White Energy Company Limited (WEC) AI Stock Analysis

• Market Cap: AU$19.87M
• Dividend Yield: N/A
• Average Volume (3M): 37.62K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.20
• Revenue Growth: N/A
• EPS Growth: -57.46%
• Country: AU
• Employees: 75
• Sector: Energy
• Sector Strength: 52
• Industry: Coal
• EPS (TTM): >-0.01
• Shares Outstanding: 441,460,750
• 10 Day Avg. Volume: 0
• 30 Day Avg. Volume: 37,615
• PEG Ratio: >-0.01
• Price to Book (P/B): -4.71
• Price to Sales (P/S): 97.24
• P/FCF Ratio: -1.74
• 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: 40 Neutral
• Price Target: AU$0.04 ▲(7.50% Upside)

The score is primarily pressured by very weak financial performance (large losses, negative equity, and weak operating cash flow). Technicals provide a modest offset with price above moving averages and positive MACD, but the very high RSI suggests elevated near-term reversal risk. Valuation is also unfavorable due to a negative P/E and no dividend yield data.

Positive Factors

Free cash flow improvement

An improvement in free cash flow (13.68% growth and FCF to net income >1) indicates the business can begin converting operations into cash despite losses. This enhances liquidity flexibility and funds working capital or restructuring over the medium term.

Positive revenue trend

Consistent, if modest, revenue growth (2.5%) shows underlying sales resilience in a challenging industry. Over 2–6 months this trend supports efforts to stabilize operations and provides a base for margin recovery if cost controls or pricing power improve.

Lean operating footprint

A small headcount (75 employees) suggests a lean cost structure and operational agility. Lower fixed payroll overhead can help the company scale back costs quickly, preserve cash, and adapt to market swings without large structural expenses.

Negative Factors

Severe profitability deficit

Extremely negative net margin and operating margins indicate chronic unprofitability and structural cost or revenue shortcomings. Persistent losses undermine reinvestment capacity, creditor confidence, and the ability to fund operations without external financing.

Negative equity / leveraged balance sheet

Negative equity and a debt-to-equity of -32.81 signal a highly stressed balance sheet. This structural weakness limits financing options, increases refinancing risk, and raises insolvency vulnerability if operational cash generation does not improve.

Weak operating cash generation

Negative operating cash flow means core operations are not producing cash to cover losses. This persistent shortfall forces reliance on financing or asset sales, constraining strategic investments and making turnaround dependent on rapid operational fixes.

White Energy Company Limited Business Overview & Revenue Model

Company Description

White Energy Company Limited engages in coal technology, coal mining, and exploration businesses in Australia, Indonesia, China, Singapore, South Africa, Mauritius, the United States, and the United Kingdom. It holds license for the Binderless Coal Briquetting technology, which processes poor quality coal into a higher quality product; and EL6566 tenements located in South Australia. The company was formerly known as Amerod Resource Limited. White Energy Company Limited was incorporated in 1995 and is headquartered in Brisbane, Australia.

How the Company Makes Money

WEC generates revenue through multiple streams, primarily by selling its advanced clean energy products, including sustainable fuels and clean coal technology. The company partners with various stakeholders in the energy sector, including utilities and industrial clients, to implement its solutions. Additionally, WEC secures funding through government grants and initiatives focused on renewable energy development. Licensing agreements for its proprietary technologies also contribute to revenue, allowing other companies to utilize WEC's innovations in their operations. The combination of product sales, partnerships, and licensing agreements forms the backbone of WEC's revenue model.

White Energy Company Limited Financial Statement Overview

Summary

Very weak fundamentals: deeply negative profitability (net margin -291.72%) and negative EBIT/EBITDA margins, a highly stressed balance sheet with negative equity (debt-to-equity -32.81), and cash flows that remain negative at the operating level despite some free cash flow growth.

Income Statement

White Energy Company Limited has been experiencing significant challenges in its income statement. The company has a negative net profit margin of -291.72% for the latest period, indicating substantial losses relative to its revenue. The EBIT and EBITDA margins are also negative, reflecting operational inefficiencies. Although there is a slight revenue growth rate of 2.5%, the persistent negative margins overshadow this growth.

Balance Sheet

The balance sheet reveals a highly leveraged position with a debt-to-equity ratio of -32.81, indicating negative equity and high financial risk. The return on equity is positive at 14.13%, but this is due to the negative equity base rather than operational success. The equity ratio is negative, highlighting a precarious financial position with liabilities exceeding assets.

Cash Flow

Cash flow analysis shows some improvement in free cash flow growth at 13.68%, but the company still faces negative operating cash flow. The operating cash flow to net income ratio is negative, suggesting that the company is not generating sufficient cash from its operations to cover its losses. The free cash flow to net income ratio is above 1, indicating some ability to generate cash relative to net losses, but overall cash flow remains weak.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	82.00K	82.00K	89.00K	106.00K	90.00K	24.00K
Gross Profit	30.00K	30.00K	64.00K	-1.98M	71.00K	-62.00K
EBITDA	-3.23M	-3.23M	-1.75M	-4.12M	-3.88M	-15.07M
Net Income	-23.92M	-23.92M	-6.23M	-6.21M	-5.80M	-17.91M
Balance Sheet
Total Assets	12.92M	12.92M	13.27M	10.20M	11.71M	17.06M
Cash, Cash Equivalents and Short-Term Investments	3.15M	3.15M	5.64M	772.00K	434.00K	2.22M
Total Debt	55.55M	55.55M	51.87M	33.85M	32.69M	30.02M
Total Liabilities	56.69M	56.69M	54.29M	54.07M	50.39M	44.03M
Stockholders Equity	-1.69M	-1.69M	-2.51M	-4.97M	-3.34M	3.10M
Cash Flow
Free Cash Flow	-4.59M	-4.59M	-5.13M	-3.95M	-3.04M	-10.93M
Operating Cash Flow	-2.26M	-2.26M	-3.64M	-3.81M	-2.90M	-10.86M
Investing Cash Flow	-2.10M	-2.10M	-1.49M	-436.00K	903.00K	1.90M
Financing Cash Flow	3.79M	3.77M	7.99M	4.58M	182.00K	483.00K

White Energy Company Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.04
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Negative
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:WEC, the sentiment is Positive. The current price of 0.04 is below the 20-day moving average (MA) of 0.04, above the 50-day MA of 0.03, and above the 200-day MA of 0.03, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 88.24 is Negative, neither overbought nor oversold. The STOCH value of 12.50 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:WEC.

White Energy Company 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%
JAL	46 Neutral	AU$53.98M	-45.63	-2.71%	―	―	40.74%
AJL	43 Neutral	AU$13.76M	-0.92	―	―	-8.48%	-2080.00%
WEC	40 Neutral	AU$19.87M	-0.39	―	―	―	-57.46%
NCR	38 Underperform	AU$768.61K	-33.33	―	―	―	57.14%

White Energy Company Limited Corporate Events

White Energy Advances Exploration Portfolio and Coal Technology Amid Capital Raise

White Energy reported a busy December 2025 quarter, highlighted by raising approximately $3.2 million via an entitlement offer to support its operations, signing an exclusive global agency agreement with briquette machine manufacturer K.R. Komarek, and entering into an agreement to sell the assets of Mountainside Coal Company. On the exploration front, the company advanced its Australian portfolio with a core drilling program at the Specimen Hill copper-gold project in Queensland, where preliminary logging of five diamond drill holes has identified alteration assemblages consistent with large mineral systems, and continued analysis of extensive ionic sampling at its Tindal project areas. In parallel, White Energy is working with joint venture partner Proterra to promote and develop its Binderless Coal Briquetting technology in South Africa, including assistance on a small commercial-scale demonstration plant, underscoring its strategy to combine mineral exploration with cleaner coal technology deployment.

The most recent analyst rating on (AU:WEC) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on White Energy Company Limited stock, see the AU:WEC Stock Forecast page.

White Energy Moves to Recover Mountainside Debt with US$3.8m Kentucky Asset Sale

White Energy’s subsidiary Binderless Coal Briquetting Company has agreed to sell a coal wash plant, coal permit and land lease in Kentucky to Blue Gem Poplar Creek LLC for US$3.8 million, with proceeds to be shared with joint venture partner Proterra after deducting recoverable holding and selling costs. Completion, targeted by 16 February 2026, is subject to standard conditions including payment of the purchase price, a permit bond, lease assignment and transfer of operator status on the permit, with specific provisions for reversal and liquidated damages if permit transfer or lease obligations are not met; the transaction represents a significant partial recovery of debt owed from the 2021 sale of Mountainside Coal Company, and the expected funds will be used to support further mineral exploration, settle Proterra’s share, and for general corporate purposes, although the company notes it cannot provide high assurance that the newly formed buyer will complete given limited ability to independently verify its financing.

The most recent analyst rating on (AU:WEC) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on White Energy Company Limited stock, see the AU:WEC Stock Forecast page.

White Energy Secures Global Exclusive Agency for BCB Briquetting Machines

White Energy has secured a global exclusive agency agreement under which its wholly owned subsidiary, Binderless Coal Briquetting Company, will act as the exclusive worldwide sales agent for briquettor machines manufactured by K.R. Komarek that utilise the company’s BCB technology, beginning after the current worldwide licence expires in January 2026. The 10-year agreement, with automatic annual renewals, preserves White Energy’s strategic control over marketing BCB-based briquetting equipment, aligning with ongoing licensing negotiations with partner Proterra for key territories and supporting its push to commercialise coal-upgrading projects, particularly in South Africa, where successful trials have shown the potential to turn coal tailings into export-grade fuel and enhance the company’s positioning in cleaner, more efficient coal utilisation.

The most recent analyst rating on (AU:WEC) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on White Energy Company Limited stock, see the AU:WEC Stock Forecast page.

White Energy Director Increases Stake Amid Rights Issue

White Energy Company Limited has announced a change in the director’s interest, specifically regarding Brian Flannery’s holdings. Through a rights issue entitlement allotment, Flannery has acquired additional ordinary shares, increasing his indirect and direct holdings. This move could potentially strengthen his influence within the company and reflects a strategic decision to capitalize on the rights issue, which may impact the company’s market positioning and stakeholder confidence.

The most recent analyst rating on (AU:WEC) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on White Energy Company Limited stock, see the AU:WEC Stock Forecast page.

Director Increases Stake in White Energy Company

White Energy Company Limited has announced a change in the director’s interest in securities. Gregory Keith Whitehouse, a director of the company, has increased his indirect interest in the company by acquiring 370,370 ordinary shares through a rights issue entitlement allotment, bringing his total to 3,053,397 shares. This change in shareholding reflects a strategic move by the director to increase his stake in the company, which could indicate confidence in the company’s future prospects.

The most recent analyst rating on (AU:WEC) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on White Energy Company Limited stock, see the AU:WEC Stock Forecast page.

White Energy’s Director Increases Stake Amid Rights Issue

White Energy Company Limited has announced a change in the director’s interest in securities, involving Vince O’Rourke. As part of a rights issue entitlement allotment, O’Rourke acquired additional ordinary shares, increasing his direct and indirect holdings. This move reflects strategic financial adjustments within the company, potentially impacting its market positioning and shareholder value.

The most recent analyst rating on (AU:WEC) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on White Energy Company Limited stock, see the AU:WEC Stock Forecast page.

White Energy Company Limited Announces Quotation of New Securities

White Energy Company Limited has announced the quotation of 129,840,848 fully paid ordinary securities on the Australian Securities Exchange (ASX), effective December 17, 2025. This move is part of a previously announced transaction, potentially impacting the company’s market presence and providing additional capital for its operations, which could influence its strategic positioning in the clean energy sector.

The most recent analyst rating on (AU:WEC) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on White Energy Company Limited stock, see the AU:WEC Stock Forecast page.

White Energy Raises $3.5 Million Through Entitlement Offer

White Energy Company Limited announced the successful completion of its 5 for 12 partially underwritten non-renounceable pro rata entitlement offer, raising approximately $3.5 million before costs. The offer, which closed on December 10, 2025, saw a total of 124,496,551 shares accepted, with the shortfall covered by the underwriter, Morgans Corporate Limited. The new shares are expected to commence trading on December 18, 2025. This capital raising effort is anticipated to bolster White Energy’s financial position and support its ongoing operations and strategic initiatives in the clean energy sector.

The most recent analyst rating on (AU:WEC) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on White Energy Company Limited stock, see the AU:WEC Stock Forecast page.

White Energy Completes Specimen Hill Drilling Program

White Energy Company Limited announced the completion of its drilling program at the Specimen Hill Project, with results expected to be released in the first quarter of 2026. This development marks a significant step in the company’s exploration efforts, potentially impacting its market positioning and offering insights into future operational directions.

The most recent analyst rating on (AU:WEC) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on White Energy Company Limited stock, see the AU:WEC Stock Forecast page.

White Energy Announces Investor Webinar on Exploration Updates

White Energy Company Limited announced an investor webinar to provide updates on its exploration and corporate activities, particularly focusing on its ongoing core-drilling campaign at the Specimen Hill copper-gold project in Central Queensland. The webinar will cover the company’s current Entitlement Offer and provide insights into its exploration portfolio across Queensland, Northern Territory, and South Australia, potentially impacting its market positioning and stakeholder interests.

The most recent analyst rating on (AU:WEC) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on White Energy Company Limited stock, see the AU:WEC Stock Forecast page.

White Energy Secures $250,000 Loan for Working Capital

White Energy Company Limited has announced an unsecured loan agreement with one of its directors, who is also a substantial shareholder, to provide up to $250,000 for general working capital needs. This financial arrangement is intended to support the company until the completion of its upcoming capital raising initiative. The loan, provided by Managing Director Brian Flannery’s private company Ilwella Pty Ltd, includes terms such as a 0.8% monthly interest rate and a repayment period of up to one year. This move is expected to provide White Energy with the necessary liquidity to maintain its operations and strategic initiatives, potentially strengthening its position in the energy market.

The most recent analyst rating on (AU:WEC) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on White Energy Company Limited stock, see the AU:WEC Stock Forecast page.

White Energy’s AGM Resolutions Pass with Strong Support

White Energy Company Limited announced the successful outcomes of its Annual General Meeting, where all resolutions were passed, including the adoption of the Remuneration Report with over 75% approval. This positive outcome reflects shareholder confidence and may bolster the company’s strategic initiatives and market position.

The most recent analyst rating on (AU:WEC) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on White Energy Company Limited stock, see the AU:WEC Stock Forecast page.

White Energy Company Limited’s 2025 AGM Highlights Financial Position and Shareholder Structure

White Energy Company Limited held its 2025 Annual General Meeting, where CEO Greg Sheahan presented key corporate updates. The company’s market capitalization as of November 2025 stands at A$9.3 million, with a share price range over the past year between $0.028 and $0.06. The presentation highlighted the company’s financial position and shareholder structure, with directors holding 44.8% and the top 20 shareholders holding 51.2% of shares. This information underscores White Energy’s strategic focus on maintaining a robust financial footing and shareholder engagement.

The most recent analyst rating on (AU:WEC) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on White Energy Company Limited stock, see the AU:WEC Stock Forecast page.

White Energy Company Limited Outlines Strategic Developments at 2025 AGM

White Energy Company Limited’s recent AGM highlighted ongoing activities, including their joint venture in South Africa for coal briquetting and mineral exploration in Australia. The company announced a capital raise of approximately $3.5 million, partially underwritten by Morgans Corporate Limited, to support its operations and exploration efforts.

The most recent analyst rating on (AU:WEC) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on White Energy Company Limited stock, see the AU:WEC Stock Forecast page.

White Energy Launches Pro Rata Entitlement Offer to Boost Capital

White Energy Company Limited has initiated a 5 for 12 partially underwritten, non-renounceable pro rata entitlement offer, which opened on November 26, 2025, and will close on December 10, 2025. This move is aimed at raising capital from eligible shareholders in Australia and New Zealand, potentially impacting the company’s financial standing and market positioning by enhancing its liquidity and operational capabilities.

The most recent analyst rating on (AU:WEC) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on White Energy Company Limited stock, see the AU:WEC Stock Forecast page.

White Energy Announces Partially Underwritten Entitlement Offer

White Energy Company Limited has announced a partially underwritten, non-renounceable pro rata entitlement offer, allowing eligible shareholders to participate in a 5 for 12 offer. This strategic move aims to strengthen the company’s financial position and support its ongoing operations, potentially enhancing its market presence and providing value to its stakeholders.

White Energy Company Launches $3.5 Million Entitlement Offer to Boost Exploration

White Energy Company Limited has announced a pro rata partially underwritten, non-renounceable entitlement offer to raise approximately $3.5 million. The funds will be used to advance mineral exploration projects in Queensland, South Australia, and the Northern Territory, as well as for general corporate purposes and working capital. This move is expected to bolster the company’s exploration capabilities and strengthen its position in the mineral exploration industry.

White Energy Announces Partially Underwritten Entitlement Offer

White Energy Company Limited has announced a partially underwritten, non-renounceable pro rata entitlement offer to existing shareholders in Australia and New Zealand. The offer, managed by Morgans Corporate Limited, allows eligible shareholders to subscribe for additional shares beyond their entitlement. The company expects no material impact on its control structure, as major shareholders have committed to taking up their full entitlements, and any shortfall will be managed by the lead manager.

White Energy Announces New Share Entitlement Offer

White Energy Company Limited has announced a pro rata non-renounceable entitlement offer of new fully paid ordinary shares, managed and partially underwritten by Morgans Corporate Limited. This move is part of their strategic efforts to bolster financial resources, potentially enhancing their operational capabilities and market positioning in the copper mining sector.

White Energy Launches $3.5 Million Entitlement Offer for Exploration Expansion

White Energy Company Limited has announced a partially underwritten, non-renounceable pro rata entitlement offer to raise approximately $3.5 million. This capital will support further mineral exploration and provide additional working capital. The offer is backed by substantial shareholders and is partially underwritten by Morgans Corporate Limited. The funds will be used for exploration activities across several projects in Australia, as well as for general corporate purposes and to cover the costs of the offer.