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Cue Energy Resources Limited

CUE.AX
68
Oil & Gas Exploration & Production · Energy
Price
A$0.12
+0.01 (+4.55%)
Market Cap
A$80.9M
Exchange
Australian Securities Exchange
Winston Score
68
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 23, 2026 · filings through Dec 31, 2025
How the score breaks down
Quality
Strong
Growth
Mixed
Cash Flow
Exceptional
Stability
Exceptional
Valuation
Good
Dividends
Good

Winston Score History

The full picture

Cue Energy Resources is a small Australian oil and gas company that finds and produces petroleum from underground reservoirs. It sells crude oil and natural gas to energy buyers in the Asia-Pacific region, with its main producing assets located in Indonesia and New Zealand. The company holds minority stakes in several offshore and onshore fields, meaning it shares production and costs with larger operating partners.

Cue makes money by selling its share of oil and gas output at prevailing market prices, so revenue rises and falls with commodity prices. It operates across a small number of fields, and its partnership model keeps capital costs lower but also limits direct control over operations. With a market cap of around $100 million, Cue is a micro-cap producer, and its biggest risk is its heavy dependence on a handful of aging fields — any unexpected production decline or sustained drop in oil prices could meaningfully hurt its cash flow.

Growth Profile

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

Revenue Growth

-5.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+17.7% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

A$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

48.1%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

A$17M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Cue Energy Resources Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

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.

Share count broadly stable

+0.1% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 698.1M (2021) → 698.8M (2025)

Score breakdown

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Quality

Profit per sale
Gross Margin
40.0%
Modest — 40.0% gross margin
Profit after running costs
Operating Margin
31.3%
Excellent — 31.3% operating margin
Return on the money invested
ROCE
29.5%
Exceptional — 29.5% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth
Sales YoY
+12.5%
Fast-growing sales (+12.5% YoY)
Profit growth
EPS YoY
-25.2%
Earnings shrinking (-25.2% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
284%
Turns 284% of profit into real cash
Spare cash per sale
FCF Margin
19.4%
Converts sales into free cash efficiently (19.4%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns
Debt / Equity
0.00
Conservative — low debt load (0.00)
Covers its interest
Interest Cover
33.34x
Comfortably covers interest (33.3x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
11.4x
Attractive valuation — P/E 11.4

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
6.82%
Healthy income — 6.82% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record
Dividend Growth
N/A
Data not available

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