Matrix Composites & Engineering Ltd (AU:MCE)
ASX:MCE
Want to see AU:MCE full AI Analyst Report?
Top Page
Matrix Composites & Engineering Ltd
(Sydney:MCE)
Select Model
Select Model
Rating:44Neutral
Price Target:
AU$0.39
â–˛(55.20% Upside)
Action:Upgraded
Date:04/01/26
The score is primarily dragged down by weak financial performance (declining revenue, ongoing losses, high leverage, and cash flow pressure). Technical indicators provide some support due to strong recent price momentum, but overbought RSI elevates short-term risk. Valuation remains unattractive/uncertain given a negative P/E and no dividend yield data.
Positive Factors
Niche subsea composites expertise
Matrix's specialized engineering and manufacturing of syntactic foam buoyancy and advanced subsea composites is a durable structural advantage. High technical barriers, certification needs and long project lead times favor incumbents, supporting sustained contract opportunities and pricing resilience over months.
Negative Factors
Significant revenue decline
A sharp revenue decline undermines operating leverage and reduces backlog visibility in a project-driven business. Lower volumes raise per-unit fixed costs, compress margins, and make it harder to retain skilled capacity. Prolonged weakness in offshore capex would materially delay margin recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Niche subsea composites expertise
Matrix's specialized engineering and manufacturing of syntactic foam buoyancy and advanced subsea composites is a durable structural advantage. High technical barriers, certification needs and long project lead times favor incumbents, supporting sustained contract opportunities and pricing resilience over months.
Read all positive factors
Matrix Composites & Engineering Ltd (MCE) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$88.75M
Dividend YieldN/A
Average Volume (3M)287.58K
Price to Earnings (P/E)―
Beta (1Y)1.08
Revenue Growth-36.31%
EPS Growth-245.99%
CountryAU
Employees383
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)-0.05
Shares Outstanding224,685,990
10 Day Avg. Volume93,359
30 Day Avg. Volume287,579
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)1.66
Price to Sales (P/S)0.65
P/FCF Ratio-9.25
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$87.70M
Matrix Composites & Engineering Ltd Business Overview & Revenue Model
Company Description
Matrix Composites & Engineering Ltd (MCE.AX), an Australian company headquartered in Henderson and established in 1990, specializes in the global design, engineering, manufacturing, and distribution of sophisticated composite and material technolo...
How the Company Makes Money
MCE makes money primarily by selling engineered composite products and associated services to customers operating in offshore/subsea environments. Its key revenue streams include: (1) Product sales of syntactic foam buoyancy and related subsea/off...
Matrix Composites & Engineering Ltd Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
40
Negative
Cash Flow
35
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 62.24M | 74.77M | 85.04M | 47.20M | 28.63M | 17.62M |
| Gross Profit | 2.46M | 10.77M | 17.53M | 3.99M | 1.20M | -3.56M |
| EBITDA | -2.95M | 3.67M | 11.77M | 14.64M | -42.00K | -21.18M |
| Net Income | -12.66M | -2.22M | 3.65M | 8.68M | -4.78M | -27.92M |
Balance Sheet | ||||||
| Total Assets | 78.49M | 80.78M | 95.15M | 79.89M | 33.22M | 36.50M |
| Cash, Cash Equivalents and Short-Term Investments | 18.03M | 18.34M | 23.32M | 20.02M | 7.59M | 7.16M |
| Total Debt | 69.94M | 37.06M | 39.39M | 35.48M | 27.26M | 27.72M |
| Total Liabilities | 58.15M | 51.45M | 64.14M | 53.12M | 34.52M | 39.36M |
| Stockholders Equity | 20.34M | 29.32M | 31.02M | 26.77M | -1.30M | -2.86M |
Cash Flow | ||||||
| Free Cash Flow | 3.04M | -5.27M | 6.54M | -13.23M | -5.66M | -7.04M |
| Operating Cash Flow | 5.67M | -416.00K | 10.88M | -10.68M | -4.11M | -3.91M |
| Investing Cash Flow | -3.19M | -5.14M | 2.99M | -9.99M | -1.45M | -3.13M |
| Financing Cash Flow | -482.00K | -50.00K | -3.10M | 25.63M | 5.99M | -475.00K |
Matrix Composites & Engineering Ltd Technical Analysis
Positive
0.25
Price Trends
0.39
Positive
0.32
Positive
0.28
Positive
Market Momentum
<0.01
Positive
63.74
Neutral
66.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MCE, the sentiment is Positive. The current price of 0.25 is below the 20-day moving average (MA) of 0.39, below the 50-day MA of 0.39, and below the 200-day MA of 0.28, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 63.74 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:MCE.
Matrix Composites & Engineering Ltd Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | AU$972.35M | 32.47 | 42.55% | 5.24% | -16.50% | -24.00% | |
69 Neutral | AU$1.01B | 32.63 | 5.61% | 4.17% | -34.08% | -36.57% | |
67 Neutral | AU$736.57M | 20.33 | 22.89% | 2.51% | 1.87% | -23.48% | |
65 Neutral | AU$2.96B | 27.86 | 20.27% | 2.65% | 26.80% | 40.18% | |
64 Neutral | AU$5.36B | 33.92 | 7.97% | 3.11% | -4.99% | 120.98% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
44 Neutral | AU$88.75M | -6.97 | -50.97% | ― | -36.31% | -245.99% |
* Industrials Sector Average
AU:MCE
Matrix Composites & Engineering Ltd
0.40
0.20
97.50%
AU:DOW
Downer EDI Limited
8.09
2.00
32.80%
AU:LYL
Lycopodium Limited
18.99
9.11
92.25%
AU:MND
Monadelphous Group Limited
30.12
13.25
78.52%
AU:GNG
GR Engineering Services Ltd
5.52
2.43
78.93%
AU:CVL
Civmec Singapore Limited Shs Chess Deposit Interests Repr 1 Sh
1.99
0.99
99.90%
Matrix Composites & Engineering Ltd Corporate Events
Harvest Lane lifts stake in Matrix Composites & Engineering
Jun 22, 2026
Harvest Lane Asset Management and its associated entities have increased their substantial shareholding in Matrix Composites Engineering Ltd, lifting their voting power from 11.5% to 13.1%. The change reflects additional acquisitions of ordinary ...
Matrix Advances Court-Backed Takeover by Advanced Innergy With Scheme Booklet Dispatch
Jun 5, 2026
Matrix Composites Engineering has dispatched its scheme booklet to shareholders as it progresses a proposed acquisition by Advanced Innergy Solutions Australia, a subsidiary of Advanced Innergy Holdings. The Federal Court has ordered a scheme mee...
Matrix Wins ASIC Nod for Scheme Booklet on Advanced Innergy Takeover
Jun 4, 2026
Matrix Composites Engineering Ltd has had its scheme booklet for the proposed acquisition by Advanced Innergy Solutions Australia Pty Ltd registered by the Australian Securities and Investments Commission. The document outlines the terms of the p...
Harvest Lane Lifts Stake in Matrix Composites & Engineering to 11.5%
Jun 3, 2026
Harvest Lane Asset Management and its associated entities have increased their substantial shareholding in Matrix Composites Engineering Limited. Their voting interest in the company’s ordinary shares has risen from 10.42% to 11.50%, based ...
Matrix Wins Court Nod to Put Advanced Innergy Takeover to Shareholder Vote
Jun 3, 2026
Matrix Composites Engineering has secured Federal Court approval to convene a shareholder meeting on 6 July 2026 to vote on a proposed scheme of arrangement under which Advanced Innergy Solutions Australia, a subsidiary of Advanced Innergy Holdin...
Harvest Lane Lifts Stake in Matrix Composites & Engineering to Over 10%
May 12, 2026
Harvest Lane Asset Management and its associated entities have increased their substantial holding in Matrix Composites Engineering, lifting their stake from 8.48% to 10.42% of the company’s voting shares. The higher holding, spread across ...
Harvest Lane Lifts Stake in Matrix Composites & Engineering to 8.48%
May 6, 2026
Harvest Lane Asset Management and its associated entities have increased their substantial shareholding in Matrix Composites Engineering Ltd, lifting their voting power from 7.47% to 8.48% of the company’s ordinary shares. The higher stake,...
Matrix Composites & Engineering Cancels 146,144 Lapsed Performance Rights
Apr 29, 2026
Matrix Composites Engineering has reported the lapse of 146,144 performance rights, which ceased after conditions attached to those rights were not met or became incapable of being satisfied as of 28 April 2026. The cancellation modestly reduces ...
Harvest Lane Lifts Stake in Matrix Composites & Engineering to 7.47%
Apr 28, 2026
Harvest Lane Asset Management and its associated entities have increased their substantial shareholding in Matrix Composites Engineering Limited. Their voting power has risen from 5.35% to 7.47% of the company’s ordinary shares, based on 22...
Advanced Innergy moves to acquire Matrix Composites & Engineering in all-cash deal
Apr 19, 2026
Advanced Innergy Holdings Limited has agreed to acquire all ordinary shares of Matrix Composites Engineering Ltd for $0.40 in cash per share via a scheme of arrangement, with the offer described as best and final in the absence of a superior prop...
Matrix backs Advanced Innergy’s premium cash bid in agreed takeover
Apr 19, 2026
Matrix Composites Engineering has agreed to be acquired by Advanced Innergy Holdings under a scheme of arrangement in which AIH will purchase 100% of Matrix’s shares for $0.40 in cash per share. The offer represents substantial premiums to ...
Matrix Composites & Engineering flags lapse of 181,046 performance rights
Apr 13, 2026
Matrix Composites Engineering has announced the cessation of 181,046 performance rights, recorded as ASX security code MCEAA. The rights lapsed on 31 March 2026 after the conditional requirements attached to them were not met or became incapable ...
Perpetual Ceases to Be Substantial Holder in Matrix Composites & Engineering
Apr 8, 2026
Perpetual Limited and its related bodies corporate have notified Matrix Composites Engineering Limited that they have ceased to be a substantial holder in the company as of 2 April 2026. The change, formalised in a substantial holding notice sign...
Advanced Innergy tables premium bid for Matrix Composites & Engineering
Mar 30, 2026
Advanced Innergy Holdings Ltd has lodged a non‑binding, indicative proposal to acquire all shares in Matrix Composites Engineering Ltd for AUD$0.40 per share in cash via a scheme of arrangement. The offer represents premiums of around 65%&#...
Matrix Receives Non-Binding $0.40-Per-Share Takeover Approach From Advanced Innergy
Mar 30, 2026
Matrix Composites Engineering has received a confidential, non-binding and indicative cash proposal from Advanced Innergy Holdings to acquire all Matrix shares at $0.40 per share, subject to due diligence, regulatory approvals, and final transact...
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.