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NGX Limited
(Sydney:NGX)
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Rating:44Neutral
Price Target:
AU$0.08
▼(-54.12% Downside)
Action:Reiterated
Date:04/24/26
The score is held down primarily by weak financial performance (ongoing large losses and cash burn), with bearish technicals adding further pressure. Valuation is not a clear positive because the negative P/E is driven by unprofitability and there is no dividend yield data to provide support.
Positive Factors
Market franchise
Operating the national exchange positions NGX as critical market infrastructure with durable client relationships and recurring flows. As the primary venue for listings, trading and post-trade services, the business benefits from structural stickiness and network effects that support stable long-term fee income.
Negative Factors
Persistent unprofitability
Sustained net losses indicate the core business currently fails to cover operating costs. Persistent unprofitability erodes retained equity, constrains reinvestment capacity, and increases reliance on external funding. Without structural margin improvement, long-term viability and value creation remain at risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Market franchise
Operating the national exchange positions NGX as critical market infrastructure with durable client relationships and recurring flows. As the primary venue for listings, trading and post-trade services, the business benefits from structural stickiness and network effects that support stable long-term fee income.
Read all positive factors
NGX Limited (NGX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$7.16M
Dividend YieldN/A
Average Volume (3M)41.17K
Price to Earnings (P/E)―
Beta (1Y)0.08
Revenue GrowthN/A
EPS Growth11.46%
CountryAU
Employees15
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.02
Shares Outstanding90,611,840
10 Day Avg. Volume51,030
30 Day Avg. Volume41,172
Financial Highlights & Ratios
PEG Ratio-0.34
Price to Book (P/B)1.17
Price to Sales (P/S)51.77
P/FCF Ratio-5.38
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
NGX Limited Business Overview & Revenue Model
Company Description
NGX Limited is primarily engaged in advancing and exploring graphite deposits situated in Malawi. The company possesses full ownership of four distinct graphite ventures within Malawi: the Nanzeka, Duwi, Malingunde, and Mabuwa projects. Establishe...
How the Company Makes Money
NGX Limited makes money primarily by providing exchange and post-trade related services to issuers, brokers, investors, and data users across the Nigerian capital market. Key revenue streams include: (1) Listing-related income: fees charged to com...
NGX Limited Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
60
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 233.18K | 233.18K | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 233.18K | 233.18K | 0.00 | 0.00 | -135.92K | 0.00 |
| EBITDA | -3.75M | -2.47M | -2.69M | -1.51M | -449.18K | 0.00 |
| Net Income | -3.73M | -2.50M | -2.39M | -3.49M | -585.10K | -656.00 |
Balance Sheet | ||||||
| Total Assets | 9.34M | 10.50M | 12.82M | 15.36M | 40.00 | 2.00 |
| Cash, Cash Equivalents and Short-Term Investments | 2.67M | 3.81M | 5.98M | 8.75M | 2.00 | 2.00 |
| Total Debt | 0.00 | 0.00 | 0.00 | 34.85K | 549.72K | 106.41K |
| Total Liabilities | 242.40K | 167.26K | 139.49K | 350.21K | 694.54K | 109.41K |
| Stockholders Equity | 9.10M | 10.34M | 12.68M | 15.01M | -694.50K | -109.41K |
Cash Flow | ||||||
| Free Cash Flow | -3.38M | -2.24M | -2.72M | -932.05K | 0.00 | 0.00 |
| Operating Cash Flow | -3.38M | -2.24M | -2.55M | -929.88K | 0.00 | 0.00 |
| Investing Cash Flow | 70.43K | 70.43K | -170.65K | 142.02K | 0.00 | 0.00 |
| Financing Cash Flow | 0.00 | 0.00 | -34.85K | 9.54M | 0.00 | 0.00 |
NGX Limited 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% | |
44 Neutral | AU$7.16M | -3.89 | -38.41% | ― | ― | 11.46% | |
44 Neutral | AU$5.53M | -1.98 | -13.72% | ― | ― | -313.46% | |
43 Neutral | AU$4.20M | -0.40 | -327.17% | ― | ― | -179.17% | |
43 Neutral | AU$3.47M | -0.37 | -0.03% | ― | ― | -18.33% | |
43 Neutral | AU$10.18M | -4.06 | -148.04% | ― | ― | -17.86% | |
42 Neutral | AU$4.48M | -0.26 | -122.57% | ― | ― | 17.72% |
* Basic Materials Sector Average
AU:NGX
NGX Limited
0.08
-0.07
-48.00%
AU:YAR
Consolidated Zinc Limited
0.01
0.00
0.00%
AU:CMO
Cosmo Metals Limited
0.01
-0.01
-50.00%
AU:GES
Genesis Resources Limited
0.01
<0.01
30.00%
AU:IMI
Infinity Mining Limited
0.01
0.00
0.00%
AU:ADC
ACDC Metals Ltd
0.05
-0.02
-29.23%
NGX Limited Corporate Events
NGX Uncovers High-Grade Rutile Near Malawi Graphite Project
Jul 27, 2026
NGX Limited has reported encouraging results from a maiden hand-auger drilling program at the Msinja Prospect in Malawi, located less than 2 kilometres from its Malingunde Graphite Project. The program identified high-grade, shallow rutile mineral...
NGX Director’s Incentive Options Expire Without Exercise
Jun 17, 2026
NGX Limited has reported a change in the indirect interests of director Matthew Bungey, reflecting the expiry of a tranche of unlisted incentive options. Bungey, who holds interests via Trigg Capital Pty Ltd and Foxglove Capital Pty Ltd, saw 250,0...
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.