# SunHydrogen, Inc. (HYSR)

> Source: Nexqual · https://nexqual.com/HYSR · data as of 2026-10-23 17:03 UTC · cite as "Nexqual, SunHydrogen, Inc. (HYSR), nexqual.com/HYSR" · informational, not investment advice.

**Price:** USD 0.02 (+0.58% today) · US market open, as of October 23, 2026 at 17:03 UTC; quotes may be delayed. Prev close 0.02 · day 0.02–0.02 · 52w 0.02–0.04 · market cap $99.5M · OQB

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1K, net income -$6.5M (-522521.9% margin) (SEC filings).
- Analysts: None.
- Total return with dividends: 1Y -49.1% vs S&P 500 +14.4%; 5Y -57.8% vs S&P 500 +77.0%.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | $1K | $1K |
| Operating income | -$4.5M | -$9.3M | -$5.0M | -$5.8M | -$7.5M | -$7.5M |
| Net income | $90.0M | $975K | -$9.9M | -$8.2M | -$6.5M | -$6.5M |
| EPS (diluted) | $0.02 | $0.00 | $0.00 | $0.00 | $0.00 | — |
| Free cash flow | — | -$4.3M | -$1.9M | -$3.7M | -$5.1M | — |
| Operating margin | — | — | — | — | -601652.3% | -601652.3% |
| Net margin | — | — | — | — | -522521.9% | -522521.9% |
| Cash + short-term investments | $52.0M | $10.2M | — | $37.6M | $32.1M | — |
| Total debt | $828K | $1.1M | — | — | — | — |
Fiscal years end Jun. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 79568.4x · P/B 3.1x · Earnings yield -6.57%

## Analysts
Consensus None.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -49.1% | -57.8% |
| S&P 500 (SPY) | +14.4% | +77.0% |
| Per year | -49.1% | -15.9% |
| Volatility (annualized) | 75.0% | 78.5% |
| Max drawdown | -54.3% (Nov 2025→Sep 2026) | -85.3% (Nov 2021→Nov 2023) |

## Peers (Solar)
JKS (JinkoSolar Holding Company Limi) USD 8.34 +2.40% · ARRY (Array Technologies, Inc.) USD 3.17 -3.94% · CSIQ (Canadian Solar Inc.) USD 9.21 -0.11% · SHLS (Shoals Technologies Group, Inc.) USD 7.59 -1.88% · RUN (Sunrun Inc.) USD 7.54 -2.08% · SEDG (SolarEdge Technologies, Inc.) USD 33.15 +0.64%

## More
Full page: https://nexqual.com/HYSR · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in HYSR's own 10-K filed 2026-09-25 (https://www.sec.gov/Archives/edgar/data/1481028/000121390026103598/ea0306124-10k_sunhydro.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Siemens | "Most announced renewable hydrogen capacity is concentrated in large centralized projects supplied by electrolyzer manufacturers including Nel ASA, ITM Power, thyssenkrupp nucera, Siemens Energy, John Cockerill Hydrogen, …" |
| Partner | Honda R&D | "Our industrial partners include Honda R&D Co., Ltd.;" |
| Partner | Sparc Technologies | "On August 11, 2026, we entered into a Technology Collaboration and Intellectual Property Protection Agreement with Sparc Hydrogen Pty Ltd, a joint venture of Sparc Technologies Limited, Fortescue Ltd, and the University …" |
| Partner | GHS Investments | "We have funded our operations primarily through sales of equity securities, principally under an equity purchase agreement with GHS Investments, LLC, , that expired on June 3, 2026 in accordance with its terms." |
| Partner | Honda (HMC) | "In addition, intellectual property developed in collaboration with Honda is subject to allocation provisions, and any dispute regarding ownership of jointly developed intellectual property could be costly and could adver…" |
| Partner | CTF Solar | "We conduct much of our development through relationships with third parties, including CTF Solar GmbH for thin film module fabrication, the University of Iowa and the University of Michigan under sponsored research agree…" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter | — | — | — | $0 | — |
| Next quarter | — | — | — | $0 | — |
| Current fiscal year | — | — | — | $0 | — |
| Next fiscal year | — | — | — | $0 | — |