Invictus Energy Limited (IVZ) AI Stock Analysis

• Market Cap: AU$256.56M
• Dividend Yield: N/A
• Average Volume (3M): 5.49M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.88
• Revenue Growth: N/A
• EPS Growth: 22.50%
• Country: AU
• Employees: 503
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): >-0.01
• Shares Outstanding: 1,603,484,700
• 10 Day Avg. Volume: 2,684,745
• 30 Day Avg. Volume: 5,486,327
• PEG Ratio: 0.78
• Price to Book (P/B): 0.56
• Price to Sales (P/S): 278.37
• P/FCF Ratio: -6.29
• 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: 50 Neutral
• Price Target: AU$0.14 ▼(-3.57% Downside)

The score is primarily held back by weak financial performance—continued losses and ongoing cash burn requiring external funding—despite a very low-debt balance sheet. Technicals are mixed with a short-term improvement but negative MACD and weaker medium-term trend. Valuation is constrained by negative earnings and no dividend yield data.

Positive Factors

Strategic Partnerships

The agreement and national project status provide a stable framework for operations, enhancing the company's ability to advance its projects and attract further investment.

Conservative Leverage

Low leverage reduces financial risk and provides flexibility to fund exploration and development activities, supporting long-term growth potential.

Director's Interest Alignment

Aligning leadership interests with company performance can drive strategic decisions that enhance shareholder value over the long term.

Negative Factors

Negative Cash Flow

Persistent negative cash flow indicates ongoing reliance on external funding, which can constrain operational flexibility and long-term sustainability.

Weak Profitability

Continued losses highlight challenges in achieving profitability, which may hinder the company's ability to reinvest in growth and development.

External Funding Needs

Reliance on external funding can dilute shareholder value and increase financial risk, impacting the company's long-term strategic initiatives.

Invictus Energy Limited Business Overview & Revenue Model

Company Description

Invictus Energy Limited, an independent upstream oil and gas company, engages in the exploration and appraisal of the Cabora Bassa project. It holds 80% interest in SG 4571 that covers an area of 360,000 hectares located in the Cabora Bassa Basin in northern Zimbabwe. The company was formerly known as Interpose Holdings Limited and changed its name to Invictus Energy Limited in June 2018. Invictus Energy Limited was incorporated in 2011 and is headquartered in West Perth, Australia.

How the Company Makes Money

Invictus Energy Limited generates revenue through the exploration and potential extraction of oil and gas resources. The company's primary revenue model is based on identifying and developing commercially viable hydrocarbon reserves, which can then be monetized through various channels such as selling exploration rights, entering into joint ventures with larger energy companies, or directly extracting and selling the resources. Key revenue streams include potential sales of oil and gas, as well as partnerships with other energy firms that may involve profit-sharing agreements or sale of interests in discovered assets. The company's earnings are significantly influenced by successful exploration outcomes, strategic partnerships, and prevailing market conditions for oil and gas prices.

Invictus Energy Limited Financial Statement Overview

Summary

Invictus Energy Limited is in the exploration phase with no revenue and increasing losses. Despite a strong equity base and low leverage, the lack of revenue and negative cash flows highlight financial vulnerability. Long-term success will depend on transitioning from exploration to production and generating sustainable revenue streams.

Income Statement

Invictus Energy Limited has consistently reported zero revenue, reflecting its status as an exploration-focused entity. The company shows increasing net losses, with the net loss widening from AUD 1.73 million in 2020 to AUD 5.00 million in 2024. Gross profit is negative, further affecting margins. The negative EBIT and EBITDA margins indicate operational challenges and significant ongoing expenses without offsetting revenue.

Balance Sheet

The company's equity has been growing, reaching AUD 123.03 million in 2024. The debt-to-equity ratio remains low at 0.0018, indicating limited leverage use. However, the absence of revenue and consistent operating losses pose risks to future financial stability despite the strong equity position. The equity ratio remains robust, reflecting a solid capital structure.

Cash Flow

Free cash flow remains negative, with a decline from AUD -24.16 million in 2020 to AUD -49.86 million in 2024, driven by high capital expenditures. Operating cash flow is also negative, showing no improvement, which is a concern for liquidity. The company relies heavily on financing activities to cover cash flow deficits, which may not be sustainable without revenue generation.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	273.12K	273.12K	0.00	0.00	0.00	0.00
Gross Profit	-51.01K	273.12K	-241.91K	-250.38K	-264.00K	-136.14K
EBITDA	-5.00M	-4.68M	-5.05M	-4.64M	-3.47M	-1.11M
Net Income	-4.65M	-4.65M	-5.00M	-4.66M	-3.64M	-1.22M
Balance Sheet
Total Assets	138.17M	138.17M	126.75M	98.95M	43.13M	18.39M
Cash, Cash Equivalents and Short-Term Investments	8.80M	8.80M	3.26M	22.93M	13.72M	9.14M
Total Debt	167.69K	167.69K	219.16K	365.06K	492.10K	95.19K
Total Liabilities	982.54K	982.54K	3.31M	2.90M	4.62M	427.62K
Stockholders Equity	136.98M	136.98M	123.03M	95.32M	37.48M	16.92M
Cash Flow
Free Cash Flow	-9.70M	-12.10M	-49.86M	-51.24M	-15.80M	-2.11M
Operating Cash Flow	-4.52M	-4.52M	-2.57M	-2.57M	-1.62M	-767.68K
Investing Cash Flow	-7.58M	-7.58M	-47.29M	-49.46M	-14.21M	-1.34M
Financing Cash Flow	17.57M	17.57M	30.19M	60.92M	20.37M	9.79M

Invictus Energy Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.14
• 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:IVZ, the sentiment is Positive. The current price of 0.14 is above the 20-day moving average (MA) of 0.12, above the 50-day MA of 0.14, and above the 200-day MA of 0.10, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 64.98 is Neutral, neither overbought nor oversold. The STOCH value of 75.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:IVZ.

Invictus Energy Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CUE	68 Neutral	AU$80.47M	12.78	10.27%	13.04%	10.44%	-55.67%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
ECH	56 Neutral	AU$76.14M	23.94	―	6.72%	―	―
IVZ	50 Neutral	AU$256.56M	-51.61	-3.58%	―	―	22.50%
MAY	49 Neutral	AU$30.26M	-10.00	-7.26%	―	―	-220.00%
KKO	46 Neutral	AU$104.46M	-16.67	-7.73%	―	―	17.02%
HE8	40 Underperform	AU$36.34M	-7.69	-8.06%	―	-86.80%	27.78%

Invictus Energy Limited Corporate Events

Invictus Secures Key Production-Sharing Framework for Zimbabwe’s Cabora Bassa Gas Project

Invictus Energy has completed the process for a Petroleum Production Sharing Agreement covering its Cabora Bassa Project in Zimbabwe, with formal execution expected in January, establishing a stable and internationally competitive legal and fiscal framework for petroleum operations in the country. This milestone clears the way for the company to advance its next phase of work in the Cabora Bassa Basin, including appraisal of the Mukuyu gas-condensate discoveries and drilling of the Musuma-1 exploration well, while also signalling the Zimbabwean government’s commitment to developing a nascent oil and gas industry seen as critical for national energy security and broader economic development.

Invictus Energy Announces Director’s Interest Change

Invictus Energy Ltd has announced a change in the director’s interest, specifically for Scott Macmillan, involving the acquisition of performance rights and unlisted options. This change is part of the company’s Short and Long Term Employee Incentive Plan, reflecting a strategic move to align leadership interests with company performance and shareholder value.

Invictus Energy Issues New Unquoted Equity Securities

Invictus Energy Limited announced the issuance of unquoted equity securities, including 2,500,000 performance rights and 5,075,000 options expiring in August 2028. This move is part of an employee incentive scheme and is not intended for ASX quotation, potentially impacting the company’s employee retention and motivation strategies.

Invictus Energy Ltd Defers Securities Issue to Finalize Joint Venture Agreements

Invictus Energy Ltd announced an update regarding a proposed issue of securities, which has been deferred to align with the finalization of a shareholder agreement and governance framework for a joint venture. This strategic move is expected to streamline the company’s operations and strengthen its market positioning by ensuring all agreements are in place before proceeding with the securities issue.

Invictus Energy Ltd Approves AGM Resolutions, Boosting Exploration Efforts

Invictus Energy Ltd announced that all resolutions at its Annual General Meeting held on 27 November 2025 were approved. This approval supports the company’s ongoing exploration and development efforts in the Cabora Bassa Basin, potentially strengthening its position in the energy sector and impacting stakeholders positively.

Invictus Energy Advances Strategic Partnership with Al Mansour Holdings

Invictus Energy Ltd has provided an update on its joint venture with Al Mansour Holdings (AMH) through their company Al Mansour Oil & Gas (AMOG), which aims to acquire and invest in oil and gas assets across Africa. The partnership is negotiating a structure that could allow AMH and other Qatari parties to become 50% shareholders of Invictus, pending regulatory approvals. The settlement of a previously announced placement has been deferred to align with these negotiations, with all other terms remaining unchanged.

Invictus Energy Schedules Annual General Meeting for November 2025

Invictus Energy Limited has announced its Annual General Meeting, scheduled for November 27, 2025, at The Celtic Club in West Perth. The meeting will cover the consideration of the Annual Report, a non-binding resolution on the Remuneration Report, and the re-election of Director Joseph Mutizwa. Shareholders are encouraged to participate either in person or by proxy, with eligibility to vote determined by registration as of November 25, 2025.

Invictus Energy Advances Cabora Bassa Project with Strategic Partnership

Invictus Energy Ltd has settled the terms for a Petroleum Production Sharing Agreement and received National Project Status for its Cabora Bassa Project in Zimbabwe. The company has renewed its Exclusive Prospecting Orders and is planning a high-impact drilling campaign for 2026. Additionally, Invictus has signed a binding MOU and Share Subscription Agreement with Al Mansour Holdings, which will acquire a 19.9% stake and provide US$500 million in future funding to advance the Cabora Bassa Project.

Invictus Energy Limited Reinforces Commitment to Corporate Governance

Invictus Energy Limited has released its 2025 Corporate Governance Statement, emphasizing its commitment to adhering to the ASX’s Corporate Governance Principles and Recommendations. The company has implemented a Board Charter and Nomination Committee Charter to ensure transparency and accountability in its governance practices. While Invictus has adopted a Diversity Policy, it currently does not set measurable gender diversity objectives due to its small size but has made strides by appointing a female CFO. This governance framework is designed to bolster the company’s operations and market positioning.

Invictus Energy Releases 2025 Financial Results

Invictus Energy Limited has released its financial statements for the year ended 30 June 2025, detailing its financial position and performance. The report includes comprehensive information on the company’s profit or loss, cash flows, and changes in equity, providing stakeholders with insights into its financial health and strategic direction.

Invictus Energy Schedules AGM Amidst Strategic Developments

Invictus Energy Ltd has announced that its Annual General Meeting (AGM) will be held on 27 November 2025, where the re-election and appointment of directors will be a key agenda item. This meeting is part of the company’s ongoing efforts to strengthen its governance as it continues to develop its significant gas discovery at the Mukuyu field, which positions Invictus as a key player in the exploration of one of the last untested large frontier rift basins in onshore Africa.