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Metal Powder Works Limited
(Sydney:MPW)
Metal Powder Works Limited (MPW) vs. iShares MSCI Australia ETF (EWA)
Metal Powder Works Limited Business Overview & Revenue Model
Metal Powder Works Limited Financial Statement Overview
| 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
Metal Powder Works Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | AU$486.65M | 29.50 | 76.78% | 1.49% | 91.96% | 109.56% | |
71 Outperform | AU$180.00M | 8.84 | 11.37% | 4.59% | 1.33% | -11.07% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | AU$90.98M | -5.00 | 5.66% | 1.28% | -14.88% | -56.89% | |
44 Neutral | AU$406.26M | -29.79 | -171.79% | ― | -27.57% | 24.54% | |
41 Neutral | AU$85.64M | -9.34 | -35.18% | ― | 0.88% | 4.88% |
Metal Powder Works Limited Corporate Events
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, effectively increasing the volume of tradable stock available to investors and potentially improving liquidity in the company’s shares.
The move indicates a transition of previously restricted holdings into the open market, which may broaden the shareholder base and alter trading dynamics for MPW. While the announcement is largely procedural, it underscores the company’s progression through post-listing lock-up periods and could influence market perception as more equity becomes freely tradeable.
The most recent analyst rating on (AU:MPW) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Metal Powder Works Limited stock, see the AU:MPW Stock Forecast page.
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 and CenterLine’s Supersonic Spray Technologies cold spray platform, providing MPW with a new alloy, Kirksite, and a strategic entry into the global automotive sector.
The collaboration is anchored by demand from an automotive customer to evaluate Kirksite, a zinc-aluminium alloy widely used in tooling across automotive, aerospace and defence. By developing Kirksite powders for cold spray repair and prototyping, MPW is addressing an estimated USD 100-300 million automotive market, broadening its powder portfolio and extending its cold spray validation into a new end-market.
CenterLine’s established relationships with major automotive OEMs and Tier-1 suppliers, and its operations across seven countries, offer MPW an accelerated path to commercialisation. Initial development and validation work will begin immediately, with the partners aiming to deliver cold spray tooling solutions that extend tool life, cut downtime and lower manufacturing costs, strengthening MPW’s positioning in next-generation tooling technologies.
The most recent analyst rating on (AU:MPW) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Metal Powder Works Limited stock, see the AU:MPW Stock Forecast page.
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 shareholders. Despite the deeper deficit, net tangible assets per share more than doubled to 13.13 cents from 5.67 cents, and the company again did not declare any dividends, underscoring a continued emphasis on reinvestment and balance sheet growth rather than cash returns to investors.
The group reported no acquisitions, disposals, associates or joint ventures in the period, signaling a focus on existing operations rather than expansion via corporate transactions. The interim financial statements underwent an auditor review with no disclosed qualifications, offering some reassurance on reporting quality as the company navigates its loss-making but asset-building phase.
The most recent analyst rating on (AU:MPW) stock is a Hold with a A$2.50 price target. To see the full list of analyst forecasts on Metal Powder Works Limited stock, see the AU:MPW Stock Forecast page.
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 see MPW work with UK-based Additive Manufacturing Solutions, which will use Laser Powder Bed Fusion technology to manufacture the part.
The contract, conducted in coordination with the US Department of Defense, establishes MPW as a qualified US-based production node within the UK MOD’s emerging global defence additive manufacturing supply network. While not material in value, the deal marks MPW’s first engagement with a NATO defence programme, validates its DirectPowder titanium for defence-grade use, and opens a significant new addressable market without requiring additional capital expenditure, reinforcing long-term industry adoption of additive manufacturing in defence supply chains.
The most recent analyst rating on (AU:MPW) stock is a Hold with a A$2.50 price target. To see the full list of analyst forecasts on Metal Powder Works Limited stock, see the AU:MPW Stock Forecast page.
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 rights, will be released from escrow on 2 March 2026. The company plans to seek quotation of the newly released ordinary shares on the ASX, a move that will increase the free float of MPW stock and potentially enhance liquidity for investors while signalling a new phase of capital structure normalisation following earlier escrow arrangements.
By bringing previously restricted equity into the tradable pool, Metal Powder Works is widening access to its shares at a time when its proprietary DirectPowder process and expanding portfolio of metal powders are positioning it as an innovator in the additive manufacturing supply chain. The release and planned quotation of these securities may influence ownership dynamics and valuation expectations for existing and prospective shareholders, as the market absorbs a larger volume of tradeable MPW equity tied to its growth in advanced materials markets.
The most recent analyst rating on (AU:MPW) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Metal Powder Works Limited stock, see the AU:MPW Stock Forecast page.
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 were added, and two new metals entered its portfolio. The company reported growing demand from strategic customers such as Powders On Demand, Hardchrome Engineering and Westinghouse Electric Company, secured a Powder Partnership Agreement with Austal that sets a pathway to a commercial offtake and further defence funding, successfully delivered an Expeditionary DirectPowder™ unit to the US Naval Postgraduate School, and validated high-purity silver production as an entry point into precious materials. Operationally, MPW is insourcing DirectPowder™ tooling to cut costs and improve supply security, investing in its NextGen machine to double capacity by 100 tonnes per unit, scaling CP‑Ti output toward projected 300,000–600,000 kg annual demand by 2028, and ended the quarter with a cash balance of $15.3 million, positioning 2026 as a pivotal growth phase focused on market expansion and revenue generation.
The most recent analyst rating on (AU:MPW) stock is a Hold with a A$2.50 price target. To see the full list of analyst forecasts on Metal Powder Works Limited stock, see the AU:MPW Stock Forecast page.
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’s aggregate voting interest in Metal Powder Works has fallen below the substantial holding threshold, potentially reducing the presence of a major institutional investor on the company’s register and indicating a shift in its shareholder base that investors may monitor for implications on liquidity and market perception.
The most recent analyst rating on (AU:MPW) stock is a Buy with a A$4.10 price target. To see the full list of analyst forecasts on Metal Powder Works Limited stock, see the AU:MPW Stock Forecast page.
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 securities, detailed in an accompanying appendix, signals a complete exit from a substantial holding position and may alter Metal Powder Works’ share register composition and investor base, with potential implications for market perception and future institutional support.
The most recent analyst rating on (AU:MPW) stock is a Buy with a A$4.10 price target. To see the full list of analyst forecasts on Metal Powder Works Limited stock, see the AU:MPW Stock Forecast page.
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 the D, E, F and G classes. The updated disclosure, authorised by the company secretary, ensures accurate reporting of director-related securities and reinforces the company’s compliance with ASX corporate governance and transparency requirements.
The most recent analyst rating on (AU:MPW) stock is a Buy with a A$4.10 price target. To see the full list of analyst forecasts on Metal Powder Works Limited stock, see the AU:MPW Stock Forecast page.
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, Carmichael has acquired 280,770 ordinary shares and 1.2 million new performance rights across four new classes (D, E, F and G), while disposing of a total of 46,155 performance rights from existing Classes A, B and C, reflecting a significant reshaping and expansion of his performance-based equity exposure and signalling ongoing alignment of his incentives with the company’s future performance.
The most recent analyst rating on (AU:MPW) stock is a Buy with a A$4.10 price target. To see the full list of analyst forecasts on Metal Powder Works Limited stock, see the AU:MPW Stock Forecast page.
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 market that 92,310 performance rights (ASX code MPWAE) have lapsed following the expiry of these convertible securities without exercise on 23 December 2025, slightly reducing the pool of potential future equity and clarifying the current capital position for shareholders and investors.
The most recent analyst rating on (AU:MPW) stock is a Buy with a A$4.10 price target. To see the full list of analyst forecasts on Metal Powder Works Limited stock, see the AU:MPW Stock Forecast page.
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 to a voluntary escrow with a holding lock applied, but are not under ASX-imposed escrow, a distinction that may affect how and when existing holders can trade these securities while still signalling that regulatory escrow conditions by the exchange are not in place.
The most recent analyst rating on (AU:MPW) stock is a Buy with a A$4.10 price target. To see the full list of analyst forecasts on Metal Powder Works Limited stock, see the AU:MPW Stock Forecast page.
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 company’s remuneration and retention strategy, potentially aligning staff incentives more closely with long-term corporate performance and shareholder interests.
The most recent analyst rating on (AU:MPW) stock is a Buy with a A$4.10 price target. To see the full list of analyst forecasts on Metal Powder Works Limited stock, see the AU:MPW Stock Forecast page.
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 criteria, invitation and application procedures, terms and restrictions on dealing and hedging, vesting conditions, and record-keeping requirements, underscoring the company’s intention to use equity-based incentives to align employee interests with shareholders and support its long-term corporate and capital management strategy.
The most recent analyst rating on (AU:MPW) stock is a Buy with a A$4.10 price target. To see the full list of analyst forecasts on Metal Powder Works Limited stock, see the AU:MPW Stock Forecast page.
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, dated 29 December 2025 with escrow ending 29 December 2026, a move that formalizes director equity issuance and modestly expands its quoted capital base, potentially aligning management incentives more closely with shareholders ahead of the escrow expiry.
The most recent analyst rating on (AU:MPW) stock is a Buy with a A$4.10 price target. To see the full list of analyst forecasts on Metal Powder Works Limited stock, see the AU:MPW Stock Forecast page.
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, marginally increases the company’s quoted capital base and follows transactions previously flagged to the market in an Appendix 3B, signaling ongoing routine management of its listed securities rather than a major strategic shift.
The most recent analyst rating on (AU:MPW) stock is a Buy with a A$4.10 price target. To see the full list of analyst forecasts on Metal Powder Works Limited stock, see the AU:MPW Stock Forecast page.
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 and may reflect the exercise of options or conversion of existing instruments, signalling incremental capital raising or balance sheet restructuring rather than a major change in operations.
The most recent analyst rating on (AU:MPW) stock is a Buy with a A$4.10 price target. To see the full list of analyst forecasts on Metal Powder Works Limited stock, see the AU:MPW Stock Forecast page.
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 expected to be issued on 29 December 2025. The modest-sized equity issuance signals a targeted capital-raising move that will slightly expand the company’s share base and may provide incremental funding while not materially diluting existing shareholders, and the company has applied for quotation of the new securities on the ASX once issued.
The most recent analyst rating on (AU:MPW) stock is a Buy with a A$4.10 price target. To see the full list of analyst forecasts on Metal Powder Works Limited stock, see the AU:MPW Stock Forecast page.
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, targeted offer of up to 250 shares at $2.00 each, raising a maximum of $500 before costs from selected investors rather than the general public, streamlining the trading of new equity while minimally diluting existing shareholders and supporting the company’s capital management around its advanced metal powder technology portfolio.
The most recent analyst rating on (AU:MPW) stock is a Buy with a A$4.10 price target. To see the full list of analyst forecasts on Metal Powder Works Limited stock, see the AU:MPW Stock Forecast page.
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 Corporations Act. The company characterises the investment as speculative and emphasises that the prospectus outlines the background and purpose of the offer, its impact on the company’s capital structure, associated risk factors, and shareholder rights, signalling a formal step to enhance liquidity and tradability for existing shareholders while adhering to regulatory disclosure requirements.
The most recent analyst rating on (AU:MPW) stock is a Buy with a A$4.10 price target. To see the full list of analyst forecasts on Metal Powder Works Limited stock, see the AU:MPW Stock Forecast page.
Metal Powder Works Limited has released a presentation providing an overview of its current prospects and proposed development strategy. The announcement highlights the company’s strategic direction and acknowledges the inherent risks and uncertainties in forward-looking statements, emphasizing the need for independent assessment by stakeholders.
The most recent analyst rating on (AU:MPW) stock is a Sell with a A$2.00 price target. To see the full list of analyst forecasts on K-TIG Ltd stock, see the AU:MPW Stock Forecast page.
Metal Powder Works Limited has entered into a Powder Partnership Agreement with Austal USA, a subsidiary of Australia’s largest shipbuilder, Austal Limited. This partnership will leverage MPW’s DirectPowder™ Process to develop custom metal powder specifications for Austal USA’s additive manufacturing operations, particularly for the US Navy’s Additive Manufacturing Center of Excellence. The collaboration positions MPW within a strategic US Navy supply chain initiative, enhancing its market presence amid growing Department of Defense investments in additive manufacturing. The agreement sets the stage for a potential commercial offtake agreement, which would establish ongoing powder supply terms, thereby strengthening MPW’s role in the defense manufacturing sector.
The most recent analyst rating on (AU:MPW) stock is a Sell with a A$2.00 price target. To see the full list of analyst forecasts on K-TIG Ltd stock, see the AU:MPW Stock Forecast page.
Metal Powder Works Limited will host an investor webinar on December 17, 2025, to review its 2025 performance and discuss strategic priorities for 2026 and beyond. The webinar, led by Founder & Managing Director John Barnes, will cover key operational and commercial developments and include a live Q&A session. This event reflects MPW’s commitment to transparency and engagement with stakeholders, potentially impacting its market positioning and investor relations.
The most recent analyst rating on (AU:MPW) stock is a Sell with a A$2.00 price target. To see the full list of analyst forecasts on K-TIG Ltd stock, see the AU:MPW Stock Forecast page.
Metal Powder Works Limited has announced a significant expansion into the precious metal powders market with the successful production of high-purity silver powder using its patented DirectPowder™ process. This development positions MPW to supply critical industries such as electronics and vehicle electrification, enhancing domestic supply chains amid global market shifts. The company’s entry into the silver powder market aligns with its strategy to diversify into higher-margin products, leveraging its superior yield technology to offer competitive pricing and attractive margins. The global silver powder market is projected to exceed USD 2.1 billion by 2033, presenting a substantial growth opportunity for MPW.
The most recent analyst rating on (AU:MPW) stock is a Sell with a A$2.00 price target. To see the full list of analyst forecasts on K-TIG Ltd stock, see the AU:MPW Stock Forecast page.