BSA Limited (BSA) AI Stock Analysis

• Market Cap: AU$5.95M
• Dividend Yield: N/A
• Average Volume (3M): 131.44K
• Price to Earnings (P/E): 0.3
• Beta (1Y): 2.14
• Revenue Growth: 18.55%
• EPS Growth: 90.06%
• Country: AU
• Employees: 234
• Sector: Industrials
• Sector Strength: 93
• Industry: Engineering & Construction
• EPS (TTM): 0.09
• Shares Outstanding: 75,300,260
• 10 Day Avg. Volume: 68,517
• 30 Day Avg. Volume: 131,440
• PEG Ratio: 0.01
• Price to Book (P/B): 0.61
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 1.40
• 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$1.85
• Price Target Upside: 2212.50% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 61 Neutral
• Price Target: AU$0.00 ▼(-100.00%Downside)

BSA Limited's overall score is primarily influenced by its attractive valuation and positive technical trends. However, financial performance remains a significant concern due to cash flow issues and financial instability. These risks moderate the positive aspects, resulting in a balanced overall assessment.

BSA Limited Business Overview & Revenue Model

Company Description

BSA Limited (BSA) is a diversified services and contracting company that operates across several key sectors, including telecommunications, infrastructure, and maintenance. The company's core offerings encompass a range of services such as project management, systems integration, and asset management, catering to both corporate and government clients.

How the Company Makes Money

BSA Limited generates revenue through its diverse service offerings across its key sectors. In telecommunications, the company earns money by providing network design, installation, and maintenance services, often under long-term contracts with major telecom providers. In infrastructure, BSA is involved in the delivery of end-to-end project management and system integration solutions, which contribute to its income through contract-based engagements. The maintenance sector provides steady revenue streams through ongoing service agreements for asset management and maintenance services. Significant partnerships with large corporations and government entities enhance BSA's market position and contribute to its financial performance by ensuring a consistent pipeline of projects and service agreements.

BSA Limited Financial Statement Overview

Summary

BSA Limited shows mixed financial performance with improved profitability but struggles with cash flow and balance sheet stability. The company faces significant risks due to financial leverage and weak cash generation despite positive revenue growth.

Income Statement

BSA Limited shows a mixed performance in its income statement. The gross profit margin improved significantly from previous years, indicating better cost management. However, net profit margins have been volatile, and while there was a positive net income in the latest report, the company has experienced losses in prior periods. Revenue growth rate was positive this year, reversing the declining trend seen previously. The EBIT and EBITDA margins have improved, but they remain moderate.

Balance Sheet

The balance sheet reveals financial instability with low stockholders' equity and high liabilities. The debt-to-equity ratio is concerning due to the low equity base, indicating potential financial risk. Additionally, the equity ratio is quite low, suggesting heavy reliance on debt financing. Return on equity shows a positive turnaround this year but follows a period of negative returns, highlighting volatility in performance.

Cash Flow

Cash flow analysis indicates challenges in generating positive operating cash flow in recent periods. The free cash flow is negative, and although there is a slight improvement in free cash flow growth, it remains concerning. The operating cash flow to net income ratio is negative, emphasizing difficulties in converting earnings to cash. The free cash flow to net income ratio is also negative, suggesting cash flow issues.

Breakdown	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020
Income Statement
Total Revenue	255.46M	239.67M	466.14M	418.35M	486.11M
Gross Profit	69.34M	61.38M	85.23M	97.43M	56.97M
EBITDA	22.21M	16.25M	-42.98M	12.75M	22.99M
Net Income	10.63M	-2.96M	-42.24M	9.00K	-960.00K
Balance Sheet
Total Assets	59.28M	62.52M	127.63M	125.20M	147.45M
Cash, Cash Equivalents and Short-Term Investments	1.57M	1.96M	13.44M	12.82M	37.74M
Total Debt	10.78M	9.94M	22.30M	9.22M	16.47M
Total Liabilities	57.67M	72.12M	134.72M	101.09M	115.16M
Stockholders Equity	1.60M	-9.61M	-7.09M	24.11M	32.29M
Cash Flow
Free Cash Flow	-1.60M	-20.02M	-16.06M	-11.32M	20.92M
Operating Cash Flow	-1.05M	-17.93M	-13.77M	-7.58M	31.29M
Investing Cash Flow	-1.46M	17.72M	-2.32M	-2.34M	-10.20M
Financing Cash Flow	2.12M	-11.27M	16.71M	-15.00M	-5.29M

BSA Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.08
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BSA, the sentiment is Positive. The current price of 0.08 is above the 20-day moving average (MA) of 0.08, above the 50-day MA of 0.07, and below the 200-day MA of 0.50, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 54.42 is Neutral, neither overbought nor oversold. The STOCH value of 38.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:BSA.

BSA Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EVZ	70 Outperform	AU$20.03M	13.33	4.42%	―	-6.63%	-26.38%
RDG	67 Neutral	AU$23.61M	1.90	13.01%	―	66.22%	20.83%
VBC	66 Neutral	€29.22M	10.64	14.71%	―	-17.71%	―
BSA	61 Neutral	AU$5.95M	0.35	1050.70%	―	18.55%	90.06%
Sector *	59 Neutral	AU$1.65B	10.07	11.24%	3.41%	6.92%	3.55%
WSI	50 Neutral	AU$7.73M	3.21	-3.31%	―	-30.52%	-192.05%
SOP	50 Neutral	AU$14.54M	―	-100.21%	―	9.01%	-4.27%

BSA Limited Corporate Events

BSA Limited Announces Change in Substantial Holder Interests

BSA Limited has announced a change in the interests of a substantial holder, NAOS Asset Management Limited, as per the requirements of the Corporations Act 2001. The change reflects a decrease in voting power from 32.72% to 30.15%, indicating a shift in the ownership dynamics within the company, which could have implications for its governance and strategic direction.

The most recent analyst rating on (AU:BSA) stock is a Buy with a A$1.40 price target. To see the full list of analyst forecasts on BSA Limited stock, see the AU:BSA Stock Forecast page.

BSA Limited Appoints New Chief Financial Officer

BSA Limited has announced the appointment of Nanda Herling as its new Chief Financial Officer and Company Secretary, effective July 1, 2025. Nanda brings over 15 years of experience in financial management, having worked with ASX-listed entities, SMEs, and multinationals, and has been with BSA for over four years. Her appointment is expected to enhance BSA’s financial operations and strengthen its position in the telecommunications, smart energy, and EV sectors.

The most recent analyst rating on (AU:BSA) stock is a Buy with a A$1.40 price target. To see the full list of analyst forecasts on BSA Limited stock, see the AU:BSA Stock Forecast page.

BSA Limited CFO Resigns, Transition Plan in Place

BSA Limited has announced the resignation of its Chief Financial Officer, Arjan van Ameyde, who is leaving to pursue a new opportunity. The company is in the process of appointing a new CFO and expects to make an announcement soon. This transition is expected to be smooth, as Arjan will remain with the company during the handover period. The announcement reflects the company’s ongoing efforts to maintain stability and continuity in its leadership team, which is crucial for its operations and relationships within the telecommunications and smart energy sectors.

The most recent analyst rating on (AU:BSA) stock is a Buy with a A$1.62 price target. To see the full list of analyst forecasts on BSA Limited stock, see the AU:BSA Stock Forecast page.

BSA Limited Announces Departure of Director Brendan York

BSA Limited has announced that Brendan York has ceased to be a director of the company as of June 11, 2025. This final director’s interest notice indicates that York held no relevant interests in securities, either as a registered holder or otherwise, at the time of his departure. The announcement is part of the company’s compliance with ASX listing rules and the Corporations Act, ensuring transparency and proper disclosure of changes in directorship, which may impact stakeholders’ perception of the company’s governance.

The most recent analyst rating on (AU:BSA) stock is a Buy with a A$1.40 price target. To see the full list of analyst forecasts on BSA Limited stock, see the AU:BSA Stock Forecast page.

BSA Limited Announces Leadership Transition and Business Restructure

BSA Limited has announced a leadership transition with Joint CEOs Richard Bartley and Arno Becker stepping down, and Sasho Kacevski appointed as the new CEO, effective June 2, 2025. This change is part of a major restructuring effort following the company’s unsuccessful bid for the new NBN Co Field Module tender, aiming to align with a reduced operating footprint and cost base. Additionally, Arjan van Ameyde has been appointed as the new CFO and Company Secretary. BSA has also revised its financing facilities with the Commonwealth Bank of Australia, reducing its base borrowing and guarantee facilities to better align with its current working capital needs.

The most recent analyst rating on (AU:BSA) stock is a Buy with a A$1.40 price target. To see the full list of analyst forecasts on BSA Limited stock, see the AU:BSA Stock Forecast page.

BSA Limited Appoints Paul Heick as Non-Executive Director

BSA Limited has announced the appointment of Paul Heick as an additional Non-Executive Director. With over 25 years of experience in financial leadership across infrastructure, engineering, and telecommunications sectors, Paul is expected to contribute significantly to BSA’s strategic business growth and operational transformation. This appointment is likely to strengthen BSA’s industry positioning and enhance its operational capabilities, benefiting stakeholders and supporting the company’s growth objectives.

The most recent analyst rating on (AU:BSA) stock is a Buy with a A$1.40 price target. To see the full list of analyst forecasts on BSA Limited stock, see the AU:BSA Stock Forecast page.

BSA Limited Announces Director Departure

BSA Limited has announced the cessation of Christopher Halios-Lewis as a director, effective April 24, 2025. The company has reported that Halios-Lewis holds no relevant interests in securities as either a registered or non-registered holder, and has no interests in contracts, indicating a clean departure from the company’s board.

BSA Limited Reports Strong Q3 Performance Amid Contract Challenges

BSA Limited reported a strong financial performance for Q3 FY2025, with a revenue increase of 12.3% and an EBITDA rise of 26.6% compared to the previous year. Despite these gains, the company faces challenges as it was unsuccessful in securing a new NBN Co Field Module contract and anticipates a significant reduction in smart metering contract volumes, impacting future revenues. The company plans to incur restructuring costs to adapt to these changes, focusing on operational efficiencies and strategic business realignment.