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Cokal Ltd (CKA) fair value: what the stock is really worth

We calculate from audited financials what Cokal Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

Valuation from Jun 11, 2026. With the latest figures (losses, negative cash flow), a fair value can no longer be calculated.
  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Basic Materials · AU · ISIN AU000000CKA8

CL Thin data Jun 11, 2026

Cokal Ltd

CKA · AU

Weakest SetupStrongly overvalued and low quality.

!Fair value A$0.0100 · Strongly overvalued (−80%)
!Quality 17/100
!Weak Growth (revenue 5y −18.5 %/yr)
!Loss-making · -116.4% net margin (TTM)
!Negative equity (buybacks among others) · negative free cash flow
!Trails peers (1/7)
!Narrow moat 10/100
!Evidence only low, so the estimate is less certain
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26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

A$0.2500 A$0.0240 Fair Value A$0.0100 Jul 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jun 11, 2026.

How to read this chart

60‑month range A$0.0240 – A$0.2500 · the A$0.0490 price screens above the A$0.0100 fair value. Dashed = 300-day average. As of Jun 11, 2026.

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Company profile

Cokal Limited, together with its subsidiaries, engages in the identification, exploration, and development of coal in Indonesia, Australia, and Tanzania. The company explores for metallurgical coal deposits. Its flagship project is the 60% owned Bumi Barito Mineral project that covers an area of 14,980 hectares located in Central Kalimantan, Indonesia.

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Cokal Limited, together with its subsidiaries, engages in the identification, exploration, and development of coal in Indonesia, Australia, and Tanzania. The company explores for metallurgical coal deposits. Its flagship project is the 60% owned Bumi Barito Mineral project that covers an area of 14,980 hectares located in Central Kalimantan, Indonesia. Cokal Limited is based in Sydney, Australia.

Stock analysis

Cokal Ltd (CKA) currently trades at A$0.0490, while our model-based Fair Value estimate is A$0.0100, implying the stock looks roughly 390.0% overvalued today.

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Valuation

How firm this estimate is: it rests on 5 models at a data quality of 95/100, which puts the evidence level at low.

Quality & growth

The Quality Score stands at 17/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Cokal Ltd reported revenue of $3.4M in FY2025 versus $3.4K in FY2021, a compound +461.2%/yr. Reported net income was −$7.3M in FY2025.

Key figures

Market cap A$58.3M (≈ $40.9M) · P/S ratio 15.0 · EPS (TTM) A$−0.0100 · Net margin −116% · Return on equity −1,395% · Return on assets (EBIT) −15.4% · Operating margin −89.1% · Revenue (TTM) A$3.5M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).

What moves the price

The share trades about 42% below its 52-week high and 58% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −51% fair-value upside, at −80%, CKA screens richer than that median.

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Quality Score breakdown

Overall quality 17/100

Of which business quality 17 · Market factors (momentum, volatility) 55

Profitability 0
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 4
Balance sheet, leverage, solvency risk
Investment 43
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 61
Price trend over the last 3–12 months (market factor)
52W Momentum 51
Distance to the 52-week high (market factor)
Net Issuance 57
Share count: buybacks or dilution?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 0/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−8.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+398.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−18.5%
Start year 2020 (pandemic). Over 10 years: +47.6% a year
Revenue growth 25 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.5%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−23.3% (2020) → −247.8% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

CKA screens 390% overvalued. Compare with Warrior Met Coal, Inc →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Coking Coal · 27 stocks

Beats the industry median on 1/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 17 · Bottom 25%
Fair Value upside −80% · Bottom 25%
Profitability
Return on equity (TTM) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −3% · Below median
Net margin (TTM) −116% · Bottom 25%
Operating margin (TTM) −89% · Bottom 25%
Growth and dividend
Revenue growth 7% · Above median
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Coking Coal median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (TTM) 11.59× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 5
FUTURE (revenue growth)34 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)0 · sector 93
DIVIDEND (yield)0 · sector 21

VALUE 0: the price sits above our fair-value range.

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Coal

Similar stocks

10 more Coking Coal stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Warrior Met Coal, Inc HCC $92.10 $14.38 −84%
PT Alamtri Minerals Indonesia Tbk, ADMR 1,560 IDR 1,214 IDR −22%
Shanxi Meijin Energy Co 000723 ¥3.67 ¥1.24 −66%
Alpha Metallurgical Resources, Inc AMR $188.57 $46.26 −75%
Shougang Fushan Resources Group 0639 HK$2.77 HK$3.81 +38%
Shanxi Coking Co 600740 ¥3.72 ¥1.83 −51%
Kailuan Energy Chemical Co 600997 ¥5.13 ¥3.06 −40%
Baotailong New Materials Co 601011 ¥2.88 ¥1.32 −54%
SunCoke Energy, Inc SXC $9.83 $2.86 −71%
Shandong Jinling Mining Co 000655 ¥7.22 ¥7.94 +10%

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Cokal Ltd · Fair Value
A$0.0100 −390%Fair Value
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Cite: Fair Value Calculator (2026). "Cokal Ltd Fair Value". https://www.fairvalue-calculator.com/stock/CKA

Frequently asked questions

Is Cokal Ltd (CKA) overvalued or undervalued?
As of Jun 11, 2026, our model estimates a fair value of A$0.0100 versus a price of A$0.0490, about −80% upside (overvalued).
What is the fair value of CKA?
Our model-based fair value for Cokal Ltd is A$0.0100 (as of Jun 11, 2026), built from audited fundamentals. The current price: A$0.0490.
What is the quality score of CKA?
Cokal Ltd has a Quality Score of 17/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Cokal Ltd (CKA)?
Our model-based price target is the fair value of A$0.0100 (as of Jun 11, 2026) from 5 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the Cokal Ltd stock forecast for 2026?
Our models put fair value at A$0.0100, about −80% upside versus a price of A$0.0490 (overvalued). The calculation is refreshed regularly with new filings.
What is the revenue of Cokal Ltd (CKA)?
Cokal Ltd reported trailing-twelve-month revenue of about A$3.5M (latest available figure, as of Jun 11, 2026).
What is the intrinsic value of Cokal Ltd (CKA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cokal Ltd it is A$0.0100 per share (as of Jun 11, 2026), against a price of A$0.0490. It is the blended result of 5 valuation models (cash flow, earnings, asset, dividend).
Is Cokal Ltd stock overvalued or undervalued in 2026?
As of Jun 11, 2026, CKA trades above its calculated fair value: price A$0.0490, fair value A$0.0100, a gap of about −80% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CKA?
No. The price is what the market pays today (A$0.0490); the fair value is what the company's own numbers justify (A$0.0100). For Cokal Ltd the two are A$0.0390 per share apart. That gap is exactly why we show both numbers side by side.
How much is Cokal Ltd worth?
The market values Cokal Ltd at about A$58.3M (market capitalisation, as of Jun 11, 2026). Per share that is A$0.0490; our models calculate a fair value of A$0.0100 per share.
How solid is the balance sheet of Cokal Ltd (CKA)?
Balance-sheet figures for Cokal Ltd (as of Jun 11, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 17/100, which measures business quality independently of the share price.
How far is CKA from its 52-week high?
Cokal Ltd trades at A$0.0490, about 42% below its 52-week high of A$0.0840 and 58% above the low of A$0.0310 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of A$0.0100 is for.
Which stocks are comparable to Cokal Ltd?
From the same area (Basic Materials) we also value Warrior Met Coal, Inc, PT Alamtri Minerals Indonesia Tbk,, Shanxi Meijin Energy Co, Alpha Metallurgical Resources, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Cokal Ltd stock attractive at the current price?
The data as of Jun 11, 2026: price A$0.0490, calculated fair value A$0.0100 (−80%), Quality Score 17/100, from 5 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CKA calculated?
We run Cokal Ltd through 5 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of A$0.0100, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0 % above its aggregate fair value. Cokal Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Cokal Ltd (CKA)?
The closing price on Sep 24, 2026 was A$0.0490. Our model-based fair value is A$0.0100, about −80% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cokal Ltd right now?
The price sits above even our optimistic bull case (A$0.0100). The favourable scenario is already priced in. Weak quality (17/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Cokal Ltd

How large is the market capitalisation of Cokal Ltd (CKA)?
The market capitalisation of Cokal Ltd is A$58.3M (≈ $40.9M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Cokal Ltd (CKA)?
The price-to-sales ratio of Cokal Ltd is 15.0 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Cokal Ltd (CKA)?
Earnings per share at Cokal Ltd are A$−0.0100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Cokal Ltd (CKA)?
The net margin of Cokal Ltd is −116% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Cokal Ltd (CKA)?
The return on equity (ROE) of Cokal Ltd is −1,395% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Cokal Ltd (CKA)?
On an EBIT basis the return on assets of Cokal Ltd is −15.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Cokal Ltd (CKA)?
The operating margin of Cokal Ltd is −89.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cokal Ltd (CKA)?
Revenue at Cokal Ltd is growing +6.8% versus a year earlier (3y avg +398%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Cokal Ltd (CKA) generate?
The free cash flow of Cokal Ltd is −A$5.6M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Cokal Ltd (CKA) carry?
The net debt of Cokal Ltd is A$29.6M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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