Carnegie Clean Energy Ltd (CCE) AI Stock Analysis

• Market Cap: AU$27.32M
• Dividend Yield: N/A
• Average Volume (3M): 139.68K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.21
• 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: 45 Neutral
• Price Target: AU$0.06 ▼(-25.00% Downside)
• Action: Reiterated Date: 03/12/26
• Date: Action: Reiterated 03/12/26

The score is primarily weighed down by weak financial performance (declining revenue, ongoing losses, and unstable free cash flow). Technical signals also remain negative with price below key long-term moving averages and a negative MACD. Valuation provides limited support because the negative P/E reflects unprofitable operations and no dividend yield is available.

Positive Factors

Manageable Leverage

A debt-to-equity ratio of 0.26 indicates manageable leverage, giving the company structural financial flexibility. Over the next 2-6 months this reduces interest burden risk, supports continued R&D and pilot work without immediate distress, and eases access to additional financing if needed.

Strong Gross Margin

A 47.29% gross margin suggests the company retains meaningful value after direct costs, reflecting efficiency in technology development or project execution. Sustained margins support longer-term profitability potential as revenue stabilizes and scale improves, underpinning product competitiveness.

Operating Cash Generation

A positive operating-cash-to-net-income ratio shows core activities generate cash despite accounting losses. This durable operational cash conversion can fund working capital and near-term project milestones, reducing immediate reliance on equity raises and supporting ongoing commercialization efforts.

Negative Factors

Declining Revenue & Losses

Revenue down 10.98% and ongoing negative net profit constrains scale economics and slows commercialization of CCE's technologies. Persisting top-line decline reduces margin absorption, raises the cost of capital, and makes multi-quarter recovery harder without demonstrable contract wins or new revenue streams.

Volatile Free Cash Flow

A sharp -239.41% free cash flow swing signals unstable cash conversion and heavy discretionary or project spending. Over a medium-term horizon this heightens execution risk, increases dependence on external funding, and can limit the firm's ability to complete pilots or scale deployments without dilutive financing.

Negative Profitability & ROE

Negative EBIT and net margins, coupled with a negative return on equity, indicate the company currently fails to generate acceptable returns on invested capital. Structurally, this challenges investor confidence and the long-term viability of commercialization until margins or revenue mix materiallly improve.

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

CCE’s revenue model is not consistently disclosed in a way that allows a complete, current breakdown of how it makes money across all operating periods; therefore, specific revenue streams and their relative contributions are null. Historically, companies in CCE’s position have typically generated or sought to generate income through a combination of: (1) development and commercialization of proprietary ocean-energy technology via licensing or sale of intellectual property; (2) engineering/project development services and milestone payments under funded demonstration projects; (3) government grants or public funding tied to renewable-energy R&D and pilot deployments; and (4) potential revenue from electricity generation from operating assets where projects reach operation. However, without up-to-date, company-confirmed figures or disclosures for the relevant period (e.g., recent annual reports detailing revenue composition, customer contracts, project economics, or named partners), the specific mechanisms by which CCE currently earns revenue, its key paying customers/partners, and the materiality of each stream are null.

Carnegie Clean Energy Ltd Financial Statement Overview

Summary

Weak fundamentals driven by declining revenue (-10.98%) and persistent losses with negative net profit and EBIT margins. Leverage is manageable (debt-to-equity 0.26) and gross margin is relatively strong (47.29%), but cash flow is unstable with sharply negative free cash flow growth (-239.41%), keeping the overall financial profile pressured.

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: Positive
• Last Price: 0.08
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CCE, the sentiment is Positive. 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 neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 60.07 is Neutral, neither overbought nor oversold. The STOCH value of 91.67 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
VPR	59 Neutral	AU$24.55M	31.82	6.92%	―	-11.85%	6.25%
LPE	50 Neutral	AU$16.62M	3.47	-45.61%	―	2.69%	-273.87%
CCE	45 Neutral	AU$27.32M	-3.24	-13.64%	―	-8.52%	13.51%
14D	44 Neutral	AU$7.49M	-0.61	-108.64%	―	―	-15.24%
DEL	43 Neutral	AU$20.93M	-4.53	-129.44%	―	-29.97%	-284.16%
JNS	34 Underperform	AU$14.04M	0.05	-31.05%	―	―	91.54%

Carnegie Clean Energy Ltd Corporate Events

Carnegie Clean Energy Secures $568,630 R&D Tax Rebate to Advance Wave Power Technologies

Carnegie Clean Energy has received a Research and Development Tax Incentive cash rebate of $568,630 from the Australian Tax Office for the financial year ended 30 June 2025. The rebate reflects eligible research and development expenditure incurred during the year, underscoring the company’s ongoing investment in advancing its ocean energy technologies.

The company also plans to lodge a further application for the R&D Tax Incentive based on eligible expenditure for the year ending 30 June 2026. Continued access to this government support is expected to help Carnegie fund innovation activities and maintain momentum across its CETO and MoorPower programmes, reinforcing its position in the emerging ocean renewables sector.

The most recent analyst rating on (AU:CCE) stock is a Hold with a A$0.06 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 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.