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First Graphene Ltd
(Sydney:FGR)
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Rating:42Neutral
Price Target:
AU$0.04
â–¼(-28.33% Downside)
Action:Reiterated
Date:09/11/26
The score is primarily constrained by weak financial performance—persistent losses and ongoing negative operating/free cash flow—despite improved leverage from sharply reduced debt. Technical signals are also subdued with the stock trading below key longer-term moving averages and negative MACD, while valuation provides little support due to a negative P/E and no indicated dividend yield.
Positive Factors
Lower Leverage
Debt reduction materially lowers solvency pressure and improves financial flexibility over the next several quarters. With debt-to-equity near 0.05 versus 0.68 previously and positive substantial equity, FGR has a more resilient capital structure while it works toward profitability.
Negative Factors
Persistent Losses
Persistent deep EBIT and net losses, alongside net margins around -6% to -12% and about -10% in 2026, show that current revenue scale is not covering the cost base. This weakens internal funding capacity and makes a durable earnings turnaround dependent on materially better operating performance.
Read all positive and negative factors
Positive Factors
Negative Factors
Lower Leverage
Debt reduction materially lowers solvency pressure and improves financial flexibility over the next several quarters. With debt-to-equity near 0.05 versus 0.68 previously and positive substantial equity, FGR has a more resilient capital structure while it works toward profitability.
Read all positive factors
First Graphene Ltd (FGR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$39.94M
Dividend YieldN/A
Average Volume (3M)296.38K
Price to Earnings (P/E)―
Beta (1Y)0.78
Revenue Growth14.77%
EPS Growth16.88%
CountryAU
Employees195
SectorBasic Materials
Sector Strength58
IndustryChemicals
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding887,586,850
10 Day Avg. Volume229,647
30 Day Avg. Volume296,375
Financial Highlights & Ratios
PEG Ratio0.50
Price to Book (P/B)7.87
Price to Sales (P/S)103.58
P/FCF Ratio-20.04
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)N/A
Revenue Forecast (FY)N/A
First Graphene Ltd Business Overview & Revenue Model
Company Description
First Graphene Limited, an Australian enterprise, is actively engaged in the comprehensive lifecycle of graphene products, from initial research, development, and mining to their manufacture and global distribution. The company organizes its opera...
How the Company Makes Money
First Graphene makes money primarily by selling graphene materials and related product solutions to customers and partners for use in industrial formulations. Its main revenue stream is the sale of its graphene products (including PureGRAPH® graph...
First Graphene Ltd Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
46
Neutral
Cash Flow
22
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 537.59K | 468.40K | 492.00K | 861.17K | 723.32K |
| Gross Profit | 220.56K | 17.86K | 100.74K | -542.17K | -103.61K |
| EBITDA | -4.07M | -3.72M | -5.07M | -5.01M | -5.71M |
| Net Income | -5.40M | -5.48M | -5.75M | -5.42M | -5.02M |
Balance Sheet | |||||
| Total Assets | 8.08M | 8.08M | 9.64M | 11.71M | 15.42M |
| Cash, Cash Equivalents and Short-Term Investments | 2.87M | 2.61M | 3.16M | 3.23M | 7.00M |
| Total Debt | 339.36K | 3.07M | 3.55M | 4.59M | 6.31M |
| Total Liabilities | 1.01M | 3.59M | 4.04M | 4.86M | 7.04M |
| Stockholders Equity | 7.07M | 4.49M | 5.50M | 6.66M | 8.19M |
Cash Flow | |||||
| Free Cash Flow | -2.78M | -2.78M | -2.87M | -3.54M | -4.49M |
| Operating Cash Flow | -2.39M | -2.72M | -2.82M | -3.40M | -4.40M |
| Investing Cash Flow | -383.84K | -163.47K | -52.48K | -139.80K | -90.58K |
| Financing Cash Flow | 3.05M | 2.37M | 2.81M | -236.67K | 4.42M |
First Graphene Ltd Technical Analysis
Negative
0.06
Price Trends
0.05
Negative
0.06
Negative
0.06
Negative
Market Momentum
>-0.01
Positive
31.71
Neutral
<0.01
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:FGR, the sentiment is Negative. The current price of 0.06 is above the 20-day moving average (MA) of 0.05, above the 50-day MA of 0.05, and below the 200-day MA of 0.06, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 31.71 is Neutral, neither overbought nor oversold. The STOCH value of <0.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:FGR.
First Graphene Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | AU$1.86B | 20.17 | 16.51% | 3.66% | 6.95% | 19.21% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
46 Neutral | AU$75.00M | -7.00 | -87.35% | ― | -96.81% | -19.09% | |
44 Neutral | AU$26.00M | -5.50 | -75.44% | 20.00% | -3.10% | 39.78% | |
42 Neutral | AU$39.94M | -7.38 | -67.92% | ― | 14.77% | 16.88% | |
41 Neutral | AU$28.58M | -3.02 | -1186.33% | ― | ― | -84.62% | |
41 Neutral | AU$2.67M | -0.14 | -174.71% | ― | ― | -107.04% |
* Basic Materials Sector Average
AU:FGR
First Graphene Ltd
0.05
-0.04
-47.67%
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Leaf Resources Limited
0.01
-0.02
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AU:HZR
Hazer Group Ltd.
0.28
-0.28
-50.00%
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Carbonxt Group Ltd.
0.06
-0.03
-35.48%
AU:ATC
Altech Chemicals Limited
0.01
-0.03
-75.00%
AU:RDX
Redox Limited
3.55
0.83
30.42%
First Graphene Ltd Corporate Events
First Graphene Seeks ASX Quotation for Additional Ordinary Shares
Oct 26, 2026
First Graphene Limited, trading on the ASX as FGR, is an Australia-registered entity that offers ordinary fully paid shares to investors. The company sits within the advanced materials sector, with its equity securities providing a vehicle for par...
First Graphene Sets November Date for Digitally Focused AGM
Oct 23, 2026
First Graphene Limited has announced details of its upcoming Annual General Meeting, which will be held at the company’s Henderson, Western Australia premises at 1:00pm AWST on Friday, 27 November 2026. Shareholders can access the Notice of ...
First Graphene lifts quarterly income and expands global PureGRAPH partnerships
Oct 20, 2026
First Graphene reported unaudited combined income of about A$201,000 for the first quarter of FY2027, reflecting a 21% increase on the prior year period and driven by graphene sales and collaborative RD programs. Revenue was split roughly evenly b...
First Graphene Director Increases Shareholding via Performance Rights Conversion
Oct 14, 2026
First Graphene Ltd has disclosed a change in the interests of director Michael Quinert, reflecting the conversion of performance rights into fully paid ordinary shares. The transaction, executed through the company’s Incentive Award Plan, re...
First Graphene Seeks Quotation for Additional ASX Shares
Oct 13, 2026
First Graphene Ltd is an ASX-listed company operating in the advanced materials sector, focused on the development and commercialisation of graphene-based products. The company targets industrial applications where high-performance materials can e...
First Graphene wins first sports footwear production order with Flux Footwear
Oct 6, 2026
First Graphene has secured its first production order in the global sports footwear market, with US-based Flux Footwear set to incorporate PureGRAPH into its athletic and leisure shoes. Flux will use the graphene-enhanced material to strengthen it...
First Graphene seals Aeropreg deal to commercialise graphene carbon fibre prepregs
Oct 4, 2026
First Graphene has entered a three-year Development and Commercialisation Agreement with Turkish prepreg producer Aeropreg to create graphene-enhanced carbon fibre prepreg using its PureGRAPH additives and proprietary epoxy concentrates. The colla...
First Graphene expands UK partnership as PureGRAPH sensors enter heat flux market
Sep 29, 2026
First Graphene has signed a three-year Strategic Partner Agreement with UK-based Vector Companies Group to expand commercial opportunities for its PureGRAPH graphene products. The deal allows Vector to introduce end-users to First Graphene and pur...
First Graphene files 2026 corporate governance statement with ASX
Sep 25, 2026
First Graphene has lodged its corporate governance statement for the year ended 30 June 2026 within its annual report, detailing how it complies with ASX Corporate Governance Council principles. The statement, current as at 25 September 2026 and b...
First Graphene’s 2026 Annual Report Underscores Global Footprint and Governance Framework
Sep 25, 2026
First Graphene Ltd’s 2026 annual report highlights its corporate structure and governance, led by a board chaired by non-executive chairman Warwick Grigor and managed by CEO Michael Bell. The report details the company’s registered off...
First Graphene Wins First Production Order for Fire-Safe Mining Polyurethane
Sep 10, 2026
First Graphene Ltd has secured its first production purchase order from Australian polyurethane specialist Pacific Urethanes for the use of its PureGRAPH graphene additive in fire-retardant polyurethane systems for mining. The deal introduces a ne...
First Graphene Director Converts Performance Rights Into Shares
Sep 9, 2026
First Graphene Limited, an advanced materials company specialising in graphene-based solutions, continues to use equity incentives such as performance rights and listed options to align its leadership team with shareholder returns. The companyR...
First Graphene seeks quotation of additional ASX shares after option conversions
Sep 9, 2026
First Graphene Ltd, an advanced materials producer specialising in graphene-based products, trades on the Australian Securities Exchange under the ticker FGR and aims to supply high-performance materials for industrial markets. The company has app...
First Graphene Updates Director Equity Holdings After Performance Rights Conversion
Sep 7, 2026
First Graphene Limited has disclosed a change in the securities held by director Dr Andrew James Goodwin, reflecting adjustments in his direct and indirect interests in the company. The notice details movements in fully paid ordinary shares, perfo...
First Graphene Expands ASX Quoted Shares with Modest New Issue
Sep 7, 2026
First Graphene Ltd has applied to the ASX for quotation of 120,222 new ordinary fully paid shares, to be issued on 7 September 2026. The modest increase in quoted securities slightly expands the company’s equity base and free float, signalli...
First Graphene Narrows Annual Loss as Revenue and Asset Backing Improve
Aug 28, 2026
First Graphene Limited reported a 14.8% increase in revenue from ordinary activities to $537,594 for the year ended 30 June 2026, while narrowing its loss after tax attributable to members to $5,396,082 from $5,483,025 a year earlier. Net tangible...
First Graphene Seeks ASX Quotation for Additional Ordinary Shares
Aug 24, 2026
First Graphene Limited has lodged an application with the Australian Securities Exchange for quotation of 855,843 new ordinary fully paid shares, issued following the exercise of options or conversion of other securities. The new FGR shares, dated...
First Graphene director equity adjusted as performance rights lapse
Aug 6, 2026
First Graphene Ltd has reported a change in the holdings of director Michael Quinert, following the lapse of certain performance rights after vesting conditions were tested as at 30 June 2026. The update, lodged with the ASX, details the cancellat...
First Graphene Issues New Performance Rights Under Employee Incentive Scheme
Aug 5, 2026
First Graphene Ltd has notified the market of the issuance of unquoted performance rights under its employee incentive scheme. The company has allocated 436,769 FGRAC performance rights, with an issue date of 30 June 2026, which are not intended t...
First Graphene Announces Lapse of Performance Rights
Aug 5, 2026
First Graphene Ltd is an ASX-listed advanced materials company focused on the development and commercialisation of graphene-based products. The company’s securities trade under the ticker FGR on the Australian Securities Exchange, reflecting...
First Graphene boosts global reach with new acquisitions and Chinese distribution deal
Jul 31, 2026
First Graphene reported unaudited quarterly income of about A$135,000, mainly from graphene sales in composites and development programs, alongside a 12% reduction in annual cash burn and an expected 13% rise in full-year revenue. These figures su...
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.