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Big Sky Industrial Inc
(NASDAQ:BSIN)
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Rating:54Neutral
Price Target:
$1.00
▲(0.00% Upside)
Action:Reiterated
Date:07/17/26
The score is held back primarily by weak financial performance (ongoing losses and recent negative operating/free cash flow), despite a relatively supportive low-leverage balance sheet. The latest earnings call improves the outlook with concrete project milestones, a take-or-pay helium offtake, and potential 45Q economics, but execution and regulatory timing risks remain until commissioning and first revenue. Technically the stock has positive momentum but appears overbought, and valuation is unfavorable due to a negative P/E.
Positive Factors
Balance Sheet Health
Low leverage and a meaningful equity cushion provide durable financial flexibility during the construction-to‑commercialization phase. This reduces refinancing pressure, improves ability to fund remaining capex or raise project finance, and supports credit counterparties over the next 2–6 months.
Negative Factors
Negative Cash Flow
Sustained negative operating and free cash flow indicates ongoing cash burn and reliance on external funding. During the build phase this raises liquidity and dilution risk, constrains optionality for opportunistic investments, and increases sensitivity to any financing market dislocation over the coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Health
Low leverage and a meaningful equity cushion provide durable financial flexibility during the construction-to‑commercialization phase. This reduces refinancing pressure, improves ability to fund remaining capex or raise project finance, and supports credit counterparties over the next 2–6 months.
Read all positive factors
Big Sky Industrial Inc (BSIN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$59.65M
Dividend YieldN/A
Average Volume (3M)2.08M
Price to Earnings (P/E)―
Beta (1Y)0.63
Revenue Growth-61.17%
EPS Growth38.42%
CountryUS
Employees20
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-0.42
Shares Outstanding52,320,430
10 Day Avg. Volume2,262,010
30 Day Avg. Volume2,075,063
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)1.30
Price to Sales (P/S)4.28
P/FCF Ratio-1.64
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.2
Revenue Forecast (FY)$7.25M
Big Sky Industrial Inc Business Overview & Revenue Model
Company Description
Big Sky Industrial Inc., an independent energy company, focuses on the acquisition, exploration, and development of industrial gas, and oil and natural gas properties in the continental United States. The company's principal properties and operati...
Big Sky Industrial Inc Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Positive
The call emphasized multiple material positive operational and commercial milestones: FID on Phase 1, a fixed-scope EPC contract, a completed Phase 1 capital stack, and a 5-year 100% take-or-pay helium offtake at $285/Mcf. Management also quantified a significant policy-backed revenue stream (~$130M of 45Q value over 12 years) and outlined a clear path to commercial operations (first gas and revenue targeted Q1 2027) plus scalable Phase 2 optionality. The principal risks discussed were near-term execution/permit timing (MRV/EPA approvals), remaining near-term CAPEX (~$25M), and the fact the project is not yet revenue-generating. On balance, the highlights — completed financing, long-term offtake, and construction underway — materially outweigh the near-term operational and regulatory risks.Positive Updates
Final Investment Decision (FID) on Big Sky Phase 1
Reached FID on the Phase 1 processing facility at the Big Sky Carbon Hub; transitioned the project from development to construction with long-lead equipment on order and capital flowing into the project. Commercial operations targeted for Q1 2027.
Negative Updates
Project Not Yet Revenue-Generating
Big Sky Phase 1 is under construction and management targets first revenue in Q1 2027 — revenues have not yet begun, leaving near-term financial optics constrained while the company is in a build phase.
Read all updates
Q1-2026 Updates
Positive
Negative
Final Investment Decision (FID) on Big Sky Phase 1
Reached FID on the Phase 1 processing facility at the Big Sky Carbon Hub; transitioned the project from development to construction with long-lead equipment on order and capital flowing into the project. Commercial operations targeted for Q1 2027.
Read all positive updates
Company Guidance
Management guided that, following FID on March 18 and execution of a fixed‑scope EPC with CANUSA, Phase 1 is under construction with the capital stack complete (March equity offering; amended senior secured facility: $20M borrowing base, 200 bps margin, maturity May 31, 2029, covenant testing suspended through the quarter ending Mar 31, 2027; ELOC suspended) and roughly $25M of project spend remaining, with plant commissioning targeted late‑2026 and first gas/first revenue in Q1 2027; the modular plant is designed for ~8 MMcf/day inlet capacity targeting ~14–14.4 MMcf/year of high‑purity helium (1.2 MMcf/month contracted) and ~125,000 metric tons CO2/year, with a 5‑year 100% take‑or‑pay helium offtake at $285/Mcf (CPI escalation from 3/1/2028; year‑3 repricing), MRV/45Q approvals expected summer 2026 (45Q = $85/ton today, underpinning ~ $130M of credits over the first 12 years), drilling/completions wrapped Aug 2025 (3 drilled wells + 2 acquired), two Class II injection wells operational, gathering/EOR prep this summer/fall, and acreage plus 170+ permitted Class II wells supporting 2–3x Phase 1 capacity and ~70M barrels incremental recovery at Cut Bank (Phase 2 excluded from base case but expected to lower per‑unit CapEx and significantly improve economics).Big Sky Industrial Inc Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
60
Neutral
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.76M | 7.35M | 20.62M | 32.32M | 44.55M | 6.19M |
| Gross Profit | -1.37M | -2.03M | -276.00K | 3.16M | 14.70M | 3.77M |
| EBITDA | -11.00M | -10.38M | -16.81M | -20.72M | 7.50M | -273.00K |
| Net Income | -14.45M | -14.37M | -25.78M | -32.36M | -963.00K | -1.77M |
Balance Sheet | ||||||
| Total Assets | 55.19M | 40.63M | 49.67M | 80.44M | 118.32M | 17.66M |
| Cash, Cash Equivalents and Short-Term Investments | 10.62M | 575.00K | 7.85M | 3.52M | 4.52M | 4.61M |
| Total Debt | 2.87M | 2.92M | 611.00K | 5.79M | 12.98M | 133.00K |
| Total Liabilities | 16.72M | 16.43M | 25.85M | 33.92M | 39.97M | 4.23M |
| Stockholders Equity | 38.48M | 24.20M | 23.82M | 46.52M | 78.35M | 13.44M |
Cash Flow | ||||||
| Free Cash Flow | -19.13M | -19.21M | -3.33M | 1.60M | 4.25M | -1.76M |
| Operating Cash Flow | -5.05M | -7.14M | 4.59M | 5.47M | 10.90M | -153.00K |
| Investing Cash Flow | -13.89M | -11.88M | 5.77M | 2.83M | -16.95M | -3.33M |
| Financing Cash Flow | 18.89M | 11.73M | -5.98M | -9.36M | 6.04M | 5.05M |
Big Sky Industrial Inc Technical Analysis
Positive
1.00
Price Trends
1.13
Positive
1.03
Positive
1.04
Positive
Market Momentum
0.01
Positive
52.60
Neutral
41.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BSIN, the sentiment is Positive. The current price of 1 is below the 20-day moving average (MA) of 1.23, below the 50-day MA of 1.13, and below the 200-day MA of 1.04, indicating a neutral trend. The MACD of 0.01 indicates Positive momentum. The RSI at 52.60 is Neutral, neither overbought nor oversold. The STOCH value of 41.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BSIN.
Big Sky Industrial Inc Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
60 Neutral | $17.76M | 13.47 | 6.76% | 1.09% | -10.83% | -23.27% | |
54 Neutral | $59.65M | -2.69 | -49.96% | ― | -61.17% | 38.42% | |
54 Neutral | $31.93M | -0.26 | -38.74% | ― | -18.02% | -131.87% | |
50 Neutral | $69.77M | -0.49 | -96.10% | ― | 1350.36% | 72.90% |
* Energy Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.