ALPHA HPA LIMITED (A4N)
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A4N

A4N - ALPHA HPA LIMITED

FNArena Sector : Aluminium, Bauxite & Alumina
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: -0.2
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.75

03 Feb
2026

-0.020

OPEN

$0.78

-2.60%

HIGH

$0.78

2,028,267

LOW

$0.74

TARGET
$2.00 166.7% upside
OTHER COMPANIES IN THE SAME SECTOR
AAI . CAA . CAY . LIN . RIO .
FNARENA'S MARKET CONSENSUS FORECASTS
A4N: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx - 2.9 - 3.4 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A N/A xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-2.9
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx0.3 M
Book Value Per Share xxxxxxxxxxxxxxx19.3
Net Operating Cash Flow xxxxxxxxxxxxxxx-18.2 M
Net Profit Margin xxxxxxxxxxxxxxx-10,253.09 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-13.97 %
Return on Invested Capital xxxxxxxxxxxxxxx-13.86 %
Return on Assets xxxxxxxxxxxxxxx-11.82 %
Return on Equity xxxxxxxxxxxxxxx-13.97 %
Return on Total Capital xxxxxxxxxxxxxxx-18.25 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-103.8 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx8 M
Long Term Debt xxxxxxxxxxxxxxx0 M
Total Debt xxxxxxxxxxxxxxx8 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx102 M
Price To Book Value xxxxxxxxxxxxxxx4.44

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx85.5 M
Capex % of Sales xxxxxxxxxxxxxxx26,941.70 %
Cost of Goods Sold xxxxxxxxxxxxxxx3 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx41 M
Research & Development xxxxxxxxxxxxxxx3 M
Investments - Total xxxxxxxxxxxxxxx4 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
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Sentiment Indicator

1.0

No. Of Recommendations

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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Bell Potter

06/11/2025

1

Speculative Buy

$2.00

166.67%

Alpha HPA announced its $30m QIC-backed debt facility is now binding. Separately, the company received positive commentary regarding its $400m senior debt facility with NAIF and Export Finance Australia ahead of financial close.

Bell Potter highlights these two announcements materially reduce funding risk, with total available cash, debt, and grants as of 30 Sept 2025 around $550m, above Stage 2 capital cost needs by $100m.

The broker reminds about 70% of the company's volumes are under LOIs with semiconductor-sector customers, focusing on CMP abrasives and zero-alpha radiation thermal interface materials. Demand is building, with LOI expansions, new drafts, and product testing across 10 Japan/US OEMs.

Expectation is for full LOI coverage by March 2026 and ramp-up of commercial production from 2027.

Speculative Buy. Target unchanged at $2.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -2.80 cents.
Bell Potter forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.50 cents.
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EXTRA COVERAGE
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No. Of Recommendations

0

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY
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A4N STOCK CHART

FNArena News on A4N

Latest Aluminium, Bauxite & Alumina News

1
Is Aluminium Pivoting Towards A Structural Bull Market?

Sep 14 2021 - Commodities
2
Weekly Ratings, Targets, Forecast Changes – 17-07-20

Jul 20 2020 - Weekly Reports
3
Treasure Chest: Can Alumina Maintain Dividends?

Jul 11 2019 - Treasure Chest
4
Alumina Strikes Record Earnings, Dividend

Feb 25 2019 - Australia
5
Treasure Chest: More Upside For Alumina?

Apr 19 2018 - Treasure Chest
6
Weekly Ratings, Targets, Forecast Changes

Dec 12 2016 - Weekly Reports
7
Material Matters: US Energy, Coal, Chrome, Steel And Oz Miners

Nov 17 2016 - Commodities
8
Alumina Ltd Cuts A Better Deal From JV

Sep 05 2016 - Australia
9
Alumina Ltd Basks In Higher Margins

Jul 13 2016 - Australia
10
Next Week At A Glance

Jul 08 2016 - Weekly Reports