PPK Group Limited (PPK) AI Stock Analysis

• Market Cap: AU$33.88M
• Dividend Yield: N/A
• Average Volume (3M): 33.19K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.79
• Revenue Growth: -13.93%
• EPS Growth: -209.39%
• Country: AU
• Employees: 421
• Sector: Industrials
• Sector Strength: 72
• Industry: Agricultural - Machinery
• EPS (TTM): 0.04
• Shares Outstanding: 90,812,500
• 10 Day Avg. Volume: 35,682
• 30 Day Avg. Volume: 33,188
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.52
• Price to Sales (P/S): 0.91
• P/FCF Ratio: -2.59
• 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: 47 Neutral
• Price Target: AU$0.37 ▼(-7.75% Downside)
• Action: Reiterated Date: 01/17/26
• Date: Action: Reiterated 01/17/26

The score is held down primarily by weak financial performance (ongoing losses and negative cash flows). Technical indicators are moderately supportive with price above key moving averages and a positive MACD, but valuation remains challenged due to a negative P/E and no provided dividend yield.

Positive Factors

Advanced materials commercialisation

PPK's strategic focus on graphene and advanced-materials commercialisation places it in structural growth markets with differentiated IP. Over 2-6 months this underpins multiple monetisation paths (product sales, services, equity realisations) if scale and contracts progress.

Conservative leverage / stable capital structure

A relatively low debt-to-equity position and reasonable equity ratio give PPK financial flexibility and lower solvency risk. This conservative structure supports continued R&D and commercialization spending without heavy interest burdens, preserving optionality across quarters.

Free cash flow conversion

Despite reported losses, a positive free-cash-flow-to-net-income metric shows PPK can convert accounting results into actual cash. That conversion capability improves runway, reduces immediate refinancing pressure, and supports ongoing commercialisation activities over the medium term.

Negative Factors

Negative operating and free cash flow

Persistent negative operating and free cash flows constrain PPK's ability to self-fund scale-up and operations. Over months this increases reliance on external capital, risking dilution, funding delays or slowed commercial progress if raise conditions are adverse.

Weak profitability and declining revenue trends

Declining revenue trends combined with negative EBIT and net margins indicate core operations are not yet profitable. Structurally this signals challenges in product-market fit, pricing, or cost control that must be resolved to achieve sustainable margins over the coming quarters.

Negative return on equity

A negative ROE means equity capital is not earning positive returns, reflecting value destruction from operations or investments. This undermines long-term investor confidence and indicates material work is needed to convert technological assets into profitable returns.

PPK Group Limited Business Overview & Revenue Model

Company Description

PPK Group Limited (PPK) is an Australian diversified industrial company that operates across multiple sectors, including technology, resources, and manufacturing. The company focuses on developing innovative solutions and products, particularly in the fields of advanced materials, industrial equipment, and technology-driven applications. PPK's core offerings include high-performance composite materials, specialized mining equipment, and various technological services aimed at enhancing operational efficiency and safety for its clients.

How the Company Makes Money

PPK generates revenue through several key streams, primarily from the sale of its advanced materials and manufacturing products. The company has established significant partnerships within the mining and industrial sectors, allowing it to provide tailored solutions that meet specific client needs. Additionally, PPK earns income through the provision of technology services, including consulting and support for the implementation of its products. The company also benefits from ongoing contracts and repeat business with existing customers, which contribute to its financial stability and growth.

PPK Group Limited Financial Statement Overview

Summary

Weak fundamentals: declining revenue trends, negative EBIT and net margins, and negative operating/free cash flow. The balance sheet is comparatively steadier with low leverage, but negative ROE signals poor shareholder returns.

Income Statement

PPK Group Limited has experienced declining revenue growth and negative profit margins over the past few years. The gross profit margin has been relatively stable, but the company has struggled with negative EBIT and net profit margins, indicating operational inefficiencies and challenges in achieving profitability.

Balance Sheet

The company's debt-to-equity ratio is relatively low, suggesting a conservative leverage position. However, the return on equity is negative, reflecting the company's inability to generate positive returns for shareholders. The equity ratio is reasonable, indicating a stable capital structure.

Cash Flow

PPK Group Limited has faced challenges with negative operating and free cash flows, impacting its ability to generate cash from operations. The free cash flow to net income ratio is positive, suggesting that despite losses, the company manages to convert some of its net income into free cash flow.

Breakdown	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	24.26M	28.19M	6.35M	1.65M	0.00
Gross Profit	7.11M	8.02M	2.91M	1.65M	-66.00K
EBITDA	-12.88M	-12.26M	-10.58M	-2.04M	-5.91M
Net Income	-21.55M	-10.74M	-7.82M	-2.56M	-5.48M
Balance Sheet
Total Assets	73.60M	122.85M	135.58M	120.98M	96.60M
Cash, Cash Equivalents and Short-Term Investments	5.06M	30.35M	40.00M	53.01M	30.36M
Total Debt	9.88M	10.41M	9.67M	4.06M	399.00K
Total Liabilities	28.51M	28.93M	29.87M	8.39M	8.34M
Stockholders Equity	41.93M	67.74M	75.58M	81.51M	76.65M
Cash Flow
Free Cash Flow	-8.48M	-18.49M	-16.68M	-15.53M	-5.47M
Operating Cash Flow	-6.90M	-9.91M	-9.55M	-7.83M	-2.39M
Investing Cash Flow	-16.81M	-2.53M	-3.73M	-3.81M	-6.41M
Financing Cash Flow	421.00K	793.00K	272.00K	34.28M	34.37M

PPK Group Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.40
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:PPK, the sentiment is Negative. The current price of 0.4 is above the 20-day moving average (MA) of 0.40, below the 50-day MA of 0.42, and below the 200-day MA of 0.42, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 42.11 is Neutral, neither overbought nor oversold. The STOCH value of 18.18 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:PPK.

PPK Group Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WWG	74 Outperform	AU$61.98M	11.08	20.77%	4.55%	66.80%	625.00%
IPG	73 Outperform	AU$542.78M	20.13	16.64%	2.93%	22.13%	9.16%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
AVA	50 Neutral	AU$15.43M	-2.02	-25.77%	―	4.84%	-12.12%
DEM	49 Neutral	AU$32.66M	-14.71	-16.00%	―	11.53%	46.15%
PPK	47 Neutral	AU$33.88M	-2.31	-51.10%	―	-13.93%	-209.39%

PPK Group Limited Corporate Events

PPK Group Returns to Profit on Li-S Energy Revaluation and Energy Storage Growth

PPK Group Limited has swung to a profit for the six months to 31 December 2025, reporting $10.5 million after tax versus a loss a year earlier, helped by a partial reversal of a prior impairment on its Li-S Energy stake and stronger contributions from key investments. Revenue from continuing operations rose 31% to $15.9 million, net tangible assets per share increased nearly 23%, and the group continued to simplify its balance sheet by deconsolidating White Graphene while shifting both White Graphene and Li-S Energy to equity-accounted associates.

PowerPlus Energy delivered 32% revenue growth to $15.7 million in the half and broadened its product range into residential and larger commercial and industrial battery systems, with further revenue and margin gains expected in the second half. Craig International Ballistics maintained solid profitability and order books, while Li-S Energy advanced battery manufacturing capabilities, secured significant grant funding and collaboration agreements, supporting PPK’s positioning in defence and advanced energy technologies despite some gains being non-cash in nature.

The most recent analyst rating on (AU:PPK) stock is a Hold with a A$0.39 price target. To see the full list of analyst forecasts on PPK Group Limited stock, see the AU:PPK Stock Forecast page.

PPK Group Swings to Half-Year Profit on Nanomaterials Restructuring and Impairment Reversal

PPK Group Limited reported a sharp turnaround for the half-year to 31 December 2025, moving from a prior statutory loss to a profit of $10.5 million attributable to shareholders, supported by a 31% rise in revenue and a substantial swing in continuing operations back into the black. The result was heavily influenced by non-cash items, including a sizeable gain from the deconsolidation of White Graphene Ltd, a reversal of prior impairment on its Li-S Energy stake, and the reclassification of key nanomaterials holdings as associates, while the board opted against paying an interim dividend.

Despite the headline profit, PPK’s underlying performance before tax remained loss-making, with the group posting an unaudited underlying pre-tax loss of $1.8 million once non-operating and non-cash impacts were stripped out. The restructuring of its portfolio, including the merger of White Graphene and BNNT Technology into a single nanomaterials business and reduced control over that asset, signals an ongoing shift toward an associate-investment model in advanced materials and energy storage, with implications for future earnings volatility and the balance between recurring operating returns and valuation-driven gains.

The most recent analyst rating on (AU:PPK) stock is a Hold with a A$0.39 price target. To see the full list of analyst forecasts on PPK Group Limited stock, see the AU:PPK Stock Forecast page.

PPK Consolidates Control of PowerPlus Energy

PPK Group has lifted its ownership of PowerPlus Energy to 75.4% after purchasing an additional 24.4% stake from a founding shareholder as part of a settlement, leaving it with 65.3% on a fully diluted basis. The low-cash transaction consolidates control over the battery systems subsidiary and strengthens PPK’s operational influence without invoking previously announced pricing mechanisms.

The most recent analyst rating on (AU:PPK) stock is a Hold with a A$0.41 price target. To see the full list of analyst forecasts on PPK Group Limited stock, see the AU:PPK Stock Forecast page.

PPK Group Ends Litigation with $747,000 Costs Settlement

PPK Group Limited has reached a settlement regarding costs in the legal matter of Flynn & Anor v PPK Mining Equipment Pty Ltd & Anor, agreeing to pay $747,000 in full and final settlement of all claims. The payment brings the litigation to a close, removing a source of legal uncertainty for the company and drawing a line under all matters connected to the proceedings, which may provide greater clarity for stakeholders assessing PPK’s ongoing obligations and risk profile.

The most recent analyst rating on (AU:PPK) stock is a Hold with a A$0.36 price target. To see the full list of analyst forecasts on PPK Group Limited stock, see the AU:PPK Stock Forecast page.

PPK Group Announces Director Departure

PPK Group Limited has announced the cessation of Marc Wayne Fenton as a director, effective December 5, 2025. This change in the board of directors may impact the company’s strategic direction and stakeholder relationships, as Fenton held vested performance rights and shares through MJGBAP Pty Ltd and the MJGB Family Trust.

The most recent analyst rating on (AU:PPK) stock is a Hold with a A$0.36 price target. To see the full list of analyst forecasts on PPK Group Limited stock, see the AU:PPK Stock Forecast page.