Comet Ridge Future Growth

Future criteria checks 3/6

Comet Ridge is forecast to grow earnings and revenue by 51.1% and 69.3% per annum respectively. EPS is expected to decline by 31.2% per annum. Return on equity is forecast to be -296% in 3 years.

Key information

51.1%

Earnings growth rate

-31.2%

EPS growth rate

Oil and Gas earnings growth	10.6%
Revenue growth rate	69.3%
Future return on equity	-296.0%
Analyst coverage	Low
Last updated	29 Apr 2024

Recent future growth updates

Recent updates

Earnings and Revenue Growth Forecasts

ASX:COI - Analysts future estimates and past financials data (AUD Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
6/30/2026	9	-16	-89	-8	2
6/30/2025	N/A	-8	-67	-5	2
6/30/2024	N/A	-8	-7	-5	2
12/31/2023	N/A	-9	-7	-4	N/A
9/30/2023	N/A	-8	-8	-4	N/A
6/30/2023	N/A	-7	-9	-4	N/A
3/31/2023	N/A	-8	-10	-3	N/A
12/31/2022	N/A	-10	-11	-3	N/A
9/30/2022	N/A	-9	-11	-3	N/A
6/30/2022	N/A	-9	-12	-3	N/A
3/31/2022	0	-8	-10	-3	N/A
12/31/2021	0	-6	-8	-3	N/A
9/30/2021	0	-7	-6	-3	N/A
6/30/2021	0	-7	-4	-2	N/A
3/31/2021	0	-9	-7	-2	N/A
12/31/2020	0	-11	-10	-1	N/A
9/30/2020	0	-11	-15	-2	N/A
6/30/2020	N/A	-10	-19	-2	N/A
3/31/2020	0	-7	-21	-3	N/A
12/31/2019	0	-4	-22	-3	N/A
9/30/2019	0	-4	-19	-3	N/A
6/30/2019	N/A	-4	-15	-2	N/A
3/31/2019	N/A	-4	-11	-2	N/A
12/31/2018	N/A	-3	-7	-1	N/A
9/30/2018	N/A	-3	-7	-1	N/A
6/30/2018	N/A	-2	-7	-2	N/A
3/31/2018	N/A	-3	-7	-2	N/A
12/31/2017	N/A	-3	-6	-2	N/A
9/30/2017	N/A	-3	N/A	-2	N/A
6/30/2017	N/A	-4	N/A	-1	N/A
3/31/2017	0	-4	N/A	-1	N/A
12/31/2016	0	-4	N/A	-2	N/A
9/30/2016	0	-4	N/A	-2	N/A
6/30/2016	0	-4	N/A	-2	N/A
3/31/2016	0	-11	N/A	-1	N/A
12/31/2015	0	-19	N/A	-1	N/A
9/30/2015	0	-19	N/A	-1	N/A
6/30/2015	0	-19	N/A	-1	N/A
3/31/2015	0	-15	N/A	0	N/A
12/31/2014	0	-11	N/A	1	N/A
9/30/2014	0	-12	N/A	1	N/A
6/30/2014	N/A	-14	N/A	1	N/A
3/31/2014	0	-11	N/A	0	N/A
12/31/2013	0	-9	N/A	-1	N/A
9/30/2013	0	-8	N/A	-1	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: COI is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.3%).

Earnings vs Market: COI is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: COI is expected to become profitable in the next 3 years.

Revenue vs Market: COI is forecast to have no revenue next year.

High Growth Revenue: COI is forecast to have no revenue next year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: COI is forecast to be unprofitable in 3 years.

Comet Ridge Future Growth

Future criteria checks 3/6

Key information

Recent future growth updates

Price target increased by 12% to AU$0.25

Forecast to breakeven in 2026

Price target increased to AU$0.24

Price target increased to AU$0.21

Price target increased to AU$0.19

Recent updates

Comet Ridge Limited has completed a Follow-on Equity Offering in the amount of AUD 15.045 million.

Price target increased by 12% to AU$0.25

Forecast to breakeven in 2026

MD & Director exercised options to buy AU$126k worth of stock.

Is Comet Ridge (ASX:COI) Using Too Much Debt?

New minor risk - Market cap size

Comet Ridge Limited, Annual General Meeting, Nov 22, 2023

New major risk - Financial position

Is Comet Ridge (ASX:COI) Using Too Much Debt?

MD & Director recently bought AU$50k worth of stock

Comet Ridge Limited Announces Mahalo North Dev Plan Update

No independent directors

Comet Ridge Limited, Annual General Meeting, Nov 25, 2022

Comet Ridge Limited Auditor Raises 'Going Concern' Doubt

Comet Ridge Limited has completed a Follow-on Equity Offering in the amount of AUD 24 million.

Comet Ridge Limited has completed a Follow-on Equity Offering in the amount of AUD 24 million.

Comet Ridge Limited Confirms Very High Productivity from the Evaluated Area

Comet Ridge Limited Provides Update from Mahalo North 1 Pilot Well

Comet Ridge Limited Advises That the Mahalo North 1 Pilot Well Continues to Record Increases in Gas Production and Is Currently Flowing At More Than 1.25 Mmcfd

Price target increased to AU$0.24

Comet Ridge Limited Provides Production Update

Comet Ridge Limited Continues to Increase Gas Production

Comet Ridge Limited (ASX:COI) completed the additional 30% interest in ATP 337P Mahalo Coal Steam Gas Asset from Australia Pacific LNG Pty Ltd.

Comet Ridge Limited Announces Mahalo North 1 Gas Production Continues to Increase

Price target increased to AU$0.21

No independent directors

Comet Ridge Provides Drilling Update

Price target increased to AU$0.19

Comet Ridge Limited Provides Mahalo North Production Testing Update

We're Not Very Worried About Comet Ridge's (ASX:COI) Cash Burn Rate

Comet Ridge Limited Provides an Update on Its Mahalo North Work Program

Comet Ridge Limited Provides an Update on Its Mahalo North Work Program

We're Hopeful That Comet Ridge (ASX:COI) Will Use Its Cash Wisely

Comet Ridge Limited Announces Corporate and Operations Update

Comet Ridge Limited (ASX:COI) entered into a binding agreement to acquire additional 30% interest in ATP 337P Mahalo Coal Steam Gas Asset from Australia Pacific LNG Pty Ltd. for AUD 20 million.

How Much Is Comet Ridge's (ASX:COI) CEO Getting Paid?

Comet Ridge Limited Provides Mahalo Gas Hub Area Activities Update

Queensland Government Selects Comet Ridge Limited as Preferred Tenderer for Two Additional Gas Blocks

Comet Ridge Limited Announces Narrabri Gas Project Approval Positive for Comet Ridge