First Graphene Ltd (FGR) AI Stock Analysis

• Market Cap: $29.95M
• Dividend Yield: N/A
• Average Volume (3M): 773.22K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.36
• Revenue Growth: -64.97%
• EPS Growth: 9.89%
• Country: AU
• Employees: 195
• Sector: Basic Materials
• Sector Strength: 72
• Industry: Chemicals
• EPS (TTM): >-0.01
• Shares Outstanding: 748,820,560
• 10 Day Avg. Volume: 1,262,577
• 30 Day Avg. Volume: 773,221
• PEG Ratio: -0.18
• Price to Book (P/B): 5.62
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -6.38
• 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: Moderate Sell
• Number of Analyst Covering: 0

• Rating: 46 Neutral
• Price Target: AU$0.00 ▼(-100.00%Downside)

The overall score of 46 reflects significant financial challenges, including negative profitability and cash flow, which heavily impact the company's outlook. Although recent technical indicators show bullish momentum, the valuation remains unattractive with a negative P/E ratio. Improvements in financial performance and operational efficiencies are essential for a positive reevaluation.

First Graphene Ltd Business Overview & Revenue Model

Company Description

First Graphene Limited engages in the research, development, mining, exploration, manufacture, and sale of graphene products in Australia. It operates through Graphene Production, Research and Development, and Mining Asset Maintenance segments. The company offers MB-LDPE graphene enhanced masterbatch, MB-EVA graphene enhanced masterbatch, MB-EVA bitumen graphene enhanced masterbatch, aqua pre-dispersed graphene additives, and nanoplatelet additives under the PureGRAPH brand. The company also develops and sells VFD, TTF, and other 2D devices and materials. Its products are used in the coating and inks, composite, elastomer, fire retardancy, concrete, textile, and energy storage applications. First Graphene Limited is headquartered in Henderson, Australia.

How the Company Makes Money

First Graphene Ltd generates revenue through the sale of its graphene products to various industrial sectors. The company manufactures and supplies bulk graphene materials, which are used to improve the properties of products in sectors such as construction, textiles, plastics, and energy storage. First Graphene Ltd has established strategic partnerships and collaborations with research institutions and industrial clients to enhance the adoption of its graphene technologies. Revenue is primarily derived from product sales, but the company may also engage in licensing its proprietary technology and processes to other manufacturers. The company's focus on innovation and quality ensures it maintains a competitive edge in the growing market for advanced materials.

First Graphene Ltd Financial Statement Overview

Summary

First Graphene Ltd faces significant challenges with profitability and cash flow, as evidenced by negative margins and cash flows. While the balance sheet shows a manageable debt level, the company needs to address its operational inefficiencies and improve revenue generation to enhance financial stability.

Income Statement

First Graphene Ltd has shown a consistent struggle with profitability, evidenced by negative net income over recent years. The net profit margin remains negative, and revenue has declined by 51.0% in the last year. Gross profit margins are also low, indicating challenges in managing production costs relative to sales.

Balance Sheet

The company's balance sheet reflects a moderate debt-to-equity ratio of 0.65, suggesting a balanced approach to leverage. However, the return on equity is negative due to sustained losses, and the equity ratio of 57.1% is relatively stable, showing a strong equity buffer relative to assets.

Cash Flow

First Graphene Ltd's cash flow statement indicates consistent negative free cash flow, highlighting issues in generating cash from operations. The operating cash flow to net income ratio is negative, exacerbating concerns over cash generation. However, the company has managed some cash inflows from financing activities.

Breakdown	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020
Income Statement
Total Revenue	492.00K	1.00M	723.32K	341.87K	289.77K
Gross Profit	100.74K	-400.00K	110.05K	-18.59K	-175.00K
EBITDA	-4.19M	-4.45M	-4.51M	-6.13M	-5.07M
Net Income	-5.75M	-5.42M	-5.02M	-6.30M	-5.24M
Balance Sheet
Total Assets	9.64M	11.71M	15.42M	15.99M	14.11M
Cash, Cash Equivalents and Short-Term Investments	3.16M	3.23M	7.00M	7.08M	8.05M
Total Debt	3.55M	4.15M	6.31M	5.29M	225.79K
Total Liabilities	4.04M	4.86M	7.04M	6.77M	1.86M
Stockholders Equity	5.50M	6.66M	8.19M	9.05M	12.13M
Cash Flow
Free Cash Flow	-2.87M	-3.54M	-4.49M	-8.62M	-5.91M
Operating Cash Flow	-2.82M	-3.40M	-4.40M	-7.07M	-4.74M
Investing Cash Flow	-52.48K	-139.80K	-90.58K	-1.52M	-1.31M
Financing Cash Flow	2.81M	-236.67K	4.42M	7.62M	10.43M

First Graphene Ltd Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.04
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:FGR, the sentiment is Positive. The current price of 0.04 is above the 20-day moving average (MA) of 0.03, above the 50-day MA of 0.03, and above the 200-day MA of 0.04, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 78.65 is Negative, neither overbought nor oversold. The STOCH value of 79.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:FGR.

First Graphene Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	59 Neutral	HK$17.51B	4.74	-5.52%	3.31%	-3.57%	-61.41%
HZR	54 Neutral	AU$98.16M	―	-182.18%	―	―	45.43%
SPN	50 Neutral	AU$18.13M	―	-113.38%	―	―	44.09%
CG1	50 Neutral	AU$28.47M	―	-73.56%	―	-6.15%	-12.45%
FGR	46 Neutral	$29.95M	―	-96.97%	―	-64.97%	9.89%
VRC	33 Underperform	AU$23.42M	―	-16.04%	―	―	69.23%
LMG	32 Underperform	AU$42.11M	―	-0.86%	―	―	97.62%

First Graphene Ltd Corporate Events

First Graphene Expands Market Presence with New Securities Quotation

First Graphene Limited has announced the quotation of 7,000 new ordinary fully paid securities on the Australian Securities Exchange (ASX) as of July 16, 2025. This move is part of the company’s strategy to leverage financial instruments to support its growth and operational objectives, potentially impacting its market presence and offering new opportunities for investors.

First Graphene Expands Hydrogen and Aerospace Ventures

First Graphene Limited is advancing its role in the A$3.72 million HyPStore project, aimed at developing lightweight cryogenic tanks for liquid hydrogen storage. The company is testing graphene-enhanced resin systems to improve tank impermeability, potentially reducing hydrogen permeability by up to 48 times. Additionally, First Graphene is collaborating with Imperial College London and University College London on a project to upscale chemically modified graphene for 3D printing of metals, supported by a A$1.2 million grant from Innovate UK. These initiatives are expected to enhance the company’s commercial pathways and industry positioning in hydrogen storage and aerospace applications.

First Graphene Secures Significant PureGRAPH® Orders, Boosting Market Position

First Graphene Ltd has announced two significant orders for its PureGRAPH® products, valued at approximately A$165,000, to be realized across FY25 and FY26. These orders signify a growing demand for graphene materials in emerging markets, aligning with the company’s sales pipeline growth expectations and commercialisation strategy. The orders highlight the increasing recognition of PureGRAPH® for its exceptional material performance enhancements, marking a positive step in the company’s industry positioning and operational growth.

First Graphene Ltd Announces Director’s Interest Change

First Graphene Ltd has announced a change in the director’s interest notice, specifically concerning Dr. Andrew James Goodwin. The change involves the lapse of 68,829 performance rights due to unmet conditions, resulting in an updated holding of 381,171 performance rights. This adjustment reflects the company’s ongoing management of its securities and may impact stakeholders’ perceptions of its governance and strategic direction.

First Graphene Ltd Announces Director’s Interest Change

First Graphene Ltd announced a change in the director’s interest notice, specifically regarding Warwick Robert Grigor’s indirect interests in the company. The announcement details the lapse of 137,659 performance rights due to unmet conditions, impacting the director’s holdings in the company. This change reflects adjustments in the company’s securities distribution, potentially influencing stakeholder perceptions and the company’s market positioning.

First Graphene Limited Announces Cessation of Performance Rights

First Graphene Limited announced the cessation of 42,741 performance rights due to unmet conditions, impacting its issued capital. This development may affect the company’s operational strategies and stakeholder interests as it navigates the challenges of meeting performance benchmarks in the competitive graphene market.

First Graphene Ltd Announces Cessation of Securities

First Graphene Ltd announced the cessation of 242,225 performance rights due to unmet conditions, effective November 25, 2024. This development may impact the company’s capital structure and reflects on the challenges in meeting performance targets, potentially affecting investor confidence and market perception.

First Graphene Ltd Announces Successful General Meeting Outcomes

First Graphene Limited announced the successful outcomes of its General Meeting held on June 18, 2025, where resolutions regarding the ratification of prior issues and grants were carried. This development reflects the company’s ongoing efforts to strengthen its operational framework and enhance shareholder value, reinforcing its position in the advanced materials industry.

First Graphene Ltd Appoints New External Auditor

First Graphene Limited has appointed PKF Perth as its new external auditor, effective from June 3, 2025, following the resignation of BDO Audit Pty Ltd. This change comes after a competitive tender process, and a resolution to ratify the appointment will be proposed at the company’s 2025 Annual General Meeting. The transition to PKF Perth is part of First Graphene’s ongoing efforts to enhance its corporate governance and operational efficiency, potentially impacting its industry positioning positively by ensuring rigorous financial oversight.

First Graphene Ltd Reports Concentrated Ownership in Latest Holdings Update

First Graphene Ltd has released a holdings range report for its listed options, indicating a significant concentration of ownership among larger stakeholders. The report shows that a majority of the issued share capital is held by a small number of investors, which could impact the company’s market dynamics and influence strategic decisions.

First Graphene Ltd Reveals Top Holders in Latest Report

First Graphene Ltd has released its top holders report, highlighting the distribution of its listed options. The report indicates that BNP Paribas Nominees Pty Ltd holds the largest share at 23.11%, followed by Time Valuations Pty Ltd and Debt Management Asia Corporation. This distribution of holdings reflects the company’s shareholder landscape and may influence future strategic decisions and investor relations.

First Graphene Concludes Entitlement Shortfall Offer with New Options

First Graphene Limited announced the closure of its Non-Renounceable Entitlement Shortfall Offer, receiving applications for 4,750,000 New Options, raising an additional $23,750. This development is part of the company’s strategy to place the remaining shortfall of New Options, which supports its ongoing operations and market positioning in the advanced materials industry.

First Graphene Limited Announces Quotation of New Securities

First Graphene Limited has announced the quotation of 50,000 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of May 20, 2025. This move is part of the company’s ongoing efforts to enhance its market presence and provide additional value to its stakeholders, potentially impacting its operational capabilities and industry positioning positively.

First Graphene Secures Deal for Graphene-Enhanced Safety Boots in Southeast Asia

First Graphene Limited has entered into a multi-year agreement with Indonesian manufacturer PT Alasmas Berkat Utama to supply PureGRAPH® for the production of graphene-enhanced safety boots under the KRUSHERS® brand. This exclusive deal, aimed at the Southeast Asia mining industry, involves the supply of approximately 2.5 tonnes of PureGRAPH® 10 masterbatch over two years, enhancing the durability and lifespan of safety footwear. The collaboration with PT Alasmas Berkat Utama and strategic partner Duromer highlights First Graphene’s expanding influence in the global apparel market, driven by increased demand for durable safety wear. The agreement is expected to bolster First Graphene’s industry positioning by showcasing the benefits of graphene in improving workwear resilience in harsh conditions.