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Volt Power Group Ltd (AU:VPR)
ASX:VPR
Australian Market

Volt Power Group Ltd (VPR) AI Stock Analysis

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AU:VPR

Volt Power Group Ltd

(Sydney:VPR)

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Neutral 60 (OpenAI - 5.2)
Rating:60Neutral
Price Target:
AU$0.14
â–²(1.43% Upside)
Action:ReiteratedDate:03/24/26
The score is anchored by solid financial stability from a low-debt balance sheet and sustained profitability in recent years, but is held back by 2025’s sharp margin step-down and inconsistent cash conversion. Technically, the stock shows a weak trend (below major moving averages with negative MACD), and valuation looks demanding with a ~31.8 P/E and no stated dividend yield.
Positive Factors
Low-leverage balance sheet
Sustained low leverage gives Volt structural financial flexibility to fund working capital, acquisitions and cyclical contract timing without large interest burdens. A conservative debt profile reduces refinancing risk and supports strategic moves in the 2–6 month horizon.
Acquisition diversifies revenue and tech platform
Buying 4D Delta materially diversifies Volt’s revenue mix toward software/digital inspection with Tier‑1 customers and near-term revenue/EBITDA contribution. This structural shift lowers concentration risk and creates scalable, higher-margin service opportunities over coming months.
Strengthened corporate governance
Formalised board roles, director evaluation and disclosure processes increase oversight of strategy, capital allocation and risk. Stronger governance is a durable positive for investor confidence and disciplined decision-making as Volt integrates acquisitions and scales operations.
Negative Factors
Sharp margin compression and revenue decline
Steep year‑over‑year margin deterioration and falling revenue show earnings are sensitive to product mix, pricing and one-off items. If margin drivers aren’t restored, persistent lower profitability will limit internal funding, return on equity and long‑term value creation.
Inconsistent free cash flow conversion
Mixed cash conversion and historical FCF volatility (including negative years) create uncertainty around sustainable cash available for reinvestment or debt servicing. This structural variability can force external funding or constrain growth initiatives when working capital needs spike.
Recent equity issuance increases dilution risk
Large placement and multiple share issues as acquisition consideration materially expanded the share base. Structural dilution reduces per‑share economic claims and may depress earnings per share and shareholder returns unless acquisition synergies rapidly offset the enlarged capital base.

Volt Power Group Ltd (VPR) vs. iShares MSCI Australia ETF (EWA)

Volt Power Group Ltd Business Overview & Revenue Model

Company DescriptionVolt Power Group Ltd (VPR) is a dynamic company focused on providing innovative energy solutions, particularly in the renewable energy sector. The company specializes in developing advanced technologies and services aimed at enhancing energy efficiency and lowering costs for both industrial and commercial clients. VPR’s core offerings include energy management systems, battery storage solutions, and consulting services that assist organizations in transitioning to more sustainable energy practices.

Volt Power Group Ltd Financial Statement Overview

Summary
Financial profile is supported by a very low-leverage balance sheet (debt-to-equity ~0.06) and a clear profitability turnaround since 2020–2022. However, operating performance is less consistent: 2025 revenue declined vs 2024 and margins compressed sharply (gross margin 83.1% to 36.1%, net margin 24.3% to 8.9%). Cash flow is positive but uneven, with free cash flow materially below net income and a history of volatility.
Income Statement
64
Positive
Profitability is currently positive, with 2025 showing an 8.9% net margin and positive operating profit, following strong 2024 results (24.3% net margin). However, revenue declined in 2025 versus 2024, and margins compressed sharply year-over-year (gross margin fell from 83.1% to 36.1%), suggesting earnings are sensitive to mix/pricing and less stable than the prior year. The longer history shows a turnaround from losses in 2020–2022 to profits in 2023–2025, but with notable volatility.
Balance Sheet
82
Very Positive
The balance sheet looks conservatively financed with low leverage: debt-to-equity is ~0.06 in 2025 (down from ~0.16 in 2023), providing flexibility in a cyclical/contract-driven business. Equity has grown over time alongside rising assets, and returns on equity remain positive in recent years (6.6% in 2025, 20.9% in 2024). The main drawback is that profitability on equity has cooled materially from 2024, which may limit value creation if lower margins persist.
Cash Flow
58
Neutral
Operating cash flow is solid and improved in 2025 (about 2.09M vs 1.90M in 2024), and free cash flow stayed positive in 2024–2025. That said, cash conversion is mixed: free cash flow is less than half of net income in both 2024 and 2025, and free cash flow growth in 2025 swung sharply negative versus 2024. History also shows uneven free cash flow (notably negative in 2020 and 2023), indicating cash generation can fluctuate with working capital and investment needs.
BreakdownDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue5.10M5.56M5.03M3.26M3.06M
Gross Profit1.84M4.62M2.23M1.04M973.76K
EBITDA1.01M1.99M1.44M-55.23K500.46K
Net Income453.92K1.35M607.68K-345.26K663.57K
Balance Sheet
Total Assets11.08M8.62M7.96M6.77M5.79M
Cash, Cash Equivalents and Short-Term Investments4.76M2.28M1.55M2.27M1.88M
Total Debt425.19K642.74K922.35K806.12K383.50K
Total Liabilities4.20M2.16M2.26M2.35M1.44M
Stockholders Equity6.88M6.46M5.69M4.42M3.70M
Cash Flow
Free Cash Flow933.40K882.51K-566.23K78.29K72.34K
Operating Cash Flow2.09M1.90M1.49M1.59M1.17M
Investing Cash Flow-1.35M-1.02M-2.07M-1.69M124.44K
Financing Cash Flow1.75M-155.41K-145.88K495.56K-78.20K

Volt Power Group Ltd Peers Comparison

Overall Rating
UnderperformOutperform
Sector (66)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
66
Neutral
$17.65B18.105.60%3.62%6.62%11.55%
60
Neutral
AU$22.09M31.826.92%―-11.85%6.25%
44
Neutral
AU$22.83M-3.24-13.64%―-8.52%13.51%
―AU$12.87M0.05-31.05%――91.54%
47
Neutral
AU$16.51M-2.88-7.75%――7.58%
44
Neutral
AU$7.07M-0.61-108.64%――-15.24%
43
Neutral
AU$20.71M-4.53-129.44%―-29.97%-284.16%
* Utilities Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:VPR
Volt Power Group Ltd
0.14
0.02
17.39%
AU:CCE
Carnegie Clean Energy Ltd
0.06
0.02
51.35%
AU:JNS
ReNu Energy Limited
0.11
-0.09
-45.00%
AU:DEL
Delorean Corporation Ltd
0.09
-0.09
-47.78%
AU:14D
1414 Degrees Ltd.
0.02
>-0.01
-10.53%
AU:BTE
Botala Energy Ltd.
0.05
-0.01
-18.33%

Volt Power Group Ltd Corporate Events

Volt Group Director Adam Boyd Increases Shareholding via On-Market Purchase
Mar 23, 2026

Volt Group Limited has disclosed a change in director Adam Boyd’s interest in the company’s securities following an on-market trade. Boyd acquired 500,000 fully paid ordinary shares at $0.14 per share through one of his indirect entities, increasing that entity’s holding to 10,090,370 shares while his other direct and indirect holdings and existing options remain unchanged.

The transaction signals a modest increase in insider ownership, which may be interpreted by investors as a vote of confidence in Volt Group’s prospects. While the acquisition does not alter the company’s broader capital structure materially, it slightly strengthens Boyd’s overall equity position and could be of interest to shareholders monitoring director alignment with investor interests.

The most recent analyst rating on (AU:VPR) stock is a Hold with a A$0.15 price target. To see the full list of analyst forecasts on Volt Power Group Ltd stock, see the AU:VPR Stock Forecast page.

Volt Power Flags Speculative Risk and Extensive Disclaimers in FY25 Results Document
Mar 2, 2026

Volt Power Group Ltd has released an information document outlining its FY25 full-year results framework, emphasising that the material is for informational purposes only and does not constitute an offer, prospectus or financial product advice. The company underscores extensive liability disclaimers, highlights the speculative nature of any investment in its securities, and cautions that forward-looking statements are subject to significant risks and uncertainties, reinforcing that investors should rely on their own legal, tax and financial advice before making decisions.

The release stresses that the information is current only as at its stated date, may change without notice and should not be relied upon as complete or definitive for valuation or investment purposes. By reiterating that no party, including directors and advisers, guarantees the accuracy or completeness of the data or outcomes implied by forward-looking commentary, Volt seeks to manage legal exposure and frame investor expectations around the inherent volatility and risk profile of its business and sector.

The most recent analyst rating on (AU:VPR) stock is a Hold with a A$0.15 price target. To see the full list of analyst forecasts on Volt Power Group Ltd stock, see the AU:VPR Stock Forecast page.

Volt Power cushions earnings dip with strategic 4D Delta acquisition
Feb 26, 2026

Volt Power Group reported an 8% decline in FY25 ordinary revenue to $5.1 million and a 17% fall in adjusted EBITDA to $1.4 million, largely due to lower Wescone Africa sales during a distributor transition and one-off transaction costs. Net operating cash flow, however, rose 10% to $2.09 million, indicating improving underlying cash generation despite a 66% drop in profit attributable to members to $0.45 million.

The company completed the $7.25 million acquisition of 4D Delta, funded in part by a $4 million equity raising, adding a fourth, immediately revenue-generating business unit with forecast FY26 revenue of about $4.2–$4.7 million and EBITDA of $1.3–$1.6 million. Management positions the deal as a major strategic step that strengthens Volt’s balance sheet, diversifies its technology platform across four units and enhances growth prospects in the resources technology market, with opportunities to scale 4D Delta domestically and overseas.

The most recent analyst rating on (AU:VPR) stock is a Buy with a A$0.19 price target. To see the full list of analyst forecasts on Volt Power Group Ltd stock, see the AU:VPR Stock Forecast page.

Volt Group Tightens Governance Framework in Line with ASX Principles
Feb 26, 2026

Volt Group Limited has detailed its corporate governance framework, confirming alignment with the ASX Corporate Governance Council’s fourth-edition principles and tailoring its practices to the company’s current scale and complexity. The board remains responsible for strategic direction, risk oversight and major capital decisions, while management implements strategy within board-approved risk parameters and provides regular financial and operational reporting.

The statement outlines processes for appointing and evaluating directors and the chief executive, including formal appointment letters, background checks and mandatory shareholder ratification at annual meetings. By formalising board roles, performance assessment, re-election rules and continuous disclosure oversight, Volt aims to strengthen transparency, regulatory compliance and long-term shareholder value protection, which may bolster investor confidence in its governance standards.

The most recent analyst rating on (AU:VPR) stock is a Buy with a A$0.19 price target. To see the full list of analyst forecasts on Volt Power Group Ltd stock, see the AU:VPR Stock Forecast page.

Volt Group Profit Slumps Despite Lift in Net Asset Backing
Feb 26, 2026

Volt Group Limited reported a decline in revenue and profit for the year ended 31 December 2025, with revenue from ordinary activities falling 8% to $5.1 million and profit attributable to members dropping 66% to $453,919 compared with the prior year. Despite weaker earnings, the company’s net tangible asset per share rose 15% to $0.06, and the board again decided not to declare a dividend, indicating a continued focus on retaining capital within the business.

The audited annual results suggest a year of subdued trading conditions or higher costs weighing on profitability, even as the balance sheet position per share showed some improvement. The absence of dividend payments may signal management’s intention to preserve cash for operations or future investments, a stance that could affect income-focused shareholders but potentially support longer-term strategic initiatives.

The most recent analyst rating on (AU:VPR) stock is a Buy with a A$0.19 price target. To see the full list of analyst forecasts on Volt Power Group Ltd stock, see the AU:VPR Stock Forecast page.

Volt Power Group Delivers Record Revenue and Closes 4D Delta Tech Acquisition
Jan 30, 2026

Volt Power Group reported record calendar 2025 ordinary revenue receipts of about $5.45 million, up 4.1% year-on-year, and net cash from operations of $2.1 million, driven by steady performance from Wescone and EcoQuip and improved cash at bank of $2.76 million by year-end. Wescone delivered slightly higher full-year revenue and has secured roughly $1.0 million in crusher orders for early 2026, while EcoQuip grew revenues 9% and is shifting focus to sales and fleet expansion as major mining clients like Westgold and Thiess roll out its mobile solar light and communications towers, reinforcing the economics of solar over diesel. The company completed the highly strategic $7.25 million acquisition of 4D Delta in early January 2026, alongside a $4.0 million equity raising, adding a profitable, scalable software and digital inspection platform with a Tier 1 customer base and significant growth potential, which materially diversifies Volt’s earnings profile and positions it as a more technology-enabled service provider to the global resources industry.

The most recent analyst rating on (AU:VPR) stock is a Buy with a A$0.19 price target. To see the full list of analyst forecasts on Volt Power Group Ltd stock, see the AU:VPR Stock Forecast page.

Volt Group Options Lapse, Trimming Potential Share Dilution
Jan 18, 2026

Volt Group Limited has notified the market that 750,000 options (VPRAE), which were due to expire on 16 November 2025 with an exercise price of A$0.429, have lapsed unexercised as of 17 November 2025, resulting in a reduction of its pool of outstanding convertible securities. The cessation of these options marginally simplifies Volt’s capital structure and removes a small potential source of future share dilution, offering greater clarity to existing shareholders regarding the company’s fully diluted equity base.

The most recent analyst rating on (AU:VPR) stock is a Buy with a A$0.19 price target. To see the full list of analyst forecasts on Volt Power Group Ltd stock, see the AU:VPR Stock Forecast page.

Volt Group Completes 4D Delta Acquisition and $4m Capital Raising
Jan 7, 2026

Volt Group Limited has completed the acquisition of 4D Delta Pty Ltd, finalising a transaction first outlined in November 2025 as part of its strategy to expand its business platform. Concurrently, the company has closed a $4.0 million share placement, strengthening its balance sheet and providing additional capital to support integration of the acquisition and future growth initiatives, with implications for its scale and positioning in its target markets.

The most recent analyst rating on (AU:VPR) stock is a Hold with a A$0.15 price target. To see the full list of analyst forecasts on Volt Power Group Ltd stock, see the AU:VPR Stock Forecast page.

Volt Group Issues New Shares for Placement and 4D Delta Acquisition
Jan 7, 2026

Volt Group Limited has issued 29,629,630 fully paid ordinary shares under a previously announced placement and a further 26,851,852 fully paid ordinary shares as part consideration for its acquisition of 4D Delta. The company has confirmed that these new shares were issued without a disclosure document under relevant Corporations Act provisions, and has stated it is fully compliant with its financial reporting and continuous disclosure obligations and that there is no excluded information requiring disclosure, thereby enabling the new securities to trade freely and providing assurance to investors regarding regulatory compliance.

The most recent analyst rating on (AU:VPR) stock is a Hold with a A$0.15 price target. To see the full list of analyst forecasts on Volt Power Group Ltd stock, see the AU:VPR Stock Forecast page.

Volt Group MD Adam Boyd Lifts Stake in Share Placement
Jan 7, 2026

Volt Group Limited has disclosed a significant increase in Managing Director Adam Boyd’s shareholding following a share placement approved by shareholders. Boyd and his associated entities acquired a total of 7,407,407 fully paid ordinary shares at $0.135 per share on 6 January 2026, lifting his direct and indirect holdings across various entities, while his existing 3,000,000 unlisted options remain unchanged. The transaction underscores ongoing insider support for the company’s capital structure and may be read by investors as a vote of confidence in Volt Group’s strategic direction and future prospects.

The most recent analyst rating on (AU:VPR) stock is a Hold with a A$0.15 price target. To see the full list of analyst forecasts on Volt Power Group Ltd stock, see the AU:VPR Stock Forecast page.

Volt Group Issues 2 Million Unlisted Options as Part of Capital Management
Jan 7, 2026

Volt Group Limited (ASX: VPR) has notified the market of a new issuance of unquoted equity securities in the form of 2,000,000 unlisted options, exercisable at $0.2025 and expiring on 29 December 2028. The options, which were previously flagged in an earlier capital-related filing, are not intended to be quoted on the ASX, signalling a targeted incentive or funding-related structure rather than a broad public equity raising, and may impact dilution and capital management considerations for existing stakeholders over the medium term.

The most recent analyst rating on (AU:VPR) stock is a Hold with a A$0.15 price target. To see the full list of analyst forecasts on Volt Power Group Ltd stock, see the AU:VPR Stock Forecast page.

Volt Group Seeks ASX Quotation for 26.9 Million New Shares
Jan 7, 2026

Volt Group Limited has applied to the ASX for quotation of 26,851,852 new fully paid ordinary shares (ASX code: VPR), issued on 6 January 2026. The application formalises the listing of these securities, which were previously notified to the market, and will expand the company’s quoted share base, potentially affecting liquidity and the holdings of existing and new investors once trading in the new shares commences.

The most recent analyst rating on (AU:VPR) stock is a Hold with a A$0.15 price target. To see the full list of analyst forecasts on Volt Power Group Ltd stock, see the AU:VPR Stock Forecast page.

Volt Group Seeks ASX Quotation for 29.6 Million New Shares
Jan 7, 2026

Volt Group Limited has applied to the ASX for quotation of 29,629,630 new ordinary fully paid shares under its issuer code VPR, with an issue date of 6 January 2026. The application, lodged as a new announcement on 7 January 2026, formalises the listing of these securities that were issued as part of previously announced transactions, potentially expanding the company’s free float and liquidity for existing and new shareholders.

The most recent analyst rating on (AU:VPR) stock is a Hold with a A$0.15 price target. To see the full list of analyst forecasts on Volt Power Group Ltd stock, see the AU:VPR Stock Forecast page.

Volt Group Wins Overwhelming Shareholder Backing for Capital Raising Resolutions
Dec 29, 2025

Volt Group Limited has secured strong shareholder backing at its 29 December 2025 general meeting for a series of equity-related resolutions aimed at supporting its capital management and governance framework. All resolutions put to the vote, including the issue of consideration shares, capital raising shares, specific share issues to directors and related parties (except one resolution not put to the meeting), and a Section 195 approval, were carried with overwhelming majorities, generally above 99% support on the poll, underscoring solid investor confidence in the board’s capital raising initiatives and governance processes.

The most recent analyst rating on (AU:VPR) stock is a Hold with a A$0.15 price target. To see the full list of analyst forecasts on Volt Power Group Ltd stock, see the AU:VPR Stock Forecast page.

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.Date of analysis: Mar 24, 2026