Butn Limited (AU:BTN)
ASX:BTN
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Butn Limited
(Sydney:BTN)
Select Model
Select Model
Rating:41Neutral
Price Target:
AU$0.02
▼(-70.00% Downside)
Action:ReiteratedDate:04/11/26
The score is driven primarily by weak financial performance (sharp revenue decline, high leverage, and weak cash flow quality). Technicals also weigh on the rating with a clear downtrend and negative momentum. Valuation provides limited support because the negative P/E reflects ongoing losses and dividend yield is unavailable.
Positive Factors
B2B working-capital business model
A focused B2B working-capital model targets persistent SME cash-flow needs, creating repeat demand for invoice and trade finance. Over 2-6 months this structural demand supports recurring fee and financing volumes, fosters long-term client relationships and high customer stickiness.
Negative Factors
Severe revenue contraction
A near-total revenue drop undermines scale economics: fee receipts and financing volume both shrink, fixed costs become harder to cover, and the ability to cross-sell or retain clients weakens. Recovery could be slow and materially impair medium-term profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
B2B working-capital business model
A focused B2B working-capital model targets persistent SME cash-flow needs, creating repeat demand for invoice and trade finance. Over 2-6 months this structural demand supports recurring fee and financing volumes, fosters long-term client relationships and high customer stickiness.
Read all positive factors
Butn Limited (BTN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$9.53M
Dividend YieldN/A
Average Volume (3M)74.58K
Price to Earnings (P/E)―
Beta (1Y)0.70
Revenue Growth8.28%
EPS Growth84.45%
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 against business invoices and trade receivables. Key revenue streams typically include: (1) fees charged for arranging or providing invoice finance/trade finance facilities (e.g., ...
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
Negative
0.08
Price Trends
0.04
Negative
0.06
Negative
0.08
Negative
Market Momentum
>-0.01
Positive
10.64
Positive
63.49
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 0.08 is above the 20-day moving average (MA) of 0.04, above the 50-day MA of 0.04, and below the 200-day MA of 0.08, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 10.64 is Positive, neither overbought nor oversold. The STOCH value of 63.49 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
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% | |
65 Neutral | AU$41.45M | -179.71 | 2.15% | 4.27% | -6.67% | 22.09% | |
58 Neutral | AU$81.16M | 3.91 | 24.31% | ― | 7.92% | ― | |
52 Neutral | AU$96.19M | 2.59 | 23.10% | ― | -0.51% | ― | |
44 Neutral | AU$33.47M | -2.58 | -19.44% | ― | -2.35% | 13.33% | |
43 Neutral | AU$68.27M | -1.10 | -43.76% | ― | -9.56% | -392.31% | |
41 Neutral | AU$9.53M | -3.94 | -36.66% | ― | 8.28% | 84.45% |
* Financial Sector Average
AU:BTN
Butn Limited
0.03
-0.08
-75.00%
AU:HMY
Harmoney Corp Ltd
0.78
0.33
73.33%
AU:WZR
Wisr Ltd.
0.02
-0.01
-36.67%
AU:PNC
Pioneer Credit Ltd
0.61
0.22
59.21%
AU:EPY
EarlyPay Limited
0.16
-0.05
-23.81%
AU:MME
MoneyMe Ltd.
0.08
-0.04
-30.00%
Butn Limited Corporate Events
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...
Butn Director Rael Ross Updates Holding After Option Expiry
Feb 27, 2026
Butn Limited has disclosed a change in director Rael Ross’s interests following the expiry of a tranche of unlisted options. Ross previously held 1.3 million unlisted fully vested options exercisable at $0.50 per option, which expired on 26 ...
Butn Limited Options Lapse After Expiry, Trimming Potential Dilution
Feb 27, 2026
Butn Limited has announced the cessation of 2.6 million options, designated BTNAD and exercisable at $0.50, which have expired without being exercised or converted. The expiry reduces the pool of outstanding options but does not alter the company&...
Butn Issues 471,687 Unquoted Performance Rights Under Incentive Scheme
Feb 26, 2026
Butn Limited has notified the market of the issue of 471,687 new performance rights, expiring on 1 January 2027, under its employee incentive scheme. The securities are unquoted and will not be listed on the ASX, reflecting the company’s con...
Butn issues 483,000 new shares and lodges cleansing notice
Feb 25, 2026
Butn Limited has issued 483,000 fully paid ordinary shares, expanding its share capital in line with a recent Appendix 2A filing. The company has also lodged a cleansing notice confirming that the shares were issued without a full prospectus under...
Butn Seeks ASX Quotation for New Employee Incentive Shares
Feb 25, 2026
Butn Limited has applied to the ASX for quotation of 483,000 new ordinary fully paid shares issued under its Employee Incentive Plan. The securities, dated 25 February 2026, expand the company’s quoted capital base and reflect the ongoing us...
Butn posts record revenue and originations as platform growth accelerates
Feb 22, 2026
Butn Limited reported its fifth consecutive half of revenue growth, with first-half FY26 revenue rising 15% to a record $8.2 million on stable 3.0% margins and originations increasing 14% to $267.3 million. Platform originations surged 38% to $113...
Butn Posts Record Revenue but Loss as New Funding Facility and Board Refresh Underpin Growth Plan
Feb 22, 2026
Butn Limited reported record half-year revenue of $8.2 million for the six months to 31 December 2025, up 15% year-on-year, driven by strong growth in platform originations that climbed 38% to $113.9 million and now represent more than 40% of tota...
Butn posts revenue growth but slips to half-year loss, keeps dividends on hold
Feb 22, 2026
Butn Limited reported a 15% increase in revenue from ordinary activities to $8.19 million for the half year ended 31 December 2025, compared with the prior corresponding period. Despite the top-line growth, the company swung to a net loss after ta...
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.