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First Graphene Valuation Multiples

Discover First Graphene's revenue and EBITDA valuation multiples and M&A history.

First Graphene Overview

About First Graphene

First Graphene Ltd is an advanced materials company. It is the producer of graphene which is exfoliated from high-grade, crystalline Sri Lankan graphite. The company's graphene products are used in Fire retardant coatings, Concrete strengthening, Battery electrode materials, Conductive inks and sensors, Rubber and composite strengthening and Moisture barrier in thermoset composites. Its operating segments includes Graphene production; Research and development; Corporate services and Mining Asset Maintenance. The company generates maximum revenue from the Graphene production segment.


Founded

1920

HQ

Australia

Employees

14

Financials (FY)

Revenue: $334K
EBITDA: ($3M)

EV

$33M

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First Graphene Financials

First Graphene reported last fiscal year revenue of $334K and negative EBITDA of ($3M).

In the same fiscal year, First Graphene generated $72K in gross profit, ($3M) in EBITDA losses, and had net loss of ($4M).


First Graphene P&L

In the most recent fiscal year, First Graphene reported revenue of $334K and EBITDA of ($3M).

First Graphene is unprofitable as of last fiscal year, with gross margin of 22%, EBITDA margin of (794%), and net margin of (1171%).

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Last FY202320242025202620272028
Revenue$334K$867K$343K$334K
Gross Profit$72K$527K$72K$72K
Gross Margin22%61%21%22%
EBITDA($3M)($3M)($3M)($3M)
EBITDA Margin(794%)(355%)(823%)(794%)
EBIT Margin(1115%)(438%)(1167%)(1115%)
Net Profit($4M)($4M)($4M)($4M)
Net Margin(1171%)(460%)(1169%)(1171%)

Financial data powered by Morningstar, Inc.

First Graphene Stock Performance

First Graphene has current market cap of $36M, and enterprise value of $33M.


First Graphene's stock price is $0.04.

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EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$33M$36M-0.6%---$-0.00

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First Graphene Valuation Multiples

First Graphene trades at 97.6x EV/Revenue multiple, and (12.3x) EV/EBITDA.

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First Graphene Financial Valuation Multiples

As of June 5, 2026, First Graphene has market cap of $36M and EV of $33M.

First Graphene has a P/E ratio of (9.2x).

Last FY202320242025202620272028
EV/Revenue97.6x37.6x95.2x97.6x
EV/EBITDA(12.3x)(10.6x)(11.6x)(12.3x)
EV/EBIT(8.8x)(8.6x)(8.2x)(8.8x)
EV/Gross Profitn/m61.9xn/mn/m
P/E(9.2x)(9.0x)(8.9x)(9.2x)
EV/FCF(16.4x)(14.3x)(16.2x)(16.4x)

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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First Graphene Margins & Growth Rates

In the most recent fiscal year, First Graphene reported gross margin of 22%, EBITDA margin of (794%), and net margin of (1171%).

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First Graphene Margins

Last FY20242025202720282029
Gross Margin22%21%22%
EBITDA Margin(794%)(823%)(794%)
EBIT Margin(1115%)(1167%)(1115%)
Net Margin(1171%)(1169%)(1171%)
FCF Margin(594%)(588%)(594%)

First Graphene Growth Rates

23/2424/2526/2727/2828/29
Revenue Growth(60%)(2%)
Gross Profit Growth(86%)0%
EBITDA Growth(8%)(6%)
EBIT Growth5%(7%)
Net Profit Growth1%(2%)
FCF Growth(12%)(2%)

Data powered by FactSet, Inc. and Morningstar, Inc.

First Graphene Operational KPIs

First Graphene's revenue per employee in the last FY averaged $0.0M, while opex per employee averaged $0.3M for the same period.

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Last FY202320242025202620272028
Revenue per Employee$0.0M---
Opex per Employee$0.3M---
S&M Expenses to Revenue50%13%42%50%
G&A Expenses to Revenue691%317%691%691%
R&D Expenses to Revenue102%78%153%102%
Opex to Revenue1137%499%1188%1137%

Data powered by FactSet, Inc. and Morningstar, Inc.

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First Graphene Competitors

EV/RevenueEV/EBITDA
Last FYLTM2027ELast FYLTM2027E

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Acquisitions by First Graphene

First Graphene has acquired 3 companies to date.

Last acquisition by First Graphene was on June 2nd 2026. First Graphene acquired Mito Material Solutions for $1M (EV/Revenue multiple available to Pro users).

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Latest Acquisitions by First Graphene

Mito Material Solutions
Ionic Industries
Imagine Intelligent Materials
Description
Mito Material Solutions is a materials science company offering the MITO T-Series nano-additive for epoxy and resin composites. This additive doubles toughness in composite parts and reduces mechanical failure risk by 80 percent, enabling options like 100 percent toughness increase or 35 percent material reduction. Applications span recreational vehicles for fiberglass shells, boating for hulls, and aerospace for weight savings of tens of thousands of pounds per aircraft. Headquartered in the United States, the company targets manufacturers seeking lighter, stronger components to cut costs and improve performance.
Ionic Industries is a Perth-based company commercializing graphene-enhanced materials. Its graphene oxide dispersions improve concrete strength by 30 percent and battery electrode conductivity. Partnering with universities and manufacturers, Ionic supplies additives for construction, energy storage, and composites across Australia.
Imagine Intelligent Materials is a graphene commercialization company integrating the material into industrial supply chains with quality assurance processes. Founded in 2014 in Belfast, Northern Ireland, it produces graphene-enhanced additives for composites, coatings, and lubricants. The firm collaborates with manufacturers in automotive and aerospace sectors across Europe, focusing on scalable production methods.
HQ CountryUnited StatesAustraliaAustralia
HQ City
Indianapolis, IN
Melbourne
Geelong
Deal Date2 Jun 202626 Apr 202626 Apr 2026
Valuation$1Mundisclosedundisclosed
EV/Revenue
EV/EBITDA

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About First Graphene

When was First Graphene founded?First Graphene was founded in 1920.
Where is First Graphene headquartered?First Graphene is headquartered in Australia.
How many employees does First Graphene have?As of today, First Graphene has over 14 employees.
Is First Graphene publicly listed?Yes, First Graphene is a public company listed on Australian Securities Exchange.
What is the stock symbol of First Graphene?First Graphene trades under FGR ticker.
When did First Graphene go public?First Graphene went public in 1994.
Who are competitors of First Graphene?First Graphene main competitors include
What is the current market cap of First Graphene?First Graphene's current market cap is $36M.
What is the current revenue of First Graphene?First Graphene's last fiscal year revenue is $334K.
What is the current EV/Revenue multiple of First Graphene?Current revenue multiple of First Graphene is 97.6x.
Is First Graphene profitable?No, First Graphene is not profitable.
How many companies First Graphene has acquired to date?As of June 2026, First Graphene has acquired 3 companies.
What was the largest acquisition by First Graphene?$1M acquisition of Mito Material Solutions on 2nd June 2026 was the largest M&A First Graphene has done to date.
What companies First Graphene acquired?First Graphene acquired Mito Material Solutions, Ionic Industries, and Imagine Intelligent Materials.
In how many companies First Graphene has invested to date?First Graphene hasn't invested in any companies yet (or none have been disclosed publicly).

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