Tamboran Resources Corporation

ASX:TBN Stock Report

Market Cap: AU$398.3m

Tamboran Resources Valuation

Is TBN 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 TBN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate TBN's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate TBN's fair value for valuation analysis.

Key Valuation Metric

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

Key metric: As TBN 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 TBN. This is calculated by dividing TBN's market cap by their current book value.
What is TBN's PB Ratio?
PB Ratio0.9x
BookUS$275.60m
Market CapUS$258.96m

Price to Book Ratio vs Peers

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

The above table shows the PB ratio for TBN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average1.5x
AEL Amplitude Energy
1.2x75.6%AU$462.0m
CVN Carnarvon Energy
1.1x-46.7%AU$304.1m
HZN Horizon Oil
2.4x4.2%AU$309.1m
STX Strike Energy
1.4x37.5%AU$616.1m
TBN Tamboran Resources
0.9x40.1%AU$398.3m

Price-To-Book vs Peers: TBN is good value based on its Price-To-Book Ratio (0.9x) compared to the peer average (1.5x).

Price to Book Ratio vs Industry

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

6 CompaniesPrice / BookEstimated GrowthMarket Cap
BLU Blue Energy
0.2x109.7%US$9.63m
ATS Australis Oil & Gas
0.2xn/aUS$7.54m
AJQ Armour Energy
0.2xn/aUS$6.72m
BME Black Mountain Energy
0.07xn/aUS$2.00m
TBN 0.9xIndustry Avg. 1.3xNo. of Companies14PB012345+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: TBN is good value based on its Price-To-Book Ratio (0.9x) compared to the Australian Oil and Gas industry average (1.3x).

Price to Book Ratio vs Fair Ratio

What is TBN'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.

TBN PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio0.9x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate TBN'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 TBN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$0.14
AU$0.36
+156.6%
12.6%AU$0.41AU$0.30n/a3
Nov ’25AU$0.14
AU$0.36
+156.6%
12.6%AU$0.41AU$0.30n/a3
Oct ’25AU$0.14
AU$0.36
+148.3%
12.6%AU$0.41AU$0.30n/a3
Sep ’25AU$0.14
AU$0.36
+157.1%
12.6%AU$0.41AU$0.30n/a3
Aug ’25AU$0.18
AU$0.36
+100.0%
12.6%AU$0.41AU$0.30n/a3
Jul ’25AU$0.18
AU$0.39
+113.9%
3.9%AU$0.40AU$0.37n/a2
Jun ’25AU$0.18
AU$0.39
+108.1%
3.9%AU$0.40AU$0.37n/a2
May ’25AU$0.17
AU$0.39
+133.3%
3.9%AU$0.40AU$0.37n/a2
Apr ’25AU$0.17
AU$0.39
+126.5%
3.9%AU$0.40AU$0.37n/a2
Mar ’25AU$0.22
AU$0.39
+75.0%
3.9%AU$0.40AU$0.37n/a2
Feb ’25AU$0.18
AU$0.36
+102.2%
1.1%AU$0.37AU$0.36n/a2
Jan ’25AU$0.23
AU$0.38
+69.6%
8.3%AU$0.41AU$0.35n/a2
Dec ’24AU$0.14
AU$77.20
+55,042.9%
9.3%AU$84.40AU$70.00n/a2
Nov ’24AU$0.13
AU$77.20
+59,284.6%
9.3%AU$84.40AU$70.00AU$0.142
Oct ’24AU$0.14
AU$77.20
+53,141.4%
9.3%AU$84.40AU$70.00AU$0.142
Sep ’24AU$0.14
AU$72.20
+49,693.1%
16.9%AU$84.40AU$60.00AU$0.142
Aug ’24AU$0.15
AU$80.00
+53,233.3%
25.0%AU$100.00AU$60.00AU$0.182
Jul ’24AU$0.18
AU$80.00
+44,344.4%
25.0%AU$100.00AU$60.00AU$0.182
Jun ’24AU$0.21
AU$85.00
+39,434.9%
17.6%AU$100.00AU$70.00AU$0.182
May ’24AU$0.20
AU$85.00
+42,400.0%
17.6%AU$100.00AU$70.00AU$0.172
Apr ’24AU$0.20
AU$85.00
+42,400.0%
17.6%AU$100.00AU$70.00AU$0.172

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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