NGX Limited (AU:NGX)
ASX:NGX
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NGX Limited
(Sydney:NGX)
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Rating:44Neutral
Price Target:
AU$0.10
▼(-40.00% Downside)
Action:Reiterated
Date:04/24/26
The score is held down primarily by weak financial performance (ongoing large losses and cash burn), with bearish technicals adding further pressure. Valuation is not a clear positive because the negative P/E is driven by unprofitability and there is no dividend yield data to provide support.
Positive Factors
Low financial leverage
Zero reported debt and positive equity reduce solvency and refinancing risk, giving NGX a longer runway to absorb operating volatility. For a market infrastructure business, low leverage is a durable strength that supports continued operation, strategic investment, and negotiation flexibility.
Negative Factors
Persistent unprofitability
NGX remains loss-making across reported years, with 2025 showing very weak profitability. Chronic losses erode shareholder value, hinder retained-capital financing for growth, increase dilution risk from external funding, and challenge long-term sustainability absent durable margin recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Low financial leverage
Zero reported debt and positive equity reduce solvency and refinancing risk, giving NGX a longer runway to absorb operating volatility. For a market infrastructure business, low leverage is a durable strength that supports continued operation, strategic investment, and negotiation flexibility.
Read all positive factors
NGX Limited (NGX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$9.51M
Dividend YieldN/A
Average Volume (3M)46.77K
Price to Earnings (P/E)―
Beta (1Y)0.28
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.02
Shares Outstanding90,611,840
10 Day Avg. Volume85,654
30 Day Avg. Volume46,767
Financial Highlights & Ratios
PEG Ratio-0.34
Price to Book (P/B)1.17
Price to Sales (P/S)51.77
P/FCF Ratio-5.38
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)N/A
Revenue Forecast (FY)N/A
NGX Limited Business Overview & Revenue Model
Company Description
NGX Limited is primarily engaged in advancing and exploring graphite deposits situated in Malawi. The company possesses full ownership of four distinct graphite ventures within Malawi: the Nanzeka, Duwi, Malingunde, and Mabuwa projects. Establishe...
How the Company Makes Money
NGX Limited primarily makes money by charging fees tied to activity on its markets and the ongoing participation of issuers and market intermediaries. Key revenue streams include: (1) Listing-related fees: one-time fees when companies (and other i...
NGX Limited Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
60
Neutral
Cash Flow
22
Negative
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 233.18K | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 233.18K | 0.00 | 0.00 | -135.92K | 0.00 |
| EBITDA | -2.47M | -2.69M | -1.51M | -449.18K | 0.00 |
| Net Income | -2.50M | -2.39M | -3.49M | -585.10K | -656.00 |
Balance Sheet | |||||
| Total Assets | 10.50M | 12.82M | 15.36M | 40.00 | 0.00 |
| Cash, Cash Equivalents and Short-Term Investments | 3.81M | 5.98M | 8.75M | 0.00 | 0.00 |
| Total Debt | 0.00 | 0.00 | 34.85K | 549.72K | 106.41K |
| Total Liabilities | 167.26K | 139.49K | 350.21K | 694.54K | 109.41K |
| Stockholders Equity | 10.34M | 12.68M | 15.01M | -694.50K | -109.41K |
Cash Flow | |||||
| Free Cash Flow | -2.24M | -2.72M | -932.05K | 0.00 | 0.00 |
| Operating Cash Flow | -2.24M | -2.55M | -929.88K | 0.00 | 0.00 |
| Investing Cash Flow | 70.43K | -170.65K | 142.02K | 0.00 | 0.00 |
| Financing Cash Flow | 0.00 | -34.85K | 9.54M | 0.00 | 0.00 |
NGX Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
44 Neutral | AU$9.51M | -2.72 | -29.53% | ― | ― | ― | |
44 Neutral | AU$4.70M | -1.84 | -148.04% | ― | ― | -17.86% | |
44 Neutral | AU$5.87M | -4.98 | -13.70% | ― | ― | ― | |
43 Neutral | AU$4.20M | -0.91 | -318.64% | ― | ― | -179.17% | |
43 Neutral | AU$7.64M | -0.87 | -0.03% | ― | ― | -18.33% | |
41 Neutral | AU$4.20M | -0.12 | -139.83% | ― | ― | 57.55% |
* Basic Materials Sector Average
AU:NGX
NGX Limited
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-12.50%
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NGX Limited Corporate Events
NGX Advances Critical Minerals Portfolio While Curbing Spend Amid Soft Graphite Market
Apr 29, 2026
NGX Limited reported progress across its natural graphite and uranium exploration portfolio for the March 2026 quarter, underscoring its role in supplying minerals for the clean energy transition. The company completed a hand-auger drilling progra...
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.