Download PDF

1. Company Snapshot

1.a. Company Description

Li-Cycle Holdings Corp.engages in the lithium-ion battery resource recovery and lithium-ion battery recycling business in North America.The company offers a mix of cathode and anode battery materials, including lithium, nickel, and cobalt, as well as graphite, copper, and aluminum; and copper and aluminum metals.


It also provides lithium carbonate, cobalt sulphate, nickel sulphate, and manganese carbonate.The company is headquartered in Toronto, Ontario.

Show Full description

1.b. Last Insights on LICY

Key negative drivers behind Li-Cycle Holdings Corp.'s recent performance include the commencement of delisting proceedings by the NYSE, which led to the suspension of trading in the company's common shares. Additionally, the company's struggles with financial stability are evident in its need to raise $15 million through an underwritten public offering in January 2025. Furthermore, the delisting from the NYSE and listing on the OTCQX is expected to reduce the company's access to capital and increase its costs.

1.c. Company Highlights

2. Transcript Summary

Unfortunately this company is not part of our coverage yet. But as part of your subscription plan you can request it by clicking just below and we'll process.

3. NewsRoom

Card image cap

Li-Cycle Announces Approval to Trade on the OTCQX® Best Market

Feb -26

Card image cap

NYSE to Commence Delisting Proceedings Against Li-Cycle Holdings Corp. (LICY)

Feb -26

Card image cap

Li-Cycle Provides Recycling Solutions to Growing Battery Energy Storage System (BESS) Market, Including Supporting Artificial Intelligence Technologies in the U.S.

Feb -10

Card image cap

Li-Cycle Further Expands Commercial Footprint in EU with Additional Exclusive Recycling Partnership for its Germany Spoke

Feb -03

Card image cap

Li-Cycle Partners with High-Performance, Luxury Electric Vehicle (EV) Manufacturer for Exclusive Recycling Agreement in Germany

Jan -30

Card image cap

Li-Cycle Provides Perspectives on the “Unleashing American Energy” Executive Order

Jan -24

Card image cap

Li-Cycle Announces Closing of $15 Million Underwritten Public Offering

Jan -16

Card image cap

Li-Cycle Announces Pricing of $15 Million Underwritten Public Offering

Jan -15

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (12.75%)

6. Segments

Black Mass and Equivalents and Shredded Metal

Expected Growth: 12.95%

Li-Cycle Holdings Corp.'s 12.95% growth in Black Mass and Equivalents, and Shredded Metal is driven by increasing adoption of electric vehicles, rising demand for lithium-ion batteries, and growing need for sustainable recycling solutions. Additionally, government incentives and regulations supporting the circular economy, and Li-Cycle's proprietary technology and scalable business model, contribute to this growth.

Recycling Services

Expected Growth: 12.32%

Li-Cycle Holdings Corp.'s 12.32% growth in Recycling Services is driven by increasing demand for sustainable battery recycling, government incentives for eco-friendly practices, and rising adoption of electric vehicles. Additionally, the company's proprietary technology and closed-loop recycling process enable efficient and cost-effective recycling, further fueling growth.

7. Detailed Products

Spoke Resources

Li-Cycle's Spoke Resources are a network of facilities that recycle lithium-ion batteries and other lithium-bearing materials to produce critical battery-grade materials.

Hub and Spoke Network

Li-Cycle's Hub and Spoke Network is a closed-loop lithium-ion battery recycling ecosystem that enables the sustainable production of critical battery materials.

Black Mass

Li-Cycle's Black Mass is a intermediate product generated from the recycling of lithium-ion batteries, containing a mix of metals such as lithium, nickel, cobalt, and graphite.

Lithium Carbonate

Li-Cycle's Lithium Carbonate is a high-purity, battery-grade material used in the production of lithium-ion batteries for electric vehicles and clean energy storage systems.

Nickel Sulfate

Li-Cycle's Nickel Sulfate is a high-purity, battery-grade material used in the production of lithium-ion batteries for electric vehicles and clean energy storage systems.

Cobalt Sulfate

Li-Cycle's Cobalt Sulfate is a high-purity, battery-grade material used in the production of lithium-ion batteries for electric vehicles and clean energy storage systems.

8. Li-Cycle Holdings Corp.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Li-Cycle Holdings Corp. faces moderate threat from substitutes due to the presence of established players in the lithium-ion battery recycling industry.

Bargaining Power Of Customers

Li-Cycle Holdings Corp. has a diverse customer base, which reduces the bargaining power of individual customers, giving the company an upper hand in negotiations.

Bargaining Power Of Suppliers

Li-Cycle Holdings Corp. relies on a few key suppliers for raw materials, which gives them some bargaining power, but the company's scale and vertical integration mitigate this risk.

Threat Of New Entrants

The lithium-ion battery recycling industry is attractive, and new entrants are likely to be drawn to the market, posing a significant threat to Li-Cycle Holdings Corp.'s market share.

Intensity Of Rivalry

The lithium-ion battery recycling industry is highly competitive, with several established players competing for market share, which increases the intensity of rivalry for Li-Cycle Holdings Corp.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 43.73%
Debt Cost 3.95%
Equity Weight 56.27%
Equity Cost 11.58%
WACC 8.24%
Leverage 77.71%

11. Quality Control: Li-Cycle Holdings Corp. passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Montrose Environmental Group

A-Score: 3.8/10

Value: 5.3

Growth: 4.0

Quality: 3.1

Yield: 0.0

Momentum: 7.5

Volatility: 2.7

1-Year Total Return ->

Stock-Card
Enviri

A-Score: 3.7/10

Value: 6.9

Growth: 3.4

Quality: 1.1

Yield: 0.0

Momentum: 6.5

Volatility: 4.0

1-Year Total Return ->

Stock-Card
Aqua Metals

A-Score: 3.1/10

Value: 7.4

Growth: 5.0

Quality: 6.2

Yield: 0.0

Momentum: 0.0

Volatility: 0.0

1-Year Total Return ->

Stock-Card
Li-Cycle

A-Score: 3.0/10

Value: 8.9

Growth: 4.3

Quality: 4.9

Yield: 0.0

Momentum: 0.0

Volatility: 0.0

1-Year Total Return ->

Stock-Card
Perma-Fix Environmental Services

A-Score: 2.7/10

Value: 6.8

Growth: 0.4

Quality: 5.4

Yield: 0.0

Momentum: 1.0

Volatility: 2.3

1-Year Total Return ->

Stock-Card
LanzaTech

A-Score: 2.6/10

Value: 8.0

Growth: 3.6

Quality: 3.8

Yield: 0.0

Momentum: 0.0

Volatility: 0.0

1-Year Total Return ->

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

0.84$

Current Price

0.84$

Potential

-0.00%

Expected Cash-Flows