Icon Energy Limited (ICN) AI Stock Analysis

• Market Cap: AU$4.61M
• Dividend Yield: N/A
• Average Volume (3M): 183.35K
• Price to Earnings (P/E): ―
• Beta (1Y): N/A
• Revenue Growth: N/A
• EPS Growth: 13.33%
• Country: AU
• Employees: 15
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): >-0.01
• Shares Outstanding: 868,013,700
• 10 Day Avg. Volume: 183,346
• 30 Day Avg. Volume: 183,346
• PEG Ratio: 0.35
• Price to Book (P/B): -1.10
• Price to Sales (P/S): 167.51
• P/FCF Ratio: -5.43
• 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): AU$32.03M

• Rating: 43 Neutral
• Price Target: AU$0.01 ▲(0.00% Upside)

The score is primarily weighed down by very weak financial performance (persistent losses, ongoing cash burn, and negative equity), which signals high funding and execution risk. Technicals are also unfavorable due to extremely overbought readings with little clear trend support, while valuation is neutral-to-weak because losses make P/E less informative and there is no dividend yield data.

Positive Factors

Strategic Positioning

Progress in ATP 855 project, despite regulatory hurdles, indicates strategic positioning for future growth in gas exploration.

Management Stability

Shareholder support for current management suggests stability and confidence in strategic direction, aiding long-term planning.

Regulatory Adaptation

Ability to navigate regulatory challenges and secure permits enhances operational resilience and future project viability.

Negative Factors

Financial Health

Negative equity weakens financial flexibility and raises refinancing risk, challenging long-term sustainability and growth potential.

Cash Flow Issues

Consistently negative cash flow indicates ongoing cash burn, necessitating external funding and posing risks to financial stability.

Profitability Challenges

Persistent losses and negative margins highlight profitability challenges, impacting ability to achieve break-even and sustainable growth.

Icon Energy Limited Business Overview & Revenue Model

Company Description

Icon Energy Limited engages in the exploration for and development of oil and gas properties in Australia. It holds interests in the Cooper/Eromanga and Surat Basins located in Queensland. The company was formerly known as Icon Oil NL and changed its name to Icon Energy Limited in November 2000. Icon Energy Limited was incorporated in 1993 and is headquartered in Gold Coast, Australia.

How the Company Makes Money

Icon Energy Limited generates revenue through its exploration and production activities in the oil and gas sector. The company earns money by developing and selling petroleum products extracted from its exploration sites. Key revenue streams include the sale of crude oil and natural gas to domestic and international markets. Additionally, Icon Energy may enter joint venture agreements and strategic partnerships to enhance its exploration and production capabilities, sharing costs and revenues with partners. The company's earnings are influenced by factors such as global oil and gas prices, production volume, and operational efficiency.

Icon Energy Limited Financial Statement Overview

Summary

Icon Energy Limited is facing severe financial difficulties across all key areas. The complete absence of revenue, coupled with negative profits and cash flows, highlights a critical need for strategic restructuring or turnaround. The balance sheet's negative equity and high liabilities further compound the company's challenges, making it vital for management to address these issues to avoid long-term insolvency.

Income Statement

Icon Energy Limited has consistently reported zero revenue over the past years, indicating severe operational challenges. Negative EBIT and net income figures further highlight the absence of profitability. The lack of revenue growth and persistent losses reflect significant financial distress.

Balance Sheet

The company shows a negative stockholders' equity position, indicating insolvency. The debt-to-equity ratio is not calculable due to negative equity, but liabilities exceed assets significantly, showcasing a weak financial standing. The equity ratio is negative, reinforcing concerns about financial stability.

Cash Flow

Negative operating and free cash flows indicate ongoing cash burn without revenue generation. The inability to generate positive cash flow from operations poses a significant risk to sustainability. Free cash flow shows no growth, emphasizing cash flow challenges.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	29.72K	0.00	0.00	0.00	0.00
Gross Profit	17.19K	29.72K	0.00	-117.00K	18.96K	-82.77K
EBITDA	-1.34M	-1.01M	-891.00K	-5.41M	-1.09M	-6.83M
Net Income	-1.08M	-1.08M	-1.16M	-5.54M	-1.47M	-6.92M
Balance Sheet
Total Assets	1.30M	1.30M	1.47M	2.41M	7.04M	6.47M
Cash, Cash Equivalents and Short-Term Investments	431.41K	431.41K	448.75K	1.48M	1.85M	1.58M
Total Debt	729.57K	729.57K	445.39K	393.46K	41.31K	123.47K
Total Liabilities	5.80M	5.80M	5.58M	5.37M	5.26M	4.69M
Stockholders Equity	-4.51M	-4.51M	-4.11M	-2.96M	1.78M	1.78M
Cash Flow
Free Cash Flow	-917.33K	-917.33K	-1.05M	-1.50M	-1.10M	-3.89M
Operating Cash Flow	-915.50K	-915.50K	-1.05M	-1.50M	-1.10M	-3.89M
Investing Cash Flow	-1.83K	-1.83K	17.73K	0.00	-5.09K	-2.60K
Financing Cash Flow	900.00K	900.00K	0.00	1.14M	1.39M	-64.46K

Icon Energy Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.01
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Neutral
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:ICN, the sentiment is Negative. The current price of 0.01 is below the 20-day moving average (MA) of 0.01, below the 50-day MA of 0.01, and below the 200-day MA of 0.01, indicating a bearish trend. The MACD of >-0.01 indicates Neutral momentum. The RSI at 100.00 is Negative, neither overbought nor oversold. The STOCH value of 100.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:ICN.

Icon Energy 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%
LIO	49 Neutral	AU$7.23M	-4.32	-16.03%	―	-47.23%	-2.78%
TEG	44 Neutral	AU$6.60M	―	―	―	―	―
IPB	44 Neutral	AU$5.97M	-25.00	-7.32%	―	―	90.70%
ICN	43 Neutral	AU$4.61M	-7.69	―	―	―	13.33%
GLL	43 Neutral	AU$6.29M	-1.72	-1481.88%	―	―	36.96%

Icon Energy Limited Corporate Events

Icon Energy’s 2025 AGM Resolutions Passed

Icon Energy Limited held its 2025 Annual General Meeting where all resolutions were passed by a poll. The key resolutions included the re-election of Mr. Raymond James as a Director and the renewal of specific constitutional provisions, indicating shareholder support for the current management and strategic direction.

Icon Energy Advances ATP 855 Amid Regulatory Challenges

Icon Energy Limited has made notable progress in the development of its ATP 855 gas project despite regulatory challenges. The company submitted a Production Lease application for ATP 855, adhering to new regulations banning fracking in the Nappamerri Trough. While awaiting the formal grant of PL-1144, Icon is engaged in negotiations for a new Joint Venture, highlighting the importance of securing tenure before committing to development. The recognition of potential reserves in eight Potential Commercial Areas further underscores the company’s strategic positioning for future growth.

Icon Energy Navigates Regulatory Hurdles to Secure Gas Project Future

Icon Energy Limited is currently navigating regulatory processes to secure the renewal of its ATP 855 permit and the grant of Petroleum Lease PL-1144. The company is working towards forming a new joint venture to develop gas resources in the Great Keppel Gasfield, contingent on securing tenure. The ASX has stipulated that Icon must demonstrate sufficient operational and financial conditions to avoid delisting, with a critical deadline set for January 2026.

Icon Energy Limited to Host Virtual 2025 AGM

Icon Energy Limited has announced that its 2025 Annual General Meeting will be conducted as a virtual event on November 26, 2025. This shift to an online format allows shareholders and proxyholders to participate in real-time, reflecting the company’s adaptation to digital engagement methods, which may enhance accessibility and stakeholder involvement.

Icon Energy Releases 2025 Annual Report and Governance Statement

Icon Energy Limited has released its 2025 Annual Report, Corporate Governance Statement, and Appendix 4G, which are now available to shareholders and can be accessed on the company’s website. This release is part of Icon Energy’s ongoing commitment to transparency and shareholder engagement, potentially impacting the company’s operations and market positioning by providing stakeholders with comprehensive insights into its governance and financial performance.

Icon Energy Limited Releases Full-Year Financial Accounts

Icon Energy Limited has released its full-year financial accounts for the period ending June 30, 2025. The report includes various financial statements and disclosures, providing a comprehensive overview of the company’s financial performance. This release is crucial for stakeholders to assess the company’s financial health and make informed decisions regarding their investments.