Cokal Limited (AU:CKA)
ASX:CKA
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Cokal
(Sydney:CKA)
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Rating:43Neutral
Price Target:
AU$0.05
▲(15.00% Upside)
Action:Reiterated
Date:05/01/26
The score is primarily constrained by weak financial performance (unprofitability, negative equity/leverage risk, and negative operating/free cash flow). Technicals add mild downside pressure (negative MACD and trading below key moving averages). Valuation is difficult to assess due to a negative P/E and no dividend yield provided.
Positive Factors
Metallurgical coal focus
Cokal’s asset focus on metallurgical coal targets a structurally stable industrial end market (steelmaking). If projects progress to production, the company addresses long-term demand drivers (coke/PCI) tied to steel supply chains, supporting persistent revenue potential once operational.
Negative Factors
Negative equity and high leverage
Negative equity and an effective debt-to-equity of -1.99 indicate material solvency and capital-structure risk. Over the medium term this limits access to bank financing, increases refinancing and covenant risk, and may force dilutive capital raises or asset sales to fund project development.
Read all positive and negative factors
Positive Factors
Negative Factors
Metallurgical coal focus
Cokal’s asset focus on metallurgical coal targets a structurally stable industrial end market (steelmaking). If projects progress to production, the company addresses long-term demand drivers (coke/PCI) tied to steel supply chains, supporting persistent revenue potential once operational.
Read all positive factors
Cokal (CKA) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$55.03M
Dividend YieldN/A
Average Volume (3M)838.37K
Price to Earnings (P/E)―
Beta (1Y)2.03
Revenue Growth10.16%
EPS Growth60.40%
CountryAU
Employees2
SectorBasic Materials
Sector Strength58
IndustryCoal
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding1,078,949,000
10 Day Avg. Volume722,007
30 Day Avg. Volume838,365
Financial Highlights & Ratios
PEG Ratio0.12
Price to Book (P/B)-1.39
Price to Sales (P/S)6.48
P/FCF Ratio-3.91
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Cokal Business Overview & Revenue Model
Company Description
Cokal Limited (CKA) is an Australian-based mining company focused on the exploration and development of coal projects in Indonesia. The company operates primarily in the coal sector, aiming to produce high-quality metallurgical coal for the global...
How the Company Makes Money
Cokal’s intended revenue model is based on monetizing metallurgical coal resources through the development, production, and sale of coal to industrial customers (typically steel producers and coal traders). Under this model, the company would gene...
Cokal Financial Statement Overview
Summary
Income Statement
20
Very Negative
Balance Sheet
15
Very Negative
Cash Flow
25
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.26M | 5.16M | 5.61M | 24.58K | 39.61K | 4.53K |
| Gross Profit | -1.85M | -3.17M | 908.00K | -616.59K | -220.58K | -213.01K |
| EBITDA | -2.46M | -8.73M | -8.96M | -13.13M | -9.52M | -3.32M |
| Net Income | -4.81M | -11.24M | -14.73M | -13.78M | -9.83M | -3.62M |
Balance Sheet | ||||||
| Total Assets | 50.43M | 73.96M | 67.42M | 64.78M | 44.24M | 35.17M |
| Cash, Cash Equivalents and Short-Term Investments | 1.61M | 2.59M | 2.27M | 2.23M | 724.29K | 414.46K |
| Total Debt | 35.86M | 47.91M | 38.23M | 30.83M | 23.47M | 5.28M |
| Total Liabilities | 69.16M | 97.99M | 80.12M | 62.74M | 44.28M | 26.50M |
| Stockholders Equity | -18.73M | -24.03M | -12.70M | 2.04M | -40.85K | 8.67M |
Cash Flow | ||||||
| Free Cash Flow | -11.20M | -8.56M | -7.42M | -19.87M | -17.15M | -2.90M |
| Operating Cash Flow | -8.72M | -2.55M | -1.44M | -8.60M | -11.63M | -2.36M |
| Investing Cash Flow | -2.49M | -6.01M | -7.33M | -11.27M | -5.52M | -545.00K |
| Financing Cash Flow | 11.71M | 8.79M | 7.47M | 21.34M | 17.41M | 2.08M |
Cokal Technical Analysis
Neutral
0.04
Price Trends
0.06
Negative
0.07
Negative
0.05
Negative
Market Momentum
>-0.01
Negative
46.70
Neutral
50.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CKA, the sentiment is Neutral. The current price of 0.04 is below the 20-day moving average (MA) of 0.05, below the 50-day MA of 0.06, and below the 200-day MA of 0.05, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 46.70 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:CKA.
Cokal Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | AU$7.16B | 11.90 | 11.25% | 1.92% | -13.80% | 268.90% | |
62 Neutral | AU$2.48B | -24.22 | -4.42% | 7.32% | -19.76% | -125.65% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
44 Neutral | AU$127.58M | -1.15 | -41.52% | ― | -6.64% | -2196.77% | |
44 Neutral | AU$452.64M | -0.51 | -98.22% | 4.79% | -14.94% | -255.82% | |
43 Neutral | AU$55.03M | -8.19 | 22.56% | ― | 10.16% | 60.40% | |
41 Neutral | AU$8.08M | -0.02 | -425.94% | ― | ― | ― |
* Basic Materials Sector Average
AU:CKA
Cokal
0.05
0.02
50.00%
AU:WHC
Whitehaven Coal Limited
9.01
3.60
66.48%
AU:BCB
Bowen Coking Coal Ltd
0.08
-0.31
-80.26%
AU:SMR
Stanmore Resources Ltd
2.87
1.09
61.42%
AU:TER
TerraCom Limited
0.07
0.02
34.55%
AU:CRN
Coronado Global Resources Inc. Shs Chess Depository Interests Repr 10 Sh
0.28
0.18
175.00%
Cokal Corporate Events
Cokal’s Operations Slow as Market Softens and Logistics Costs Rise
Apr 30, 2026
Cokal reported that mining, hauling, and infrastructure works continued at a reduced pace in the March quarter, as delays in regulatory approvals, high fuel prices, and limited fuel availability constrained operations. Hauling and barging were fur...
Cokal flags Q1 production shortfall as it navigates Indonesian regulatory delays
Mar 17, 2026
Cokal reported ongoing coal mining and hauling at its Indonesian metallurgical coal operations, but said equipment availability issues in February will leave first-quarter production below plan, with corrective measures underway and a ramp-up targ...
Cokal Highlights Sustainable Focus in 2025 Half-Year Update
Mar 15, 2026
Cokal Limited has released its 2025 half-year report, reiterating its strategic focus on producing high-quality metallurgical coal. The update underscores the company’s commitment to sustainable mining practices and responsible stakeholder e...
Cokal Advances Key Haul Road Infrastructure at Indonesian BBM Coal Project
Mar 10, 2026
Cokal Limited has engaged Indonesian contractor PT Petrosea Tbk to build key infrastructure at its Bumi Barito Mineral project in Central Kalimantan, including Segment B of the main haul road and associated logistics facilities. The works, encompa...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.