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Kalina Power Limited
(Sydney:KPO)
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Rating:51Neutral
Price Target:
AU$0.02
▲(70.00% Upside)
Action:Reiterated
Date:07/10/26
Overall score is held back primarily by very weak financial performance (no revenue, ongoing losses, and negative free cash flow), despite some improvement in FY2025. Technical indicators are moderately positive (price above key moving averages with a positive MACD), and valuation is somewhat supportive via a low P/E, but these are secondary to the fundamental weakness.
Positive Factors
Asset-light licensing model
An IP/licensing model is durable and scalable: by monetising Kalina Cycle intellectual property through licenses, engineering services and royalties the company can expand revenue with limited capital intensity. This reduces fixed-asset deployment risk and supports margin scalability if commercial uptake occurs.
Negative Factors
Zero reported revenue
A multi-year absence of revenue is a major structural weakness: it implies the core licensing/engineering model has yet to generate commercial sales. Without demonstrable revenue streams, profitability and scalable cash generation remain hypothetical, making long-term sustainability contingent on securing paying customers.
Read all positive and negative factors
Positive Factors
Negative Factors
Asset-light licensing model
An IP/licensing model is durable and scalable: by monetising Kalina Cycle intellectual property through licenses, engineering services and royalties the company can expand revenue with limited capital intensity. This reduces fixed-asset deployment risk and supports margin scalability if commercial uptake occurs.
Read all positive factors
Kalina Power Limited (KPO) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$49.86M
Dividend YieldN/A
Average Volume (3M)3.31M
Price to Earnings (P/E)3.3
Beta (1Y)1.45
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
Employees1
SectorUtilities
Sector Strength65
IndustryDiversified Utilities
Share Statistics
EPS (TTM)<0.01
Shares Outstanding2,933,020,800
10 Day Avg. Volume7,103,304
30 Day Avg. Volume3,314,752
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)1.47
Price to Sales (P/S)0.00
P/FCF Ratio-3.37K
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)N/A
Revenue Forecast (FY)N/A
Kalina Power Limited Business Overview & Revenue Model
Company Description
Operating as an energy enterprise, Kalina Power Limited extends its reach across Australia, China, Canada, and the United States. The company primarily generates electricity by utilizing its proprietary Kalina Cycle technology, drawing power from ...
How the Company Makes Money
KPO’s publicly described business model has historically been based on commercialising its Kalina Cycle intellectual property rather than operating as a large-scale owner of power-generation assets. Revenue would therefore be expected to come prim...
Kalina Power Limited Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
44
Neutral
Cash Flow
10
Very Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -2.85K | 0.00 | -9.67K | -11.78K | -9.66K | -6.59K |
| EBITDA | -1.99M | ― | -3.99M | -4.78M | -4.93M | -7.94M |
| Net Income | 17.44M | -4.67K | -4.08M | -4.66M | -4.66M | -7.87M |
Balance Sheet | ||||||
| Total Assets | 18.69M | 1.69M | 461.10K | 875.71K | 5.49M | 1.25M |
| Cash, Cash Equivalents and Short-Term Investments | 18.49M | 1.52M | 255.21K | 706.66K | 5.35M | 1.09M |
| Total Debt | 2.65M | 2.61M | 2.42M | 2.30M | 2.16M | 1.90M |
| Total Liabilities | 4.79M | 5.12M | 3.18M | 3.32M | 2.97M | 2.79M |
| Stockholders Equity | 25.27M | 7.92M | 8.93M | 9.13M | 13.81M | 9.31M |
Cash Flow | ||||||
| Free Cash Flow | 16.97M | -3.47K | -3.87M | -4.64M | -5.03M | -6.40M |
| Operating Cash Flow | 16.97M | -3.46K | -3.86M | -4.64M | -5.02M | -6.39M |
| Investing Cash Flow | 1.10M | 1.11K | 521.00 | 2.46M | -2.42M | -19.07K |
| Financing Cash Flow | 1.32M | 3.62K | 3.41M | 1.88K | 9.30M | 7.06M |
Kalina Power Limited Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
60 Neutral | AU$19.64M | 27.91 | 6.92% | ― | -8.32% | -67.69% | |
55 Neutral | AU$93.02M | -32.14 | -13.64% | ― | 16.99% | ― | |
51 Neutral | AU$49.86M | 3.27 | 105.12% | ― | ― | ― | |
| ― | AU$42.65M | -0.19 | -31.05% | ― | ― | ― | |
48 Neutral | AU$19.12M | -11.67 | -7.75% | ― | ― | 16.28% | |
47 Neutral | AU$43.61M | -3.44 | -108.64% | ― | ― | -63.48% |
* Utilities Sector Average
AU:KPO
Kalina Power Limited
0.02
<0.01
41.67%
AU:CCE
Carnegie Clean Energy Ltd
0.20
0.15
263.64%
AU:JNS
ReNu Energy Limited
0.23
0.07
45.16%
AU:14D
1414 Degrees Ltd.
0.06
0.04
156.00%
AU:VPR
Volt Power Group Ltd
0.12
-0.02
-14.29%
AU:BTE
Botala Energy Ltd.
0.04
-0.03
-37.14%
Kalina Power Limited Corporate Events
Kalina Power Updates Directors’ Securities Holdings in ASX Notice
Jun 10, 2026
Kalina Power Limited has reported changes to the interests of three directors, Tim Horgan, Matt Jenkins, and Malcolm Jacques, in accordance with ASX disclosure requirements. The company disclosed that certain unlisted options previously held by Ex...
Kalina Power Welcomes Alberta–Canada Deal That Eases Emissions Rules for Gas Projects
May 21, 2026
Kalina Power says a new Implementation Agreement between Canada and Alberta will suspend federal Clean Electricity Regulations in the province, giving gas-fired generators flexibility to meet emissions obligations by paying carbon costs rather tha...
Kalina Power Options Lapse, Simplifying Capital Structure
May 6, 2026
Kalina Power Limited has confirmed the lapse of 51,774,875 listed options (ASX code KPOAO), which were due to expire on 5 May 2026 with an exercise price of A$0.02. The options ceased because the conditions attached to their exercise were not met ...
Kalina Power Positions Alberta Projects for Regulatory Shift and AI Data Centre Demand
Apr 29, 2026
Kalina Power has used its March-quarter update to highlight ongoing progress on its Alberta power projects while Canada and Alberta continue to negotiate a unified framework for clean electricity and carbon pricing. Management says its development...
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.