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Blue Star Helium
(Sydney:BNL)
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Rating:43Neutral
Price Target:
AU$0.15
▲(1440.00% Upside)
Action:Reiterated
Date:10/23/26
The score is driven primarily by very weak financial performance—minimal and declining revenue, sustained losses, ongoing cash burn, and a sharp increase in debt alongside shrinking equity. With no usable technical indicators and a negative P/E (and no dividend yield), there are limited offsets to the elevated funding and execution risk.
Positive Factors
Focused helium development strategy
A defined focus on helium exploration, production, and processing gives the company a coherent development strategy rather than a broad and unfocused portfolio. If its Colorado resources are successfully advanced, the integrated model could support participation across appraisal, production, and industrial-gas supply.
Negative Factors
Declining and very small revenue base
Very small, volatile, and declining revenue shows that Blue Star has not yet established a dependable commercial earnings base. The 2025 deterioration limits internally generated funding, makes operating leverage difficult to achieve, and leaves future growth highly dependent on successful project advancement.
Read all positive and negative factors
Positive Factors
Negative Factors
Focused helium development strategy
A defined focus on helium exploration, production, and processing gives the company a coherent development strategy rather than a broad and unfocused portfolio. If its Colorado resources are successfully advanced, the integrated model could support participation across appraisal, production, and industrial-gas supply.
Read all positive factors
Blue Star Helium (BNL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$13.54M
Dividend YieldN/A
Average Volume (3M)606.74K
Price to Earnings (P/E)―
Beta (1Y)0.51
Revenue Growth-20.99%
EPS Growth-46.62%
CountryAU
Employees14
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-0.16
Shares Outstanding123,058,304
10 Day Avg. Volume606,738
30 Day Avg. Volume606,738
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)2.30
Price to Sales (P/S)3666.61
P/FCF Ratio-1.94
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)AU$4.00M
Blue Star Helium Business Overview & Revenue Model
Company Description
Blue Star Helium Limited operates as an independent enterprise specializing in the exploration and extraction of helium within Australia. The company, initially established in 1987, transitioned from its former name, Big Star Energy Limited, adopt...
Blue Star Helium Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
22
Negative
Cash Flow
15
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.05K | 4.96K | 8.66K | 8.01K | 12.33K | 8.54K |
| Gross Profit | -1.95M | -1.12M | -86.19K | 113.46K | 12.33K | -406.08K |
| EBITDA | -3.77M | -3.05M | -12.32M | -3.19M | -6.04M | -1.39M |
| Net Income | -13.07M | -8.50M | -13.06M | -3.13M | -6.02M | -1.40M |
Balance Sheet | ||||||
| Total Assets | 43.58M | 40.63M | 22.74M | 22.50M | 19.61M | 22.73M |
| Cash, Cash Equivalents and Short-Term Investments | 5.09M | 2.16M | 2.69M | 6.87M | 6.82M | 15.63M |
| Total Debt | 27.51M | 26.58M | 11.45M | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 32.64M | 32.72M | 12.32M | 583.18K | 878.04K | 818.71K |
| Stockholders Equity | 10.95M | 7.91M | 10.43M | 21.92M | 18.73M | 21.91M |
Cash Flow | ||||||
| Free Cash Flow | -5.22M | -9.38M | -3.10M | -6.78M | -8.85M | -4.33M |
| Operating Cash Flow | -5.26M | -3.12M | -2.82M | -3.20M | -2.15M | -1.53M |
| Investing Cash Flow | -5.00M | -1.34M | -2.59M | -3.56M | -6.70M | -2.80M |
| Financing Cash Flow | 14.44M | 3.96M | 1.32M | 6.98M | -4.43K | 15.06M |
Blue Star Helium 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% | |
52 Neutral | AU$39.14M | -7.88 | -13.43% | ― | 2.57% | -163.46% | |
46 Neutral | AU$9.04M | -15.00 | -1.65% | ― | ― | 37.50% | |
43 Neutral | AU$13.54M | -0.69 | -138.57% | ― | -20.99% | -46.62% | |
43 Neutral | AU$117.53M | -18.92 | -4.77% | ― | ― | -76.19% | |
43 Neutral | AU$139.70M | -14.48 | -31.46% | ― | ― | 12.12% | |
40 Underperform | AU$38.00M | -95.00 | -2.22% | ― | ― | 33.33% |
* Energy Sector Average
AU:BNL
Blue Star Helium
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―
―
―
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Jade Gas Holdings Limited
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Blue Star Helium Corporate Events
Blue Star Helium Wins Shareholder Backing for ASX Security Consolidation
Oct 22, 2026
Blue Star Helium has confirmed that shareholders have approved a consolidation of its securities, covering ordinary fully paid shares, several series of listed options and performance rights. The approval updates a prior announcement from 17 Septe...
Blue Star Helium Wins Shareholder Backing for 50-to-1 Stock Consolidation
Oct 22, 2026
Blue Star Helium has received shareholder approval to consolidate every 50 existing shares into one new share as part of a capital structure overhaul. The consolidation, already effective, will transition trading from pre-consolidation to post-con...
Blue Star Helium Shareholders Approve Capital Consolidation at General Meeting
Oct 20, 2026
Blue Star Helium reported that shareholders at a General Meeting approved all resolutions presented, including a capital consolidation measure. The strong voting support provides the company with formal backing to implement its proposed capital st...
Blue Star Helium Sets October General Meeting, Moves to Digital-First Shareholder Communication
Sep 17, 2026
Blue Star Helium has called a general meeting of shareholders to be held in Perth on 20 October 2026 at 10:00 a.m. AWST. The company is urging shareholders to lodge directed proxy forms and register attendance in advance, and to submit questions a...
Blue Star Helium Moves to Consolidate Capital Structure
Sep 17, 2026
Blue Star Helium Limited has announced a security consolidation affecting its ordinary shares, several classes of listed options, and performance rights, with the reorganisation scheduled around late October 2026. Trading in the post-consolidation...
Blue Star Helium Calls Shareholder Vote on Major Capital Consolidation
Sep 17, 2026
Blue Star Helium Limited, an ASX-listed helium explorer and developer, focuses on identifying and advancing helium resources for industrial and technology markets where supply security and specialty gas availability are critical. Its strategy aims...
Blue Star Helium Releases Half-Year Financial Report for June 2026
Sep 11, 2026
Blue Star Helium Limited and its controlled entities have released their half-year report for the period ended 30 June 2026. The document provides a consolidated overview of the group’s financial performance, cash flows, and equity movements...
Blue Star Helium Secures Extended Offtake for Pinon Canyon Output
Aug 30, 2026
Blue Star Helium has extended its helium purchase and sales agreement with its existing U.S. offtake partner, ensuring that all helium produced at the Pinon Canyon Plant for the Galactica Project will be sold under fixed pricing terms through 31 M...
Blue Star Helium Cancels 6 Million Lapsed Performance Rights
Aug 20, 2026
Blue Star Helium has disclosed the cessation of 6,000,000 performance rights, following the lapse of conditional rights that could not be satisfied. The rights, designated under ASX code BNLAE, ceased on 14 July 2026, reducing the pool of potentia...
Blue Star Helium Updates Investors on North American Project Portfolio
Aug 17, 2026
Blue Star Helium Ltd is an independent helium exploration and production company based in Australia with active operations and exploration across North America. The group is developing high‑grade helium and CO₂ projects in Las Animas C...
Blue Star Helium Ramps Up Deliveries from Pinon Canyon Plant
Aug 10, 2026
Blue Star Helium has delivered a third helium tube trailer from the Pinon Canyon Plant at its Galactica Project in Las Animas County, Colorado to its offtaker, with a fourth trailer on site and being filled. Regular scheduled trailer exchanges mar...
Blue Star Helium Moves Pinon Canyon Plant Into Stable Early Production Phase
Jul 30, 2026
Blue Star Helium reported that commissioning and optimisation of its Pinon Canyon helium plant in Colorado has progressed to a more stable, long-term operating mode, with improved uptime and routine runtime, shut-in and restart cycles. The capital...
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.