Aquirian Limited (AQN) AI Stock Analysis

• Market Cap: AU$36.26M
• Dividend Yield: N/A
• Average Volume (3M): 143.75K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.35
• Revenue Growth: 12.74%
• EPS Growth: -392.59%
• Country: AU
• Employees: N/A
• Sector: Industrials
• Sector Strength: 72
• Industry: Rental & Leasing Services
• EPS (TTM): -0.04
• Shares Outstanding: 100,734,740
• 10 Day Avg. Volume: 214,087
• 30 Day Avg. Volume: 143,754
• 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 Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: AU$0.50
• Price Target Upside: 35.14% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 52 Neutral
• Price Target: AU$0.50 ▲(35.14% Upside)

Aquirian Limited's overall stock score is primarily impacted by financial challenges, including negative profitability and cash flow metrics, and high leverage. Technical analysis provides some positive momentum, but valuation concerns due to a negative P/E ratio and lack of dividend yield weigh down the score.

Aquirian Limited Business Overview & Revenue Model

Company Description

Aquirian Limited provides equipment, workforce, technology products, and training solutions to the mining and resources industry in Australia, New Zealand, and internationally. It develops and distributes the Collar Keeper system to clients in the drill and blast industry; offers equipment for lease in the resources industry; and supplies storage solutions for energetic materials and dangerous goods to mining, defense, and law enforcement customers, as well as distributes DA500 drill assist blocks. The company also offers workforce solutions, such as permanent placements, casual workforce, and contract personnel for various functional resourcing requirements; and full and refresher, surface and underground, and shotfiring training courses through face-to-face or online through interactive video conferences. In addition, it provides on-site labour support, field, and mechanical and repair services. Aquirian Limited was incorporated in 2017 and is based in Perth, Australia.

How the Company Makes Money

Aquirian Limited generates revenue through multiple streams. The primary sources of income include leasing specialized equipment to mining companies, sales of its proprietary blasting products, and the provision of technology solutions that optimize mining operations. The company collaborates with mining firms to deploy its equipment and technology, driving consistent demand for its offerings. Additionally, strategic partnerships with key players in the mining industry further bolster its revenue by expanding its market reach and enhancing its service capabilities.

Aquirian Limited Financial Statement Overview

Summary

Aquirian Limited faces several financial challenges. Despite revenue growth, profitability and cash flow metrics are under pressure, with negative margins and declining free cash flow. High leverage adds financial risk, although the equity ratio provides some stability.

Income Statement

Aquirian Limited's income statement shows a mixed performance. The company experienced a revenue growth of 7.39% in the latest year, indicating a positive trend. However, the gross profit margin has significantly decreased from 56.80% to 17.32%, and the net profit margin is negative at -13.12%, reflecting challenges in maintaining profitability. The negative EBIT and EBITDA margins further highlight operational inefficiencies.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio of 1.18, indicating significant leverage, which could pose financial risks. The return on equity is negative at -26.67%, suggesting that the company is not generating sufficient returns on shareholders' equity. However, the equity ratio stands at 37.05%, providing some stability in terms of asset financing.

Cash Flow

Cash flow analysis shows a concerning trend with a free cash flow growth rate of -198.36%, indicating a substantial decline in free cash flow. The operating cash flow to net income ratio is low at 0.14, suggesting limited cash generation relative to net income. Additionally, the free cash flow to net income ratio is negative, reflecting cash flow challenges.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	26.01M	26.01M	23.07M	26.16M	17.43M	12.46M
Gross Profit	4.50M	4.50M	13.10M	15.62M	9.97M	2.03M
EBITDA	-914.70K	-914.70K	2.06M	3.59M	2.75M	1.74M
Net Income	-3.41M	-3.41M	-649.00K	546.82K	558.15K	623.36K
Balance Sheet
Total Assets	34.54M	34.54M	33.38M	25.72M	22.97M	8.40M
Cash, Cash Equivalents and Short-Term Investments	6.85M	6.85M	4.73M	3.32M	7.99M	1.69M
Total Debt	15.10M	15.10M	16.07M	9.30M	7.07M	3.21M
Total Liabilities	21.75M	21.75M	22.12M	13.73M	11.92M	5.98M
Stockholders Equity	12.79M	12.79M	11.27M	11.99M	11.05M	2.42M
Cash Flow
Free Cash Flow	-1.68M	-1.68M	3.06M	-4.98M	-1.33M	465.41K
Operating Cash Flow	1.16M	1.16M	6.79M	793.75K	2.10M	1.25M
Investing Cash Flow	-2.46M	-2.46M	-2.27M	-5.65M	-6.07M	-1.19M
Financing Cash Flow	3.41M	3.41M	-3.12M	184.28K	10.28M	-156.35K

Aquirian Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.37
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:AQN, the sentiment is Positive. The current price of 0.37 is above the 20-day moving average (MA) of 0.34, above the 50-day MA of 0.34, and above the 200-day MA of 0.30, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 61.71 is Neutral, neither overbought nor oversold. The STOCH value of 63.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:AQN.

Aquirian Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VBC	69 Neutral	€32.14M	8.53	17.38%	0.95%	-8.28%	89.71%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
BPP	61 Neutral	€16.88M	33.33	6.09%	―	-23.90%	50.00%
SSH	57 Neutral	AU$13.35M	19.38	6.19%	―	-6.52%	-20.79%
BWE	54 Neutral	AU$40.09M	―	-35.80%	―	-32.52%	-300.55%
AQN	52 Neutral	AU$36.26M	―	-28.36%	―	12.74%	-392.59%
DEM	46 Neutral	AU$29.05M	―	-16.00%	―	11.53%	46.15%

Aquirian Limited Corporate Events

Aquirian Limited Announces Expiration of Director’s Options

Aquirian Limited announced a change in the director’s interest, specifically concerning Mr. Bruce McFadzean. The change involved the expiration of 275,000 unlisted options, leaving Mr. McFadzean with 150,000 direct ordinary shares and 867,268 indirect ordinary shares. This update reflects a routine adjustment in the director’s securities holdings, with no immediate financial impact as the options expired without value.

Aquirian Limited Announces Cessation of Securities

Aquirian Limited has announced the cessation of 1,250,000 securities due to the lapse of conditional rights, as the conditions were not met or became incapable of being satisfied. This cessation may impact the company’s capital structure and could influence investor perceptions regarding the company’s ability to meet certain conditions, potentially affecting its market positioning.

Aquirian Limited Announces Leadership Transition

Aquirian Limited has announced that David Kelly will transition from Executive Director of Operations to a Non-Executive Director role, effective July 1, 2025. Despite stepping back from daily operations, Kelly will continue to provide strategic oversight, particularly for Western Energetics, a subsidiary focused on emulsion manufacturing and field operations. His shift reflects a continued alignment with shareholder interests and commitment to the company’s growth. The transition is seen as a strategic move to leverage Kelly’s expertise in supporting the company’s expansion and operational efficiency, especially in the energetics field services.

Aquirian Limited Advances with Strategic Upgrades and Innovations

Aquirian Limited announced a $5.0 million share placement to fund upgrades at its Wubin emulsion facility and accelerate technology commercialization. The company secured a 12-month tolling agreement expected to generate $1.5 million in revenue and is actively pursuing additional opportunities. The manual Collar Keeper® System is now compatible with more drilling platforms, and the automated version is nearing production trials. These advancements are expected to enhance operational safety and cost-effectiveness, reinforcing Aquirian’s leadership in the industry.

Aquirian Limited Highlights Innovation and Growth at Industry Forum

Aquirian Limited presented at the Euroz Hartleys Industrial & Resources Forum, emphasizing its commitment to accelerating innovation and growth. The presentation, while providing a general overview of the company, is not intended as investment advice or an offer of securities. It highlights the inherent risks in securities and advises potential investors to seek professional advice before making investment decisions. The release also notes that forward-looking statements are subject to uncertainties and should not be heavily relied upon.

Aquirian Limited Issues Unquoted Equity Securities

Aquirian Limited has announced the issuance of unquoted equity securities in the form of unlisted options. The company is issuing 500,000 unlisted options at $0.35 each, expiring on February 27, 2027, and another 500,000 unlisted options at $0.45 each, expiring on February 27, 2028. This move may impact the company’s financial strategy and provide potential benefits to stakeholders by offering new investment opportunities.

Aquirian Limited Announces Change in Director’s Shareholding

Aquirian Limited has announced a change in the director’s interest notice, specifically concerning David Kelly. The change involves the acquisition of 76,923 ordinary shares through a share placement approved by shareholders, increasing Kelly’s indirect holdings to 1,060,474 shares. This move reflects a strategic adjustment in the company’s leadership interests, potentially impacting stakeholder perceptions and the company’s market positioning.

Aquirian Limited Announces Director’s Interest Change

Aquirian Limited has announced a change in the director’s interest, specifically regarding Gregory Patching’s holdings. The update involves the acquisition of 76,923 ordinary shares valued at $19,999.98, which were issued through a share placement approved by shareholders. This change reflects a strategic move to adjust the director’s stake in the company, potentially impacting the company’s governance and shareholder dynamics.

Aquirian Limited Director Increases Stake Through Share Placement

Aquirian Limited announced a change in the director’s interest, with Mr. Adrian Mason acquiring 500,000 ordinary shares and 1,000,000 options through a shareholder-approved share placement. This change reflects a significant increase in Mr. Mason’s stake in the company, potentially indicating confidence in the company’s future prospects and aligning the director’s interests with those of the shareholders.

Aquirian Limited Director Increases Stake

Aquirian Limited announced a change in the director’s interest, specifically for Mr. Bruce McFadzean, who increased his indirect holdings in the company by acquiring 76,923 ordinary shares through a share placement. This change, approved by shareholders at a General Meeting, reflects a strategic move to enhance Mr. McFadzean’s stake in the company, potentially signaling confidence in the company’s future prospects and aligning his interests more closely with those of other shareholders.

Aquirian Limited Director Acquires New Shares

Aquirian Limited announced a change in the director’s interest, with Ms. Alexandra Atkins acquiring 38,462 ordinary shares through a share placement approved by shareholders. This acquisition reflects a strategic move by the company to align its leadership interests with shareholder interests, potentially impacting its market positioning and stakeholder confidence.

Aquirian Limited Announces Quotation of New Securities on ASX

Aquirian Limited announced the quotation of 769,231 ordinary fully paid securities on the Australian Securities Exchange (ASX) as of June 6, 2025. This move is part of a previously announced transaction, indicating a strategic step in the company’s financial operations. The issuance of these securities could potentially enhance Aquirian Limited’s market presence and provide additional capital for its business activities, impacting its stakeholders positively.