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Noble Helium Limited (NHE) Fair Value & Analysis

Basic Materials · AU · Market cap A$20.6M

NH Noble Helium Limited NHE · AU
PriceA$0.0290
Fair ValueA$0.0255
Upside-12.1%
Quality9/100
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Weak Growth
Thin margins · 0.0% net margin
negative free cash flow
Mixed vs. peers (3/7)
Narrow moat 12/100
Evidence: Low Range A$0.0243 – A$0.0290 Share as image

Fair value as of: Jul 19, 2026

From 1 valuation models · updated 22 days ago

Share price +3.6% over the past month.

Below-average quality, and screening another 12% overvalued on our models.

What matters now

  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
  • Our model range runs from A$0.0243 (bear) to A$0.0290 (bull), base A$0.0255. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 9/100 (below-average quality) with low evidence: read the verdict with care.
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Price vs Fair Value (4 years)

A$0.3950 A$0.0090 Fair Value A$0.0255 Apr 2022 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

52‑month range A$0.0090 – A$0.3950 · fair‑value band A$0.0243 – A$0.0290 · the A$0.0290 price screens above the A$0.0255 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Noble Helium Limited (NHE) currently trades at A$0.0290, while our model-based Fair Value estimate is A$0.0255, implying the stock looks roughly 12.1% overvalued today. The Quality Score stands at 9/100 (below-average quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Trailing-twelve-month revenue stands at A$23.3K. It earns a return on equity of -16.3%. Net debt stands at A$5.4M. Fundamentals as of Jul 19, 2026

Our scenario range runs from A$0.0243 (bear case) to A$0.0290 (bull case); at A$0.0290, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 52% below its 52-week high and 190% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -12%, NHE screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

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
Highest evidence
NCAV (Graham) A$0.0300 A$0.0300 A$0.0500 50
All 1 models by family
Asset-Based
NCAV (Graham) A$0.0300 A$0.0300 A$0.0500 50

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Key figures & financial health

Revenue (TTM) A$23.3K
Revenue growth (YoY) +19,300%
Return on equity -16.3%
Free cash flow −A$6.2M FY2025
Operating margin -69,176%
EPS (TTM) A$-0.0100
More key figures
Net debt A$5.4M FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 9/100

Of which business quality 14 · Market factors (momentum, volatility) 29

Profitability 0
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 50
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 8
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Noble Helium Limited engages in the exploration of helium projects in the United Republic of Tanzania. Its flagship project is the 100% owned the North Rukwa project with 12 granted prospecting licenses covering a combined area of approximately 1,467 square kilometers located in south-west Tanzania.

Full company description

Noble Helium Limited engages in the exploration of helium projects in the United Republic of Tanzania. Its flagship project is the 100% owned the North Rukwa project with 12 granted prospecting licenses covering a combined area of approximately 1,467 square kilometers located in south-west Tanzania. Noble Helium Limited was incorporated in 2015 and is based in Perth, Australia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2020 – FY2025 · reported fiscal years

Noble Helium Limited reported revenue of A$21.8K in FY2025 versus A$23.9K in FY2020, a compound −1.8%/yr. Reported net income was −A$11.0M in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
A$21.8K
Avg. growth/yr (3Y) 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.
+185.2%
Avg. growth/yr (5Y) 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.
−1.8%
Avg. growth/yr (6Y) 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.
+5.0%
Revenue −1.8%/yr
FY20 A$23.9K
FY21 A$0
FY22 A$940
FY23 A$50.6K
FY25 A$21.8K
Net income
FY21 −A$165K
FY22 −A$2.7M
FY23 −A$2.4M
FY24 −A$5.1M
FY25 −A$11.0M

NHE screens 12% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "Noble Helium Limited Fair Value". https://www.fairvalue-calculator.com/stock/NHE

Peer Group

Specialty Chemicals · 673 stocks

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.

Quality Score 14 · Bottom 25%
Fair Value upside −12% · Above median
Return on assets -2% · Bottom 25%
Net margin (TTM) 0% · Below median
Revenue growth 19300% · Top 25%

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/B 0.39× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 17 · sector 0
FUTURE 100 · sector 19
PAST 0 · sector 23
HEALTH 0 · sector 95
DIVIDEND 0 · sector 25

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

Is Noble Helium Limited (NHE) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of A$0.0255 versus a price of A$0.0290, about −12% (overvalued).
What is the fair value of NHE?
Our model-based fair value for Noble Helium Limited is A$0.0255 (as of Jul 19, 2026), built from audited fundamentals. The current price is A$0.0290.
What is the quality score of NHE?
Noble Helium Limited has a Quality Score of 9/100. 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 revenue of Noble Helium Limited (NHE)?
Noble Helium Limited reported trailing-twelve-month revenue of about A$23.3K (latest available figure, as of Jul 19, 2026).
What is the net profit margin of NHE?
The net profit margin of Noble Helium Limited is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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