International Graphite Limited (IG6) AI Stock Analysis

• Market Cap: AU$9.31M
• Dividend Yield: N/A
• Average Volume (3M): 1.06M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.48
• Revenue Growth: N/A
• EPS Growth: 47.03%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 198,157,670
• 10 Day Avg. Volume: 2,149,486
• 30 Day Avg. Volume: 1,060,340
• PEG Ratio: 0.08
• Price to Book (P/B): 0.64
• Price to Sales (P/S): 491.41
• P/FCF Ratio: -2.72
• 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: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: AU$0.05 ▼(-25.00% Downside)
• Action: Reiterated Date: 03/19/26
• Date: Action: Reiterated 03/19/26

The score is held back primarily by weak financial performance (pre-profit with ongoing cash burn) and bearish technicals (price below key moving averages with negative MACD). Low leverage provides some balance-sheet support, but valuation signals are limited by negative earnings and no dividend data.

Positive Factors

Low Leverage / Balance Sheet Cushion

A low debt-to-equity ratio (~0.086) gives the company structural financial flexibility during its development stage. This reduces near-term default risk, supports the ability to raise project finance or bridge capital, and preserves optionality while scaling downstream anode production.

Early Commercial Revenue

Transitioning from zero to positive revenue signals initial product-market traction for graphite and battery anode-related outputs. While small, recurrent sales validate commercialization progress, de-risk future scale-up and create a foundation for revenue growth without relying solely on exploration/asset revaluations.

Narrowing Losses and Reduced Cash Outflow

Material reduction in cash burn and narrower net losses indicate operational progress and improving cost discipline. This durable trend lowers near-term funding pressure, lengthens the runway for execution, and increases the chance that incremental financing will be used for growth rather than emergency liquidity.

Negative Factors

Ongoing Cash Burn

Persistently negative operating and free cash flow shows the business still consumes cash to fund operations and capex. Over the medium term this necessitates external funding, which can dilute shareholders and divert management attention to financing instead of scaling production and improving unit economics.

Pre-Profit with Weak Margins

Sizable operating losses and deeply negative margins imply the current cost structure is far ahead of revenue generation. Without structural margin improvement or meaningful revenue scale, sustainable profitability is uncertain and long-term returns on invested capital remain negative.

Very Small Revenue Base / Nascent Commercialization

A nascent revenue base leaves the business exposed to execution and customer concentration risks; commercial scale is unproven. Achieving durable cash generation depends on successful scale-up of graphite anode production and consistent offtake agreements, which remain outstanding risks.

International Graphite Limited Business Overview & Revenue Model

Company Description

International Graphite Limited manufactures and supplies downstream graphite products. It offers high and ultra-high purity micronized graphite and battery anode materials for the lithium-ion battery industry. The company also focuses on the exploration and development of the Springdale Graphite Project consisting of two granted exploration licenses, a prospecting license, and an application for an exploration licence in located in Hopetoun, Western Australia. Further, it is involved in the development of commercial downstream processing facilities in Collie, Western Australia. The company was incorporated in 2018 and is based in North Perth, Australia.

How the Company Makes Money

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International Graphite Limited Financial Statement Overview

Summary

Development-stage profile: revenue only recently turned positive (FY2025 A$18k) and losses remain large despite narrowing. Balance sheet leverage is low (debt-to-equity ~0.086), but operating/free cash flow are still meaningfully negative, implying continued funding reliance until commercialization scales.

Income Statement

The company is still pre-profit with sizable operating losses across the period, but there are early signs of commercialization. Revenue turned positive in FY2025 (A$18k) after effectively zero revenue in prior years, and losses narrowed versus FY2024 (net loss improved to ~A$2.4m from ~A$4.0m). However, profitability remains very weak with deeply negative operating and net margins in FY2025, reflecting a cost base that is far ahead of current revenue.

Balance Sheet

The balance sheet is a relative strength: leverage is low with debt-to-equity around 0.086 in FY2025, and equity remains sizeable (~A$14.0m) versus total debt (~A$1.2m). That said, returns are negative (FY2025 return on equity about -17%), and equity has trended down from FY2024, indicating ongoing losses continue to erode the capital base over time.

Cash Flow

Cash generation remains a key weakness. Operating cash flow is consistently negative (about -A$2.1m in FY2025), and free cash flow is also negative (about -A$3.3m in FY2025), indicating the business is still consuming cash to fund operations and investment. There is improvement versus FY2024 (free cash outflow reduced from ~-A$5.1m), but cash burn remains material and suggests continued reliance on external funding until revenues scale.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	8.70K	18.12K	0.00	0.00	4.26K	0.00
Gross Profit	-247.38K	18.12K	-194.45K	-73.38K	-30.28K	-5.76K
EBITDA	-1.80M	-1.81M	-3.74M	-2.46M	-2.02M	-2.09M
Net Income	-2.70M	-2.42M	-4.02M	-2.53M	-2.06M	-2.09M
Balance Sheet
Total Assets	16.88M	17.47M	19.63M	18.10M	18.77M	1.01M
Cash, Cash Equivalents and Short-Term Investments	1.44M	1.08M	3.33M	2.71M	8.86M	661.15K
Total Debt	1.03M	1.20M	584.65K	95.78K	94.91K	63.53K
Total Liabilities	4.59M	3.47M	3.79M	2.38M	981.39K	251.45K
Stockholders Equity	12.30M	14.00M	15.84M	15.72M	17.79M	754.93K
Cash Flow
Free Cash Flow	-3.99M	-3.28M	-5.15M	-7.83M	-2.31M	-973.86K
Operating Cash Flow	-3.19M	-2.12M	-2.58M	-1.85M	-1.84M	-738.96K
Investing Cash Flow	1.87M	-71.78K	510.46K	-4.32M	-471.83K	-234.91K
Financing Cash Flow	1.30M	-58.79K	2.68M	21.20K	10.50M	1.58M

International Graphite Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.06
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:IG6, the sentiment is Negative. The current price of 0.06 is above the 20-day moving average (MA) of 0.06, below the 50-day MA of 0.06, and below the 200-day MA of 0.06, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 34.50 is Neutral, neither overbought nor oversold. The STOCH value of 40.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:IG6.

International Graphite Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
CBE	53 Neutral	AU$90.09M	-6.42	-5.89%	―	―	37.04%
EVG	48 Neutral	AU$14.44M	-8.00	-23.61%	―	―	-4.35%
IG6	46 Neutral	AU$9.31M	-1.65	-20.54%	―	―	47.03%
OLY	46 Neutral	AU$9.66M	-0.86	-330.25%	―	―	43.46%
TON	44 Neutral	AU$14.12M	-1.07	-13.11%	―	―	―
EV1	42 Neutral	AU$10.49M	-1.84	-19.26%	―	―	71.25%

International Graphite Limited Corporate Events

International Graphite Releases Interim Half-Year Financial Report

International Graphite Ltd has released its interim financial report for the half year ended 31 December 2025, outlining its corporate structure and governance arrangements. The report highlights the company’s board and management changes, including the resignation of a non-executive director, and reaffirms its presence on both the Australian and Frankfurt exchanges, signalling continued compliance and transparency for investors.

The publication of the interim financial report supports ongoing disclosure obligations and provides stakeholders with updated insights into International Graphite’s organisational framework. While detailed financial performance is not included in the provided extract, the formal release underscores the company’s commitment to governance standards and investor communication across its dual listings.

The most recent analyst rating on (AU:IG6) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on International Graphite Limited stock, see the AU:IG6 Stock Forecast page.

International Graphite Showcases Critical Minerals Strategy at PDAC 2026

International Graphite Limited has released a new investor presentation as it attends the 2026 PDAC convention in Toronto, where it is positioning its graphite projects as important contributors to global critical minerals supply. By engaging a range of qualified investors at one of the industry’s key forums, the company is seeking to elevate its profile, attract capital, and reinforce its strategy to develop a vertically integrated, mine‑to‑market graphite production platform, potentially strengthening its competitiveness amid rising demand for graphite in clean energy and advanced manufacturing.

The announcement, authorised by Company Secretary and CFO Robert Hodby, underscores International Graphite’s intent to showcase its role within the global graphite supply chain and highlight the strategic value of its projects. This outreach at PDAC is likely aimed at accelerating project funding and development timelines while signalling to stakeholders that International Graphite is actively pursuing growth opportunities within the critical minerals ecosystem.

The most recent analyst rating on (AU:IG6) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on International Graphite Limited stock, see the AU:IG6 Stock Forecast page.

International Graphite Issues New Shares Under Pioneer Investment Agreement

International Graphite Ltd has issued and allotted 1,388,889 fully paid ordinary shares under its Investment Agreement with Pioneer Resources LLC, originally announced in October 2025. The company confirmed the new shares were issued without a prospectus under the Corporations Act’s exemption provisions, stated it is fully compliant with its financial reporting and continuous disclosure obligations, and declared there is no excluded information requiring disclosure, with an application lodged to have the new securities quoted on the ASX, signalling a routine capital management step that supports its funding arrangements without altering existing disclosure expectations for investors.

The most recent analyst rating on (AU:IG6) stock is a Sell with a A$0.07 price target. To see the full list of analyst forecasts on International Graphite Limited stock, see the AU:IG6 Stock Forecast page.

International Graphite Lists Additional 1.39 Million Shares on ASX

International Graphite Limited, listed on the ASX under the ticker IG6, has announced the quotation of an additional 1,388,889 ordinary fully paid shares on 2 February 2026, expanding its listed capital base. The new securities, issued as part of previously disclosed transactions, underscore the company’s ongoing use of equity markets to support its corporate and funding activities, with potential implications for existing shareholders through a modest dilution and increased liquidity in the stock.

The most recent analyst rating on (AU:IG6) stock is a Sell with a A$0.07 price target. To see the full list of analyst forecasts on International Graphite Limited stock, see the AU:IG6 Stock Forecast page.

International Graphite Accelerates Global Processing Strategy with New Facilities, Partnerships and Funding

International Graphite has reported progress across multiple projects as it advances its strategy to establish a global graphite processing business capable of producing more than 10,000 tonnes per year of finished materials by 2027. The company has secured development approval and land for its Collie Micronising Facility in Western Australia, advanced its European expandable graphite project through a processing IP and technology agreement and positive techno-economic evaluation, and entered a letter of intent with Italian chemical producer ALKEEMIA for toll purification services to deliver 99%+ graphite products. Pilot-scale carbon coating trials for battery anode development have commenced with CarboPhite at the University of Melbourne, while up to $3 million in working capital has been secured and graphite industry specialist Aidan Nania has been appointed as an executive director, collectively strengthening the company’s operational capabilities, financial position and role in diversifying global graphite supply outside China.

The most recent analyst rating on (AU:IG6) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on International Graphite Limited stock, see the AU:IG6 Stock Forecast page.

International Graphite Appoints New Director Linked to German Processing JV

International Graphite Ltd has appointed Aidan Nania as a director effective 13 January 2026, and lodged an initial director’s interest notice confirming he currently holds no direct shareholding in the company. Nania is a director and shareholder of Arctic Graphite AS and Graphite Investment Partners LLC (GIP), which have a co‑operation agreement with International Graphite to develop an expandable graphite processing facility in Germany; under this agreement, if the parties proceed with an incorporated joint venture and GIP delivers key project milestones including permits, supply and offtake contracts, and non‑dilutive funding for at least half of the capital cost, International Graphite has agreed, subject to shareholder approval, to issue GIP shares equal to a 12.5% stake in the company, potentially diluting existing shareholders but strengthening its project development and funding platform in Europe.

The most recent analyst rating on (AU:IG6) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on International Graphite Limited stock, see the AU:IG6 Stock Forecast page.

International Graphite Strengthens Board with Appointment of Graphite Industry Veteran Aidan Nania

International Graphite Limited has appointed graphite industry specialist and financier Aidan Nania as an Executive Director, strengthening its board with expertise that spans the graphite supply chain from exploration and mining to downstream, value-added production. Nania, a founder and director of Arctic Graphite AS and former director and major shareholder of Skaland Graphite AS, has been closely involved in securing processing technology rights for the company’s European expandable graphite project and in arranging a purification toll-treatment agreement in principle with Italian chemical firm Alkeemia. His appointment is intended to support International Graphite’s transition from project development into downstream production and international growth, underpinning its strategy to build a scalable, capital-efficient graphite processing platform in Europe and enhance long-term value creation for shareholders.

The most recent analyst rating on (AU:IG6) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on International Graphite Limited stock, see the AU:IG6 Stock Forecast page.