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Vulcan Energy Resources Ltd.
(Sydney:VUL)
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Rating:42Neutral
Price Target:
AU$0.99
▼(-63.99% Downside)
Action:Reiterated
Date:10/14/26
The score is primarily held down by weak financial performance (large losses, deteriorating 2025 revenue, and ongoing negative operating/free cash flow) and very bearish technicals (price far below major moving averages with negative MACD). A low-leverage balance sheet provides some support, but valuation remains challenged due to loss-making earnings (negative P/E) and no dividend data.
Positive Factors
Low financial leverage
A relatively low debt burden gives Vulcan greater financial flexibility than a highly leveraged developer, reducing balance-sheet pressure while its project is advanced. The sizable equity base may also provide capacity to support investment and absorb operating volatility.
Negative Factors
Deep and persistent losses
Persistent operating and net losses show that Vulcan has not yet demonstrated a sustainable profitable operating model. Continued losses can weaken internal funding capacity and increase the financial resources required before the planned lithium and geothermal businesses can generate durable earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Low financial leverage
A relatively low debt burden gives Vulcan greater financial flexibility than a highly leveraged developer, reducing balance-sheet pressure while its project is advanced. The sizable equity base may also provide capacity to support investment and absorb operating volatility.
Read all positive factors
Vulcan Energy Resources Ltd. (VUL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$548.07M
Dividend YieldN/A
Average Volume (3M)4.47M
Price to Earnings (P/E)―
Beta (1Y)1.74
Revenue Growth-33.21%
EPS Growth-21.79%
CountryAU
Employees371
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.34
Shares Outstanding478,660,740
10 Day Avg. Volume5,002,685
30 Day Avg. Volume4,468,977
Financial Highlights & Ratios
PEG Ratio-0.27
Price to Book (P/B)0.69
Price to Sales (P/S)80.65
P/FCF Ratio-5.06
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$7.25Price Target Upside162.68% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.06
Revenue Forecast (FY)AU$7.00M
Vulcan Energy Resources Ltd. Business Overview & Revenue Model
Company Description
Vulcan Energy Resources Ltd. operates as a lithium producer with net zero greenhouse gas emissions. Its Zero Carbon Lithium project intends to produce a battery-quality lithium hydroxide chemical product from its combined geothermal energy and lit...
How the Company Makes Money
Vulcan’s intended revenue model is to monetize lithium produced from geothermal brine resources and, where applicable, to generate additional income from geothermal energy co-produced from the same brine system. The primary expected revenue stream...
Vulcan Energy Resources Ltd. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
74
Positive
Cash Flow
29
Negative
| Breakdown | Dec 2025 | Dec 2025 | Dec 2024 | Dec 2023 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 7.31M | 8.12M | 14.13M | 6.78M | 3.80M |
| Gross Profit | -30.13M | 7.37M | 13.66M | 4.19M | 1.29M |
| EBITDA | -45.83M | -38.30M | -29.58M | -34.45M | -6.88M |
| Net Income | -69.17M | -42.36M | -26.96M | -26.96M | -6.73M |
Balance Sheet | |||||
| Total Assets | 957.35M | 381.03M | 310.58M | 393.65M | 83.18M |
| Cash, Cash Equivalents and Short-Term Investments | 518.02M | 97.05M | 60.58M | 211.05M | 175.42M |
| Total Debt | 40.85M | 3.85M | 4.06M | 3.32M | 3.00M |
| Total Liabilities | 100.10M | 29.48M | 22.23M | 26.71M | 1.74M |
| Stockholders Equity | 857.25M | 351.53M | 288.34M | 366.94M | 247.32M |
Cash Flow | |||||
| Free Cash Flow | -116.57M | -100.99M | -97.96M | -57.52M | -28.60M |
| Operating Cash Flow | -68.65M | -30.68M | -24.33M | -11.25M | -7.46M |
| Investing Cash Flow | -65.96M | -75.98M | -92.46M | -64.36M | -4.48M |
| Financing Cash Flow | 558.20M | 125.15M | 62.76M | 172.05M | 74.13M |
Vulcan Energy Resources Ltd. Technical Analysis
Negative
2.76
Price Trends
2.04
Negative
2.49
Negative
3.09
Negative
Market Momentum
-0.28
Negative
22.64
Positive
25.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:VUL, the sentiment is Negative. The current price of 2.76 is above the 20-day moving average (MA) of 1.39, above the 50-day MA of 2.04, and below the 200-day MA of 3.09, indicating a bearish trend. The MACD of -0.28 indicates Negative momentum. The RSI at 22.64 is Positive, neither overbought nor oversold. The STOCH value of 25.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:VUL.
Vulcan Energy Resources Ltd. 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% | |
51 Neutral | AU$25.27M | -13.69 | -13.41% | ― | ― | 37.54% | |
47 Neutral | AU$1.76B | 18.90 | 29.67% | ― | ― | ― | |
45 Neutral | AU$680.92M | 6.00 | 7.25% | ― | -8.06% | ― | |
44 Neutral | AU$1.40B | 256.36 | 5.65% | ― | 150.47% | ― | |
43 Neutral | AU$502.60M | -6.45 | -52.04% | ― | ― | ― | |
42 Neutral | AU$548.07M | -2.48 | -7.06% | ― | -33.21% | -21.79% |
* Basic Materials Sector Average
AU:VUL
Vulcan Energy Resources Ltd.
1.15
-4.16
-78.41%
AU:ELV
Elevra Lithium
3.54
-0.48
-11.94%
AU:EQR
EQ Resources Limited
0.27
0.22
486.96%
AU:MI6
Minerals 260 Limited
0.71
0.41
136.67%
AU:HTM
High-Tech Metals Limited
0.24
-0.08
-25.00%
AU:BRE
Brazilian Rare Earths Ltd.
1.82
-3.43
-65.33%
Vulcan Energy Resources Ltd. Corporate Events
Vulcan Energy Details Final Director Interest as Dr Wedin Steps Down
Sep 14, 2026
Vulcan Energy Resources Limited has announced the cessation of Dr Francis Wedin as a director effective 11 September 2026, and lodged a final notice of his interests in the company’s securities with the ASX. The filing details that Dr Wedin ...
Vulcan Energy Wins Second Lithium Licence for German Lionheart Project
Sep 10, 2026
Vulcan Energy has secured a second lithium production licence, known as Ilka, for its Lionheart Project in the Upper Rhine Valley Brine Field from the Mining Authority of Rhineland-Palatinate. The licence covers the Landau geothermal production ar...
Vulcan Energy Reshapes Board as Founder Moves to Growth-Focused Role
Sep 10, 2026
Vulcan Energy has appointed Angus Barker as Non-Executive Chair, effective 12 September 2026, as part of its long-term board succession plan. Barker, an experienced corporate finance and public company director, previously served as Lead Independe...
Vulcan Energy Highlights Governance Strength in 2026 Half-Year Report
Sep 10, 2026
Vulcan Energy Resources has released its Half Year Report for the period 1 January to 30 June 2026, highlighting a broad and experienced board of directors and a strengthened governance structure. The report also underscores the company’s es...
Vulcan Energy to Brief Investors on Phase 2 Project Ludwig Study
Sep 2, 2026
Vulcan Energy Resources has scheduled an investor webinar today to present the pre-feasibility study findings for its second integrated lithium and renewable heat development, known as Project Ludwig. Managing Director and CEO Cris Moreno will lea...
Vulcan Energy Outlines Regulatory Framework for Project Ludwig Phase 2
Sep 2, 2026
Vulcan Energy Resources has released an investor presentation introducing Phase 2 of its Project Ludwig, outlining information for potential and existing shareholders. The document clarifies that the presentation is for informational purposes only...
Vulcan Energy’s Project Ludwig PFS Points to Stronger Economics and Scalable Growth
Sep 2, 2026
Vulcan Energy has completed the Preliminary Feasibility Study for Project Ludwig, its second-phase integrated lithium and geothermal heat project in the Ludwigshafen area of Germany’s Upper Rhine Valley Brine Field. The project is designed t...
Vulcan Energy Issues New Performance Rights Under Employee Scheme
Sep 1, 2026
Vulcan Energy Resources Ltd. has notified the market of the issuance of 2,391,728 unquoted performance rights under its employee incentive scheme. The new securities, issued on 31 August 2026, are not intended to be quoted on the ASX, reinforcing ...
Vulcan Energy appoints Amanda Lacaze to board, discloses shareholding
Aug 17, 2026
Vulcan Energy Resources Limited has appointed Ms Amanda Lacaze as a director effective 17 August 2026, marking a change in the company’s board composition. As part of the appointment disclosure, the company reported that Lacaze holds 39,350 ...
Vulcan Energy Flags Risks and Reporting Limits in New Corporate Presentation
Aug 12, 2026
Vulcan Energy Resources has released a corporate presentation that outlines extensive disclaimers on the use of its material, clarifying that the document does not constitute financial, investment, legal or tax advice, and that prospective investo...
Vulcan Energy Director Boosts Stake with On‑Market Share Purchase
Aug 10, 2026
Vulcan Energy Resources director Cristobal Moreno has increased his direct holding in the company through an on‑market purchase of 7,000 fully paid ordinary shares. The transaction, executed on 10 August 2026 at $2.91 per share, reflects a m...
Citigroup Group Entities Exit Substantial Holder Status in Vulcan Energy Resources
Aug 10, 2026
Citigroup Global Markets Australia Pty Limited and related Citi group entities have ceased to be substantial shareholders in Vulcan Energy Resources Ltd., effective 6 August 2026, after reducing their relevant interests in the company’s ordi...
Vulcan Energy Adds Former Lynas Chief Amanda Lacaze to Board
Aug 2, 2026
Vulcan Energy has appointed prominent mining and resources executive Amanda Lacaze as an Independent Non-Executive Director, effective 17 August 2026. Lacaze, best known for transforming Lynas Rare Earths into a major global supplier of critical m...
Vulcan Energy underscores risks, limits liability in latest corporate presentation
Jul 28, 2026
Vulcan Energy Resources has released a corporate presentation that outlines the limitations of its liability, clarifies that the material does not constitute investment, legal or tax advice, and emphasises the need for prospective investors to see...
Vulcan Energy Burns Cash as Lionheart Development Accelerates
Jul 28, 2026
Vulcan Energy Resources reported a net cash outflow from operating activities of €7.4 million for the June quarter, reflecting ongoing development, production, staff and corporate costs that outweighed customer receipts and other income. The...
Vulcan Energy Secures Lionheart Financing as Construction Accelerates in Germany
Jul 28, 2026
Vulcan Energy Resources has reached financial close on its €2.2 billion Phase One financing package for Project Lionheart, a major de-risking milestone that secures funding for its integrated lithium and renewable energy development in Germa...
Vulcan Energy Performance Rights Lapse, Trimming Future Share Dilution
Jul 28, 2026
Vulcan Energy Resources has notified the market that 134,225 performance rights, designated as VULAC, have lapsed after conditions attached to these rights were not met or became incapable of being satisfied. The cessation of these conditional sec...
Vulcan Energy Director Updates Performance Rights Holding
Jul 28, 2026
Vulcan Energy Resources has reported a change in the indirect interests of director Cristobal Moreno, reflecting adjustments to his performance rights held through the C Moreno Family A/C, where he is a beneficiary. Following the vesting of 18,725...
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.