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Hazer Group Ltd.
(Sydney:HZR)
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Rating:46Neutral
Price Target:
AU$0.33
▲(0.91% Upside)
Action:Reiterated
Date:08/26/26
The score is held down primarily by weak financial performance—sharp revenue deterioration, persistent large losses, and ongoing cash burn—despite low balance-sheet leverage. Technical indicators are modestly supportive in the short term (price above 20/50DMA and positive MACD), but the longer-term trend remains negative (below 200DMA). Valuation provides limited support given the negative P/E and no dividend yield data.
Positive Factors
Low Financial Leverage
The modest debt burden limits immediate balance-sheet pressure and preserves financial flexibility relative to a highly leveraged scale-up. This provides some capacity to fund development, although continued losses could gradually weaken that position.
Negative Factors
Severe Revenue Deterioration
The sharp revenue decline indicates that commercial traction remains extremely limited and makes near-term scaling difficult to demonstrate. Weak or inconsistent revenue also increases dependence on funding and delays the point at which operations can support themselves.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Financial Leverage
The modest debt burden limits immediate balance-sheet pressure and preserves financial flexibility relative to a highly leveraged scale-up. This provides some capacity to fund development, although continued losses could gradually weaken that position.
Read all positive factors
Hazer Group Ltd. (HZR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$87.05M
Dividend YieldN/A
Average Volume (3M)99.86K
Price to Earnings (P/E)―
Beta (1Y)1.10
Revenue Growth-96.81%
EPS Growth-19.09%
CountryAU
Employees36
SectorBasic Materials
Sector Strength58
IndustryChemicals
Share Statistics
EPS (TTM)-0.04
Shares Outstanding267,847,840
10 Day Avg. Volume56,851
30 Day Avg. Volume99,859
Financial Highlights & Ratios
PEG Ratio-0.40
Price to Book (P/B)7.65
Price to Sales (P/S)4047.02
P/FCF Ratio-14.67
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.70Price Target Upside112.12% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.03
Revenue Forecast (FY)AU$4.50M
Hazer Group Ltd. Business Overview & Revenue Model
Company Description
Hazer Group Limited is an Australian clean technology firm dedicated to commercializing its unique Hazer Process. This innovative technology allows for the production of low-carbon hydrogen and graphite by converting natural gas and comparable raw...
How the Company Makes Money
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Hazer Group Ltd. Earnings Call Summary
Earnings Call Date:Feb 24, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Feb 19, 2027
Earnings Call Sentiment Positive
The call highlighted multiple material commercial and technical progress points: a solid cash position (> $17M) with reduced burn, an advancing 11-year KBR alliance (paid studies and in‑kind support), the first revenue-generating Hazer–KBR project in the U.K., expanded pipeline and clear traction in steel and graphite markets (POSCO extension, M Resources MOU). Challenges remain around timing/uncertainty in large government-led tenders (Whyalla), longer qualification timelines for high-value graphite markets, and engineering scale-up risks (heat, conversion, product quality). On balance the company presented tangible milestones, partner-backed execution pathways and growing demand indicators that outweigh the operational and timing risks.Positive Updates
Strong liquidity position and reduced cash burn
Cash position > $17.0M at the start of the quarter, bolstered by > $5.5M R&D rebate inflows and ~ $1.0M+ from approved capital raise proceeds; cash burn reduced ~30% quarter-on-quarter and ~40% year-on-year for the comparable quarter.
Negative Updates
Commercial timing and process uncertainty (Whyalla & government-led bids)
Whyalla opportunity is part of a confidential, government-led sale process with limited public disclosure and uncertain timing/outcome; while Hazer is part of M Resources' bid, there is no guarantee of selection and the process may be lengthy.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong liquidity position and reduced cash burn
Cash position > $17.0M at the start of the quarter, bolstered by > $5.5M R&D rebate inflows and ~ $1.0M+ from approved capital raise proceeds; cash burn reduced ~30% quarter-on-quarter and ~40% year-on-year for the comparable quarter.
Read all positive updates
Company Guidance
The call guided that Hazer enters 2026 with a cash position of over A$17m (bolstered by >A$5.5m R&D rebate and ~A$1m from an AGM‑approved capital reallocation), a cash burn reduced ~30% quarter‑on‑quarter and ~40% year‑on‑year, and a stronger pipeline now ~A$51m (equating to ~1.5 million tpa of customer leads, or >1.5% of global H2 demand) with >50 active leads (up from ~45); the KBR alliance (an 11‑year engagement backed by a US$3m contribution and further in‑kind support cited in the call) is delivering a commercial design package built around a ~30,000 tpa base single‑train (scalable toward 50–100k tpa), with the first paid study (Energy Pathways) being a 20,000 tpa, revenue‑generating project; market context provided included an addressable H2 market of ~100m tpa (~US$206bn), current SMR emitting ~10 t CO2 per t H2 and ~920m t CO2 industrywide, sector growth forecasts (ammonia ~3× in ~25 years; steel ~10× to 2050), and graphite commercialisation metrics targeting “drop‑in” markets at ~US$300–700+/t (typical target >US$500/t) with one 50,000 tpa deal modeled to deliver ~US$80–100m in license revenue; management also flagged additional non‑dilutive funding/grants (ARENA ~A$1m expected, Mitsui/WA funds ~A$2m+, Fortis CAD11m support) and large regional funding for Whyalla (federal ~A$1bn+, SA ~A$400m) as important enablers to convert pipeline into licences this year.Hazer Group Ltd. Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
63
Positive
Cash Flow
24
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 19.57K | 614.24K | 3.31M | 2.40M | 1.24M |
| Gross Profit | -88.22K | 614.24K | 3.31M | 2.29M | 1.16M |
| EBITDA | -13.50M | -7.45M | -15.69M | -11.72M | -16.93M |
| Net Income | -10.38M | -7.62M | -19.07M | -12.21M | -16.41M |
Balance Sheet | |||||
| Total Assets | 13.55M | 17.75M | 18.58M | 12.67M | 27.04M |
| Cash, Cash Equivalents and Short-Term Investments | 10.67M | 12.53M | 12.83M | 9.28M | 18.03M |
| Total Debt | 104.42K | 220.00K | 222.83K | 261.26K | 3.82M |
| Total Liabilities | 3.20M | 4.04M | 5.01M | 8.73M | 14.59M |
| Stockholders Equity | 10.35M | 13.71M | 13.57M | 3.94M | 12.45M |
Cash Flow | |||||
| Free Cash Flow | -5.40M | -6.60M | -23.31M | -5.77M | -21.30M |
| Operating Cash Flow | -5.24M | -5.15M | -15.82M | -1.28M | -5.24M |
| Investing Cash Flow | -156.65K | -1.45M | -7.50M | -4.50M | -16.06M |
| Financing Cash Flow | 3.54M | 6.31M | 26.86M | -2.98M | 14.69M |
Hazer Group Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
47 Neutral | AU$4.00M | -0.22 | -35.91% | ― | ― | 59.65% | |
46 Neutral | AU$87.05M | -8.27 | -87.35% | ― | -96.81% | -19.09% | |
44 Neutral | AU$51.85M | -1.00 | -119.47% | ― | 27.85% | -141.00% | |
43 Neutral | AU$145.39M | -39.87 | -8.00% | ― | ― | 19.81% | |
42 Neutral | AU$48.78M | -9.02 | -67.92% | ― | 14.77% | 20.78% |
* Basic Materials Sector Average
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Hazer Group Ltd. Corporate Events
Hazer Group Files ASX Corporate Governance Statement for FY2026
Aug 24, 2026
Hazer Group Ltd. has lodged its annual corporate governance statement for the year ended 30 June 2026 with the ASX and made it available on its website, confirming compliance with key ASX Corporate Governance Council principles. The board-approved...
Hazer Moves From Platform Build to Commercial Execution as FY27 Begins
Aug 24, 2026
Hazer Group has entered FY27 with commercial-scale engineering for a 30,000 tonnes per annum hydrogen plant completed and a global go-to-market platform established through KBR, supported by a pipeline of six projects across steel, energy and ammo...
Hazer Group loss widens as grant income falls and equity funding supports operations
Aug 24, 2026
Hazer Group reported a sharp 61% fall in revenue from ordinary activities to $3.3 million for the year to 30 June 2026, mainly due to the absence of prior-year grant income and a lower research and development tax rebate. The company’s loss ...
Hazer-KBR Alliance Wins Major Hydrogen Study with Tier-1 Japanese Utility
Aug 16, 2026
Hazer Group has secured a paid pre‑feasibility study with a tier‑1 Japanese power utility to assess integrating its methane pyrolysis technology into the utility’s generation portfolio, at hydrogen production scales of 30,000 and...
Hazer Showcases Green Steel Hydrogen Technology at TACTIC Conference
Jul 28, 2026
Hazer Group Ltd, an Australian climate-tech company, is advancing its proprietary Hazer Process to produce clean hydrogen and high-quality graphite from natural gas or biogas, positioning itself as a key player in low-carbon energy and advanced ma...
Hazer Group Boosts Investor Engagement as It Commercialises Clean Hydrogen Technology
Jul 21, 2026
Hazer Group Ltd, an Australian climate-tech company, is commercialising its proprietary Hazer Process to produce clean hydrogen and high-quality graphite from natural gas or biogas using iron ore as a catalyst. The business targets global decarbon...
Hazer Graphite Reaches Battery-Grade Purity in Key Commercial Milestone
Jul 12, 2026
Hazer Group has achieved a key technical milestone with independent tests showing its graphite can be thermally purified to over 99.99% purity, meeting battery-grade thresholds. The testing, conducted by ANZAPLAN of the Dorfner Group, confirms the...
Hazer Group Options Lapse After Unmet Conditions
Jul 1, 2026
Hazer Group Ltd. has notified the market of the cessation of 244,080 HZRAE options, which have lapsed because the conditions attached to these securities were not, or could not be, satisfied by 30 June 2026. The announcement updates investors on c...
Hazer Secures Key Japanese Patent to Bolster Clean Hydrogen Technology
Jun 2, 2026
Hazer Group has secured a key patent from the Japanese Patent Office covering its process for producing hydrogen and graphitic carbon from hydrocarbons, significantly expanding protection of its proprietary Hazer Process in Japan. The new patent b...
Hazer Group Tightens Capital Structure as 317,374 Options Lapse
May 29, 2026
Hazer Group Ltd., listed on the ASX under ticker HZR, is an Australian technology and resources player specialising in advanced materials and energy-related processes. The company targets applications that can enhance value in industrial and energ...
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.