BCAL Diagnostics Limited (AU:BDX)
ASX:BDX
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BCAL Diagnostics Limited
(Sydney:BDX)
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Rating:40Underperform
Price Target:
AU$0.08
▼(-23.00% Downside)
Action:Downgraded
Date:05/12/26
The score is weighed down primarily by very weak financial performance (sharp revenue decline, large losses, and negative cash generation). Technical indicators add further pressure with bearish trend signals despite oversold readings, while valuation is constrained by a negative P/E and lack of dividend support.
Positive Factors
Manageable leverage and equity buffer
A debt-to-equity of 0.38 and a 62.77% equity ratio indicate moderate leverage and a meaningful equity cushion. For a development-stage diagnostics business, this reduces near-term insolvency risk and provides balance sheet flexibility to fund R&D and regulatory steps over the next several months without immediate refinancing pressure.
Negative Factors
Sharp revenue collapse
A near-total revenue collapse undermines commercial traction and market validation. Losing almost all revenue dramatically reduces ability to invest in sales, clinical studies, and regulatory work, increases reliance on external funding, and impairs the firm’s capacity to scale tests or retain clinical partnerships over months.
Read all positive and negative factors
Positive Factors
Negative Factors
Manageable leverage and equity buffer
A debt-to-equity of 0.38 and a 62.77% equity ratio indicate moderate leverage and a meaningful equity cushion. For a development-stage diagnostics business, this reduces near-term insolvency risk and provides balance sheet flexibility to fund R&D and regulatory steps over the next several months without immediate refinancing pressure.
Read all positive factors
BCAL Diagnostics Limited (BDX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$27.28M
Dividend YieldN/A
Average Volume (3M)421.90K
Price to Earnings (P/E)―
Beta (1Y)0.62
Revenue GrowthN/A
EPS Growth26.04%
CountryAU
EmployeesN/A
SectorHealthcare
Sector Strength45
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)-0.02
Shares Outstanding368,683,300
10 Day Avg. Volume534,308
30 Day Avg. Volume421,904
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)3.64
Price to Sales (P/S)1047.06
P/FCF Ratio-3.27
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
BCAL Diagnostics Limited Business Overview & Revenue Model
Company Description
BCAL Diagnostics Limited, a biotechnology company, engages in developing a non-invasive laboratory blood test for the detection of breast cancer. It develops BCAL test, a lipid biomarker blood test with the potential to be used for breast cancer p...
How the Company Makes Money
null...
BCAL Diagnostics Limited Financial Statement Overview
Summary
Income Statement
20
Very Negative
Balance Sheet
40
Negative
Cash Flow
30
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.31M | 21.64K | 3.10M | 2.79M | 718.67K | 275.25K |
| Gross Profit | 915.90K | 21.64K | 3.10M | 2.79M | 698.06K | 275.25K |
| EBITDA | -7.74M | -6.19M | -5.67M | -7.72M | -4.06M | -1.80M |
| Net Income | -7.16M | -7.24M | -6.40M | -5.06M | -3.39M | -1.52M |
Balance Sheet | ||||||
| Total Assets | 7.17M | 9.91M | 12.27M | 8.37M | 10.59M | 4.13M |
| Cash, Cash Equivalents and Short-Term Investments | 3.33M | 4.52M | 6.47M | 3.17M | 9.57M | 3.41M |
| Total Debt | 3.78M | 2.38M | 1.52M | 1.06M | 0.00 | 0.00 |
| Total Liabilities | 4.68M | 3.69M | 3.68M | 3.16M | 950.42K | 525.60K |
| Stockholders Equity | 2.50M | 6.22M | 8.59M | 5.21M | 9.64M | 3.61M |
Cash Flow | ||||||
| Free Cash Flow | -6.46M | -6.92M | -5.67M | -6.41M | -7.25M | -1.21M |
| Operating Cash Flow | -5.96M | -6.14M | -4.52M | -6.05M | -3.22M | -1.21M |
| Investing Cash Flow | -196.42K | -787.67K | -1.15M | 3.64M | -4.03M | -3.85K |
| Financing Cash Flow | 2.48M | 4.97M | 8.97M | 13.24K | 9.41M | 4.20M |
BCAL Diagnostics Limited Technical Analysis
Neutral
0.10
Price Trends
0.09
Negative
0.10
Negative
0.09
Negative
Market Momentum
>-0.01
Negative
48.10
Neutral
10.97
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BDX, the sentiment is Neutral. The current price of 0.1 is above the 20-day moving average (MA) of 0.08, above the 50-day MA of 0.09, and above the 200-day MA of 0.09, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 48.10 is Neutral, neither overbought nor oversold. The STOCH value of 10.97 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:BDX.
BCAL Diagnostics Limited Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | AU$116.15M | -7.39 | -164.12% | ― | -14.85% | -41.04% | |
44 Neutral | AU$7.36M | -1.61 | 142.99% | ― | -100.00% | 68.62% | |
41 Neutral | AU$43.69M | -4.75 | -476.27% | ― | ― | -142.39% | |
40 Underperform | AU$27.28M | -2.45 | -164.22% | ― | ― | 26.04% | |
38 Underperform | AU$45.75M | -3.02 | -37.14% | ― | 4.66% | 12.39% |
* Healthcare Sector Average
AU:BDX
BCAL Diagnostics Limited
0.08
>-0.01
-5.00%
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100.00%
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0.09
300.00%
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0.01
<0.01
8.33%
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-26.14%
BCAL Diagnostics Limited Corporate Events
BCAL taps industry veteran Anne-Louise Arnett to spearhead cancer diagnostics rollout
May 10, 2026
BCAL Diagnostics has appointed seasoned medical technology executive Anne-Louise (Annie) Arnett as chief executive officer from 1 June 2026, tasking her with accelerating the company’s commercial roadmap and international expansion. Arnett, ...
BCAL accelerates national rollout of cancer blood tests and prepares next-gen breast screening launch
Apr 21, 2026
BCAL Diagnostics reported progress on the national rollout of its Avantect pancreatic and ovarian blood tests, now available through Sonic Healthcare and Healius pathology networks, generating $88,000 in third-quarter revenue from 91 tests. A new ...
BCAL seeks Medicare backing for Avantect pancreatic cancer blood test
Mar 31, 2026
BCAL Diagnostics has lodged an application with the Medical Services Advisory Committee seeking Medicare Benefits Schedule reimbursement for its Avantect Pancreatic Cancer Test, aiming to make the blood-based assay more broadly accessible to high-...
BCAL speeds national rollout of Avantect cancer blood tests
Mar 25, 2026
BCAL Diagnostics has expanded national access to its Avantect pancreatic and ovarian early detection blood tests via selected Sonic Healthcare pathology centres in New South Wales, Victoria and Queensland, and through a new agreement with Healius ...
BCAL Director Jayne Shaw Increases Shareholding via On‑Market Purchase
Mar 20, 2026
BCAL Diagnostics has disclosed a change in the interests of director Jayne Shaw, who has increased her holding in the company through an on-market purchase. Shaw acquired 225,000 additional ordinary shares over 19–20 March 2026, paying $21,8...
BCAL Director Jayne Shaw Increases Shareholding Via On-Market Purchase
Mar 19, 2026
BCAL Diagnostics has reported a change in the interests of director Jayne Shaw, who has both direct and indirect holdings in the company’s securities. Through entities she controls and in her own name, Shaw maintains substantial share and op...
BCAL director Jayne Shaw boosts stake with on-market share purchase
Mar 17, 2026
BCAL Diagnostics director Jayne Shaw has increased her shareholding in the company through an on-market purchase of 300,000 ordinary shares on 16 March 2026, paying $29,251 for the stake. The transaction, made via entities she controls, lifts her ...
BCAL Diagnostics Issues New Shares to Service Provider Under Cleansing Notice
Mar 6, 2026
BCAL Diagnostics has issued 615,651 new shares to a service provider at a deemed price of $0.09475 per share under ASX Listing Rule 7.1, expanding its share capital without undertaking a public disclosure document. The company confirmed it is up t...
BCAL Diagnostics Issues Shares to Settle Service Provider Invoice
Mar 6, 2026
BCAL Diagnostics has applied to the ASX for quotation of 615,651 new fully paid ordinary shares issued on March 5, 2026. The shares arise from an agreement with a service provider to settle part of an invoice in equity, indicating the company is u...
BCAL Director Jayne Shaw Increases Shareholding via On-Market Purchase
Feb 20, 2026
BCAL Diagnostics has disclosed a change in the interests of director Jayne Shaw, who increased her holding in the company through an on-market purchase of additional ordinary shares. The transaction, completed on 20 February 2026 for 192,000 share...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.