Calix Ltd. (AU:CXL)
ASX:CXL
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Calix Ltd.
(Sydney:CXL)
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Rating:44Neutral
Price Target:
AU$0.72
▼(-4.27% Downside)
Action:ReiteratedDate:04/03/26
The score is primarily held back by weak financial quality (losses, negative margins, and negative operating cash flow) despite modest revenue growth and a low-leverage balance sheet. Technical signals are also soft with price below key moving averages and a negative MACD. Valuation is constrained by negative earnings (negative P/E) and no indicated dividend yield.
Positive Factors
Low leverage / conservative balance sheet
A very low debt-to-equity ratio gives Calix durable financial flexibility, lowering default and interest-rate sensitivity. That conservatism supports continued investment in product development and network deployments over the next 2–6 months without needing immediate external financing.
Negative Factors
Sustained unprofitability
Persistent negative net profit and EBIT margins mean core operations are not yet generating operating earnings. Over 2–6 months this limits internal reinvestment capacity and requires management to materially improve margins or rely on financing to sustain growth initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / conservative balance sheet
A very low debt-to-equity ratio gives Calix durable financial flexibility, lowering default and interest-rate sensitivity. That conservatism supports continued investment in product development and network deployments over the next 2–6 months without needing immediate external financing.
Read all positive factors
Calix Ltd. (CXL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$168.26M
Dividend YieldN/A
Average Volume (3M)280.66K
Price to Earnings (P/E)―
Beta (1Y)2.39
Revenue Growth16.47%
EPS Growth29.53%
CountryAU
Employees155
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)-0.20
Shares Outstanding215,712,420
10 Day Avg. Volume411,562
30 Day Avg. Volume280,656
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)0.77
Price to Sales (P/S)2.45
P/FCF Ratio-1.71
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$2.05Price Target Upside173.33% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.09
Revenue Forecast (FY)AU$38.43M
Calix Ltd. Business Overview & Revenue Model
Company Description
Calix Limited provides industrial solutions to address global sustainability challenges in Australia, Europe, the United States, and South East Asia. Its solutions include ACTI-Mag for biogas and wastewater; AQUA-Cal+, a water conditioner for shri...
How the Company Makes Money
Calix makes money primarily by selling broadband network infrastructure products and associated software to communications service providers. Key revenue streams generally include: (1) Product revenue from access network hardware (e.g., fiber and ...
Calix Ltd. Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
55
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 30.98M | 27.74M | 24.19M | 18.60M | 18.47M | 19.21M |
| Gross Profit | 2.22M | 10.22M | 10.29M | -2.40M | 1.01M | 1.86M |
| EBITDA | -11.27M | -11.24M | -19.52M | -25.03M | -12.69M | -5.81M |
| Net Income | -49.49M | -19.17M | -25.26M | -23.19M | -16.34M | -9.11M |
Balance Sheet | ||||||
| Total Assets | 72.23M | 110.38M | 112.40M | 127.51M | 61.21M | 51.62M |
| Cash, Cash Equivalents and Short-Term Investments | 11.80M | 22.98M | 42.96M | 74.47M | 24.98M | 15.13M |
| Total Debt | 5.30M | 2.63M | 3.26M | 1.32M | 1.47M | 1.29M |
| Total Liabilities | 26.33M | 22.83M | 28.39M | 22.55M | 16.41M | 13.48M |
| Stockholders Equity | 47.01M | 88.29M | 83.79M | 103.73M | 43.49M | 38.15M |
Cash Flow | ||||||
| Free Cash Flow | -26.22M | -39.59M | -33.13M | -30.29M | -12.76M | -15.06M |
| Operating Cash Flow | -16.91M | -28.67M | -13.68M | -17.26M | -3.74M | -8.12M |
| Investing Cash Flow | -10.53M | -10.64M | -17.55M | -13.03M | 13.83M | -6.94M |
| Financing Cash Flow | 3.41M | 19.33M | -280.00K | 79.77M | -232.33K | 19.11M |
Calix Ltd. Technical Analysis
Neutral
0.75
Price Trends
1.04
Negative
0.93
Negative
0.68
Positive
Market Momentum
-0.09
Negative
48.97
Neutral
91.40
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CXL, the sentiment is Neutral. The current price of 0.75 is above the 20-day moving average (MA) of 0.65, below the 50-day MA of 1.04, and above the 200-day MA of 0.68, indicating a neutral trend. The MACD of -0.09 indicates Negative momentum. The RSI at 48.97 is Neutral, neither overbought nor oversold. The STOCH value of 91.40 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:CXL.
Calix Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
55 Neutral | AU$27.77M | -2.95 | -97.12% | ― | ― | 52.66% | |
55 Neutral | AU$34.23M | -2.92 | -82.31% | ― | 7.08% | 33.70% | |
50 Neutral | AU$36.12M | -10.44 | -6.05% | ― | -5.37% | -140.00% | |
44 Neutral | AU$168.26M | -1.24 | -73.16% | ― | 16.47% | 29.53% | |
44 Neutral | AU$21.89M | -1.13 | 242.65% | ― | -32.85% | 28.00% | |
43 Neutral | AU$22.18M | -1.69 | 483.00% | ― | 340.27% | 19.44% |
* Basic Materials Sector Average
AU:CXL
Calix Ltd.
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Calix Ltd. Corporate Events
Calix Showcases Decarbonisation Technology at ASX SMIDcaps Conference
Mar 24, 2026
Calix Limited announced it has shared its presentation from the ASX SMIDcaps Conference held in Sydney on 25 March 2026. The presentation highlights Calix’s role in industrial electrification and decarbonisation as it develops multiple busin...
Green360 Strikes Calix Deal to Fast‑Track Eco‑Clay Commercialisation
Mar 22, 2026
Green360 Technologies has signed a binding toll treatment agreement with Calix Limited for the commercial manufacture of its Eco‑Clay, a low‑carbon cement replacement product based on high‑reactivity metakaolin. The deal gives Gr...
Calix Triggers A$2m ARENA Payment After Hitting First Zesty Green Iron Milestone
Mar 15, 2026
Calix has completed the first milestone under its ARENA grant for the Zesty Green Iron Demonstration Project, triggering an initial A$2m payment. This follows a A$3m payment from Rio Tinto in December 2025 and is part of a broader funding framewor...
Calix Withdraws Erroneous Appendix 3G on Unquoted Securities
Mar 11, 2026
Calix Limited has clarified that a previous Appendix 3G filing to the ASX regarding the issue or conversion of unquoted securities was released in error. The company has now formally lodged a cancellation notice, effectively withdrawing the earlie...
Calix Issues 135,404 New Shares Following Option Conversions
Mar 10, 2026
Calix Limited has issued 135,404 new ordinary fully paid shares following the exercise or conversion of previously unquoted options or other convertible securities. The issuance, effective 10 March 2026, modestly increases the company’s equi...
Resources-Focused Rebalance Reshapes S&P/ASX Indices for March 2026
Mar 6, 2026
SP Dow Jones Indices has announced the March 2026 quarterly rebalance of the SP/ASX indices, reshuffling constituents across the SP/ASX 20, 50, 100, 200, and 300. The moves elevate several resources and energy-transition related companies, while r...
Calix lifts revenue and secures key decarbonisation partnerships in 1H FY26
Feb 23, 2026
Calix reported a 21% rise in first-half FY26 product and services revenue to $16.3m, driven mainly by a 48% jump in magnesia sales, which helped lift gross margin to 40% and gross profit by 37%. The company sharply reduced operating cash outflows ...
Calix to Unveil Half-Year FY26 Results in Investor Webinar
Feb 9, 2026
Calix Limited will release its half-year financial results for the period ended 31 December 2025 on 24 February 2026 and will host an investor webinar the same day, led by Managing Director and CEO Phil Hodgson and CFO Darren Charles, to discuss t...
Calix Deepens Decarbonisation Push with Rio Tinto and Norsk Hydro Partnerships
Feb 4, 2026
Calix has entered 2026 by securing a Joint Development Agreement with Rio Tinto, positioning one of the world’s largest iron ore producers as a strategic partner for its Zesty green iron technology, with Rio Tinto set to contribute more than...
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.