciences	-23.5%	-47.9%
6	ITRI	Itron	-21.1%	0.4%
7	WOLF	Wolfspeed	-18.2%
8	CMG	Chipotle Mexican Grill	-18.2%	-46.1%
9	CI	Cigna	-17.4%	-9.2%
10	EME	EMCOR	-16.6%	43.0%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	INBX	Inhibrx Biosciences	176.8%	409.8%
2	PUMP	ProPetro	71.2%	16.2%
3	RNA	Avidity Biosciences	43.5%	139.6%
4	DYN	Dyne Therapeutics	42.8%	-0.0%
5	GCI	Gannett	39.3%	3.8%
6	FORM	FormFactor	38.3%	34.7%
7	MBX	MBX Biosciences	35.1%	18.2%
8	BBNX	Beta Bionics	33.8%
9	GH	Guardant Health	33.3%	202.5%
10	LUMN	Lumen Technologies	32.7%	94.7%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	PMI	Picard Medical	-75.2%	5106.3%
2	LRN	Stride	-56.1%	-35.8%
3	NTLA	Intellia Therapeutics	-52.6%	5.2%
4	FMC	FMC	-48.7%	-66.6%
5	FI	Fiserv	-47.4%	-68.3%
6	VRNS	Varonis Systems	-43.8%	-21.2%
7	THRY	Thryv	-33.4%	-44.8%
8	NFE	New Fortress Energy	-30.5%	-91.9%
9	AKBA	Akebia Therapeutics	-29.5%	10.5%
10	UAMY	United States Antimony	-28.9%	371.2%

1 Month Top Gainers

#	Ticker	Company	1M Rtn	YTD Rtn
1	PRAX	Praxis Precision Medicines	279.1%	161.2%
2	INBX	Inhibrx Biosciences	131.0%	409.8%
3	PUMP	ProPetro	99.6%	16.2%
4	DYN	Dyne Therapeutics	88.4%	-0.0%
5	VICR	Vicor	85.4%	89.2%
6	CELC	Celcuity	74.6%	503.2%
7	GLUE	Monte Rosa Therapeutics	73.5%	87.5%
8	NVTS	Navitas Semiconductor	72.1%	251.8%
9	LUMN	Lumen Technologies	70.3%	94.7%
10	BALY	Ballys	63.4%	4.1%

1 Month Top Losers

#	Ticker	Company	1M Rtn	YTD Rtn
1	PMI	Picard Medical	-62.9%	5106.3%
2	LRN	Stride	-53.8%	-35.8%
3	FMC	FMC	-51.0%	-66.6%
4	FI	Fiserv	-48.3%	-68.3%
5	NFE	New Fortress Energy	-43.6%	-91.9%
6	VG	Venture Global	-41.7%
7	OGN	Organon	-40.2%	-55.0%
8	VRNS	Varonis Systems	-39.5%	-21.2%
9	ITGR	Integer	-38.5%	-52.2%
10	LENZ	LENZ Therapeutics	-37.9%	5.5%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	GH	Guardant Health	27.9%	202.5%
2	GCI	Gannett	27.7%	3.8%
3	FORM	FormFactor	24.2%	34.7%
4	VIAV	Viavi Solutions	22.3%	69.3%
5	GSAT	Globalstar	22.2%	63.5%
6	MTSR	Metsera	22.1%	63729900.0%
7	PRM	Perimeter Solutions	21.1%	102.3%
8	CHRW	C.H. Robinson Worldwide	19.7%	52.6%
9	INSM	Insmed	16.3%	181.3%
10	CAH	Cardinal Health	15.4%	62.8%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	FMC	FMC	-46.5%	-66.6%
2	APLS	Apellis Pharmaceuticals	-31.0%	-35.0%
3	THRY	Thryv	-30.2%	-44.8%
4	SFM	Sprouts Farmers Market	-26.1%	-39.2%
5	IART	Integra Lifesciences	-23.5%	-47.9%
6	ITRI	Itron	-21.1%	0.4%
7	WOLF	Wolfspeed	-18.2%
8	CMG	Chipotle Mexican Grill	-18.2%	-46.1%
9	CI	Cigna	-17.4%	-9.2%
10	EME	EMCOR	-16.6%	43.0%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	INBX	Inhibrx Biosciences	176.8%	409.8%
2	PUMP	ProPetro	71.2%	16.2%
3	RNA	Avidity Biosciences	43.5%	139.6%
4	DYN	Dyne Therapeutics	42.8%	-0.0%
5	GCI	Gannett	39.3%	3.8%
6	FORM	FormFactor	38.3%	34.7%
7	MBX	MBX Biosciences	35.1%	18.2%
8	BBNX	Beta Bionics	33.8%
9	GH	Guardant Health	33.3%	202.5%
10	LUMN	Lumen Technologies	32.7%	94.7%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	PMI	Picard Medical	-75.2%	5106.3%
2	LRN	Stride	-56.1%	-35.8%
3	NTLA	Intellia Therapeutics	-52.6%	5.2%
4	FMC	FMC	-48.7%	-66.6%
5	FI	Fiserv	-47.4%	-68.3%
6	VRNS	Varonis Systems	-43.8%	-21.2%
7	THRY	Thryv	-33.4%	-44.8%
8	NFE	New Fortress Energy	-30.5%	-91.9%
9	AKBA	Akebia Therapeutics	-29.5%	10.5%
10	UAMY	United States Antimony	-28.9%	371.2%

Peer Comparisons for J-Star

Financials

	YMAT	FUL	GEVO	FSI	LOOP	BON	Median
Name	J-Star	H.B. Ful.	Gevo	Flexible.	Loop Ind.	Bon Natu.
Mkt Price	0.94	57.45	2.26	9.05	1.60	1.89	2.07
Mkt Cap	-	3.1	0.5	0.1	0.1	-	0.3
Rev LTM	-	3,502	80	37	11	-	59
Op Inc LTM	-	349	-49	6	-1	-	2
FCF LTM	-	121	-92	0	-1	-	-0
FCF 3Y Avg	-	220	-109	1	-16	-	-7
CFO LTM	-	242	-56	5	-1	-	2
CFO 3Y Avg	-	348	-55	6	-14	-	-4

Growth & Margins

	YMAT	FUL	GEVO	FSI	LOOP	BON	Median
Name	J-Star	H.B. Ful.	Gevo	Flexible.	Loop Ind.	Bon Natu.
Rev Chg LTM	-	-1.3%	341.8%	-1.5%	11,012.0%	-	170.2%
Rev Chg 3Y Avg	-	-1.7%	729.7%	-2.0%	3,661.4%	-	364.0%
Rev Chg Q	-	-2.8%	725.3%	8.0%	-100.0%	-	2.6%
QoQ Delta Rev Chg LTM	-	-0.7%	90.8%	2.3%	-0.2%	-	1.0%
Op Mgn LTM	-	10.0%	-60.6%	16.0%	-13.3%	-	-1.7%
Op Mgn 3Y Avg	-	10.5%	-494.2%	12.9%	-13,399.3%	-	-241.8%
QoQ Delta Op Mgn LTM	-	0.2%	126.0%	3.2%	16.5%	-	9.8%
CFO/Rev LTM	-	6.9%	-70.4%	13.4%	-8.5%	-	-0.8%
CFO/Rev 3Y Avg	-	9.8%	-303.8%	14.1%	-12,027.4%	-	-147.0%
FCF/Rev LTM	-	3.5%	-114.6%	1.0%	-10.9%	-	-5.0%
FCF/Rev 3Y Avg	-	6.2%	-691.7%	3.4%	-13,970.5%	-	-344.2%

Valuation

	YMAT	FUL	GEVO	FSI	LOOP	BON	Median
Name	J-Star	H.B. Ful.	Gevo	Flexible.	Loop Ind.	Bon Natu.
Mkt Cap	-	3.1	0.5	0.1	0.1	-	0.3
P/S	-	0.9	6.6	3.1	6.9	-	4.8
P/EBIT	-	10.1	-11.0	19.6	-6.9	-	1.6
P/E	-	27.2	-9.0	37.6	-6.5	-	10.3
P/CFO	-	12.9	-9.3	22.9	-80.5	-	1.8
Total Yield	-	4.9%	-11.1%	2.7%	-15.3%	-	-4.2%
Dividend Yield	-	1.2%	0.0%	0.0%	0.0%	-	0.0%
FCF Yield 3Y Avg	-	5.7%	-49.1%	4.4%	-12.5%	-	-4.0%
D/E	-	0.7	0.3	0.1	0.0	-	0.2
Net D/E	-	0.6	0.2	-0.0	-0.1	-	0.1

Returns

	YMAT	FUL	GEVO	FSI	LOOP	BON	Median
Name	J-Star	H.B. Ful.	Gevo	Flexible.	Loop Ind.	Bon Natu.
1M Rtn	-21.7%	-2.7%	15.3%	-6.1%	8.1%	-3.1%	-2.9%
3M Rtn	-79.2%	2.6%	73.8%	69.7%	-1.8%	38.0%	20.3%
6M Rtn	-	7.5%	109.3%	146.9%	46.1%	15.4%	46.1%
12M Rtn	-	-21.7%	-11.4%	128.1%	15.1%	-94.9%	-11.4%
3Y Rtn	-	-14.4%	0.4%	207.4%	-46.1%	-99.5%	-14.4%
1M Excs Rtn	-23.3%	-3.3%	11.3%	-11.2%	5.7%	-5.2%	-4.3%
3M Excs Rtn	-88.4%	-5.6%	75.9%	65.0%	-4.8%	36.0%	15.6%
6M Excs Rtn	-	-14.2%	87.5%	125.2%	24.4%	-6.3%	24.4%
12M Excs Rtn	-	-39.7%	-39.8%	106.0%	-9.0%	-112.0%	-39.7%
3Y Excs Rtn	-	-88.0%	-77.2%	127.8%	-115.2%	-176.3%	-88.0%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	0/0/-1	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	0/0/-1	7/25/2025	6/13/2024	5/24/2023	5/26/2022	3/21/2022	3/21/2022
Key Financials
Total Revenue	-	18	24	39	31	22	23
EBITDA	-	2	2	4	2	3	12
Operating Income	-	1	-1	0	0	2	-2
Net Income	-	1	1	0	-0	1	11
EPS	-	0.06	0.08	0.01	-0.01	0.07	0.65
Growth Rates
Total Revenue Growth	-	-26.1%	-39.6%	25.7%	41.3%	-2.7%	-
EBITDA Growth	-	-20.8%	-33.4%	120.1%	-42.0%	-77.7%	-
Operating Income Growth	-	225.3%	-4543.9%	-92.0%	-85.5%	170.1%	-
Net Income Growth	-	-22.2%	1041.3%	193.5%	-112.0%	-89.9%	-
Margins
EBITDA Margin	-	10.6%	9.9%	9.0%	5.1%	12.5%	54.7%
Operating Income Margin	-	6.3%	-3.7%	0.1%	0.8%	7.7%	-10.7%
Net Income Margin	-	6.3%	6.0%	0.3%	-0.4%	5.0%	48.3%
Cash & Debt
Total Cash	�	1	1	3	3	1	2
Total Debt	0	10	8	11	7	5	3
Net Debt / (Cash)	�	10	7	8	4	3	2
Cash Flows
Net Cash from Operations	-	-3	7	4	-1	0	-2
Free Cash from Operations	-	-3	7	3	-2	-0	-3
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	-0	-0	-0	8

$ Mil \| FY: 12/31
Period End
Filing Date
Key Financials Quarterly
Total Revenue
Ebitda
Operating Income
Net Income
EPS
Key Financials TTM
Total Revenue TTM
Ebitda TTM
Operating Income TTM
Net Income TTM
Growth Rates Quarterly
Total Revenue Growth
EBITDA Growth
Operating Income Growth
Net Income Growth
Margins Quarterly
EBITDA Margin
Operating Income Margin
Net Income Margin
Cash & Debt
Total Cash
Total Debt
Net Debt / (Cash)
Cash Flows Quarterly
FCF from Operations
Cash Flows TTM
FCF from Operations TTM
Returns to Shareholders Quarterly
Dividends
Share Repurchases
Return on Invested Capital (ROIC) Quarterly
ROIC
Return on Invested Capital (ROIC) TTM
ROIC TTM

	1M	2M	3M	6M	1Y	3Y
Beta	8.39	0.43	-0.01	-0.36	1.72	0.87
Up Beta	-14.49	1.31	20.52	-0.18	1.76	1.08
Down Beta	9.90	2.36	-0.15	-2.92	-1.56	0.56
Up Capture	610%	-446%	-318%	-78%	-36%	-3%
Bmk +ve Days	13	23	35	74	144	420
Stock +ve Days	7	18	19	19	19	19
Down Capture	1658%	429%	251%	72%	42%	27%
Bmk -ve Days	8	19	29	52	107	330
Stock -ve Days	12	22	22	22	22	22

Short Interest

Short Interest: As Of Date	10152025
Short Interest: Shares Quantity	520
Short Interest: % Change Since 9302025	-98.6%
Average Daily Volume	61,412
Days-to-Cover Short Interest	1

SEC Filings

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Report Date	Filing Date	Filing
12312024	7252025	F-1/A 12/31/2024
6302024	11142024	F-1/A 6/30/2024
12312023	6132024	F-1/A 12/31/2023
12312022	5242023	F-1/A 12/31/2022
6302022	2082023	F-1/A 6/30/2022
12312021	5262022	F-1/A 12/31/2021
12312020	3212022	F-1 12/31/2020

Insider Activity

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External Quote Links

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2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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J-Star (YMAT)

Market Price (10/31/2025): $0.8784 | Market Cap: $-Sector: Materials | Industry: Specialty Chemicals

J-Star (YMAT)

Market Price (10/31/2025): $0.8784Market Cap: $-Sector: MaterialsIndustry: Specialty Chemicals

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Market Price (10/31/2025): $0.8784 | Market Cap: $-
Sector: Materials | Industry: Specialty Chemicals

Market Price (10/31/2025): $0.8784
Market Cap: $-
Sector: Materials
Industry: Specialty Chemicals