Tamboran Resources Corporation (TBN) AI Stock Analysis

• Market Cap: $717.67M
• Dividend Yield: N/A
• Average Volume (3M): 44.30K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.34
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 39
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): -66.00
• Shares Outstanding: 22,639,513
• 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: 0.95
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -1.20K
• Enterprise Value/Ebitda: -18.65
• 1Y Price Target: $37.75
• Price Target Upside: 19.09% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): -170.39
• Revenue Forecast (FY): $14.32M

• Rating: 57 Neutral
• Price Target: $33.00 ▲(4.10% Upside)
• Action: Reiterated Date: 02/12/26
• Date: Action: Reiterated 02/12/26

The score is held back primarily by weak financial performance (minimal revenue, ongoing losses, and significant cash burn), partially offset by a stronger balance sheet and positive recent technical momentum. Supportive corporate events (PIPE financing and new CEO) help, while valuation remains unattractive/less meaningful due to negative earnings and no dividend.

Positive Factors

Balance sheet strength

Low leverage and a materially larger asset base provide durable financial flexibility for Tamboran to fund exploration and appraisal activities, absorb exploration setbacks, and negotiate joint-ventures or farm-outs without immediate refinancing pressure, supporting multi-month development optionality.

Recent equity financing

The $32M PIPE materially strengthens near-term liquidity, extending runway for drilling, appraisal, and pre-development work. Institutional placement backing reduces immediate funding urgency, enabling more deliberate farm-out or infrastructure negotiations rather than distressed asset sales.

Experienced leadership

Hiring a seasoned upstream executive with drill-and-development and capital markets experience increases the odds of effective project execution, JV formation and commercialization. Proven operator credibility can accelerate permitting, partner interest, and disciplined capex decisions over the coming months.

Negative Factors

Lack of commercial revenue

Tamboran remains essentially pre-commercial with negligible operating revenue while costs persist. Continued absence of material sales means fundamentals hinge on successful appraisal and infrastructure access; delays or poor results raise sustained dilution and execution risk over the medium term.

Negative cash generation

Large negative operating and free cash flow indicate ongoing capital consumption to fund exploration and development. Persistent cash burn requires repeated external funding and can limit timely investment in pipelines or processing, increasing the probability of dilutive financing or constrained project timelines.

Negative returns on equity

A deep negative ROE signals capital destruction rather than compounding, undermining long-term shareholder value. Unless Tamboran moves to sustained production or secures value-accretive farm-outs, ongoing losses will pressure equity issuance and investor appetite across the next several months.

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

Overall financials are weak due to minimal revenue (TTM ~$54k), persistent sizable losses (TTM net loss ~-$31.6M), and heavy ongoing cash burn (TTM operating cash flow ~-$35.2M; free cash flow ~-$96.5M). The key offset is a comparatively solid balance sheet with low leverage (debt-to-equity ~0.09) and a larger equity base, supporting near-term solvency despite negative returns on equity.

Income Statement

Income performance is weak. Annual revenue is reported at $0 for multiple years, and TTM (Trailing-Twelve-Months) revenue is minimal ($54k), indicating the business is still pre-commercial or not yet generating meaningful sales. Losses are persistent and sizable (TTM net loss about $31.6M; annual net losses also significant), with negative gross profit and negative operating results, which points to ongoing cost burn without a supporting revenue base. The main positive is that losses are not accelerating every year in a straight line (2023 vs. 2024 improved before worsening again in 2025), but overall profitability remains far from breakeven.

Balance Sheet

The balance sheet is a relative strength. Leverage is low with debt-to-equity around 0.09 in the latest periods, and equity has grown materially over time, supporting a larger asset base (TTM assets about $600.6M vs. $134.1M in 2022). The key weakness is that returns on equity are consistently negative due to ongoing net losses (TTM return on equity roughly -21.5%), meaning the company is consuming shareholder capital rather than compounding it. Overall, solvency looks manageable today, but continued losses could erode this cushion if funding conditions tighten.

Cash Flow

Cash generation is weak and volatile, consistent with an exploration-stage profile. Operating cash flow is negative across all periods (TTM about -$35.2M), and free cash flow is deeply negative (TTM about -$96.5M), reflecting heavy spending without offsetting operating inflows. Free cash flow deterioration in TTM (down meaningfully versus the prior annual period) highlights increasing cash needs. A partial offset is that negative free cash flow is aligned with reported losses (i.e., not driven by hidden working-capital benefits), but the core issue remains sustained cash burn and reliance on external financing.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-568.90K	-1.13M	-120.44K	-719.29K	-407.63K	0.00
EBITDA	-36.61M	-38.50M	-20.37M	-31.48M	-7.38M	-15.48M
Net Income	-25.02M	-36.90M	-21.92M	-32.03M	-7.83M	-23.82M
Balance Sheet
Total Assets	900.05M	446.46M	358.64M	182.85M	134.07M	112.57M
Cash, Cash Equivalents and Short-Term Investments	83.40M	39.44M	74.75M	7.06M	26.81M	63.08M
Total Debt	90.10M	26.40M	27.89M	479.70K	1.11M	1.47M
Total Liabilities	164.56M	57.01M	50.96M	22.27M	5.46M	8.20M
Stockholders Equity	537.82M	287.72M	262.72M	139.53M	128.61M	104.36M
Cash Flow
Free Cash Flow	-96.48M	-139.77M	-75.10M	-21.40M	-65.95M	-21.85M
Operating Cash Flow	-35.24M	-29.64M	-11.40M	-12.80M	-11.06M	-8.63M
Investing Cash Flow	-129.51M	-98.77M	-66.11M	-86.53M	-56.12M	-13.21M
Financing Cash Flow	203.19M	101.06M	146.39M	85.24M	31.11M	79.34M

Tamboran Resources Corporation Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 31.70
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 31.7 is above the 20-day moving average (MA) of 29.36, above the 50-day MA of 27.73, and above the 200-day MA of 23.78, indicating a bullish trend. The MACD of 1.01 indicates Negative momentum. The RSI at 68.43 is Neutral, neither overbought nor oversold. The STOCH value of 74.40 is Neutral, 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	$325.20M	19.02	12.07%	―	-6.03%	-54.59%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
REI	64 Neutral	$292.18M	-18.41	-1.91%	―	-15.44%	-113.21%
TBN	57 Neutral	$717.67M	-16.61	-13.73%	―	―	―
AMPY	52 Neutral	$232.33M	-8.30	-6.90%	―	-9.46%	-144.89%
WTI	50 Neutral	$394.26M	-2.68	―	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.