Carnegie Clean Energy Ltd (CCE) AI Stock Analysis

• Market Cap: AU$24.06M
• Dividend Yield: N/A
• Average Volume (3M): 139.68K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.01
• Revenue Growth: -8.52%
• EPS Growth: 13.51%
• Country: AU
• Employees: 52
• Sector: Utilities
• Sector Strength: 65
• Industry: Renewable Utilities
• EPS (TTM): >-0.01
• Shares Outstanding: 407,727,480
• 10 Day Avg. Volume: 88,070
• 30 Day Avg. Volume: 139,680
• PEG Ratio: 0.60
• Price to Book (P/B): 0.98
• Price to Sales (P/S): 59.60
• P/FCF Ratio: 5.44
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: AU$0.06 ▼(-28.75% Downside)
• Action: Reiterated Date: 02/27/26
• Date: Action: Reiterated 02/27/26

The score is primarily held down by weak financial performance (declining revenue, ongoing losses, and poor free cash flow). Technicals add further pressure given the stock’s downtrend and negative MACD, while valuation is also constrained by a negative P/E and no dividend support.

Positive Factors

Proprietary ocean-energy technology / IP

Ownership of specialized ocean-energy technology and associated IP gives Carnegie a structural competitive position in a narrowly served niche. This intellectual property can enable licensing, project development advantages, and long sales cycles tied to infrastructure projects, supporting durable optionality if commercial markets expand.

Relatively high gross margin

A near-50% gross margin indicates the company can capture a meaningful share of project or product value after direct costs. Sustained gross margin supports long-term scalability, funds continued R&D and project development, and provides a cushion while operating income and revenue growth are restored.

Manageable leverage / solid equity base

Low debt relative to equity reduces refinancing and solvency risk, giving management flexibility to fund development, pursue demonstrations, or secure partnerships without heavy interest burdens. This balance-sheet headroom improves survival odds during multi-year commercialization timelines.

Negative Factors

Declining revenue and persistent losses

A multi-quarter or annual revenue decline with negative operating and net margins signals structural commercialization challenges. For a technology-driven renewables firm, sustained top-line weakness limits ability to scale projects, weakens partner confidence, and increases dependence on external funding for continued development.

Very weak and volatile free cash flow

Large negative and volatile FCF undermines internal funding for pilots, R&D, and project execution. Persistent cash shortfalls raise dilution or financing risk, constrain multi-year project commitments, and reduce bargaining power with customers and suppliers—risking slower commercialization and lower long-term returns.

Negative return on equity

Negative ROE indicates the company is not generating positive returns on capital, a structural signal that deployed resources are not yet producing profitable outcomes. This deters long-term capital providers, complicates partnerships, and implies material operational or market hurdles must be overcome to achieve sustainable profitability.

Carnegie Clean Energy Ltd Business Overview & Revenue Model

Company Description

Carnegie Clean Energy Ltd (CCE) is an Australian renewable energy company focused on delivering innovative and sustainable energy solutions. The company specializes in wave energy technology, solar energy systems, and energy storage solutions. CCE is committed to harnessing the power of natural resources to provide clean energy alternatives, contributing to a transition towards a low-carbon economy.

How the Company Makes Money

Carnegie Clean Energy generates revenue primarily through the development and commercialization of its wave energy technology, which is designed to convert ocean wave energy into electricity. The company earns revenue by selling its technology, entering into power purchase agreements (PPAs), and securing government grants and funding for renewable energy projects. Key revenue streams include the sale of energy produced from its wave energy projects, licensing of its technology to third parties, and partnerships with other energy firms and government bodies. Significant collaborations and contracts, particularly in the renewable energy sector, further enhance its earnings potential.

Carnegie Clean Energy Ltd Financial Statement Overview

Summary

Financials are weak overall: revenue declined (-10.98%) with negative EBIT and net profit margins. The balance sheet leverage is manageable (debt-to-equity 0.26), but negative ROE and very weak/volatile free cash flow (FCF growth -239.41%) keep the score low despite a solid gross margin (47.29%).

Income Statement

Carnegie Clean Energy Ltd has faced declining revenue with a negative growth rate of -10.98% in the latest year. The company struggles with profitability, as indicated by negative net profit and EBIT margins. However, the gross profit margin remains relatively strong at 47.29%, suggesting some efficiency in cost management despite overall losses.

Balance Sheet

The balance sheet shows a moderate debt-to-equity ratio of 0.26, indicating manageable leverage. However, the return on equity is negative, reflecting ongoing losses. The equity ratio is stable, suggesting a solid asset base relative to equity, but profitability remains a concern.

Cash Flow

Cash flow analysis reveals significant volatility, with a large negative free cash flow growth rate of -239.41%. The operating cash flow to net income ratio is positive, indicating some ability to generate cash from operations, but the overall cash flow position is weak, reflecting financial instability.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	417.09K	317.36K	346.92K	383.74K	321.94K	60.95K
Gross Profit	-630.94K	150.09K	194.61K	383.74K	321.94K	60.95K
EBITDA	-1.54M	-1.56M	-1.99M	-176.07K	-2.00M	-199.00K
Net Income	-2.64M	-2.33M	-2.32M	-630.00K	-1.93M	-932.00K
Balance Sheet
Total Assets	24.64M	27.53M	22.40M	22.49M	21.52M	21.99M
Cash, Cash Equivalents and Short-Term Investments	3.95M	2.90M	3.73M	2.00M	4.10M	3.63M
Total Debt	2.31M	5.04M	34.22K	110.92K	167.62K	47.16K
Total Liabilities	5.12M	8.29M	1.30M	1.26M	785.90K	544.94K
Stockholders Equity	19.52M	19.24M	21.10M	21.22M	20.73M	21.45M
Cash Flow
Free Cash Flow	5.27M	3.47M	-1.85M	-2.84M	-50.86K	-1.14M
Operating Cash Flow	3.30M	3.47M	-1.83M	-1.72M	960.54K	166.91K
Investing Cash Flow	1.95M	573.96K	1.88M	-1.12M	-1.01M	-1.31M
Financing Cash Flow	1.73M	2.08M	1.68M	745.70K	512.38K	1.36M

Carnegie Clean Energy Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.08
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CCE, the sentiment is Negative. The current price of 0.08 is above the 20-day moving average (MA) of 0.06, above the 50-day MA of 0.07, and above the 200-day MA of 0.07, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 43.07 is Neutral, neither overbought nor oversold. The STOCH value of 23.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:CCE.

Carnegie Clean Energy Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VPR	75 Outperform	AU$25.36M	18.24	14.11%	―	-11.85%	6.25%
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
LPE	50 Neutral	AU$18.26M	-5.18	-38.32%	―	2.69%	-273.87%
CCE	44 Neutral	AU$24.06M	-7.86	-11.34%	―	-8.52%	13.51%
14D	44 Neutral	AU$8.74M	-1.74	-47.12%	―	―	-15.24%
DEL	43 Neutral	AU$22.03M	-2.46	-129.44%	―	-29.97%	-284.16%
JNS	34 Underperform	AU$14.04M	-0.81	-84.32%	―	―	91.54%

Carnegie Clean Energy Ltd Corporate Events

Carnegie Clean Energy Narrows Half-Year Loss as Revenue Rises from Microgrid Operations

Carnegie Clean Energy reported a 45.4% increase in revenue from ordinary activities to $270,483 for the half-year ended 31 December 2025, driven primarily by income from the Garden Island Micro Grid. Despite the higher revenue and capitalisation of technology development costs, the company posted a net loss attributable to members of $1.7 million, a 22.7% improvement on the prior period, reflecting ongoing operating and overhead expenses.

No interim or final dividend was declared, and there is no dividend reinvestment plan in place, underlining the company’s continued focus on reinvestment and development rather than shareholder payouts. Net tangible asset backing per share fell to 0.63 cents from 1.22 cents a year earlier, indicating balance sheet dilution as Carnegie advances its clean energy projects without gaining control of new entities or associates during the period.

The most recent analyst rating on (AU:CCE) stock is a Sell with a A$0.05 price target. To see the full list of analyst forecasts on Carnegie Clean Energy Ltd stock, see the AU:CCE Stock Forecast page.

Carnegie Clean Energy Advances European CETO Deployment and Secures New EU Wave Energy Funding

Carnegie Clean Energy reported continued progress in commercialising its wave energy portfolio during the quarter to 31 December 2025, with construction and integrated assembly of its first European CETO unit under the ACHIEVE Programme advancing ahead of planned deployment at the Biscay Marine Energy Platform. The company initiated the €4 million EU-funded COIN project to develop CETO-based cost-reduction innovations, successfully completed factory acceptance testing on key components, and prepared power take-off system assembly with engineering partner SKF in Germany, while also completing four EuropeWave milestones and receiving related funding, alongside Basque R&D tax credit sales and COIN pre-financing. These developments, combined with an Australian Department of Defence innovation award highlighting potential defence applications and growing interest from aquaculture, strengthen Carnegie’s strategic positioning in wave energy, support its push toward commercial-scale deployment, and underline emerging high-value market opportunities for its technologies in global decarbonisation efforts.

The most recent analyst rating on (AU:CCE) stock is a Sell with a A$0.07 price target. To see the full list of analyst forecasts on Carnegie Clean Energy Ltd stock, see the AU:CCE Stock Forecast page.

Carnegie Clean Energy Secures Further EuropeWave Funding for CETO Deployment

Carnegie Clean Energy’s Irish subsidiary, CETO Wave Energy Ireland, has received two EuropeWave Phase 3 milestone payments totalling €350,643 (about A$613,000) after completing key fabrication work on the CETO unit’s buoyant actuator, mooring connectors and foundation structures for the ACHIEVE Programme at the Biscay Marine Energy Platform in Spain. The latest funds mean 57% of the €3.75 million EuropeWave Phase 3 contract has now been drawn down, underscoring steady technical and financial progress toward the first European deployment of CETO technology, a pivotal step in Carnegie’s commercialisation pathway and its positioning within the competitive wave energy sector.

The most recent analyst rating on (AU:CCE) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Carnegie Clean Energy Ltd stock, see the AU:CCE Stock Forecast page.

Carnegie Clean Energy Monetises Basque R&D Tax Deductions for €773,000

Carnegie Clean Energy’s Spanish subsidiary, Carnegie Technologies Spain, has monetised its 2025 Basque research and development tax deductions linked to the ACHIEVE Programme, securing €773,163 (about A$1.37 million) in cash funding from third-party financiers, less approximately €70,000 in associated fees. The binding tax assessment recognises the ACHIEVE Programme, including eligible spending on CETO components, as R&D for 2025–2027, enabling the creation and sale of tax deductions; the resulting non-dilutive funding strengthens Carnegie’s balance sheet and supports ongoing deployment and validation of its CETO wave energy technology in the Basque region, advancing its commercialisation pathway and reinforcing its positioning within Europe’s emerging wave energy ecosystem.

The most recent analyst rating on (AU:CCE) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Carnegie Clean Energy Ltd stock, see the AU:CCE Stock Forecast page.

Carnegie Clean Energy Advances ACHIEVE Programme for Wave Energy Deployment

Carnegie Clean Energy has provided an update on progress within its ACHIEVE Programme, which aims to deploy and operate a scaled CETO unit at the BiMEP test site in the Basque Country by summer 2026. The company has completed key fabrication milestones, including the Factory Acceptance Testing of components, and advanced onshore testing campaigns to mitigate technical risk and ensure efficient system deployment. These efforts signify a strategic step forward for Carnegie in advancing wave energy technology and reinforcing its position in the renewable energy market.

The most recent analyst rating on (AU:CCE) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Carnegie Clean Energy Ltd stock, see the AU:CCE Stock Forecast page.

Carnegie Clean Energy Advances Wave Energy Innovations with EU-Funded COIN Project

Carnegie Clean Energy’s subsidiary, Carnegie Technologies Spain, has received a pre-financing payment for its participation in the COIN Project, a €4 million initiative funded by the European Commission. The project aims to enhance the reliability and sustainability of wave energy farms through innovations like AI-enhanced wave prediction and health monitoring systems, using Carnegie’s CETO technology as the testing platform. This initiative is expected to reduce the cost of wave energy significantly and provides a strategic advantage for Carnegie’s commercial unit design and commercialization pathway without requiring cash contributions from the company.

The most recent analyst rating on (AU:CCE) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Carnegie Clean Energy Ltd stock, see the AU:CCE Stock Forecast page.