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BPH Energy Limited (AU:BPH)
ASX:BPH
Australian Market

BPH Energy Limited (BPH) AI Stock Analysis

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AU:BPH

BPH Energy Limited

(Sydney:BPH)

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Neutral 56 (OpenAI - 5.2)
Rating:56Neutral
Price Target:
AU$0.01
â–˛(0.00% Upside)
Action:ReiteratedDate:02/10/26
The score is primarily held back by weak operating fundamentals and persistent negative operating/free cash flow, despite a strong low-leverage balance sheet. Technical indicators are mostly neutral-to-weak (negative MACD), while the low P/E provides some offset from a valuation perspective.
Positive Factors
Conservative Balance Sheet (Low Leverage)
Very low debt-to-equity (~0.2% FY2025) materially reduces solvency risk and preserves financial optionality. Over 2–6 months this durability supports funding flexibility for project stakes or partnerships, lowers refinancing pressure, and cushions the firm versus cyclical resource markets.
Strengthened Capital Base
Meaningful equity expansion since FY2023 provides a larger capital base to absorb exploration/project risk and fund near-term investments or disposals. A stronger equity position supports strategic optionality, enabling pursuit of project monetisations without immediate debt reliance.
Flexible, Asset-Monetisation Business Model
A business model centered on holding and monetising early-stage project interests creates structural optionality: management can realise value via divestments or joint-venture exits rather than relying on fixed-asset operations. This flexibility can preserve cash burn if executed prudently.
Negative Factors
Persistent Negative Cash Generation
Sustained negative operating and free cash flow signals an ongoing cash burn that undermines self-funding ability. Over months this forces dependence on asset sales, equity raises, or external financing to sustain activities and fund project development, increasing execution and dilution risk.
Operating Losses Despite Reported Net Profit
Negative operating profit across multiple years indicates core activities do not generate sustainable earnings; recent net profits are driven by non-operating items. This weakens earnings durability: if one-off gains reverse, the company lacks reliable operating income to support long-term cash needs.
Small, Volatile Revenue Base
A small, volatile revenue base reduces predictability of project monetisations and operational planning. Declining revenue (FY2025 down ~19%) heightens the chance that intermittent gains won’t offset cash shortfalls, complicating budgeting and increasing the likelihood of funding-driven strategic detours.

BPH Energy Limited (BPH) vs. iShares MSCI Australia ETF (EWA)

BPH Energy Limited Business Overview & Revenue Model

Company DescriptionBPH Energy Limited invests in biotechnology, oil and gas exploration and development, and medicinal cannabis industries in Australia. The company is building a system to generate clean hydrogen and conductive carbon used to manufacture batteries for commercial use. It also offers brain anaesthesia response monitoring system, a device to detect the effect of anaesthetic agents on brain activity and assist anaesthetists in keeping patients optimally anaesthetised. In addition, the company invests in the biomedical research of HLS5 tumour suppressor gene for liver cancer. Further, it holds a 100% interest in RL1 oil and gas assets located in the onshore Bonaparte basin in northern Australia; and 85% interest in the petroleum exploration permit 11 asset situated in the offshore Sydney basin. The company was formerly known as BioPharmica Limited. BPH Energy Limited was incorporated in 2001 and is headquartered in Stirling, Australia.
How the Company Makes MoneyBPH Energy Limited generates revenue through its involvement in the exploration and production of oil and gas resources. The company invests in and develops energy projects, which provide income through the sale of extracted resources. Additionally, BPH holds investments in biotechnology and medical technology companies, earning returns from the growth and success of these ventures. Revenue streams are further enhanced by strategic partnerships and collaborations within the energy and healthcare industries, which can lead to shared projects and increased market reach.

BPH Energy Limited Financial Statement Overview

Summary
Mixed financial quality: a very low-debt balance sheet supports solvency, but core operating performance is weak (negative operating profit across FY2021–FY2025) and cash generation is consistently negative, raising earnings quality and sustainability concerns despite strong reported net margins.
Income Statement
58
Neutral
Revenue is small and volatile, with FY2025 down ~19% year over year after modest growth in prior years. Reported profitability looks strong recently (FY2025 net margin ~811% and FY2024 ~540%), but operating performance remains weak with negative operating profit in FY2021–FY2025 (FY2025 operating margin about -100%), suggesting earnings are being driven by non-operating items rather than core operations. There was a profitable operating year in FY2020, but consistency since then has been lacking.
Balance Sheet
86
Very Positive
The balance sheet is conservatively financed with very low debt relative to equity (debt-to-equity ~0.2% in FY2025), which materially reduces solvency risk. Equity has also expanded meaningfully since FY2023, supporting a stronger capital base. Return on equity is solid in the last two years (mid-teens), but this should be viewed alongside the weak operating results, which raise questions about the durability of returns.
Cash Flow
22
Negative
Cash generation is a key weakness: operating cash flow and free cash flow are consistently negative across the period shown (including FY2025 at roughly -$0.74M). Cash flow has not tracked reported profits, indicating earnings quality risk and reliance on funding/asset movements rather than cash earnings. While the cash burn improved versus FY2024, it remains meaningfully negative.
BreakdownJun 2025Jun 2024Jun 2023Jun 2022Jun 2021
Income Statement
Total Revenue836.64K843.68K304.05K68.14K65.50K
Gross Profit836.64K843.68K304.05K-60.50K65.50K
EBITDA0.000.001.05M-672.98K-1.50M
Net Income6.79M4.56M853.43K-1.08M-1.61M
Balance Sheet
Total Assets39.18M30.29M20.40M15.21M16.51M
Cash, Cash Equivalents and Short-Term Investments4.20M6.45M5.64M2.92M10.20M
Total Debt84.82K84.82K88.27K104.82K104.82K
Total Liabilities697.22K984.82K984.88K908.75K1.14M
Stockholders Equity38.65M29.46M19.57M14.46M15.54M
Cash Flow
Free Cash Flow-736.93K-941.51K-1.05M-1.02M-703.81K
Operating Cash Flow-736.93K-941.51K-1.05M-1.02M-703.81K
Investing Cash Flow-3.12M-3.05M-217.50K-6.26M-791.22K
Financing Cash Flow1.50M4.80M3.99M1.44K11.41M

BPH Energy Limited Technical Analysis

Technical Analysis Sentiment
Negative
Last Price0.01
Price Trends
50DMA
0.01
Negative
100DMA
200DMA
Market Momentum
MACD
>-0.01
Negative
RSI
48.15
Neutral
STOCH
25.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BPH, the sentiment is Negative. The current price of 0.01 is below the 20-day moving average (MA) of 0.01, below the 50-day MA of 0.01, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 48.15 is Neutral, neither overbought nor oversold. The STOCH value of 25.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:BPH.

BPH Energy Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (68)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
68
Neutral
$18.00B11.429.92%3.81%9.73%1.22%
64
Neutral
AU$22.32M9.0313.13%―101.80%355.88%
63
Neutral
AU$1.52M2.1127.06%―387.73%-57.17%
56
Neutral
AU$10.83M-10.0019.93%――29.55%
54
Neutral
AU$10.87M93.461.82%3.50%-50.00%-52.07%
45
Neutral
AU$22.19M-8.36-55.22%―66.69%5.17%
43
Neutral
AU$9.72M―――――
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:BPH
BPH Energy Limited
0.01
0.00
0.00%
AU:QUE
Queste Communications Ltd
0.06
0.01
27.27%
AU:IPC
Imperial Pacific Limited
2.00
0.42
26.58%
AU:PVL
Powerhouse Ventures Ltd.
0.14
0.04
40.00%
AU:SOR
Strategic Elements Ltd
0.05
<0.01
9.52%
AU:KBC
Keybridge Capital Limited
0.05
0.00
0.00%

BPH Energy Limited Corporate Events

BPH Energy Awaits Federal Court Ruling on PEP 11 Permit Dispute
Feb 23, 2026

BPH Energy and its partner Bounty Oil & Gas have provided an update on their legal challenge to the refusal of extension and variation applications for the offshore PEP 11 exploration permit. The case reflects the companies’ efforts to preserve their exploration rights in a contested regulatory environment that is important to their upstream portfolio.

The Federal Court hearing in Sydney before Justice Jackson concluded over two days, 20 and 23 February 2026, with affidavits, agreed document bundles, and written and oral submissions presented by both sides. A judgment has been reserved to a future date, leaving the status of the PEP 11 permit unresolved and maintaining regulatory uncertainty for the joint venture and its stakeholders.

The most recent analyst rating on (AU:BPH) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on BPH Energy Limited stock, see the AU:BPH Stock Forecast page.

BPH Energy Issues 58 Million Performance Rights Tied to PEP11 Permit Decision
Feb 11, 2026

BPH Energy Ltd has notified the market of the issue of 58 million unquoted performance rights, to be created as a new class of securities. These rights are structured so that they will vest upon approval by the Joint Authority of an extension application for the PEP11 exploration permit.

The issuance links a substantial equity incentive to a key regulatory milestone for the company’s offshore project, underscoring the strategic importance of the PEP11 permit to BPH’s portfolio. The move aligns management and stakeholder interests with the outcome of the permit extension process, while potentially increasing future dilution if the performance condition is met.

The most recent analyst rating on (AU:BPH) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on BPH Energy Limited stock, see the AU:BPH Stock Forecast page.

BPH Energy Extends Options Offer to Fund Energy Market Initiatives
Feb 2, 2026

BPH Energy Limited has reminded eligible shareholders that its options placement offer, first launched in December 2025 and supplemented in January 2026, has been extended and is now scheduled to close on 3 February 2026. The offer allows participants to acquire new options at $0.001 each, exercisable at $0.03 within 12 months of issue, with shareholders able to take up their full entitlement and apply for additional shortfall options at the board’s discretion. Company directors David Breeze and Tony Huston have already subscribed for their full allotments, signalling board support for the capital raising, which could generate up to approximately $611,612 before costs to fund general working capital and underpin BPH’s strategic initiatives in the energy market, with the company planning to seek quotation of the new options on the ASX.

The most recent analyst rating on (AU:BPH) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on BPH Energy Limited stock, see the AU:BPH Stock Forecast page.

BPH Energy Advances Option Restructuring as Investee Projects in Offshore Energy and Medtech Progress
Jan 28, 2026

BPH Energy Limited’s December 2025 quarter report outlines several capital management moves, including issuing shares to settle advertising fees, the expiry of more than 622 million unexercised options, the launch of a replacement series of options for existing holders and directors to maintain participation in the company’s development, and the exercise and new issuance of a smaller parcel of director options. Operationally, the company’s key investee Advent Energy continues to contest the refusal of applications related to the PEP-11 offshore petroleum permit, with a Federal Court judicial review now scheduled for February 2026 while the permit remains in force and in compliance, a process that could shape the future of its offshore exploration interests. Another investee, Cortical Dynamics, advanced its next-generation AI-enhanced BARM 2.0 brain and pain monitoring system towards technical completion, planned clinical trials in the USA and Netherlands, and showcased the technology at major regulatory and industry forums in Sydney and Canberra, while continuing development of its CORDYAN AI predictive medical app platform, reinforcing BPH’s exposure to emerging medtech innovation alongside its energy investments.

The most recent analyst rating on (AU:BPH) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on BPH Energy Limited stock, see the AU:BPH Stock Forecast page.

BPH Energy Issues 134 Million New Shares Under Placement, Confirms Regulatory Compliance
Jan 21, 2026

BPH Energy Limited has issued 134,222,222 fully paid ordinary shares as part of a previously announced capital placement, conducted without a prospectus under the disclosure exemptions of the Corporations Act. The company confirmed it is up to date with its financial reporting and continuous disclosure obligations and stated there is no excluded information requiring disclosure, signalling regulatory compliance around the new share issue and providing assurance to investors regarding the transparency of the placement.

The most recent analyst rating on (AU:BPH) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on BPH Energy Limited stock, see the AU:BPH Stock Forecast page.

BPH Energy Seeks ASX Quotation for 134 Million New Shares
Jan 20, 2026

BPH Energy Ltd has applied to the ASX for quotation of 134,222,222 new fully paid ordinary shares, expanding its listed securities on the market. The issuance, tied to a previously announced transaction, will increase the company’s tradable share base and may affect its capital structure and liquidity profile for existing and prospective shareholders.

The most recent analyst rating on (AU:BPH) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on BPH Energy Limited stock, see the AU:BPH Stock Forecast page.

BPH Energy Updates Prospectus After $1.2m Placement and New Option Offers
Jan 14, 2026

BPH Energy has issued a supplementary prospectus updating its December 2025 capital-raising documentation to reflect a January placement to sophisticated investors, under which the company will issue 134,222,222 new shares at $0.009 each to raise about $1.208 million, along with one free attaching option per share exercisable at $0.03. The update also formalises additional option offers to placement participants and joint lead managers Oakley Capital Partners and 62 Capital, adjusts the offer timetable and key capital statistics, and is structured to remove trading restrictions on shares issued from the new options, potentially improving liquidity and flexibility for investors as the company progresses its funding plans.

The most recent analyst rating on (AU:BPH) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on BPH Energy Limited stock, see the AU:BPH Stock Forecast page.

BPH Energy Plans Placement of 33.6 Million Options at $0.03
Jan 12, 2026

BPH Energy Ltd has announced a proposed issue of up to 33,555,555 new options, each with an exercise price of $0.03 and expiring on the same date as those offered under its 2 December 2025 options prospectus, with the issue expected to take place on 14 January 2026. The placement, if completed, will expand the company’s securities on issue and provide an additional potential source of future capital upon option exercise, signalling an effort to bolster its funding flexibility and support ongoing corporate and project activities.

The most recent analyst rating on (AU:BPH) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on BPH Energy Limited stock, see the AU:BPH Stock Forecast page.

BPH Energy Plans Major Share and Option Issue to Bolster Capital Base
Jan 12, 2026

BPH Energy Ltd has lodged details of a proposed capital raising with the ASX, outlining a placement or similar issue of up to 134,222,222 new ordinary fully paid shares and 134,222,222 options with an exercise price of $0.03, expiring on the same date as options covered by a December 2025 prospectus. The proposed securities are scheduled for issue on 14 January 2026, a move that would significantly increase the company’s capital base and could support future project funding and strategic initiatives, while diluting existing shareholders’ stakes if the full allocation is taken up.

The most recent analyst rating on (AU:BPH) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on BPH Energy Limited stock, see the AU:BPH Stock Forecast page.

BPH Energy Raises $1.2m to Advance Gas Projects and Cortical Dynamics Investment
Jan 12, 2026

BPH Energy has secured binding commitments to raise approximately $1.2 million via a discounted share placement, issuing over 134 million new shares at $0.009 each with one free attaching option per share exercisable at $0.03. The funds will primarily support exploration and development of the company’s oil and gas investments, further funding for Cortical Dynamics’ expansion, and working capital, leaving BPH better funded ahead of a Federal Court hearing in February 2026 over the PEP-11 permit extension, a case that could materially influence its gas project portfolio and positioning amid Australia’s gas supply challenges.

The most recent analyst rating on (AU:BPH) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on BPH Energy Limited stock, see the AU:BPH Stock Forecast page.

BPH Energy Halts Trading Ahead of Planned Capital Raising Announcement
Jan 7, 2026

BPH Energy Ltd has requested and been granted a trading halt on its securities on the Australian Securities Exchange, pending a material announcement. The company said the halt is required to manage its continuous disclosure obligations as it prepares, plans and executes a capital raising, with trading expected to resume by 12 January 2026 or upon release of the announcement, signalling an impending fundraising initiative that could influence its capital structure and future project funding.

The most recent analyst rating on (AU:BPH) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on BPH Energy Limited stock, see the AU:BPH Stock Forecast page.

BPH Energy Director Increases Stake Through Rights Issue Options
Dec 29, 2025

BPH Energy Limited has disclosed a change in director Tony Huston’s interests in the company’s securities, reflecting his participation in a recent capital-raising initiative. Huston has been issued 1,542,762 options exercisable at $0.03 each by 27 December 2026 under a rights issue prospectus lodged with the ASX on 3 December 2025, with the subscription amount of $1,543 set off against fees owed to him, signalling director alignment with shareholder interests and support for the company’s current funding strategy.

BPH Energy Director Increases Option Holdings Through Rights Issue
Dec 29, 2025

BPH Energy Limited has disclosed a change in director David Breeze’s interests in the company’s securities following his participation in a recent rights issue. Breeze acquired 9,121,678 options exercisable at $0.03 each on or before 27 December 2026, with the $9,122 consideration set off against fees owed to him, increasing his total indirect and option holdings while his ordinary shareholding remains unchanged. The transaction, arising from a rights issue prospectus lodged earlier in December 2025, moderately strengthens Breeze’s equity-linked exposure to BPH Energy, aligning his interests more closely with shareholders and signalling continued insider support for the company’s capital structure.

BPH Energy Issues 10.7 Million Unquoted Options at 3 Cents
Dec 29, 2025

BPH Energy Ltd has notified the market of a new issue of unquoted equity securities in the form of options. The company will issue 10,664,440 options with an exercise price of $0.03 and an expiry date of 27 December 2026, a move that expands its pool of potential future equity and may provide additional capital-raising flexibility depending on future market conditions and option exercise levels.

BPH Energy Limited Announces Options Placement Prospectus
Dec 2, 2025

BPH Energy Limited has announced a prospectus for the placement of up to 622,276,452 new options, priced at $0.001 each, to raise approximately $622,276. This offer is split into a Placement Offer and a Director Offer, and is intended for investors in Australia and New Zealand. The options are considered highly speculative, and the company advises potential investors to seek professional advice before investing. The prospectus is a transaction-specific document and does not include comprehensive financial details, as BPH Energy is already a disclosing entity under the Corporations Act. The company emphasizes that the offer is not extended to participants outside of Australia and New Zealand, and highlights its continuous disclosure obligations to the ASX.

BPH Energy Limited Updates Director’s Securities Holdings
Dec 1, 2025

BPH Energy Limited announced a change in the director’s interest, with David Breeze acquiring 5,000,000 unlisted options as part of his remuneration package. This development reflects the company’s ongoing efforts to align management incentives with shareholder interests, potentially impacting its operational strategies and market positioning.

BPH Energy Issues Unlisted Options in Strategic Move
Dec 1, 2025

BPH Energy Limited has announced the issuance of 5,000,000 unlisted options with an exercise price of $0.03 each, set to expire on November 30, 2026. These securities are part of a previously announced transaction and are not intended to be quoted on the ASX, indicating a strategic move to potentially raise capital or incentivize stakeholders.

BPH Energy Limited’s AGM Sees All Resolutions Passed Amid Some Opposition
Nov 30, 2025

BPH Energy Limited held its Annual General Meeting on November 28, 2025, where all resolutions were passed on a poll, except for a significant number of votes against Resolution 3. The meeting’s outcomes reflect shareholder support for the company’s strategic initiatives, although the opposition to Resolution 3 indicates some shareholder concerns.

BPH Energy Highlights Urgent Need for Gas Supply Boost in Australia
Nov 28, 2025

BPH Energy Limited has highlighted the critical importance of boosting gas supply for Australia’s economic and energy security. The Australian Competition and Consumer Commission (ACCC) and other energy authorities have warned of impending gas supply shortfalls on the east coast, expected to begin from 2028, unless new gas projects are initiated. These shortfalls could lead to higher energy prices and increased risk of blackouts, impacting the entire economy. The Australian Energy Market Operator (AEMO) emphasizes the role of gas-powered generation in supporting a high-renewable power system, stating that new investments in gas supply are essential to maintain energy reliability and security.

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.Date of analysis: Feb 10, 2026