J-Star Holding Co. Ltd. Class A Ordinary Shares (YMAT)

FairStock Score: 50/100 — MIXED

Key Financials

AI Analysis

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

I look for businesses with durable moats, honest accounting, and a margin of safety. J-Star is a 65-employee specialty composites maker in bicycles, paddle rackets, and carbon-fiber parts, with a partnership to develop made-in-USA capacity with Patriot Green Energy. That is a narrow, understandable niche, but the financials are not for a defensive investor. At the 2026-10-13 close of $1.87, the market capitalization is only $4.5 million. FairStock’s calculations show a P/B of 2.28 at that close, so the price is more than twice book despite the losses. The supplied per-share figure is -$6.15; the FairStock-calculated P/E is -0.30. FairStock-calculated ROE is -648.50% and ROCE is -81.75%, which tells me capital is being destroyed. Debt-to-equity of 1.15 adds leverage to that weakness. The Piotroski F-Score is 0/9 and the Altman Z-Score is -5.79, both pointing to acute financial distress. The FairStock Score is 50/100, but with no Lynch category because there are only 0 years of filed results—three are needed—I have no multi-year record to judge. Revenue and profit growth are N/A, so I cannot verify recovery. The 52-week range of $0.23 to $4.49 is wild, and there is no dividend. A Graham-style bargain needs assets or earnings to protect the downside; here, negative returns and high leverage mean the burden is on any turnaround. The partnership could matter, but I would need evidence of profitable growth before calling this business strong or the price cheap.

In plain English: J-Star Holding makes bicycle parts, paddle rackets, and carbon fiber composite products. The business looks weak: the figures show losses, very poor returns on the money invested, and debt higher than its equity. At the 2026-10-13 close of $1.87, the price is more than twice the company's accounting value, so it looks expensive rather than cheap based on the numbers given.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

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