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Xstate Resources Limited
(Sydney:XST)
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Rating:43Neutral
Price Target:
AU$0.01
▼(-35.00% Downside)
Action:Upgraded
Date:10/03/26
The score is primarily constrained by deteriorating financial performance (revenue declining to zero and ongoing cash burn) despite low leverage on the balance sheet. Technicals also weigh on the score, with price below longer-term averages and negative MACD, only partially offset by oversold signals. Valuation provides limited support due to a negative P/E and no indicated dividend yield.
Positive Factors
Low leverage
Near-zero debt gives Xstate Resources a conservative capital structure and reduces the immediate burden of interest and refinancing obligations. This financial flexibility can help preserve resources for operations or future development, although it does not offset the company’s current operating weakness.
Negative Factors
Revenue collapse
Revenue declining to zero represents a fundamental contraction in the company’s operating base, not merely a margin setback. Without recurring revenue, Xstate Resources has limited demonstrated ability to support expenses, rebuild earnings, or fund future activities internally over the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
Near-zero debt gives Xstate Resources a conservative capital structure and reduces the immediate burden of interest and refinancing obligations. This financial flexibility can help preserve resources for operations or future development, although it does not offset the company’s current operating weakness.
Read all positive factors
Xstate Resources Limited (XST) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$6.24M
Dividend YieldN/A
Average Volume (3M)1.17M
Price to Earnings (P/E)―
Beta (1Y)0.23
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. Volume1,447,515
30 Day Avg. Volume1,169,803
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 | -384.18K | 2.52M | 773.68K | -2.79M |
| 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
Neutral
0.02
Price Trends
0.01
Negative
0.02
Negative
0.02
Negative
Market Momentum
>-0.01
Positive
49.90
Neutral
44.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:XST, the sentiment is Neutral. 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 neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 49.90 is Neutral, neither overbought nor oversold. The STOCH value of 44.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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% | |
57 Neutral | AU$10.35M | -1.42 | -27.80% | ― | ― | 33.67% | |
49 Neutral | AU$17.28M | -16.67 | -20.84% | ― | ― | 43.24% | |
49 Neutral | AU$7.53M | 10.00 | 9.31% | ― | 50.52% | ― | |
43 Neutral | AU$6.24M | -1.43 | -24.29% | ― | -100.00% | 75.20% | |
43 Neutral | AU$10.10M | -1.09 | -435.32% | ― | ― | 20.69% | |
43 Neutral | AU$5.58M | -1.33 | -7.13% | ― | -100.00% | 21.88% |
* Energy Sector Average
AU:XST
Xstate Resources Limited
0.01
>-0.01
-38.10%
AU:CND
Global Oil & Gas
0.02
>-0.01
-13.04%
AU:GLL
Galilee Energy Limited
0.01
0.00
0.00%
AU:GAS
State Gas Ltd.
0.01
-0.02
-65.52%
AU:SHE
Stonehorse Energy Ltd
0.01
<0.01
10.00%
AU:TEE
Top End Energy Limited
0.04
-0.01
-21.28%
Xstate Resources Limited Corporate Events
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.