BSA Limited (BSA) AI Stock Analysis

• Market Cap: AU$11.67M
• Dividend Yield: N/A
• Average Volume (3M): 192.24K
• Price to Earnings (P/E): 3.1
• Beta (1Y): 2.70
• Revenue Growth: 12.34%
• EPS Growth: -66.13%
• Country: AU
• Employees: 234
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): -0.06
• Shares Outstanding: 75,300,260
• 10 Day Avg. Volume: 179,227
• 30 Day Avg. Volume: 192,244
• PEG Ratio: -0.02
• Price to Book (P/B): 0.83
• Price to Sales (P/S): 0.02
• P/FCF Ratio: 0.19
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: AU$0.16 ▲(2.50% Upside)

Overall score reflects strong technical positioning and very low P/E, tempered by mixed financial performance—especially compressed gross margin, thin net profitability, and balance-sheet risk from low equity despite improved leverage and strong cash flow.

Positive Factors

Free Cash Flow Improvement

The substantial improvement in free cash flow indicates strong cash generation capabilities, enhancing BSA's ability to invest in growth opportunities and manage debt effectively.

Operational Efficiency

Improved EBIT and EBITDA margins suggest enhanced operational efficiency, which can lead to better profitability and competitive positioning in the long term.

Leverage Improvement

Reduced leverage enhances financial stability and flexibility, allowing BSA to better withstand economic fluctuations and invest in strategic initiatives.

Negative Factors

Gross Margin Compression

Significant compression in gross margins indicates increased cost pressures, which could impact profitability and limit resources for reinvestment in the business.

Low Net Profit Margin

A persistently low net profit margin suggests difficulties in translating revenue growth into meaningful profits, potentially affecting long-term financial health.

Low Equity Levels

Low equity levels can indicate financial instability and limit the company's ability to absorb losses or invest in growth without increasing debt.

BSA Limited Business Overview & Revenue Model

Company Description

BSA Limited, together with its subsidiaries, provides services for communications and utilities infrastructure, and property solutions in Australia. It operates through two segments, Communications & Utility Infrastructure (CUI) and Advanced Property Solutions (APS). The CUI segment engages in the delivery of bundled services over fixed line and wireless networks; and installation of subscription television and smart meters to the telecommunications, subscription television, and utility industries. The APS segment designs, installs, maintains, and optimizes building services for various hard assets in facilities and infrastructures, including fire detection and suppression, mechanical services, heating, ventilation, air conditioning, refrigeration, electrical, and building management systems. BSA Limited was incorporated in 1999 and is based in Chatswood, Australia.

How the Company Makes Money

BSA generates revenue primarily through its service contracts with clients in telecommunications and utilities, where it charges for network deployment, maintenance, and management services. The company also earns income from technology consulting and project management services, which are often billed on a contractual basis. Key revenue streams include long-term contracts with major telecommunications firms for infrastructure development and maintenance, as well as partnerships with technology providers to deliver integrated solutions. Additionally, BSA may benefit from government contracts related to public infrastructure projects, contributing further to its earnings.

BSA Limited Financial Statement Overview

Summary

BSA Limited has shown signs of recovery with improved revenue growth and operational efficiency. However, challenges remain with profitability margins and financial stability due to low equity levels. The strong cash flow position reflects effective cash management, but the company needs to address profitability and leverage for sustainable growth.

Income Statement

BSA Limited has shown a positive revenue growth rate of 1.55% in the latest year, indicating a recovery from previous declines. The gross profit margin has decreased significantly from 27.14% to 15.25%, suggesting increased cost pressures. However, the net profit margin remains low at 1.30%, reflecting challenges in converting revenue into profit. The EBIT and EBITDA margins have improved, indicating better operational efficiency.

Balance Sheet

The company's debt-to-equity ratio has improved to 0.23, showing reduced leverage compared to previous years. However, the return on equity is exceptionally high at 53.66%, driven by low equity levels, which could indicate financial instability. The equity ratio is low, suggesting a heavy reliance on debt financing.

Cash Flow

BSA Limited has demonstrated a significant improvement in free cash flow, with a growth rate of 676.77%. The operating cash flow to net income ratio is strong at 0.85, indicating good cash generation relative to net income. The free cash flow to net income ratio is nearly 1, showing efficient cash conversion.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	286.98M	286.98M	255.46M	239.67M	244.10M	418.35M
Gross Profit	43.77M	43.77M	69.34M	23.55M	5.80M	18.90M
EBITDA	30.95M	30.95M	22.21M	16.25M	-38.98M	12.75M
Net Income	3.73M	3.73M	10.63M	-2.96M	-42.24M	9.00K
Balance Sheet
Total Assets	46.60M	46.60M	59.28M	62.52M	127.63M	125.20M
Cash, Cash Equivalents and Short-Term Investments	23.97M	23.97M	1.57M	1.96M	13.44M	12.82M
Total Debt	1.57M	1.57M	10.78M	9.94M	22.30M	9.22M
Total Liabilities	39.65M	39.65M	57.67M	72.12M	134.72M	101.09M
Stockholders Equity	6.95M	6.95M	1.60M	-9.61M	-7.09M	24.11M
Cash Flow
Free Cash Flow	30.43M	30.43M	-1.60M	-20.02M	-16.06M	-11.32M
Operating Cash Flow	30.48M	30.48M	-1.05M	-17.93M	-13.77M	-7.58M
Investing Cash Flow	-404.00K	-404.00K	-1.46M	17.72M	-2.32M	-2.34M
Financing Cash Flow	-7.67M	-7.67M	2.12M	-11.27M	16.71M	-15.00M

BSA Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.16
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• 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 0.16 is above the 20-day moving average (MA) of 0.15, above the 50-day MA of 0.13, and above the 200-day MA of 0.11, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 63.21 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 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	69 Neutral	AU$27.95M	22.55	3.66%	―	-9.21%	-42.37%
BSA	69 Neutral	AU$11.67M	3.08	87.22%	―	12.34%	-66.13%
VBC	65 Neutral	AU$63.89M	16.28	17.38%	0.49%	-8.28%	89.71%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
WSI	48 Neutral	AU$10.82M	-3.05	-11.81%	―	-36.40%	-192.91%
SOP	44 Neutral	AU$10.39M	-1.36	-90.66%	―	-6.10%	12.50%

BSA Limited Corporate Events

BSA Limited Launches Cost-Effective Share Sale Facility for Small Shareholders

BSA Limited has introduced a share sale facility aimed at reducing administrative costs associated with maintaining small shareholdings, defined as those with a market value under $500. This initiative allows shareholders with ‘Less than Marketable Parcels’ to sell their shares without incurring brokerage fees, thereby offering a cost-effective solution for disposing of small shareholdings. The company will manage the sale process and cover associated costs, excluding tax implications for shareholders. This move is expected to streamline operations and potentially enhance shareholder value by reducing overhead costs.

The most recent analyst rating on (AU:BSA) stock is a Hold with a A$0.12 price target. To see the full list of analyst forecasts on BSA Limited stock, see the AU:BSA Stock Forecast page.

BSA Limited AGM 2025: Key Resolutions and Leadership Endorsement

BSA Limited announced the results of its Annual General Meeting, highlighting that the resolution to adopt the Remuneration Report was not carried, marking a ‘first strike’ under the Corporations Act 2001. Despite this, other resolutions, including the election and re-election of directors, were successfully carried, indicating continued support for the company’s leadership and strategic direction.

The most recent analyst rating on (AU:BSA) stock is a Buy with a A$1.85 price target. To see the full list of analyst forecasts on BSA Limited stock, see the AU:BSA Stock Forecast page.

BSA Limited Outlines Strategic Focus Amidst Challenging Environment

BSA Limited’s Chairman and CEO addressed the company’s ongoing challenges and strategic initiatives during the AGM. Despite operating at a loss due to the expiry of legacy contracts, BSA has improved its outlook through operational discipline and contract renewals. The company is focusing on efficiency, cash protection, and strategic opportunities, while emphasizing the importance of its workforce and maintaining a strong work culture.

The most recent analyst rating on (AU:BSA) stock is a Buy with a A$1.85 price target. To see the full list of analyst forecasts on BSA Limited stock, see the AU:BSA Stock Forecast page.

BSA Limited Faces Revenue Decline Amid Contract Expirations and Restructuring Efforts

BSA Limited reported a significant decline in revenue and EBITDA for Q1 FY2026, primarily due to the expiration of the nbn contract and unfavorable outcomes in tender and contract renewals. Despite these challenges, the company is restructuring its operations, reducing staff, and focusing on new projects such as IP bundling and EV charging site development to drive future growth. The company remains in a strong net cash position, which it plans to leverage for strategic growth and operational optimization.

The most recent analyst rating on (AU:BSA) stock is a Buy with a A$1.85 price target. To see the full list of analyst forecasts on BSA Limited stock, see the AU:BSA Stock Forecast page.

BSA Limited Announces 2025 AGM and Director Elections

BSA Limited has announced its Annual General Meeting (AGM) to be held on November 25, 2025, at their Chatswood, NSW location. The meeting will cover the financial reports for the year ending June 30, 2025, and include resolutions on the remuneration report and the election or re-election of directors, including Nicholas Yates, Warwick Sauer, Paul Heick, and Daniel Raihani. Shareholders are encouraged to submit proxies early, and voting will be conducted by a poll.

The most recent analyst rating on (AU:BSA) stock is a Buy with a A$1.85 price target. To see the full list of analyst forecasts on BSA Limited stock, see the AU:BSA Stock Forecast page.