FAR Limited

FAR.AX

Oil & Gas Exploration & Production · Energy

Price

A$0.30

+0.00 (+0.00%)

Market Cap

A$27.7M

Exchange

Australian Securities Exchange

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Strong

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Data not available

Dividends

Good

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Share count falling — buybacks

−7.4% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 99.8M (2021) → 92.4M (2025)

Winston Score History

The full picture

FAR Limited is a small Australian oil and gas exploration company. It searches for oil and natural gas deposits beneath the ocean floor, primarily off the coast of West Africa. The company's main focus has been the Sangomar oil field in Senegal, which is one of the largest offshore oil discoveries in West Africa in recent years.

FAR makes money by holding ownership stakes in oil and gas projects. When oil is produced and sold, FAR receives a share of the revenue based on its percentage interest in each project. The company operates almost entirely in Senegal and is very small, with a market cap near zero, reflecting years of exploration spending without significant production income. FAR faces serious financial risk because it sold its stake in the Sangomar field in 2021 after failing to secure funding, leaving it without a clear producing asset and actively searching for a new path forward.

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

-74.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

73.3%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Runway

5+ years

Quarterly Free Cash Flow

↑ Burn rate improving

$17M cash & investments at current burn rate

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

Profit per sale

Gross Margin

100.0%

Premium pricing power — 100.0% gross margin

Profit after running costs

Operating Margin

68.8%

Excellent — 68.8% operating margin

Return on the money invested

ROCE

0.8%

Weak — 0.8% 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 growth

Sales YoY

N/A

—

Data not available

Profit growth

EPS YoY

-101.5%

Earnings shrinking (-101.5% 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

N/A

Data not available

Spare cash per sale

FCF Margin

-57.4%

Burning cash (-57.4%)

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

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

100.00x

Comfortably covers interest (100.0x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

116.67%

Healthy income — 116.67% 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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