Guardforce AI Co., Limited (GFAI) AI Stock Analysis
GFAI AI stock analysis summary
AI ResearchGuardforce AI Co., Limited provides cash solutions and cash handling services primarily in Thailand. The company generated $36.3M in trailing twelve-month revenue, but operating margin was -16.9% and net margin was -20.7%. Despite continuous net losses, including -$6.7M in FY2025, GFAI held $17.3M in net cash as of June 30, 2026.
- Market cap
- $6.2M
- Revenue (TTM)
- $36.3M
- P/E
- — fwd 22.6x
- 1Y return
- -81.6% S&P 500 16.8%
- Avg. target
- $4.50 2161.3% vs last close
Bull case
- Gross margin expanded from 3.6% in FY2022 and 4.2% in FY2023 to 15.0% in FY2025.
- Guardforce AI maintained a net cash position of $17.3M with $21.3M in cash and short-term investments as of June 30, 2026.
- The sole covering analyst projects positive EPS of $0.12 and revenue of $39.4M for the next fiscal year.
Bear case
- The company experienced net losses across all five recorded fiscal years, including -$6.7M in FY2025 and a trailing twelve-month net loss margin of -20.7%.
- Free cash flow remained negative across every reported fiscal year, including -$1.7M in FY2025 and -$25.0M in FY2022.
- Significant dilution occurred as the company increased its share count by 6646.6% over a five-year period.
What Guardforce AI does
Established in 2018 and headquartered in Singapore, Guardforce AI Co., Limited provides cash solutions and cash handling services primarily in Thailand. Its service portfolio includes cash-in-transit, secure transportation of funds to banks, ATM management, cash center operations, cash and coin processing, and cheque center services. It also deploys cash deposit machine solutions such as cash deposit management and express cash services to optimize banking operations. Guardforce AI serves clients including local commercial banks, chain retailers, coin manufacturing mints, and government authorities.
Growth and profitability
Revenue grew 0.6% in FY2025 to $35.2M, following a 3.5% decline in FY2024 to $35.0M and a 6.8% increase in FY2023 to $36.3M. From FY2020 to FY2025, revenue posted a 5-year compound annual growth rate of -1.3%. Gross margin expanded from 8.0% in FY2021 and 3.6% in FY2022 to 15.0% in FY2025. Operating margin remained negative across all five years, finishing at -16.7% in FY2025 with an operating margin of -16.9% over the trailing twelve months. Net income was -$6.7M in FY2025 after losses of -$5.9M in FY2024 and -$29.6M in FY2023. In the latest quarter ended June 30, 2026, revenue increased 6.4% year-over-year, while trailing twelve-month EPS was -$0.23.
Balance sheet and cash flow
As of June 30, 2026, the company held $21.3M in cash and short-term investments against total debt of $4.0M, resulting in net cash of $17.3M. Total assets stood at $44.3M and shareholders' equity was $30.7M. Liquidity showed a current ratio of 5.23 and a debt-to-equity ratio of 0.13. Guardforce AI recorded negative operating cash flow of -$1.3M and negative free cash flow of -$1.7M in FY2025, with capital expenditures of $347,986. Over five years, the share count increased 6646.6%.
Valuation and performance
At $0.20 per share on October 16, 2026, GFAI has a market capitalization of $6.2M and an enterprise value of -$9.9M. The stock trades at a price-to-sales multiple of 0.2x and a forward price-to-earnings multiple of 22.6x. By comparison, the median of its US-listed Industrials peers trades at a price-to-sales multiple of 1.5x and a forward price-to-earnings multiple of 17.2x. Over the past year, GFAI shares dropped 81.6% while the SPY index gained 16.8%. Over five years, GFAI fell 99.9%, compared to an 83.0% gain for SPY.
What analysts expect
1 analyst covers GFAI with a mean price target of $4.50, which stands 2161.3% above the last close of $0.20. For the next fiscal year, the analyst projects EPS of $0.12, reflecting expected earnings growth of 9.1%, alongside revenue of $39.4M, representing 4.7% growth. Over the last 4 quarters, the company recorded 0 EPS beats.
Key risks and what to watch
- The 5-year revenue compound annual growth rate of -1.3% indicates stagnant top-line expansion.
- The stock has declined 81.6% over the past year and trades at $0.20, near its 52-week low of $0.19.
- With an operating margin of -16.9% over the trailing twelve months, ongoing operational unprofitability threatens cash reserves.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this GFAI AI stock analysis
This page is an AI-written research summary of Guardforce AI Co., Limited (GFAI). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: GFAI income statement, GFAI balance sheet, GFAI key metrics, GFAI analyst forecast, GFAI chart. See the GFAI stock overview for the latest quote and news.
GFAI AI stock analysis FAQ
What does Guardforce AI Co., Limited do?
Guardforce AI provides comprehensive cash solutions and cash handling services primarily in Thailand, including cash-in-transit, ATM management, cash center operations, and cash deposit machine solutions.
What is Guardforce AI's financial position?
As of June 30, 2026, Guardforce AI held $21.3M in cash and short-term investments and $4.0M in total debt, yielding net cash of $17.3M and a current ratio of 5.23.
Is Guardforce AI profitable?
No, Guardforce AI is not currently profitable. It recorded a net loss of -$6.7M in FY2025, an operating margin of -16.9% over the trailing twelve months, and an EPS of -$0.23 TTM.
What are analysts forecasting for GFAI stock?
The 1 analyst following the stock has a mean price target of $4.50 and forecasts revenue of $39.4M and EPS of $0.12 for the next fiscal year.