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Stonehorse Energy Limited (SHE) Fair Value & Analysis

Energy · AU · Market cap A$8.2M

SE Stonehorse Energy Limited SHE · AU
PriceA$0.0110
Fair ValueA$0.0130
Upside+18.2%
Quality40/100
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Mixed Growth
Solidly profitable · 14.0% net margin
negative free cash flow
Ranks above peers (8/10)
Narrow moat 31/100
Evidence: Medium Range A$0.0118 – A$0.0130 Share as image

Fair value as of: Jul 19, 2026

From 6 valuation models · updated 22 days ago

Fair value updated Jul 19, 2026, revised from A$0.0120 to A$0.0130 (+8.4%) since Jun 26, 2026. Share price −15.4% over the past month.

Below-average quality, screening 18% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (A$0.0118). The market is more pessimistic than our downside scenario.
  • The models converge in a tight band (A$0.0118 to A$0.0130), unusually little disagreement for a valuation.
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Price vs Fair Value (5 years)

A$0.0300 A$0.0050 Fair Value A$0.0130 May 2021 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

60‑month range A$0.0050 – A$0.0300 · fair‑value band A$0.0118 – A$0.0130 · the A$0.0110 price screens below the A$0.0130 fair value. Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Stonehorse Energy Limited (SHE) currently trades at A$0.0110, while our model-based Fair Value estimate is A$0.0130, implying the stock looks roughly 18.2% undervalued today. The Quality Score stands at 40/100 (below-average quality), in the Energy sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Stonehorse Energy Limited generated revenue of A$3.5M at a net margin of 14.0%. It earns a return on equity of 3.7%. The balance sheet holds a net cash position of A$5.6M. Fundamentals as of Jul 19, 2026

Our scenario range runs from A$0.0118 (bear case) to A$0.0130 (bull case); at A$0.0110, the current price sits below 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 15% below its 52-week high and 175% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -26% fair-value upside, at 18%, SHE 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
ROIC Compounder A$0.0100 A$0.0100 A$0.0200 67
EPV A$0.0100 A$0.0100 A$0.0200 59
EV/EBITDA A$0.0100 A$0.0200 A$0.0200 54
All 6 models by family
Earnings-Based
EPV A$0.0100 A$0.0100 A$0.0200 59
Multiples
EV/EBIT A$0.0200 A$0.0200 A$0.0200 53
EV/EBITDA A$0.0100 A$0.0200 A$0.0200 54
EV/Revenue A$0.0100 A$0.0100 A$0.0200 43
Asset-Based
NCAV (Graham) A$0.0100 A$0.0100 A$0.0200 50
Economic Profit
ROIC Compounder A$0.0100 A$0.0100 A$0.0200 67

Widest divergence: Multiples (A$0.0200) versus Earnings-Based (A$0.0100). Highest evidence: ROIC Compounder (67).

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Key figures & financial health

Revenue (TTM) A$3.5M
Net margin 14.0%
Return on equity 3.7%
Free cash flow −A$1.0M FY2025
Operating margin -14.9%
EPS growth (YoY) -61.7%
More key figures
Net cash A$5.6M FY2025

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

Quality Score breakdown

Overall quality 40/100

Of which business quality 40 · Market factors (momentum, volatility) 73

Profitability 5
Margins and returns on capital today
Quality Growth 7
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 89
Balance sheet, leverage, solvency risk
Investment 63
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 83
Price trend over the last 3–12 months (market factor)
52W Momentum 80
Distance to the 52-week high (market factor)
Net Issuance 82
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

Stonehorse Energy Limited operates as an oil and gas exploration and production company in Canada and the United States.

Full company description

Stonehorse Energy Limited operates as an oil and gas exploration and production company in Canada and the United States. It has a working interest to earn 26.25% in the Caroline well located in central Alberta, Canada; 18.75% interests in the Wapiti well located in western Alberta; and 25% interests in the Myall Creek property situated in the Surat Basin, Queensland. The company also holds a working interest in the Burgess, Sutton, Bullard, Henry Federal, Randolph, Jewell, Newberry, Mitchell, and Thelma operating wells situated in the United States. Stonehorse Energy Limited was incorporated in 1999 and is based in Perth, Australia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Stonehorse Energy Limited reported revenue of A$3.5M in FY2025 versus A$673K in FY2021, a compound +50.5%/yr. Reported net income was −A$1.4M in FY2025.

Growth Quality 43/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
A$3.5M
Latest YoY
−16.8%
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.
−23.6%
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.
+43.9%
Avg. growth/yr (23Y) 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.
+1.7%
Revenue +50.5%/yr
FY21 A$673K
FY22 A$7.7M
FY23 A$4.1M
FY24 A$4.2M
FY25 A$3.5M
Net income
FY21 −A$204K
FY22 A$3.6M
FY23 A$812K
FY24 A$1.3M
FY25 −A$1.4M

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Cite: Fair Value Calculator (2026). "Stonehorse Energy Limited Fair Value". https://www.fairvalue-calculator.com/stock/SHE

Peer Group

Oil & Gas E&P · 315 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 40 · Below median
Fair Value upside −9% · Above median
Return on equity (TTM) 4% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 14% · Above median
Operating margin (TTM) -15% · Bottom 25%
Revenue growth 0% · Above median

Valuation Multiples vs Oil & Gas E&P median · lower = cheaper

P/B 0.42× · Cheaper than 75% of peers
P/S (TTM) 1.68× · Cheaper than median
EV/EBITDA 2.5× · 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 21 · sector 14
FUTURE 0 · sector 0
PAST 15 · sector 0
HEALTH 0 · sector 87
DIVIDEND 0 · sector 66

Values & ESG

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

Oil & gas

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

Similar stocks

10 more Oil & Gas E&P stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
CNOOC Limited 600938 ¥28.97 ¥32.55 +12%
ConocoPhillips explores for, COP $109.04 $91.79 -16%
Canadian Natural Resources Limited CNQ $42.86 $31.54 -26%
EOG Resources, Inc EOG $139.89 $130.19 -7%
Occidental Petroleum Corporation OXY $54.86 $30.68 -44%
Diamondback Energy, Inc FANG $183.39 $106.12 -42%
Devon Energy Corporation DVN $43.83 $27.06 -38%
Woodside Energy Group WDS A$30.46 A$20.71 -32%
EQT Corporation EQT $48.85 $42.85 -12%
Texas Pacific Land Corporation TPL $415.70 $79.20 -81%

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Frequently asked questions

Is Stonehorse Energy Limited (SHE) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of A$0.0130 versus a price of A$0.0110, about +18% (undervalued).
What is the fair value of SHE?
Our model-based fair value for Stonehorse Energy Limited is A$0.0130 (as of Jul 19, 2026), built from audited fundamentals. The current price is A$0.0110.
What is the quality score of SHE?
Stonehorse Energy Limited has a Quality Score of 40/100. 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 Stonehorse Energy Limited (SHE)?
Stonehorse Energy Limited reported trailing-twelve-month revenue of about A$3.5M (latest available figure, as of Jul 19, 2026).
What is the net profit margin of SHE?
The net profit margin of Stonehorse Energy Limited is about 14.0%, meaning it keeps roughly 14.0% 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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