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Aquirian Limited
(Sydney:AQN)
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Rating:49Neutral
Price Target:
AU$0.47
▲(12.62% Upside)
Action:Reiterated
Date:03/24/26
The score is held back primarily by weak financial performance: significant margin deterioration, ongoing losses, higher leverage, and a return to negative free cash flow. Technicals are mixed with modest longer-term support but near-term resistance, while valuation appears moderate based on the provided P/E.
Positive Factors
Top-line growth
Sustained revenue growth to A$26m in FY2025 demonstrates persistent market demand and customer activity across the group's services. Over 2-6 months this provides a structural runway to rebuild margins if cost or mix improvements are implemented, and supports scale benefits.
Negative Factors
Severe margin deterioration
A dramatic gross-margin collapse and shift to operating losses signals structural profitability issues—likely pricing, cost inflation, or mix deterioration. Without durable margin recovery, revenue growth will not translate into sustainable profits or returns, constraining long-term value creation.
Read all positive and negative factors
Positive Factors
Negative Factors
Top-line growth
Sustained revenue growth to A$26m in FY2025 demonstrates persistent market demand and customer activity across the group's services. Over 2-6 months this provides a structural runway to rebuild margins if cost or mix improvements are implemented, and supports scale benefits.
Read all positive factors
Aquirian Limited (AQN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$50.33M
Dividend YieldN/A
Average Volume (3M)216.44K
Price to Earnings (P/E)―
Beta (1Y)1.05
Revenue Growth20.52%
EPS Growth-66.46%
CountryAU
Employees3
SectorIndustrials
Sector Strength72
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)-0.03
Shares Outstanding125,828,420
10 Day Avg. Volume373,882
30 Day Avg. Volume216,440
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)2.27
Price to Sales (P/S)1.12
P/FCF Ratio-17.28
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.03
Revenue Forecast (FY)AU$55.10M
Aquirian Limited Business Overview & Revenue Model
Company Description
Aquirian Limited engages in manufacture and supply of energetics, development of technology and innovative products, provision of equipment, onsite field services, workforce and training solutions to the mining and resources industry in Australia....
How the Company Makes Money
Aquirian Limited generates revenue through its core business segments, which include equipment leasing through its TBS Mining Solutions division, the provision of skilled labor and recruitment services through its People Solutions division, and th...
Aquirian Limited Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
48
Neutral
Cash Flow
30
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 29.18M | 26.01M | 23.07M | 26.16M | 17.43M | 12.46M |
| Gross Profit | 4.56M | 4.50M | 13.10M | 15.62M | 9.97M | 2.03M |
| EBITDA | 392.75K | -914.70K | 2.06M | 3.59M | 2.75M | 1.74M |
| Net Income | -2.18M | -3.41M | -649.00K | 546.82K | 558.15K | 623.36K |
Balance Sheet | ||||||
| Total Assets | 34.39M | 34.54M | 33.38M | 25.72M | 22.97M | 8.40M |
| Cash, Cash Equivalents and Short-Term Investments | 6.77M | 6.85M | 4.73M | 3.32M | 7.99M | 1.69M |
| Total Debt | 15.28M | 15.10M | 16.07M | 9.30M | 7.07M | 1.74M |
| Total Liabilities | 18.30M | 21.75M | 22.12M | 13.73M | 11.92M | 5.98M |
| Stockholders Equity | 16.10M | 12.79M | 11.27M | 11.99M | 11.05M | 2.42M |
Cash Flow | ||||||
| Free Cash Flow | -2.82M | -1.68M | 3.06M | -4.98M | -1.33M | 465.41K |
| Operating Cash Flow | 386.52K | 1.16M | 6.79M | 793.75K | 2.10M | 1.25M |
| Investing Cash Flow | -2.55M | -2.46M | -2.27M | -5.65M | -6.07M | -1.19M |
| Financing Cash Flow | 5.14M | 3.41M | -3.12M | 184.28K | 10.28M | -156.35K |
Aquirian Limited Technical Analysis
Negative
0.42
Price Trends
0.42
Negative
0.42
Negative
0.42
Negative
Market Momentum
>-0.01
Positive
44.60
Neutral
50.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:AQN, the sentiment is Negative. The current price of 0.42 is above the 20-day moving average (MA) of 0.42, above the 50-day MA of 0.42, and above the 200-day MA of 0.42, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 44.60 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:AQN.
Aquirian Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | AU$1.01B | 14.14 | 10.55% | 10.58% | 8.13% | -9.10% | |
68 Neutral | AU$435.96M | 9.48 | 20.21% | 5.86% | -4.85% | 5.75% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
55 Neutral | AU$32.22M | -9.19 | -97.12% | ― | ― | 8.16% | |
49 Neutral | AU$50.33M | -18.77 | -15.10% | ― | 20.52% | -66.46% | |
43 Neutral | AU$251.21M | -20.59 | -24.44% | ― | 30.71% | -73.88% | |
40 Underperform | AU$14.80M | -2.67 | -26.25% | ― | -13.52% | 7.82% |
* Industrials Sector Average
AU:AQN
Aquirian Limited
0.40
0.08
25.00%
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Aquirian Limited Corporate Events
Aquirian Limits Potential Dilution as 1.66 Million Performance Rights Lapse
May 22, 2026
Aquirian Limited has notified the market of the lapse of 1,657,907 performance rights, which were conditional rights to securities that have ceased because the relevant conditions were not met or could no longer be satisfied. The cessation of thes...
Aquirian Plans Equity Placement of Up to 19.85 Million Shares
May 8, 2026
Aquirian Limited has lodged a notice with the ASX for a proposed placement of up to 19,850,000 ordinary fully paid shares, with an intended issue date of 18 May 2026. The securities will be quoted on the ASX in accordance with the relevant listing...
Aquirian Plans Modest Share Placement of 100,000 New Shares
May 8, 2026
Aquirian Limited has notified the Australian Securities Exchange of a proposed issue of up to 100,000 ordinary fully paid shares under a placement or similar type of capital raising. The new securities, to be quoted on ASX under code AQN, are sche...
Aquirian outlines equity raising and cautions investors on risks
May 8, 2026
Aquirian Limited has released an investor presentation outlining an equity raising initiative aimed at supporting its strategy of accelerating innovation and growth. The document emphasises that the material is informational only, not a prospectus...
Aquirian Raises $8m to Accelerate Drillforce Growth and Technology Rollout
May 8, 2026
Aquirian Limited has secured binding commitments for an $8 million equity placement, issuing nearly 20 million new shares at $0.40 each at a modest discount to its recent trading price. The raise was oversubscribed and backed by a mix of existing ...
Aquirian Requests ASX Trading Halt Ahead of Capital Raising Announcement
May 6, 2026
Aquirian Limited has requested and been granted a trading halt on its securities by the ASX, with the halt expected to remain in place until no later than the commencement of normal trading on 8 May 2026. The company said the pause is to allow it ...
Aquirian expands global reach and advances automated, biodegradable drill tech
May 3, 2026
Aquirian Limited has reported progress across its technology and products portfolio, emphasising the expanded international distribution of its patented Collar Keeper systems and related offerings. The company is targeting key mining jurisdictions...
Aquirian Appoints New CFO to Drive Growth and Technology Push
Apr 23, 2026
Aquirian Limited has appointed Susan Cameron as Chief Financial Officer, effective 23 April 2026, bringing more than 20 years of leadership experience in finance, operations, and corporate governance across the mining and industrial sectors. The c...
Aquirian’s Drillforce Wins $48m Lord Byron Drill-and-Blast Deal with Brightstar
Apr 15, 2026
Aquirian’s Drillforce unit has secured a three-year deal to supply all drilling and energetics services for Brightstar Resources’ Lord Byron open pit mine near Laverton, worth about $48 million in projected revenue from September 2026....
Aquirian Wins Strategic Drill-and-Blast Mandate at Brightstar’s Goldfields Hub
Apr 15, 2026
Brightstar Resources has entered into a strategic framework agreement with Aquirian Limited for the exclusive supply of drilling and energetics services to its Goldfields Hub open pit mining operations for an initial term of up to five years. Unde...
Aquirian Strengthens Governance with Appointment of New Company Secretary
Mar 24, 2026
Aquirian Limited, a technology-driven mining services provider, delivers drill and blast solutions through its core divisions and its Western Energetics subsidiary, which offers storage, logistics and energetic solutions to support mining operatio...
Aquirian outlines investment profile at institutional investor conference
Mar 17, 2026
Aquirian Limited has released a corporate presentation titled “Accelerating Innovation Growth” ahead of its appearance at the Euroz Hartleys Institutional Investor Conference on 18 March 2026. The document positions the company for po...
Aquirian boosts Drillforce capability as Topgroup JV shelved but support maintained
Mar 12, 2026
Aquirian has provided an operational update on its Drillforce WA business, a wholly owned subsidiary and a key pillar of its growth strategy focused on integrated, technology-driven drill and blast services. The company has secured two new drill r...
Aquirian CFO and Company Secretary to Depart After Five-Year Tenure
Mar 3, 2026
Aquirian Limited, an ASX-listed mining services provider, focuses on drill and blast solutions supported by its Energetics, Technology and People divisions, as well as the Western Energetics facility in Western Australia. The company aims to enhan...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.