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Butn Limited (AU:BTN)
ASX:BTN
Australian Market
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Butn Limited (BTN) AI Stock Analysis

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AU:BTN

Butn Limited

(Sydney:BTN)

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Underperform 38 (OpenAI - 4o)
Rating:38Underperform
Price Target:
AU$0.00
▼(-100.00% Downside)
Butn Limited's overall stock score is primarily impacted by its poor financial performance, characterized by declining revenues and high leverage. The technical analysis further indicates bearish momentum, and the valuation is unattractive due to negative earnings. These factors collectively result in a low overall stock score.

Butn Limited (BTN) vs. iShares MSCI Australia ETF (EWA)

Butn Limited Business Overview & Revenue Model

Company DescriptionButn 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 solution for businesses to claim their commissions instantly; Butn X, a solution that helps customers to get paid as soon as the goods and services are delivered with advanced payments; Butn Terms, a solution that enables organizations to outsource their accounts receivable; and Butn Plus, a solution that enables businesses to avail secured business loans. It offers factoring, supply chain finance, and commission advancement services. The company was founded in 2015 and is headquartered in Caulfield North, Australia.
How the Company Makes MoneyButn Limited generates revenue primarily through fees and interest associated with its financing products. The company charges a percentage of the invoice amount as a fee for its invoice financing services, which provides immediate liquidity to SMEs by allowing them to access cash tied up in unpaid invoices. Additionally, Butn earns interest on the funds it provides to clients, further contributing to its revenue. Key revenue streams include transaction fees, service fees for providing financial services, and interest income from financing agreements. Butn also benefits from partnerships with businesses and financial institutions that facilitate access to a broader customer base, enhancing its market reach and revenue potential.

Butn Limited Financial Statement Overview

Summary
Butn Limited faces significant financial challenges, with declining revenues, high leverage, and weak cash flow management. The company needs to address its profitability and leverage issues to improve its financial health and stability.
Income Statement
35
Negative
Butn Limited has experienced significant revenue decline, with a drastic drop in revenue growth rate to -95.54% in the latest period. The company has consistently reported negative net profit margins, indicating ongoing profitability challenges. While the EBITDA margin has improved to 17.41%, the overall profitability remains weak.
Balance Sheet
40
Negative
The company's balance sheet shows high leverage, with a debt-to-equity ratio of 7.49, indicating significant reliance on debt financing. The return on equity is negative, reflecting losses and poor returns for shareholders. The equity ratio is low, suggesting limited equity buffer against liabilities.
Cash Flow
30
Negative
Butn Limited's cash flow position is concerning, with negative free cash flow growth and a low operating cash flow to net income ratio of 0.018. The free cash flow to net income ratio is moderate at 0.55, but overall cash flow management appears weak.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue8.12M333.85K13.49M11.85M5.42M4.55M
Gross Profit8.12M-7.87M13.49M11.87M5.60M1.33M
EBITDA5.81M5.81M-829.98K1.72M-3.64M-2.13M
Net Income-2.66M-2.66M-12.33M-6.53M-8.66M-5.26M
Balance Sheet
Total Assets107.54M107.54M91.27M98.98M77.82M53.30M
Cash, Cash Equivalents and Short-Term Investments20.32M20.32M13.36M14.67M15.78M15.52M
Total Debt91.00M91.00M79.73M79.52M56.35M46.76M
Total Liabilities95.39M95.39M83.16M83.34M59.80M49.70M
Stockholders Equity12.14M12.14M8.11M15.64M18.02M3.60M
Cash Flow
Free Cash Flow1.74M966.21K-3.16M-1.83M-7.09M-4.58M
Operating Cash Flow1.74M1.74M-2.36M-673.74K-3.85M-2.43M
Investing Cash Flow-14.79M-14.79M-2.64M-26.09M-29.48M-3.04M
Financing Cash Flow15.85M15.85M3.65M25.61M33.60M11.06M

Butn Limited Technical Analysis

Technical Analysis Sentiment
Negative
Last Price0.09
Price Trends
50DMA
0.10
Negative
100DMA
0.10
Negative
200DMA
0.10
Negative
Market Momentum
MACD
>-0.01
Positive
RSI
11.08
Positive
STOCH
57.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BTN, the sentiment is Negative. The current price of 0.09 is below the 20-day moving average (MA) of 0.10, below the 50-day MA of 0.10, and below the 200-day MA of 0.10, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 11.08 is Positive, neither overbought nor oversold. The STOCH value of 57.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:BTN.

Butn Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (68)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
68
Neutral
$18.00B11.429.92%3.81%9.73%1.22%
67
Neutral
€97.81M17.3815.56%7.92%
65
Neutral
AU$56.68M20.003.91%3.67%-6.67%22.09%
58
Neutral
AU$104.14M15.2012.72%-0.51%
42
Neutral
AU$47.85M-6.54-19.44%-2.35%13.33%
42
Neutral
AU$89.11M-1.32-42.59%-9.56%-392.31%
38
Underperform
AU$34.60M-9.58-26.29%8.28%84.45%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:BTN
Butn Limited
0.09
0.03
50.00%
AU:HMY
Harmoney Corp Ltd
0.91
0.55
151.39%
AU:WZR
Wisr Ltd.
0.03
0.00
0.00%
AU:PNC
Pioneer Credit Ltd
0.68
0.04
6.25%
AU:EPY
EarlyPay Limited
0.22
0.05
29.41%
AU:MME
MoneyMe Ltd.
0.12
0.00
0.00%

Butn Limited Corporate Events

Butn Limited Discloses Long Equity Derivative Positions
Oct 30, 2025

Butn Limited has announced the receipt of a notice from Regal Funds Management Asia Pte Limited concerning long equity derivative positions as per the Australian Takeovers Panel Guidance Note 20. This disclosure highlights the transparency in Butn’s financial dealings and may impact its market positioning by providing stakeholders with insights into equity derivative positions held by investment managers. The announcement underscores the importance of disclosure in maintaining market integrity and could influence investor perceptions and decisions.

Butn Limited Converts Performance Rights into Ordinary Shares
Oct 28, 2025

Butn Limited has announced the conversion of 300,000 unlisted performance rights into fully paid ordinary shares. This move signifies the company’s compliance with relevant provisions of the Corporations Act and reflects its ongoing commitment to enhancing shareholder value. The issuance of these shares without disclosure under Part 6D.2 of the Corporations Act suggests a strategic effort to strengthen its financial position and market presence.

Butn Limited Announces Quotation of New Securities on ASX
Oct 28, 2025

Butn Limited has announced the quotation of 300,000 ordinary fully paid securities on the Australian Securities Exchange (ASX) as of October 28, 2025. This move is part of the company’s strategic efforts to enhance its market presence and provide additional value to its stakeholders by expanding its capital base.

Butn Limited Announces 2025 AGM Details
Oct 1, 2025

Butn Limited has announced its 2025 Annual General Meeting (AGM) will be held on November 20, 2025, at its office in Balaclava, Victoria. Shareholders are encouraged to attend in person and submit their voting forms in advance. The company will not send physical copies of the meeting notice unless requested, with documents available online.

Butn Limited Announces Change of Business Address
Oct 1, 2025

Butn Limited has announced a change in its principal place of business to Suite 22/3rd Floor, 21-23 William St, Balaclava, VIC 3183. This move is part of the company’s ongoing efforts to streamline its operations and maintain its position as a leading B2B funder in Australia. The change is expected to enhance Butn’s operational efficiency and support its mission to provide quick and effective cashflow solutions to SMEs, potentially impacting its stakeholders positively.

Butn Limited Announces Cessation of Securities
Oct 1, 2025

Butn Limited announced the cessation of 1,750,000 options expiring on November 14, 2028, due to the lapse of conditional rights as the conditions were not met. This cessation may impact the company’s capital structure and could influence investor perceptions regarding the company’s future financial strategies.

Butn Limited Director Acquires Shares, Signaling Strategic Interest
Sep 22, 2025

Butn Limited announced a change in the director’s interest, with Stanley Gordon acquiring 150,000 ordinary fully paid shares through an on-market trade valued at $16,500. This acquisition reflects a strategic move that may influence the company’s governance and stakeholder confidence, potentially impacting its market positioning.

Butn Limited Announces 2025 AGM Date and Director Nomination Deadline
Sep 17, 2025

Butn Limited announced that its 2025 Annual General Meeting will be held on November 20, 2025. Shareholders will receive further details in a separate notice, and director nominations must be submitted by October 2, 2025. This announcement is part of Butn’s ongoing commitment to transparency and governance, potentially impacting shareholder engagement and corporate governance practices.

Butn Limited Appoints New Director, Stanley Gordon
Sep 17, 2025

Butn Limited announced the appointment of Stanley Gordon as a new director, effective September 17, 2025. The notice indicates that Mr. Gordon currently holds no securities or interests in the company, highlighting a fresh leadership perspective. This appointment could potentially influence the company’s strategic direction and strengthen its governance structure, impacting stakeholders positively.

Butn Limited Announces Director Change and Securities Disclosure
Sep 17, 2025

Butn Limited announced the cessation of Walter Rapoport as a director, effective September 17, 2025. The company disclosed Rapoport’s interests in securities, including ordinary shares and unlisted options, as part of regulatory requirements. This change in directorship may influence the company’s strategic direction and stakeholder relations, given Rapoport’s significant holdings in the company.

Butn Limited Appoints New Company Secretary
Sep 12, 2025

Butn Limited has announced the appointment of Michael Carruthers as the new Company Secretary, following the resignation of Dean Berelowitz, who will now focus on his role as Head of Finance. Carruthers brings over a decade of experience in accounting and company secretarial services for ASX-listed companies, enhancing Butn’s operational capabilities and ensuring smooth communication with the ASX. This change is expected to bolster Butn’s corporate governance and support its strategic initiatives in the B2B funding industry.

Butn Limited Issues Unquoted Options to Bolster Financial Position
Aug 27, 2025

Butn Limited announced the issuance of 500,000 unquoted options set to expire on August 25, 2028, with an exercise price of $0.12. This issuance is part of a previously announced transaction, and the options are not intended to be quoted on the ASX, indicating a strategic move to strengthen its financial position and potentially reward stakeholders.

Butn Limited Announces Proposed Securities Issue
Aug 25, 2025

Butn Limited has announced a proposed issue of securities, specifically 500,000 options set to expire on August 25, 2028, with an exercise price of $0.12. This move is part of a placement or other type of issue, indicating strategic efforts to raise capital and potentially expand its market presence, which could have significant implications for its stakeholders and overall industry positioning.

Butn Limited Affirms Commitment to Corporate Governance Standards
Aug 25, 2025

Butn Limited has released its Corporate Governance Statement, detailing its compliance with the ASX Corporate Governance Principles and Recommendations 4th Edition. The company has implemented a comprehensive governance framework, including board and management roles, diversity policies, and performance evaluations. While the company complies with most recommendations, it partially complies with the nomination committee structure due to its current size and activity level. The announcement underscores Butn’s commitment to maintaining robust governance practices, which is crucial for its operational integrity and stakeholder confidence.

Butn Limited Releases 2025 Corporate Governance Statement
Aug 25, 2025

Butn Limited has released its corporate governance statement for the financial year ending 30 June 2025, which is available on their website. The statement, approved by the board, outlines the company’s adherence to the ASX Corporate Governance Council’s principles and recommendations, detailing the roles and responsibilities of the board and management, as well as the nomination and remuneration processes.

Butn Limited Achieves Record Revenue and Positive Cash Flow in FY25
Aug 25, 2025

Butn Limited reported significant financial growth for the fiscal year 2025, achieving record revenue of $14.6 million, an 8% increase from the previous year, and a maiden positive operating cash flow of $1.7 million. The company also saw a 19% rise in platform originations, underscoring its strong position in the SME community. Strategic developments included launching a Retail Private Credit Fund, entering the APAC crypto-backed lending market, and securing a $100 million debt facility to support scalable growth. These achievements reflect Butn’s operational discipline and strategic focus, positioning it for continued growth and value creation for shareholders.

Butn Limited Releases 2025 Financial Statements
Aug 25, 2025

Butn Limited, an Australian company, has released its financial statements for the year ending 30 June 2025. The report includes comprehensive financial data such as profit or loss statements, financial position, and cash flows, providing insights into the company’s financial health and operational performance.

Butn Limited Reports Improved Financial Performance for FY25
Aug 25, 2025

Butn Limited has reported its financial results for the year ending 30 June 2025, showing an 8% increase in revenue from ordinary activities to $14.606 million and a significant reduction in net loss by 78% compared to the previous year. Despite the improved financial performance, the company has decided not to declare any dividends for the current or previous periods. The net tangible asset per share increased by 24%, reflecting a stronger financial position. These results highlight Butn’s ongoing efforts to enhance its financial stability and operational efficiency, which could positively impact its market positioning and stakeholder confidence.

Butn Limited Director Increases Stake Through Share Placement
Aug 11, 2025

Butn Limited announced a change in the director’s interest, with Cameron Petricevic acquiring an additional 250,000 ordinary fully paid shares through a share placement. This change reflects the director’s increased stake in the company, potentially signaling confidence in Butn Limited’s future prospects and impacting its market positioning.

Butn Limited Issues Over 30 Million New Shares to Boost Funding
Aug 8, 2025

Butn Limited has announced the issuance of 30,413,858 new shares without disclosure to investors, in accordance with section 708A(5) of the Corporations Act. This move indicates Butn’s compliance with relevant legal provisions and suggests a strategic effort to enhance its financial capabilities, potentially impacting its market positioning and stakeholders by strengthening its funding capacity.

Butn Limited Announces Quotation of New Securities on ASX
Aug 8, 2025

Butn Limited announced the quotation of 30,413,858 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of August 8, 2025. This move is part of previously announced transactions, potentially enhancing the company’s market presence and liquidity, which could have positive implications for stakeholders.

Butn Limited Issues 325,000 New Shares to Support B2B Funding Operations
Aug 4, 2025

Butn Limited has issued 325,000 new shares without disclosure to investors, in accordance with section 708A(5) of the Corporations Act. This move reflects Butn’s compliance with relevant legal provisions and indicates no undisclosed information that would impact stakeholders. The issuance of new shares is part of Butn’s ongoing efforts to support its funding operations and maintain its position in the B2B funding industry.

Butn Limited Announces Quotation of New Securities on ASX
Aug 4, 2025

Butn Limited has announced the quotation of 325,000 ordinary fully paid securities on the Australian Securities Exchange (ASX) with the security code BTN, effective from July 1, 2025. This move is part of the company’s strategic efforts to enhance its market presence and provide more liquidity options for its stakeholders, potentially impacting its operational dynamics and market positioning positively.

Butn Limited Issues Unquoted Options Expiring in 2028
Aug 4, 2025

Butn Limited has announced the issuance of 8,333,333 unquoted options set to expire on August 1, 2028, with an exercise price of $0.12. This issuance, part of a previously announced transaction, is not intended to be quoted on the ASX, potentially impacting the company’s financial strategies and stakeholder interests.

Butn Limited Announces Proposed Securities Issue
Aug 1, 2025

Butn Limited has announced a proposed issue of securities, specifically options expiring on August 1, 2028, with an exercise price of $0.12. The total number of securities to be issued is 8,333,333, and the proposed issue date is August 1, 2025. This move is part of a placement or other type of issue, and the company has applied for the quotation of these securities on the ASX. The announcement reflects Butn Limited’s strategic financial maneuvering to potentially enhance its market position and operational capabilities.

Butn Limited Cancels Previous Securities Announcement, Updates to Unquoted Securities
Aug 1, 2025

Butn Limited has announced the cancellation of a previous securities issuance announcement, updating it to unquoted securities. This move indicates a strategic adjustment in their financial operations, potentially impacting their market positioning and stakeholder interests by altering the nature of their securities offering.

Butn Limited Reports Successful General Meeting Outcomes
Aug 1, 2025

Butn Limited announced the results of its General Meeting held on August 1, 2025, where all resolutions were successfully passed by poll. The resolutions included the ratification and approval of share issuances and facility options, indicating strong shareholder support for the company’s strategic initiatives. This outcome is likely to positively impact Butn’s operational capabilities and market positioning, reinforcing its role as a key player in the SME funding industry.

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.Date of analysis: Nov 01, 2025