Multistack International Limited (MSI) AI Stock Analysis

• Market Cap: AU$545.22K
• Dividend Yield: N/A
• Average Volume (3M): N/A
• Price to Earnings (P/E): ―
• Beta (1Y): 0.78
• Revenue Growth: -55.07%
• EPS Growth: N/A
• Country: AU
• Employees: 7
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): 0.02
• Shares Outstanding: 136,303,920
• 10 Day Avg. Volume: N/A
• 30 Day Avg. Volume: N/A
• PEG Ratio: >-0.01
• Price to Book (P/B): -0.14
• Price to Sales (P/S): 1.46
• P/FCF Ratio: -1.11
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: AU$0.01 ▲(30.00% Upside)

The score is primarily driven down by very weak financial performance (sharp 2024 revenue decline, sustained losses, negative equity, and continued negative operating/free cash flow). Technical and valuation inputs are largely unavailable, so they contribute only neutral impact due to insufficient data.

Positive Factors

Gross Margin Improvement

The improvement in gross margin indicates better cost management or pricing power, which could support future profitability if revenue stabilizes.

Positive Cash Flow Event

The positive cash flow from a settlement provides temporary relief and demonstrates the company's ability to secure external financial support.

Operational Restructuring

Discontinuing unprofitable operations may allow the company to focus on more viable segments, potentially improving long-term sustainability.

Negative Factors

Revenue Decline

A significant revenue decline indicates a loss of market position or demand, challenging the company's ability to sustain operations without restructuring.

Negative Equity

Negative equity reflects accumulated losses, reducing financial flexibility and increasing the risk of insolvency without external funding.

Cash Flow Challenges

Consistently negative cash flow indicates ongoing operational inefficiencies and reliance on external funding, threatening long-term viability.

Multistack International Limited Business Overview & Revenue Model

Company Description

Multistack International Limited markets and distributes industrial air conditioning equipment primarily in Australia. The company sells and services Multistack water-cooled and air-cooled water chillers for use in commercial air-conditioning and process cooling applications. It also markets and distributes organic rankine cycle engines; oil-free turbo expanders; and distributes heat exchangers, as well as provides technical and after sales support services. Multistack International Limited was incorporated in 1989 and is headquartered in Moorabbin, Australia.

How the Company Makes Money

MSI generates revenue primarily through the sale of its HVAC products and solutions. The company's key revenue streams include the design and manufacturing of air conditioning systems, refrigeration units, and related components, which are sold to commercial and industrial customers worldwide. Additionally, MSI derives income from providing maintenance and support services for its products, ensuring optimal performance and customer satisfaction. Strategic partnerships with suppliers and distributors also play a crucial role in expanding its market reach and enhancing its revenue potential. The company's focus on energy efficiency and environmental sustainability aligns with global trends, further driving demand for its offerings.

Multistack International Limited Financial Statement Overview

Summary

Multistack International Limited faces significant financial challenges, showing consistent losses, high leverage, and declining asset and revenue bases. The company’s income statement, balance sheet, and cash flow all indicate severe operational inefficiencies and financial distress, requiring immediate strategic restructuring.

Income Statement

The income statement shows significant challenges in profitability and revenue growth. The company has a negative net income consistently, with a deteriorating revenue trend over the recent years. Gross Profit Margins are also fluctuating, indicating instability in cost management or pricing strategies. EBIT and EBITDA margins are negative, reflecting operational inefficiencies.

Balance Sheet

The balance sheet reflects strong financial distress with a negative stockholders' equity, indicating accumulated losses surpassing total assets. Debt-to-Equity ratios are not meaningful due to negative equity, and the company is highly leveraged, increasing financial risk. Assets are declining, and there is a significant negative equity position.

Cash Flow

Cash flow analysis shows consistent negative operating and free cash flows, indicating the company is not generating sufficient cash from operations. The Operating Cash Flow to Net Income Ratio is negative, showing cash flow issues and profitability concerns. Despite financing activities, the cash flow position remains weak.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	225.18K	374.03K	1.76M	632.80K	643.85K	600.82K
Gross Profit	75.86K	120.32K	-74.19K	329.89K	114.01K	125.89K
EBITDA	-828.19K	-1.39M	-668.00K	-859.00K	-931.00K	-1.23M
Net Income	1.86M	-1.68M	-892.00K	-1.83M	-1.13M	-368.00K
Balance Sheet
Total Assets	1.71M	3.80M	3.30M	5.05M	5.59M	4.77M
Cash, Cash Equivalents and Short-Term Investments	1.54M	975.61K	646.82K	1.47M	2.02M	1.01M
Total Debt	918.46K	4.91M	3.37M	3.49M	3.40M	2.38M
Total Liabilities	2.88M	7.65M	5.47M	6.33M	5.04M	4.29M
Stockholders Equity	-1.17M	-3.86M	-2.18M	-1.29M	546.08K	479.05K
Cash Flow
Free Cash Flow	1.64M	-493.31K	-729.87K	-2.79M	-530.21K	-364.10K
Operating Cash Flow	1.64M	-493.31K	-729.87K	-2.79M	-530.21K	-296.23K
Investing Cash Flow	0.00	0.00	634.00	641.26K	25.95K	-2.57M
Financing Cash Flow	-1.26M	822.10K	-93.38K	-91.55K	1.52M	2.64M

Multistack International Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ZGL	70 Outperform	AU$32.34M	3.54	13.07%	―	13.43%	22.19%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
3DA	55 Neutral	AU$304.83M	-8.16	-59.01%	―	722.02%	-0.77%
MSG	45 Neutral	AU$1.39M	-5.50	-61.10%	―	―	51.22%
MSI	43 Neutral	AU$545.22K	―	―	―	-55.07%	―
AEI	41 Neutral	AU$13.07M	-3.15	―	―	-0.52%	-38.84%

Multistack International Limited Corporate Events

Multistack International to Discontinue Current Business Operations Amid Financial Challenges

Multistack International Limited reported no sales of chillers in the third quarter of 2025, only generating revenue from spare parts. The company has decided to discontinue its current business operations due to ongoing losses and the inability to secure necessary capital. It plans to sell its shares in Multistack Australia, subject to agreements and approvals, while continuing to operate as a going concern and meeting reporting obligations.

Multistack International Reports Positive Cash Flow Amid High Costs

Multistack International Limited reported a net cash inflow from operating activities of $1.53 million for the nine months ending September 2025, largely due to a significant settlement from Danfoss. Despite this positive cash flow, the company faced substantial expenses in staff and administrative costs, impacting its overall cash position. The announcement highlights the company’s ongoing financial management challenges and its reliance on settlements to bolster cash reserves.