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Cullen Resources Limited
(Sydney:CUL)
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Rating:61Neutral
Price Target:
AU$0.01
▲(10.00% Upside)
Action:Reiterated
Date:09/29/26
The score is driven primarily by improved FY2026 fundamentals (profitability and positive operating/free cash flow) alongside a conservatively financed balance sheet with minimal leverage. Offsetting this is the historically volatile operating track record and limited technical and dividend-yield data, which reduces confidence in trend confirmation and valuation support.
Positive Factors
FY2026 earnings rebound
The return to positive earnings after several loss-making years marks a meaningful improvement in operating outcomes. If the company can sustain this profitability, it could strengthen internal funding capacity and improve its ability to advance exploration assets without relying solely on external capital.
Negative Factors
Volatile profitability and cash flow
The recent improvement has not yet established a dependable earnings or cash-generation pattern. Several prior years of losses and cash burn indicate that results can fluctuate materially, making future funding needs and the durability of FY2026 performance important ongoing risks.
Read all positive and negative factors
Positive Factors
Negative Factors
FY2026 earnings rebound
The return to positive earnings after several loss-making years marks a meaningful improvement in operating outcomes. If the company can sustain this profitability, it could strengthen internal funding capacity and improve its ability to advance exploration assets without relying solely on external capital.
Read all positive factors
Cullen Resources Limited (CUL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$4.16M
Dividend YieldN/A
Average Volume (3M)765.36K
Price to Earnings (P/E)12.0
Beta (1Y)1.05
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
Employees1
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)<0.01
Shares Outstanding693,401,860
10 Day Avg. Volume765,363
30 Day Avg. Volume765,363
Financial Highlights & Ratios
PEG Ratio-0.09
Price to Book (P/B)0.85
Price to Sales (P/S)2.68
P/FCF Ratio3.71
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
Cullen Resources Limited Business Overview & Revenue Model
Company Description
Cullen Resources Limited, through its various entities, conducts mineral exploration operations across Western Australia and Finland. The company's primary focus lies in the discovery of gold, lithium, nickel, copper, iron ore, platinum group elem...
How the Company Makes Money
CUL primarily makes money through exploration-stage value creation rather than recurring operating sales. Potential sources of value and cash generation include: (1) asset monetisation—selling all or part of exploration tenements/projects or recei...
Cullen Resources Limited Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
78
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.66M | 1.55M | 157.76K | 119.88K | 84.60K | 55.66K |
| Gross Profit | 319.00 | 1.55M | -319.00 | 119.88K | -12.65K | -12.65K |
| EBITDA | 572.75K | 1.13M | -902.00K | -286.00K | -1.15M | -1.37M |
| Net Income | 720.49K | 340.25K | -902.32K | -1.14M | -1.17M | -1.38M |
Balance Sheet | ||||||
| Total Assets | 5.76M | 5.07M | 4.82M | 4.87M | 5.40M | 5.38M |
| Cash, Cash Equivalents and Short-Term Investments | 967.74K | 293.46K | 7.38K | 91.93K | 588.11K | 594.56K |
| Total Debt | 0.00 | 0.00 | 60.00K | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 174.32K | 195.46K | 285.38K | 164.25K | 166.38K | 144.29K |
| Stockholders Equity | 5.58M | 4.88M | 4.54M | 4.70M | 5.23M | 5.24M |
Cash Flow | ||||||
| Free Cash Flow | 900.75K | 1.12M | -383.53K | -1.06M | -1.17M | -1.43M |
| Operating Cash Flow | 900.75K | 1.12M | -383.53K | -438.65K | -387.51K | -353.90K |
| Investing Cash Flow | -500.39K | -776.04K | -500.39K | -617.53K | -777.63K | -1.08M |
| Financing Cash Flow | 369.69K | -60.00K | 799.37K | 560.00K | 1.16M | 560.00K |
Cullen Resources Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | AU$4.16M | 12.00 | 6.51% | ― | ― | ― | |
46 Neutral | AU$4.73M | -0.73 | >-0.01% | ― | ― | 44.59% | |
43 Neutral | AU$4.01M | -0.47 | -72.11% | ― | -100.00% | -214.43% | |
43 Neutral | AU$4.17M | -3.33 | -12.43% | ― | ― | 61.62% | |
42 Neutral | AU$3.92M | -0.22 | -122.57% | ― | ― | 17.72% | |
40 Underperform | AU$4.41M | -0.74 | -56.98% | ― | ― | -75.00% |
* Basic Materials Sector Average
AU:CUL
Cullen Resources Limited
0.01
0.00
0.00%
AU:DTM
Dart Mining NL
0.01
-0.06
-85.33%
AU:TEM
Tempest Minerals Limited
0.01
>-0.01
-9.09%
AU:CMO
Cosmo Metals Limited
0.01
-0.01
-50.00%
AU:IMI
Infinity Mining Limited
0.01
0.00
0.00%
AU:KNG
Kingsland Minerals Ltd.
0.05
-0.08
-63.20%
Cullen Resources Limited Corporate Events
Cullen Resources files 2026 corporate governance statement with ASX
Sep 25, 2026
Cullen Resources Limited has lodged its corporate governance statement for the year ended 30 June 2026, confirming compliance with ASX Listing Rules on disclosure of governance practices. The statement, current as of 24 September 2026, is accessib...
Cullen Resources Highlights Ongoing Exploration at Bromus South
Sep 25, 2026
Cullen Resources Limited has reported on rock chip sampling work at its Bromus South project, indicating ongoing exploration efforts to evaluate the mineral potential of the area. The update underscores the company’s continued focus on field...
Cullen Confirms Gold-Silver-Copper Anomalies at Yardilla Prospects
Sep 13, 2026
Cullen Resources Limited is an Australian mineral exploration company focused on gold targets within the Yilgarn Craton, Western Australia. The company is advancing early-stage prospects such as Cleanthes and Lila at its Yardilla project, an area ...
Cullen JV Progress: Four Priority Gold Targets Defined at Mt Eureka South
Aug 24, 2026
Cullen Resources, which holds a 25% free-carried interest to pre-feasibility in the Mt Eureka Joint Venture managed by High Tech Metals, has reported progress at the Mt Eureka South Prospect in Western Australia. An integrated geophysical and geoc...
Cullen Resources Advances Yardilla and Finland Exploration, Sells Bromus Project
Jul 29, 2026
Cullen Resources reported that first-pass air core drilling at its Yardilla gold project in Western Australia has confirmed and extended historic Lila and Cleanthes gold anomalies associated with the regional Cundeelee Fault, bolstering the explor...
Cullen Highlights Start of Diamond Drilling at Finnish Gold-Copper JV
Jul 5, 2026
Cullen Resources has reported that joint venture manager Capella Minerals has commenced a reconnaissance diamond drilling program at the Killero W gold-copper project in northern Finland, where Cullen holds a 20% free-carried interest through to c...
Cullen Strengthens Finnish JV Position as Capella Hits Copper-Rich Sulfides at Killero
Jun 29, 2026
Cullen Resources, which holds a 20% free-carried interest to pre-feasibility in a Northern Finland joint venture, is advancing its exposure to copper and gold through projects operated by partner Capella Minerals. The company’s broader strat...
Glossary
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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.