CN Energy Group Inc. Class A Ordinary Shares (CNEY)

FairStock Score: 45/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

At the close on 2026-10-13, Mr. Market was asking $0.48 for CN Energy, valuing the whole enterprise at $5.3 million. On the surface, a FairStock price-to-book ratio of 0.06 is the kind of statistic Graham loved: you appear to be buying a dollar of net assets for six cents. But Graham also insisted that assets must be real and earnings must eventually show up. Here they do not. The P/E is negative, and FairStock’s return calculations show ROE of -84.27% and ROCE of -37.17%. Those are not the marks of a business compounding capital; they are marks of capital destruction. The Piotroski F-Score of 0/9 and Altman Z-Score of 0.92 reinforce that financial health is poor, even though debt-to-equity of 0.14 is modest. CN Energy makes wood-based activated carbon for water purification, pharmaceuticals, and food processing, and also has biomass electricity and material trading operations. With only 25 employees, it is tiny and likely lacks the scale or pricing power of a durable moat. The lack of a Lynch category—because there are only 0 years of filed results and three are needed—tells me I cannot judge a multi-year growth record. Revenue and profit growth are not available, so I have no evidence of a turnaround. A low P/B can be a bargain, but when returns are deeply negative, book value may shrink. I would want proof of stable earnings and asset value before treating this as an investment rather than a speculation.

In plain English: CN Energy makes wood-based activated carbon, biomass electricity, and sells various materials. The business looks weak: it is losing money, has poor financial health scores, and very little filed history. The 48-cent price looks very cheap compared with its net assets, but that cheapness may reflect real trouble.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer