Carnegie Clean Energy Ltd (CCE) AI Stock Analysis

• Market Cap: AU$29.76M
• Dividend Yield: N/A
• Average Volume (3M): 139.68K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.14
• 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: 49 Neutral
• Price Target: AU$0.07 ▼(-10.00% Downside)

The score is held back primarily by weak financial performance (declining revenue, continued losses, and deteriorating free cash flow), partially offset by moderately improving technical signals (price above key moving averages with neutral-to-positive momentum). Valuation is also a drag due to loss-making results (negative P/E) and no dividend yield data.

Positive Factors

Strong gross profit margin

A gross margin near 47% indicates the company retains healthy unit economics on projects or services. For a technology-heavy renewable firm, durable gross margins provide room to fund R&D and absorb project variability while pursuing long-term commercialization of ocean-energy IP.

Manageable leverage

A low debt-to-equity ratio (~0.26) gives the company financial flexibility to pursue multi-year development projects typical in ocean energy. Manageable leverage reduces near-term interest burden and supports the ability to raise non-debt financing for long-duration pilots and commercialization.

Focused on ocean/clean-energy tech

A clear strategic focus on ocean energy and related clean technologies aligns with long-term decarbonization trends and infrastructure investment. Specialized IP and engineering capabilities can create durable competitive advantages in a niche, capital-intensive renewables segment.

Negative Factors

Declining revenue trend

Persistent revenue decline (~11% year) weakens scale economics critical for commercializing capital-intensive technologies. Lower top-line momentum reduces reinvestment capacity, prolongs reliance on external funding, and limits the firm's ability to prove and scale ocean-energy solutions over the next several quarters.

Negative profitability and ROE

Negative net profit and EBIT margins and a negative return on equity indicate the business is not generating shareholder returns. Over months, sustained losses can erode equity, increase financing needs, and impede long-term investment in product development and commercial deployments.

Severely weakening free cash flow

A drastic FCF decline (~-239%) signals worsening cash generation and potential cash burn. For a development-stage renewable firm, weak FCF constrains funding for pilots, forces reliance on grants or equity raises, and heightens dilution and execution risk over the medium term.

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

Income statement and cash flow are weak: revenue declined (-10.98%), profitability remains negative (net profit and EBIT margins), and free cash flow growth is sharply negative (-239.41%). The balance sheet is more stable with manageable leverage (debt-to-equity 0.26) and a solid equity base, but negative ROE underscores ongoing losses.

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	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	317.36K	317.36K	346.92K	383.74K	321.94K	60.95K
Gross Profit	-9.81K	150.09K	194.61K	383.74K	321.94K	60.95K
EBITDA	-1.47M	-1.56M	-1.99M	-176.07K	-2.00M	-199.00K
Net Income	-2.33M	-2.33M	-2.32M	-630.00K	-1.93M	-932.00K
Balance Sheet
Total Assets	27.53M	27.53M	22.40M	22.49M	21.52M	21.99M
Cash, Cash Equivalents and Short-Term Investments	2.90M	2.90M	3.73M	2.00M	4.10M	3.63M
Total Debt	5.04M	5.04M	34.22K	110.92K	167.62K	47.16K
Total Liabilities	8.29M	8.29M	1.30M	1.26M	785.90K	544.94K
Stockholders Equity	19.24M	19.24M	21.10M	21.22M	20.73M	21.45M
Cash Flow
Free Cash Flow	3.47M	3.47M	-1.85M	-2.84M	-50.86K	-1.14M
Operating Cash Flow	3.47M	3.47M	-1.83M	-1.72M	960.54K	166.91K
Investing Cash Flow	573.96K	573.96K	1.88M	-1.12M	-1.01M	-1.31M
Financing Cash Flow	2.08M	2.08M	1.68M	745.70K	512.38K	1.36M

Carnegie Clean Energy Ltd Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.08
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• 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 Neutral. The current price of 0.08 is above the 20-day moving average (MA) of 0.08, above the 50-day MA of 0.07, and above the 200-day MA of 0.07, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 48.66 is Neutral, neither overbought nor oversold. The STOCH value of 30.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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$27.00M	19.41	14.11%	―	-11.85%	6.25%
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
CCE	49 Neutral	AU$29.76M	-11.41	-11.34%	―	-8.52%	13.51%
14D	48 Neutral	AU$10.40M	-2.07	-47.12%	―	―	-15.24%
LPE	47 Neutral	AU$17.35M	-4.92	-38.32%	―	2.69%	-273.87%
DEL	40 Underperform	AU$20.93M	-2.33	-129.44%	―	-29.97%	-284.16%
JNS	34 Underperform	AU$14.63M	-0.84	-84.32%	―	―	91.54%

Carnegie Clean Energy Ltd Corporate Events

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.

Carnegie Clean Energy Ltd AGM: Key Resolutions and Board Changes

Carnegie Clean Energy Ltd held its Annual General Meeting, where several resolutions were put to a vote. Key outcomes included the re-election of Mr. Grant Mooney as Director and the approval of a 10% Placement Facility, both of which were carried. However, the election of Stephen Mayne as Director was not carried, indicating shareholder preference and impacting the company’s board composition.

Carnegie Clean Energy Advances Ocean Energy Solutions

Carnegie Clean Energy Ltd, a leader in ocean energy technology, is committed to advancing sustainability through its innovative products and services. The company’s focus on developing and manufacturing technologies like CETO and MoorPower positions it strategically in the renewable energy sector, potentially enhancing its market presence and impact.

Carnegie Clean Energy Advances Wave Power Initiatives in Q3 2025

Carnegie Clean Energy Ltd reported significant progress in the quarter ending September 2025, highlighted by its selection as the key technology partner in the €4 million COIN project under the Horizon Europe Programme. This partnership aims to enhance the CETO wave energy converter’s capabilities, including AI advancements to increase energy capture and reduce costs. The company also raised $2.116 million through a Share Purchase Plan, reflecting shareholder confidence in the commercial potential of its technologies. Additionally, Carnegie completed major manufacturing milestones for the ACHIEVE Programme’s CETO deployment in Spain and engaged in international investor discussions, indicating growing global interest in its wave energy solutions.