Bengal Energy

BNG.TO

Oil & Gas Exploration & Production · Energy

Price

C$0.02

+0.00 (+0.00%)

Market Cap

C$9.7M

Exchange

Toronto Stock Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Jul 25, 2026 · filings through Mar 31, 2026

Share count rising — dilution

+11.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 436.4M (2022) → 485.3M (2026)

Bengal Energy is a small Canadian oil and gas company that explores for and produces crude oil and natural gas. It focuses on finding and extracting hydrocarbons from underground reservoirs, then selling that raw energy to buyers in commodity markets. The company has historically operated in Australia, where it holds exploration and production assets.

Bengal makes money by selling the oil and gas it produces, meaning its revenue rises and falls directly with commodity prices. It is a very small company, with a market cap near zero, and it lacks the scale and diversification of larger energy producers, which makes it vulnerable to price swings and operational setbacks. The company is currently unprofitable at the operating level, and its main challenge is generating enough production volume and cash flow to fund ongoing exploration without diluting shareholders or taking on excessive debt.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+75.9% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+43.5% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

81.5%ownership

Insiders own a meaningful stake in the company

Cash Runway

~9 months

$308,000 cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Revenue accelerating

Bengal Energy grew revenue 76% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

65.0%

Premium pricing power — 65.0% gross margin

Operating Margin

34.3%

Excellent — 34.3% operating margin

ROCE

2.2%

Weak — 2.2% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

-16.9%

Shrinking sales (-16.9% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-11.0%

Burning cash (-11.0%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.08

Conservative — low debt load (0.08)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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