Tamboran Resources

TBN

Oil & Gas Exploration & Production · Energy

Price

$31.43

+0.19 (+0.61%)

Market Cap

$890.0M

Exchange

New York Stock Exchange

Winston Score

–

No score yet — Winston is napping.

We couldn’t gather enough financial data to score this stock reliably.

Share count rising — dilution

+1810.4% over 4y

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

Diluted shares outstanding: 767K (2021) → 14.7M (2025)

Tamboran Resources is an energy company focused on finding and producing natural gas in Australia. Its main asset is a large shale gas project in the Beetaloo Basin in the Northern Territory, one of the most promising untapped natural gas regions in the world. The company is working to develop this resource and eventually supply gas to Australian and export markets.

Tamboran is still in the early exploration and development stage, which is why it currently earns little to no revenue — it is spending money to drill wells and prove out the resource before full production begins. The company operates entirely in Australia and has a market value of roughly $900 million, reflecting investor bets on future production rather than current earnings. The key growth driver is successfully scaling up gas production and securing long-term supply contracts, but the main risks are high development costs, regulatory hurdles around shale drilling in Australia, and the time it takes to move from exploration to commercial output.

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

Revenue data limited

EPS Growth

+8.7% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

$6M/ year

Research and development spending

Insider Activity

42.1%ownership

Insiders own a meaningful stake in the company

Cash Runway

~11 months

$102M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Tamboran Resources has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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

N/A

—

Data not available

Operating Margin

N/A

—

Data not available

ROCE

-1.9%

Weak — -1.9% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

N/A

—

Data not available

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

N/A

—

Data not available

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Stability

Debt / Equity

0.11

Conservative — low debt load (0.11)

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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