CAP-XX Ltd (CPX) AI Stock Analysis

• Market Cap: £14.20M
• Dividend Yield: N/A
• Average Volume (3M): 40.76M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.83
• Revenue Growth: 3.38%
• EPS Growth: 82.76%
• Country: UK
• Employees: 22
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 0.00
• Shares Outstanding: 5,797,326,700
• 10 Day Avg. Volume: 29,911,022
• 30 Day Avg. Volume: 40,762,136
• PEG Ratio: 0.07
• Price to Book (P/B): 3.27
• Price to Sales (P/S): 4.43
• P/FCF Ratio: -8.61
• 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: 46 Neutral
• Price Target: 0.26p ▲(8.33% Upside)
• Action: Upgraded Date: 02/10/26
• Date: Action: Upgraded 02/10/26

The score is held down primarily by weak financial performance—large losses, negative operating cash flow, and declining free cash flow despite modest revenue growth. Technicals provide only partial support (RSI near 61 and above short-term averages, but slightly negative MACD and below the 100-day average). Valuation is neutral-to-unclear due to a negative P/E and no dividend yield data.

Positive Factors

Proprietary Supercapacitor Technology

CAP-XX's core technology — thin prismatic supercapacitors with high power density and long cycle life — represents a durable product differentiation. That engineering advantage supports long-term demand in high-cycle, fast-charge applications and creates licensing and OEM integration leverage across sectors.

Established OEM Partnerships

Existing partnerships with automotive and consumer-electronics OEMs provide stable commercial channels and validation. These relationships reduce go‑to‑market friction, enable co-development, and increase the likelihood of durable revenue streams as structural demand for energy-dense, fast-charge components grows.

Conservative Leverage

A low debt-to-equity ratio and healthy equity ratio reduce solvency risk and give management flexibility to fund R&D, absorb demand volatility, or pursue partnerships without immediate refinancing pressure. This balance-sheet strength supports longer-term strategic initiatives and operational resilience.

Negative Factors

Severely Negative Profitability

Deep, persistent negative margins indicate structural inability to convert sales into operating profit. Over months this undermines reinvestment capacity, signals pricing or cost-structure problems, and suggests the business model currently lacks scalable unit economics without major operational or commercial change.

Weak Cash Flow Generation

Ongoing negative operating cash flow and a sharp decline in free cash flow reduce financial flexibility and raise the likelihood of external financing needs. This constrains capital allocation to manufacturing scale‑up, R&D, and customer fulfilment, threatening medium‑term execution of growth strategies.

Limited Scale / Small Team

A very small employee base limits in‑house manufacturing, engineering and commercial bandwidth. For capital‑intensive and scale‑sensitive markets like automotive and consumer electronics, limited internal capacity increases dependency on partners and outsourcing, raising execution risk as orders scale.

CAP-XX Ltd Business Overview & Revenue Model

Company Description

CAP-XX Limited, together with its subsidiaries, develops, manufactures, and sells supercapacitors primarily in the Asia Pacific, Europe, and North America. It offers DMF, DMH, DMT, ultra-thin prismatic, and cylindrical cell supercapacitors. The company provides its products for the use in various applications, such as asset tracking, auto, locks, PDAs, scanners, smart meters, wearable devices, wireless sensors, battery support, energy harvesting, power backup, and peak power support applications. The company was formerly known as Energy Storage Systems Pty Limited and changed its name to CAP-XX Limited. CAP-XX Limited was incorporated in 1990 and is headquartered in Seven Hills, Australia.

How the Company Makes Money

CAP-XX generates revenue primarily through the sale of its supercapacitors and energy storage solutions to manufacturers in various sectors. The company has established key partnerships with major players in the automotive and consumer electronics markets, which enhances its market reach and drives sales. Additionally, CAP-XX may earn revenue through licensing agreements for its proprietary technology, as well as from ongoing research and development projects that lead to innovative product offerings. The demand for energy-efficient and high-performance storage solutions, particularly in electric vehicles and portable electronics, further contributes to the company's earnings.

CAP-XX Ltd Financial Statement Overview

Summary

Financials are weak overall: revenue grew 4.06% but profitability is a major issue (net margin -79.48% with consistently negative EBIT/EBITDA). Balance sheet leverage is manageable (debt-to-equity 0.26; equity ratio 60.59%) but ROE is deeply negative (-58.61%). Cash generation is pressured with negative operating cash flow and free cash flow down -51.09%.

Income Statement

CAP-XX Ltd shows modest revenue growth of 4.06% in the latest year, but profitability remains a significant concern with a negative net profit margin of -79.48%. The company has consistently reported negative EBIT and EBITDA margins, indicating ongoing operational challenges. Despite a slight improvement in revenue, the gross profit margin has decreased over time, highlighting potential cost management issues.

Balance Sheet

The balance sheet reflects a relatively low debt-to-equity ratio of 0.26, suggesting manageable leverage. However, the return on equity is negative at -58.61%, indicating that the company is not generating sufficient returns on shareholders' equity. The equity ratio stands at 60.59%, which is a positive indicator of financial stability, but overall profitability remains a concern.

Cash Flow

Cash flow analysis reveals a challenging scenario with negative operating cash flow and a significant decline in free cash flow growth by -51.09%. The free cash flow to net income ratio is slightly positive at 1.08, suggesting some efficiency in converting net income to cash, but overall cash flow management remains weak.

Breakdown	TTM	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020
Income Statement
Total Revenue	5.12M	4.94M	4.59M	3.63M	5.56M	4.10M
Gross Profit	738.99K	1.47M	1.38M	1.57M	2.52M	-1.01M
EBITDA	-4.93M	-3.69M	-4.95M	-7.05M	-6.55M	-6.36M
Net Income	-3.81M	-3.93M	-5.99M	-5.56M	-4.94M	-3.53M
Balance Sheet
Total Assets	9.04M	11.05M	10.37M	13.06M	12.16M	11.40M
Cash, Cash Equivalents and Short-Term Investments	2.92M	3.96M	1.92M	2.64M	1.61M	182.60K
Total Debt	1.60M	1.74M	2.78M	3.26M	2.41M	3.98M
Total Liabilities	3.74M	4.36M	5.76M	6.53M	5.32M	6.44M
Stockholders Equity	5.30M	6.70M	4.61M	6.53M	6.84M	4.96M
Cash Flow
Free Cash Flow	-802.53K	-2.54M	-4.06M	-4.45M	-2.76M	-4.56M
Operating Cash Flow	-742.87K	-2.35M	-4.04M	-4.33M	-2.57M	-2.85M
Investing Cash Flow	-218.45K	-190.60K	-20.38K	-118.17K	-26.90K	-1.71M
Financing Cash Flow	-217.78K	4.80M	3.37M	5.51M	4.08M	1.81M

CAP-XX Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.24
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:CPX, the sentiment is Negative. The current price of 0.24 is below the 20-day moving average (MA) of 0.24, above the 50-day MA of 0.23, and below the 200-day MA of 0.28, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 49.67 is Neutral, neither overbought nor oversold. The STOCH value of 41.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:CPX.

CAP-XX Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DSCV	77 Outperform	£567.11M	21.88	8.49%	2.09%	0.49%	61.73%
KMK	73 Outperform	£77.79M	6.13	7.39%	―	36.61%	―
SDI	70 Neutral	£78.95M	17.26	9.34%	―	7.36%	31.93%
SOLI	68 Neutral	£95.02M	39.32	3.88%	1.56%	8.75%	-54.73%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
TTG	54 Neutral	£204.77M	-2.93	-31.42%	―	-16.33%	-448.12%
CPX	46 Neutral	£14.20M	-8.18	-69.49%	―	3.38%	82.76%

CAP-XX Ltd Corporate Events

CAP-XX Narrows Losses as Order Backlog Surges and Systems Overhaul Takes Hold

CAP-XX Limited reported unaudited interim results for the half year to 31 December 2025 showing modest top-line growth and improving losses, underpinned by strong demand indicators. Revenue rose 9% year-on-year to A$2.6m, bookings climbed 31% to A$3.4m, billings increased 14%, and order backlog more than doubled to A$2.8m, while the net loss after tax narrowed to A$1.5m and EBITDA loss improved to A$1.1m. The company remains debt-free with A$2.9m in cash and a small net trade debtor position, and has now fully integrated its warehouse management, CRM and accounting systems, yielding better production visibility, cost allocation and financial control. Management frames these operational and systems upgrades, alongside tighter cost discipline, as laying the groundwork for scalable growth, improved margins and a pathway toward cash-flow breakeven, with a strong order book and strengthened distribution and customer relationships expected to support future revenue conversion.

The most recent analyst rating on (GB:CPX) stock is a Sell with a £0.24 price target. To see the full list of analyst forecasts on CAP-XX Ltd stock, see the GB:CPX Stock Forecast page.

CAP-XX Sets Date for Interim Results and Investor Presentation

CAP-XX Limited has scheduled the release of its interim results for the six months to 31 December 2025 for 2 February 2026, underscoring its commitment to regular financial disclosure as it develops its position in the global supercapacitor market. On the same day, the company’s CEO Lars Stegmann and Interim CFO Anthony Guarna will host a live online presentation for existing and prospective shareholders via the Investor Meet Company platform, signalling an emphasis on investor engagement and transparency around the company’s current trading and strategic progress.

The most recent analyst rating on (GB:CPX) stock is a Sell with a £0.23 price target. To see the full list of analyst forecasts on CAP-XX Ltd stock, see the GB:CPX Stock Forecast page.

CAP-XX Boosts Cash Position with A$1.75m Australian R&D Tax Credit

CAP-XX Limited has received approval from the Australian Tax Office for an R&D tax credit of A$1.75m, and the funds have been paid to the company, bringing its current cash position to A$2.97m. The tax credit injection strengthens CAP-XX’s near-term liquidity as it continues to develop and commercialise its supercapacitor technology, providing additional financial headroom that may support ongoing R&D activities and underpin operations in a competitive energy storage and power management market.

The most recent analyst rating on (GB:CPX) stock is a Sell with a £0.23 price target. To see the full list of analyst forecasts on CAP-XX Ltd stock, see the GB:CPX Stock Forecast page.

CAP-XX Limited Confirms Total Voting Rights and Share Capital

CAP-XX Limited has announced that its total issued ordinary share capital consists of 5,797,326,778 ordinary shares, each with one voting right. This information is crucial for shareholders to determine their interest or changes in interest in the company’s share capital, impacting how they engage with CAP-XX’s financial operations.

The most recent analyst rating on (GB:CPX) stock is a Hold with a £0.50 price target. To see the full list of analyst forecasts on CAP-XX Ltd stock, see the GB:CPX Stock Forecast page.

CAP-XX Issues Shares to Chairman in Cash Preservation Strategy

CAP-XX Ltd has issued 7,303,025 ordinary shares to its Chairman, Dr. Graham Cooley, in lieu of certain fees, as part of its strategy to conserve cash resources. This issuance, priced at 0.275 pence per share, increases Dr. Cooley’s shareholding to 10.53% of the company’s enlarged share capital. The new shares are expected to be admitted to trading on AIM around 20 November 2025, which will adjust the company’s total issued share capital to 5,797,326,778 ordinary shares.

The most recent analyst rating on (GB:CPX) stock is a Hold with a £0.50 price target. To see the full list of analyst forecasts on CAP-XX Ltd stock, see the GB:CPX Stock Forecast page.

CAP-XX Chairman Increases Stake with Major Share Purchase

CAP-XX Limited announced that Dr. Graham Cooley, the Non-Executive Chairman, has purchased 24,000,000 ordinary shares, increasing his stake to approximately 10.41% of the company’s issued share capital. This move signifies confidence in the company’s future prospects and may influence investor sentiment positively, potentially impacting CAP-XX’s market position and stakeholder interests.

The most recent analyst rating on (GB:CPX) stock is a Hold with a £0.50 price target. To see the full list of analyst forecasts on CAP-XX Ltd stock, see the GB:CPX Stock Forecast page.