Boss Energy Limited (AU:BOE)
ASX:BOE
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Boss Energy
(Sydney:BOE)
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Rating:63Neutral
Price Target:
AU$1.50
▼(-12.28% Downside)
Action:Reiterated
Date:04/16/26
The score is primarily supported by a strong balance sheet and improving cash generation, plus a generally positive earnings call with reconfirmed production guidance and lower cost outlook. These positives are tempered by ongoing net losses, weak/neutral technical setup with the stock below key moving averages, and limited valuation support due to negative earnings.
Positive Factors
Strong Balance Sheet
Extremely low leverage and a sizable equity base give Boss durable financial flexibility to fund the Honeymoon feasibility work, cover commissioning delays and absorb commodity volatility. This balance-sheet strength reduces refinancing risk and supports disciplined capex over the next 2–6 months.
Negative Factors
Persistent Net Losses
Despite revenue and gross margin gains, sizeable net losses and negative ROE signal returns have not yet materialized. Continued losses constrain retained earnings, limit reinvestment capacity and keep reliance on equity or asset sales as potential long‑term financing sources if cash generation weakens.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Balance Sheet
Extremely low leverage and a sizable equity base give Boss durable financial flexibility to fund the Honeymoon feasibility work, cover commissioning delays and absorb commodity volatility. This balance-sheet strength reduces refinancing risk and supports disciplined capex over the next 2–6 months.
Read all positive factors
Boss Energy (BOE) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$548.03M
Dividend YieldN/A
Average Volume (3M)9.37M
Price to Earnings (P/E)―
Beta (1Y)2.35
Revenue Growth129.36%
EPS Growth-43.38%
CountryAU
Employees139
SectorEnergy
Sector Strength52
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.08
Shares Outstanding415,123,870
10 Day Avg. Volume15,044,177
30 Day Avg. Volume9,371,167
Financial Highlights & Ratios
PEG Ratio0.33
Price to Book (P/B)3.97
Price to Sales (P/S)25.40
P/FCF Ratio176.22
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$1.75Price Target Upside2.11% Upside
Rating ConsensusHold
Number of Analyst Covering10
EPS Forecast (FY)0.05
Revenue Forecast (FY)AU$177.68M
Boss Energy Business Overview & Revenue Model
Company Description
Boss Energy Limited explores for, develops, and produces uranium deposits in Australia. It holds a 100% interest in the Honeymoon uranium project covering an area of approximately 2,595 square kilometers located in South Australia. The company was...
How the Company Makes Money
Boss Energy primarily makes money by producing and selling uranium concentrate (U3O8) to utilities and other nuclear-fuel market participants under uranium sales contracts. Revenue is generated when contracted or spot-market deliveries of U3O8 are...
Boss Energy Earnings Call Summary
Earnings Call Date:Feb 25, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Sep 30, 2026
Earnings Call Sentiment Positive
The call highlights strong operational performance (record quarterly production, meaningful QoQ cost reductions, solid balance sheet and inventory build) and clear strategic action via the Honeymoon Review and a new feasibility study. Near-term execution risks and commercial constraints include a softer Q3 production profile, a legacy contract that reduces realized price for part of FY'26 (c.15% of production), delays in some commissioning activities, commencement of royalty payments, and the need to validate the new wide-spacing wellfield design. On balance the positive operational, cost and financial metrics and the deliberate capital discipline around the feasibility study outweigh the short-term challenges and uncertainties.Positive Updates
Record Quarterly Production
Delivered record drummed production of 456,000 pounds of uranium (up 18% quarter-on-quarter). IX production was 406,000 pounds (up 8% QoQ). Company reconfirmed FY'26 production guidance of 1.6 million pounds.
Negative Updates
Near-Term Production Softness and Sequencing Risk
Management expects a softer production quarter (Q3) due to phasing of wellfields and expected decline in average tenor, with a planned major shutdown for tie-ins and power upgrades impacting near-term output. Production increases are expected in Q4 as B5 and B6 come online.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Quarterly Production
Delivered record drummed production of 456,000 pounds of uranium (up 18% quarter-on-quarter). IX production was 406,000 pounds (up 8% QoQ). Company reconfirmed FY'26 production guidance of 1.6 million pounds.
Read all positive updates
Company Guidance
Management reconfirmed FY'26 production guidance of 1.6 million pounds of drummed uranium while lowering cost guidance to a C1 cash cost of $36–40/lb (previously $41–45) and an all‑in sustaining cost of $60–64/lb (previously $64–70); project & supporting infrastructure capital guidance was increased to $30–33 million (up $3m) after $11m was spent this quarter (including $4.5m on NIMCIX columns and $6.5m on East Kalkaroo infrastructure — ~$4m trunkline/monitoring/power, $2m delineation drilling). Management expects a softer Q3 before a Q4 lift, will deliver a revised feasibility study in Q3, and will begin legacy contract deliveries in Q3/Q4 (125k lb deliveries each quarter, up to 250k lb/year, ~15% of FY'26, priced ~65–70% of spot). The company finished the quarter with $53m cash, $208m cash & liquid assets, drummed inventory of 1.62 million pounds, and sales this quarter of 350k lb at ~USD 74 (AUD 112)/lb.Boss Energy Financial Statement Overview
Summary
Income Statement
43
Neutral
Balance Sheet
86
Very Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 109.62M | 75.60M | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -14.91M | 38.69M | -386.00K | -78.00K | -40.87K | -68.08K |
| EBITDA | 19.39M | -11.03M | -14.20M | 12.55M | 31.14M | -3.76M |
| Net Income | -32.59M | -34.17M | 44.59M | 12.55M | 31.19M | 864.75K |
Balance Sheet | ||||||
| Total Assets | 527.41M | 528.22M | 571.91M | 267.74M | 248.18M | 94.93M |
| Cash, Cash Equivalents and Short-Term Investments | 52.86M | 47.75M | 67.28M | 89.05M | 132.74M | 20.89M |
| Total Debt | 410.00K | 490.00K | 648.00K | 95.00K | 141.38K | 0.00 |
| Total Liabilities | 54.15M | 44.54M | 61.61M | 16.98M | 11.61M | 9.47M |
| Stockholders Equity | 473.26M | 483.68M | 510.30M | 250.76M | 236.57M | 85.46M |
Cash Flow | ||||||
| Free Cash Flow | 23.54M | 10.90M | -102.08M | -43.49M | -7.37M | -4.82M |
| Operating Cash Flow | 36.09M | 17.38M | -11.67M | -3.54M | -4.35M | -3.24M |
| Investing Cash Flow | -42.98M | -48.29M | -223.44M | -40.64M | -2.75M | -51.33M |
| Financing Cash Flow | -153.00K | -158.00K | 211.64M | -42.00K | 118.86M | 71.61M |
Boss Energy Technical Analysis
Positive
1.71
Price Trends
1.62
Positive
1.62
Positive
1.90
Negative
Market Momentum
0.01
Negative
55.06
Neutral
58.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BOE, the sentiment is Positive. The current price of 1.71 is above the 20-day moving average (MA) of 1.58, above the 50-day MA of 1.62, and below the 200-day MA of 1.90, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 55.06 is Neutral, neither overbought nor oversold. The STOCH value of 58.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:BOE.
Boss Energy Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
63 Neutral | AU$548.03M | -19.26 | -6.81% | ― | 129.36% | -43.38% | |
49 Neutral | AU$68.56M | -3.18 | -49.13% | ― | ― | -25.52% | |
48 Neutral | AU$177.48M | -5.58 | -12.55% | ― | ― | -133.33% | |
47 Neutral | AU$184.42M | -3.97 | -12.76% | ― | ― | 17.61% |
* Energy Sector Average
AU:BOE
Boss Energy
1.32
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Boss Energy Corporate Events
Boss Energy Targets Investors With Macquarie Conference Presentation
May 5, 2026
Boss Energy announced that Managing Director and CEO Matthew Dusci will present the company’s latest corporate update at the 2026 Macquarie Australia Conference in Sydney. The company will also hold meetings with institutional investors at t...
Boss Energy Output Hit by Weather as Uranium Growth Pipeline Accelerates
Apr 29, 2026
Boss Energy reported a sharp fall in quarterly uranium output at its Honeymoon and Alta Mesa operations due to rain-related disruptions, with Honeymoon drummed production down 56% and Alta Mesa down 32%. The lower volumes pushed C1 cash costs and ...
Boss Energy Cuts FY26 Uranium Guidance but Pushes Ahead With Honeymoon Expansion
Apr 29, 2026
Boss Energy reported a challenging March quarter at its Honeymoon uranium operation, with production falling to 203,000 pounds of U3O8 and unit costs rising due to heavy rainfall, restricted site access and delays in commissioning key infrastructu...
UBS Group Ceases to Be Substantial Shareholder in Boss Energy
Apr 23, 2026
UBS Group AG and its related entities have notified Boss Energy that they have ceased to be a substantial shareholder in the company as of 21 April 2026. The change reflects a reduction in UBS’s voting power below the substantial holding thr...
Boss Energy Cuts Honeymoon FY26 Uranium Output Guidance After Weather Disruptions
Apr 14, 2026
Boss Energy has cut its FY26 production guidance for the Honeymoon uranium operation to 1.40–1.45 million pounds of U3O8 drummed, down from 1.6 million pounds, after heavy and unexpected rainfall further damaged already degraded access roads...
Boss Energy Showcases New Feasibility Study Progress at Investor Conferences
Mar 22, 2026
Boss Energy has released an investor presentation to be delivered by Managing Director and CEO Matthew Dusci at two key industry events in Sydney, the UBS Mid Emerging Resources Day and the Shaw Partners Uranium Conference. The presentation prov...
Boss Energy boosts uranium resources at Gould’s Dam and Jason’s Deposit
Mar 18, 2026
Boss Energy has reported updated mineral resource estimates for its Gould’s Dam and Jason’s Deposit satellite uranium deposits near the producing Honeymoon Operation in South Australia, confirming a combined 45.1Mlbs of contained U3O8....
Boss Energy Keeps FY26 Uranium Guidance Despite Rain-Hit Output
Mar 4, 2026
Boss Energy said heavy rainfall has disrupted operations at its Honeymoon Uranium Operation in South Australia, restricting site access and limiting deliveries of reagents and other essential inputs for production. The company expects reagent deli...
Boss Energy lifts uranium output and cash flow but books inventory-driven loss
Feb 26, 2026
Boss Energy reported a strong operational performance for the half-year to 31 December 2025, with revenue up 71% to $81.8 million as uranium production jumped to 842,000 lbs and sales rose to 750,000 lbs. The company delivered positive operating c...
Boss Energy lifts revenue 71% but remains in loss as asset backing eases
Feb 26, 2026
Boss Energy reported a strong rise in revenue for the half-year ended 31 December 2025, with ordinary activities revenue up 71% to $81.8 million compared with the prior corresponding period. Despite the top-line growth, the company remained loss-m...
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.