Graphene Manufacturing Group Ltd (GMG) AI Stock Analysis

• Market Cap: C$261.45M
• Dividend Yield: N/A
• Average Volume (3M): 232.07K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.40
• Revenue Growth: 6.29%
• EPS Growth: -3.71%
• Country: CA
• Employees: 38
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals - Specialty
• EPS (TTM): N/A
• Shares Outstanding: 117,771,410
• 10 Day Avg. Volume: 194,057
• 30 Day Avg. Volume: 232,072
• PEG Ratio: -11.08
• Price to Book (P/B): 7.40
• Price to Sales (P/S): 13.46
• P/FCF Ratio: -14.38
• 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: 50 Neutral
• Price Target: C$3.00 ▲(50.75% Upside)

The score is held down primarily by weak financial performance (significant losses and negative cash flow), partially offset by strong technical strength (clear uptrend with supportive momentum). Valuation is also a risk factor given negative earnings and no stated dividend yield.

Positive Factors

Low Financial Leverage

A very low debt-to-equity ratio provides durable financial flexibility, lowering fixed interest burdens and enabling the company to fund R&D or scale manufacturing without immediate refinancing pressure. This supports long-term investment in commercialization and partnerships.

Diverse Graphene Product Lines

Offering coatings, batteries and composites across automotive, electronics and energy storage builds multiple addressable markets. Durable product diversification reduces reliance on a single end market and supports longer-term revenue optionality as graphene adoption grows across industries.

Strong Recent Revenue Growth

Substantial TTM revenue expansion signals commercial traction and accelerating customer adoption of graphene products. If sustained, revenue growth can justify scaled production, attract partners, and improve operating leverage as fixed costs are spread over larger volumes.

Negative Factors

Deeply Negative Margins

Extremely negative gross and net margins show current unit economics do not cover production or operating costs, indicating structural pricing or cost issues. Without material margin recovery, profitability and sustainable scaling remain out of reach despite revenue growth.

Negative Operating Cash Flow

Persistent negative operating and free cash flows indicate the business consumes cash to run operations and expand. This structural cash burn requires ongoing external funding, which can dilute shareholders and constrain long-term investments if cash generation does not improve.

Very Poor Return on Equity

A deeply negative ROE reflects that shareholder capital is not generating returns, signaling operational inefficiency or high losses relative to equity. Long-term capital providers may demand corrective action, making it harder to raise growth capital without significant performance improvement.

Graphene Manufacturing Group Ltd Business Overview & Revenue Model

Company Description

Graphene Manufacturing Group Pty Ltd, together with its subsidiaries, manufactures and supplies graphene. The company engages in the manufacture and sale of energy saving and energy storage solutions. It serves facility management; transport and earth moving; food supply management; retail, shopping centres, and food outlets; utilities education institutions; automotive operations and maintenance; batteries and energy storage; and batter materials. Graphene Manufacturing Group Pty Ltd. was incorporated in 2016 and is based in Richlands, Australia.

How the Company Makes Money

GMG generates revenue through multiple channels, primarily by producing and selling graphene materials to manufacturers across various industries. The company has established key revenue streams from the sale of its advanced graphene products, which include coatings that enhance durability and performance, and graphene-enhanced batteries that improve energy density and charging times. Additionally, GMG may pursue partnerships and collaborations with organizations in need of advanced materials, allowing them to co-develop products and share in the resulting profits. The company also aims to capitalize on the growing demand for sustainable and high-performance materials, positioning itself for growth in the expanding market for graphene applications.

Graphene Manufacturing Group Ltd Financial Statement Overview

Summary

Overall financials are weak: profitability is deeply negative (TTM gross margin -82.62%, net margin -27.56%) and cash generation remains negative despite growth off a low base. The balance sheet is conservatively leveraged (debt-to-equity 0.076), but returns are poor (ROE -72.21%), reflecting ongoing losses.

Income Statement

Graphene Manufacturing Group Ltd shows a challenging financial position with negative profit margins across the board. The TTM (Trailing-Twelve-Months) data reveals a gross profit margin of -82.62% and a net profit margin of -27.56%, indicating significant losses relative to revenue. Despite a revenue growth rate of 57.7% in the TTM, the company struggles with profitability, as evidenced by negative EBIT and EBITDA margins. The company needs to improve its cost management and operational efficiency to enhance profitability.

Balance Sheet

The balance sheet reflects a relatively low debt-to-equity ratio of 0.076 in the TTM, suggesting conservative leverage. However, the return on equity is negative at -72.21%, indicating that the company is not generating profits from its equity base. The equity ratio stands at 48.68%, showing a moderate reliance on equity financing. Overall, while the company maintains low leverage, its inability to generate returns is a concern.

Cash Flow

The cash flow statement highlights significant challenges, with negative operating and free cash flows. The TTM data shows a free cash flow growth rate of 50.68%, but this is from a negative base, and the operating cash flow to net income ratio is -0.84, indicating cash flow issues. The free cash flow to net income ratio is positive at 1.11, suggesting some alignment between cash flow and reported earnings, but overall cash flow management needs improvement.

Breakdown	TTM	Dec 2025	Dec 2025	Dec 2024	Dec 2023	Dec 2022
Income Statement
Total Revenue	4.92M	―	4.90M	294.86K	170.06K	54.43K
Gross Profit	4.58M	―	4.72M	-446.15K	-280.90K	-256.73K
EBITDA	-4.79M	―	-5.78M	-5.30M	-8.40M	-11.38M
Net Income	-9.42M	―	-8.57M	-7.40M	-9.32M	-11.77M
Balance Sheet
Total Assets	22.53M	―	17.22M	15.24M	15.96M	16.68M
Cash, Cash Equivalents and Short-Term Investments	12.88M	―	7.71M	3.98M	4.65M	12.26M
Total Debt	687.75K	―	773.99K	1.35M	1.31M	1.03M
Total Liabilities	11.57M	―	8.31M	6.70M	7.26M	6.58M
Stockholders Equity	10.97M	―	8.91M	8.54M	8.69M	10.10M
Cash Flow
Free Cash Flow	-7.09M	―	-4.59M	-7.69M	-13.99M	-7.65M
Operating Cash Flow	-6.31M	―	-3.83M	-4.99M	-10.55M	-6.57M
Investing Cash Flow	-787.43K	―	-886.53K	-2.70M	-3.44M	-1.08M
Financing Cash Flow	15.71M	―	8.34M	7.09M	6.36M	16.55M

Graphene Manufacturing Group Ltd Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1.99
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:GMG, the sentiment is Neutral. The current price of 1.99 is below the 20-day moving average (MA) of 2.84, below the 50-day MA of 2.08, and above the 200-day MA of 1.12, indicating a neutral trend. The MACD of 0.08 indicates Positive momentum. The RSI at 44.74 is Neutral, neither overbought nor oversold. The STOCH value of 17.14 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:GMG.

Graphene Manufacturing Group Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VNP	75 Outperform	C$2.47B	40.25	26.65%	―	30.36%	181.15%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
GMG	50 Neutral	C$261.45M	-27.37	-92.59%	―	6.29%	-3.71%
NEO	50 Neutral	C$824.91M	-90.88	-1.61%	2.55%	8.04%	-195.66%
CNO	47 Neutral	C$15.53M	-4.82	-61.05%	―	-15.84%	-375.96%
SURE	46 Neutral	C$7.17M	-272.73	―	―	―	91.27%
NANO	42 Neutral	C$112.71M	-7.55	-64.59%	―	―	56.03%

Graphene Manufacturing Group Ltd Corporate Events

GMG Wins US EPA Green Light for THERMAL-XR Graphene Coating, Paving Way for American HVAC Launch

Graphene Manufacturing Group Ltd has accepted United States Environmental Protection Agency consent notice approval conditions for its THERMAL-XR® ENHANCE graphene coating, clearing the way for commercial sales in the US HVAC market. The first shipment will go to distribution partner Nu-Calgon to be sold as “Nu-Calgon CoolWorx® powered by GMG Graphene,” marking GMG’s entry into what it calls the largest HVAC coating market globally after a two-year regulatory process. The approval caps a series of milestones including intellectual property acquisition, independent verification of energy savings, distributor signings across Asia and North America, commissioning of graphene and coating production facilities, and prior regulatory clearances in Australia and Canada, positioning GMG to scale commercialisation of THERMAL-XR® in major international markets.

The most recent analyst rating on (TSE:GMG) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Graphene Manufacturing Group Ltd stock, see the TSE:GMG Stock Forecast page.

Graphene Manufacturing Group Wins EPA Green Light for U.S. Launch of Graphene HVAC Coating

Graphene Manufacturing Group has received and accepted the United States Environmental Protection Agency’s consent notice conditions for its THERMAL-XR ENHANCE graphene coating, a critical regulatory step that clears the way for commercial sales in the world’s largest HVAC coatings market. The company plans to ship its first batch of the product to distribution partner Nu-Calgon, which will market it in the U.S. as Nu-Calgon CoolWorx powered by GMG Graphene, positioning GMG to capitalize on a substantial market opportunity for energy-saving and corrosion-resistant air-conditioning coatings after a two-year approval process and a series of prior regulatory, technical validation, capacity-building and distribution milestones across multiple regions.

The most recent analyst rating on (TSE:GMG) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Graphene Manufacturing Group Ltd stock, see the TSE:GMG Stock Forecast page.

GMG Advances Graphene Aluminium-Ion Battery Technology

Graphene Manufacturing Group Ltd. has announced significant progress in its Graphene Aluminium-Ion Battery technology, which promises to charge fully in six minutes and offers a safer, more cost-effective alternative to current lithium-based batteries. This advancement could revolutionize the electric vehicle and consumer electronics markets by reducing reliance on lithium, enhancing charge times, and improving power density, positioning GMG as a key player in the next wave of electrification.

The most recent analyst rating on (TSE:GMG) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Graphene Manufacturing Group Ltd stock, see the TSE:GMG Stock Forecast page.

Graphene Manufacturing Group Launches Pre-Order for THERMAL-XR® Kit

Graphene Manufacturing Group Ltd (GMG) has launched pre-order sales for its THERMAL-XR® spray kit, which includes an electric spray gun and is designed for energy-saving applications. The product is available for pre-order in Australia and will be distributed globally as GMG expands its distributor network. This launch represents a significant step in GMG’s strategy to commercialize its energy-saving products, potentially enhancing its market position and offering stakeholders a new solution for energy efficiency.

The most recent analyst rating on (TSE:GMG) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Graphene Manufacturing Group Ltd stock, see the TSE:GMG Stock Forecast page.

GMG’s G-LUBRICANT Achieves 13.8% Fuel Savings in Australian Charity Rally

Graphene Manufacturing Group Ltd announced a successful demonstration of its G-LUBRICANT product during a charity car rally in Australia, achieving a 13.8% fuel efficiency improvement. The event, which supports cancer research, highlighted the effectiveness of GMG’s graphene-enhanced engine oil additive, reinforcing its potential impact on reducing fuel consumption and enhancing engine performance.

The most recent analyst rating on (TSE:GMG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Graphene Manufacturing Group Ltd stock, see the TSE:GMG Stock Forecast page.

GMG Partners with Beijer Ref to Distribute THERMAL-XR® in Australia

Graphene Manufacturing Group Ltd has achieved a significant commercial milestone by partnering with Beijer Ref to distribute its THERMAL-XR® ENHANCE heat transfer coating across Beijer Ref’s and Kirby’s wholesale locations in Australia. This collaboration is expected to enhance the cooling efficiency and sustainability of refrigeration systems, expanding GMG’s market reach and reinforcing its position in the HVAC-R industry. The initiative will utilize a network of certified HVAC contractors to ensure quality application, supporting GMG’s strategic commercialization model and strengthening its reputation for technical excellence.

The most recent analyst rating on (TSE:GMG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Graphene Manufacturing Group Ltd stock, see the TSE:GMG Stock Forecast page.