Li-Cycle Holdings (LICYQ) fair value: what the stock is really worth
As of Sep 18, 2026: fair value of Li-Cycle Holdings $0.07, price $0.09, upside -26.2%, quality 20 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $0.0001 – $112.32 · fair‑value band $0.0530 – $0.1013 · the $0.0940 price screens above the $0.0694 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Li-Cycle Holdings Corp. operates as a lithium-ion battery resource recovery company in North America.
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Li-Cycle Holdings Corp. operates as a lithium-ion battery resource recovery company in North America. The company processes battery manufacturing scrap and end-of-life batteries to produce black mass, a powder-like substance, which contains lithium, nickel and cobalt, and other intermediate products; and critical battery-grade materials for the lithium-ion battery supply chain, including lithium carbonate, as well as black mass and products analogous to black mass that have a similar metal content and shredded copper and aluminum material. It also offers services for recycling lithium-ion batteries, which include coordination of logistics and destruction of batteries. The company serves consumer electronics, electric vehicles, and battery energy storage systems industries. Li-Cycle Holdings Corp. was founded in 2016 and is headquartered in Toronto, Canada. As of August 7, 2025, Li-Cycle Holdings Corp. operates as a subsidiary of Glencore Canada Corporation.
Stock analysis
Li-Cycle Holdings (LICYQ) currently trades at $0.0940, while our model-based Fair Value estimate is $0.0694, implying the stock looks roughly 35.4% overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 87/100, which puts the evidence level at low.
Scenario range: $0.0530 (bear) to $0.1013 (bull), the price of $0.0940 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 20/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Li-Cycle Holdings reported revenue of $28.0M in FY2024 versus $7.3M in FY2021, a compound +56.5%/yr. Reported net income was −$138M in FY2024.
Key figures
Market cap $4.2M · EPS (TTM) $−5.86 · Return on assets (EBIT) −12.6% · Free cash flow −$130M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 22 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high.
For context, the median of 10 Industrials peers we cover trades at −18% fair-value upside, at −26%, LICYQ screens richer than that median.
Fair Value models
Bear $0.0530Fair Value $0.0694Bull $0.1013
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.30/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+53.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+56.5%
’21
’22
’23
’24
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−439.7% (2021) → −448.2% (2024)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2024 is a loss year, no rate is defined from a loss
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Waste Management · 168 stocks
Beats the industry median on 2/6 measures
Overall it trails its industry peers.
Valuation
Quality Score21 · Bottom 25%
Fair Value upside−26% · Below median
Profitability
Return on assets−9% · Bottom 25%
Growth and dividend
Revenue growth9% · Above median
Balance sheet
Debt / equity1.38× · Highest 25%
Valuation Multiplesvs Waste Management median · lower = cheaper
P/S (TTM)0.15× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 21
FUTURE (revenue growth)47· sector 20
PAST (return on equity)0· sector 26
HEALTH (low debt)31· sector 80
DIVIDEND (yield)0· sector 44
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Li-Cycle Holdings Fair Value". https://www.fairvalue-calculator.com/stock/LICYQ
Frequently asked questions
Is Li-Cycle Holdings (LICYQ) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $0.0694 versus a price of $0.0940, about −26% upside (overvalued).
What is the fair value of LICYQ?
Our model-based fair value for Li-Cycle Holdings is $0.0694 (as of Sep 24, 2026), built from audited fundamentals. The current price: $0.0940.
What is the quality score of LICYQ?
Li-Cycle Holdings has a Quality Score of 20/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Li-Cycle Holdings (LICYQ)?
Our model-based price target is the fair value of $0.0694 (as of Sep 24, 2026) from 1 valuation models. Cautious scenario $0.0530, optimistic scenario $0.1013. It is a calculation from audited fundamentals, not an analyst target.
What is the Li-Cycle Holdings stock forecast for 2026?
Our models put fair value at $0.0694, about −26% upside versus a price of $0.0940 (overvalued). Cautious scenario $0.0530, optimistic scenario $0.1013. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Li-Cycle Holdings (LICYQ)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Li-Cycle Holdings it is $0.0694 per share (as of Sep 24, 2026), against a price of $0.0940. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Li-Cycle Holdings stock overvalued or undervalued in 2026?
As of Sep 24, 2026, LICYQ trades above its calculated fair value: price $0.0940, fair value $0.0694, a gap of about −26% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of LICYQ?
No. The price is what the market pays today ($0.0940); the fair value is what the company's own numbers justify ($0.0694). For Li-Cycle Holdings the two are $0.0246 per share apart. That gap is exactly why we show both numbers side by side.
How much is Li-Cycle Holdings worth?
The market values Li-Cycle Holdings at about $4.2M (market capitalisation, as of Sep 24, 2026). Per share that is $0.0940; our models calculate a fair value of $0.0694 per share.
What do the bullish and bearish scenarios say about LICYQ?
Our models span a range for Li-Cycle Holdings: cautious scenario $0.0530, base $0.0694, optimistic $0.1013 per share (as of Sep 24, 2026, price $0.0940). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Li-Cycle Holdings (LICYQ)?
Balance-sheet figures for Li-Cycle Holdings (as of Sep 24, 2026): return on equity −43.1%, debt of 1.38 per unit of equity. They feed the Quality Score of 20/100, which measures business quality independently of the share price.
Which stocks are comparable to Li-Cycle Holdings?
From the same area (Industrials) we also value Waste Management, Inc, Republic Services, Inc, Waste Connections, Inc, Veolia Environnement SA, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Li-Cycle Holdings stock attractive at the current price?
The data as of Sep 24, 2026: price $0.0940, calculated fair value $0.0694 (−26%), Quality Score 20/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of LICYQ calculated?
We run Li-Cycle Holdings through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $0.0694, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Li-Cycle Holdings itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Li-Cycle Holdings (LICYQ)?
The closing price on Sep 18, 2026 was $0.0940. Our model-based fair value is $0.0694, about −26% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Li-Cycle Holdings right now?
Weak quality (20/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range ($0.0530 to $0.1013) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Li-Cycle Holdings
How large is the market capitalisation of Li-Cycle Holdings (LICYQ)?
The market capitalisation of Li-Cycle Holdings is $4.2M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Li-Cycle Holdings (LICYQ)?
Earnings per share at Li-Cycle Holdings are $−5.86. Earnings per share over the last twelve months: total profit spread across every single share.
What is the EBIT return on assets of Li-Cycle Holdings (LICYQ)?
On an EBIT basis the return on assets of Li-Cycle Holdings is −12.6% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
How much free cash flow does Li-Cycle Holdings (LICYQ) generate?
The free cash flow of Li-Cycle Holdings is −$130M (fiscal year 2024). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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Thin data
Sep 24, 2026