Capricorn Energy PLC (GB:CNE)
LSE:CNE
Top Page
Capricorn Energy PLC
(LSE:CNE)
Select Model
Select Model
Rating:71Outperform
Price Target:
341.00 p
▲(3.33% Upside)
Action:UpgradedDate:03/31/26
The score is driven primarily by improving financial performance (profitability returning and solid cash generation with low leverage) and supportive technical momentum with the stock trading well above key moving averages. This is balanced by operational/cash-flow volatility and revenue declines, plus earnings-call risks around EGPC receivables, concession ratification dependency, and planned 2026 turnarounds. Valuation is supportive with a low P/E, but dividend support is not available.
Positive Factors
Balance sheet strength / net cash position
A net cash position with minimal outstanding facility exposure materially reduces refinancing risk and provides durable financial flexibility. This supports disciplined capex, bolt‑on M&A or buffer through commodity cycles, improving resilience vs highly leveraged peers.
Negative Factors
Receivables concentration with EGPC
Heavy exposure to a single counterparty concentrates collection and sovereign payment risk, making working capital and investment capacity dependent on EGPC's payment behaviour. Prolonged delays could impair liquidity, capex execution and credit metrics over months.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength / net cash position
A net cash position with minimal outstanding facility exposure materially reduces refinancing risk and provides durable financial flexibility. This supports disciplined capex, bolt‑on M&A or buffer through commodity cycles, improving resilience vs highly leveraged peers.
Read all positive factors
Capricorn Energy PLC (CNE) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£230.53M
Dividend YieldN/A
Average Volume (3M)128.28K
Price to Earnings (P/E)9.3
Beta (1Y)0.79
Revenue Growth-32.66%
EPS Growth72.67%
CountryUK
Employees45
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)0.27
Shares Outstanding70,558,340
10 Day Avg. Volume86,270
30 Day Avg. Volume128,279
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)0.48
Price to Sales (P/S)1.31
P/FCF Ratio2.65
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£360.00Price Target Upside9.09% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.13
Revenue Forecast (FY)£175.27M
Capricorn Energy PLC Business Overview & Revenue Model
Company Description
Capricorn Energy PLC operates as an independent oil and gas exploration, development, and production company. The company holds a portfolio of exploration, development, and production assets in the United Kingdom, Israel, Egypt, Mauritania, Mexico...
How the Company Makes Money
Capricorn Energy makes money primarily from upstream oil and gas activities. Its core revenue stream is the sale of produced hydrocarbons (crude oil, condensate, and/or natural gas) from fields in which it holds working interests; revenue is typic...
Capricorn Energy PLC Earnings Call Summary
Earnings Call Date:Mar 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Sep 08, 2026
Earnings Call Sentiment Positive
Overall the call communicated a clear operational and financial turnaround: strong production performance, substantial reserve replacement (277%), significant collections ($217M) and a materially improved balance sheet with net cash of $103M. Key positives include EGPC Board approval for concession consolidation (awaiting ratification), disciplined capex and a path to grow liquids exposure. Main concerns are concentrated receivables exposure to EGPC ($86M outstanding), dependency on ratification to unlock full value, near‑term production interruptions from two planned turnarounds and external risks (geopolitics and takeover speculation). On balance, the positives — notably cash recovery, near debt‑free position and strong reserve replacement — outweigh the operational and political risks.Positive Updates
Strong Production Performance
Average production of just over 20,000 BOE/d (working interest basis) in 2025, achieving the higher end of management's guidance and setting a solid exit rate supported by development drilling and reservoir management.
Negative Updates
Receivables Concentration and Ongoing Collection Risk
Despite material collections, outstanding receivables remain $86 million and the company has a single customer for oil/gas (EGPC) — ongoing reliance on timely EGPC payments is a principal financial risk and key to sustaining investment.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Production Performance
Average production of just over 20,000 BOE/d (working interest basis) in 2025, achieving the higher end of management's guidance and setting a solid exit rate supported by development drilling and reservoir management.
Read all positive updates
Company Guidance
Capricorn’s 2026 guidance calls for OpEx of $5–$7/boe, production of 18,000–22,000 boe/d with a slightly higher liquids weighting of ~43% (up from ~40% in 2025), and capital investment of $85–$95m focused on liquids (after investing $77m in 2025); management cautioned two planned turnarounds will affect full‑year volumes and said ratification of the merged concession is critical to unlock acreage and further development. For context the business exited 2025 at just over 20,000 boe/d, with 40% liquids, recorded $217m of collections in 2025 leaving $86m receivables and ~$81m Egypt net cash flow, finished the year with ~$103m net cash (YOY cash up $80m) and only ~$30m outstanding on a ring‑fenced junior facility after early repayment of the senior facility. Operational highlights underpinning the guidance include a ~277% reserves replacement ratio (replacement of >250% of 2025 production), ~332mm boe unrisked 2C resources (≈80mm boe GLJ‑evaluated), an estimated ~$5/boe netback uplift at $80/bbl Brent, and a stated M&A return hurdle of roughly 25%.Capricorn Energy PLC Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
78
Positive
Cash Flow
71
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 137.73M | 177.90M | 255.10M | 229.60M | 57.10M |
| Gross Profit | 31.34M | 51.20M | 75.10M | 149.20M | 20.80M |
| EBITDA | 7.35M | 116.30M | 41.70M | 3.30M | 950.40M |
| Net Income | 19.40M | 10.60M | -144.00M | -67.10M | 894.50M |
Balance Sheet | |||||
| Total Assets | 513.19M | 619.70M | 667.60M | 1.53B | 2.25B |
| Cash, Cash Equivalents and Short-Term Investments | 132.75M | 123.40M | 189.50M | 891.20M | 400.70M |
| Total Debt | 16.01M | 105.40M | 119.20M | 162.90M | 180.70M |
| Total Liabilities | 139.75M | 270.40M | 261.10M | 341.40M | 447.80M |
| Stockholders Equity | 373.44M | 349.30M | 406.50M | 1.12B | 1.80B |
Cash Flow | |||||
| Free Cash Flow | 68.00M | 44.50M | -100.80M | -10.40M | 153.00M |
| Operating Cash Flow | 146.31M | 86.10M | -39.90M | 63.50M | 179.90M |
| Investing Cash Flow | -62.38M | -51.30M | 120.80M | 963.90M | -296.00M |
| Financing Cash Flow | -74.94M | -97.30M | -646.20M | -579.60M | -147.90M |
Capricorn Energy PLC Technical Analysis
Positive
330.00
Price Trends
263.97
Positive
232.63
Positive
222.84
Positive
Market Momentum
14.34
Negative
78.57
Negative
92.23
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:CNE, the sentiment is Positive. The current price of 330 is above the 20-day moving average (MA) of 278.02, above the 50-day MA of 263.97, and above the 200-day MA of 222.84, indicating a bullish trend. The MACD of 14.34 indicates Negative momentum. The RSI at 78.57 is Negative, neither overbought nor oversold. The STOCH value of 92.23 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:CNE.
Capricorn Energy PLC Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | £116.34M | -17.40 | 1.89% | 6.46% | -9.43% | ― | |
71 Outperform | £230.53M | 9.29 | 0.66% | ― | -32.66% | 72.67% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
56 Neutral | £368.34M | 166.34 | 0.54% | 4.36% | -18.05% | -634.88% | |
56 Neutral | £189.69M | -1.99 | 57.02% | ― | -32.47% | -1490.91% | |
50 Neutral | £142.90M | -24.27 | -11.54% | ― | -0.20% | -25.68% | |
44 Neutral | £203.64M | -3.20 | -136.50% | ― | -16.87% | 21.18% |
* Energy Sector Average
GB:CNE
Capricorn Energy PLC
330.00
111.00
50.68%
GB:GENL
Genel Energy
51.90
-6.60
-11.28%
GB:ENQ
Enquest
19.76
5.89
42.50%
GB:TLW
Tullow Oil
12.86
-3.32
-20.52%
GB:PHAR
Pharos Energy
28.20
9.42
50.18%
GB:KIST
Kistos PLC
245.00
96.50
64.98%
Capricorn Energy PLC Corporate Events
Regulatory Filings and Compliance
Capricorn Energy Confirms Total Voting Rights and Share Capital Structure
Neutral
Mar 31, 2026
Capricorn Energy PLC announced that, as of 31 March 2026, it has 70,558,339 ordinary shares in issue, each carrying one voting right, and holds no shares in treasury. The disclosed share count establishes the official denominator for investors to ...
Business Operations and StrategyRegulatory Filings and Compliance
Capricorn Wins Ratification of Extended Western Desert Concession in Egypt
Positive
Mar 30, 2026
Capricorn Energy has announced that Egypt’s House of Representatives has ratified a consolidated and amended concession agreement covering eight of its Western Desert concessions, in which it holds a 50% stake alongside operator Cheiron. The...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Capricorn Energy Leans on Egyptian Concession Merger to Drive Cash-Generative Growth
Positive
Mar 26, 2026
Capricorn Energy reported strong operational and financial progress in 2025, driven by its Egyptian assets and a landmark merger of eight concessions into a single agreement that improves fiscal terms and extends development potential. The merged ...
Business Operations and StrategyM&A Transactions
Capricorn Energy Rejects Dragon Oil Bids for Western Desert Assets as Undervalued
Neutral
Mar 24, 2026
Capricorn Energy has disclosed that it has received multiple proposals from Dragon Oil to acquire its Western Desert assets, following recent press speculation. After evaluating the latest offer, the board concluded it does not reflect the underly...
Business Operations and StrategyM&A Transactions
Capricorn Energy Confirms Possible All-Cash Takeover Approach
Neutral
Mar 11, 2026
Capricorn Energy has confirmed it received multiple unsolicited, non-binding proposals from Alamadiyaf al-Masiyyah for Trading LLC, part of the Cafani Group, for a possible all-cash acquisition of its entire issued and to-be-issued share capital. ...
Business Operations and StrategyFinancial Disclosures
Capricorn Energy to Host Online Investor Presentation on FY2025 Results
Positive
Mar 11, 2026
Capricorn Energy PLC has announced that CEO Randy Neely will host a live investor presentation on 26 March 2026 to discuss the company’s FY2025 results. The virtual event, held via the Investor Meet Company platform, is open to existing and ...
Regulatory Filings and Compliance
Capricorn Energy Updates Total Voting Rights and Shares in Issue
Neutral
Feb 27, 2026
Capricorn Energy PLC reported that, as of 27 February 2026, it has 70,558,339 ordinary shares in issue, each carrying one voting right, and confirmed that it holds no shares in treasury. The updated share and voting rights figure provides the deno...
Business Operations and StrategyFinancial Disclosures
Capricorn Energy Builds Cash, Lifts Output as It Prepares Egyptian Concession Expansion
Positive
Feb 23, 2026
Capricorn Energy reported 2025 working-interest production of 20,024 boepd, slightly above guidance, supported by successful development drilling and waterflooding at its Badr El Din concession in Egypt. The group generated $119m of revenue, net c...
Regulatory Filings and Compliance
Capricorn Energy Confirms Total Voting Rights and Share Capital Structure
Neutral
Jan 30, 2026
Capricorn Energy PLC has confirmed that, as of 30 January 2026, it has 70,558,339 ordinary shares in issue, each carrying one voting right, and that it holds no shares in treasury. The updated total voting rights figure provides the denominator in...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Capricorn Energy Beats 2025 Production Guidance and Strengthens Balance Sheet
Positive
Jan 5, 2026
Capricorn Energy reported that its 2025 working interest production averaged 20,175 boepd, above guidance, with a year-end rate of 21,003 boepd driven by new development wells and a successful waterflood in the Badr El Din field, while promising e...
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.