Fitzroy River Corp. Ltd. (FZR) AI Stock Analysis

• Market Cap: AU$18.89M
• Dividend Yield: 16.82%
• Average Volume (3M): 34.44K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.60
• Revenue Growth: N/A
• EPS Growth: -257.14%
• Country: AU
• Employees: 7
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): >-0.01
• Shares Outstanding: 107,954,254
• 10 Day Avg. Volume: 29,679
• 30 Day Avg. Volume: 34,439
• PEG Ratio: -0.25
• Price to Book (P/B): 6.27
• Price to Sales (P/S): 29.33
• P/FCF Ratio: 46.15
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: AU$0.18 ▲(10.00% Upside)
• Action: Reiterated Date: 12/30/25
• Date: Action: Reiterated 12/30/25

The score is held back primarily by deteriorating fundamentals (multi-year revenue decline and recent net losses with shrinking equity). Technical indicators also point to weak momentum (oversold RSI and negative MACD). Support comes from a cleaner balance sheet with zero debt, positive recent cash generation, and a high dividend yield, though the negative P/E reflects ongoing earnings weakness.

Positive Factors

Zero Net Debt

Elimination of total debt materially reduces financial risk and interest obligations, improving liquidity and flexibility. With no debt repayments, management can allocate positive cash flow to operations, maintenance, or strategic work programs, supporting resilience over the next 2–6 months.

Consistent Positive Operating Cash Flow

Sustained positive operating and free cash flow despite accounting losses indicates the business generates real cash from operations. That cash provides funding for near-term capex, working capital and dividends, reducing reliance on external financing and supporting operational continuity.

Very High Gross Margins

Extremely high gross margins imply low incremental production or service costs relative to revenue, giving strong operating leverage. If top-line declines stabilize or reverse, margins can rapidly convert additional revenue into cashflow, supporting profitable scaling and recovery.

Negative Factors

Multi-year Revenue Decline

A sustained top-line downtrend erodes scale and commercial momentum, reducing fixed-cost coverage and limiting the firm's ability to leverage its high gross margins. Continued revenue contraction over multiple years raises execution risk and constrains recovery prospects without structural demand or asset changes.

Return to Net Losses and Shrinking Equity

Recent sizable losses have materially eroded shareholders' equity, reducing the balance-sheet cushion. A thinner equity base limits capacity to absorb further losses or finance growth internally, increasing the likelihood of external financing or cutbacks if negative earnings persist.

Profitability Volatility and Large Negative Margin

Wide swings from profit to deep losses reduce predictability of returns and cash available for reinvestment or distributions. A sharply negative net margin indicates structural profitability issues or low utilization that could persist absent higher revenues or cost restructuring, raising medium-term operating risk.

Fitzroy River Corp. Ltd. Business Overview & Revenue Model

Company Description

Fitzroy River Corporation Limited operates as an oil and gas, and mineral investment holding company. The company focuses on non-operational assets, such as royalties and equity investments. It holds royalty interests in various permits in Australia, the Gulf of Mexico, and New Zealand. The company was incorporated in 1996 and is based in Gwelup, Australia.

How the Company Makes Money

Fitzroy River Corp. Ltd. makes money through its investment portfolio in the oil and gas sector. The company's revenue is primarily derived from dividends, interest, and capital gains earned from its equity investments in exploration and production companies. FZR strategically selects investment opportunities that have the potential for significant returns, benefiting from the growth and profitability of its investee companies. Additionally, the company may engage in joint ventures or partnerships that enhance its revenue streams and provide further opportunities for financial growth.

Fitzroy River Corp. Ltd. Financial Statement Overview

Summary

Financials are mixed: revenue has fallen sharply for multiple years and the company returned to sizable net losses in 2024–2025, pressuring equity. Offsetting this, debt has been eliminated and operating/free cash flow has been positive in 2023–2025, providing some financial resilience.

Income Statement

Revenue has been declining for several years (2025: -11.5%; 2024: -30.0%; 2023: -19.7%), indicating weakening top-line momentum. Profitability is also volatile: the company posted net losses in 2024 and 2025 (2025 net margin ~-44.8%), after profits in 2022–2023. A key strength is consistently high gross margin (near 100% in 2024–2025), but the swing back to sizeable losses and the downtrend in revenue keep the income statement quality below average.

Balance Sheet

Leverage has improved materially: total debt is now zero (2023–2025), which reduces financial risk versus 2020–2021 when debt was meaningful. The main weakness is shrinking equity (from ~5.66m in 2024 to ~2.84m in 2025) and negative returns on equity in 2024–2025, reflecting recent losses and reduced balance-sheet cushion. Overall, the balance sheet is cleaner on debt, but the declining equity base is a notable concern.

Cash Flow

Cash generation has been a bright spot recently: operating cash flow is positive in 2023–2025, with 2025 operating and free cash flow at ~386k and strong year-over-year free-cash-flow growth (~27x) off a low base. Cash flow has also been stronger than accounting earnings in the last two years, helping offset reported net losses. The weakness is historical volatility (negative operating cash flow in 2020–2021) and a step-down from the higher 2023–2024 operating cash flow levels.

Breakdown	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	607.54K	725.47K	1.04M	1.29M	691.16K
Gross Profit	607.54K	725.47K	1.04M	995.74K	395.80K
EBITDA	225.95K	361.97K	660.67K	898.85K	692.22K
Net Income	-272.32K	-71.87K	138.82K	851.01K	83.58K
Balance Sheet
Total Assets	3.03M	5.73M	5.99M	7.72M	6.30M
Cash, Cash Equivalents and Short-Term Investments	749.85K	2.39M	1.76M	1.27M	474.37K
Total Debt	0.00	0.00	0.00	0.00	3.50M
Total Liabilities	189.71K	63.29K	112.12K	35.90K	69.28K
Stockholders Equity	2.84M	5.66M	5.88M	7.68M	6.23M
Cash Flow
Free Cash Flow	386.04K	433.54K	990.97K	709.55K	-114.58K
Operating Cash Flow	386.04K	433.54K	990.97K	709.55K	-114.58K
Investing Cash Flow	18.84K	194.51K	89.45K	89.45K	1.06M
Financing Cash Flow	-2.04M	-638.00	-506.69K	-1.09M	-1.09M

Fitzroy River Corp. Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.16
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:FZR, the sentiment is Positive. The current price of 0.16 is below the 20-day moving average (MA) of 0.17, below the 50-day MA of 0.16, and below the 200-day MA of 0.16, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 67.24 is Neutral, neither overbought nor oversold. The STOCH value of 69.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:FZR.

Fitzroy River Corp. Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
EMP	57 Neutral	AU$116.26M	-15.88	-10.90%	―	―	30.77%
FDR	52 Neutral	AU$303.65M	-1.86	168.99%	―	―	―
ADX	50 Neutral	AU$28.52M	-0.99	-59.58%	―	4.41%	-49.06%
FZR	49 Neutral	AU$18.89M	-65.42	-6.92%	16.82%	―	-257.14%
HHR	44 Neutral	AU$33.70M	-8.64	-6.70%	―	―	20.00%
PGY	44 Neutral	AU$9.13M	-1.80	-45.97%	―	0.69%	-30.00%

Fitzroy River Corp. Ltd. Corporate Events

Fitzroy River Flags Steady Royalty Income as Key Energy and Gold Projects Advance

Fitzroy River Corporation reported quarterly royalty income of $148,042 from its Weeks Royalty for the September 2025 period, taking total receipts for the year to 31 December 2025 to $593,107, slightly lower than the prior year, while noting that its overall risk profile remains largely unchanged amid continued volatility in oil, gas and foreign exchange markets. The company highlighted progress across its near‑term royalty portfolio, including Buru Energy’s move to secure about A$40 million in funding and target a 3Q 2026 final investment decision for the Rafael Gas Project, continued permitting steps at the Bowdens Silver Project, substantial new equity funding for the Snowy River Gold Mine, and an updated resource and upcoming scoping study at the Sam’s Creek Gold Project, developments that collectively underpin potential future royalty growth but remain exposed to commodity price movements, operational interruptions and macro‑geopolitical uncertainty.

The most recent analyst rating on (AU:FZR) stock is a Hold with a A$0.18 price target. To see the full list of analyst forecasts on Fitzroy River Corp. Ltd. stock, see the AU:FZR Stock Forecast page.