The holidays are over for most of us, so it’s time for the next Hydrogen-company. I really didn’t have any prior knowledge about the set I chose, so the 3D-graph is a bit of a surprise to me as well.
After including Ballard in the 3D-graph and looking at the result, my first thought was “Is Hydrogen contagious?” NEL ASA and Power Cell Sweden looked a bit odd. That’s why I added an additional 3D-graph of automotive companies: to provide some reference about what a “normal” company would look like. Normal is a bit dangerous, because we already noticed that the tech giants are a bit different from the oil majors and looking at Boeing and Airbus things were very different from the automotive companies. Banks and insurance companies have their own pattern, so what would be normal? Well, profit is a way to build up more equity (unless it is all given to the shareholders of course). Sometimes losses can happen, but most companies will try and get back to profit as soon as possible. However, for this third Hydrogen-company the pattern is different – more like the other two. By the way, it is a Canadian company, reporting in USD, which I had to convert to EUR – the standard for this series.
Remember: clicking the right mouse-button, moving the mouse up and down will zoom the graph in and out. Clicking left and moving the mouse will tilt the graph in different directions (or move the observer’s viewpoint around a fixed graph – it’s relative of course). Double clicking in the graph translates it and moves the centre at the same time. As a result the way the graph tilts will change. Just try it. If you don’t know how to get the normal position back, just refresh the graph.
The legend is hovering in from of the graph and tells us that the height of the individual buildings is determined by revenue, with the coloured roof either profit (green) or loss (red). The width represents equity and the depth is “total assets”.
Of course it’s not because these companies infected each other that their “buildings” look similar. They are just in the same – innovative- market. The pattern reminds me of the good (or bad) old days of the dotcom bubble. Investors would bring in money and all that mattered was the burn rate! Now the same must be happening here, because the combination of huge losses and an increase of equity can only mean one thing: money is coming in from shareholders. And that’s because we (I invested a little bit in NEL ASA and Powercell Sweden myself) all hope that one of these innovators will be the Google, Apple or Facebook of Hydrogen. Which one? If we only knew!
The million dollar question is whether the others in the series will show the same ratios. Of course you can find out before I do by creating the 3D-graph yourself. The 3D-graph generator can be downloaded for free, even without registration (Java .jar executable). The package comes with a comprehensive manual and some examples. A white paper with a 3-D graph package is available at the Charles Warter website and short movies about the properties and the use of the 3D-graph generator are available at our YouTube-channel!