Beach Energy Limited (AU:BPT)
ASX:BPT
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Beach Energy
(Sydney:BPT)
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Rating:68Neutral
Price Target:
AU$1.50
▲(20.00% Upside)
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
Strong cash generation & liquidity
Material free cash flow and large available liquidity (AUD225m FCF, AUD925m liquidity) and recent refinancing materially reduce funding risk. This durable cash generation supports sustained capex, project funding and optionality for returns or debt reduction across commodity cycles.
Negative Factors
Weak profitability metrics
Despite revenue growth, negative EBIT/net margins and a negative ROE indicate underlying earnings-quality and efficiency problems. Persistently weak profitability can limit retained earnings, constrain reinvestment capacity and strain returns to shareholders over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation & liquidity
Material free cash flow and large available liquidity (AUD225m FCF, AUD925m liquidity) and recent refinancing materially reduce funding risk. This durable cash generation supports sustained capex, project funding and optionality for returns or debt reduction across commodity cycles.
Read all positive factors
Beach Energy (BPT) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$2.85B
Dividend Yield7.72%
Average Volume (3M)7.96M
Price to Earnings (P/E)4.5
Beta (1Y)0.54
Revenue Growth17.16%
EPS Growth90.79%
CountryAU
Employees214
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)0.10
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$1.07Price Target Upside-14.74% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering11
EPS Forecast (FY)0.16
Revenue Forecast (FY)AU$1.95B
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—natural gas and liquids (crude oil and condensate)—from its operated and non-operated upstream assets. Revenue is largely generated from (1) natural gas sales to customers un...
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
Positive
1.25
Price Trends
1.16
Positive
1.17
Positive
1.18
Positive
Market Momentum
0.04
Negative
59.00
Neutral
84.71
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BPT, the sentiment is Positive. The current price of 1.25 is above the 20-day moving average (MA) of 1.18, above the 50-day MA of 1.16, and above the 200-day MA of 1.18, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 59.00 is Neutral, neither overbought nor oversold. The STOCH value of 84.71 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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$63.85B | 10.61 | 7.67% | 7.16% | 17.13% | 61.35% | |
71 Outperform | AU$1.37B | 3.37 | 15.02% | 4.74% | -17.02% | -35.47% | |
68 Neutral | AU$2.85B | 4.48 | -3.66% | 7.72% | 17.16% | 90.79% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
65 Neutral | AU$24.82B | 15.76 | 5.26% | 6.00% | -5.81% | -17.90% | |
49 Neutral | AU$1.04B | -30.28 | -21.66% | ― | ― | ― | |
48 Neutral | AU$356.34M | -7.29 | -46.22% | ― | 59.48% | -1714.71% |
* Energy Sector Average
AU:BPT
Beach Energy
1.25
-0.15
-10.78%
AU:KAR
Karoon Energy Ltd
1.91
0.32
20.13%
AU:STO
Santos Limited
7.66
1.28
20.01%
AU:STX
Strike Energy Limited
0.10
-0.09
-46.49%
AU:TBN
Tamboran Resources Limited
0.23
0.05
25.00%
AU:WDS
Woodside Energy Group
33.62
11.63
52.87%
Beach Energy Corporate Events
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...
Beach Energy Enters Taroom Trough in Omega-Led Gas Joint Venture
Feb 9, 2026
Beach Energy has secured a 25% interest in a large new exploration block in Queensland’s Taroom Trough, as part of an Omega Oil and Gas‑led joint venture that also includes Tri‑Star EP. The block, awarded by the Queensland Govern...
Beach Energy Declares Interim Dividend of A$0.01 per Share
Feb 4, 2026
Beach Energy has declared an interim ordinary dividend of A$0.01 per fully paid share for the six-month period ending 31 December 2025. The stock will trade ex-dividend on 26 February 2026, with a record date of 27 February 2026 and payment due on...
Beach Energy Sets Assumptions and Reporting Framework for FY26 Half-Year Results
Feb 4, 2026
Beach Energy’s FY26 half-year results presentation outlines the basis on which its operational, financial and reserves information is reported, emphasising that a range of non-IFRS measures such as underlying EBITDAX, EBITDA, EBIT and free c...
Beach Energy lifts revenue and strengthens balance sheet as Waitsia ramps up and Moomba CCS scales
Feb 4, 2026
Beach Energy reported FY26 first-half production of 9.5 MMboe, down 7% due to prior Cooper Basin flooding, but lifted sales revenue to $982 million, supported by four LNG cargoes from Waitsia contributing $233 million and a 13% rise in average rea...
Beach Energy Issues Administrative Half-Year Update
Feb 4, 2026
Beach Energy released its half-year report for the period ended 31 December 2025, highlighting governance details and regulatory filings without disclosing operational or financial results. The announcement mainly provides administrative informati...
Beach Energy CEO Brett Woods Sees Major Tranche of Performance Rights Vest
Jan 30, 2026
Beach Energy has disclosed a change in managing director Brett Woods’ interests in the company’s securities, following the vesting of a substantial tranche of performance rights awarded as part of his sign-on incentive package approved...
Beach Energy sets date for FY26 half-year results webcast
Jan 28, 2026
Beach Energy will release its FY26 half-year financial results on 5 February 2026, with Managing Director and CEO Brett Woods and Chief Financial Officer Anne‑Marie Barbaro set to host a webcast briefing for investors and other stakeholders ...
Beach Energy Output and Revenue Dip as Waitsia Ramps Up and Cash Position Strengthens
Jan 20, 2026
Beach Energy reported a 9% quarter-on-quarter fall in production to 4.5 MMboe and a 17% decline in sales revenue to $445 million for the December 2025 quarter, driven mainly by lower Otway Basin gas output, reduced oil liftings and weaker LNG pric...
Beach Energy Reports Lapse of Performance and Matched Rights
Jan 9, 2026
Beach Energy has notified the market of the cessation of a total of 180,964 equity-related securities, comprising 3,117 matched rights and 177,847 performance rights, after the conditions attached to these instruments were not met or became incapa...
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.