Stock Analysis Report

Executive Summary

Melbana Energy Limited engages in the oil and gas exploration activities in Cuba and Australia.

Snowflake Analysis

Excellent balance sheet with weak fundamentals.

Share Price & News

How has Melbana Energy's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: MAY has not had significant price volatility in the past 3 months.

Market Performance

7 Day Return




AU Oil and Gas


AU Market

1 Year Return




AU Oil and Gas


AU Market

Return vs Industry: MAY underperformed the Australian Oil and Gas industry which returned -14.1% over the past year.

Return vs Market: MAY underperformed the Australian Market which returned 10.9% over the past year.

Shareholder returns

7 Day-10.0%-5.5%-3.6%
30 Day-14.3%-13.5%-3.7%
90 Day-10.0%-12.2%-0.2%
1 Year-43.8%-43.8%-10.8%-14.1%15.6%10.9%
3 Year-55.0%-55.0%9.0%-2.8%34.1%16.0%
5 Year-30.8%-30.8%-0.8%-17.5%44.9%12.6%

Price Volatility Vs. Market

How volatile is Melbana Energy's share price compared to the market and industry in the last 5 years?

Simply Wall St News


Is Melbana Energy undervalued compared to its fair value and its price relative to the market?


Price to Book (PB) ratio

Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate MAY's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate MAY's fair value to establish if it is undervalued.

Price To Earnings Ratio

PE vs Industry: MAY is unprofitable, so we can't compare its PE Ratio to the Oil and Gas industry average.

PE vs Market: MAY is unprofitable, so we can't compare its PE Ratio to the Australian market.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MAY's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: MAY is overvalued based on its PB Ratio (2.2x) compared to the AU Oil and Gas industry average (1.1x).

Next Steps

Future Growth

How is Melbana Energy forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?


Forecasted Energy industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Melbana Energy has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Next Steps

Past Performance

How has Melbana Energy performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MAY is currently unprofitable.

Growing Profit Margin: MAY is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: MAY is unprofitable, but has reduced losses over the past 5 years at a rate of 69.4% per year.

Accelerating Growth: Unable to compare MAY's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MAY is unprofitable, making it difficult to compare its past year earnings growth to the Oil and Gas industry (-0.7%).

Return on Equity

High ROE: MAY has a negative Return on Equity (-42.76%), as it is currently unprofitable.

Return on Assets

Return on Capital Employed

Next Steps

Financial Health

How is Melbana Energy's financial position?

Financial Position Analysis

Short Term Liabilities: MAY's short term assets (A$3.5M) exceed its short term liabilities (A$572.7K).

Long Term Liabilities: MAY has no long term liabilities.

Debt to Equity History and Analysis

Debt Level: MAY is debt free.

Reducing Debt: MAY had no debt 5 years ago.

Balance Sheet

Inventory Level: MAY has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if MAY's debt is covered by short term assets.

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: MAY has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if MAY has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.

Next Steps


What is Melbana Energy's current dividend yield, its reliability and sustainability?

Dividend Yield vs Market


Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate MAY's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate MAY's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MAY's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MAY's dividend payments have been increasing.

Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MAY's dividend in 3 years as they are not forecast to pay a notable one for the Australian market.

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average board tenure


Melbana Energy has no CEO, or we have no data on them.

Board Members

Andrew Purcell
Executive Chairman of the Board4.3yrsAU$100.00k15.92% A$3.3m
Peter Stickland
Non-Executive Technical Director & Director2.1yrsAU$81.87k0.72% A$149.4k
Michael Sandy
Non-Executive Director4.6yrsAU$75.00k0.23% A$48.6k


Average Tenure

Experienced Board: MAY's board of directors are considered experienced (4.3 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 23%.

Top Shareholders

Company Information

Melbana Energy Limited's company bio, employee growth, exchange listings and data sources

Key Information

  • Name: Melbana Energy Limited
  • Ticker: MAY
  • Exchange: ASX
  • Founded: 1994
  • Industry: Oil and Gas Exploration and Production
  • Sector: Energy
  • Market Cap: AU$20.852m
  • Shares outstanding: 2.32b
  • Website:

Number of Employees


  • Melbana Energy Limited
  • 350 Collins Street
  • Level 3
  • Melbourne
  • Victoria
  • 3000
  • Australia


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MAYASX (Australian Securities Exchange)YesOrdinary SharesAUAUDMar 1998
MEOA.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDMar 1998
MU9ADB (Deutsche Boerse AG)YesOrdinary SharesDEEURMar 1998
MAYCHIA (Chi-X Australia)YesOrdinary SharesAUAUDMar 1998


Melbana Energy Limited engages in the oil and gas exploration activities in Cuba and Australia. It primarily holds interests in the Tassie Shoal Methanol project and Timor Sea LNG project located in Australia. The company was formerly known as MEO Australia Limited and changed its name to Melbana Energy Limited in November 2016. Melbana Energy Limited was incorporated in 1994 and is based in Melbourne, Australia. 

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/26 10:35
End of Day Share Price2020/02/26 00:00
Annual Earnings2019/06/30

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.