BSA Limited (BSA) AI Stock Analysis

• Market Cap: AU$5.57M
• Dividend Yield: N/A
• Average Volume (3M): 78.44K
• Price to Earnings (P/E): 0.3
• Beta (1Y): 2.07
• Revenue Growth: 18.55%
• EPS Growth: 90.06%
• Country: AU
• Employees: 234
• Sector: Industrials
• Sector Strength: 87
• Industry: Engineering & Construction
• EPS (TTM): 0.09
• Shares Outstanding: 75,300,260
• 10 Day Avg. Volume: 57,495
• 30 Day Avg. Volume: 78,438
• PEG Ratio: 0.15
• Price to Book (P/B): -4.47
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -2.14
• 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: 2542.86% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0

• Rating: 48 Neutral
• Price Target: AU$0.00 ▼(-100.00%Downside)

BSA Limited's overall stock score is primarily impacted by its financial performance, which shows improvements in profitability but highlights significant risks due to cash flow challenges and financial leverage. Technical analysis suggests some positive momentum, but caution is advised due to potential bearish signals. Valuation metrics indicate potential undervaluation, though they also raise concerns about financial stability. The absence of earnings call data and corporate events does not influence the score.

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 Limited generates revenue through a diversified portfolio of services primarily within the telecommunications and infrastructure sectors. The company's revenue model includes contracts for deploying, maintaining, and managing telecommunications networks, which involve installing and servicing network equipment and infrastructure for major telecommunications providers. Additionally, BSA derives income from providing infrastructure services to the energy and utilities sectors, including the installation and maintenance of systems for electricity and gas distribution. Key revenue streams include long-term service agreements with telecommunications carriers, utilities, and government entities, often leveraging significant partnerships and collaborations with industry leaders to enhance service delivery and expand market reach.

BSA Limited Financial Statement Overview

Summary

BSA Limited shows some improvement in profitability with better revenue and profit margins. However, financial instability is evident with a concerning debt-to-equity ratio, high liabilities, and weak cash flow generation. The challenges in generating positive operating cash flow and the reliance on debt financing pose significant risks.

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
TTM	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020
Income Statement		Total Revenue
282.61M	255.46M	239.67M	466.14M	418.35M	486.11M
	Gross Profit
41.23M	69.34M	61.38M	85.23M	97.43M	56.97M
	EBIT
32.94M	14.16M	11.86M	-14.03M	-5.10M	8.30M
	EBITDA
26.43M	22.21M	16.25M	-42.98M	12.75M	22.99M
	Net Income Common Stockholders
16.44M	10.63M	-2.96M	-42.24M	9.00K	-960.00K
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
2.21M	1.57M	1.96M	13.44M	12.82M	37.74M
	Total Assets
51.47M	59.28M	62.52M	127.63M	125.20M	147.45M
	Total Debt
2.10M	10.78M	9.94M	22.30M	9.22M	16.47M
	Net Debt
-111.00K	9.21M	7.98M	8.86M	-3.60M	-21.28M
	Total Liabilities
40.54M	57.67M	72.12M	134.72M	101.09M	115.16M
	Stockholders Equity
10.92M	1.60M	-9.61M	-7.09M	24.11M	32.29M
Cash Flow		Free Cash Flow
3.92M	-1.60M	-20.02M	-16.06M	-11.32M	20.92M
	Operating Cash Flow
4.31M	-1.05M	-17.93M	-13.77M	-7.58M	31.29M
	Investing Cash Flow
-392.00K	-1.46M	17.72M	-2.32M	-2.34M	-10.20M
	Financing Cash Flow
-4.05M	2.12M	-11.27M	16.71M	-15.00M	-5.29M

BSA Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.07
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BSA, the sentiment is Neutral. The current price of 0.07 is above the 20-day moving average (MA) of 0.06, above the 50-day MA of 0.06, and below the 200-day MA of 0.62, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 64.66 is Neutral, neither overbought nor oversold. The STOCH value of 83.65 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:BSA.

BSA Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	66 Neutral	$4.51B	12.22	5.40%	3.63%	4.14%	-12.01%
BSA	48 Neutral	AU$5.57M	0.31	1050.70%	―	18.55%	90.06%
SERKF		$219.79M	―	-20.46%	―	―	―
TPGTF		$6.34B	280.66	-0.95%	―	―	―
TTRAF		$36.30B	35.34	11.34%	3.52%	―	―
KX2		€127.24M	34.39	-1.37%	―	―	―
6MM		€88.36M	―	-71.41%	5.44%	―	―

BSA Limited Corporate Events

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.

BSA Limited Appoints New Director Warwick Sauer

BSA Limited has announced the appointment of Warwick Sauer as a new director, effective from April 17, 2025. As part of the announcement, it was disclosed that Mr. Sauer holds 466 ordinary shares in the company. This appointment is part of BSA Limited’s ongoing efforts to strengthen its leadership team, which could influence its strategic direction and potentially impact its market position.

BSA Limited Strengthens Board with New Non-Executive Director Appointment

BSA Limited has announced the appointment of Warwick Sauer as an additional Non-Executive Director. With over 25 years of experience as a corporate lawyer, including significant roles such as general counsel for JLL’s APAC business, Sauer brings valuable expertise to BSA. This strategic appointment is expected to enhance BSA’s governance and potentially strengthen its position in the telecommunications and smart energy sectors.

BSA Limited Announces Quotation of New Securities on ASX

BSA Limited has announced the application for quotation of 187 ordinary fully paid securities on the Australian Securities Exchange (ASX) as of April 7, 2025. This move involves the issuance, transfer, or reclassification of securities resulting from options being exercised or other convertible securities being converted, potentially impacting the company’s market presence and shareholder value.

BSA Limited Reports Strong Q3 Results Amid Smart Metering Contract Challenges

BSA Limited has announced a strong financial performance for the third quarter of FY2025, with an expected EBITDA of approximately $7 million and a cash flow exceeding $8 million, supported by effective working capital management. However, the company faces challenges with its smart metering contracts as Intellihub has significantly reduced volumes, and Bluecurrent may not renew agreements in FY2026, prompting BSA to implement resource reallocation and cost management strategies to mitigate financial impacts while seeking new growth opportunities in the energy and utilities sector.

BSA Limited Announces Director Resignation and Search for Successor

BSA Limited announced the resignation of Mr. Chris Halios-Lewis as a Non-Executive Director, effective April 24, 2025. The company has started the process of finding a suitable replacement and will update stakeholders in due course. This change in the board could impact BSA’s strategic direction and stakeholder relationships, as the company continues to strengthen its position in the telecommunications and smart energy sectors.

BSA Limited Announces Expiry of Listed Options

BSA Limited has announced that its listed options ‘BSAO’, with an exercise price of A$0.80, are set to expire on April 30, 2025. Option holders are advised to exercise their options by this date to avoid expiration. This announcement is significant for stakeholders as it impacts their investment decisions and reflects the company’s ongoing financial management strategies.

BSA Limited Announces Quotation of New Securities on ASX

BSA Limited has announced the quotation of 223,019 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of March 31, 2025. This move involves the issuance, transfer, or reclassification of securities resulting from options being exercised or convertible securities being converted. The announcement indicates a strategic step for BSA Limited in enhancing its market presence and liquidity, potentially impacting stakeholders by increasing the company’s visibility and investment appeal.

BSA Limited Announces Cessation of Performance Rights

BSA Limited announced the cessation of 451,050 performance rights due to the lapse of conditional rights, as the conditions were not met or became incapable of being satisfied. This announcement may impact stakeholders by altering the company’s issued capital structure, potentially affecting market perceptions and investor confidence.

BSA Limited Faces Operational Shift After Losing nbn Contract

BSA Limited announced that it was not successful in securing the new nbn Field Module contract, which will lead to a decline in work orders starting May 2025, with a complete stop by mid-July 2025. As a result, BSA expects to incur restructuring costs of approximately $6.5 million and a cash flow impact of $10 million, prompting the company to explore strategic options to mitigate financial and operational impacts.