K-TIG Ltd (AU:MPW)
ASX:MPW
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Metal Powder Works Limited
(Sydney:MPW)
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Rating:40Underperform
Price Target:
AU$1.50
â–Ľ(-25.00% Downside)
Action:DowngradedDate:03/20/26
The score is driven primarily by weak financial performance (declining revenue, ongoing losses, and negative operating/free cash flow) and a bearish technical setup (price below key moving averages with negative MACD). Valuation is also unfavorable due to loss-making results reflected in a negative P/E and no dividend support.
Positive Factors
Positive equity ratio
A positive equity ratio provides a durable solvency buffer that reduces immediate bankruptcy risk and supports the company’s ability to withstand further operating losses. Over 2-6 months this structural capital base helps preserve access to debt and equity markets for recapitalization or investment.
Negative Factors
Sharp revenue decline
A near-term revenue collapse of this magnitude reflects structural demand or competitive issues that impair the firm’s core cash generation ability. Over 2-6 months such a decline limits margin recovery, constrains reinvestment, and raises the risk that losses persist absent clear revenue remediation.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive equity ratio
A positive equity ratio provides a durable solvency buffer that reduces immediate bankruptcy risk and supports the company’s ability to withstand further operating losses. Over 2-6 months this structural capital base helps preserve access to debt and equity markets for recapitalization or investment.
Read all positive factors
Metal Powder Works Limited (MPW) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$274.88M
Dividend YieldN/A
Average Volume (3M)486.67K
Price to Earnings (P/E)―
Beta (1Y)2.27
Revenue Growth-27.57%
EPS Growth24.54%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)-0.03
Shares Outstanding149,800,780
10 Day Avg. Volume597,415
30 Day Avg. Volume486,665
Financial Highlights & Ratios
PEG Ratio-0.06
Price to Book (P/B)18.01
Price to Sales (P/S)92.51
P/FCF Ratio-48.18
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$4.10Price Target Upside105.00% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.04
Revenue Forecast (FY)AU$4.53M
Metal Powder Works Limited Business Overview & Revenue Model
Company Description
Metal Powder Works Limited (MPW, formerly K-Tig Limited) is a transformative, industry-disrupting welding technology that seeks to change the economics of fabrication. MPW's high-speed precision welding technology welds up to 100 times faster than...
How the Company Makes Money
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Metal Powder Works Limited Financial Statement Overview
Summary
Income Statement
30
Negative
Balance Sheet
40
Negative
Cash Flow
35
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.21M | 1.60M | 2.21M | 3.10M | 3.70M | 1.56M |
| Gross Profit | 823.97K | 334.84K | 823.97K | 1.59M | 2.28M | 780.67K |
| EBITDA | -2.70M | -5.56M | -722.93K | -5.33M | -6.15M | -4.24M |
| Net Income | -1.15M | -6.19M | -1.15M | -6.43M | -5.96M | -4.48M |
Balance Sheet | ||||||
| Total Assets | 3.48M | 10.33M | 3.48M | 5.48M | 6.84M | 7.25M |
| Cash, Cash Equivalents and Short-Term Investments | 301.23K | 6.31M | 301.23K | 1.56M | 3.77M | 5.10M |
| Total Debt | 3.56M | 1.07M | 3.56M | 3.51M | 437.32K | 85.21K |
| Total Liabilities | 4.49M | 2.10M | 4.49M | 6.72M | 2.19M | 1.33M |
| Stockholders Equity | -1.01M | 8.22M | -1.01M | -1.23M | 4.65M | 5.92M |
Cash Flow | ||||||
| Free Cash Flow | -2.02M | -3.07M | -2.02M | -4.79M | -4.84M | -4.00M |
| Operating Cash Flow | -1.98M | -2.54M | -1.98M | -4.53M | -4.68M | -3.77M |
| Investing Cash Flow | 109.33K | -301.04K | 109.33K | -266.02K | -154.53K | -272.17K |
| Financing Cash Flow | 1.35M | 8.96M | 1.35M | 1.88M | 3.50M | 5.61M |
Metal Powder Works Limited Technical Analysis
Negative
2.00
Price Trends
2.41
Negative
2.20
Negative
2.50
Negative
Market Momentum
-0.14
Negative
37.15
Neutral
40.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MPW, the sentiment is Negative. The current price of 2 is below the 20-day moving average (MA) of 2.02, below the 50-day MA of 2.41, and below the 200-day MA of 2.50, indicating a bearish trend. The MACD of -0.14 indicates Negative momentum. The RSI at 37.15 is Neutral, neither overbought nor oversold. The STOCH value of 40.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:MPW.
Metal Powder Works Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | AU$145.29M | 3.47 | 14.98% | 4.59% | 1.33% | -11.07% | |
70 Outperform | AU$456.67M | 13.05 | 76.78% | 1.49% | 91.96% | 109.56% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | AU$85.11M | -1.38 | -34.30% | 1.28% | -14.88% | -56.89% | |
41 Neutral | AU$110.51M | -4.86 | -35.18% | ― | 0.88% | 4.88% | |
40 Underperform | AU$274.88M | -23.92 | -171.79% | ― | -27.57% | 24.54% |
* Basic Materials Sector Average
AU:MPW
Metal Powder Works Limited
1.84
1.42
336.90%
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AML3D Ltd
0.20
0.04
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CTI Logistics Limited
1.80
0.28
18.27%
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SKS Technologies Group Limited
3.96
2.26
132.39%
AU:VEE
Veem Ltd
0.58
-0.42
-42.00%
Metal Powder Works Limited Corporate Events
Metal Powder Works lodges cleansing notice for new securities issue
Mar 18, 2026
Metal Powder Works Limited has notified the ASX that it has issued new securities without a prospectus under the Corporations Act’s exemption provisions, in connection with securities previously disclosed in an Appendix 2A. The company confi...
Metal Powder Works Seeks ASX Quotation for New Share Issue
Mar 18, 2026
Metal Powder Works Limited has lodged an application with the ASX for quotation of 80,769 new ordinary fully paid shares, to be issued on March 18, 2026 under the code MPW. The new securities arise from the exercise or conversion of existing optio...
Metal Powder Works issues cleansing notice on new securities
Mar 11, 2026
Metal Powder Works Limited has issued a cleansing statement to the ASX confirming that recently issued securities, referenced in a separate Appendix 2A, were offered without a prospectus under the Corporations Act’s disclosure exemptions. Th...
Metal Powder Works Seeks ASX Quotation for Nearly 3 Million New Shares
Mar 11, 2026
Metal Powder Works Limited has applied for quotation on the ASX of 2,980,766 new ordinary fully paid shares, issued on 4 March 2026, under its ticker MPW. The additional securities, arising from the exercise or conversion of existing instruments, ...
Macquarie Group Exits Substantial Holder Position in Metal Powder Works
Mar 11, 2026
Macquarie Group Limited has notified Metal Powder Works that it has ceased to be a substantial holder in the company, filing a formal notice under Australian corporations law. The change indicates that Macquarie and its extensive network of contro...
Metal Powder Works lodges cleansing notice for newly issued securities
Mar 5, 2026
Metal Powder Works Limited, an ASX-listed producer of advanced metal powders for additive manufacturing, operates from its Pittsburgh headquarters and manufacturing base, supplying a portfolio of more than 16 powders spanning aluminum, copper allo...
Metal Powder Works Seeks ASX Quotation for 1.65 Million New Shares
Mar 5, 2026
Metal Powder Works Limited has applied to the Australian Securities Exchange for quotation of 1,646,157 new ordinary fully paid shares, issued on March 5, 2026. The additional securities, arising from the exercise or conversion of existing instrum...
Metal Powder Works to Brief Investors on Half-Year Results via Webinar
Mar 2, 2026
Metal Powder Works Limited, a Pittsburgh-based producer of advanced metal powders for additive manufacturing, has built its business around a patented DirectPowder non-thermal process that aims to deliver higher-yield, more affordable powders acro...
Metal Powder Works to List 6.1 Million Newly Tradable Shares on ASX
Mar 2, 2026
Metal Powder Works Limited has applied for quotation on the ASX of 6,107,264 ordinary fully paid shares, with an issue date of March 2, 2026. The application relates to restricted securities whose escrow periods have expired or are about to expire...
Metal Powder Works Strikes Cold Spray Tooling Pact With CenterLine to Enter Auto Market
Mar 1, 2026
Metal Powder Works has signed a Powder Partner agreement with Canadian firm CenterLine to co-develop advanced metal powder materials for cold spray applications, targeting automotive tooling. The deal leverages MPW’s DirectPowder technology ...
Metal Powder Works widens half-year loss but doubles net tangible assets
Feb 26, 2026
Metal Powder Works Limited reported a sharp widening of its half-year loss to $3.7 million for the period ended 31 December 2025, compared with a loss of $0.86 million a year earlier, reflecting a 330.1% increase in losses attributable to sharehol...
Metal Powder Works Secures UK Defence Additive Manufacturing Contract
Feb 25, 2026
Metal Powder Works has received a purchase order under the UK Ministry of Defence’s Project TAMPA to supply a titanium component produced using its in-house powder production and additive manufacturing capabilities. The collaboration will se...
Metal Powder Works to Lift Escrow on Major Parcel of Shares and Options
Feb 20, 2026
Metal Powder Works Limited has announced that a significant parcel of securities currently under mandatory escrow, including more than six million fully paid ordinary shares, several tranches of unlisted options, and over 23 million performance ri...
Metal Powder Works Ramps Up Metal Powder Sales and Capacity in Pivotal Quarter
Jan 20, 2026
Metal Powder Works’ December 2025 quarter marked a sharp escalation in commercial traction, with commercially pure titanium (CP‑Ti) order volumes rising more than threefold as multi-alloy customer programs broadened, 11 new customers w...
Macquarie Group Ceases to Be Substantial Holder in Metal Powder Works
Jan 9, 2026
Macquarie Group Limited and its controlled entities have lodged a formal notice that they have ceased to be a substantial holder in Metal Powder Works Limited, as required under Australian corporations law. The change signals that Macquarie’...
UBS Group AG Exits Substantial Holding in Metal Powder Works
Jan 8, 2026
Metal Powder Works Limited has disclosed that UBS Group AG and its related bodies corporate have ceased to be substantial shareholders in the company as of 6 January 2026. The change in UBS’s relevant interest in the company’s voting s...
Metal Powder Works Corrects Director Interest Disclosure on Performance Rights
Jan 7, 2026
Metal Powder Works Limited has issued a correction to a previously lodged Change of Director’s Interest Notice relating to Managing Director John Barnes, clarifying that Metal Powder Holdings LLC holds 750,000 Performance Rights in each of t...
Metal Powder Works Director Reshapes Equity Stake With New Share and Performance Rights Holdings
Jan 2, 2026
Metal Powder Works Limited has disclosed changes to director Stuart Carmichael’s relevant interests in the company’s securities, lodged with the ASX in accordance with listing rule 3.19A.2. Through various entities associated with him,...
Metal Powder Works Announces Lapse of 92,310 Performance Rights
Jan 1, 2026
Metal Powder Works Limited, listed on the ASX under the code MPW, has reported a change in its issued capital structure, though the announcement does not specify the company’s underlying industry or core products. The company notified the ma...
Metal Powder Works Clarifies Voluntary Escrow Terms on ASX-Quoted Securities
Dec 30, 2025
Metal Powder Works Limited has updated its application for quotation of securities on the ASX, confirming details under its issuer code MPW and Australian Business Number 28158307549. The company clarified that the relevant securities are subject ...
Metal Powder Works Issues 6 Million Unquoted Performance Rights Under Employee Incentive Scheme
Dec 29, 2025
Metal Powder Works Limited has issued 6 million unquoted performance rights under its employee incentive scheme, with the securities not intended to be listed on the ASX. The new performance rights, issued on 29 December 2025, form part of the com...
Metal Powder Works Sets Up Employee Securities Incentive Plan
Dec 29, 2025
Metal Powder Works Limited has established an Employee Securities Incentive Plan, setting out a structured framework for granting securities and convertible securities to eligible employees and related participants. The plan details eligibility cr...
Metal Powder Works to List 1.38 Million Escrowed Director Shares on ASX
Dec 29, 2025
Metal Powder Works Limited has received approval to quote a new class of escrowed shares on the ASX, issued as director shares previously approved at the company’s Annual General Meeting. The company will list 1,375,000 escrowed shares, date...
Metal Powder Works Seeks ASX Quotation for Additional Ordinary Shares
Dec 28, 2025
Metal Powder Works Limited has applied to the ASX for quotation of 250 additional fully paid ordinary shares, issued on 24 December 2025 under its existing capital management framework. The small-sized issuance, lodged via an Appendix 2A, marginal...
Metal Powder Works Seeks ASX Quotation for Additional Shares
Dec 24, 2025
Metal Powder Works Limited has applied to the ASX for quotation of 92,310 new ordinary fully paid shares under its issuer code MPW. The additional securities, issued on 24 December 2025, modestly increase the company’s quoted capital base an...
Metal Powder Works Plans Small Non‑Pro Rata Share Issue on ASX
Dec 24, 2025
Metal Powder Works Limited has lodged a notice of a proposed non‑pro rata offer of up to 250 ordinary fully paid shares to be issued under a disclosure document or product disclosure statement, with acceptances closing and securities expecte...
Metal Powder Works Issues Cleansing Prospectus for Performance Rights Conversion
Dec 24, 2025
Metal Powder Works Limited has issued a cleansing prospectus under Australian corporations law to remove trading restrictions on 92,310 shares to be created from the conversion of certain performance rights. The prospectus also includes a small, t...
Metal Powder Works Lodges Prospectus to Lift Trading Restrictions on Shares
Dec 24, 2025
Metal Powder Works Limited has lodged a prospectus to facilitate an offer of 250 shares at an issue price of A$2.00 each, targeting the removal of trading restrictions on shares issued before the closing date under section 708A(11) of the Corporat...
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.