Financials Beach Energy Limited

Equities

BPT

AU000000BPT9

Oil & Gas Exploration and Production

Market Closed - Australian S.E. Other stock markets 02:00:00 2024-07-04 am EDT			5-day change	1st Jan Change
1.51 ^AUD	+0.67%		+2.37%	-5.62%

Jun. 24	Newport Exploration Loses 19% as Provides Update on GOR Licenses in Cooper Basin in Australia	MT
Jun. 24	Newport Exploration Provides Update on GOR Licenses in Cooper Basin in Australia	MT

Valuation

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	4,522	3,466	2,826	3,932	3,078	3,420	-	-
Enterprise Value (EV) ¹	4,350	3,416	2,874	3,767	3,078	3,892	3,883	3,563
P/E ratio	7.85 x	6.93 x	8.94 x	7.86 x	7.68 x	-10.3 x	7.56 x	5.4 x
Yield	1.01%	1.32%	1.61%	1.16%	-	2.95%	4.89%	6.63%
Capitalization / Revenue	2.18 x	2.01 x	1.81 x	2.22 x	1.87 x	1.93 x	1.87 x	1.58 x
EV / Revenue	2.09 x	1.98 x	1.84 x	2.13 x	1.87 x	2.19 x	2.13 x	1.65 x
EV / EBITDA	3.17 x	3.08 x	3.02 x	3.39 x	3.13 x	4.12 x	3.38 x	2.58 x
EV / FCF	7.78 x	-74 x	1,437 x	12.1 x	-	-18.1 x	34 x	6.28 x
FCF Yield	12.8%	-1.35%	0.07%	8.24%	-	-5.51%	2.94%	15.9%
Price to Book	1.9 x	1.23 x	0.92 x	1.11 x	-	1 x	0.92 x	0.83 x
Nbr of stocks (in thousands)	2,278,249	2,280,587	2,278,949	2,279,633	2,279,920	2,279,870	-	-
Reference price ²	1.985	1.520	1.240	1.725	1.350	1.500	1.500	1.500
Announcement Date	8/18/19	8/16/20	8/15/21	8/14/22	8/13/23	-	-	-

¹AUD in Million²AUD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,078	1,728	1,562	1,771	1,646	1,774	1,826	2,161
EBITDA ¹	1,374	1,108	953	1,111	982	945.6	1,149	1,381
EBIT ¹	848	653.3	524	734.8	569.8	507.4	671.1	860.7
Operating Margin	40.81%	37.8%	33.55%	41.48%	34.61%	28.6%	36.75%	39.83%
Earnings before Tax (EBT) ¹	810.4	693.1	436.8	716.6	559.3	499.7	634.8	878.4
Net income ¹	577.3	500.8	317	500.8	400.8	-347.4	451.4	633.8
Net margin	27.79%	28.98%	20.29%	28.27%	24.34%	-19.58%	24.72%	29.33%
EPS ²	0.2528	0.2192	0.1387	0.2194	0.1758	-0.1454	0.1984	0.2778
Free Cash Flow ¹	558.9	-46.2	2	310.4	-	-214.6	114.3	567.6
FCF margin	26.9%	-2.67%	0.13%	17.52%	-	-12.1%	6.26%	26.27%
FCF Conversion (EBITDA)	40.66%	-	0.21%	27.94%	-	-	9.95%	41.09%
FCF Conversion (Net income)	96.81%	-	0.63%	61.98%	-	-	25.32%	89.55%
Dividend per Share ²	0.0200	0.0200	0.0200	0.0200	-	0.0442	0.0733	0.0994
Announcement Date	8/18/19	8/16/20	8/15/21	8/14/22	8/13/23	-	-	-

¹AUD in Million²AUD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: Juni	2020 S1	2020 S2	2021 S1	2021 S2	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2022 S2	2023 Q2	2023 S1	2023 S2	2024 Q1	2024 S1	2024 Q3	2024 Q4	2024 S2	2025 Q1	2025 Q2	2025 S1	2025 Q3	2025 S2	2026 S1
Net sales ¹	900	779.4	726.3	835.7	388	409.4	-	487	526.4	974	422	827	819.4	405	953.9	392	420.7	831.5	452.2	448.4	892.1	451.6	934.5	1,138
EBITDA	622	486.1	407	546	-	-	513	-	-	598	-	499.2	482.8	-	488	-	-	-	-	-	-	-	-	-
EBIT	-	-	-	336	-	-	-	-	-	418.7	-	301.3	268.5	-	265	-	84.59	138.4	182	177	264.7	174.8	297.4	341.1
Operating Margin	-	-	-	40.21%	-	-	-	-	-	42.99%	-	36.43%	32.77%	-	27.78%	-	20.11%	16.64%	40.25%	39.48%	29.67%	38.7%	31.83%	29.98%
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	273.1	-	-492.5	-	56.24	112.9	152.7	146.3	299	142.8	293.9	-
Net income	-	-	128.7	-	-	-	212.9	-	-	287.9	-	-	-	-	-345	-	-301	-601.8	106.9	102.4	209.3	99.97	205.8	-
Net margin	-	-	17.72%	-	-	-	-	-	-	29.56%	-	-	-	-	-36.17%	-	-71.54%	-72.37%	23.64%	22.83%	23.46%	22.14%	22.02%	-
EPS	-	-	0.0564	-	-	-	0.0933	-	-	0.1261	-	0.0908	-	-	-	-	-	-	0.0467	0.0452	0.0905	0.0437	0.0890	-
Dividend per Share	0.0100	-	0.0100	0.0100	-	0.0100	0.0100	-	0.0100	0.0100	-	0.0100	-	-	0.0200	-	0.004520	0.0106	0.0136	0.0136	0.0271	0.0136	0.0271	-
Announcement Date	2/11/20	8/16/20	2/15/21	8/15/21	11/13/21	2/13/22	2/13/22	2/12/23	8/14/22	8/14/22	2/12/23	2/12/23	8/13/23	11/11/23	2/11/24	-	-	-	-	-	-	-	-	-

¹AUD in Million

Estimates

Balance Sheet Analysis

Fiscal Period: Juni	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	48	-	-	472	463	144
Net Cash position ¹	172	50	-	165	-	-	-	-
Leverage (Debt/EBITDA)	-	-	0.0504 x	-	-	0.499 x	0.4031 x	0.1039 x
Free Cash Flow ¹	559	-46.2	2	310	-	-215	114	568
ROE (net income / shareholders' equity)	26.6%	17.8%	12.3%	15.2%	-	5.19%	12.1%	14.8%
ROA (Net income/ Total Assets)	14%	11.3%	7.13%	10.3%	-	7.31%	8.76%	11.3%
Assets ¹	4,117	4,415	4,446	4,859	-	-4,753	5,156	5,596
Book Value Per Share ²	1.040	1.240	1.350	1.550	-	1.500	1.630	1.810
Cash Flow per Share ²	0.4500	0.3800	0.3300	0.5400	0.4100	0.3400	0.4100	0.5100
Capex ¹	479	920	674	913	-	1,017	757	504
Capex / Sales	23.07%	53.24%	43.12%	51.53%	-	57.3%	41.45%	23.35%
Announcement Date	8/18/19	8/16/20	8/15/21	8/14/22	8/13/23	-	-	-

¹AUD in Million²AUD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Beach Energy Limited

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

1.5 AUD

Average target price

1.78 AUD

Spread / Average Target

+18.69%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Oil & Gas Exploration and Production

	1st Jan change	Capi.
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HESS CORPORATION	+3.50%	45.82B
WOODSIDE ENERGY GROUP LTD	-5.92%	37.06B
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