Tamboran Resources Corporation (TBN) AI Stock Analysis

• Market Cap: $675.33M
• Dividend Yield: N/A
• Average Volume (3M): 44.30K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.32
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 39
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): -93.40
• Shares Outstanding: 22,556,040
• 10 Day Avg. Volume: 44,997
• 30 Day Avg. Volume: 44,305
• PEG Ratio: >-0.01
• Price to Book (P/B): 1.09
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -2.24
• Enterprise Value/Market Cap: 1.05
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -1.18K
• Enterprise Value/Ebitda: -20.42
• 1Y Price Target: $37.75
• Price Target Upside: 26.09% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 54 Neutral
• Price Target: $28.00 ▼(-6.48% Downside)

The score is held back primarily by weak financial performance (no revenue, widening losses, and significant cash burn). Technicals are supportive with an uptrend and positive momentum, and recent financings plus a new CEO improve near-term funding and execution capacity, but valuation remains constrained by ongoing losses and no dividend.

Positive Factors

Beetaloo-focused asset base

Tamboran’s concentrated acreage in the Beetaloo Sub-basin provides a clear, asset-driven strategy aligned with domestic/export gas markets. Ownership of high-potential unconventional gas resources underpins long-term value creation if appraisal and development succeed and infrastructure access is secured.

Experienced upstream leadership

The appointment of a veteran upstream executive with multi-decade unconventional shale and operational experience materially improves execution capability for appraisal-to-development transitions. Strong operator experience supports improved drilling efficiency, permitting navigation, and partnership negotiations over the next several quarters.

Modest leverage and larger equity base

A low debt burden and materially expanded equity provide financial flexibility for capital-intensive appraisal and early development. The stronger equity base reduces near-term default risk and supports continued investment while the company progresses toward production and potential partner-funded development or farm-outs.

Negative Factors

Pre-production, no revenue

Tamboran remains pre-production with zero revenue and mounting losses, meaning core commercial validation (gas sales, contracts) is unproven. Without production-based cash flow, the firm’s economics depend on successful appraisal results and third-party project backing, extending execution and monetization risk.

Deep negative cash flow and cash burn

Sustained negative operating and free cash flows signal heavy funding requirements for drilling and appraisal. Persistent cash burn increases dependency on external capital, can delay project timelines, and erodes optionality if market or financing conditions tighten during the multi-quarter development phase.

Reliance on dilutive equity financings

The company has funded development through equity raises (public offering and PIPE), which preserve liquidity but dilute existing shareholders. Ongoing dependence on dilutive financings to sustain multi-stage appraisal/development creates execution risk and potential governance pressure if capital needs persist before commercial production.

Tamboran Resources Corporation Business Overview & Revenue Model

Company Description

Tamboran Resources Corporation, a natural gas company, focuses on developing unconventional gas resources in the northern territory of Australia. Its assets include a 25% non-operated working interest in EP 161; a 38.75% working interest in EPs 76, 98, and 117; and a 100% working interest in EPs 136 and 143, as well as EP (A) 197, located in the Betaloo Basin. Tamboran Resources Corporation was founded in 2009 and is headquartered in Sydney, Australia.

How the Company Makes Money

Tamboran Resources Corporation makes money through the exploration and production of natural gas, which is then sold to domestic and international markets. The company's revenue model is centered around the successful discovery and extraction of natural gas reserves, which are then commercialized through sales agreements with utility companies, industrial consumers, and possibly through liquefied natural gas (LNG) export contracts. Key revenue streams include the sale of natural gas, potential joint ventures, and partnerships with other energy companies to develop and monetize gas resources. Strategic partnerships and technological collaborations also play a significant role in enhancing the company's operational efficiencies and expanding its market reach.

Tamboran Resources Corporation Financial Statement Overview

Summary

Pre-revenue with persistent and worsening losses (TTM net income about -39.2M) and accelerating cash burn (TTM operating cash flow about -39.3M; deeply negative free cash flow). Balance sheet is a relative offset with modest leverage (debt-to-equity ~0.09) and a larger equity base, but negative returns and cash burn remain the central risk.

Income Statement

The company reports no revenue across the annual periods and TTM (Trailing-Twelve-Months), indicating it is still pre-production. Losses are persistent and large, with net income at -39.2M in TTM (Trailing-Twelve-Months) versus -36.9M in FY2025 and -21.9M in FY2024, showing a worsening earnings trajectory recently. Profitability is weak with negative gross profit and deeply negative operating results, partially offset by some improvement versus FY2023’s larger loss.

Balance Sheet

The balance sheet is relatively supportive for an early-stage E&P: leverage is modest with debt-to-equity around 0.09 in FY2025/TTM (Trailing-Twelve-Months). Equity has grown materially over time (about 287.7M in FY2025 vs 139.5M in FY2023), providing a buffer to fund development. The key weakness is continued negative returns on equity (TTM about -25%), reflecting ongoing losses and the risk that equity could erode if cash burn persists.

Cash Flow

Cash generation is weak: operating cash flow is negative across all periods and worsened to -39.3M in TTM (Trailing-Twelve-Months) from -29.6M in FY2025 and -11.4M in FY2024. Free cash flow is deeply negative and deteriorated to -162.0M in TTM (Trailing-Twelve-Months), consistent with heavy investment and/or development spending. While free cash flow growth is positive in TTM (Trailing-Twelve-Months), the base remains meaningfully negative, and cash burn remains the central financial risk.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-599.64K	-1.13M	-120.44K	-719.29K	-407.63K	0.00
EBITDA	-34.59M	-38.50M	-20.37M	-31.48M	-7.38M	-15.48M
Net Income	-39.19M	-36.90M	-21.92M	-32.03M	-7.83M	-23.82M
Balance Sheet
Total Assets	446.46M	446.46M	358.64M	182.85M	134.07M	112.57M
Cash, Cash Equivalents and Short-Term Investments	45.16M	39.44M	74.75M	7.06M	26.81M	63.08M
Total Debt	26.40M	26.40M	27.89M	479.70K	1.11M	1.47M
Total Liabilities	57.01M	57.01M	50.96M	22.27M	5.46M	8.20M
Stockholders Equity	287.72M	287.72M	262.72M	139.53M	128.61M	104.36M
Cash Flow
Free Cash Flow	-162.00M	-139.77M	-75.10M	-21.40M	-65.95M	-21.85M
Operating Cash Flow	-39.28M	-29.64M	-11.40M	-12.80M	-11.06M	-8.63M
Investing Cash Flow	-112.71M	-98.77M	-66.11M	-86.53M	-56.12M	-13.21M
Financing Cash Flow	122.25M	101.06M	146.39M	85.24M	31.11M	79.34M

Tamboran Resources Corporation Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 29.94
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TBN, the sentiment is Positive. The current price of 29.94 is above the 20-day moving average (MA) of 27.46, above the 50-day MA of 25.87, and above the 200-day MA of 23.00, indicating a bullish trend. The MACD of 0.95 indicates Negative momentum. The RSI at 68.64 is Neutral, neither overbought nor oversold. The STOCH value of 81.49 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TBN.

Tamboran Resources Corporation Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PNRG	71 Outperform	$299.35M	17.51	12.07%	―	-6.03%	-54.59%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
REI	64 Neutral	$246.60M	-15.54	-1.91%	―	-15.44%	-113.21%
TBN	54 Neutral	$675.33M	-11.67	-13.73%	―	―	―
AMPY	52 Neutral	$203.19M	-7.26	-6.90%	―	-9.46%	-144.89%
WTI	50 Neutral	$322.85M	-2.20	―	2.41%	-6.92%	-126.24%

Tamboran Resources Corporation Corporate Events

Tamboran Resources Closes PIPE Financing to Bolster Capital

Tamboran Resources Corporation entered into subscription agreements on October 24, 2025 with certain investors for a $32 million private investment in public equity (PIPE), involving the sale of 1,524,377 common shares at $21.00 per share, subject to conditions including shareholder approval. At a special shareholders’ meeting held on January 13, 2026, investors approved the PIPE share sales, and the transaction subsequently closed on January 16, 2026, with the company issuing the agreed shares under private placement exemptions from U.S. registration rules, strengthening its capital base through an unregistered but institutionally oriented equity financing.

The most recent analyst rating on (TBN) stock is a Hold with a $28.00 price target. To see the full list of analyst forecasts on Tamboran Resources Corporation stock, see the TBN Stock Forecast page.

Tamboran Resources Names Todd Abbott as New CEO

On January 10, 2026, Tamboran Resources Corporation’s board appointed veteran upstream oil and gas executive Todd Abbott as Chief Executive Officer, effective January 15, 2026, with interim CEO Richard Stoneburner reverting to his role as non-executive chairman. Abbott, 52, brings more than 25 years of experience across unconventional shale operations, strategy and finance at Seneca Resources, Marathon Oil and Pioneer Natural Resources, and his compensation package includes a base salary of $550,000, a significant equity-based long-term incentive tied in part to relative total shareholder return, a large “make whole” RSU grant, relocation support to the company’s Brisbane headquarters and severance protections, underscoring Tamboran’s bid to secure seasoned leadership as it moves into the development phase of its Beetaloo Basin gas project.

The most recent analyst rating on (TBN) stock is a Hold with a $27.00 price target. To see the full list of analyst forecasts on Tamboran Resources Corporation stock, see the TBN Stock Forecast page.

Tamboran Resources Secures $52.5 Million in Stock Offering

On October 24, 2025, Tamboran Resources Corporation entered into subscription agreements with investors to sell up to $29 million of common stock, subject to shareholder approval and other conditions. Additionally, the company closed an underwritten public offering of 2,324,445 shares, raising approximately $52.5 million to fund its development plan and other corporate purposes. The offering, launched on October 22, 2025, included an option for underwriters to purchase additional shares, which was fully exercised. These financial maneuvers are expected to strengthen Tamboran’s operational capabilities and market positioning.

The most recent analyst rating on (TBN) stock is a Hold with a $38.00 price target. To see the full list of analyst forecasts on Tamboran Resources Corporation stock, see the TBN Stock Forecast page.