Butn Limited (AU:BTN)
ASX:BTN
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Butn Limited
(Sydney:BTN)
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Rating:38Underperform
Price Target:
AU$0.02
▼(-80.00% Downside)
Action:Reiterated
Date:05/30/26
The score is primarily constrained by weak financial performance (severe revenue decline, ongoing losses, high leverage, and weak cash flow metrics). Technical indicators also show a strong downtrend (below all major moving averages with negative MACD). Valuation provides only limited offset due to negative earnings (negative P/E) and no dividend yield data.
Positive Factors
B2B working-capital business model
A focused B2B receivables-finance model creates recurring fee and financing revenue tied to invoice volume. This structural cash-flow intermediation can produce steady origination-driven revenue streams and deep customer relationships if underwriting and distribution scale sustainably.
Negative Factors
Severe recent revenue contraction
A near-total revenue collapse undermines the core origination engine that funds fees and interest. Such a dramatic drop weakens unit economics, limits ability to cover fixed costs, and makes scale-dependent margin improvements fragile until originations materially recover.
Read all positive and negative factors
Positive Factors
Negative Factors
B2B working-capital business model
A focused B2B receivables-finance model creates recurring fee and financing revenue tied to invoice volume. This structural cash-flow intermediation can produce steady origination-driven revenue streams and deep customer relationships if underwriting and distribution scale sustainably.
Read all positive factors
Butn Limited (BTN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$6.48M
Dividend YieldN/A
Average Volume (3M)74.58K
Price to Earnings (P/E)―
Beta (1Y)0.40
Revenue Growth13.59%
EPS Growth66.07%
CountryAU
EmployeesN/A
SectorFinancial
Sector Strength70
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)-0.01
Shares Outstanding381,391,940
10 Day Avg. Volume52,483
30 Day Avg. Volume74,580
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)2.66
Price to Sales (P/S)96.68
P/FCF Ratio33.41
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
Butn Limited Business Overview & Revenue Model
Company Description
Butn Limited provides transactional funding to small and medium enterprises in Australia. The company's products include Butn Pay, a solution that allows organizations to pay for goods and services, and choose the repayment terms; Butn Now, a solu...
How the Company Makes Money
Butn Limited makes money primarily by providing short-term funding to businesses against invoices/receivables and charging fees for that funding. Key revenue streams include: (1) financing fees/discounts earned when Butn advances funds to a custom...
Butn Limited Financial Statement Overview
Summary
Income Statement
35
Negative
Balance Sheet
40
Negative
Cash Flow
30
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.48M | 333.85K | 13.49M | 11.85M | 5.42M | 4.55M |
| Gross Profit | 4.30M | -7.87M | 13.49M | 11.87M | 5.60M | 1.33M |
| EBITDA | 6.31M | 5.81M | -829.98K | 1.72M | -3.64M | -2.13M |
| Net Income | -4.72M | -2.66M | -12.33M | -6.53M | -8.66M | -5.26M |
Balance Sheet | ||||||
| Total Assets | 103.31M | 107.54M | 91.27M | 98.98M | 77.82M | 53.30M |
| Cash, Cash Equivalents and Short-Term Investments | 31.93M | 20.32M | 13.36M | 14.67M | 15.78M | 15.52M |
| Total Debt | 85.80M | 91.00M | 79.73M | 79.52M | 56.35M | 46.76M |
| Total Liabilities | 89.72M | 95.39M | 83.16M | 83.34M | 59.80M | 49.70M |
| Stockholders Equity | 13.60M | 12.14M | 8.11M | 15.64M | 18.02M | 3.60M |
Cash Flow | ||||||
| Free Cash Flow | 913.94K | 966.21K | -3.16M | -1.83M | -7.09M | -4.58M |
| Operating Cash Flow | 913.94K | 1.74M | -2.36M | -673.74K | -3.85M | -2.43M |
| Investing Cash Flow | -2.61M | -14.79M | -2.64M | -26.09M | -29.48M | -3.04M |
| Financing Cash Flow | 12.58M | 15.85M | 3.65M | 25.61M | 33.60M | 11.06M |
Butn Limited Technical Analysis
Neutral
0.08
Price Trends
0.03
Negative
0.04
Negative
0.07
Negative
Market Momentum
>-0.01
Negative
45.20
Neutral
25.64
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BTN, the sentiment is Neutral. The current price of 0.08 is above the 20-day moving average (MA) of 0.02, above the 50-day MA of 0.03, and above the 200-day MA of 0.07, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 45.20 is Neutral, neither overbought nor oversold. The STOCH value of 25.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:BTN.
Butn Limited Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
58 Neutral | AU$83.77M | 8.81 | 23.96% | ― | 10.39% | ― | |
53 Neutral | AU$30.64M | 21.08 | 2.15% | 4.27% | -5.15% | -9.52% | |
52 Neutral | AU$95.40M | 6.28 | 23.10% | ― | 7.36% | ― | |
43 Neutral | AU$68.27M | -1.36 | -43.76% | ― | 17.04% | -121.43% | |
41 Neutral | AU$38.77M | -3.62 | -26.13% | ― | 7.47% | 5.97% | |
38 Underperform | AU$6.48M | -1.35 | -36.66% | ― | 13.59% | 66.07% |
* Financial Sector Average
AU:BTN
Butn Limited
0.02
-0.08
-83.00%
AU:HMY
Harmoney Corp Ltd
0.81
0.23
38.46%
AU:WZR
Wisr Ltd.
0.02
>-0.01
-26.67%
AU:PNC
Pioneer Credit Ltd
0.60
0.11
22.45%
AU:EPY
EarlyPay Limited
0.13
-0.08
-37.50%
AU:MME
MoneyMe Ltd.
0.08
-0.06
-40.00%
Butn Limited Corporate Events
Butn Says No Undisclosed News Behind Share Price Moves
May 29, 2026
Butn Limited has responded to an ASX price query, stating it is not aware of any undisclosed information that could explain recent trading activity in its securities and has no alternative explanation for the share price movements. The company con...
Butn strikes capital-light supply chain finance deal with top global bank
Apr 27, 2026
Butn Limited has signed a memorandum of understanding with a top-40 global bank to develop buyer-led supply chain finance programs, initially targeting the Australian market. Under the arrangement, the bank will provide customers, funding and cred...
Butn posts record originations and revenue as platform growth accelerates
Apr 20, 2026
Australian B2B funder Butn Limited, which specialises in transactional working capital solutions delivered via embedded funding technology for SMEs, is deepening its presence across new industries and customer segments. Its platform model focuses ...
Butn Director Rael Ross Increases Direct Shareholding via On-Market Purchase
Apr 13, 2026
Butn Limited has disclosed a change in the relevant interests of director Rael Ross, following an on-market purchase of additional ordinary fully paid shares. Ross acquired 180,000 shares for $4,500, increasing his direct holding while his substan...
Butn director Stanley Gordon lifts stake with on-market share purchase
Apr 13, 2026
Butn Limited has disclosed a change in the shareholding of director Stanley Gordon, who increased his direct holdings through an on-market trade. On 10 April 2026, Gordon acquired 400,000 ordinary fully paid shares for $10,000, lifting his stake f...
Butn Director Cameron Petricevic Increases Indirect Shareholding via On-Market Purchase
Apr 13, 2026
Butn Limited has disclosed a change in the shareholding of director Cameron Petricevic, who holds his interest indirectly through TTOR Pty Ltd as beneficiary. The notice, lodged under ASX listing rule 3.19A.2, outlines adjustments to his relevant ...
Butn cancels 1.2 million shares under minimum holding buy-back
Apr 1, 2026
Butn Limited has announced the cessation of 1,185,630 ordinary fully paid shares on 1 April 2026. The cancellation of these securities was carried out under a minimum holding buy-back, which is typically used to streamline the share register by re...
Butn trims share register with completion of unmarketable parcel buyback
Apr 1, 2026
Butn Limited has completed an unmarketable parcel buyback of its ordinary shares, targeting holders with less than a marketable parcel as at 12 February 2026. The fintech lender to SMEs operates in the B2B funding space, providing transactional wo...
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.