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Manhattan Corporation (AU:MHC)
ASX:MHC

Manhattan Corporation (MHC) AI Stock Analysis

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AU:MHC

Manhattan Corporation

(Sydney:MHC)

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Neutral 50 (OpenAI - 5.2)
Rating:50Neutral
Price Target:
AU$0.03
▲(35.00% Upside)
The score is held back primarily by weak financial performance (persistent losses and negative cash flow), while technicals provide a modest offset with price above major moving averages and positive MACD. Valuation remains a concern because earnings are negative (making P/E less meaningful) and no dividend yield is provided.
Positive Factors
Capital Structure
A zero-debt capital structure provides Manhattan Corporation with financial flexibility and reduces risk, supporting long-term stability.
Exploration Potential
The discovery of high-grade mineralization at Hook Lake enhances Manhattan's exploration prospects, potentially boosting future revenue and market position.
Strategic Initiatives
Issuing new securities can provide capital for strategic initiatives, potentially enhancing market presence and liquidity, supporting growth.
Negative Factors
Cash Flow Issues
Persistent negative cash flow indicates reliance on external funding, which could limit operational flexibility and long-term sustainability.
Ongoing Losses
Continued losses reflect challenges in achieving profitability, which can hinder investment in growth and affect long-term viability.
Negative Profitability
Negative margins highlight inefficiencies and cost management issues, potentially impacting the company's ability to generate sustainable profits.

Manhattan Corporation (MHC) vs. iShares MSCI Australia ETF (EWA)

Manhattan Corporation Business Overview & Revenue Model

Company DescriptionManhattan Corporation (MHC) is a diversified conglomerate operating across multiple sectors, including real estate, finance, and technology. With a strong presence in urban development, MHC is primarily known for its real estate ventures, encompassing commercial, residential, and mixed-use properties. Additionally, the company has a significant foothold in financial services, offering investment products and solutions, and is increasingly investing in innovative technology-driven initiatives to enhance its offerings.
How the Company Makes MoneyManhattan Corporation (MHC) generates revenue through a variety of streams across its diverse sectors. In real estate, the company earns money through property sales, leasing, and management fees associated with its commercial and residential projects. In the finance sector, MHC's earnings come from fees and commissions on financial products, asset management services, and investment advisory. The technology sector, although emerging, contributes to revenue through the development and sale of proprietary software solutions and strategic partnerships with tech firms. Key partnerships with financial institutions and real estate developers further bolster its income, enabling MHC to leverage industry expertise and expand its market reach.

Manhattan Corporation Financial Statement Overview

Summary
Overall fundamentals are pressured by persistent losses and ongoing cash burn (weak income statement and cash flow), partially offset by a strong, low-risk capital structure with zero debt and high equity relative to assets.
Income Statement
18
Very Negative
Operating performance remains weak with persistent losses across all reported years and deeply negative profitability in the latest year (2025: net margin roughly -45% and operating margin roughly -41%). While 2025 shows some revenue (after essentially no revenue in prior years), the company is still not close to covering its cost base, and earnings have been consistently negative with limited visibility into sustainable top-line momentum.
Balance Sheet
72
Positive
The balance sheet is a clear relative strength: total debt is reported at zero across periods, resulting in no leverage pressure and good financial flexibility. Equity is sizable versus assets (2025 equity ~$13.0m vs assets ~$13.2m), but returns on equity are consistently negative due to ongoing losses, which is the main weakness despite the conservative capital structure.
Cash Flow
24
Negative
Cash generation is poor with operating cash flow and free cash flow negative every year shown, indicating the business is consuming cash rather than producing it. There is some improvement in free cash flow in 2025 versus prior-year levels (less cash burn than 2024), but cash flows remain meaningfully negative and still depend on external funding sources over time.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue0.0020.33K0.000.000.000.00
Gross Profit-17.93K20.33K-24.06K-25.48K-35.31K-25.95K
EBITDA-905.42K-751.02K-1.60M-730.03K-500.72K-573.06K
Net Income-467.81K-923.35K-1.63M-755.51K-536.02K-599.02K
Balance Sheet
Total Assets13.16M13.16M12.56M14.03M7.82M8.12M
Cash, Cash Equivalents and Short-Term Investments1.86M1.86M1.85M4.34M2.18M4.22M
Total Debt0.000.000.000.000.000.00
Total Liabilities147.69K147.69K230.23K107.31K308.68K80.47K
Stockholders Equity13.02M13.02M12.33M13.92M7.51M8.04M
Cash Flow
Free Cash Flow-481.18K-881.37K-2.49M-2.08M-2.05M-2.79M
Operating Cash Flow-480.79K-881.37K-681.18K-673.04K-425.40K-568.40K
Investing Cash Flow-726.63K-726.63K-1.81M-1.38M-1.62M-2.22M
Financing Cash Flow1.62M1.62M7.01K4.22M6.04M6.04M

Manhattan Corporation Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
51
Neutral
AU$15.95M-6.72-38.23%-3.93%
50
Neutral
AU$14.60M-6.67-7.13%57.61%
48
Neutral
AU$21.50M-3.47-53.09%
46
Neutral
AU$12.69M-1.68-171.73%21.91%
46
Neutral
AU$10.52M-7.22-9.51%-17.39%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:MHC
Manhattan Corporation
0.03
<0.01
18.18%
AU:ALV
Alvo Minerals Limited
0.05
0.01
36.84%
AU:HWK
Alderan Resources Ltd.
0.04
0.02
95.24%
AU:CBY
Canterbury Resources Ltd.
0.04
0.01
56.00%
AU:T88
Taiton Resources Limited
0.16
0.04
33.33%

Manhattan Corporation Corporate Events

Manhattan Corporation Issues 4 Million Shares for Strategic Initiatives
Dec 11, 2025

Manhattan Corporation Limited, listed on the ASX, has issued 4,000,000 fully paid ordinary shares without disclosure to investors, in accordance with the Corporations Act 2001. This issuance includes 3,000,000 shares to Shaw and Partners for their role as Lead Manager and Bookrunner for a previous placement, and 1,000,000 shares to Aktiencheck.de AG for a European advertising and investor awareness campaign. The company confirms compliance with relevant provisions of the Corporations Act and ASX Listing Rules, ensuring transparency and adherence to regulatory standards.

Manhattan Corporation Announces Quotation of New Securities
Dec 11, 2025

Manhattan Corporation Limited has announced the quotation of 4,000,000 ordinary fully paid securities on the Australian Securities Exchange (ASX) under the code MHC. This move is part of a previously announced transaction, and the securities were issued on December 10, 2025. The announcement signifies a strategic step for the company, potentially enhancing its market presence and providing additional liquidity for its stakeholders.

Manhattan Corporation Issues Unquoted Equity Options
Dec 11, 2025

Manhattan Corporation Limited has announced the issuance of 2,500,000 unquoted equity securities in the form of options. These options are set to expire on May 29, 2028, and are exercisable at $0.04 each. This issuance is part of a previously announced transaction, and the securities are not intended to be quoted on the ASX. The announcement reflects the company’s ongoing financial strategies and may impact its market operations and stakeholder interests.

Director Increases Stake in Manhattan Corporation
Dec 4, 2025

Manhattan Corporation Limited announced a change in the interests of its director, Gavin Rezos, who has acquired additional ordinary shares through on-market purchases. This change reflects a significant increase in Rezos’s stake in the company, potentially indicating confidence in the company’s future performance and impacting shareholder perceptions.

Manhattan Gold Corporation Announces Hook Lake Project Acquisition
Dec 4, 2025

Manhattan Gold Corporation announced its plans for the acquisition of the Hook Lake Project, which includes significant exploration targets for high-grade gold and copper. This move is expected to enhance the company’s exploration capabilities and strengthen its position in the mining industry, although the historical estimates for the project do not conform to current industry standards.

Manhattan Corporation’s AGM Resolutions Passed with Strong Support
Nov 28, 2025

Manhattan Corporation Limited, listed on the ASX under the symbol MHC, announced the results of its 2025 Annual General Meeting. All nine resolutions presented at the meeting were passed by poll, indicating strong shareholder support for the company’s proposals. The resolutions included the adoption of the directors’ remuneration report, election of a director, ratification of share placements, approval of lead manager options and shares, future placement shares, marketing services shares, a change of company name, and approval of a 10% placement capacity. This outcome reflects positively on the company’s governance and strategic initiatives, potentially strengthening its market position and stakeholder confidence.

Manhattan Corporation Unveils High-Grade Gold and Polymetallic Potential at Hook Lake Project
Nov 13, 2025

Manhattan Corporation Limited has announced promising assay results from its maiden fieldwork program at the Hook Lake Project, revealing high-grade gold and polymetallic mineralization. Key findings include a standout gold result of 173.5 g/t from the Defender prospect and significant polymetallic potential at other targets, indicating the presence of multiple mineralizing systems. This development positions Hook Lake as a significant emerging greenstone belt with diverse exploration targets, enhancing Manhattan’s exploration prospects and stakeholder interest.

Novo Resources Identifies High-Grade Gold Targets at Tibooburra
Nov 5, 2025

Novo Resources Corp. has provided an update on its exploration activities at the Tibooburra Gold Project in New South Wales. The company has identified new high-grade gold targets through rock chip sampling and mapping, with notable results from Pioneer North and South. The exploration efforts have advanced the geological understanding of the area, supporting further drilling assessments. Novo has also secured an additional exploration license and is progressing with regulatory approvals for drilling at the John Bull Gold Project.

Manhattan Corporation Unveils Promising Assay Results at Hook Lake Project
Nov 3, 2025

Manhattan Corporation has announced promising assay results from its Hook Lake Project, highlighting significant expansion potential at the Jaws deposit and identifying new high-grade precious metal occurrences at the Quantum and Lotus prospects. The project has revealed three separate polymetallic targets, with notable zinc and copper mineralization at the Skyfall and Silva VMS prospects. These findings suggest a substantial precious and base metal district, enhancing Manhattan’s exploration pipeline and positioning the company strategically in the mining sector.

Manhattan Corporation Advances Exploration at Hook Lake Project
Oct 31, 2025

Manhattan Corporation Limited has reported significant progress in its September 2025 quarterly activities, particularly at its Hook Lake Project in Nunavut, Canada. The company has conducted geological mapping, prospecting, and rock chip sampling, revealing promising results at various prospects, including the Jaws Gold Deposit and the Spectre Prospect. The company has expanded its mineral claims and contracted a high-resolution aeromagnetic survey to enhance exploration efforts. Additionally, new board appointments and a successful $2.2 million placement to investors underscore the company’s strategic focus on advancing the Hook Lake Project.

Manhattan Corporation Announces Proposed Securities Issue
Oct 29, 2025

Manhattan Corporation Limited has announced a proposed issue of securities, which includes 2.5 million options expiring in May 2028 and 4 million ordinary fully paid shares. The proposed issue date for these securities is December 5, 2025. This move is part of the company’s efforts to raise capital through a placement or other type of issue, which could potentially impact its market positioning and offer new opportunities for stakeholders.

Manhattan Corporation Announces 2025 AGM and Key Resolutions
Oct 29, 2025

Manhattan Corporation Limited has announced its 2025 Annual General Meeting, scheduled for November 28, 2025, in West Perth, Australia. The meeting will address the company’s 2025 Annual Report and consider the adoption of the Directors’ Remuneration Report for the financial year ended June 30, 2025. The resolution regarding the Remuneration Report is non-binding and advisory, and specific voting exclusions apply to members of the Key Management Personnel and their closely related parties.

Manhattan Corporation Provides Online Access to AGM Documents
Oct 29, 2025

Manhattan Corporation Limited has announced that shareholders can now access the documentation for its upcoming Annual General Meeting online. The meeting is scheduled for November 28, 2025, and shareholders are encouraged to vote online or submit proxy forms by November 26, 2025. This move to provide digital access to meeting documents reflects the company’s commitment to transparency and shareholder engagement.

Manhattan Corporation Unveils High-Grade Gold and Silver Discoveries at Hook Lake Project
Oct 27, 2025

Manhattan Corporation Limited has announced promising assay results from its initial fieldwork at the Hook Lake Project in Nunavut, Canada. The results from the Quantum and Lotus prospects, which have not been previously drilled, indicate high-grade gold and silver mineralization. These findings suggest the presence of a large, fertile mineralized system with potential for multiple deposits, enhancing the company’s geological understanding and reinforcing the project’s potential. The discovery of diverse mineralization styles across significant strike lengths highlights the project’s exceptional discovery opportunities, with further exploration updates anticipated.

Manhattan Corporation Unveils Promising Gold Assay Results at Hook Lake Project
Oct 23, 2025

Manhattan Corporation Limited has announced promising initial assay results from its maiden fieldwork program at the Hook Lake Project, revealing a large and highly prospective gold system. The Jaws deposit, part of this project, shows significant potential for expansion with gold grades reaching up to 14.5 grams per tonne. The discovery of high-grade gold and polymetallic potential, including copper and antimony, suggests the presence of a major gold district, positioning Manhattan to accelerate exploration efforts and capitalize on high gold prices.

Manhattan Corporation Updates Securities Trading Policy
Oct 17, 2025

Manhattan Corporation Limited has updated its Securities Trading Policy to comply with ASX Listing Rule 12.10, effective immediately. The policy aims to prevent insider trading and maintain the company’s reputation by regulating securities dealings among directors, senior management, and other designated individuals. Key aspects include prohibiting trading during blackout periods, restricting speculative trading, and requiring prior approval for certain transactions.

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.Date of analysis: Dec 30, 2025