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Financial Trends Australia SLX ASX · Industrials LastA$4.50 JDS 8.8 A360 2.3
Industrials ASX: SLX Australia LIVE

Silex Systems Ltd

PriceA$4.50
Mkt capA$1.21bn
1Y return+3.2%
52-week range
A$3.45A$10.85
Jones Dynamic ScoreDistressed
8.8
α
Alpha360 ScorePoor
2.3
The Jones Nebula

Eight Alpha360 factors, each scored 0 to 100 against every listed stock worldwide. The shape is the investment case at a glance. Understand the scores →

Valuation 6.1 Growth 74.1 Cap. Market Perf. 4.2 Financial Strength 38.1 Analyst Sentiment 54.7 Earnings Perf. 9.3 Operating Eff. 3.1 Cash Flow Perf. 21
Valuation 6.1 Growth 74.1 Cap. Market Perf. 4.2 Financial Strength 38.1 Analyst Sentiment 54.7 Earnings Perf. 9.3 Operating Eff. 3.1 Cash Flow Perf. 21

The Jones Overview

Silex Systems (ASX: SLX) is a high-stakes tech commercialization play whose multi-billion dollar valuation rests entirely on a single asset: its proprietary laser isotope separation technology. The company doesn't have a commercial product or operational revenue yet, burning through roughly $42 million AUD in net losses over the last year. Instead, it relies on a US-based joint venture, Global Laser Enrichment (GLE), to fund development through government grants and milestone payments. Strip away the technical jargon, and SLX is a binary bet on two massive geopolitical bottlenecks: nuclear energy security and the global quantum computing arms race.

The long-term case for the stock centres on the Paducah facility in Kentucky, where the goal is to use Silex lasers to re-enrich 200,000 tonnes of depleted US uranium tails. While the tech recently hit a key engineering milestone (TRL-6) and secured a slice of a $28.5 million USD Department of Energy award, commercial production won't happen until 2030 at the absolute earliest.

The immediate catalyst, however, is Silex's secondary Quantum Silicon (Q-Si) project, which just got a massive tailwind from the Trump administration's $2 billion USD quantum funding package and mandate for an error-corrected quantum computer by 2028. Quantum processors require ultra-pure Silicon-28 to keep qubits stable. With Russia historically dominating this market, Silex is currently building a full-scale production module in Sydney capable of hitting a rare 99.998% purity. Backed by an active offtake framework with Silicon Quantum Computing, Silex is positioning itself to be the primary Western supplier of raw quantum material to a newly cash-flushed US defence ecosystem. If the engineering scales, SLX monopolizes two vital future supply chains; if it stalls, the company has zero fallback revenue to protect its valuation.

What is SLX's share price doing?

1D+3.1% 1W-3.0% 1M-19.1% 3M-26.4% 6M-31.4% 1Y+5.0% 3Y+27.0% 5Y+380.2% ALL+738.2%

How does Silex Systems Ltd score on Alpha360?

The eight tabs below are the Alpha360 factor scores. Built on decades of academic research, Alpha360 grades Silex Systems Ltd from 0 to 100 on each dimension against all listed stocks worldwide, so a reading in the 90s is genuinely top-tier rather than a pass mark, and the Jones Dynamic Score blends all eight into a single number. Each tab gives the score, a read of what it looks like in practice, and the numbers beneath it. Data updated 19 July 2026. General information only. Some metrics via Yahoo Finance where our feed is unavailable.

Valuation
6.1
Distressed

The Alpha360 valuation score weighs price against earnings, book value, cash flow and sales, ranked against all listed stocks worldwide. Silex Systems Ltd screens as expensive against its sector, so investors are paying a premium over peers for each dollar of earnings, book value and cash flow. With earnings negative, the read leans on sales, where the stock trades on about 99.5 times revenue.

Multiples

Price / earnings –
Forward P / E –
PEG ratio 3.88
Price / book 5.75x
Price / sales 99.53x
Price / free cash flow –
EV / sales –
Enterprise value –

Size & income

Market cap A$1.21bn
Shares outstanding 278.51m
Dividend yield –
Dividend / share –
52W range A$3.45 to A$10.85
Growth
74.1
Strong

The Alpha360 growth score reads the multi-year trajectory of revenue, earnings and cash flow, rewarding durable compounding over one-off jumps. Revenue, earnings and cash flow have been expanding quickly, which is what you want from a business that is scaling. Growth off a small base can be lumpy, so the real question is how durable it proves. That trajectory is anchored by three-year revenue growth of 40.6%.

Growth rates (3yr)

Revenue growth 40.56%
Net income growth –
Operating cash flow growth –
Market cap growth 7.03%

Earnings momentum

EPS momentum (1yr) 55.31%
EPS forecast change (3m) -55.16%
Capital Market Performance
4.2
Distressed

The Alpha360 capital-market score measures the shares' price strength and momentum against the market. The shares have lagged the market with poor momentum, which can flag either a value opportunity or a business the market has turned against. Over the past year the shares are up 3.2%.

Price & momentum

Annual stock return 3.21%
Stock return (6m) -41.41%
Beta 2.64
10-day volume vs avg 0.36x
52W range A$3.45 to A$10.85
Financial Strength
38.1
Weak

The Alpha360 financial-strength score stress-tests the balance sheet, its leverage, liquidity and capacity to fund itself. The balance sheet is stretched: heavier debt or thin liquidity leaves the company more exposed if trading weakens or funding tightens. It runs a current ratio of 12.33 and more cash on hand than total debt.

Leverage & liquidity

Debt / equity 1.00
Current ratio 12.33
Quick ratio 12.33
Net debt / EBITDA –
Total debt / assets 0.64%
Cash flow / debt 3.31
Interest coverage -18.80
Market cap / liabilities 165.90
Distress risk (JDS) 8.8 (Very Weak)

Cash runway

Cash runway 5.6 mo
Monthly cash burn A$3.52m

Balance sheet

Revenue A$12.20m
Total assets A$98.96m
Total equity A$90.95m
Total liabilities A$8.01m
Total debt A$910.21k
Net debt -A$81.05m
Cash & equivalents A$19.75m
Working capital A$82.40m
R&D expense –
SG&A expense A$18.36m
Analyst Sentiment
54.7
Average

The Alpha360 analyst-sentiment score reads the direction of professional ratings, targets and forecasts. Analyst opinion is mixed to neutral, with no strong directional lean.

Analyst coverage, consensus ratings and price targets sit inside the members' view, alongside our own rating on Silex Systems Ltd.

Earnings Performance
9.3
Distressed

The Alpha360 earnings score grades the quality, consistency and margin of profit, not just its headline size. Earnings are weak or erratic, with thin or negative margins, so profitability is currently unreliable.

Margins

Gross margin –
EBIT margin -13.95%
EBITDA margin -9.89%
Operating margin -13.95%
Net profit margin -348.71%

Quality & returns

Return on equity -38.19%
Return on assets -35.39%
Earnings stability –
EPS surprise -309.10%
Operating Efficiency
3.1
Distressed

The Alpha360 efficiency score measures how much profit the business earns on each dollar of capital and revenue. The business earns poor returns on the capital invested in it, so it is not using its asset base efficiently right now. Return on equity comes in at -38.2%.

Returns on capital

Return on equity -38.19%
Return on assets -35.39%
Return on capital employed –
Return on invested capital -112.05%
EBIT / total assets -1.72%

Operating margins

Operating margin -13.95%
EBIT margin -13.95%
Cash flow margin -344.64%
Cash Flow Performance
21.0
Distressed

The Alpha360 cash-flow score gauges the strength and durability of the cash the business actually generates. Cash flow is weak or negative, so the company may need to raise capital or draw on reserves to fund itself. Cash flow returns come in at 3.0%.

Cash generation

Cash flow returns 3.05%
Free cash flow -A$42.22m
Free cash flow / share A$-0.15
Operating cash flow / share –
Cash flow margin -344.64%
Capital expenditure -A$161.27k

Coverage

Op cash flow growth (3yr) –
Cash flow / debt 3.31
The method

Every score on this page comes from Alpha360, the eight-factor model built by Professor Stewart Jones from three decades of published academic research, rescored weekly across more than 50,000 listed companies worldwide.

The research behind Alpha360 → Understand the scores → How Alpha360 works →
JDS vs. Industrial Machinery & Supplies & Components Peers
Ranks 12 of 14 in Industrial Machinery & Supplies & Components · ASX rank 1,631 of 1,755

This stock   Financial Trends Australia covered   Universe

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Questions

Common questions about SLX

What is Silex Systems Ltd's Jones Dynamic Score?
Silex Systems Ltd currently scores 8.8 (Very Weak) on the Jones Dynamic Score. The score is recalculated weekly from institutional-grade data.
Is SLX profitable?
Not at the net line on the latest data: Silex Systems Ltd reports a net profit margin of -348.7%.
How does SLX compare to its peers?
Ranked by the Jones Dynamic Score, Silex Systems Ltd sits 12 of 12 in its Industrial Machinery & Supplies & Components peer group. The full peer ranking, with each peer's score, is shown on this page.
Is this personal financial advice?
No. Everything on this page is general information only. It does not take into account your objectives, financial situation or needs, and you should consider whether it is appropriate for you before acting on it. The full General Advice Warning is at the bottom of this page.
What does it cost to see your rating on Silex Systems Ltd?
Nothing. Enter your details in the form on this page and our current rating unlocks instantly, along with a free one-on-one walkthrough of the research with our team if you want it. The full written research note is part of membership.
Who builds the scores?
The Jones Dynamic Score and the Alpha360 factor model were built in-house from three decades of academic research. The system scores companies across global markets and is refreshed weekly.
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General Advice Warning. The information provided by Financial Trends Australia is general in nature and does not take into account your personal objectives, financial situation or needs. It does not constitute personal financial advice. Before acting on any information, you should consider its appropriateness having regard to your own objectives, financial situation and needs, and seek independent professional advice. Where the information relates to a financial product, you should obtain and consider the relevant Product Disclosure Statement (PDS) or offer document before deciding to acquire the product. Past performance is not a reliable indicator of future performance. Financial Trends Australia Pty Ltd (ABN 65 091 191 472) is a Corporate Authorised Representative (AR No. 001320926) of MF & Co. Asset Management Pty Ltd (AFSL No. 520442).