Seafarms Group Limited (SFG) AI Stock Analysis

• Market Cap: AU$9.67M
• Dividend Yield: N/A
• Average Volume (3M): N/A
• Price to Earnings (P/E): ―
• Beta (1Y): 1.40
• Revenue Growth: -43.51%
• EPS Growth: 40.00%
• Country: AU
• Employees: 12
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Agricultural Farm Products
• EPS (TTM): >-0.01
• Shares Outstanding: 4,836,599,000
• 10 Day Avg. Volume: N/A
• 30 Day Avg. Volume: N/A
• PEG Ratio: 0.02
• Price to Book (P/B): 3.15
• Price to Sales (P/S): 0.66
• P/FCF Ratio: -0.99
• 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: 44 Neutral
• Price Target: ―

The score is driven primarily by weak financial performance: persistent losses, ongoing cash burn, and a higher-risk balance sheet due to sharply increased leverage and reduced equity. Technical and valuation inputs were not available from the provided data, limiting their impact beyond a neutral baseline.

Positive Factors

Strategic Asset Acquisition

The acquisition of Project Sea Dragon's assets enables Seafarms to expand its operations and infrastructure, potentially enhancing its market position and competitive advantage in the aquaculture industry.

Increased Funding

The increased funding provides Seafarms with necessary capital to support ongoing operations and development projects, improving financial stability and enabling strategic growth initiatives.

Strong International Demand

Sustained international demand for Black Tiger prawns supports Seafarms' revenue potential and market expansion efforts, offering a favorable long-term outlook for its core product line.

Negative Factors

Weak Financial Performance

Persistent losses and negative cash flow indicate ongoing financial challenges, limiting Seafarms' ability to self-finance operations and invest in growth without external funding.

High Leverage Risk

Increased leverage heightens financial risk, potentially constraining Seafarms' flexibility to navigate market fluctuations and invest in strategic initiatives.

Margin Deterioration

Significant margin compression undermines profitability, indicating operational inefficiencies or pricing pressures that could hinder long-term financial health.

Seafarms Group Limited Business Overview & Revenue Model

Company Description

Seafarms Group Limited (SFG) is an Australian aquaculture company primarily focused on the sustainable farming of seafood, particularly barramundi, which is known for its high quality and market demand. Operating in the aquaculture sector, Seafarms engages in the entire supply chain, from breeding and growing fish to processing and distribution, ensuring quality control and sustainability throughout its operations. The company aims to meet the growing global demand for seafood while promoting environmentally responsible practices.

How the Company Makes Money

Seafarms Group Limited generates revenue through several key streams, primarily from the sale of its farmed barramundi and other seafood products. The company has established a vertically integrated model, which allows it to control costs and quality from production to sales. Significant revenue comes from direct sales to wholesalers, retailers, and food service providers, as well as exports to international markets. Additionally, partnerships with distributors and participation in strategic joint ventures enhance its market reach and capability. The growing demand for sustainable seafood, along with Seafarms' commitment to environmentally friendly practices, positions the company to capitalize on market trends, further contributing to its earnings.

Seafarms Group Limited Financial Statement Overview

Summary

Overall financial quality is very weak: sustained operating/net losses, negative free cash flow, and a materially weakened balance sheet. 2025 revenue fell (~12.5%), gross margin compressed sharply (~16.8% vs ~47.2% in 2024), and leverage rose significantly (debt-to-equity ~3.44) as equity reduced, increasing financial risk.

Income Statement

Profitability remains very weak with sustained operating and net losses every year. The latest annual period (2025) shows revenue down ~12.5% and margins deteriorating sharply versus prior years (gross margin fell to ~16.8% from ~47.2% in 2024), while net margin stayed deeply negative (~-80.5%). There is some improvement versus the extreme loss year in 2022, but the business still lacks a clear path to positive earnings based on the current trend.

Balance Sheet

Leverage has become a key risk: debt-to-equity increased materially to ~3.44 in 2025 (from ~0.67 in 2024), driven by a large reduction in equity. Returns on equity are deeply negative (about -3.82 in 2025), reflecting ongoing losses and a thinner equity buffer. Total debt is not exceptionally large in absolute terms, but the weakened equity position reduces financial flexibility.

Cash Flow

Cash generation is consistently negative: operating cash flow and free cash flow have been negative each year, including 2025 operating cash flow of about -9.7M and free cash flow of about -9.8M. While cash burn is far lower than the 2022 outflow, free cash flow still worsened versus 2024 (free cash flow growth ~-21.9%), indicating ongoing funding needs and limited self-financing capacity.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	14.57M	14.57M	25.48M	25.92M	19.30M	20.93M
Gross Profit	2.44M	2.44M	12.02M	14.91M	-48.09M	10.80M
EBITDA	-16.77M	-16.77M	-17.00M	-13.29M	-77.85M	-16.29M
Net Income	-11.73M	-11.73M	-19.31M	-15.36M	-86.27M	-25.76M
Balance Sheet
Total Assets	18.78M	18.78M	32.07M	45.53M	66.58M	64.21M
Cash, Cash Equivalents and Short-Term Investments	3.30M	3.30M	1.23M	8.45M	36.20M	497.11K
Total Debt	10.55M	10.55M	9.91M	4.15M	2.94M	48.28M
Total Liabilities	15.71M	15.71M	17.26M	11.42M	16.27M	59.17M
Stockholders Equity	3.07M	3.07M	14.80M	34.12M	49.47M	5.03M
Cash Flow
Free Cash Flow	-9.79M	-9.79M	-10.38M	-25.89M	-97.30M	-15.26M
Operating Cash Flow	-9.72M	-9.72M	-9.81M	-23.43M	-84.65M	-14.77M
Investing Cash Flow	13.63M	13.63M	-570.40K	-2.80M	-12.65M	-486.02K
Financing Cash Flow	-1.84M	-1.84M	3.15M	-1.52M	96.77M	10.74M

Seafarms Group Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AAP	70 Neutral	AU$19.54M	8.87	14.00%	―	18.35%	55.88%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
SSL	54 Neutral	AU$69.26M	54.78	1.45%	―	-23.53%	-47.23%
DBF	45 Neutral	AU$87.85M	-2.60	-11.46%	29.49%	-16.73%	-343.82%
SFG	44 Neutral	AU$9.67M	―	-131.28%	―	-43.51%	40.00%
MPX	38 Underperform	AU$19.82M	-7.58	-13.36%	―	-81.98%	-131.34%

Seafarms Group Limited Corporate Events

Seafarms Completes Asset Acquisition to Advance Sea Dragon Project

Seafarms Group Limited has completed the Asset Sale Agreement through its subsidiary, Sea Dragon Shrimp Pty Ltd, acquiring assets from Project Sea Dragon Pty Ltd in liquidation. This acquisition is expected to facilitate funding arrangements for the development of the Sea Dragon Shrimp project, which includes new farms, hatcheries, and processing facilities in Northern Territory and Western Australia. The company is actively engaging with third parties for necessary consents and is in discussions with potential investors to support the project’s staged development.

Seafarms Group Acquires Project Sea Dragon Assets

Seafarms Group Limited has announced that it will acquire all assets and undertakings of Project Sea Dragon Pty Ltd, following a unanimous resolution by the creditors meeting. This acquisition marks a significant step in Seafarms’ expansion and development efforts, potentially strengthening its position in the aquaculture industry and providing new opportunities for investment and growth.

Seafarms Group AGM Results: Key Resolutions and Implications

Seafarms Group Limited held its Annual General Meeting on November 25, 2025, where various resolutions were voted upon. Notably, the resolution on the remuneration report was not carried, constituting a first strike under the Corporations Act 2001. This outcome may impact the company’s governance and stakeholder relations.

Seafarms Group Updates on FY25 Performance and Project Sea Dragon Progress

Seafarms Group Limited provided an update at its Annual General Meeting, highlighting key developments and operational performance for FY25. The company completed the sale and lease extension of Farms 1 and 2, faced mixed operational results due to severe weather, and reported a financial loss of $11.7 million with reduced production. Despite challenges, international demand for Black Tiger prawns remains strong, and financial support from Avatar Industries has been increased. The company is advancing Project Sea Dragon, having reached an agreement to acquire its assets from liquidation, with ongoing stakeholder engagement and positive sentiment from potential funding partners.

Seafarms Group Expands with Project Sea Dragon Asset Acquisition

Seafarms Group Limited has announced the acquisition of assets from Project Sea Dragon Pty Ltd, which is currently in liquidation. This strategic move aims to expand Seafarms’ prawn farming operations into the Northern Territory and Western Australia, with plans to develop new facilities and engage potential investors. The acquisition is seen as a significant step in overcoming past challenges and enhancing the company’s market position in the seafood industry.

Seafarms Group Announces 2025 Annual General Meeting

Seafarms Group Limited has announced its upcoming Annual General Meeting, scheduled for November 25, 2025, which will be held both in person and via webcast. The meeting will allow shareholders to participate actively by asking questions and casting votes online, reflecting the company’s commitment to engaging with its stakeholders and maintaining transparency in its operations.

Seafarms Group Schedules 2025 AGM with No New Director Nominations

Seafarms Group Limited has announced that its 2025 Annual General Meeting will be held on November 25, 2025, with no new director nominations received. This update is crucial for stakeholders as it confirms the continuity of the current board and provides an opportunity for shareholders to engage with the company’s auditors.