Catapult Group International (CAT) AI Stock Analysis

• Market Cap: AU$1.00B
• Dividend Yield: N/A
• Average Volume (3M): 3.22M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.60
• Revenue Growth: 19.66%
• EPS Growth: 38.75%
• Country: AU
• Employees: 490
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): -0.02
• Shares Outstanding: 307,101,870
• 10 Day Avg. Volume: 2,141,347
• 30 Day Avg. Volume: 3,216,938
• PEG Ratio: 1.23
• Price to Book (P/B): 6.74
• Price to Sales (P/S): 4.75
• P/FCF Ratio: 64.39
• 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$4.77
• Price Target Upside: 43.33% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): -0.06
• Revenue Forecast (FY): AU$138.30M

• Rating: 51 Neutral
• Price Target: AU$4.00 ▲(20.12% Upside)
• Action: Reiterated Date: 01/30/26
• Date: Action: Reiterated 01/30/26

The score is held back primarily by weak reported financial performance (declining revenue, ongoing losses, and deteriorating free cash flow) and a bearish technical setup with the stock trading below key moving averages. The earnings call provides a meaningful offset, highlighting improving profitability metrics, strong ACV/customer growth, and high retention, but valuation remains challenged due to losses and no stated dividend yield.

Positive Factors

High Customer Retention

Retention above 95% indicates durable recurring revenue and low churn among teams. High retention supports predictable ACV rollforward, improves unit economics over time, and reduces new-sales dependency, enabling sustainable margin improvement as subscription mix grows.

Growing ACV and Customer Scale

19% ACV growth and an expanding 5,000+ team base reflect broad market adoption and scale. Larger installed base increases cross-sell and multicategory penetration, raising lifetime value and structural revenue resilience across sports and geographies.

High Gross Profit Margins

Sustained gross margins >80% suggest a favorable software/hardware mix and pricing power. High gross margins provide room for R&D and go-to-market spend while enabling operating leverage as recurring revenue grows, supporting long-term profitability potential.

Negative Factors

Declining Revenue and Negative Margins

A material revenue decline combined with negative operating and net margins signals structural demand or execution gaps. Persistent top-line pressure complicates margin recovery, limits reinvestment capacity, and raises risk that profitability improvements may be inconsistent.

Weak Free Cash Flow Generation

A >50% drop in FCF growth and negative FCF-to-net-income imply the business is burning cash relative to reported earnings. Weak cash conversion constrains funding for product development, integration of acquisitions, and working capital, increasing reliance on external financing.

Negative Return on Equity

Negative ROE despite conservative leverage highlights an inability to generate shareholder returns from invested capital. This suggests operational inefficiencies or poor capital allocation that could persist, undermining long-term value creation even if revenues stabilize.

Catapult Group International Business Overview & Revenue Model

Company Description

Catapult Sports Ltd. engages in the development and supply of wearable athlete tracking and analytics solutions. The company was founded by Shaun Holthouse and Igor van de Griendt in 2006 and is headquartered in Melbourne, Australia.

How the Company Makes Money

Catapult Group International generates revenue through multiple streams, primarily by selling its advanced wearable technology and software solutions to sports teams and organizations worldwide. The company offers its products through direct sales and subscription models, where clients pay for access to its performance monitoring software and analytics services. Key revenue streams include one-time hardware sales, ongoing software subscriptions, and consultancy services that help teams implement and maximize the use of their technology. Additionally, strategic partnerships with sports organizations and leagues enhance its market presence and drive sales. By continuously innovating and expanding its product offerings, CAT aims to capture a larger share of the growing sports analytics market.

Catapult Group International Financial Statement Overview

Summary

Income statement trends are weak (revenue down -15.26% and negative net/EBIT margins), and cash flow is under pressure (free cash flow growth down -54.16% with negative FCF-to-net-income). The balance sheet is somewhat supportive with relatively low leverage, but negative ROE indicates poor shareholder value generation.

Income Statement

The company has shown a declining revenue trend with a negative revenue growth rate of -15.26% in the latest year. Gross profit margin remains strong at over 80%, indicating efficient cost management. However, the net profit margin is negative, reflecting ongoing losses, and EBIT margin is also negative, suggesting operational inefficiencies.

Balance Sheet

The balance sheet shows a relatively low debt-to-equity ratio, indicating conservative leverage. However, the return on equity is negative, highlighting challenges in generating returns for shareholders. The equity ratio is not provided, but the overall financial stability appears moderate.

Cash Flow

The cash flow statement reveals a significant decline in free cash flow growth, down by 54.16%. The operating cash flow to net income ratio is not provided, but the free cash flow to net income ratio is negative, indicating cash flow challenges relative to earnings.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	163.38M	116.53M	100.00M	84.36M	77.01M	87.84M
Gross Profit	36.87M	94.36M	81.14M	63.83M	57.41M	15.99M
EBITDA	33.13M	17.62M	11.24M	-9.98M	-14.85M	-7.98M
Net Income	-15.56M	-8.75M	-16.68M	-31.48M	-32.19M	-15.45M
Balance Sheet
Total Assets	218.31M	165.89M	163.95M	163.77M	171.40M	122.12M
Cash, Cash Equivalents and Short-Term Investments	11.24M	10.76M	11.54M	16.30M	26.17M	22.22M
Total Debt	15.50M	9.80M	18.35M	24.16M	7.38M	6.27M
Total Liabilities	109.22M	83.97M	85.91M	77.31M	61.55M	45.02M
Stockholders Equity	109.09M	82.16M	78.22M	86.61M	109.99M	77.14M
Cash Flow
Free Cash Flow	37.94M	8.60M	18.39M	-56.73M	-1.97M	21.97M
Operating Cash Flow	54.58M	38.45M	31.70M	3.73M	2.67M	25.02M
Investing Cash Flow	-46.14M	-29.85M	-27.05M	-25.28M	-39.85M	-14.03M
Financing Cash Flow	-6.71M	-9.33M	-8.61M	13.19M	41.54M	-5.02M

Catapult Group International Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.33
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CAT, the sentiment is Negative. The current price of 3.33 is below the 20-day moving average (MA) of 3.49, below the 50-day MA of 3.60, and below the 200-day MA of 5.38, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 45.60 is Neutral, neither overbought nor oversold. The STOCH value of 23.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:CAT.

Catapult Group International Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MYG	70 Outperform	AU$230.54M	17.02	19.64%	1.10%	37.80%	28.88%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
CCR	61 Neutral	AU$112.19M	-40.64	5.74%	―	11.72%	―
CAT	51 Neutral	AU$1.00B	-22.72	-10.48%	―	19.66%	38.75%
DVL	44 Neutral	AU$33.88M	-2.36	-102.57%	―	-13.40%	4.76%
ZMM	44 Neutral	AU$4.16M	-0.88	-152.47%	―	-74.76%	42.11%
HYD	39 Underperform	AU$3.00M	-0.35	61.09%	―	-4.86%	64.36%

Catapult Group International Corporate Events

Catapult Sports Dropped From S&P/ASX 200 in March Index Rebalance

S&P Dow Jones Indices has announced its March 2026 quarterly rebalance of the S&P/ASX indices, with changes effective before trading opens on March 23, 2026. The reshuffle sees movements across the S&P/ASX 20, 50, 100, 200, and 300, including notable additions in gold and resources companies as well as technology and gaming-related names, while several investment, infrastructure, and healthcare stocks are removed.

For investors in Catapult Group International, the key development is that Catapult Sports Limited will be removed from the S&P/ASX 200 index at the rebalance. Losing a place in the benchmark 200 index can reduce index-fund demand and visibility for the stock, potentially affecting liquidity and its profile among institutional investors, even as other companies gain prominence through newly added index positions.

The most recent analyst rating on (AU:CAT) stock is a Buy with a A$4.85 price target. To see the full list of analyst forecasts on Catapult Group International stock, see the AU:CAT Stock Forecast page.

Catapult Sports Issues Over 2.1 Million New Shares on Option Conversion

Catapult Sports Ltd has issued 2,185,098 new fully paid ordinary shares following the exercise or conversion of previously unquoted options or other convertible securities, with the new shares dated 22 January 2026. The move modestly enlarges the company’s share base and reflects the crystallisation of earlier equity-based instruments, which may signal confidence among holders in the company’s prospects while incrementally diluting existing shareholders’ stakes.

The most recent analyst rating on (AU:CAT) stock is a Hold with a A$4.00 price target. To see the full list of analyst forecasts on Catapult Group International stock, see the AU:CAT Stock Forecast page.

Catapult Director Rebalances Equity Holding Through Option Exercise and Share Sale

Catapult Sports has disclosed a change in the interests of director Mr Willians Lopes, who has exercised 2,185,098 TIP options to acquire fully paid ordinary shares and subsequently sold a portion of these shares on market. Following the transaction, Lopes no longer holds the TIP options directly and now retains an increased indirect holding of 2,452,833 fully paid ordinary shares through the Catapult Sports Employee Share Plan Trust, while maintaining his existing long-term incentive performance rights, signaling a rebalancing of his equity exposure between options and ordinary shares.

The most recent analyst rating on (AU:CAT) stock is a Hold with a A$4.00 price target. To see the full list of analyst forecasts on Catapult Group International stock, see the AU:CAT Stock Forecast page.

Catapult CEO Sells Shares to Fund Option Exercise, Affirms Commitment

Catapult Sports has disclosed that CEO and Managing Director Will Lopes sold 1.3 million company shares on 22 January 2026 to fund the exercise costs of 2.2 million share options granted in 2023 and approaching expiry in May 2026, as well as to meet associated U.S. tax liabilities. The company emphasized that Lopes has historically only sold shares to cover tax obligations under Catapult’s equity incentive plan, that this is his first sale to finance option exercise, and that he remains a significant shareholder committed to leading the business, a message aimed at reassuring investors about leadership stability and ongoing alignment with shareholder interests.

The most recent analyst rating on (AU:CAT) stock is a Hold with a A$4.00 price target. To see the full list of analyst forecasts on Catapult Group International stock, see the AU:CAT Stock Forecast page.

Catapult Sports Issues 546,275 New Shares on Conversion of Unquoted Securities

Catapult Sports Ltd has issued 546,275 new fully paid ordinary shares following the exercise or conversion of previously unquoted options or other convertible securities, with the new shares dated 14 January 2026. The move modestly increases the company’s share capital base and reflects the take-up of existing equity incentives, which may indicate confidence among holders in the company’s future prospects and can have minor implications for existing shareholders through incremental dilution.

The most recent analyst rating on (AU:CAT) stock is a Hold with a A$4.00 price target. To see the full list of analyst forecasts on Catapult Group International stock, see the AU:CAT Stock Forecast page.

Catapult to Release 463,334 Escrowed Shares Linked to SBG Acquisition

Catapult Sports Ltd will release 463,334 fully paid ordinary shares from voluntary escrow on 5 January 2026, relating to the final earn-out tranche issued to the vendors of SBG Sports Software Limited under its acquisition agreement. The move marks the completion of this component of the SBG acquisition consideration structure and slightly increases the effective free float of Catapult shares, potentially enhancing liquidity for investors while signaling the progression of post-acquisition integration milestones.

The most recent analyst rating on (AU:CAT) stock is a Buy with a A$6.25 price target. To see the full list of analyst forecasts on Catapult Group International stock, see the AU:CAT Stock Forecast page.

Catapult Sports Issues 946,304 New Shares on Conversion of Unquoted Securities

Catapult Sports Ltd has notified the market of the issue of 946,304 new fully paid ordinary shares following the conversion or exercise of previously unquoted securities. The new shares, dated 10 July 2025, reflect the crystallisation of existing equity arrangements rather than a fresh capital raise, modestly increasing the company’s share base and potentially signalling the vesting of management or employee incentives that align internal stakeholders with future company performance.

The most recent analyst rating on (AU:CAT) stock is a Buy with a A$6.25 price target. To see the full list of analyst forecasts on Catapult Group International stock, see the AU:CAT Stock Forecast page.

Catapult Sports Issues New Performance Rights Under Employee Incentive Scheme

Catapult Sports Ltd has notified the market of the issue of 129,541 unquoted performance rights under its employee incentive scheme, with an effective issue date of 1 October 2025. The additional equity-based awards, which are not intended to be quoted on the ASX, highlight the company’s ongoing use of long-term incentive structures to retain and motivate key staff, aligning employee interests with shareholders and potentially influencing future dilution and capital structure considerations.

The most recent analyst rating on (AU:CAT) stock is a Buy with a A$6.25 price target. To see the full list of analyst forecasts on Catapult Group International stock, see the AU:CAT Stock Forecast page.