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Frontier Energy Limited
(Sydney:FHE)
Frontier Energy Limited (FHE) vs. iShares MSCI Australia ETF (EWA)
Frontier Energy Limited Business Overview & Revenue Model
Frontier Energy Limited Financial Statement Overview
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -15.54K | -95.00K | -86.36K | -76.68K | -3.00K |
| EBITDA | -4.45M | -18.50M | 3.04M | -6.04M | -3.15M |
| Net Income | -5.17M | -18.13M | 2.05M | -5.52M | -2.50M |
Balance Sheet | |||||
| Total Assets | 90.43M | 83.41M | 89.08M | 31.94M | 3.16M |
| Cash, Cash Equivalents and Short-Term Investments | 5.59M | 14.33M | 11.57M | 13.46M | 541.35K |
| Total Debt | 0.00 | 57.72K | 95.36K | 175.28K | 0.00 |
| Total Liabilities | 5.64M | 2.14M | 5.64M | 5.35M | 1.02M |
| Stockholders Equity | 85.51M | 81.99M | 84.16M | 23.35M | 1.60M |
Cash Flow | |||||
| Free Cash Flow | -11.98M | -13.02M | -9.66M | -8.87M | -2.28M |
| Operating Cash Flow | -2.21M | -2.77M | -2.56M | -4.87M | -2.14M |
| Investing Cash Flow | -17.49M | -10.07M | -9.33M | -3.69M | -145.41K |
| Financing Cash Flow | 10.95M | 15.59M | 10.17M | 21.49M | 2.11M |
Frontier Energy Limited Technical Analysis
Frontier Energy Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
51 Neutral | AU$886.93M | -66.25 | -15.51% | ― | ― | -90.48% | |
49 Neutral | AU$559.11M | -25.64 | -140.97% | ― | ― | ― | |
47 Neutral | AU$126.58M | -30.41 | -21.39% | ― | ― | -280.00% | |
46 Neutral | AU$385.45M | -22.06 | -11.04% | ― | ― | 50.26% | |
45 Neutral | AU$76.67M | -2.78 | -18.67% | ― | ― | 53.31% | |
44 Neutral | AU$76.41M | -7.11 | -287.69% | ― | 24.42% | -18.42% |
Frontier Energy Limited Corporate Events
Frontier Energy Limited has released its FY2025 Corporate Governance Statement, outlining a governance framework that the board regularly reviews and updates in line with legal, regulatory and business changes. The statement confirms compliance with key ASX governance recommendations, including a formal board charter and robust director vetting processes, underscoring the company’s focus on disciplined oversight and transparency for investors.
The board charter clearly defines the roles and responsibilities of directors, the chair and the company secretary, sets out matters reserved for the board, and governs board committees and access to information. Frontier also details the checks it undertakes before appointing directors or senior executives and its commitment to providing shareholders with all material information for director elections, reinforcing its efforts to maintain strong corporate accountability and shareholder confidence.
The most recent analyst rating on (AU:FHE) stock is a Sell with a A$0.22 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited has released its 2025 annual report, outlining its current corporate governance structure and key leadership appointments. The report highlights the company’s established listing on the ASX, its registered office in Perth, and the professional service providers that support its operations, including its share registry and external auditors.
These disclosures reinforce Frontier Energy’s formal corporate framework and regulatory compliance as a publicly traded entity. Investors and stakeholders gain clarity on the company’s leadership, oversight arrangements, and operational bases, which underpin its accountability and positioning within Australia’s energy market.
The most recent analyst rating on (AU:FHE) stock is a Sell with a A$0.22 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited has reported a significantly wider full-year loss for the 12 months to 31 December 2025, with the loss attributable to owners rising 71% to $5.17 million compared with the prior year. The company generated no revenue from ordinary activities during the period, did not pay or declare any dividends, and saw its net tangible assets per share edge down slightly from 15.8 cents to 15.5 cents, underscoring the capital-consuming nature of its current stage and the absence of near-term cash returns for shareholders.
The most recent analyst rating on (AU:FHE) stock is a Sell with a A$0.22 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy has appointed veteran energy executive Jamie Cullen, former chief executive of Pacific Energy, as Executive Chairman as it advances funding for the first stage of its Waroona Project in Western Australia. Cullen, who built Pacific Energy into Australia’s largest remote power specialist and led major refinancing and privatisation transactions, is expected to strengthen Frontier’s project development, financing and execution capabilities as the company moves toward a final investment decision and construction.
The board reshuffle will see current chairman Guy Chalkley and executive director Grant Davey transition to non‑executive roles, while executive director Chris Bath steps down from the board but remains chief financial officer. The changes underscore Frontier’s shift into a more execution‑focused phase, with leadership experience in large‑scale project financing and delivery likely to be closely watched by investors and other stakeholders as Western Australia accelerates its transition away from coal‑fired generation.
The most recent analyst rating on (AU:FHE) stock is a Sell with a A$0.22 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited has notified the ASX of a proposed issue of unquoted options as part of a placement or other capital-related initiative. The company plans to issue up to 20 million unquoted options across several new classes, with a proposed issue date of 2 March 2026.
The move signals Frontier Energy’s continued use of equity-linked instruments to support its corporate and funding strategy. While specific allocation and use-of-proceeds details are not disclosed, the sizeable option issuance may affect capital structure and align incentives for participants in the company’s future growth.
The most recent analyst rating on (AU:FHE) stock is a Sell with a A$0.22 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy has secured 88.06 MW of peak capacity credits for Stage One of its Waroona Project for the 2027–28 Reserve Capacity Cycle at a price of $360,700 per megawatt, locking in roughly $32 million per year in fixed capacity revenue for the first five years, or about $160 million in total, before energy sales and other income. Updated independent price forecasts indicate average annual revenue of $72.5 million and EBITDA of $61.4 million over the first five years of operation, supported by record high wholesale electricity prices in Western Australia and particularly strong peak-period prices, bolstering the project’s debt financing prospects; the company has advanced its debt workstreams, including appointing an independent technical engineer and progressing key contracts, and has raised $11.5 million in equity to complete financing and meet reserve capacity security requirements.
The most recent analyst rating on (AU:FHE) stock is a Sell with a A$0.22 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy has received an updated independent revenue forecast for Stage One of its Waroona Renewable Energy Project showing a significant uplift in projected earnings versus its 2024 Definitive Feasibility Study. The new Aurora Energy Research estimates put average annual revenue at A$72.5 million and EBITDA at A$61.4 million over the first five years of operations—an 11.5% revenue increase on prior DFS figures—driven by higher reserve capacity pricing, longer-duration battery-enabled peak power sales and stronger wholesale electricity prices in Western Australia. With around 48% of revenue underpinned by fixed-price reserve capacity and a five-year reserve capacity assignment providing about A$160 million in revenue certainty, the improved outlook is expected to strengthen the project’s bankability and support more favourable debt financing terms, as the company advances lender due diligence, appoints an independent technical engineer and finalises key equipment and EPC contracts.
The most recent analyst rating on (AU:FHE) stock is a Sell with a A$0.22 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited has disclosed a change in the equity interests of director Chris Bath, whose holdings are held indirectly through Chivington Pty Ltd and Bath Investments Pty Ltd. The company reported that 1,593,625 unquoted options previously held by Bath have lapsed as of 23 January 2026 because performance conditions were not met or became incapable of being satisfied, leaving his shareholding unchanged at 3,977,735 fully paid ordinary shares but reducing his total portfolio of long- and short-term KPI options. The adjustment reflects a significant reduction in Bath’s potential future equity-based remuneration and slightly lowers potential dilution from director options for existing shareholders, without involving any on-market transactions or cash consideration.
The most recent analyst rating on (AU:FHE) stock is a Sell with a A$0.22 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited has disclosed a change in director Grant Davey’s interests, confirming that his substantial shareholding in the company remains unchanged while certain incentive options have lapsed. The director disposed of 2,747,425 unquoted options after performance or vesting conditions were not met or became incapable of being satisfied, leaving him with 68,552,220 fully paid ordinary shares and a reduced pool of KPI and attaching options, a routine governance update that may marginally reduce potential future equity dilution but does not alter current control or capital structure.
The most recent analyst rating on (AU:FHE) stock is a Sell with a A$0.22 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited has notified the market that a total of 12,142,225 options on issue have lapsed after the conditions attached to these securities were not met or became incapable of being satisfied. The cessation, covering several classes of options expiring in 2027 and on various dates at various exercise prices, reduces the company’s pool of potential future equity dilution and slightly simplifies its capital structure, though it does not involve any immediate cash movement or change in issued shares for existing stakeholders.
The most recent analyst rating on (AU:FHE) stock is a Sell with a A$0.22 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited has disclosed a change in director Grant Davey’s indirect interest in the company’s securities, following shareholder approval at a general meeting held on 19 January 2026. Davey, through associated entities Davey Holdings (Aus) Pty Ltd and Davey Management (Aus) Pty Ltd, has acquired 16 million fully paid ordinary shares and 8 million unquoted attaching options for $4 million, increasing his holding to 68,552,220 shares and expanding his option portfolio with new options exercisable at $0.40 by January 2028. The transaction consolidates Davey’s position as a significant stakeholder and signals continued insider support for the company’s capital structure and long-term incentive arrangements, though it does not involve any disposal of existing securities.
The most recent analyst rating on (AU:FHE) stock is a Sell with a A$0.22 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited has issued 16 million new ordinary shares, as previously notified to the Australian Securities Exchange, under provisions allowing share issues without a full disclosure document. The company confirmed it remains compliant with its continuous disclosure and financial reporting obligations and stated there is no undisclosed price-sensitive information, signaling that the capital raising has been conducted within standard regulatory frameworks and without additional hidden risks for investors.
The most recent analyst rating on (AU:FHE) stock is a Sell with a A$0.22 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited reported that all resolutions presented to shareholders at its 19 January 2026 general meeting were approved by poll. The meeting ratified a prior share placement to non-related party investors, confirmed the agreement to issue attaching options to those placement participants, and approved the issue of shares and attaching options to related party Grant Davey, reinforcing the company’s recent capital-raising activities and board-endorsed funding structure.
The most recent analyst rating on (AU:FHE) stock is a Sell with a A$0.22 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited has notified the market that it will issue 8 million new unquoted options that will not be listed on the ASX, expanding its pool of unquoted equity securities. The issuance, formalised on 19 January 2026, forms part of previously announced transactions and represents a capital management move that may affect future dilution and incentive structures for existing stakeholders, although the options themselves will not be publicly traded.
The most recent analyst rating on (AU:FHE) stock is a Sell with a A$0.22 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited has applied to the ASX for quotation of 16 million new fully paid ordinary shares, to be traded under its existing ticker FHE. The share issuance, recorded as part of previously announced transactions, will expand the company’s quoted capital base from 19 January 2026, potentially broadening its investor base and enhancing liquidity in its securities.
The most recent analyst rating on (AU:FHE) stock is a Sell with a A$0.22 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited has reported a change in director Grant Davey’s indirect interests, following the exercise of 477,825 unquoted options into fully paid ordinary shares valued at $114,678. As a result of this transaction, Davey’s holdings have increased to 52,552,220 fully paid ordinary shares, while his short-term KPI options were reduced by the exercised amount, leaving a portfolio comprised solely of the remaining unexercised long- and short-term KPI options; the move modestly strengthens director alignment with shareholders through a higher equity stake.
The most recent analyst rating on (AU:FHE) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited has announced a change in the indirect holdings of director Chris Bath, who holds interests through Chivington Pty Ltd and Bath Investments Pty Ltd. The company disclosed that Bath has exercised 318,550 unquoted options into fully paid ordinary shares at a consideration of $76,452, increasing his shareholding to 3,977,735 shares while reducing his options by the same amount. The transaction reflects the conversion of performance-related options into equity, modestly increasing director equity alignment with shareholders without altering the company’s overall capital structure in a material way.
The most recent analyst rating on (AU:FHE) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited has issued 1,358,125 new ordinary shares, as previously notified to the Australian Securities Exchange, under provisions that allow the shares to be issued without a formal prospectus disclosure. The company confirmed it remains fully compliant with its financial reporting and continuous disclosure obligations and stated that there is no undisclosed price-sensitive information, signalling to investors that the capital issuance has been conducted within the standard regulatory framework and without hidden risks flagged under the Corporations Act.
The most recent analyst rating on (AU:FHE) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited has applied to the ASX for quotation of 1,358,125 new fully paid ordinary shares, issued on 30 December 2025 following the exercise or conversion of existing options or other convertible securities. The additional share quotation modestly increases the company’s listed equity base, which may slightly dilute existing holdings but provides clarity to the market on the expanded capital structure and the ongoing conversion of previously issued securities.
The most recent analyst rating on (AU:FHE) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited has notified the market of the issue of 15,000,004 new unquoted attaching options, which will not be listed or quoted on the ASX. The issuance, recorded under a new security class yet to be assigned a code, forms part of a previously announced transaction and signals additional equity-linked incentives or funding capacity for the company without immediate dilution in the quoted market.
The most recent analyst rating on (AU:FHE) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited has issued a prospectus outlining offers of new options to participants in a recent placement and to a company director, with the securities to be treated as highly speculative and intended for investors familiar with listed-company disclosure regimes. The document sets out the terms and timetable of the option offers, emphasises that the director allocation is subject to shareholder approval, and underscores that the options are speculative investments offered only in permitted jurisdictions, with investors urged to rely on the company’s continuous ASX disclosures and seek professional advice before participating.
The most recent analyst rating on (AU:FHE) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited has announced a General Meeting scheduled for January 19, 2026, in Perth, WA, providing shareholders the opportunity to participate and vote on relevant matters. The company emphasizes online accessibility and encourages stakeholders to prepare in advance, signaling a streamlined and digitally-forward approach to shareholder engagement.
The most recent analyst rating on (AU:FHE) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited has updated its previous announcement regarding the proposed issue of securities, specifically noting a slight change in the number of attaching options from 15,000,000 to 15,000,004 due to rounding. The company has also confirmed the date for a general meeting to approve the issuance of shares and options, which is a crucial step in aligning with ASX Listing Rule 10.11. This update reflects the company’s ongoing efforts to manage its securities issuance process and maintain compliance with regulatory requirements.
The most recent analyst rating on (AU:FHE) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited has announced the issuance of 30,000,000 ordinary shares, as detailed in an Appendix 2A released to the Australian Securities Exchange. The shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act 2001, and the company confirms compliance with relevant reporting and disclosure obligations. This move indicates Frontier’s ongoing commitment to transparency and adherence to regulatory standards, potentially impacting its market positioning and stakeholder confidence.
The most recent analyst rating on (AU:FHE) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited has announced the issuance of 30,000,000 fully paid ordinary securities, which will be quoted on the Australian Securities Exchange (ASX) as of December 16, 2025. This move is part of previously announced transactions and is expected to bolster the company’s financial position, potentially impacting its market presence and providing opportunities for stakeholders.
The most recent analyst rating on (AU:FHE) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited has announced a proposed issuance of securities, including 46,000,000 ordinary fully paid shares and 23,000,000 attaching options, with a planned issue date of December 17, 2025. This move is part of the company’s strategic financial initiatives to enhance its capital structure, potentially impacting its market positioning and offering opportunities for stakeholders to engage with the company’s growth trajectory.
The most recent analyst rating on (AU:FHE) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited has successfully raised $11.5 million through a placement of 46 million new shares to professional and sophisticated investors. This capital will support the completion of debt financing and fund a security deposit under the Reserve Capacity Mechanism for the Waroona Renewable Energy Project. The project is expected to receive substantial reserve capacity payments, providing guaranteed revenue essential for financing and enhancing the company’s market position in renewable energy.
The most recent analyst rating on (AU:FHE) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited, a company listed on the Australian Securities Exchange (ASX) under the ticker FHE, has requested a trading halt on its securities. This halt is pending an announcement concerning a capital raising initiative. The halt will remain in effect until the start of normal trading on December 10, 2025, or until the announcement is made. This move indicates a significant financial maneuver that could impact the company’s market operations and investor relations.
The most recent analyst rating on (AU:FHE) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.
Frontier Energy Limited announced a change in the director’s interest, as Grant Davey acquired an additional 48,088 fully paid ordinary shares through an on-market purchase. This acquisition reflects a strategic move in the company’s governance, potentially impacting its market positioning and stakeholder confidence by demonstrating the director’s increased investment and commitment to the company.
The most recent analyst rating on (AU:FHE) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Frontier Energy Limited stock, see the AU:FHE Stock Forecast page.