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Petro Matad
(LSE:MATD)
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Rating:46Neutral
Price Target:
0.88 p
▼(-13.53% Downside)
Action:Reiterated
Date:10/22/26
The score is primarily held back by persistent large losses and ongoing negative operating/free cash flow despite rapid revenue growth. Technicals also remain weak with the price below key moving averages and a negative MACD. A very low-debt balance sheet provides some resilience, but valuation signals are limited due to negative earnings and no indicated dividend yield.
Positive Factors
Rapid Revenue Growth
Strong year-on-year revenue growth indicates expanding commercial activity and greater monetization of the company’s exploration portfolio. If this trajectory persists, a larger revenue base could eventually improve operating leverage, support development spending, and strengthen the platform for future resource growth.
Negative Factors
Structural Unprofitability
The company is generating revenue without covering its gross, operating, and total cost base, demonstrating that current activity levels are not yet economically self-sustaining. Persistent losses can consume equity, restrict reinvestment capacity, and make future development dependent on improved project economics.
Read all positive and negative factors
Positive Factors
Negative Factors
Rapid Revenue Growth
Strong year-on-year revenue growth indicates expanding commercial activity and greater monetization of the company’s exploration portfolio. If this trajectory persists, a larger revenue base could eventually improve operating leverage, support development spending, and strengthen the platform for future resource growth.
Read all positive factors
Petro Matad (MATD) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£15.34M
Dividend YieldN/A
Average Volume (3M)7.74M
Price to Earnings (P/E)―
Beta (1Y)0.15
Revenue Growth101.48%
EPS Growth76.79%
CountryUK
Employees16
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding1,858,800,400
10 Day Avg. Volume10,428,374
30 Day Avg. Volume7,738,646
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)1.28
Price to Sales (P/S)8.06
P/FCF Ratio-11.88
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)>-0.01
Revenue Forecast (FY)£2.68M
Petro Matad Business Overview & Revenue Model
Company Description
Petro Matad Limited is an oil and gas company primarily engaged in the exploration, development, and production of oil resources within Mongolia. The company holds complete ownership (100% interest) of two significant production sharing contract (...
Petro Matad Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.19M | 2.98M | 820.00K | 351.00K | 201.00K | 46.00K |
| Gross Profit | -733.34K | -1.61M | 185.00K | 161.00K | 52.00K | -135.00K |
| EBITDA | -474.18K | -2.03M | -10.45M | -5.74M | -2.80M | -1.97M |
| Net Income | -3.15M | -4.32M | -10.92M | -5.93M | -2.95M | -2.12M |
Balance Sheet | ||||||
| Total Assets | 22.18M | 21.65M | 20.86M | 21.40M | 21.08M | 24.09M |
| Cash, Cash Equivalents and Short-Term Investments | 2.16M | 3.09M | 2.96M | 4.03M | 2.49M | 8.21M |
| Total Debt | 40.21K | 116.04K | 109.00K | 0.00 | 0.00 | 6.00K |
| Total Liabilities | 3.82M | 2.82M | 1.63M | 348.00K | 456.00K | 377.00K |
| Stockholders Equity | 18.36M | 18.83M | 19.23M | 21.05M | 20.63M | 23.71M |
Cash Flow | ||||||
| Free Cash Flow | -1.78M | -2.02M | -10.15M | -3.52M | -2.94M | -2.39M |
| Operating Cash Flow | -1.46M | -1.70M | -9.80M | -3.49M | -2.73M | -2.38M |
| Investing Cash Flow | -1.63M | -845.37K | 2.50M | -3.49M | 3.31M | -7.05M |
| Financing Cash Flow | 3.57M | 3.70M | 8.78M | 5.97M | -122.00K | 9.65M |
Petro Matad Technical Analysis
Negative
1.02
Price Trends
0.95
Negative
1.02
Negative
1.12
Negative
Market Momentum
-0.03
Negative
44.49
Neutral
13.04
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:MATD, the sentiment is Negative. The current price of 1.02 is above the 20-day moving average (MA) of 0.84, above the 50-day MA of 0.95, and below the 200-day MA of 1.12, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 44.49 is Neutral, neither overbought nor oversold. The STOCH value of 13.04 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:MATD.
Petro Matad 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% | |
52 Neutral | £38.22M | -20.78 | -8.19% | ― | ― | -14.17% | |
49 Neutral | £29.62M | -2.14 | -24.12% | ― | 4.05% | -513.85% | |
46 Neutral | £15.34M | -6.88 | -16.93% | ― | 101.48% | 76.79% | |
46 Neutral | £21.73M | -20.63 | -69.60% | ― | ― | ― | |
44 Neutral | £13.92M | -4.64 | -7.54% | ― | 3484.37% | 34.88% | |
42 Neutral | £3.21M | -0.14 | 319.49% | ― | ― | -144.25% |
* Energy Sector Average
GB:MATD
Petro Matad
0.83
-0.66
-44.26%
GB:EOG
Europa Oil & Gas (Holdings)
1.65
-0.10
-5.71%
GB:JOG
Jersey Oil and Gas
117.00
-33.50
-22.26%
GB:SOU
Sound Energy
1.40
-4.60
-76.67%
GB:ZEN
Zenith Energy
3.80
0.60
18.75%
GB:PRD
Predator Oil & Gas Holdings Plc
1.30
-1.70
-56.67%
Petro Matad Corporate Events
Business Operations and Strategy
Petro Matad JV Strikes Acwa Deal for Mongolia–China Renewable Power Exports
Positive
Oct 19, 2026
Petro Matad’s SunSteppe Power subsidiary has signed a cooperation memorandum of understanding with Saudi-listed Acwa to develop a major renewable energy export initiative from Mongolia to China. The first phase targets 4.5 GW of capacity sup...
Business Operations and Strategy
Petro Matad to Spotlight Renewable JV in Investor Presentation
Positive
Oct 8, 2026
Petro Matad Limited, an AIM-quoted Mongolian oil explorer and producer, operates the Matad Block XX and Borzon Block VII licences and is expanding into clean power through its 50% stake in the SunSteppe Renewable Energy joint venture. This dual fo...
Business Operations and StrategyFinancial Disclosures
Petro Matad narrows loss as oil revenue stalls but renewables arm advances in Mongolia
Neutral
Sep 29, 2026
Petro Matad reported a narrowed interim loss of USD 0.59 million for the six months to 30 June 2026, compared with USD 1.7 million a year earlier, and a modestly higher cash balance of USD 2.76 million. Production from the Heron-1 and Gazelle-1 we...
Business Operations and StrategyRegulatory Filings and Compliance
Petro Matad Halts Mongolian Oil Deliveries Amid PetroChina Sales Dispute
Negative
Sep 22, 2026
Petro Matad has been forced to halt oil deliveries from its Heron-1 and Gazelle-1 wells in Mongolia’s Block XX after PetroChina’s local subsidiary said it could not process invoices while internal head office discussions on the 2026 Oi...
Business Operations and StrategyFinancial Disclosures
Petro Matad Secures Oil Sales Deal and Accelerates Mongolian Renewables Push
Positive
Aug 13, 2026
Petro Matad has implemented its long-delayed 2026 Oil Sales Agreement with PetroChina, clearing the way for export and sale of about 48,000 barrels of Block XX crude and expected receipt of revenue later this year. To conserve cash until those fun...
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.