Bathurst Resources Ltd (BRL) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Bathurst Resources Ltd A$0.60, price A$0.45, upside +33.3%, quality 24 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range A$0.4000 – A$1.56 · fair‑value band A$0.4200 – A$0.6000 · the A$0.4500 price screens below the A$0.6000 fair value. Dashed = 300-day average. As of Sep 23, 2026.
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Bathurst Resources Limited engages in the exploration, development, and production of bituminous and coking coal in New Zealand and Canada. The company is involved in steelmaking coal development projects, and the operation of coal mines. It exports coal to Japan, South Korea, India, and China.
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Bathurst Resources Limited engages in the exploration, development, and production of bituminous and coking coal in New Zealand and Canada. The company is involved in steelmaking coal development projects, and the operation of coal mines. It exports coal to Japan, South Korea, India, and China. It serves the steelmaking, energy generation, agricultural, health, and food manufacturing industries. The company was formerly known as Bathurst Resources (New Zealand) Limited and changed its name to Bathurst Resources Limited in December 2013. Bathurst Resources Limited was founded in 2011 and is based in Wellington, New Zealand.
Stock analysis
Bathurst Resources Ltd (BRL) currently trades at A$0.4500, while our model-based Fair Value estimate is A$0.6000, implying the stock looks roughly 25.0% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of A$0.9200 per share, and 6 of the 9 models we run sit above the A$0.4500 price.
Bear case: the Multiples group reads lowest at A$0.2900, and 3 of the 9 models stay below the price. Evidence for this calculation is low.
Scenario range: A$0.4200 (bear) to A$0.6000 (bull), the price of A$0.4500 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 24/100 (below-average quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Bathurst Resources Ltd reported revenue of A$38.5M in FY2025 versus A$44.9M in FY2021, a compound −3.8%/yr. Reported net income was A$4.1M in FY2025, compounding −49.3%/yr from FY2021.
Key figures
Market cap A$102M (≈ $71.6M) · P/S ratio 3.88 · EPS (TTM) A$−0.0300 · Net margin 10.7% · Return on equity −2.1% · Return on assets (EBIT) 3.5% · Operating margin −38.6% · Revenue (TTM) A$31.2M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 41% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −51% fair-value upside, at 33%, BRL screens cheaper than that median.
Fair Value models
Bear A$0.4200Fair Value A$0.6000Bull A$0.6000
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.0/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−2.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−2.6%
Start year 2020 (pandemic). Over 10 years: −1.6% a year
Revenue growth 17 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+41.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
+29.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+29.7%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−41% vs 7%, slowing
Profit margin 2019 to 2024 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.5% → −14%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 7.8%/yr over ~11Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Coking Coal · 27 stocks
Beats the industry median on 3/8 measures
Overall it trails its industry peers.
Valuation
Quality Score24 · Bottom 25%
Fair Value upside+33% · Top 25%
Profitability
Return on assets−1% · Above median
Net margin (TTM)−23% · Bottom 25%
Operating margin (TTM)−39% · Bottom 25%
Growth and dividend
Revenue growth−46% · Bottom 25%
Valuation Multiplesvs Coking Coal median · lower = cheaper
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Is Bathurst Resources Ltd (BRL) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of A$0.6000 versus a price of A$0.4500, about +33% upside (undervalued).
What is the fair value of BRL?
Our model-based fair value for Bathurst Resources Ltd is A$0.6000 (as of Sep 23, 2026), built from audited fundamentals. The current price: A$0.4500.
What is the quality score of BRL?
Bathurst Resources Ltd has a Quality Score of 24/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Bathurst Resources Ltd (BRL)?
Our model-based price target is the fair value of A$0.6000 (as of Sep 23, 2026) from 9 valuation models. Cautious scenario A$0.4200, optimistic scenario A$0.6000. It is a calculation from audited fundamentals, not an analyst target.
What is the Bathurst Resources Ltd stock forecast for 2026?
Our models put fair value at A$0.6000, about +33% upside versus a price of A$0.4500 (undervalued). Cautious scenario A$0.4200, optimistic scenario A$0.6000. The calculation is refreshed regularly with new filings.
What is the revenue of Bathurst Resources Ltd (BRL)?
Bathurst Resources Ltd reported trailing-twelve-month revenue of about A$31.2M (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of Bathurst Resources Ltd (BRL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bathurst Resources Ltd it is A$0.6000 per share (as of Sep 23, 2026), against a price of A$0.4500. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Bathurst Resources Ltd stock overvalued or undervalued in 2026?
As of Sep 23, 2026, BRL trades below its calculated fair value: price A$0.4500, fair value A$0.6000, a gap of about +33% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BRL?
No. The price is what the market pays today (A$0.4500); the fair value is what the company's own numbers justify (A$0.6000). For Bathurst Resources Ltd the two are A$0.1500 per share apart. That gap is exactly why we show both numbers side by side.
How much is Bathurst Resources Ltd worth?
The market values Bathurst Resources Ltd at about A$102M (market capitalisation, as of Sep 23, 2026). Per share that is A$0.4500; our models calculate a fair value of A$0.6000 per share.
What do the bullish and bearish scenarios say about BRL?
Our models span a range for Bathurst Resources Ltd: cautious scenario A$0.4200, base A$0.6000, optimistic A$0.6000 per share (as of Sep 23, 2026, price A$0.4500). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Bathurst Resources Ltd (BRL)?
Balance-sheet figures for Bathurst Resources Ltd (as of Sep 23, 2026): return on equity −2.1%. They feed the Quality Score of 24/100, which measures business quality independently of the share price.
How far is BRL from its 52-week high?
Bathurst Resources Ltd trades at A$0.4500, about 41% below its 52-week high of A$0.7600 and 13% above the low of A$0.4000 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of A$0.6000 is for.
Which stocks are comparable to Bathurst Resources Ltd?
From the same area (Basic Materials) we also value Warrior Met Coal, Inc, PT Alamtri Minerals Indonesia Tbk,, Shanxi Meijin Energy Co, Alpha Metallurgical Resources, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Bathurst Resources Ltd stock attractive at the current price?
The data as of Sep 23, 2026: price A$0.4500, calculated fair value A$0.6000 (+33%), Quality Score 24/100, from 9 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BRL calculated?
We run Bathurst Resources Ltd through 9 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of A$0.6000, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0 % above its aggregate fair value. Bathurst Resources Ltd currently trades 33 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Bathurst Resources Ltd (BRL)?
The closing price on Sep 24, 2026 was A$0.4500. Our model-based fair value is A$0.6000, about +33% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bathurst Resources Ltd right now?
The large discount to fair value meets weak quality (24/100). That raises the risk this is a value trap rather than a bargain. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Bathurst Resources Ltd
How large is the market capitalisation of Bathurst Resources Ltd (BRL)?
The market capitalisation of Bathurst Resources Ltd is A$102M (≈ $71.6M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Bathurst Resources Ltd (BRL)?
The price-to-sales ratio of Bathurst Resources Ltd is 3.88 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Bathurst Resources Ltd (BRL)?
Earnings per share at Bathurst Resources Ltd are A$−0.0300. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Bathurst Resources Ltd (BRL)?
The net margin of Bathurst Resources Ltd is 10.7% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Bathurst Resources Ltd (BRL)?
The return on equity (ROE) of Bathurst Resources Ltd is −2.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Bathurst Resources Ltd (BRL)?
On an EBIT basis the return on assets of Bathurst Resources Ltd is 3.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Bathurst Resources Ltd (BRL)?
The operating margin of Bathurst Resources Ltd is −38.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bathurst Resources Ltd (BRL)?
Revenue at Bathurst Resources Ltd is growing −46.0% versus a year earlier (3y avg +2.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Bathurst Resources Ltd (BRL)?
Earnings per share at Bathurst Resources Ltd are growing −9.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Bathurst Resources Ltd (BRL) generate?
The free cash flow of Bathurst Resources Ltd is −A$4.2M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Bathurst Resources Ltd (BRL) hold?
Bathurst Resources Ltd holds more cash than debt, A$31.7M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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