Beach Energy Limited (AU:BPT)
ASX:BPT
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Beach Energy
(Sydney:BPT)
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Rating:68Neutral
Price Target:
AU$1.00
▼(-16.67% Downside)
Action:DowngradedDate:03/26/26
The score is driven primarily by solid cash flow and balance-sheet positioning despite ongoing profitability pressure, supported by attractive valuation (low P/E and high yield). Technicals are net positive but look overbought, while the latest earnings call was constructive on guidance and execution momentum but tempered by ramp-up and regulatory risks.
Positive Factors
Cash generation
Sustained operating cash flow and material free cash flow demonstrate durable cash conversion from core production. This supports funding of development capex, LNG activity and dividends, lowers refinancing risk and provides flexibility to invest in Waitsia and Western Flank over the next 2–6 months and beyond.
Negative Factors
Profitability & returns
Persistent negative operating and net margins undermine return on capital and shareholder returns. Even with revenue growth, weak profitability reduces self‑funding of growth and limits ability to sustainably raise dividends or absorb commodity price shocks, pressuring long‑term earnings quality.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sustained operating cash flow and material free cash flow demonstrate durable cash conversion from core production. This supports funding of development capex, LNG activity and dividends, lowers refinancing risk and provides flexibility to invest in Waitsia and Western Flank over the next 2–6 months and beyond.
Read all positive factors
Beach Energy (BPT) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$2.45B
Dividend Yield7.72%
Average Volume (3M)7.96M
Price to Earnings (P/E)4.5
Beta (1Y)0.39
Revenue Growth11.40%
EPS Growth-225.74%
CountryAU
Employees214
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-0.05
Shares Outstanding2,281,333,700
10 Day Avg. Volume7,216,126
30 Day Avg. Volume7,958,852
Financial Highlights & Ratios
PEG Ratio0.76
Price to Book (P/B)0.95
Price to Sales (P/S)1.43
P/FCF Ratio8.86
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$1.13Price Target Upside-5.93% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering9
EPS Forecast (FY)0.17
Revenue Forecast (FY)AU$1.93B
Beach Energy Business Overview & Revenue Model
Company Description
Beach Energy Limited operates as an oil and gas exploration and production company. It engages in the operated and non-operated, onshore and offshore, and oil and gas production in five producing basins across Australia and New Zealand. The compan...
How the Company Makes Money
Beach Energy primarily makes money by producing and selling hydrocarbons—mainly natural gas (and associated products such as condensate and LPG, where produced) and crude oil/condensate—from its operated and non-operated interests in petroleum fie...
Beach Energy Earnings Call Summary
Earnings Call Date:Feb 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Aug 10, 2026
Earnings Call Sentiment Positive
The call presented a predominantly positive operational and financial picture: strong safety performance, material milestone delivery (Waitsia first gas, Western Flank drilling progress, Moomba CCS achievements), improved realized gas pricing, solid liquidity (AUD 925m) and healthy cash generation (EBITDA AUD 558m, free cash flow AUD 225m). Key negatives included impacts from the prior Cooper Basin flood and softer oil prices (realized oil -12%), an unsuccessful Hercules exploration well, early ramp-up issues and accounting/return obligations for purchased LNG volumes, and regulatory uncertainty from the East Coast gas review. On balance, the positive achievements, balance-sheet strength and clear execution momentum outweigh the mid-term operational and regulatory challenges.Positive Updates
Waitsia first gas and ramp-up progress
First gas achieved at Waitsia gas plant in early December; plant ramping up with two compressors commissioned and peak observed of 165 TJ/day to date (nameplate 250 TJ/day). Third compressor commissioning imminent; project expected to reach nameplate as compressors come online.
Negative Updates
Cooper Basin flood impact on production
Production in the half was 9.5 million boe, materially affected by the FY25 Cooper Basin flooding; although 97% of flood-impacted production was restored by end-December, lower production contributed to earnings pressure.
Read all updates
Q2-2026 Updates
Positive
Negative
Waitsia first gas and ramp-up progress
First gas achieved at Waitsia gas plant in early December; plant ramping up with two compressors commissioned and peak observed of 165 TJ/day to date (nameplate 250 TJ/day). Third compressor commissioning imminent; project expected to reach nameplate as compressors come online.
Read all positive updates
Company Guidance
Management maintained FY‑26 guidance: production 19.7–22.5 million BOE and total capital expenditure $675–775 million (sustaining capex below $450 million), while Waitsia ramp‑up continues toward 250 TJ/day nameplate (peak to date 165 TJ/day; 3–4 month ramp plan with 3rd/4th compressors commissioning in Q3), Artisan/La Bella FID targeted H2 FY‑26 with gas production aimed for FY‑29, and Phase 2 Equinox plus Western Flank drilling (12‑well appraisal/development and a later 10‑well exploration campaign) to proceed; H1 metrics included 9.5 MMboe production, 12.7 MMboe sales, $1.0bn total revenue (~$982m sales), underlying EBITDA $558m, underlying NPAT $219m, free cash flow $225m, operating cash flow $442m, H1 capex $377m, closing cash $235m, $925m available liquidity, 12% net gearing and an interim dividend of $0.01/share.Beach Energy Financial Statement Overview
Summary
Income Statement
55
Neutral
Balance Sheet
65
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.10B | 2.11B | 1.77B | 1.62B | 1.75B | 1.56B |
| Gross Profit | 538.50M | 1.13B | 481.40M | 569.10M | 761.10M | 594.90M |
| EBITDA | 291.30M | 439.80M | -593.90M | 609.40M | 736.30M | 876.00M |
| Net Income | -115.90M | -43.80M | -475.30M | 400.80M | 500.80M | 316.50M |
Balance Sheet | ||||||
| Total Assets | 5.42B | 5.28B | 5.50B | 5.89B | 5.10B | 5.01B |
| Cash, Cash Equivalents and Short-Term Investments | 235.20M | 172.20M | 172.00M | 218.90M | 254.50M | 126.70M |
| Total Debt | 725.40M | 571.50M | 794.70M | 408.50M | 120.30M | 277.10M |
| Total Liabilities | 2.25B | 2.12B | 2.19B | 2.02B | 1.56B | 1.93B |
| Stockholders Equity | 3.17B | 3.16B | 3.31B | 3.88B | 3.54B | 3.09B |
Cash Flow | ||||||
| Free Cash Flow | 283.80M | 339.90M | -318.90M | -242.00M | 310.40M | 86.20M |
| Operating Cash Flow | 915.90M | 1.13B | 774.10M | 928.60M | 1.22B | 759.80M |
| Investing Cash Flow | -754.00M | -792.10M | -1.08B | -1.17B | -897.80M | -757.80M |
| Financing Cash Flow | -176.10M | -340.30M | 260.60M | 205.50M | -199.50M | 21.00M |
Beach Energy Technical Analysis
Neutral
1.20
Price Trends
1.18
Positive
1.17
Positive
1.19
Positive
Market Momentum
<0.01
Positive
45.22
Neutral
22.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BPT, the sentiment is Neutral. The current price of 1.2 is below the 20-day moving average (MA) of 1.26, above the 50-day MA of 1.18, and above the 200-day MA of 1.19, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 45.22 is Neutral, neither overbought nor oversold. The STOCH value of 22.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:BPT.
Beach Energy Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | AU$57.07B | 5.23 | 7.67% | 7.16% | -5.14% | -22.20% | |
68 Neutral | AU$2.45B | 4.48 | -3.66% | 7.72% | 11.40% | -225.74% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
65 Neutral | AU$1.39B | 5.05 | 16.10% | 4.74% | -17.21% | 8.09% | |
65 Neutral | AU$24.37B | 8.64 | 5.26% | 6.00% | -5.72% | -31.55% | |
49 Neutral | AU$460.72M | -6.11 | -14.19% | ― | ― | 25.55% | |
48 Neutral | AU$395.93M | -7.29 | -46.22% | ― | -0.51% | -756.45% |
* Energy Sector Average
AU:BPT
Beach Energy
1.08
-0.11
-9.51%
AU:BTL
Empire Energy Group Limited
0.31
0.11
58.97%
AU:KAR
Karoon Energy Ltd
1.96
0.45
29.63%
AU:STO
Santos Limited
7.52
1.55
25.92%
AU:STX
Strike Energy Limited
0.11
-0.08
-42.11%
AU:WDS
Woodside Energy Group
30.05
10.67
55.02%
Beach Energy Corporate Events
Beach Energy outlines assumptions, non‑IFRS metrics and reserves framework in Macquarie Conference presentation
May 5, 2026
Beach Energy has released a presentation for the Macquarie Conference outlining its use of non‑IFRS financial measures such as underlying EBITDAX, EBITDA, EBIT, underlying profit and free cash flow to give investors a clearer view of its ope...
Beach Energy lifts output, boosts liquidity and doubles down on East Coast gas growth
Apr 27, 2026
Beach Energy reported a 7% quarterly increase in production to 4.8 million barrels of oil equivalent, driven largely by ramp-up at the Waitsia Gas Plant, which has reached 94% of nameplate capacity. Overall sales volumes fell 10% to 5.3 MMboe and ...
Beach Energy Backs $250m Moomba Central Upgrade to Cut Costs and Boost East Coast Gas
Mar 8, 2026
Beach Energy and joint venture operator Santos have approved the Moomba Central Optimisation project in South Australia’s Cooper Basin, committing about $250 million in capital over three years to overhaul and centralise the region’s g...
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.