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S2 Resources ASX:S2R Stock Report

Last Price


Market Cap







07 Aug, 2022


Company Financials
S2R fundamental analysis
Snowflake Score
Future Growth0/6
Past Performance0/6
Financial Health6/6

S2R Stock Overview

S2 Resources Ltd explores for and evaluates mineral properties in Australia and Finland.

S2 Resources Competitors

Price History & Performance

Summary of all time highs, changes and price drops for S2 Resources
Historical stock prices
Current Share PriceAU$0.14
52 Week HighAU$0.23
52 Week LowAU$0.084
1 Month Change7.41%
3 Month Change-6.45%
1 Year Change-9.38%
3 Year Change20.83%
5 Year Change-14.71%
Change since IPO-14.71%

Recent News & Updates

Jul 22
We're Not Very Worried About S2 Resources' (ASX:S2R) Cash Burn Rate

We're Not Very Worried About S2 Resources' (ASX:S2R) Cash Burn Rate

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...

Shareholder Returns

S2RAU Metals and MiningAU Market

Return vs Industry: S2R exceeded the Australian Metals and Mining industry which returned -16.4% over the past year.

Return vs Market: S2R underperformed the Australian Market which returned -7.9% over the past year.

Price Volatility

Is S2R's price volatile compared to industry and market?
S2R volatility
S2R Average Weekly Movement10.0%
Metals and Mining Industry Average Movement12.1%
Market Average Movement10.6%
10% most volatile stocks in AU Market17.5%
10% least volatile stocks in AU Market4.7%

Stable Share Price: S2R is not significantly more volatile than the rest of Australian stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: S2R's weekly volatility has decreased from 18% to 10% over the past year.

About the Company

2015n/aMatt Keane

S2 Resources Ltd explores for and evaluates mineral properties in Australia and Finland. The company primarily explores for gold, nickel, copper, and platinum-group elements deposits. It holds interests in the Aarnivalkea prospect and Rupoas project located in Finland; and the Jillewarra, West Murchison, Three Springs, Koonenberry, Fraser Range, and Polar Bear projects located in Australia.

S2 Resources Fundamentals Summary

How do S2 Resources's earnings and revenue compare to its market cap?
S2R fundamental statistics
Market CapAU$51.67m
Earnings (TTM)-AU$8.47m
Revenue (TTM)AU$189.53k


P/S Ratio


P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
S2R income statement (TTM)
Cost of RevenueAU$0
Gross ProfitAU$189.53k
Other ExpensesAU$8.66m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date


Earnings per share (EPS)-0.024
Gross Margin100.00%
Net Profit Margin-4,471.11%
Debt/Equity Ratio0%

How did S2R perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.


Is S2R undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 1/6

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for S2R?

Other financial metrics that can be useful for relative valuation.

S2R key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue198.4x
Enterprise Value/EBITDA-4.6x
PEG Ration/a

Price to Book Ratio vs Peers

How does S2R's PB Ratio compare to its peers?

S2R PB Ratio vs Peers
The above table shows the PB ratio for S2R vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPBEstimated GrowthMarket Cap
Peer Average7.3x
GBE Globe Metals & Mining
SHP South Harz Potash
SRN Surefire Resources
ZEO Zeotech
S2R S2 Resources

Price-To-Book vs Peers: S2R is good value based on its Price-To-Book Ratio (3.1x) compared to the peer average (7.3x).

Price to Earnings Ratio vs Industry

How does S2R's PE Ratio compare vs other companies in the AU Metals and Mining Industry?

Price-To-Book vs Industry: S2R is expensive based on its Price-To-Book Ratio (3.1x) compared to the Australian Metals and Mining industry average (2x)

Price to Book Ratio vs Fair Ratio

What is S2R'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.

S2R PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio3.1x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate S2R's Price-To-Book Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of S2R when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate S2R's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate S2R's fair value 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?

Analyst Forecast: Insufficient data to show price forecast.

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Future Growth

How is S2 Resources forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score


Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted Materials 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 S2 Resources 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.

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  • Examine S2 Resources's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  • S2 Resources competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has S2 Resources performed over the past 5 years?

Past Performance Score


Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: S2R is currently unprofitable.

Growing Profit Margin: S2R is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: S2R is unprofitable, and losses have increased over the past 5 years at a rate of 1.9% per year.

Accelerating Growth: Unable to compare S2R's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: S2R is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (57.3%).

Return on Equity

High ROE: S2R has a negative Return on Equity (-50.76%), as it is currently unprofitable.

Discover strong past performing companies

Financial Health

How is S2 Resources's financial position?

Financial Health Score


Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: S2R's short term assets (A$14.7M) exceed its short term liabilities (A$628.9K).

Long Term Liabilities: S2R's short term assets (A$14.7M) exceed its long term liabilities (A$78.0K).

Debt to Equity History and Analysis

Debt Level: S2R is debt free.

Reducing Debt: S2R has not had any debt for past 5 years.

Balance Sheet

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: S2R has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: S2R has sufficient cash runway for 1.9 years if free cash flow continues to grow at historical rates of 6.8% each year.

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What is S2 Resources's current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate S2R's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate S2R's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if S2R's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if S2R's dividend payments have been increasing.

Earnings Payout to Shareholders

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

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as S2R has not reported any payouts.

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


Average management tenure


Matt Keane





Mr. Matthew Keane, is also known as Matt, has been is Chief Executive Officer at S2 Resources Limited since November 4, 2020. He was a Director of Metals and Mining, and Energy Research at Argonaut Securit...

CEO Compensation Analysis

Compensation vs Market: Matt's total compensation ($USD353.48K) is about average for companies of similar size in the Australian market ($USD279.73K).

Compensation vs Earnings: Insufficient data to compare Matt's compensation with company performance.

Leadership Team

Experienced Management: S2R's management team is considered experienced (2.6 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.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 13.2%.

Top Shareholders

Company Information

S2 Resources Ltd's employee growth, exchange listings and data sources

Key Information

  • Name: S2 Resources Ltd
  • Ticker: S2R
  • Exchange: ASX
  • Founded: 2015
  • Industry: Diversified Metals and Mining
  • Sector: Materials
  • Implied Market Cap: AU$51.674m
  • Shares outstanding: 356.37m
  • Website:


  • S2 Resources Ltd
  • 4/24 Parkland Road
  • Osborne Park
  • Western Australia
  • 6017
  • Australia


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/07 00:00
End of Day Share Price2022/08/05 00:00
Annual Earnings2021/06/30

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.