CleanSpace Holdings Ltd. (AU:CSX)
ASX:CSX
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CleanSpace Holdings Ltd.
(Sydney:CSX)
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Rating:46Neutral
Price Target:
AU$0.37
▼(-45.88% Downside)
Action:Reiterated
Date:05/28/26
The score is primarily constrained by weak financial performance (ongoing losses and weak cash flow) and a clearly bearish technical setup (downtrend across moving averages with negative momentum). A low P/E offers some valuation support but is not enough to offset the operational and trend headwinds.
Positive Factors
High Gross Margin
A 74.76% gross margin indicates material product-level profitability and pricing power for CleanSpace's PAPR systems and accessories. High gross margins provide a durable buffer to absorb SG&A and R&D, support reinvestment into product development and service, and make recurring consumables more profitable over time.
Negative Factors
Weak Cash Flow Conversion
Declining free cash flow growth and low operating cash flow to net income indicate the company struggles to convert earnings into usable cash. Over time this constrains reinvestment, working capital flexibility and may force reliance on external financing, raising execution and solvency risk during downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
High Gross Margin
A 74.76% gross margin indicates material product-level profitability and pricing power for CleanSpace's PAPR systems and accessories. High gross margins provide a durable buffer to absorb SG&A and R&D, support reinvestment into product development and service, and make recurring consumables more profitable over time.
Read all positive factors
CleanSpace Holdings Ltd. (CSX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$28.42M
Dividend YieldN/A
Average Volume (3M)39.59K
Price to Earnings (P/E)15.5
Beta (1Y)0.26
Revenue Growth17.32%
EPS GrowthN/A
CountryAU
Employees55
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)0.02
Shares Outstanding78,949,590
10 Day Avg. Volume29,005
30 Day Avg. Volume39,591
Financial Highlights & Ratios
PEG Ratio1.00
Price to Book (P/B)2.11
Price to Sales (P/S)2.05
P/FCF Ratio40.19
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)<0.01
Revenue Forecast (FY)AU$22.70M
CleanSpace Holdings Ltd. Business Overview & Revenue Model
Company Description
CleanSpace Holdings Limited engages in the design, manufacture, and sale of respirators and related products and services for healthcare and industrial employers worldwide. It offers CleanSpace HALO, a personal respiratory protection for healthcar...
How the Company Makes Money
CleanSpace generates revenue primarily from selling its respiratory protection products, led by CleanSpace-branded PAPR devices and associated accessories (e.g., masks/facepieces, hoses, chargers, carrying components). A meaningful portion of earn...
CleanSpace Holdings Ltd. Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
55
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.66M | 19.76M | 15.72M | 12.09M | 13.36M | 49.93M |
| Gross Profit | 9.47M | 14.78M | 11.36M | -5.16M | 9.75M | 40.27M |
| EBITDA | -1.07M | -824.55K | -3.49M | -10.55M | -14.10M | 17.15M |
| Net Income | 1.76M | -478.28K | -3.13M | -8.13M | -11.28M | 11.39M |
Balance Sheet | ||||||
| Total Assets | 26.92M | 27.57M | 26.05M | 28.98M | 38.36M | 50.72M |
| Cash, Cash Equivalents and Short-Term Investments | 9.83M | 10.47M | 9.76M | 12.16M | 24.30M | 38.24M |
| Total Debt | 2.89M | 4.54M | 3.45M | 4.00M | 4.13M | 4.38M |
| Total Liabilities | 5.62M | 8.41M | 6.95M | 7.02M | 8.60M | 9.99M |
| Stockholders Equity | 21.30M | 19.16M | 19.10M | 21.96M | 29.75M | 40.73M |
Cash Flow | ||||||
| Free Cash Flow | 1.78M | 1.01M | -1.76M | -11.97M | -13.60M | 11.73M |
| Operating Cash Flow | 1.95M | 1.11M | -1.73M | -11.96M | -13.00M | 13.46M |
| Investing Cash Flow | -1.17M | -778.38K | 2.00M | 7.06M | -628.00K | -14.18M |
| Financing Cash Flow | -461.86K | -559.87K | -637.10K | -211.49K | -357.95K | 16.19M |
CleanSpace Holdings Ltd. Technical Analysis
Negative
0.68
Price Trends
0.42
Negative
0.51
Negative
0.61
Negative
Market Momentum
-0.02
Positive
30.28
Neutral
34.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CSX, the sentiment is Negative. The current price of 0.68 is above the 20-day moving average (MA) of 0.39, above the 50-day MA of 0.42, and above the 200-day MA of 0.61, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 30.28 is Neutral, neither overbought nor oversold. The STOCH value of 34.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:CSX.
CleanSpace Holdings Ltd. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | AU$24.31M | -3.72 | -98.14% | ― | 14.88% | 35.94% | |
46 Neutral | AU$28.42M | 15.53 | 8.71% | ― | 17.32% | ― | |
45 Neutral | AU$18.71M | -0.58 | -165.13% | ― | 23.30% | -14.29% | |
44 Neutral | AU$83.20M | -4.02 | -54.48% | ― | 17.24% | -20.00% | |
44 Neutral | AU$158.95M | -14.77 | -70.29% | ― | ― | -62.15% | |
42 Neutral | AU$27.71M | -2.15 | -180.06% | ― | 74.74% | 4.32% |
* Healthcare Sector Average
AU:CSX
CleanSpace Holdings Ltd.
0.35
-0.05
-12.50%
AU:IPD
Impedimed Limited
0.01
-0.02
-58.82%
AU:CYC
Cyclopharm Limited
0.63
-0.42
-40.00%
AU:MX1
Micro-X Ltd.
0.04
-0.01
-22.00%
AU:EMV
EMvision Medical Devices Ltd.
1.69
-0.09
-5.06%
AU:CBL
Control Bionics Ltd.
0.07
0.04
105.88%
CleanSpace Holdings Ltd. Corporate Events
CleanSpace flags softer FY26 growth but backs long-term respirator demand
May 26, 2026
CleanSpace Holdings has warned that challenging trading conditions and delays in certifying new products in Australia, the U.K. and the U.S. will limit FY26 revenue growth to the low single digits. Demand has been further dampened by macroeconomic...
CleanSpace Director Increases Shareholding as RSUs Convert and Lapse
Mar 10, 2026
CleanSpace Holdings has disclosed changes to director Graham McLean’s indirect interests, reflecting increased equity exposure through both on-market share purchases and the conversion of restricted stock units. The transactions, conducted v...
CleanSpace Seeks ASX Quotation for 37,500 New Ordinary Shares
Mar 10, 2026
CleanSpace Holdings Ltd., traded on the ASX as CSX, is an Australian-listed company that complies with ASX regulatory requirements in administering its ordinary fully paid shares. The business is positioned within the domestic capital markets and ...
CleanSpace Seeks ASX Quotation for 40,000 New Ordinary Shares
Mar 2, 2026
CleanSpace Holdings has applied for quotation of 40,000 new fully paid ordinary shares on the Australian Securities Exchange, with an issue date of 26 March 2026. The modest share issuance, arising from the exercise or conversion of existing secur...
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.