Latest Ratios: P/E Ratio -0.0x · EV/EBITDA N/A · ROE -10.6%. (2018–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $906M | $313M | $213M | — | — | — | — | — | — |
| Enterprise Value | $893M | $300M | $166M | — | — | — | — | — | — |
| P/E Ratio → | -0.01 | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 1.20 | 0.80 | 0.69 | — | — | — | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -10.6% | -10.6% | -9.4% | -22.2% | -6.7% | -73.6% | — | — | — |
| ROA | -9.2% | -9.2% | -8.1% | -20.2% | -6.4% | -34.6% | -51.7% | -89.7% | -132.2% |
| ROIC | -9.3% | -9.3% | -7.4% | -11.3% | -8.5% | -119.3% | — | — | — |
| ROCE | -10.6% | -10.6% | -8.2% | -13.1% | -7.0% | -27.6% | -48.4% | -20.1% | -189.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.07 | 0.07 | 0.09 | 0.00 | 0.01 | 0.01 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.03 | -0.15 | -0.04 | -0.20 | -0.59 | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | -347.55 | -125.93 | -3.33 | -3.50 | -0.30 | -125.54 |
Net cash position: cash ($39M) exceeds total debt ($26M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.55 | 1.55 | 3.48 | 1.15 | 6.66 | 9.10 | 1.28 | 28.36 | 1.68 |
| Quick Ratio | 1.55 | 1.55 | 3.48 | 1.15 | 6.66 | 9.10 | 1.28 | 28.36 | 1.68 |
| Cash Ratio | 1.08 | 1.08 | 2.67 | 0.48 | 5.82 | 9.03 | 1.23 | 28.28 | 1.65 |
| Asset Turnover | — | — | — | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — | — | — | — | — |
| Shares Outstanding | — | $15M | $9M | $6M | $4M | $767440 | $467500 | $468345 | $467615 |
Frontier project funding dependency
As reported in financial statements, Tamboran's ROIC has remained consistently negative, fluctuating between -0.8% and -4.1% over the last ten quarters, which highlights the inherent difficulty of generating returns on capital while the company remains in a pre-revenue, capital-intensive exploration and appraisal stage of development.
The persistent negative ROIC is a structural feature of a company that has yet to achieve commercial production, as capital is being deployed into long-dated assets that are not yet contributing to earnings. Investors should monitor whether the company can transition from this negative return profile to positive compounding once the Shenandoah South Pilot Project reaches commercial scale.
Based on reported figures, the company's current ratio of 2.00 as of 2026Q3 suggests a temporary liquidity cushion, yet this metric may be misleading given the high cash burn rate associated with the mobilization of specialized US drilling equipment for its Northern Territory exploration activities.
While a current ratio of 2.00 appears adequate on the surface, it does not account for the massive, ongoing capital requirements needed to sustain the company's drilling program. The reliance on external financing to maintain this liquidity position warrants caution, as any disruption in capital markets could rapidly erode the company's ability to fund its appraisal milestones.
According to recent SEC filings, Tamboran's D/E ratio has crept up to 0.13 by 2026Q3, reflecting a strategic shift toward utilizing debt to supplement equity-based funding for its frontier exploration, though the lack of EBITDA makes traditional interest coverage metrics largely irrelevant for assessing true solvency.
The modest increase in leverage indicates that management is beginning to tap into debt markets to support its capital-intensive operations. However, without operational cash flow to service this debt, the company remains highly vulnerable to interest rate volatility and the success of its upcoming flow tests, which are critical for securing future project financing.
As indicated by the company's pre-revenue status, the use of P/E or EV/EBITDA multiples is fundamentally inappropriate, as these metrics obscure the true value of the company's 2C contingent resources and the optionality inherent in its concentrated acreage position within the Beetaloo Basin's Amungee Member.
Investors frequently misapply earnings-based multiples to Tamboran, which leads to a distorted view of its valuation. A more appropriate analytical framework would focus on the net asset value of its contingent resources or the cost per acre relative to successful unconventional plays, rather than attempting to force a valuation based on non-existent cash flows.
Includes 30+ ratios · 8 years · Updated daily
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Quick answers to the most common questions about buying TBN stock.
Tamboran Resources Corp's current P/E ratio is -0.0x. This places it at the 50th percentile of its historical range.
Tamboran Resources Corp's return on equity (ROE) is -10.6%. The historical average is -24.5%.
Based on historical data, Tamboran Resources Corp is trading at a P/E of -0.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.