FAR Ltd (AU:FAR)
ASX:FAR
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FAR Ltd
(Sydney:FAR)
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Rating:51Neutral
Price Target:
AU$0.29
▼(-30.71% Downside)
Action:Reiterated
Date:03/24/26
The score is held back primarily by weak financial performance—ongoing operating losses and sustained negative free cash flow—despite a low-debt balance sheet. Technicals are supportive with a clear uptrend, but overbought signals temper the outlook. Valuation is mixed: the very high dividend yield helps, while negative earnings (negative P/E) remain a key risk.
Positive Factors
Conservative balance sheet
A near-zero debt position and sizable equity provide durable solvency and financial flexibility. Over the next 2-6 months this reduces refinancing and covenant risk, preserves optionality for opportunistic investments or returns, and supports survival while operating cash remains weak.
Negative Factors
Persistent negative cash flow
Consistent operating cash outflows and negative free cash flow indicate structural cash burn and inability to self-fund. This forces reliance on contingent receipts, asset disposals or external capital, limiting reinvestment ability and increasing funding risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
A near-zero debt position and sizable equity provide durable solvency and financial flexibility. Over the next 2-6 months this reduces refinancing and covenant risk, preserves optionality for opportunistic investments or returns, and supports survival while operating cash remains weak.
Read all positive factors
FAR Ltd (FAR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$25.41M
Dividend Yield19.28%
Average Volume (3M)10.73K
Price to Earnings (P/E)―
Beta (1Y)-0.21
Revenue Growth52.30%
EPS Growth-102.42%
CountryAU
Employees3
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-0.01
Shares Outstanding92,409,645
10 Day Avg. Volume21,314
30 Day Avg. Volume10,726
Financial Highlights & Ratios
PEG Ratio0.24
Price to Book (P/B)0.62
Price to Sales (P/S)4.55
P/FCF Ratio-44.45
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
FAR Ltd Business Overview & Revenue Model
Company Description
FAR Limited operates as an oil and gas exploration and development company with primary assets in West Africa and Australia. The company holds a portfolio of exploration licenses in the Gambia and the Guinea-Bissau projects. It also holds a petrol...
How the Company Makes Money
FAR Ltd generates revenue primarily through its oil and gas exploration and production activities. The company seeks to discover commercially viable hydrocarbon reserves, which are then monetized either through direct production and sales or throu...
FAR Ltd Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
68
Positive
Cash Flow
24
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.63M | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -795.96K | 0.00 | -211.00K | -306.00K | -368.00K |
| EBITDA | -1.31M | -940.00K | -4.63M | -4.97M | -35.71M |
| Net Income | -1.03M | 44.08M | -6.54M | -5.19M | -44.78M |
Balance Sheet | |||||
| Total Assets | 41.13M | 46.95M | 3.08M | 52.30M | 57.05M |
| Cash, Cash Equivalents and Short-Term Investments | 1.93M | 1.73M | 2.95M | 33.72M | 55.46M |
| Total Debt | 0.00 | 27.93K | 177.56K | 612.00K | 70.74K |
| Total Liabilities | 32.38K | 86.83K | 285.32K | 2.63M | 17.42M |
| Stockholders Equity | 41.09M | 46.87M | 2.79M | 33.69M | 39.63M |
Cash Flow | |||||
| Free Cash Flow | -575.78K | -912.36K | -4.57M | -30.08M | -35.18M |
| Operating Cash Flow | -575.78K | -912.36K | -4.57M | -30.05M | -25.15M |
| Investing Cash Flow | 5.73M | 2.37K | 1.01M | 339.00K | 116.10M |
| Financing Cash Flow | -5.00M | -158.97K | -26.58M | -1.04M | -58.28M |
FAR Ltd Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | AU$48.18M | 17.50 | 2.91% | ― | 14.68% | -3.39% | |
77 Outperform | AU$69.54M | 15.55 | 15.05% | ― | 15.14% | 20.59% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
58 Neutral | AU$50.44M | 11.17 | 11.28% | ― | 29.92% | 6000.00% | |
56 Neutral | AU$117.11M | -18.95 | -4.12% | ― | ― | -20.69% | |
51 Neutral | AU$25.41M | -18.18 | -2.42% | 19.28% | 52.30% | -102.42% | |
45 Neutral | AU$62.98M | -14.63 | -5.81% | ― | ― | 34.09% |
* Energy Sector Average
AU:FAR
FAR Ltd
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FAR Ltd Corporate Events
FAR Limited shareholders back board, pay and capital return at 2026 AGM
May 28, 2026
FAR Limited has released the voting outcomes of its 2026 Annual General Meeting, detailing shareholder decisions on key resolutions including the adoption of the remuneration report, the re-election of director Andrew Lilley, and a proposed capita...
FAR advances Senegal contingent payouts and settles Woodside claim
May 28, 2026
FAR Limited used its 2026 Annual General Meeting to highlight continued progress in monetizing contingent payments from the 2021 sale of its RSSD Project interest in Senegal to Woodside Energy. The company received a provisional 2024 contingent pa...
FAR Limited appoints new Company Secretary to oversee ASX compliance
May 21, 2026
FAR Limited has announced the appointment of Ms Sonya Tissera as Company Secretary, effective 21 May 2026, following team changes at its corporate secretarial services provider, Vistra (Australia) Pty Ltd. She replaces Mr Michael Sapountzis, who w...
FAR Limited Sets A$32.3m Capital Return as Sangomar Contingent Payment Nears
Apr 29, 2026
FAR Limited reported that production at the Sangomar oil field offshore Senegal, now operated by Woodside Energy, averaged 99,000 barrels per day in the March 2026 quarter with 99.9% reliability, and that the field is performing better than expect...
FAR Limited sets fully virtual 2026 AGM and urges early proxy voting
Apr 23, 2026
FAR Limited has called its 2026 Annual General Meeting for 28 May, to be held entirely online via the Computershare Meeting Platform, allowing shareholders to watch, vote, comment and ask questions in real time using their shareholder number and p...
Canadian Investor Group Exits as Substantial Holder in FAR Ltd
Apr 6, 2026
A group of Canada-based investors, including Hunsbury Capital Inc., Hunsbury Capital – Belco Special Situations Fund LP, NB7 Holdings Inc. and executive Nandeep Singh Bamrah, has notified FAR Ltd that it has ceased to be a substantial shareh...
FAR Limited Details 2025 Corporate Governance Framework and Compliance
Mar 17, 2026
FAR Limited has released its Corporate Governance Statement outlining how it complies with the ASX Corporate Governance Council’s principles and recommendations for the 2025 financial year, including where it departs from best practice and w...
FAR Limited Publishes 2025 Annual Report
Mar 17, 2026
FAR Limited has released its Annual Report for the year ended 31 December 2025, detailing the Chairman’s review, Directors’ report and full audited financial statements. The report package also includes notes to the accounts, a consoli...
FAR Limited plans AUD 0.35 per share capital return to investors
Mar 15, 2026
FAR Limited has announced a proposed cash return of capital to holders of its ordinary fully paid shares, with a payment of AUD 0.35 per security. Trading on an ex-return-of-capital basis is scheduled to commence on 2 June 2026, with a record date...
FAR to Return Capital After Provisional US$23.7m Sangomar Payment
Mar 15, 2026
FAR Limited has agreed with Woodside Energy to receive a provisional 2025 contingent payment of US$23.7 million tied to oil sales from the Sangomar project, following an initial US$11.5 million tranche received in 2025. The latest payment reflects...
Harvest Lane trims substantial stake in FAR Ltd
Mar 11, 2026
Harvest Lane Asset Management and its associated entities have reduced their substantial shareholding in FAR Ltd, lowering their voting power from 9.92% to 7.03% of the company’s ordinary shares. The change reflects disposals and adjustments...
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.