Hazer Group Ltd. (AU:HZR)
ASX:HZR
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Hazer Group Ltd.
(Sydney:HZR)
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Rating:46Neutral
Price Target:
AU$0.34
▼(-13.33% Downside)
Action:ReiteratedDate:12/13/25
Hazer Group Ltd.'s overall stock score is primarily impacted by its financial performance challenges, including declining revenues and persistent losses. Technical analysis shows mixed momentum, and valuation metrics highlight ongoing profitability issues. The lack of earnings call data and corporate events further limits the assessment.
Positive Factors
Scalable Licensing Business Model
Hazer’s go-to-market of licensing the HAZER Process plus engineering services and selective project participation is capital-light and scalable. Over months, licensing royalties and service fees can generate recurring, high-margin revenue as partners build plants, reducing capital intensity for Hazer.
Negative Factors
Severe Revenue Decline
An -84.87% revenue swing signals weak near-term commercial traction and volatile demand recognition. Persistently low revenue hampers ability to prove repeatable, license-driven cash flows, slows scale-up of installations, and increases reliance on external funding to reach commercial milestones.
Read all positive and negative factors
Positive Factors
Negative Factors
Scalable Licensing Business Model
Hazer’s go-to-market of licensing the HAZER Process plus engineering services and selective project participation is capital-light and scalable. Over months, licensing royalties and service fees can generate recurring, high-margin revenue as partners build plants, reducing capital intensity for Hazer.
Read all positive factors
Hazer Group Ltd. (HZR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$92.99M
Dividend YieldN/A
Average Volume (3M)486.36K
Price to Earnings (P/E)―
Beta (1Y)1.31
Revenue GrowthN/A
EPS Growth64.63%
CountryAU
Employees36
SectorBasic Materials
Sector Strength58
IndustryChemicals
Share Statistics
EPS (TTM)-0.02
Shares Outstanding265,693,080
10 Day Avg. Volume430,232
30 Day Avg. Volume486,362
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)4.97
Price to Sales (P/S)110.92
P/FCF Ratio-10.32
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.70Price Target Upside79.49% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.03
Revenue Forecast (FY)AU$4.50M
Hazer Group Ltd. Business Overview & Revenue Model
Company Description
Hazer Group Limited operates as a clean technology development company in Australia. It focuses on the commercialization of the Hazer Process, a novel low carbon emission hydrogen and graphite production technology. The company enables the convers...
How the Company Makes Money
Hazer Group’s intended revenue model is based on commercialising the HAZER Process through a mix of technology licensing and project-based deployment. In practice, this can include (a) licensing fees and ongoing royalties paid by third parties tha...
Hazer Group Ltd. Earnings Call Summary
Earnings Call Date:Feb 24, 2026
(Q2-2026)
| Next Earnings Date:Sep 02, 2026
Earnings Call Sentiment Positive
The call highlighted multiple material commercial and technical progress points: a solid cash position (> $17M) with reduced burn, an advancing 11-year KBR alliance (paid studies and in‑kind support), the first revenue-generating Hazer–KBR project in the U.K., expanded pipeline and clear traction in steel and graphite markets (POSCO extension, M Resources MOU). Challenges remain around timing/uncertainty in large government-led tenders (Whyalla), longer qualification timelines for high-value graphite markets, and engineering scale-up risks (heat, conversion, product quality). On balance the company presented tangible milestones, partner-backed execution pathways and growing demand indicators that outweigh the operational and timing risks.Positive Updates
Strong liquidity position and reduced cash burn
Cash position > $17.0M at the start of the quarter, bolstered by > $5.5M R&D rebate inflows and ~ $1.0M+ from approved capital raise proceeds; cash burn reduced ~30% quarter-on-quarter and ~40% year-on-year for the comparable quarter.
Negative Updates
Commercial timing and process uncertainty (Whyalla & government-led bids)
Whyalla opportunity is part of a confidential, government-led sale process with limited public disclosure and uncertain timing/outcome; while Hazer is part of M Resources' bid, there is no guarantee of selection and the process may be lengthy.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong liquidity position and reduced cash burn
Cash position > $17.0M at the start of the quarter, bolstered by > $5.5M R&D rebate inflows and ~ $1.0M+ from approved capital raise proceeds; cash burn reduced ~30% quarter-on-quarter and ~40% year-on-year for the comparable quarter.
Read all positive updates
Company Guidance
The call guided that Hazer enters 2026 with a cash position of over A$17m (bolstered by >A$5.5m R&D rebate and ~A$1m from an AGM‑approved capital reallocation), a cash burn reduced ~30% quarter‑on‑quarter and ~40% year‑on‑year, and a stronger pipeline now ~A$51m (equating to ~1.5 million tpa of customer leads, or >1.5% of global H2 demand) with >50 active leads (up from ~45); the KBR alliance (an 11‑year engagement backed by a US$3m contribution and further in‑kind support cited in the call) is delivering a commercial design package built around a ~30,000 tpa base single‑train (scalable toward 50–100k tpa), with the first paid study (Energy Pathways) being a 20,000 tpa, revenue‑generating project; market context provided included an addressable H2 market of ~100m tpa (~US$206bn), current SMR emitting ~10 t CO2 per t H2 and ~920m t CO2 industrywide, sector growth forecasts (ammonia ~3× in ~25 years; steel ~10× to 2050), and graphite commercialisation metrics targeting “drop‑in” markets at ~US$300–700+/t (typical target >US$500/t) with one 50,000 tpa deal modeled to deliver ~US$80–100m in license revenue; management also flagged additional non‑dilutive funding/grants (ARENA ~A$1m expected, Mitsui/WA funds ~A$2m+, Fortis CAD11m support) and large regional funding for Whyalla (federal ~A$1bn+, SA ~A$400m) as important enablers to convert pipeline into licences this year.Hazer Group Ltd. Financial Statement Overview
Summary
Income Statement
35
Negative
Balance Sheet
55
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 631.79K | 614.24K | 3.31M | 2.40M | 1.24M | 2.35M |
| Gross Profit | 522.83K | 614.24K | 3.31M | 2.29M | 1.16M | 2.30M |
| EBITDA | -9.35M | -7.45M | -15.69M | -11.72M | -16.93M | -13.68M |
| Net Income | -6.47M | -7.62M | -19.07M | -12.21M | -16.41M | -11.66M |
Balance Sheet | ||||||
| Total Assets | 16.81M | 17.75M | 18.58M | 12.67M | 27.04M | 26.46M |
| Cash, Cash Equivalents and Short-Term Investments | 14.84M | 12.53M | 12.83M | 9.28M | 18.03M | 24.64M |
| Total Debt | 217.85K | 220.00K | 222.83K | 261.26K | 3.82M | 2.74M |
| Total Liabilities | 3.40M | 4.04M | 5.01M | 8.73M | 14.59M | 13.14M |
| Stockholders Equity | 13.41M | 13.71M | 13.57M | 3.94M | 12.45M | 13.32M |
Cash Flow | ||||||
| Free Cash Flow | -4.29M | -6.60M | -23.31M | -5.77M | -21.30M | -1.48M |
| Operating Cash Flow | -4.02M | -5.15M | -15.82M | -1.28M | -5.24M | 5.11M |
| Investing Cash Flow | -271.93K | -1.45M | -7.50M | -4.50M | -16.06M | -6.60M |
| Financing Cash Flow | 9.81M | 6.31M | 26.86M | -2.98M | 14.69M | 8.89M |
Hazer Group Ltd. Technical Analysis
Negative
0.39
Price Trends
0.40
Negative
0.44
Negative
0.42
Negative
Market Momentum
-0.01
Negative
41.92
Neutral
17.46
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:HZR, the sentiment is Negative. The current price of 0.39 is above the 20-day moving average (MA) of 0.37, below the 50-day MA of 0.40, and below the 200-day MA of 0.42, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 41.92 is Neutral, neither overbought nor oversold. The STOCH value of 17.46 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:HZR.
Hazer Group 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% | |
56 Neutral | AU$218.20M | -301.32 | -2.84% | ― | ― | 42.74% | |
52 Neutral | AU$53.71M | -4.25 | -88.71% | ― | -4.80% | 23.76% | |
47 Neutral | AU$370.03M | -13.41 | -22.74% | ― | ― | -43.08% | |
46 Neutral | AU$92.99M | -6.61 | -47.73% | ― | ― | 64.63% | |
40 Underperform | AU$48.04M | -2.65 | -35.91% | ― | ― | 57.49% |
* Basic Materials Sector Average
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Hazer Group Ltd. Corporate Events
Hazer taps KBR to accelerate FortisBC clean hydrogen project in Canada
Mar 22, 2026
Hazer Group has engaged engineering giant KBR to fast-track development of its proposed 2,500 tonnes per annum clean hydrogen and 9,500 tonnes per annum graphite facility in British Columbia, Canada, being advanced in partnership with FortisBC. KB...
Hazer Group ramps up investor outreach with Energy Exchange Australia presentation
Mar 9, 2026
Hazer Group Ltd will present to investors at the Energy Exchange Australia 2026 conference and other engagements this week, with its latest corporate presentation also available via the announcements section of its website. The outreach underscore...
Hazer Graphite Cleared for Use in Concrete and Asphalt Markets
Mar 2, 2026
Hazer Group has confirmed that its synthetic graphite meets Australian infrastructure specifications and relevant international standards for use as an additive in concrete and asphalt, following extensive independent testing by Boral Labs. The qu...
Hazer posts stronger H1 FY26 as KBR alliance, graphite deals advance commercial push
Feb 24, 2026
Hazer Group Ltd reported a strong first half for FY26, highlighting operational progress and a solid funding position as it advances its clean hydrogen and graphite technology. The company ended the period with $17.2 million in funding, including ...
Hazer Narrows Half-Year Loss as It Takes Full Control of Graphite Subsidiary
Feb 24, 2026
Hazer Group Limited reported a 37% decline in revenue from ordinary activities to $1.47 million for the half-year to 31 December 2025, while narrowing its after-tax loss by 19% to $5.05 million as basic and diluted loss per share improved to 1.93 ...
Hazer Group to Showcase Decarbonisation Technology at Bell Potter Conference
Feb 9, 2026
Hazer Group Ltd said it will present at the Bell Potter Unearthed Conference in Perth this week, showcasing its technology and strategy to an audience of investors and market participants. The company has also made its corporate presentation mater...
Hazer Group Hosts Investor Webinar to Update Market on Decarbonisation Strategy
Jan 27, 2026
Hazer Group Ltd announced it is hosting an investor webinar today, with the presentation materials made available via the company’s website. The session forms part of Hazer’s ongoing engagement with the investment community as it advan...
Hazer Steps Up Commercial Push as KBR Alliance Delivers First Revenue and Steel Deals
Jan 21, 2026
Hazer Group reported a pivotal quarter as it accelerates the shift from technology development to commercial delivery of its methane pyrolysis-based clean hydrogen and graphite process. A strategic alliance with engineering group KBR has moved int...
Hazer Strikes Kemira Collaboration to Test Methane Pyrolysis Tech in Industrial Uses
Jan 14, 2026
Hazer Group has signed a non-binding memorandum of understanding with Finnish chemicals producer Kemira to evaluate the use of Hazer’s methane pyrolysis technology and low-emissions carbon products within Kemira’s global operations. Ov...
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.