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Cokal
(Sydney:CKA)
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Rating:47Neutral
Price Target:
AU$0.05
▼(-10.00% Downside)
Action:Reiterated
Date:07/15/26
The overall score is heavily constrained by Cokal’s very weak financial position, characterized by recurring losses, negative margins, negative equity, high leverage, and persistently negative operating and free cash flows, all of which signal elevated financial and insolvency risk. A modestly positive technical setup, with the price trading above short-term moving averages and supported by slightly positive MACD and mid-range RSI and stochastic readings, provides some near-term trading support but does not offset the underlying fundamental risks. Valuation remains speculative given the negative P/E ratio and absence of a dividend, leaving investors reliant on a high-risk turnaround scenario rather than fundamentals, which keeps the overall score in the lower tier of the range.
Positive Factors
Coal concessions (Indonesia)
Ownership of coal concessions provides durable asset optionality: licensed resource positions in Indonesia underpin the company’s ability to develop production volumes over the medium term, forming the core asset base for future revenue once projects progress to commercial stages.
Negative Factors
Negative equity / high leverage
Negative shareholders’ equity and very high leverage indicate severe solvency risk and limited financial flexibility. This structural balance-sheet weakness constrains ability to fund development without dilutive or expensive financing and elevates refinancing and counterparty risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Coal concessions (Indonesia)
Ownership of coal concessions provides durable asset optionality: licensed resource positions in Indonesia underpin the company’s ability to develop production volumes over the medium term, forming the core asset base for future revenue once projects progress to commercial stages.
Read all positive factors
Cokal (CKA) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$62.58M
Dividend YieldN/A
Average Volume (3M)838.37K
Price to Earnings (P/E)―
Beta (1Y)2.14
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 Ratio0.18
Price to Book (P/B)-2.13
Price to Sales (P/S)9.93
P/FCF Ratio-5.98
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)0.04
Revenue Forecast (FY)AU$261.30M
Cokal Business Overview & Revenue Model
Company Description
Cokal Limited specializes in the exploration and development of coal resources within Indonesia. Its most significant asset is the Bumi Barito Mineral project, a metallurgical coal venture in which Cokal holds a 60% interest. This project, located...
How the Company Makes Money
null...
Cokal Financial Statement Overview
Summary
Income Statement
16
Very Negative
Balance Sheet
8
Very Negative
Cash Flow
13
Very Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.57M | 3.37M | 3.67M | 16.32K | 27.24K | 3.40K |
| Gross Profit | -1.35M | -2.07M | -2.00M | -409.48K | -151.66K | -929.39K |
| EBITDA | -2.35M | -5.70M | ― | ― | ― | -2.49M |
| Net Income | -4.19M | ― | -9.82M | -9.15M | ― | -2.71M |
Balance Sheet | ||||||
| Total Assets | 50.43M | 48.31M | 44.95M | 64.78M | 44.24M | 26.41M |
| Cash, Cash Equivalents and Short-Term Investments | 1.61M | 1.69M | 1.52M | 2.23M | 724.29K | 311.17K |
| Total Debt | 35.86M | 31.30M | 25.49M | 30.83M | 23.47M | 3.96M |
| Total Liabilities | 69.16M | 64.00M | 53.42M | 62.74M | 44.28M | 19.90M |
| Stockholders Equity | -18.73M | -15.69M | -8.47M | 2.04M | -40.85K | 6.51M |
Cash Flow | ||||||
| Free Cash Flow | -8.59M | -5.59M | -4.95M | -19.87M | -17.15M | -2.18M |
| Operating Cash Flow | -6.48M | -1.67M | -957.47K | -8.60M | -11.63M | -1.77M |
| Investing Cash Flow | -2.11M | -3.92M | -4.89M | -11.27M | -5.52M | -409.18K |
| Financing Cash Flow | 8.89M | 5.74M | 4.98M | 21.34M | 17.41M | 1.56M |
Cokal Technical Analysis
Positive
0.06
Price Trends
0.05
Positive
0.06
Positive
0.06
Positive
Market Momentum
<0.01
Negative
61.51
Neutral
92.59
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CKA, the sentiment is Positive. The current price of 0.06 is above the 20-day moving average (MA) of 0.06, above the 50-day MA of 0.05, and above the 200-day MA of 0.06, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 61.51 is Neutral, neither overbought nor oversold. The STOCH value of 92.59 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
65 Neutral | AU$5.69B | 9.03 | 11.25% | 1.28% | -13.80% | 268.90% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | AU$2.08B | -30.05 | -2.82% | 4.10% | -19.76% | -125.65% | |
49 Neutral | AU$116.64M | -1.03 | -41.52% | ― | -6.64% | -2196.77% | |
47 Neutral | AU$62.58M | -10.45 | 24.37% | ― | 10.16% | 60.40% | |
37 Underperform | AU$285.00M | -0.30 | -98.22% | ― | -14.94% | -255.82% |
* Basic Materials Sector Average
AU:CKA
Cokal
0.07
0.03
100.00%
AU:WHC
Whitehaven Coal Limited
7.32
0.38
5.48%
AU:SMR
Stanmore Resources Ltd
2.42
0.14
6.00%
AU:TER
TerraCom Limited
0.06
>-0.01
-4.48%
AU:CRN
Coronado Global Resources Inc. Shs Chess Depository Interests Repr 10 Sh
0.18
-0.08
-30.77%
Cokal Corporate Events
Cokal Restarts BBM Mining, Ships Coal to China and Seeks Higher 2026 Output
Jul 13, 2026
Cokal has provided an operational update on its Bumi Barito Mineral project in Central Kalimantan, highlighting progress across sales, mining, and infrastructure. The company continues to advance its strategy to become a significant metallurgical ...
Cokal Secures RKAB Approval and Targets Late-June Coking Coal Shipment
Jun 9, 2026
Cokal Limited has secured approval for its RKAB work and budget plan for the current operational period at its Bumi Barito Mineral project in Central Kalimantan, ensuring regulatory continuity for near-term mining activities. The company plans to ...
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...
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.