Matrix Composites & Engineering Ltd (AU:MCE)
ASX:MCE
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Matrix Composites & Engineering Ltd
(Sydney:MCE)
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Rating:44Neutral
Price Target:
AU$0.35
▲(39.60% Upside)
Action:UpgradedDate:04/01/26
The score is primarily dragged down by weak financial performance (declining revenue, ongoing losses, high leverage, and cash flow pressure). Technical indicators provide some support due to strong recent price momentum, but overbought RSI elevates short-term risk. Valuation remains unattractive/uncertain given a negative P/E and no dividend yield data.
Positive Factors
Niche subsea engineering specialization
A clear focus on subsea engineering and composite/offshore equipment denotes specialized technical capabilities and higher barriers to entry. That specialization supports lasting customer relationships, multi-year project work, and relevance to offshore capex cycles, aiding medium-term revenue potential.
Negative Factors
Sharp revenue decline
A material drop in revenue reduces scale and undermines fixed-cost absorption, weakening competitive positioning on bid pricing and margin recovery. Prolonged revenue contraction can erode backlog visibility and make maintaining workforce and capacity more costly over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Niche subsea engineering specialization
A clear focus on subsea engineering and composite/offshore equipment denotes specialized technical capabilities and higher barriers to entry. That specialization supports lasting customer relationships, multi-year project work, and relevance to offshore capex cycles, aiding medium-term revenue potential.
Read all positive factors
Matrix Composites & Engineering Ltd (MCE) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$87.63M
Dividend YieldN/A
Average Volume (3M)287.58K
Price to Earnings (P/E)―
Beta (1Y)1.04
Revenue Growth-36.31%
EPS Growth-245.99%
CountryAU
Employees383
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)-0.05
Shares Outstanding224,685,990
10 Day Avg. Volume93,359
30 Day Avg. Volume287,579
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)1.66
Price to Sales (P/S)0.65
P/FCF Ratio-9.25
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)>-0.01
Revenue Forecast (FY)AU$87.70M
Matrix Composites & Engineering Ltd Business Overview & Revenue Model
Company Description
Matrix Composites & Engineering Ltd, together with its subsidiaries, designs, engineers, manufactures, and sells composite and material technology solutions to the oil and gas, civil and infrastructure, resources, defense, and transportation indus...
How the Company Makes Money
MCE makes money primarily by selling and delivering engineered equipment and services to customers in offshore energy and subsea markets. Key revenue streams include: (1) project-based revenue from the design, manufacture, and delivery of speciali...
Matrix Composites & Engineering Ltd Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
40
Negative
Cash Flow
35
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 62.24M | 74.77M | 85.04M | 47.20M | 28.63M | 17.62M |
| Gross Profit | 2.46M | 10.77M | 17.53M | 3.99M | 1.20M | -3.56M |
| EBITDA | -2.95M | 3.67M | 11.77M | 14.64M | -42.00K | -21.18M |
| Net Income | -12.66M | -2.22M | 3.65M | 8.68M | -4.78M | -27.92M |
Balance Sheet | ||||||
| Total Assets | 78.49M | 80.78M | 95.15M | 79.89M | 33.22M | 36.50M |
| Cash, Cash Equivalents and Short-Term Investments | 18.03M | 18.34M | 23.32M | 20.02M | 7.59M | 7.16M |
| Total Debt | 69.94M | 37.06M | 39.39M | 35.48M | 27.26M | 27.72M |
| Total Liabilities | 58.15M | 51.45M | 64.14M | 53.12M | 34.52M | 39.36M |
| Stockholders Equity | 20.34M | 29.32M | 31.02M | 26.77M | -1.30M | -2.86M |
Cash Flow | ||||||
| Free Cash Flow | 3.04M | -5.27M | 6.54M | -13.23M | -5.66M | -7.04M |
| Operating Cash Flow | 5.67M | -416.00K | 10.88M | -10.68M | -4.11M | -3.91M |
| Investing Cash Flow | -3.19M | -5.14M | 2.99M | -9.99M | -1.45M | -3.13M |
| Financing Cash Flow | -482.00K | -50.00K | -3.10M | 25.63M | 5.99M | -475.00K |
Matrix Composites & Engineering Ltd Technical Analysis
Positive
0.25
Price Trends
0.27
Positive
0.26
Positive
0.26
Positive
Market Momentum
0.03
Negative
77.07
Negative
44.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MCE, the sentiment is Positive. The current price of 0.25 is below the 20-day moving average (MA) of 0.32, below the 50-day MA of 0.27, and below the 200-day MA of 0.26, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 77.07 is Negative, neither overbought nor oversold. The STOCH value of 44.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:MCE.
Matrix Composites & Engineering Ltd Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | AU$802.66M | ― | 8.35% | 4.17% | -34.08% | -36.57% | |
67 Neutral | AU$514.85M | 7.39 | 22.89% | 2.51% | 1.87% | -23.48% | |
65 Neutral | AU$2.93B | 10.17 | 20.27% | 2.65% | 26.80% | 40.18% | |
65 Neutral | AU$791.84M | 10.83 | 42.55% | 5.24% | -16.50% | -24.00% | |
64 Neutral | AU$5.04B | 14.22 | 7.97% | 3.11% | -4.99% | 120.98% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
44 Neutral | AU$87.63M | -1.55 | -50.97% | ― | -36.31% | -245.99% |
* Industrials Sector Average
AU:MCE
Matrix Composites & Engineering Ltd
0.39
0.20
105.26%
AU:DOW
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AU:CVL
Civmec Singapore Limited Shs Chess Deposit Interests Repr 1 Sh
1.57
0.72
85.43%
Matrix Composites & Engineering Ltd Corporate Events
Advanced Innergy tables premium bid for Matrix Composites & Engineering
Mar 30, 2026
Advanced Innergy Holdings Ltd has lodged a non‑binding, indicative proposal to acquire all shares in Matrix Composites Engineering Ltd for AUD$0.40 per share in cash via a scheme of arrangement. The offer represents premiums of around 65%&#...
Matrix Receives Non-Binding $0.40-Per-Share Takeover Approach From Advanced Innergy
Mar 30, 2026
Matrix Composites Engineering has received a confidential, non-binding and indicative cash proposal from Advanced Innergy Holdings to acquire all Matrix shares at $0.40 per share, subject to due diligence, regulatory approvals, and final transact...
Matrix outlines 2026 half‑year results under strict investor disclaimers
Feb 26, 2026
Matrix Composites Engineering Ltd has released an investor presentation outlining its 2026 half‑year results, led by chief executive Aaron Begley and chief financial officer Brendan Cocks. The document emphasises that the material is a high...
Matrix Banks on Second-Half Surge After Subsea Project Delays Hit First-Half Results
Feb 26, 2026
Matrix Composites Engineering reported a sharp fall in first-half FY26 revenue to $26.9 million and an underlying EBITDA loss of $4.1 million, driven mainly by the timing of subsea buoyancy and SURF contracts. Subsea work accounted for more than ...
Matrix Composites & Engineering sets investor call on 1H FY26 results
Feb 24, 2026
Matrix Composites Engineering will host an investor conference call on 27 February 2026, led by CEO Aaron Begley and CFO Brendan Cocks, to discuss its financial results for the first half of FY2026. The company will release its accounts for the s...
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.