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Findi
(Sydney:FND)
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Rating:41Neutral
Price Target:
AU$0.39
▼(-63.83% Downside)
Action:Upgraded
Date:06/02/26
The score is primarily held down by weak financial performance (losses, rising leverage, and negative operating/free cash flow). Technicals also point to a continuing downtrend (price below key moving averages and negative MACD). Valuation offers limited offset because the company is loss-making with no dividend yield provided.
Positive Factors
Transaction-based revenue model
A fee-and-commission model tied to transactions creates recurring, volume-driven revenue with low incremental costs per transaction. This structure is durable: as payment volumes recover or grow, revenue can scale proportionally without equivalent fixed-cost increases, supporting long-term cash generation potential.
Negative Factors
Deteriorating profitability
A deep negative net margin signals the business is not yet converting scale into sustainable profits. Persistent large losses erode retained capital, constrain reinvestment in the network, and make it harder to demonstrate unit economics, raising the risk the model cannot sustain operations without structural cost or pricing changes.
Read all positive and negative factors
Positive Factors
Negative Factors
Transaction-based revenue model
A fee-and-commission model tied to transactions creates recurring, volume-driven revenue with low incremental costs per transaction. This structure is durable: as payment volumes recover or grow, revenue can scale proportionally without equivalent fixed-cost increases, supporting long-term cash generation potential.
Read all positive factors
Findi (FND) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$40.49M
Dividend YieldN/A
Average Volume (3M)228.41K
Price to Earnings (P/E)―
Beta (1Y)0.80
Revenue Growth35.91%
EPS Growth-299.12%
CountryAU
Employees1,157
SectorTechnology
Sector Strength88
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)-0.82
Shares Outstanding99,969,120
10 Day Avg. Volume442,254
30 Day Avg. Volume228,407
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.53
Price to Sales (P/S)0.45
P/FCF Ratio-0.74
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)-0.27
Revenue Forecast (FY)AU$174.89M
Findi Business Overview & Revenue Model
Company Description
Findi Limited, through its subsidiaries, engages in the development of digital payment systems in India. The company offers end-to-end transaction processing and managed services. It also provides payments and digital banking solutions through its...
How the Company Makes Money
Findi primarily makes money by monetizing transactions conducted across its cash access and payments network. Key revenue streams typically include fees and commissions linked to ATM usage (e.g., interchange/transaction fees for cash withdrawals a...
Findi Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
24
Negative
Cash Flow
22
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 82.98M | 61.06M | 62.84M | 52.13M | 4.57M |
| Gross Profit | 0.00 | 9.56M | 12.07M | 10.11M | -149.00K |
| EBITDA | -3.86M | 31.42M | 27.50M | 18.19M | -10.00K |
| Net Income | -44.16M | -12.48M | 4.01M | 2.44M | -1.52M |
Balance Sheet | |||||
| Total Assets | 280.69M | 323.47M | 198.37M | 107.68M | 59.72M |
| Cash, Cash Equivalents and Short-Term Investments | 38.20M | 82.92M | 70.32M | 25.89M | 23.22M |
| Total Debt | 154.61M | 149.66M | 134.74M | 63.33M | 22.26M |
| Total Liabilities | 256.05M | 258.95M | 161.50M | 86.38M | 45.66M |
| Stockholders Equity | 24.64M | 64.52M | 36.52M | 21.64M | 14.83M |
Cash Flow | |||||
| Free Cash Flow | -50.60M | 140.00K | 20.05M | -27.52M | -2.24M |
| Operating Cash Flow | -22.01M | 17.50M | 26.69M | 4.67M | -2.19M |
| Investing Cash Flow | -42.85M | -18.10M | -48.28M | -28.73M | -8.40M |
| Financing Cash Flow | 28.67M | 16.53M | 49.48M | 41.13M | -11.39M |
Findi Technical Analysis
Negative
1.07
Price Trends
0.51
Negative
0.67
Negative
1.21
Negative
Market Momentum
-0.03
Negative
33.32
Neutral
<0.01
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:FND, the sentiment is Negative. The current price of 1.07 is above the 20-day moving average (MA) of 0.41, above the 50-day MA of 0.51, and below the 200-day MA of 1.21, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 33.32 is Neutral, neither overbought nor oversold. The STOCH value of <0.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:FND.
Findi Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | AU$427.62M | 16.98 | 10.65% | ― | -0.38% | -18.37% | |
67 Neutral | AU$66.48M | 7.89 | 19.44% | ― | 17.41% | 78.27% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
52 Neutral | AU$26.46M | 0.78 | 350.35% | ― | 4.71% | ― | |
44 Neutral | AU$38.70M | -5.21 | -7.23% | ― | 21.24% | 16.33% | |
42 Neutral | AU$15.66M | -1.57 | -583.51% | ― | 41.38% | 49.33% | |
41 Neutral | AU$40.49M | -0.49 | -115.99% | ― | 35.91% | -299.12% |
* Technology Sector Average
AU:FND
Findi
0.41
-3.39
-89.34%
AU:DCC
DigitalX Limited
0.03
-0.10
-79.17%
AU:QFE
QuickFee Ltd.
0.07
0.05
331.25%
AU:B4P
Beforepay Group Limited
1.30
-0.46
-26.14%
AU:W2V
WAY 2 VAT LTD
0.06
-0.04
-40.00%
AU:TYR
Tyro Payments Ltd.
0.82
-0.08
-8.94%
Findi Corporate Events
Findi Seeks Voluntary Suspension as Strategic Review Delays Accounts
Jun 21, 2026
Findi Limited has requested and received a voluntary suspension of trading in its securities on the ASX, effective 22 June 2026, under Listing Rule 17.2. The suspension was sought because the company does not expect to finalise and lodge its audit...
Findi Reshapes Board and Launches Strategic Review to Advance Indian Growth Plans
Jun 4, 2026
Findi Limited has announced an orderly board transition, appointing current Non-Executive Director Stephen Benton as Non-Executive Chairman while he also joins the board of Transaction Solutions International, and moving Nicholas Smedley to a Non-...
Findi reshapes governance team with new joint company secretaries
Jun 3, 2026
Findi Limited has announced changes to its corporate governance team, with the resignation of joint company secretaries Charly Duffy and Shelby Coleman and the appointment of Sam Wright and Thomas May as their successors. Wright, a seasoned advise...
Findi lifts revenue 36% but books heavy loss amid India integration and capital delays
May 29, 2026
Findi Limited reported preliminary unaudited revenue of $83.0 million for the year ended 31 March 2026, a 36% increase over the prior year, while delivering $7.5 million in underlying EBITDA but a statutory net loss attributable to members of $52....
Findi names new director and discloses related shareholding
May 28, 2026
Findi Limited has appointed Andrew Grover as a director effective 21 May 2026, formalising his role on the company’s board under ASX listing rule disclosure requirements. The company reported that Grover holds no shares in his own name at th...
Findi strengthens board with ASX tech leader Andrew Grover
May 21, 2026
Findi Limited has appointed Andrew Grover as an independent non-executive director, adding more than 25 years of experience in founding, scaling and governing high-growth technology companies. Grover, who is executive chairman of AI-driven cardiac...
Findi director Nicholas Smedley lifts stake through placement and option grants
May 8, 2026
Findi Limited has disclosed a change in the indirect interests of director Nicholas Smedley, who has increased his holdings through More Capital Holdings Pty Ltd following share and option issuances. Smedley acquired 720,000 fully paid ordinary sh...
Findi Issues Cleansing Prospectus to Lift Trading Restrictions on New Shares
May 1, 2026
Findi Limited has issued a cleansing prospectus for a small offer of 1,000 shares at A$0.70 each, scheduled to close on 15 May 2026, aimed at facilitating the on-market trading of its securities. The company characterises the securities as specula...
Findi Seeks ASX Quotation for 22 Million Newly Issued Shares
May 1, 2026
Findi Limited has applied for quotation on the ASX of 22,045,995 ordinary fully paid shares under the ticker FND, with an issue date of May 1, 2026. The application, lodged as a new announcement, formalizes the move to have these already issued se...
Findi Shareholders Back All Resolutions at Extraordinary General Meeting
Apr 20, 2026
Findi Limited reported that all resolutions put to shareholders at its extraordinary general meeting on 20 April 2026 were passed by poll. Investors approved the ratification and issuance of various options and placement shares, including tranches...
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.