Kalina Power Limited (AU:KPO)
ASX:KPO
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Kalina Power Limited
(Sydney:KPO)
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Select Model
Rating:44Neutral
Price Target:
AU$0.01
▲(20.00% Upside)
Action:ReiteratedDate:04/08/26
The score is held down primarily by very weak financial performance (no reported revenue, recurring losses, and multi-year negative free cash flow), despite some improvement in FY2025 cash burn and losses. Technicals are also soft with price below key moving averages and negative MACD, while valuation looks optically low on P/E but is less meaningful given the weak underlying fundamentals.
Positive Factors
Moderate leverage
Moderate debt-to-equity (0.16–0.33) reduces near-term balance-sheet stress and preserves financial flexibility. Over a 2–6 month horizon this structural capital conservatism lowers default risk and gives management room to fund commercialization efforts or raise incremental capital with less dilution pressure.
Negative Factors
No reported revenue
Zero reported revenue is a fundamental weakness: it shows no demonstrated ability to monetize technology or services. Without recurring sales or licensing income the company cannot validate its business model, making sustained operations and investment dependent on external funding rather than internal cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Moderate leverage
Moderate debt-to-equity (0.16–0.33) reduces near-term balance-sheet stress and preserves financial flexibility. Over a 2–6 month horizon this structural capital conservatism lowers default risk and gives management room to fund commercialization efforts or raise incremental capital with less dilution pressure.
Read all positive factors
Kalina Power Limited (KPO) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$35.20M
Dividend YieldN/A
Average Volume (3M)3.31M
Price to Earnings (P/E)0.6
Beta (1Y)1.63
Revenue GrowthN/A
EPS Growth19.05%
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 Ratio131.26
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
Kalina Power Limited engages in the power business in Australia, China, Canada, and the United States. It generates power primarily from waste heat and geothermal sources using its Kalina Cycle technology. The company was formerly known as Enhance...
How the Company Makes Money
KPO’s specific, current revenue model and material revenue streams are null based on publicly available information that can be reliably confirmed here. In general (company-level), KPO has historically been associated with monetization pathways ty...
Kalina Power Limited Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
44
Neutral
Cash Flow
10
Very Negative
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | -9.67K | -11.78K | -9.66K | -6.59K |
| EBITDA | ― | -3.99M | -4.78M | -4.93M | -7.94M |
| Net Income | -4.67K | -4.08M | -4.66M | -4.66M | -7.87M |
Balance Sheet | |||||
| Total Assets | 1.69M | 461.10K | 875.71K | 5.49M | 1.25M |
| Cash, Cash Equivalents and Short-Term Investments | 1.52M | 255.21K | 706.66K | 5.35M | 1.09M |
| Total Debt | 2.61M | 2.42M | 2.30M | 2.16M | 1.90M |
| Total Liabilities | 5.12M | 3.18M | 3.32M | 2.97M | 2.79M |
| Stockholders Equity | 7.92M | 8.93M | 9.13M | 13.81M | 9.31M |
Cash Flow | |||||
| Free Cash Flow | -3.47K | -3.87M | -4.64M | -5.03M | -6.40M |
| Operating Cash Flow | -3.46K | -3.86M | -4.64M | -5.02M | -6.39M |
| Investing Cash Flow | 1.11K | 521.00 | 2.46M | -2.42M | -19.07K |
| Financing Cash Flow | 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% | |
57 Neutral | AU$21.29M | -14.94 | -6.54% | ― | 7.09% | -275.00% | |
46 Neutral | AU$18.66M | -30.09 | -1.07% | ― | ― | 8.33% | |
45 Neutral | AU$19.58M | -5.83 | -1.81% | ― | ― | 89.19% | |
44 Neutral | AU$35.20M | 0.59 | 105.12% | ― | ― | 19.05% | |
44 Neutral | AU$117.15M | -9.18 | -28.29% | ― | ― | 30.77% | |
44 Neutral | AU$6.75M | -1.93 | -67.59% | ― | 0.69% | -30.00% |
* Utilities Sector Average
AU:KPO
Kalina Power Limited
0.01
<0.01
20.00%
AU:EME
Energy Metals Ltd
0.09
0.02
20.27%
AU:BLU
Blue Energy Limited
0.01
0.00
0.00%
AU:EMP
Emperor Energy Ltd
0.12
0.09
328.57%
AU:BAS
Bass Oil Ltd
0.06
0.02
45.00%
AU:PGY
Pilot Energy Limited
0.05
-0.20
-78.40%
Kalina Power Limited Corporate Events
Kalina Power Options Lapse, Simplifying Capital Structure
Apr 8, 2026
Kalina Power Limited has announced the cessation of 95,000,000 listed options (ASX code KPOAP) that were due to expire on 7 April 2026 with an exercise price of $0.02. The options lapsed because the conditions attached to the conditional rights to...
Kalina Power Updates Market on Changes to Directors’ Equity Interests
Apr 1, 2026
Kalina Power Limited has notified the market of changes to the interests held by several directors in accordance with ASX listing rules and Australian corporations law. The update includes a lapse of 9.6 million unlisted options previously held by...
Kalina Power Options Lapse, Simplifying Capital Structure
Apr 1, 2026
Kalina Power Limited has announced the cessation of 96,870,000 options, designated as KPOAE, after the conditions attached to these securities were not satisfied or became incapable of being met as of 31 March 2026. The lapse of this large tranche...
Kalina Power Swings to Half-Year Profit as Asset Backing Improves
Feb 27, 2026
Kalina Power Limited reported a sharp turnaround in its half-year results to 31 December 2025, posting a net profit attributable to members of A$17.45 million, compared with a loss in the prior corresponding period. Revenue from ordinary activitie...
Kalina Power Monetises AESO Allocation and Gains Regulatory Tailwinds for Alberta Data-Centre Power Push
Jan 29, 2026
In the December 2025 quarter, Kalina Power’s Canadian arm, KDP, advanced its Alberta power portfolio aimed at supplying AI data centres, capitalising on a surge in large-load applications that far exceed current dispatchable capacity and ali...
Kalina Power Seeks ASX Quotation for Additional 25,000 Shares
Jan 29, 2026
Kalina Power Limited has applied to the Australian Securities Exchange for quotation of an additional 25,000 ordinary fully paid shares under its existing ASX code KPO. The modest issuance, dated 29 January 2026, slightly increases the companyR...
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.