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Bhagwan Marine Ltd.
(Sydney:BWN)
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Rating:45Neutral
Price Target:
AU$0.25
â–¼(-37.75% Downside)
Action:Reiterated
Date:10/30/26
The score is held down primarily by weakening financial performance (profitability deterioration and higher leverage) and bearish technicals (price below key moving averages with negative MACD). Valuation further pressures the score due to an extremely high P/E, with only modest support coming from resilient operating cash flow and a ~3.14% dividend yield.
Positive Factors
Positive Free Cash Flow
Positive free cash flow in the latest year provides internally generated funding for operations and investment, reducing reliance on external capital. Stable operating cash flow also offers a more durable support to the business than reported earnings alone during a period of weaker profitability.
Negative Factors
Revenue Contraction
A sharp annual revenue decline signals weaker demand, activity, or customer volumes across the company’s marine services operations. If sustained, lower revenue reduces operating leverage, limits the ability to absorb fixed costs, and makes a return to stronger earnings more difficult.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive Free Cash Flow
Positive free cash flow in the latest year provides internally generated funding for operations and investment, reducing reliance on external capital. Stable operating cash flow also offers a more durable support to the business than reported earnings alone during a period of weaker profitability.
Read all positive factors
Bhagwan Marine Ltd. (BWN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$101.47M
Dividend Yield3.14%
Average Volume (3M)212.57K
Price to Earnings (P/E)4112.9
Beta (1Y)1.29
Revenue Growth-16.65%
EPS Growth-101.32%
CountryAU
Employees1,000
SectorGeneral
Sector StrengthN/A
IndustryMarine Shipping
Share Statistics
EPS (TTM)<0.01
Shares Outstanding397,935,060
10 Day Avg. Volume225,903
30 Day Avg. Volume212,574
Financial Highlights & Ratios
PEG Ratio4.44
Price to Book (P/B)0.39
Price to Sales (P/S)0.36
P/FCF Ratio9.17
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.53Price Target Upside32.50% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.03
Revenue Forecast (FY)AU$301.34M
Bhagwan Marine Ltd. Business Overview & Revenue Model
Company Description
An Australian company founded in 1985 and headquartered in Perth, Bhagwan Marine Limited is a leading operator of marine vessels. With a substantial fleet of approximately 95 ships, the company delivers essential maritime services to a wide array ...
Bhagwan Marine Ltd. Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
44
Neutral
Cash Flow
58
Neutral
| Breakdown | Jun 2025 | Jun 2024 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 235.91M | 283.04M | 269.84M | 169.00M | 134.70M |
| Gross Profit | 22.58M | 264.76M | 247.03M | 57.40M | 40.20M |
| EBITDA | 44.16M | 50.58M | 32.50M | 37.69M | 26.47M |
| Net Income | -200.00K | 12.49M | 5.55M | 17.30M | 2.40M |
Balance Sheet | |||||
| Total Assets | 476.93M | 281.79M | 254.15M | 196.72M | 193.46M |
| Cash, Cash Equivalents and Short-Term Investments | 23.85M | 16.19M | 1.35M | 42.00K | 516.00K |
| Total Debt | 157.61M | 66.10M | 93.75M | 98.74M | 107.45M |
| Total Liabilities | 260.29M | 113.98M | 176.08M | 132.59M | 144.66M |
| Stockholders Equity | 216.65M | 167.81M | 78.08M | 64.13M | 48.80M |
Cash Flow | |||||
| Free Cash Flow | 9.14M | -2.54M | 15.39M | 17.33M | 9.22M |
| Operating Cash Flow | 36.38M | 35.82M | 29.04M | 28.89M | 18.26M |
| Investing Cash Flow | -118.01M | -37.46M | -12.06M | -11.31M | 565.00K |
| Financing Cash Flow | 89.29M | 16.48M | -15.66M | -18.05M | -18.64M |
Bhagwan Marine Ltd. Technical Analysis
Negative
0.40
Price Trends
0.29
Negative
0.29
Negative
0.34
Negative
Market Momentum
>-0.01
Positive
39.48
Neutral
54.79
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BWN, the sentiment is Negative. The current price of 0.4 is above the 20-day moving average (MA) of 0.29, above the 50-day MA of 0.29, and above the 200-day MA of 0.34, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 39.48 is Neutral, neither overbought nor oversold. The STOCH value of 54.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:BWN.
Bhagwan Marine Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
AU:BWN
Bhagwan Marine Ltd.
0.26
-0.32
-55.42%
AU:SST
Steamships Trading Co. Ltd.
9.32
-2.04
-17.98%
AU:CVL
Civmec Singapore Limited Shs Chess Deposit Interests Repr 1 Sh
1.63
0.22
15.93%
Bhagwan Marine Ltd. Corporate Events
Bhagwan Marine Director Boosts Holdings With New Performance Rights Grant
Oct 30, 2026
Bhagwan Marine Limited has disclosed a change in director Andrew Wackett’s indirect interests in the company’s securities. His holdings are structured through the Wackett Family Super Fund, for which he is a beneficiary and which uses ...
Bhagwan Marine Details Expanded Equity Interests for Director Kannikoski
Oct 30, 2026
Bhagwan Marine Limited has disclosed changes in director Loui Kannikoski’s relevant interests in securities following shareholder approvals at the company’s October 2026 meeting. The update details his extensive direct and indirect sha...
Bhagwan Marine Issues Nearly 2 Million Unquoted Performance Rights
Oct 30, 2026
Bhagwan Marine Limited has notified the market of its intention to issue 1,988,726 unquoted performance rights under an employee incentive scheme, effective October 30, 2026. The move underscores the company’s strategy of using equity-based ...
Bhagwan Marine Secures Full Shareholder Support at 2026 AGM
Oct 23, 2026
Bhagwan Marine Limited announced that all resolutions put to shareholders at its 2026 Annual General Meeting on 23 October 2026 were passed by poll. The AGM voting outcome underscores continued shareholder support for the company’s governanc...
Bhagwan Marine boosts Q1 FY27 revenue on high-margin subsea work and Riverside acquisition
Oct 22, 2026
Bhagwan Marine Limited reported a solid start to FY27, with first-quarter revenue of $81.3 million, up 14% on the previous quarter and 32% on the prior corresponding period, driven by high-margin Offshore Energy Resources (subsea) work and contri...
Bhagwan Marine issues detailed investor presentation and risk disclosures
Oct 20, 2026
Bhagwan Marine Limited has released an investor-focused presentation summarising its operations and financial results, prepared for delivery at the 15th Annual Australian Microcap Investment Conference. The materials, which complement the company&...
Bhagwan Marine Issues 3.6 Million Unquoted Performance Rights Under Staff Incentive Plan
Oct 14, 2026
Bhagwan Marine Ltd. has notified the market of the issue of 3,625,254 unquoted performance rights under its employee incentive scheme, effective 14 October 2026. These performance rights are subject to transfer restrictions and will not be quoted ...
Bhagwan Marine Sets Date for Third Post-Listing AGM and Streamlines Shareholder Access
Sep 18, 2026
Bhagwan Marine Limited has called its 2026 Annual General Meeting, the company’s third since listing on the ASX, to be held on 23 October 2026 at Clayton Utz’s offices in Perth, with shareholders able to attend in person or vote via pr...
Bhagwan Marine updates director Andrew Wackett’s indirect shareholding
Sep 1, 2026
Bhagwan Marine Ltd. disclosed a change in the indirect shareholding of director Andrew Wackett, reflecting an increase in his beneficial interest held via the Wackett Family Super Fund. The fund, for which Wackett is a beneficiary and Bond Street ...
Bhagwan Marine Director Increases Indirect Shareholding via Equity Award Exercise
Sep 1, 2026
Bhagwan Marine Limited disclosed a change in the indirect shareholding of director Tracey Horton, in accordance with ASX listing rules. Horton holds her interest through the JT Horton Super Fund, where she and Jonathan William Horton act as truste...
Bhagwan Marine Adds 783,586 Shares to ASX Quotation via Employee Scheme
Sep 1, 2026
Bhagwan Marine Ltd. has applied for quotation on the ASX of 783,586 fully paid ordinary shares issued on 1 September 2026, expanding its quoted securities base under the code BWN. The new shares were issued under an employee incentive scheme, indi...
Bhagwan Marine Sharpens Governance and Investor Outreach After ASX Listing
Aug 26, 2026
Bhagwan Marine Limited has outlined its corporate profile as Australia’s leading listed marine solutions company, highlighting its large, multifunctional fleet and recognised safety and operational standards across offshore energy, ports, in...
Bhagwan Marine Releases 2026 Full-Year Results Presentation with Detailed Disclaimers
Aug 26, 2026
Bhagwan Marine has released its 2026 full-year results presentation, outlining its operations and financial performance for existing and potential investors. The materials, available via its InvestorHub, include non-IFRS metrics intended to give a...
Bhagwan Marine boosts cash generation and growth platform with Riverside deal
Aug 26, 2026
Bhagwan Marine Limited is a leading Australian provider of marine solutions, including vessel services, marine construction support and offshore logistics for energy and resource-sector clients. The company is actively growing into emerging market...
Bhagwan Marine Posts FY26 Earnings Decline but Maintains Dividends and Expands Fleet
Aug 26, 2026
Bhagwan Marine Limited reported a weaker FY26 financial performance, with revenue from ordinary activities falling 16.6% to $235.9 million and statutory EBITDA down 15.3% to $42.5 million, compared with the prior year. Earnings before interest and...
Bhagwan Marine Sets 2026 AGM Date and Director Nomination Deadline
Aug 26, 2026
Bhagwan Marine Limited, Australia’s largest listed marine solutions provider, operates a diversified national fleet serving offshore energy, resources, ports, inshore and defence clients, supported by more than 1,000 in-house marine professi...
Bhagwan Marine Sets Date for FY26 Results Webinar
Aug 12, 2026
Bhagwan Marine Limited, Australia’s largest listed marine solutions company, operates a sizeable multi-functional fleet serving offshore energy, resources, ports, inshore and defence markets nationwide. The founder-led group, which includes ...
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.