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BSA Limited (BSA) AI Stock Analysis

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AU:BSA

BSA Limited

(ASX:BSA)

Select Model
Rating:53Neutral
Price Target:AUD 0.21â–²(18.33% Upside)
Action:reiterated
Date:10/27/26

The score is primarily held back by unstable fundamentals—especially the sharp 2026 revenue decline and the reversal to negative operating/free cash flow—despite a meaningfully improved balance sheet. Technicals also remain weak with the stock in a downtrend. Valuation is the main positive, with a very low P/E indicating the market is already discounting significant risk.

Positive Factors
Balance-sheet improvementThe recent balance-sheet repair materially improves financial resilience, with positive equity and very low debt providing greater capacity to absorb operating volatility. This conservative structure can also preserve flexibility to fund projects and manage obligations without relying heavily on external financing.
Negative Factors
Sharp revenue contractionThe severe 2026 revenue decline indicates that demand or project activity is highly uneven, making the earnings base difficult to sustain across reporting periods. Continued top-line volatility could reduce operating leverage, weaken customer and project visibility, and make future profitability more dependent on irregular wins.

BSA Limited (BSA) vs. iShares MSCI Australia ETF (EWA)

-50%0%50%100%150%200%250%300%AU:BSA+50.00%EWA+13.51%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
AUD 14.45M
Dividend Yield
―
Average Volume (3M)
160.50K
Price to Earnings (P/E)
3.2
Beta (1Y)
2.36
Revenue Growth
-89.35%
EPS Growth
12.72%
Country
Australia
Employees
39
Sector
Industrials
Sector Strength
63
Industry
Engineering & Construction

BSA Limited Business Overview & Revenue Model

Company Description

BSA Limited, together with its subsidiaries, provides communications and utilities infrastructure, and property solutions in Australia. It engages in the design, building, installation, operation, and maintenance of communications networks; delivery...

How the Company Makes Money

null

BSA Limited Financial Statement Overview

Summary

Profitability has improved versus 2022 losses and the balance sheet is much healthier with rebuilt equity and very low debt, but revenue collapsed sharply in 2026 and cash flow turned negative after a strong 2025—raising concerns about earnings durability and cash-conversion volatility.

Income Statement

54Neutral

Balance Sheet

63Positive

Cash Flow

38Negative
Financial statement breakdown
BreakdownTTMJun 2026Jun 2025Jun 2024Jun 2023Jun 2022
Income Statement
Total Revenue30.56M30.56M286.98M255.46M239.67M244.10M
Gross Profit4.69M4.69M43.77M69.34M23.55M5.80M
EBITDA3.50M2.93M32.84M22.21M16.25M-38.98M
Net Income4.27M4.27M3.73M10.63M-2.96M-42.24M
Balance Sheet
Total Assets22.23M22.23M46.60M59.28M62.52M127.63M
Cash, Cash Equivalents and Short-Term Investments16.82M16.82M23.97M1.57M1.96M13.44M
Total Debt499.00K499.00K1.57M10.78M9.94M22.30M
Total Liabilities8.38M8.38M39.65M57.67M72.12M134.72M
Stockholders Equity13.85M13.85M6.95M1.60M-9.61M-7.09M
Cash Flow
Free Cash Flow-4.44M-4.44M30.43M-1.60M-20.02M-16.06M
Operating Cash Flow-4.44M-4.44M30.48M-1.05M-17.93M-13.77M
Investing Cash Flow-2.00M-2.00M-404.00K-1.46M17.72M-2.32M
Financing Cash Flow-703.00K-703.00K-7.67M2.12M-11.27M16.71M

BSA Limited Technical Analysis

Technical Analysis SentimentNegative
Last Price0.18

Price Trends

50DMA0.25Negative
100DMA0.28Negative
200DMA0.29Negative

Market Momentum

MACD-0.02Positive
RSI35.50Neutral
STOCH31.75Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BSA, the sentiment is Negative. The current price of 0.18 is below the 20-day moving average (MA) of 0.23, below the 50-day MA of 0.25, and below the 200-day MA of 0.29, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 35.50 is Neutral, neither overbought nor oversold. The STOCH value of 31.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:BSA.

BSA Limited Peers Comparison

Overall Rating

UnderperformOutperform
Sector (63)

Financial Indicators

AU:BSA against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
AU:FWDAU:FWD69NeutralAUD 184.17M83.271.60%9.31%-6.28%-84.39%
Sector *63Neutral$10.79B15.437.44%2.01%2.89%-14.66%
AU:VBCAU:VBC62NeutralAUD 62.83M5.869.88%1.21%38.37%-8.53%
AU:ACFAU:ACF61NeutralAUD 365.28M15.1510.64%3.95%30.67%-24.67%
AU:WSIAU:WSI60NeutralAUD 9.71M2.3612.64%―47.19%―
AU:BSAAU:BSA53NeutralAUD 14.45M3.1731.31%―-89.35%12.72%
AU:SNDAU:SND42NeutralAUD 108.01M-93.97-1.51%1.28%42.47%-144.81%

* Industrials Sector Average

Performance Comparison

0%100%200%AU:BSAAU:FWDAU:ACFAU:VBCAU:SNDAU:WSIDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
AU:BSA and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
AU:BSABSA Limited0.180.0650.00%
AU:FWDFleetwood Limited2.04-0.73-26.41%
AU:ACFAcrow Formwork and Construction Services Limited0.86-0.20-19.08%
AU:VBCVerbrec Ltd0.200.1089.81%
AU:SNDSaunders International Limited0.78-0.02-2.50%
AU:WSIWestStar Industrial Ltd.0.07-0.01-7.89%

BSA Limited Corporate Events

BSA posts weak quarter as nbn contract ends, moves to acquire Eonetics

Oct 28, 2026

BSA Limited reported a sharp downturn in first-quarter performance for FY2027 as revenue fell to $4.4 million, down 74% on the prior year, following the expiry of its nbn contract and delays in mobilising new projects. Underlying EBITDA swung to a lo...

BSA Limited Withdraws Investor Presentation and Issues Updated Disclosure

Oct 27, 2026

BSA Limited has withdrawn an investor presentation concerning its activities with Eonetics that was originally released to the ASX on 21 October 2026. The company has advised investors to disregard the earlier document and has issued an updated repla...

BSA Limited Sets November 2026 AGM With Key Governance Votes

Oct 22, 2026

BSA Limited has called its Annual General Meeting for 4:00 p.m. AEDT on 25 November 2026 at its Chatswood, New South Wales offices, inviting shareholders of record as of the evening of 23 November 2026 to attend or vote by proxy. The meeting will con...

BSA Director David Geraghty Lifts Indirect Shareholding in On-Market Trade

Oct 21, 2026

BSA Limited has reported a change in director interests, with non-executive director David Geraghty increasing his indirect shareholding via Roologic Pty Ltd. The transaction involved the on-market purchase of 120,000 fully paid ordinary shares for $...

BSA Moves to Acquire Eonetics in Tech-Driven Infrastructure Play

Oct 20, 2026

BSA Limited has proposed the acquisition of 100% of Eonetics’ issued share capital, aiming to combine its national infrastructure services and field workforce with Eonetics’ proprietary aerial technology and software capabilities. The tra...

BSA Director David Geraghty Increases Indirect Shareholding Through On-Market Trade

Oct 11, 2026

BSA Limited has notified the ASX of a change in director David Geraghty’s indirect interest in the company’s securities, following an on-market trade executed on 9 October 2026 through Roologic Pty Ltd, a company controlled by his spouse....

BSA Director Piers Lewis Increases Shareholding via Performance Rights Conversion

Oct 7, 2026

BSA Limited has disclosed changes to director Piers Lewis’s indirect interests in the company’s securities, reflecting a rebalancing between performance rights and fully paid ordinary shares. The notice outlines movements through Cranley...

BSA Director Daniel Raihani Increases Indirect Shareholding

Oct 7, 2026

BSA Limited has notified the market of changes to the indirect interests of director Daniel Raihani, held via 7 Enterprises Pty Ltd, in the company’s securities. The update details an increase in his holding of fully paid ordinary shares and th...

BSA Limited Confirms Compliance on 5 Million Share Issue

Oct 7, 2026

BSA Limited has issued 5,000,000 fully paid ordinary shares and has lodged the relevant Appendix 2A, confirming that these securities qualify for on-sale exemption under section 708A(5) of the Corporations Act 2001.The company states it is compliant...

BSA Limited Seeks ASX Quotation for 5 Million New Shares

Oct 7, 2026

BSA Limited has lodged a new application with the ASX for the quotation of additional ordinary fully paid shares. The company seeks quotation for 5,000,000 new securities, which were issued on 6 October 2026, expanding its pool of tradable equity on...

BSA Director David Geraghty Increases Indirect Shareholding via On-Market Purchases

Oct 5, 2026

BSA Limited has disclosed a change in the relevant interests of director David Geraghty, who increased his indirect holding of fully paid ordinary shares through Roologic Pty Ltd, a company controlled by his spouse. Between 1 and 5 October 2026, Gera...

BSA moves to acquire Eonetics to build integrated aerial infrastructure platform

Oct 1, 2026

BSA Limited is moving to expand its infrastructure technology capabilities through the proposed acquisition of Eonetics, an Australian aerial infrastructure specialist with proprietary tethered‑drone, software and remote infrastructure solution...

BSA extends ASX trading suspension ahead of material acquisition

Sep 30, 2026

BSA Limited has secured an extension to the voluntary suspension of trading in its securities on the ASX, effective from Wednesday, 30 September 2026. The move is linked to an upcoming announcement regarding a material acquisition for which the compa...

BSA Limited Seeks Trading Halt Ahead of Material Acquisition Announcement

Sep 24, 2026

BSA Limited has requested a trading halt in its securities on the ASX, pending the release of an announcement regarding a material acquisition. Trading in BSA shares will remain suspended until either the acquisition announcement is made or normal tr...

BSA Limited Completes On-Market Share Buy-Back Program

Sep 23, 2026

BSA Limited has completed an on-market share buy-back of its ordinary fully paid shares on the ASX, formally notifying the exchange with a final buy-back announcement dated 23 September 2026. The program authorised the repurchase of up to 7,530,026 s...

BSA Issues 560,165 Unquoted Performance Rights Under Employee Incentive Plan

Aug 28, 2026

BSA Limited has notified the market that it will issue 560,165 unquoted performance rights under its employee incentive scheme. The new securities, which will not be quoted on the ASX, were issued on 27 August 2026 and form part of the company’...

BSA Limited Files ASX Governance Statement and Appendix 4G for FY2026

Aug 20, 2026

BSA Limited has lodged its corporate governance statement and accompanying Appendix 4G with the ASX for the year ended 30 June 2026, confirming compliance with key ASX Corporate Governance Council recommendations for the period. The statement, approv...

BSA Limited Details 2026 Governance Framework and Diversity Focus

Aug 20, 2026

BSA Limited has confirmed its corporate governance framework for the 2026 financial year, stating broad compliance with the latest ASX Corporate Governance Principles and the Corporations Act, with only limited exceptions noted. The company details c...

BSA Limited Lifts Profit and Strengthens Assets Despite Revenue Slump

Aug 20, 2026

BSA Limited reported revenue and other income of $32.1 million for the year ended 30 June 2026, a sharp 89% decline from the prior year, but still delivered a 14% increase in profit after tax to $4.3 million. Earnings per share improved modestly, and...

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.

Date of analysis: Oct 27, 2026