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HighCom Limited (HCL) Fair Value & Analysis

Industrials · AU · Market cap A$23.4M

HL HighCom Limited HCL · AU
PriceA$0.1050
Fair ValueA$0.1100
Upside+4.8%
Quality91/100
Evidence: Low Range A$0.0700 – A$0.1300

Fair value as of: Jun 26, 2026

From 1 valuation models · updated 3 days ago

Fair value updated Jun 26, 2026 — revised from A$0.9500 to A$0.1100 (−88.4%) since Jun 24, 2026. Share price −36.4% over the past month.

Price vs Fair Value (12 months)

A$0.5000 A$0.1050 Fair Value A$0.1100 Jun 2025 Jun 2026

12‑month range A$0.1050 – A$0.5000 · fair‑value band A$0.0700 – A$0.1300 · the A$0.1050 price screens below the A$0.1100 fair value. As of Jun 26, 2026.

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Analysis

HighCom Limited (HCL) currently trades at A$0.1050, while our model-based Fair Value estimate is A$0.1100 — implying the stock looks roughly 4.8% undervalued today. We read business quality at 91/100 (high quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low) — always confirm before acting.

Over the trailing twelve months, HighCom Limited 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 Jun 26, 2026

Key figures & financial health

Revenue (TTM) A$32.4M
Revenue growth (YoY) -59.1%
Net margin -28.4%
Return on equity -33.1%
Free cash flow −A$460K FY2024
Operating margin -55.5%
More key figures
EPS (TTM) A$-0.0900

Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.

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. 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.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

HighCom Limited 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.

Revenue +14.4%/yr
FY21 A$28.2M
FY22 A$58.6M
FY23 A$89.5M
FY24 A$45.5M
FY25 A$48.3M
Net income
FY21 −A$4.0M
FY22 A$5.7M
FY23 A$6.1M
FY24 −A$12.0M
FY25 −A$1.2M

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Similar stocks

6 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate (as of Jun 26, 2026).

Stock Price Fair Value vs Fair Value
General Electric Company GE C$46.59 C$11.06 -76%
RTX Corporation RYTT34 R$155.45 R$83.92 -46%
The Boeing Company BCO €198.20 €51.07 -74%
Airbus SE EADSF $217.43 $138.69 -36%
Safran SA SAFRY $94.54 $57.23 -39%
Rolls-Royce Holdings RYCEY $18.79 $9.46 -50%

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Frequently asked questions

Is HighCom Limited (HCL) undervalued?
As of Jun 26, 2026, our model estimates a fair value of A$0.1100 versus a price of A$0.1050 — about +5% (undervalued). Model-based estimate, not financial advice.
What is the fair value of HCL?
Our 21-model fair value for HighCom Limited is A$0.1100 (as of Jun 26, 2026), built from audited fundamentals. The current price is A$0.1050.
What is the quality score of HCL?
HighCom Limited has a Quality Score of 91/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of HighCom Limited (HCL)?
HighCom Limited reported trailing-twelve-month revenue of about A$32.4M (latest available figure, as of Jun 26, 2026).
What is the net profit margin of HCL?
The net profit margin of HighCom Limited is about -28.4%, meaning it is currently running at a net loss. Based on the latest reported figures.

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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.