High Peak Royalties Limited (HPR) AI Stock Analysis

• Market Cap: AU$10.43M
• Dividend Yield: N/A
• Average Volume (3M): 24.48K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.42
• Revenue Growth: -4.70%
• EPS Growth: -155.56%
• Country: AU
• Employees: N/A
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): >-0.01
• Shares Outstanding: 208,559,710
• 10 Day Avg. Volume: 3,900
• 30 Day Avg. Volume: 24,477
• PEG Ratio: -0.18
• Price to Book (P/B): 1.52
• Price to Sales (P/S): 12.66
• P/FCF Ratio: 59.00
• 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$0.05 ▲(0.00% Upside)
• Action: Reiterated Date: 12/30/25
• Date: Action: Reiterated 12/30/25

The score is held back primarily by weak profitability (net losses and negative ROE) and bearish technical signals (price below key moving averages and negative MACD). Support comes from a strengthened, debt-free balance sheet and improved operating/free cash flow, but valuation remains difficult to justify with a negative P/E and no dividend yield provided.

Positive Factors

Debt-free balance sheet

Transitioning to zero debt in FY2025 materially improves financial flexibility for an E&P/royalties company. A debt-free balance sheet reduces refinancing and interest risks across commodity cycles, supports funding of operating needs and opportunistic investments, and strengthens resilience over the next several quarters.

Improved cash generation

Sustained positive operating and free cash flow since FY2022, with a pronounced FCF uptick in FY2025, indicates the business is increasingly self-funding. Durable cash generation lowers reliance on external capital, supports maintenance and development spending, and enhances liquidity to withstand cyclical downturns.

Revenue rebound and positive EBITDA

A strong revenue rebound and consecutive positive EBITDA suggest the company’s underlying assets can generate operating profits even if net income is volatile. This operational profitability supports long-term ability to cover variable costs and points to potential margin recovery as fixed costs are absorbed and production stabilizes.

Negative Factors

Deep net losses & negative margins

Material net losses and a ~-45% net margin demonstrate persistent profitability weakness beyond volatile top-line swings. Continued deep losses erode equity and cash buffers, limit reinvestment capacity, and may force cost reduction or asset sales to achieve sustainable profitability over the medium term.

Negative returns on equity

Negative ROE across recent years shows capital employed is not generating shareholder returns. Even with low leverage, inability to convert equity into positive returns constrains long-term value creation, increasing risk that management pursues dilutive financing or strategic disposals to improve metrics.

Weak cash conversion vs earnings

Operating cash flow translating poorly relative to net income indicates earnings quality issues and potential timing or non-cash adjustments. If cash conversion remains weak, the company may struggle to fund capex, service obligations, or return capital during lower commodity price periods, reducing strategic optionality.

High Peak Royalties Limited Business Overview & Revenue Model

Company Description

High Peak Royalties Limited, together with its subsidiaries, engages in the acquisition of royalty and exploration interests in oil and gas assets. It has royalties over 20 oil and gas permits in Australia and over 2,000 wells in the United States. High Peak Royalties Limited was incorporated in 2006 and is based in Sydney, Australia.

How the Company Makes Money

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High Peak Royalties Limited Financial Statement Overview

Summary

Financial profile is mixed: revenue rebounded strongly in FY2025, the balance sheet is debt-free and conservatively positioned, and operating/free cash flow has been positive since FY2022 with a sharp FY2025 FCF increase. Offsetting this, profitability is volatile with deeper net losses in FY2025 and negative returns on equity, indicating weak earnings consistency and cost/expense pressure.

Income Statement

Revenue rebounded in FY2025 (up ~133% YoY), but profitability remains volatile. The company swung from a profit in FY2023 to net losses in FY2024 and a deeper loss in FY2025 (net margin ~-45%), showing weak earnings quality and limited consistency. EBITDA stayed positive in FY2024–FY2025, but the move to an EBIT loss in FY2024 and only modest EBIT in FY2025 underscores ongoing cost/expense pressure.

Balance Sheet

The balance sheet is conservatively positioned, with debt declining to zero in FY2025 from modest leverage in prior years, and equity remaining high (~8.7M). Total assets are relatively stable, and debt levels were already manageable even before the FY2025 deleveraging. The key weakness is returns: profitability has been insufficient to generate attractive returns on equity (negative in FY2024–FY2025).

Cash Flow

Cash generation improved meaningfully from negative operating cash flow in FY2020–FY2021 to positive operating and free cash flow from FY2022 through FY2025, with a sharp free-cash-flow increase in FY2025. However, cash flow coverage of earnings is weak in FY2024–FY2025 given net losses, and operating cash flow versus net income remains low in FY2025, suggesting cash conversion is not yet robust through the cycle.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.05M	1.05M	1.10M	1.52M	1.04M	442.46K
Gross Profit	1.05M	1.05M	1.10M	1.52M	1.04M	442.46K
EBITDA	169.72K	169.72K	291.19K	948.60K	-330.31K	-860.60K
Net Income	-477.12K	-477.12K	-192.66K	492.92K	-758.97K	-1.30M
Balance Sheet
Total Assets	9.96M	9.96M	10.52M	11.05M	10.91M	11.00M
Cash, Cash Equivalents and Short-Term Investments	339.54K	339.54K	1.28M	1.38M	1.11M	761.79K
Total Debt	0.00	0.00	1.13M	1.51M	1.83M	2.00M
Total Liabilities	1.21M	1.21M	1.28M	1.59M	1.98M	2.09M
Stockholders Equity	8.75M	8.75M	9.24M	9.46M	8.93M	8.91M
Cash Flow
Free Cash Flow	225.13K	225.13K	396.91K	641.76K	-95.31K	-729.46K
Operating Cash Flow	225.13K	225.13K	396.91K	641.75K	304.69K	-476.94K
Investing Cash Flow	313.00	313.00	0.00	0.00	-400.00K	-252.52K
Financing Cash Flow	-1.17M	-1.17M	-501.68K	-373.58K	397.89K	-332.54K

High Peak Royalties Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.05
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:HPR, the sentiment is Neutral. The current price of 0.05 is above the 20-day moving average (MA) of 0.05, below the 50-day MA of 0.06, and below the 200-day MA of 0.06, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 48.68 is Neutral, neither overbought nor oversold. The STOCH value of 34.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:HPR.

High Peak Royalties Limited 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%
HPR	49 Neutral	AU$10.43M	-27.84	-5.33%	―	-4.70%	-155.56%
FZR	49 Neutral	AU$18.89M	-65.42	-6.92%	16.82%	―	-257.14%
GAS	47 Neutral	AU$13.00M	-2.33	-7.60%	―	―	16.52%
BLU	45 Neutral	AU$15.06M	-7.85	-1.94%	―	―	89.19%
TEE	45 Neutral	AU$11.47M	-1.37	-43.14%	―	―	27.59%
PGY	44 Neutral	AU$8.63M	-1.80	-45.97%	―	0.69%	-30.00%

High Peak Royalties Limited Corporate Events

High Peak Royalties crystallises value from Torrens Energy sale and expands Northstar stake

High Peak Royalties has completed the transfer of its remaining 80.01% stake in Torrens Energy (SA) Pty Ltd to Northstar Energy, securing an additional 6.25 million Northstar shares and bringing its total holding to 12.5 million shares valued at A$2 million, while retaining a royalty over the underlying geothermal exploration licences. The company highlighted that this transaction crystallises value from previously impaired geothermal assets at minimal net cost and better aligns them with its royalty-focused strategy, alongside modest quarterly royalty receipts of A$247,341, a net cash outflow of A$127,657 after operating costs and bond repayment, a board change with the appointment of long-time advisor Jarrod White as director, and ongoing monitoring of key royalty interests in the Northern Territory’s Amadeus Basin and the Gippsland Basin’s Longtom area amid encouraging operational updates from partners.

The most recent analyst rating on (AU:HPR) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on High Peak Royalties Limited stock, see the AU:HPR Stock Forecast page.

High Peak Completes Torrens Geothermal Sale to Northstar and Retains Royalty Stake

High Peak Royalties has completed the sale of its wholly owned subsidiary Torrens Energy (SA) Pty Ltd, which holds South Australian geothermal licences and applications, to Northstar Energy Limited, receiving a total of 12.5 million Northstar shares and retaining a 1% gross royalty over geothermal energy produced from the Torrens tenements. With ministerial approval now secured and both tranches of the deal finalised, High Peak has exited direct ownership of the geothermal assets while preserving ongoing economic exposure in line with its royalty-focused strategy, as Northstar advances feasibility work on a 2 MW pilot-scale geothermal power demonstration project under a newly approved work programme in South Australia.

High Peak Royalties Director David Croll Steps Down but Retains Major Shareholding

High Peak Royalties Limited has announced that director David Charles Croll ceased to be a director of the company effective 24 December 2025. According to the final director’s interest notice lodged with the ASX, Croll retains an indirect relevant interest in 73,837,454 fully paid ordinary shares in High Peak Royalties, held through JP Morgan Nominees Australia Pty Limited, where he is a controller and beneficiary of the holding, meaning a substantial shareholding remains in the hands of a former board member even after his departure.

High Peak Royalties Appoints Jarrod Travers White to Board with Significant Shareholding

High Peak Royalties Limited has appointed Jarrod Travers White as a director effective 24 December 2025, strengthening its board with additional leadership and oversight. Regulatory disclosures show that White holds 42,812 fully paid ordinary shares directly and a further 831,285 shares indirectly through Braidwood-White Pty Ltd , where he is both a controller and beneficiary, signalling a substantial equity alignment with shareholders and a strong personal stake in the company’s future performance.

High Peak Royalties reshapes board with new executive director appointment

High Peak Royalties has announced the resignation of director David Croll and the appointment of chartered accountant Jarrod White as an executive director, both effective 24 December 2025. Croll, who remains a substantial shareholder and supporter of the company’s long-term strategy, departs the board after contributing to its development, while White steps up from his longstanding roles as company secretary and chief financial officer, bringing deep corporate governance, capital markets and growth-company advisory experience that is expected to strengthen High Peak’s leadership and support its execution of royalty growth initiatives.