BSA Limited (AU:BSA)
ASX:BSA
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BSA Limited
(Sydney:BSA)
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Rating:65Neutral
Price Target:
AU$0.39
▲(145.00% Upside)
Action:ReiteratedDate:03/24/26
The score is led by strong cash-flow improvement and an extremely low P/E valuation. This is tempered by weak profitability (notably lower gross margin and low net margin) and balance-sheet stability concerns from low equity levels, while technicals are mixed with a short-term pullback but a broader uptrend.
Positive Factors
Free Cash Flow Improvement
Free cash flow surged materially (FCL growth 676.77%), with operating cash flow to net income at 0.85 and free cash flow to net income near 1. This durable cash conversion improves funding for operations, repairs balance flexibility and reduces reliance on external financing over months.
Negative Factors
Thin Net Profit Margin
A net margin of ~1.3% gives a very slim buffer against cost rises or revenue dips. Persistently low bottom-line conversion limits internal reinvestment and dividend capacity, making earnings fragile and constraining sustainable growth over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Improvement
Free cash flow surged materially (FCL growth 676.77%), with operating cash flow to net income at 0.85 and free cash flow to net income near 1. This durable cash conversion improves funding for operations, repairs balance flexibility and reduces reliance on external financing over months.
Read all positive factors
BSA Limited (BSA) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$25.98M
Dividend YieldN/A
Average Volume (3M)192.24K
Price to Earnings (P/E)0.4
Beta (1Y)2.80
Revenue Growth12.34%
EPS Growth-66.13%
CountryAU
Employees234
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.08
Shares Outstanding75,300,260
10 Day Avg. Volume179,227
30 Day Avg. Volume192,244
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)0.83
Price to Sales (P/S)0.02
P/FCF Ratio0.19
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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 Prope...
How the Company Makes Money
null...
BSA Limited Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
50
Neutral
Cash Flow
70
Positive
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 286.98M | 255.46M | 239.67M | 244.10M | 418.35M |
| Gross Profit | 43.77M | 69.34M | 23.55M | 5.80M | 18.90M |
| EBITDA | 30.95M | 22.21M | 16.25M | -38.98M | 12.75M |
| Net Income | 3.73M | 10.63M | -2.96M | -42.24M | 9.00K |
Balance Sheet | |||||
| Total Assets | 46.60M | 59.28M | 62.52M | 127.63M | 125.20M |
| Cash, Cash Equivalents and Short-Term Investments | 23.97M | 1.57M | 1.96M | 13.44M | 12.82M |
| Total Debt | 1.57M | 10.78M | 9.94M | 22.30M | 9.22M |
| Total Liabilities | 39.65M | 57.67M | 72.12M | 134.72M | 101.09M |
| Stockholders Equity | 6.95M | 1.60M | -9.61M | -7.09M | 24.11M |
Cash Flow | |||||
| Free Cash Flow | 30.43M | -1.60M | -20.02M | -16.06M | -11.32M |
| Operating Cash Flow | 30.48M | -1.05M | -17.93M | -13.77M | -7.58M |
| Investing Cash Flow | -404.00K | -1.46M | 17.72M | -2.32M | -2.34M |
| Financing Cash Flow | -7.67M | 2.12M | -11.27M | 16.71M | -15.00M |
BSA Limited Technical Analysis
Neutral
0.16
Price Trends
0.31
Positive
0.22
Positive
0.17
Positive
Market Momentum
<0.01
Positive
47.98
Neutral
38.89
Neutral
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 0.16 is below the 20-day moving average (MA) of 0.38, below the 50-day MA of 0.31, and below the 200-day MA of 0.17, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 47.98 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 Neutral sentiment for AU:BSA.
BSA Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | AU$38.27M | 3.42 | 7.07% | ― | -9.21% | -42.37% | |
65 Neutral | AU$25.98M | 0.45 | 21.63% | ― | 12.34% | -66.13% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | AU$64.29M | 7.32 | 17.89% | 0.49% | -8.28% | 89.71% | |
46 Neutral | AU$15.58M | -1.03 | -160.73% | ― | -6.10% | 12.50% | |
43 Neutral | AU$9.14M | 4.84 | -5.43% | ― | -36.40% | -192.91% |
* Industrials Sector Average
AU:BSA
BSA Limited
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0.32
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0.21
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Synertec Corporation Limited
0.03
-0.01
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WestStar Industrial Ltd.
0.07
0.01
18.33%
BSA Limited Corporate Events
BSA calls April 2026 general meeting to approve new incentive plan and director performance rights
Mar 26, 2026
BSA Limited has called a general meeting of shareholders for 28 April 2026 in Chatswood, New South Wales, setting 26 April 2026 as the record date for voting eligibility. The company is urging shareholders to lodge proxy forms and review the accom...
BSA Limited Names David Geraghty as New Director Without Shareholding
Mar 4, 2026
BSA Limited has appointed Mr David Geraghty as a director effective 2 March 2026, and lodged an Initial Director’s Interest Notice with the ASX in accordance with listing rule 3.19A.1 and the Corporations Act. The filing notes that Geraghty ...
BSA Limited to Issue Up to 5 Million Performance Rights
Mar 1, 2026
BSA Limited has notified the market of a proposed issue of up to 5,000,000 performance rights, designated under ASX code BSAAF. The securities are to be issued as part of a placement or other type of issue, with a proposed issue date of 21 May 202...
BSA taps mining veteran David Geraghty as chairman to drive next growth phase
Mar 1, 2026
BSA Limited has appointed veteran mining executive David Geraghty as Non-Executive Chairman, signalling a more ambitious growth phase for the company. Geraghty brings more than three decades of experience, including 21 years in senior roles at Min...
BSA Limited Profit Holds Up as Balance Sheet Strengthens Despite Revenue Slump
Feb 20, 2026
BSA Limited reported a sharp 84% decline in revenue and other income from ordinary activities to $23.36 million for the half-year ended 31 December 2025, while profit after tax attributable to owners fell 19% to $6.34 million, and no dividends wer...
BSA Director Daniel Raihani Increases Indirect Shareholding via On-Market Trades
Feb 11, 2026
BSA Limited has reported a change in director Daniel Raihani’s indirect shareholding, with his beneficial interest held through 7 Enterprises Pty Ltd increasing via on-market purchases. The transaction involved the acquisition of 1,000,000 f...
BSA Updates Securities Trading Policy to Strengthen Governance
Feb 9, 2026
BSA Limited has announced that it has revised its Securities Trading Policy in accordance with ASX Listing Rule 12.10, reflecting an update to its corporate governance framework. The updated policy, authorised by the Board of Directors, will be ma...
BSA Limited to Issue Up to 5.5 Million Performance Rights
Feb 6, 2026
BSA Limited has announced a proposed issue of up to 5.5 million performance rights (ASX code: BSAAF), to be listed on the Australian Securities Exchange. The securities are to be issued via a placement or similar mechanism, with a proposed issue d...
BSA Board Targets Long-Term Value with Performance Rights Plan
Feb 6, 2026
BSA Limited has moved to deepen alignment between its board and shareholders by proposing the issue of 5.5 million performance rights to its directors for no cash consideration, subject to shareholder approval. The rights, allocated across three t...
BSA Limited Announces Departure of Director Paul Heick With No Related Security Interests
Jan 30, 2026
BSA Limited has announced that director Paul Heick ceased to be a director of the company effective 26 January 2026, as disclosed under ASX listing rule 3.19A.3 and the Corporations Act. The filing confirms that Heick held no relevant interests in...
BSA Limited Announces Departure of Director Warwick Sauer
Jan 30, 2026
BSA Limited has announced that director Warwick Sauer has ceased to be a director of the company as of 26 January 2026. In his final director’s interest notice to the ASX, Sauer disclosed that he holds 466 ordinary shares in BSA and has no a...
BSA Delivers Profit and Strong Margins Amid Sharp Revenue Decline After Contract Losses
Jan 30, 2026
BSA Limited reported second-quarter FY2026 revenue of $5.3 million and EBITDA of $0.9 million, translating to a 16.4% EBITDA margin, as the company completed a major restructuring that reduced headcount from about 150 to 40 and sharpened its focus...
BSA Limited Appoints New Director Piers Lewis and Discloses Indirect Shareholding
Jan 27, 2026
BSA Limited has appointed Piers Lewis as a director effective 23 January 2026. An initial director’s interest notice lodged with the ASX shows Lewis holds no BSA shares directly, but has an indirect interest in 122,636 ordinary shares throug...
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.