NGX Limited (AU:NGX)
ASX:NGX
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NGX Limited
(Sydney:NGX)
Select Model
Select Model
Rating:42Neutral
Price Target:
AU$0.09
▼(-47.65% Downside)
Action:ReiteratedDate:03/27/26
The score is driven primarily by weak financial performance (large losses and ongoing cash burn), partially offset by a low-leverage balance sheet. Technicals add further downside pressure with a bearish moving-average setup and negative MACD, while valuation is constrained by negative earnings and no dividend support.
Positive Factors
Exchange-based recurring revenue model
NGX operates core capital-market infrastructure with listing, trading, post-trade and market-data services. These functions generate recurring, transaction- and subscription-style revenues and benefit from high switching costs and regulatory franchises, supporting durable cash inflows if volumes recover.
Negative Factors
Persistent substantial losses
Very large negative margins reflect operating costs far exceeding revenues, signaling structural profitability issues. Continued losses erode shareholder value, constrain reinvestment, and raise the probability of dilution or restructuring if management cannot materially narrow the gap between expenses and recurring revenues.
Read all positive and negative factors
Positive Factors
Negative Factors
Exchange-based recurring revenue model
NGX operates core capital-market infrastructure with listing, trading, post-trade and market-data services. These functions generate recurring, transaction- and subscription-style revenues and benefit from high switching costs and regulatory franchises, supporting durable cash inflows if volumes recover.
Read all positive factors
NGX Limited (NGX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
N/A
Dividend YieldN/A
Average Volume (3M)46.77K
Price to Earnings (P/E)―
Beta (1Y)-0.10
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)N/A
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 focuses on the exploration, development of graphite projects in Malawi. It holds 100% interest in the the Nanzeka Project, the Duwi Project, the Malingunde Project, and the Mabuwa project located in Malawi. The Company was incorporated...
How the Company Makes Money
NGX makes money primarily by monetizing exchange and market-infrastructure services provided through its operating subsidiaries. Key revenue streams typically include: (1) transaction-based fees earned when securities are traded on its exchange ve...
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% | |
45 Neutral | AU$16.58M | -3,062.78 | 5.86% | ― | ― | ― | |
45 Neutral | AU$5.63M | -0.39 | -330.13% | ― | ― | 61.60% | |
42 Neutral | ― | -4.83 | -29.53% | ― | ― | ― | |
42 Neutral | AU$5.12M | -5.18 | -18.13% | ― | ― | 21.62% | |
41 Neutral | AU$5.85M | -0.93 | -120.84% | ― | ― | -349.06% | |
| ― | AU$4.73M | -5.50 | -26.98% | ― | ― | 4.35% |
* Basic Materials Sector Average
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NGX Limited Corporate Events
NGX Limited Files Interim Half-Year Financial Report for 31 December 2025
Mar 5, 2026
NGX Limited has released its interim consolidated financial report for the half year ended 31 December 2025, providing shareholders with an update on its financial performance, cash flows and balance sheet position. The report includes the directo...
NGX Advances Graphite and Uranium Projects as Permitting Milestones and Study Work Bolster Clean Energy Portfolio
Jan 28, 2026
NGX Limited’s December 2025 quarterly report outlines progress on its natural graphite and uranium assets, reinforcing its positioning as a supplier of critical minerals for the clean energy sector. In Malawi, the company advanced an auger d...
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.