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Butn Limited
(Sydney:BTN)
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Rating:38Underperform
Price Target:
AU$0.01
▲(0.00% Upside)
Action:Downgraded
Date:08/28/26
The score is weighed down primarily by high balance-sheet leverage, continued net losses, and weak/negative recent cash flow, which together point to elevated financial risk. Technical indicators also show a pronounced downtrend with negative momentum. Improving operating margins and the recent revenue rebound provide some support but are not yet strong enough to offset the leverage and profitability/cash-flow concerns.
Positive Factors
Operating margins
Strong EBIT and EBITDA margins show that the core financing operation can produce meaningful operating earnings when funding volumes and pricing are supportive. This provides a foundation for future scale, although the benefit must still translate into consistent bottom-line profitability.
Negative Factors
High leverage
Debt materially exceeds equity, leaving the company with limited balance-sheet resilience relative to its financing obligations. High leverage can restrict strategic flexibility, increase dependence on continued funding access, and magnify the effect of losses or weaker receivables performance.
Read all positive and negative factors
Positive Factors
Negative Factors
Operating margins
Strong EBIT and EBITDA margins show that the core financing operation can produce meaningful operating earnings when funding volumes and pricing are supportive. This provides a foundation for future scale, although the benefit must still translate into consistent bottom-line profitability.
Read all positive factors
Butn Limited (BTN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$4.20M
Dividend YieldN/A
Average Volume (3M)563.94K
Price to Earnings (P/E)―
Beta (1Y)0.62
Revenue Growth4.55%
EPS Growth-6.32%
CountryAU
Employees13
SectorFinancial
Sector Strength70
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)-0.01
Shares Outstanding381,716,950
10 Day Avg. Volume10,749
30 Day Avg. Volume563,941
Financial Highlights & Ratios
PEG Ratio-0.24
Price to Book (P/B)0.49
Price to Sales (P/S)0.37
P/FCF Ratio-3.42
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)N/A
Butn Limited Business Overview & Revenue Model
Company Description
Butn Limited, an Australian company, specializes in providing diverse transactional funding solutions tailored for small and medium-sized enterprises. Its comprehensive range of products includes Butn Pay, designed to help organizations manage pay...
How the Company Makes Money
Butn Limited makes money primarily by providing financing against invoices/receivables (invoice finance/trade receivables funding). When Butn advances funds to a customer against an invoice, it earns revenue through fees and/or interest-like charg...
Butn Limited Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
24
Negative
Cash Flow
28
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 15.27M | 333.85K | 13.49M | 11.85M | 5.42M |
| Gross Profit | 15.01M | -7.87M | 13.49M | 11.87M | 5.60M |
| EBITDA | 2.98M | 5.81M | -829.98K | 1.72M | -3.64M |
| Net Income | -3.83M | -2.66M | -12.33M | -6.53M | -8.66M |
Balance Sheet | |||||
| Total Assets | 99.60M | 107.54M | 91.27M | 98.98M | 77.82M |
| Cash, Cash Equivalents and Short-Term Investments | 15.30M | 20.32M | 13.36M | 14.67M | 15.78M |
| Total Debt | 83.87M | 91.00M | 79.73M | 79.52M | 56.35M |
| Total Liabilities | 88.15M | 95.39M | 83.16M | 83.34M | 59.80M |
| Stockholders Equity | 11.46M | 12.14M | 8.11M | 15.64M | 18.02M |
Cash Flow | |||||
| Free Cash Flow | -1.66M | 966.21K | -3.16M | -1.83M | -7.09M |
| Operating Cash Flow | -1.66M | 1.74M | -2.36M | -673.74K | -3.85M |
| Investing Cash Flow | 1.87M | -14.79M | -2.64M | -26.09M | -29.48M |
| Financing Cash Flow | -3.25M | 15.85M | 3.65M | 25.61M | 33.60M |
Butn Limited Technical Analysis
Negative
0.01
Price Trends
0.01
Negative
0.02
Negative
0.03
Negative
Market Momentum
>-0.01
Negative
26.33
Positive
41.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BTN, the sentiment is Negative. The current price of 0.01 is above the 20-day moving average (MA) of <0.01, below the 50-day MA of 0.01, and below the 200-day MA of 0.03, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 26.33 is Positive, neither overbought nor oversold. The STOCH value of 41.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:BTN.
Butn Limited Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
58 Neutral | AU$73.65M | 7.24 | 22.86% | ― | 9.62% | 82.62% | |
54 Neutral | AU$212.34M | 13.13 | 2.93% | 4.82% | -4.83% | -55.49% | |
52 Neutral | AU$2.23B | 19.54 | 17.40% | ― | 24.44% | 46.79% | |
52 Neutral | AU$47.51M | -1.17 | -41.92% | ― | 28.46% | 40.67% | |
47 Neutral | AU$66.99M | -8.84 | -16.10% | 3.00% | 18.86% | 17.31% | |
38 Underperform | AU$4.20M | -1.08 | -30.56% | ― | 4.55% | -6.32% |
* Financial Sector Average
AU:BTN
Butn Limited
0.01
-0.08
-87.91%
AU:HMY
Harmoney Corp Ltd
0.72
-0.22
-23.94%
AU:HUM
Humm Group Limited
0.42
-0.17
-29.06%
AU:WZR
Wisr Ltd.
0.04
<0.01
26.67%
AU:ZIP
Zip Co Ltd.
1.79
-2.08
-53.75%
AU:MME
MoneyMe Ltd.
0.06
-0.05
-47.27%
Butn Limited Corporate Events
ASX Lifts Trading Suspension on Butn After Finance Contract Update
Oct 30, 2026
The ASX has lifted the suspension of trading in Butn Limited securities following the release of an announcement on the renewal of a finance contract and the receipt of non‑binding offers. The move enables BTN shares to resume quotation, sig...
Butn Extends MYOB Invoice Finance Deal as It Weighs Takeover Offers
Oct 30, 2026
Butn Limited has secured a renewal of its partnership with MYOB Australia, extending the MYOB|Butn invoice finance agreement to November 2027 and ensuring SMEs continue to access embedded, instant invoice financing within MYOB’s business man...
Butn Shares Suspended Pending Announcement on Material Contract
Oct 27, 2026
The Australian Securities Exchange has suspended Butn Limited’s shares from quotation at the company’s request, in line with Listing Rule 17.2. Trading in BTN securities will remain halted while the company prepares a market announceme...
Butn Sets November Date for In-Person 2026 AGM in Melbourne
Oct 26, 2026
Butn Limited has announced that its 2026 Annual General Meeting will be held in person on 30 November 2026 at 2:00pm in Melbourne, at the company’s offices on William Street in Balaclava, reflecting a continued emphasis on direct shareholder...
Butn Requests ASX Trading Halt Ahead of Material Contract Announcement
Oct 26, 2026
Trading in Butn Limited shares has been placed in a halt on the ASX at the company’s request, as it prepares to release an announcement concerning a material contract. The halt will remain in force until either the disclosure is made or norm...
Butn Limited lets 107,625 performance rights lapse after conditions unmet
Oct 12, 2026
Butn Limited has reported the lapse of 107,625 performance rights, classified under the ASX code BTNAL, after the conditions attached to these rights were not met or became incapable of being satisfied. The cessation, effective 21 August 2026, ind...
Butn sets November date for AGM and director nominations
Sep 25, 2026
Butn Limited has scheduled its 2026 Annual General Meeting for 30 November 2026 at 2:00pm AEST, with further details to be provided to shareholders in a forthcoming Notice of Meeting available via the company’s investor website. The board ha...
Butn affirms ASX governance compliance and sets diversity targets
Aug 27, 2026
Butn Limited has issued its latest corporate governance statement confirming full compliance with the ASX Corporate Governance Principles and Recommendations (4th Edition) for the year ended 30 June 2026. The company details board and committee ch...
Butn Files 2026 Corporate Governance Statement With ASX
Aug 27, 2026
Butn Limited has confirmed the lodgement of its corporate governance statement and Appendix 4G for the year ended 30 June 2026, making the statement available via its investor website. The document outlines the company’s compliance with ASX ...
Butn lifts FY26 revenue to record high as platform growth and restructuring sharpen focus
Aug 27, 2026
Butn Limited reported record FY26 revenue of $15.3 million and originations of $528 million, supported by a stable margin and low write-offs, underscoring robust demand for its funding solutions. Platform originations rose 45 per cent year on year...
Butn Limited Releases Consolidated Financial Report for Year Ended 30 June 2026
Aug 27, 2026
Butn Limited, an Australian company limited by shares, reports its consolidated financial statements in Australian dollars, covering the parent and all controlled entities. The group is headquartered in Melbourne, with its principal place of busin...
Butn lifts revenue but FY26 loss deepens, no dividend declared
Aug 27, 2026
Butn Limited reported a 5% increase in revenue to $15.27 million for the year to 30 June 2026, but its net loss widened to $3.83 million, a 44% deterioration from the prior year. The company’s net tangible asset per share fell 11% to $0.028,...
Butn to Outline SME Funding Strategy in Sharewise Investor Webinar
Aug 3, 2026
Butn Limited will present at a Sharewise-hosted investor webinar on 4 August 2026, with CEO and founder Rael Ross outlining the company’s operations before a question-and-answer session. The event underscores Butn’s efforts to deepen 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.