Comet Ridge Limited

ASX:COI Stock Report

Market Cap: AU$183.2m

Comet Ridge Valuation

Is COI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of COI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: COI (A$0.17) is trading below our estimate of fair value (A$1.88)

Significantly Below Fair Value: COI is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for COI?

Key metric: As COI is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for COI. This is calculated by dividing COI's market cap by their current book value.
What is COI's PB Ratio?
PB Ratio2.5x
BookAU$72.51m
Market CapAU$183.24m

Price to Book Ratio vs Peers

How does COI's PB Ratio compare to its peers?

The above table shows the PB ratio for COI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average2.2x
88E 88 Energy
0.3xn/aAU$43.4m
TPD Talon Energy
3.6x57.7%AU$140.2m
NHE Noble Helium
0.6xn/aAU$29.0m
LKO Lakes Blue Energy
4.3x37.5%AU$58.6m
COI Comet Ridge
2.5x30.5%AU$183.2m

Price-To-Book vs Peers: COI is expensive based on its Price-To-Book Ratio (2.5x) compared to the peer average (2.2x).

Price to Book Ratio vs Industry

How does COI's PB Ratio compare vs other companies in the AU Oil and Gas Industry?

4 CompaniesPrice / BookEstimated GrowthMarket Cap
BLU Blue Energy
0.2x109.7%US$8.43m
ATS Australis Oil & Gas
0.2xn/aUS$7.54m
BME Black Mountain Energy
0.07xn/aUS$2.00m
AUH AustChina Holdings
0.2xn/aUS$1.56m
No more companies available in this PB range
COI 2.5xIndustry Avg. 1.3xNo. of Companies11PB00.81.62.43.24+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: COI is expensive based on its Price-To-Book Ratio (2.5x) compared to the Australian Oil and Gas industry average (1.3x).

Price to Book Ratio vs Fair Ratio

What is COI's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

COI PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio2.5x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate COI's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst COI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$0.17
AU$0.26
+56.1%
13.8%AU$0.31AU$0.21n/a4
Nov ’25AU$0.15
AU$0.26
+66.1%
13.8%AU$0.31AU$0.21n/a4
Oct ’25AU$0.17
AU$0.24
+45.5%
9.3%AU$0.27AU$0.21n/a4
Sep ’25AU$0.17
AU$0.27
+56.9%
4.7%AU$0.28AU$0.25n/a3
Aug ’25AU$0.18
AU$0.27
+44.1%
4.7%AU$0.28AU$0.25n/a3
Jul ’25AU$0.18
AU$0.27
+44.1%
4.7%AU$0.28AU$0.25n/a3
Jun ’25AU$0.20
AU$0.25
+26.2%
10.6%AU$0.28AU$0.21n/a4
May ’25AU$0.19
AU$0.25
+32.9%
10.6%AU$0.28AU$0.21n/a4
Apr ’25AU$0.20
AU$0.25
+26.2%
10.6%AU$0.28AU$0.21n/a4
Mar ’25AU$0.20
AU$0.25
+23.3%
11.6%AU$0.28AU$0.21n/a3
Feb ’25AU$0.20
AU$0.25
+25.0%
11.8%AU$0.28AU$0.21n/a3
Jan ’25AU$0.22
AU$0.25
+13.6%
11.8%AU$0.28AU$0.21n/a3
Dec ’24AU$0.18
AU$0.22
+20.7%
11.8%AU$0.26AU$0.20n/a3
Nov ’24AU$0.16
AU$0.22
+39.6%
11.8%AU$0.26AU$0.20AU$0.153
Oct ’24AU$0.17
AU$0.22
+35.4%
11.8%AU$0.26AU$0.20AU$0.173
Sep ’24AU$0.17
AU$0.22
+31.4%
11.8%AU$0.26AU$0.20AU$0.173
Aug ’24AU$0.17
AU$0.22
+27.6%
11.8%AU$0.26AU$0.20AU$0.183
Jul ’24AU$0.17
AU$0.22
+35.4%
11.8%AU$0.26AU$0.20AU$0.183
Jun ’24AU$0.15
AU$0.22
+44.1%
11.8%AU$0.26AU$0.20AU$0.203
May ’24AU$0.14
AU$0.22
+59.5%
11.8%AU$0.26AU$0.20AU$0.193
Apr ’24AU$0.13
AU$0.22
+71.8%
11.8%AU$0.26AU$0.20AU$0.203
Mar ’24AU$0.14
AU$0.22
+59.5%
11.8%AU$0.26AU$0.20AU$0.203
Feb ’24AU$0.16
AU$0.24
+50.0%
11.8%AU$0.26AU$0.20AU$0.203
Jan ’24AU$0.16
AU$0.23
+43.8%
18.4%AU$0.26AU$0.17AU$0.223
Dec ’23AU$0.17
AU$0.23
+31.4%
18.4%AU$0.26AU$0.17AU$0.183
Nov ’23AU$0.17
AU$0.22
+31.4%
17.3%AU$0.26AU$0.17AU$0.163

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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