Change Financial Ltd (CCA) AI Stock Analysis

• Market Cap: AU$46.95M
• Dividend Yield: N/A
• Average Volume (3M): 269.70K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.64
• 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$27.15M

• Rating: 48 Neutral
• Price Target: AU$0.07 ▼(-7.14% Downside)

The score is primarily held back by ongoing profitability challenges despite revenue growth and improving free cash flow. Technical indicators also point to a weak price trend. Valuation is difficult to support with a negative P/E tied to current losses.

Positive Factors

Sustained Revenue Growth

Consistent revenue growth demonstrates expanding demand for Change Financial's payment processing and banking services. A durable transaction-fee business combined with premium services supports recurring revenue and scale benefits, aiding long-term customer acquisition and product investment.

Conservative Leverage

Very low leverage provides financial flexibility to fund product development, absorb shocks, and pursue partnerships without heavy interest burdens. This capital structure supports sustained investment in technology and market expansion while limiting solvency risk over the medium term.

Improving Free Cash Flow

Rising free cash flow improves liquidity and reduces reliance on external funding, enabling ongoing platform investment and working capital support. A free cash flow to net income ratio near 1 suggests efficient cash conversion that can underwrite growth despite reported accounting losses.

Negative Factors

Persistent Profitability Shortfall

Ongoing negative operating and net margins indicate the business has yet to achieve sustainable unit economics. Continued losses constrain retained earnings, limit reinvestment without external capital, and increase execution risk as the firm scales in competitive fintech markets.

Margin Compression

Declining gross margins point to pricing pressure or rising direct costs, which can erode the economics of a transaction-fee model. Without offsetting scale, cost controls, or higher-value product mix, margin compression threatens long-term profitability even as revenue grows.

Weak Operating Cash Conversion

Low operating cash flow relative to net income signals core operations are not yet generating robust cash. This can necessitate continued external financing for growth or working capital, reducing strategic flexibility and increasing funding risk over the coming quarters.

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

Change Financial Ltd is experiencing growth in revenue and improvements in cash flow, but profitability remains a challenge. The company has a strong balance sheet with low leverage, which provides stability. Continued focus on improving margins and cash flow generation will be crucial for future financial health.

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	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 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: Negative
• Last Price: 0.07
• 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:CCA, the sentiment is Negative. The current price of 0.07 is above the 20-day moving average (MA) of 0.07, above the 50-day MA of 0.07, and below the 200-day MA of 0.07, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 47.22 is Neutral, neither overbought nor oversold. The STOCH value of 33.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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	70 Outperform	AU$92.81M	11.64	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$120.29M	29.76	5.74%	―	11.72%	―
KYP	54 Neutral	AU$105.02M	81.48	4.26%	―	11.90%	42.11%
CCA	48 Neutral	AU$46.95M	-15.45	-13.21%	―	43.85%	29.03%
CCG	46 Neutral	AU$37.13M	-42.50	-1.89%	3.45%	2.06%	-277.78%
EML	41 Neutral	AU$341.56M	-6.10	-32.98%	―	-5.87%	-540.18%

Change Financial Ltd Corporate Events

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.

Change Financial Unveils Q1 FY26 Reports and New Investor Hub

Change Financial Limited announced the release of its Quarterly Activities Report and Cashflow Report for Q1 FY26, alongside the launch of a new Investor Hub. This initiative aims to enhance shareholder engagement by providing a centralized platform for ASX announcements, shareholder news, and company updates. The launch of the Investor Hub is expected to strengthen Change Financial’s communication with its stakeholders, allowing for better interaction and understanding of the company’s developments.