Change Financial Ltd (CCA) AI Stock Analysis

• Market Cap: AU$59.38M
• Dividend Yield: N/A
• Average Volume (3M): 269.70K
• Price to Earnings (P/E): 107.5
• Beta (1Y): 0.60
• Revenue Growth: 43.85%
• EPS Growth: 29.03%
• Country: AU
• Employees: 79
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): <0.01
• Shares Outstanding: 690,453,000
• 10 Day Avg. Volume: 80,247
• 30 Day Avg. Volume: 269,698
• PEG Ratio: 0.46
• Price to Book (P/B): 8.73
• Price to Sales (P/S): 4.06
• P/FCF Ratio: 81.61
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): <0.01
• Revenue Forecast (FY): AU$18.25M

• Rating: 54 Neutral
• Price Target: AU$0.08 ▲(17.14% Upside)
• Action: Upgraded Date: 01/28/26
• Date: Action: Upgraded 01/28/26

The score is primarily held back by weak financial performance, with ongoing losses and pressured margins despite revenue growth and improved free cash flow. Technicals are a positive offset, as the stock trades above key moving averages with supportive momentum indicators. Valuation is also a constraint due to the negative P/E and lack of dividend yield data.

Positive Factors

Recurring transaction-fee business model

A transaction-fee and premium services model creates recurring, volume-linked revenue that scales with customer activity. Strategic partnerships with banks and fintechs extend distribution, enable cross-sell and lower customer acquisition costs, supporting durable revenue growth.

Conservative capital structure

Very low leverage preserves financial flexibility, reduces liquidity and refinancing risk, and allows management to invest in product development or absorb operating losses without immediate solvency pressure—important while profitability is being restored.

Improving free cash flow

Stronger free cash flow signals improving cash conversion and a reduced need for external funding. If sustained, this enhances the company's ability to self-fund strategic initiatives, partnerships and technology investment, supporting long-term operational resilience.

Negative Factors

Negative profitability and margin pressure

Persistent negative margins and a declining gross margin indicate structural cost or pricing pressure. Until margins recover, the business will struggle to convert revenue growth into sustainable profits, constraining reinvestment and long-term shareholder returns.

Negative return on equity

Negative ROE shows shareholder capital is not generating positive returns, undermining investor confidence and making capital raising harder or more dilutive. Improving operational profitability is required to restore ROE and long-term capital efficiency.

Weak operating cash generation

Low operating cash conversion suggests reported earnings (or improvements) are not fully translating into sustainable operational cash. This raises dependence on financing or one-time items and poses a risk to funding ongoing growth and product investment over the medium term.

Change Financial Ltd Business Overview & Revenue Model

Company Description

Change Financial Ltd (CCA) is a financial technology company specializing in providing innovative payment solutions and banking services. The company operates primarily in the fintech sector, offering a range of products that include digital banking services, payment processing, and financial management tools. CCA aims to enhance the customer experience by leveraging technology to provide seamless and efficient financial transactions for both consumers and businesses.

How the Company Makes Money

Change Financial Ltd generates revenue primarily through transaction fees associated with its payment processing services. Every time a transaction is processed through its platform, CCA earns a percentage of the transaction amount. Additionally, the company offers premium services to businesses, such as customized payment solutions and analytics tools, which contribute to its revenue streams. Partnerships with financial institutions and other fintech companies also play a crucial role in expanding its market reach and driving revenue growth. The company may also explore subscription models for certain services, providing a steady income stream from clients seeking ongoing access to its advanced financial solutions.

Change Financial Ltd Financial Statement Overview

Summary

Revenue grew 12.43% and free cash flow improved, supported by low leverage (debt-to-equity 0.06). Offsetting this, profitability remains weak with negative net profit/EBIT margins and negative return on equity, and gross margin declined year over year.

Income Statement

Change Financial Ltd has shown a positive revenue growth rate of 12.43% in the latest year, indicating a growing business. However, the company is struggling with profitability, as evidenced by negative net profit and EBIT margins. The gross profit margin has decreased from the previous year, suggesting increased cost pressures.

Balance Sheet

The company maintains a low debt-to-equity ratio of 0.06, indicating conservative leverage and financial stability. However, the negative return on equity highlights ongoing profitability challenges. The equity ratio is strong, suggesting a solid capital structure.

Cash Flow

There is a significant improvement in free cash flow growth, which is a positive sign for liquidity. The operating cash flow to net income ratio is low, indicating that cash generation from operations is not yet robust. However, the free cash flow to net income ratio is close to 1, suggesting efficient cash management relative to net losses.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	13.36M	15.02M	10.51M	8.71M	8.32M	6.31M
Gross Profit	3.28M	4.09M	3.89M	2.42M	695.31K	564.95K
EBITDA	-2.14M	-785.36K	-621.17K	-1.26M	-2.53M	-2.31M
Net Income	-2.77M	-1.94M	-2.57M	-2.92M	-3.77M	-3.48M
Balance Sheet
Total Assets	15.96M	18.03M	12.94M	15.30M	10.35M	12.72M
Cash, Cash Equivalents and Short-Term Investments	3.49M	3.91M	2.59M	5.35M	1.50M	4.02M
Total Debt	293.26K	424.06K	156.93K	136.25K	1.29M	561.76K
Total Liabilities	8.98M	11.04M	7.07M	6.86M	7.00M	5.70M
Stockholders Equity	6.98M	6.99M	5.88M	8.44M	3.34M	7.02M
Cash Flow
Free Cash Flow	229.74K	747.41K	-2.39M	-3.12M	-4.08M	-3.02M
Operating Cash Flow	294.78K	795.05K	-464.97K	-1.59M	-2.64M	-2.32M
Investing Cash Flow	-2.15M	-2.05M	-2.09M	-1.80M	-1.26M	-5.17M
Financing Cash Flow	2.78M	2.76M	-102.15K	6.89M	710.79K	7.56M

Change Financial Ltd Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.07
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CCA, the sentiment is Positive. The current price of 0.07 is below the 20-day moving average (MA) of 0.08, below the 50-day MA of 0.07, and below the 200-day MA of 0.08, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 69.65 is Neutral, neither overbought nor oversold. The STOCH value of 81.02 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:CCA.

Change Financial Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
COS	67 Neutral	AU$54.60M	15.13	10.79%	4.66%	14.59%	-11.13%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
CCR	61 Neutral	AU$106.89M	17.23	5.74%	―	11.72%	―
KYP	56 Neutral	AU$74.39M	44.74	4.26%	―	11.90%	42.11%
CCA	54 Neutral	AU$59.38M	107.50	-13.21%	―	43.85%	29.03%
CCG	46 Neutral	AU$40.44M	67.27	-1.89%	3.45%	2.06%	-277.78%
EML	45 Neutral	AU$240.82M	-3.57	-32.98%	―	-5.87%	-540.18%

Change Financial Ltd Corporate Events

Change Financial Sets Date for Q2 FY26 Results and Investor Webinar

Change Financial Limited has scheduled the release of its Quarterly Activities Report and Appendix 4C cashflow statement for the three months to 31 December 2025 on 29 January 2026, and will host a live investor webinar and Q&A on the same day. The planned disclosure and investor engagement signal the company’s ongoing focus on transparency around its operating performance and cash position, providing shareholders with an opportunity to gain further insight into its progress in the competitive global payments and fintech market.

The most recent analyst rating on (AU:CCA) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Change Financial Ltd stock, see the AU:CCA Stock Forecast page.

Change Financial Ltd Announces Director’s Interest Update

Change Financial Ltd announced a significant change in the interests of its director, Thomas Russell, with the issuance of 4,500,000 Performance Rights following the approval of Resolution 6 at the 2025 Annual General Meeting. This change reflects the company’s ongoing commitment to aligning its leadership’s interests with its strategic objectives, potentially impacting its market positioning and stakeholder confidence.

Change Financial Issues 25.95 Million Unquoted Share Rights

Change Financial Limited announced the issuance of 25,950,000 unquoted share rights under an employee incentive scheme. This move is part of the company’s strategy to incentivize employees and align their interests with the company’s growth objectives, potentially impacting its operational dynamics and stakeholder engagement.

Change Financial Secures Shareholder Support at 2025 AGM

Change Financial Limited announced that all motions proposed at their 2025 Annual General Meeting were passed by poll, indicating strong shareholder support for the company’s strategic direction. The resolutions included the adoption of the remuneration report, election and re-election of directors, approval for issuing securities under the performance rights plan, and the grant of executive director performance rights. This outcome reflects confidence in the company’s leadership and its future plans, potentially enhancing its market position and stakeholder trust.

Change Financial Ltd Advances in Payment Solutions with Strong Q1 FY26 Performance

Change Financial Ltd’s Q1 FY26 investor presentation highlights their continued innovation in the payments sector, with a significant portion of revenue derived from digital and physical card issuing and transaction processing. The company’s strategic focus on leveraging proprietary technology to provide tailored solutions positions them strongly within the banking and payments ecosystem, potentially enhancing their market presence and stakeholder value.

Change Financial Ltd Reports Record Revenue and Strategic Growth in Q1 FY26

Change Financial Ltd reported a strong first quarter for FY26, with record revenue of US$4.6 million, marking a 25% increase from the previous year. The company achieved a positive net cash flow from operating activities and demonstrated significant operating leverage. New sales of Vertexon and PaySim licenses contributed to this growth, alongside a robust sales pipeline and ongoing product development. The company’s strategic focus on simplifying operations and targeting growth regions has resulted in increased client adoption and future revenue potential.