Alpha HPA Limited (A4N) AI Stock Analysis

• Market Cap: AU$852.95M
• Dividend Yield: N/A
• Average Volume (3M): 960.39K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.60
• Revenue Growth: 620.73%
• EPS Growth: -21.19%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.01
• Shares Outstanding: 1,137,271,700
• 10 Day Avg. Volume: 943,881
• 30 Day Avg. Volume: 960,392
• PEG Ratio: -5.05
• Price to Book (P/B): 4.44
• Price to Sales (P/S): 3058.02
• P/FCF Ratio: -9.12
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: AU$2.00
• Price Target Upside: 170.27% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: AU$1.00 ▲(35.14% Upside)

Alpha HPA Limited's stock score is primarily impacted by its financial performance, which shows strong revenue growth but significant profitability and cash flow challenges. Technical analysis indicates a bearish trend with weak momentum, and valuation metrics are unattractive due to ongoing losses. The absence of earnings call data and corporate events does not influence the score.

Positive Factors

Revenue Growth

The substantial revenue growth indicates strong demand for Alpha HPA's products, suggesting successful market penetration and potential for future expansion.

Low Leverage

A low leverage position provides financial flexibility and reduces risk, allowing the company to invest in growth opportunities without significant debt burden.

Free Cash Flow Growth

Strong free cash flow growth suggests improving cash generation efficiency, which can support reinvestment in the business and enhance financial stability.

Negative Factors

Profitability Challenges

Negative profit margins indicate operational inefficiencies and the need for cost management improvements to achieve sustainable profitability.

Negative Operating Cash Flow

Negative operating cash flow suggests the company struggles to generate sufficient cash from operations, potentially impacting its ability to fund growth and operations.

Negative Return on Equity

A negative return on equity indicates that the company is not effectively using shareholder investments to generate profits, highlighting potential issues in business strategy or execution.

Alpha HPA Limited Business Overview & Revenue Model

Company Description

Alpha HPA Limited engages in the evaluation, exploration, and development of mineral properties. It primarily explores for high purity alumina (HPA) deposits. The company holds interest in the HPA First project located in Gladstone, Queensland. It also offers HPA and related products for use in the lithium-ion battery and light emitting diode lighting markets. The company was formerly known as Collerina Cobalt Limited and changed its name to Alpha HPA Limited in November 2018. Alpha HPA Limited was incorporated in 2003 and is headquartered in Sydney, Australia.

How the Company Makes Money

Alpha HPA Limited generates revenue primarily through the sale of high-purity alumina produced from its proprietary processing techniques. The company targets various industries, including electronics, automotive, and renewable energy, where HPA is in high demand. Key revenue streams include direct sales to manufacturers, long-term supply contracts, and potentially strategic partnerships with companies in related sectors. Additionally, as the demand for clean energy technologies grows, A4N stands to benefit from increased production and sales of HPA, driven by its competitive processing capabilities and market positioning.

Alpha HPA Limited Financial Statement Overview

Summary

Alpha HPA Limited is experiencing rapid revenue growth, yet it struggles with profitability and cash flow management. The company maintains a low leverage position, which is a positive aspect, but the negative returns on equity and persistent losses highlight significant operational challenges.

Income Statement

Alpha HPA Limited has shown significant revenue growth, with a 253.34% increase in the latest year. However, the company is facing substantial profitability challenges, as indicated by negative margins across the board. The net profit margin is particularly concerning at -102.53%, reflecting ongoing losses. The EBIT and EBITDA margins also highlight operational inefficiencies.

Balance Sheet

The company's balance sheet shows a low debt-to-equity ratio of 0.02, indicating minimal leverage and a conservative capital structure. However, the return on equity is negative at -14.87%, suggesting that the company is not generating sufficient returns on shareholder investments. The equity ratio is relatively healthy, showing a strong equity base compared to total assets.

Cash Flow

Cash flow analysis reveals a mixed picture. While there is a significant free cash flow growth rate of 51.28%, the operating cash flow remains negative, indicating cash flow challenges. The free cash flow to net income ratio is positive, suggesting some efficiency in converting net income to cash, but the overall cash flow position remains weak.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	317.52K	317.52K	44.05K	16.15K	38.74K	0.00
Gross Profit	-8.32M	-3.01M	-8.98M	-983.56K	-141.27K	-47.19K
EBITDA	-38.01M	-28.91M	-22.80M	-16.26M	-14.23M	-17.12M
Net Income	-32.56M	-32.56M	-24.98M	-15.68M	-7.36M	-16.27M
Balance Sheet
Total Assets	283.37M	283.37M	267.30M	67.11M	54.56M	51.97M
Cash, Cash Equivalents and Short-Term Investments	102.04M	102.04M	189.62M	20.59M	16.83M	50.34M
Total Debt	4.42M	4.42M	3.69M	338.81K	537.59K	56.61K
Total Liabilities	64.50M	64.50M	20.12M	11.10M	7.69M	1.69M
Stockholders Equity	218.88M	218.88M	247.17M	56.02M	46.87M	50.28M
Cash Flow
Free Cash Flow	-103.78M	-106.48M	-47.75M	-35.50M	-34.95M	-8.36M
Operating Cash Flow	-18.24M	-18.24M	-22.42M	-11.29M	-3.76M	-1.63M
Investing Cash Flow	-69.39M	-69.39M	-25.13M	-8.00M	-31.14M	-6.71M
Financing Cash Flow	-367.52K	-367.52K	216.58M	23.07M	1.39M	50.80M

Alpha HPA Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.74
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:A4N, the sentiment is Negative. The current price of 0.74 is below the 20-day moving average (MA) of 0.75, below the 50-day MA of 0.77, and below the 200-day MA of 0.85, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 46.73 is Neutral, neither overbought nor oversold. The STOCH value of 19.17 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:A4N.

Alpha HPA Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AIS	69 Neutral	AU$451.71M	9.96	15.33%	―	6.70%	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
MMI	51 Neutral	AU$464.42M	3.44	145.87%	―	45.56%	―
LOT	48 Neutral	AU$489.09M	-27.27	-7.50%	―	―	51.47%
A4N	45 Neutral	AU$852.95M	-26.22	-13.97%	―	620.73%	-21.19%
IPX	38 Underperform	AU$2.11B	-34.02	-50.19%	―	―	-20.85%
CAY	26 Underperform	AU$345.91M	-12.68	-45.39%	―	―	-91.89%

Alpha HPA Limited Corporate Events

Alpha HPA Updates Director’s Interest Post-AGM

Alpha HPA Limited announced a change in director’s interest notices following the approval and partial vesting of Performance Rights at its recent Annual General Meeting. This update reflects the company’s ongoing governance and incentive strategies, potentially impacting shareholder perceptions and director alignment with company performance.

Alpha HPA Limited Announces Quotation of New Securities on ASX

Alpha HPA Limited has announced the quotation of 371,172 ordinary fully paid securities on the Australian Securities Exchange (ASX) under the code A4N. This move reflects the company’s strategic efforts to enhance its market presence and operational capacity, potentially impacting its industry positioning by increasing its available capital and shareholder base.

Alpha HPA Issues Unquoted Equity Securities as Employee Incentives

Alpha HPA Limited has announced the issuance of unquoted equity securities in the form of performance rights, with a total of 2,034,557 securities issued. This move is part of an employee incentive scheme, highlighting the company’s commitment to aligning employee interests with corporate goals. The issuance of these securities is expected to strengthen Alpha HPA’s operational framework and enhance its competitive positioning in the advanced materials sector.

Alpha HPA Limited Secures Shareholder Support at AGM

Alpha HPA Limited announced that all resolutions proposed at its Annual General Meeting were passed successfully, indicating strong shareholder support for the company’s strategic direction and governance. This outcome reinforces the company’s stability and commitment to its stakeholders, potentially enhancing its market position and operational confidence.

Alpha HPA Limited Evaluates HPA First Project Feasibility Amid Funding Uncertainties

Alpha HPA Limited has conducted a Definitive Feasibility Study (DFS) to evaluate the HPA First project’s technical and financial feasibility. The study indicates that additional funding is required to achieve the desired outcomes, and there is uncertainty about securing this funding. The company may consider alternative strategies such as a sale or joint venture, which could affect its ownership stake in the project.

Alpha HPA Limited Issues 20 Million Unquoted Options

Alpha HPA Limited announced the issuance of 20 million unquoted options set to expire on October 31, 2029, with an exercise price of $1.00. This move is part of previously announced transactions and reflects the company’s strategic efforts to enhance its financial flexibility and support its long-term growth initiatives.

Alpha HPA Advances Major Projects Amid Rising Semiconductor Demand

Alpha HPA Limited has made significant progress in its HPA First Project, particularly in Stage 2, which is set to become the world’s largest facility for high purity aluminium materials. The company is seeing strong demand from the semiconductor sector, driven by its unique ability to deliver products with zero uranium/thorium content. With ongoing construction and new contracts in negotiation, Alpha HPA is well-positioned to meet future demand and expand its market presence.

Alpha HPA Limited Announces Proposed Issue of 20 Million New Securities

Alpha HPA Limited has announced a proposed issue of 20 million new securities, specifically options expiring on October 31, 2029, with an exercise price of $1.00. This move is part of the company’s strategic efforts to raise capital, potentially enhancing its market position and supporting its growth initiatives in the advanced materials sector.

Alpha HPA Releases 2025 Annual Report and Announces AGM

Alpha HPA Limited has released its Annual Report for the fiscal year ending June 30, 2025, and announced its upcoming Annual General Meeting scheduled for November 24, 2025. This announcement provides stakeholders with insights into the company’s financial performance and strategic direction, reinforcing its commitment to transparency and shareholder engagement.