Highcom Ltd (HCL) Fair Value & Analysis
Industrials · AU · Market cap A$16.3M (≈ $11.7M) · ISIN AU0000309015
What is Highcom Ltd really worth?
A solid business, but trading 14% above our fair value of A$0.1100.
Risks
Fair value as of: Aug 25, 2026
From 1 valuation models · updated 11 days ago
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (A$0.0700 to A$0.1300) leaves room in how you read the outcome.
- Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 25, 2026.
How to read this chart
60‑month range A$0.0920 – A$0.7600 · fair‑value band A$0.0700 – A$0.1300 · the A$0.1250 price screens above the A$0.1100 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 25, 2026.
Analysis
Highcom Ltd (HCL) currently trades at A$0.1250, while our model-based Fair Value estimate is A$0.1100, implying the stock looks roughly 13.6% overvalued today. The Quality Score stands at 51/100 (solid quality), in the Industrials sector. How firm this estimate is: it rests on 1 models at a data quality of 91/100, which puts the evidence level at low.
Over the trailing twelve months, Highcom Ltd generated revenue of A$32.4M at a net margin of −28.4%. Revenue declined 59.1% year over year. It earns a return on equity of −33.1%. Fundamentals as of Aug 25, 2026
Our scenario range runs from A$0.0700 (bear case) to A$0.1300 (bull case); at A$0.1250, the current price sits within 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. The share trades about 76% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −44% fair-value upside, at −12%, HCL screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 1 models by family
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 25, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 52 · Market factors (momentum, volatility) 19
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
HighCom Limited provides armors and technologies for defense sectors in Australia, the Asia Pacific, North America, Europe, and internationally. It operates through two segments, Armour Division and Technology Division. The company offers armour products comprising body armour, ballistic helmets, shields, composite armour panels, and platform structures.
Full company description
HighCom Limited provides armors and technologies for defense sectors in Australia, the Asia Pacific, North America, Europe, and internationally. It operates through two segments, Armour Division and Technology Division. The company offers armour products comprising body armour, ballistic helmets, shields, composite armour panels, and platform structures. It also provides uncrewed aerial systems, control systems, and sensors, as well as project management, engineering, integration, repair and maintenance services, product support, and training services. The company was formerly known as XTEK Limited and changed its name to HighCom Limited in November 2023. HighCom Limited was incorporated in 2003 and is based in Symonston, Australia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Highcom Ltd reported revenue of A$48.3M in FY2025 versus A$28.2M in FY2021, a compound +14.4%/yr. Reported net income was −A$1.2M in FY2025.
HCL screens 14% overvalued. Compare with General Electric Company →
Peer Group
Aerospace & Defense · 229 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 Aerospace & Defense median · lower = cheaper
Strength profile in five axes (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.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate (as of Aug 25, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| General Electric Company GE | $335.71 | $116.71 | −65% |
| RTX Corporation RTX | $212.08 | $88.37 | −58% |
| Airbus SE AIR | €213.00 | €117.01 | −45% |
| Lockheed Martin Corporation LMT | $565.89 | $419.01 | −26% |
| Howmet Aerospace Inc HWM | $264.85 | $50.43 | −81% |
| General Dynamics Corporation GD | $379.32 | $274.32 | −28% |
| Northrop Grumman Corporation NOC | $545.57 | $356.59 | −35% |
| TransDigm Group TDG | $1,235 | $571.03 | −54% |
| L3Harris Technologies, Inc LHX | $262.82 | $146.55 | −44% |
| Thales S.A HO | €243.70 | €171.13 | −30% |
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