Toro Energy (TOE) AI Stock Analysis

• Market Cap: AU$68.56M
• Dividend Yield: N/A
• Average Volume (3M): 280.91K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.84
• Revenue Growth: N/A
• EPS Growth: -1.26%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.04
• Shares Outstanding: 120,281,845
• 10 Day Avg. Volume: 141,104
• 30 Day Avg. Volume: 280,910
• PEG Ratio: -0.70
• Price to Book (P/B): 1.09
• Price to Sales (P/S): 31.48
• P/FCF Ratio: -3.88
• 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$0.63 ▲(25.00% Upside)

The score is held down primarily by weak financial performance—large losses, deeply negative margins, and ongoing cash burn—despite the benefit of low leverage. Technicals are supportive with strong trend strength, but overbought signals temper the outlook. Valuation is constrained by negative earnings and the absence of dividend yield data.

Positive Factors

Conservative balance sheet

Very low reported debt and equity-funded assets reduce near-term refinancing risk for a development-stage miner. This structural financial conservatism preserves optionality to fund permitting and studies, supporting the company’s ability to advance projects without immediate debt pressure.

Emerging revenue trend

The shift from negligible to measurable revenue demonstrates early commercial or activity progress versus prior years. Over a multi-month horizon this trend indicates some operational advancement and a foundation to scale revenues as projects or commercial arrangements mature.

Cash losses reflect real cash outflows

Close alignment of free cash flow and net loss suggests reported losses are largely cash-based rather than driven by non‑cash accounting items. That improves visibility into actual cash burn, aiding durable forecasting and capital planning for project development or financing needs.

Negative Factors

Deeply negative profitability

Extremely negative margins and large losses reflect a structural inability to cover operating costs from current activities. Persisting at this scale materially erodes reserves, limits reinvestment capacity, and forces ongoing external funding, raising long-term execution and viability risk.

Elevated cash burn

Sustained negative operating and free cash flow at several million dollars per year creates a structural funding requirement. Over months this increases dependency on external capital, heightens dilution or financing risk, and can delay project milestones if funding conditions tighten.

Eroding equity and negative ROE

Declining shareholders’ equity and a large negative ROE signal cumulative losses that reduce the firm’s balance sheet resilience. Structurally weaker equity limits capacity to absorb setbacks, secures less favourable financing terms, and undermines long-term ability to fund project development without significant external support.

Toro Energy Business Overview & Revenue Model

Company Description

Toro Energy Limited (TOE) is an Australian uranium company focused on the exploration and development of uranium assets. The company's primary project is the Wiluna Uranium Project located in Western Australia, which aims to supply uranium to meet global energy demands. Toro Energy is committed to delivering sustainable energy solutions while adhering to environmental and safety standards.

How the Company Makes Money

Toro Energy makes money primarily through the development and potential sale of uranium from its mining operations. The company generates revenue by exploring and developing uranium deposits, obtaining the necessary permits, and eventually producing uranium for sale to energy companies and other industries that require uranium for nuclear energy production. Toro Energy's earnings are influenced by uranium market prices, operational efficiency, and regulatory approvals. Additionally, strategic partnerships and joint ventures with other companies in the mining and energy sectors may contribute to its revenue streams.

Toro Energy Financial Statement Overview

Summary

Overall fundamentals are weak: the company remains deeply loss-making with very negative margins and widening net losses, alongside substantial operating and free cash outflows. The main offset is a conservatively levered balance sheet with minimal debt, but declining equity and negative ROE underscore ongoing funding and dilution risk if losses persist.

Income Statement

Toro Energy remains in a loss-making profile with deeply negative profitability in the latest annual period (2025: net margin ~-1,295% and EBIT margin ~-863%), reflecting a very small revenue base relative to operating expenses. While revenue improved in 2025 versus 2024 (A$0.745m vs A$0.150m), earnings losses widened (net loss ~A$9.6m vs ~A$8.1m), indicating limited operating leverage and weak near-term earnings quality. The main strength is the presence of some revenue in the last two years after prior periods with minimal/zero revenue, but overall profitability and scalability remain major weaknesses.

Balance Sheet

The balance sheet is conservatively levered in the most recent year, with very low debt (2025 total debt ~A$0.08m) versus equity (~A$21.5m), supporting financial flexibility. Total assets (~A$22.3m) remain largely equity-funded, reducing refinancing risk. The key weakness is continued negative returns on equity (2025 ROE ~-45%), and equity has declined from 2024 to 2025 (A$30.4m to A$21.5m), consistent with ongoing losses and potential dilution/asset drawdowns over time.

Cash Flow

Cash generation remains a clear pressure point: 2025 operating cash flow was meaningfully negative (~-A$6.0m) and free cash flow was also negative (~-A$6.0m), indicating the business is consuming cash rather than funding itself. Free cash flow deteriorated sharply versus 2024 (from ~-A$5.4m to ~-A$6.0m), and cash burn is elevated relative to the company’s current revenue scale. A relative positive is that free cash flow tracked closely with net loss in 2025 (free cash flow to net income ~1.0x), suggesting losses are not massively understated by non-cash accounting, but the magnitude of cash burn remains the central risk.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	745.00K	150.00K	0.00	0.00	0.00
Gross Profit	-69.99K	745.00K	150.00K	-73.27K	-169.04K	-77.40K
EBITDA	-5.44M	-6.36M	-3.56M	-7.26M	-9.99M	-5.94M
Net Income	-7.59M	-9.65M	-8.07M	-7.10M	-8.93M	-6.51M
Balance Sheet
Total Assets	27.81M	22.31M	31.49M	21.82M	23.16M	31.16M
Cash, Cash Equivalents and Short-Term Investments	9.17M	6.69M	12.73M	3.24M	4.44M	12.38M
Total Debt	0.00	76.22K	0.00	0.00	0.00	10.00M
Total Liabilities	965.43K	834.73K	1.09M	1.38M	1.56M	10.84M
Stockholders Equity	26.85M	21.48M	30.40M	20.44M	21.59M	20.31M
Cash Flow
Free Cash Flow	-6.48M	-6.04M	-5.37M	-5.72M	-3.99M	-6.40M
Operating Cash Flow	-4.55M	-6.03M	-1.74M	-869.48K	1.12M	-1.49M
Investing Cash Flow	-1.38M	484.16K	-3.55M	-4.82M	-6.13M	-5.45M
Financing Cash Flow	11.77M	-23.15K	15.97M	4.76M	-3.32M	13.91M

Toro Energy Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.50
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:TOE, the sentiment is Positive. The current price of 0.5 is below the 20-day moving average (MA) of 0.53, above the 50-day MA of 0.46, and above the 200-day MA of 0.30, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 75.65 is Negative, neither overbought nor oversold. The STOCH value of 84.88 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:TOE.

Toro Energy Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
TOE	50 Neutral	AU$68.56M	-7.79	-36.26%	―	―	-1.26%
PHO	49 Neutral	AU$70.03M	-7.01	―	―	―	-268.97%
VRC	48 Neutral	AU$41.22M	-16.67	-12.53%	―	―	40.00%
SUH	48 Neutral	AU$23.56M	-8.42	-108.41%	―	―	36.67%
CXU	47 Neutral	AU$73.33M	-8.95	-353.96%	―	―	―

Toro Energy Corporate Events

IsoEnergy Moves to Acquire Toro Energy in Premium Uranium Portfolio Deal

Toro Energy has agreed to be acquired by Canada- and US-listed IsoEnergy under a scheme of arrangement that will see IsoEnergy acquire 100% of Toro’s shares, giving Toro investors 0.036 IsoEnergy shares per Toro share. The deal values Toro at A$0.584 per share, a premium of nearly 80% to its last traded price before the announcement, and will leave Toro shareholders with about 7.1% of the enlarged uranium group, which combines Toro’s Wiluna Uranium Project with IsoEnergy’s Athabasca Basin assets, past-producing US mines and broader exploration portfolio. The transaction is expected to provide Toro investors with exposure to a larger, more diversified uranium producer in tier-one jurisdictions, greater access to capital, and improved liquidity, while Toro continues technical work, including pilot plant design and remodelling of the Lake Maitland geometallurgical block model ahead of a core drilling program that will further refine its resource base.

The most recent analyst rating on (AU:TOE) stock is a Hold with a A$0.56 price target. To see the full list of analyst forecasts on Toro Energy stock, see the AU:TOE Stock Forecast page.

Toro Energy Clears Key FIRB Hurdle in IsoEnergy Takeover Scheme

Toro Energy has announced that IsoEnergy has received written confirmation from the Australian Commonwealth Government under the Foreign Acquisitions and Takeovers Act that it has no objection to IsoEnergy’s proposed acquisition of all Toro shares it does not already own via a scheme of arrangement. Satisfaction of this Foreign Investment Review Board-related condition marks a key regulatory milestone for the transaction, which still requires Toro shareholder approval and court sign-off, maintaining momentum toward potential consolidation that could reshape Toro’s ownership structure and strategic positioning in the uranium sector.

Toro Energy Secures Shareholder Approval for Key Resolutions at AGM

Toro Energy Limited announced that all resolutions presented at its Annual General Meeting were approved by shareholders. This includes key resolutions such as the adoption of the remuneration report, re-election of a director, approval of a 10% placement capacity, and renewal of proportional takeover provisions, indicating strong shareholder support for the company’s strategic direction.

Toro Energy Announces Cessation of Securities

Toro Energy Limited announced the cessation of 3,720,000 securities due to the expiry of options or other convertible securities without exercise or conversion as of November 20, 2025. This cessation reflects a routine adjustment in the company’s issued capital, potentially impacting stakeholders by altering the company’s financial structure and market positioning.

IsoEnergy to Acquire Toro Energy, Expanding Uranium Portfolio

Toro Energy Ltd has entered into a Scheme Implementation Deed with IsoEnergy Ltd, under which IsoEnergy will acquire 100% of Toro’s issued shares. This acquisition offers Toro shareholders a significant premium on their shares and exposure to a larger portfolio of high-quality uranium assets across tier-one jurisdictions. The merger is expected to enhance IsoEnergy’s development pipeline and provide Toro shareholders with continued exposure to the Wiluna Uranium Project, as well as increased access to capital and market opportunities.