Calix Limited (CXL) Fair Value & Analysis

Basic Materials · AU · Market cap A$69.1M

Below-average quality, and screening another 78% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (A$0.0900). The favourable scenario is already priced in.
• Weak quality (22/100) 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.
• A fairly wide model range (A$0.0400 to A$0.0900) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range A$0.2600 – A$9.23 · fair‑value band A$0.0400 – A$0.0900 · the A$0.3250 price screens above the A$0.0700 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Calix Limited (CXL) currently trades at A$0.3250, while our model-based Fair Value estimate is A$0.0700, implying the stock looks roughly 78.5% overvalued today. The Quality Score stands at 22/100 (below-average quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Trailing-twelve-month revenue stands at A$31.0M. Revenue grew 20.7% year over year. It earns a return on equity of -73.0%. The balance sheet holds a net cash position of A$20.4M. Fundamentals as of Aug 13, 2026

Our scenario range runs from A$0.0400 (bear case) to A$0.0900 (bull case); at A$0.3250, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Basic Materials peers we cover trades at -68% fair-value upside, at -78%, CXL screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Asset-Based (A$0.2700) versus Dividend Discount (A$0.0600). Highest evidence: Gordon GGM (70).

Key figures & financial health

Quality Score breakdown

About the company

Calix Limited, an environmental technology company, provides industrial solutions to address global decarbonisation and sustainability challenges in Australia, Asia-Pacific, the United States, Europe, the Middle East, and Africa. It operates through Magnesia, Leilac, and Sustainable Processing (SusPro) segments.

Full company description

Calix Limited, an environmental technology company, provides industrial solutions to address global decarbonisation and sustainability challenges in Australia, Asia-Pacific, the United States, Europe, the Middle East, and Africa. It operates through Magnesia, Leilac, and Sustainable Processing (SusPro) segments. The company's solutions include ACTI-Mag, a wastewater solution; AQUA-Cal+, a water conditioner for aquaculture farming; BOOSTER-Mag, an agricultural solution for increased yield, fertilizer usage, insect/pest management, and fungal control; and low emissions intensity lime and cement to mitigate carbon dioxide emissions. It also provides electric calcination for electric age; marine coatings for marine-fouling and corrosion control; and advanced batteries. The company serves cement and lime, iron and steel, lithium and critical minerals, alumina, direct air capture, water, and agriculture industries. Calix Limited was incorporated in 2005 and is headquartered in Sydney, Australia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Calix Limited reported revenue of A$27.7M in FY2025 versus A$19.2M in FY2021, a compound +9.6%/yr. Reported net income was −A$19.2M in FY2025.

CXL screens 78% overvalued. Compare with Linde plc →

Peer Group

Specialty Chemicals · 671 stocks

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.

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

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

Values & ESG

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.