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Xstate Resources Limited
(Sydney:XST)
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Rating:42Neutral
Price Target:
AU$0.01
▼(-45.00% Downside)
Action:Reiterated
Date:10/17/26
The score is driven primarily by weak financial performance: revenue has fallen to zero and losses plus negative operating/free cash flow indicate ongoing cash burn despite low debt. Technical indicators reinforce the downside bias with the price below major moving averages and a negative MACD. Valuation offers limited support due to a negative P/E and no indicated dividend yield.
Positive Factors
Low Leverage
Near-zero debt reduces fixed financial obligations and refinancing exposure, giving Xstate more flexibility while it addresses operating weakness. This conservative capital structure can preserve optionality for asset development or other corporate needs, although it does not offset cash burn.
Negative Factors
Revenue Collapse
Revenue declining from 7.8M to 0.6M and then zero represents a complete loss of reported top-line activity by 2025. Without revenue, operating scale and the ability to fund the business internally are severely weakened, making recovery dependent on restoring commercial output.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage
Near-zero debt reduces fixed financial obligations and refinancing exposure, giving Xstate more flexibility while it addresses operating weakness. This conservative capital structure can preserve optionality for asset development or other corporate needs, although it does not offset cash burn.
Read all positive factors
Xstate Resources Limited (XST) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$4.32M
Dividend YieldN/A
Average Volume (3M)1.16M
Price to Earnings (P/E)―
Beta (1Y)0.25
Revenue Growth-100.00%
EPS Growth75.20%
CountryAU
Employees1
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding479,892,940
10 Day Avg. Volume1,007,384
30 Day Avg. Volume1,156,760
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)0.49
Price to Sales (P/S)0.00
P/FCF Ratio-2.03
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
Xstate Resources Limited Business Overview & Revenue Model
Company Description
Established in 1987 and based in Fremantle, Australia, Xstate Resources Limited focuses primarily on the exploration and production of oil and natural gas, with a significant portion of its operations located in the United States. The company hold...
Xstate Resources Limited Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
62
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 618.38K | 7.81M | 19.41M | 8.42M |
| Gross Profit | 0.00 | 0.00 | 65.41K | 2.01M | -2.81M | -3.26M |
| EBITDA | -2.06M | -1.76M | -1.19M | 2.52M | 773.68K | -2.32M |
| Net Income | -1.84M | -1.83M | 1.18M | 1.40M | -3.48M | -4.64M |
Balance Sheet | ||||||
| Total Assets | 9.08M | 8.01M | 4.53M | 12.73M | 31.82M | 40.39M |
| Cash, Cash Equivalents and Short-Term Investments | 1.25M | 2.91M | 3.56M | 995.26K | 814.46K | 724.39K |
| Total Debt | 0.00 | 0.00 | 0.00 | 4.89K | 0.00 | 4.92K |
| Total Liabilities | 1.10M | 823.06K | 1.12M | 10.54M | 31.12M | 36.54M |
| Stockholders Equity | 7.98M | 7.19M | 3.40M | 2.20M | 698.84K | 3.85M |
Cash Flow | ||||||
| Free Cash Flow | -832.49K | -1.74M | -1.59M | -923.83K | 100.94K | -4.79M |
| Operating Cash Flow | -831.37K | -1.74M | -1.59M | -78.23K | 100.94K | -3.05M |
| Investing Cash Flow | -7.60M | -4.40M | 4.12M | 279.33K | 0.00 | -1.74M |
| Financing Cash Flow | 7.23M | 5.54M | -4.89K | -42.93K | -4.92K | 4.65M |
Xstate Resources Limited Technical Analysis
Negative
0.02
Price Trends
0.01
Negative
0.01
Negative
0.02
Negative
Market Momentum
>-0.01
Negative
39.10
Neutral
>-0.01
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:XST, the sentiment is Negative. The current price of 0.02 is above the 20-day moving average (MA) of 0.01, above the 50-day MA of 0.01, and above the 200-day MA of 0.02, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 39.10 is Neutral, neither overbought nor oversold. The STOCH value of >-0.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:XST.
Xstate Resources Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
58 Neutral | AU$8.21M | 6.09 | 9.31% | ― | 50.52% | ― | |
57 Neutral | AU$10.35M | -1.42 | -27.80% | ― | ― | 33.67% | |
49 Neutral | AU$15.55M | -15.00 | -20.84% | ― | ― | 43.24% | |
43 Neutral | AU$5.05M | -1.20 | -7.13% | ― | -100.00% | 21.88% | |
42 Neutral | AU$4.32M | -1.04 | -24.29% | ― | -100.00% | 75.20% |
* Energy Sector Average
AU:XST
Xstate Resources Limited
0.01
-0.01
-54.55%
AU:CND
Global Oil & Gas
0.02
>-0.01
-18.18%
AU:GAS
State Gas Ltd.
0.01
-0.02
-66.67%
AU:SHE
Stonehorse Energy Ltd
0.01
<0.01
20.00%
AU:TEE
Top End Energy Limited
0.04
>-0.01
-5.13%
Xstate Resources Limited Corporate Events
Xstate Resources Expands Taroom Trough Portfolio with ATP2087 Preferred Tenderer Status
Oct 12, 2026
Xstate Resources Limited has been named, via the Taroom JV, as preferred tenderer for Block PLR2026-1-7, now ATP2087, under Queensland’s Public Land Release program, in a move that materially expands its asset base in the Taroom Trough. With...
Xstate-Led Joint Venture Wins Highly Prospective Taroom Trough Acreage
Oct 2, 2026
Xstate Resources Limited and its partners Amplitude Energy, Betaloo Energy and Eastern States Energy have secured preferred tenderer status for Block 7 in the Taroom Trough under the Queensland Public Land Release program, with each party holding ...
Xstate Records Overpressured Reservoir in Diona-1 Survey
Sep 15, 2026
Xstate Resources has reported new reservoir data from a Static Gradient Survey in its Diona-1 vertical exploration well in Southwest Queensland. The survey was designed to measure pressure and fluid levels under static conditions, providing techni...
Xstate Resources Releases Interim Financial Report for Half-Year 2026
Sep 10, 2026
Xstate Resources Limited has released its interim financial report for the six months ended 30 June 2026, providing stakeholders with an overview of its financial position, profit or loss, cash flows and changes in equity. The report includes dire...
Xstate advances Diona-1 stimulation as costs rise and flow test plans evolve
Jul 31, 2026
Xstate Resources reported that it completed a two-stage stimulation program on the Diona-1 gas well in Queensland’s Surat Bowen Basin, confirming over-pressured hydrocarbons and consistent gas flow to surface despite a significant column of ...
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.