Lakes Blue Energy NL

LKO.AX

Oil & Gas Exploration & Production · Energy

Price

A$0.26

-0.01 (-1.92%)

Market Cap

A$19.7M

Exchange

Australian Securities Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

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

How the score breaks down

Quality

Mixed

Growth

Good

Cash Flow

Weak

Stability

Data not available

Valuation

Weak

Dividends

Weak

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Share count rising — dilution

+70.1% over 4y

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

Diluted shares outstanding: 34.6M (2021) → 58.8M (2025)

Winston Score History

The full picture

Lakes Blue Energy NL, along with its affiliated entities, focuses on discovering oil and gas reserves. Its portfolio encompasses exploration permits for petroleum and minerals across various locations, including Victoria, Queensland, and South Australia in Australia, as well as in Papua New Guinea and the United States. Founded in 1946, the company operated as Lakes Oil NL until March 2021, when it adopted its current name, Lakes Blue Energy NL. The firm's headquarters are located in Sydney, Australia.

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

YoY Growth Rate

Revenue data limited

EPS Growth

-671.8% YoY

YoY Growth Rate

Earnings declining

R&D Spend

A$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Cash Runway

~14 months

A$6M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Adequate runway but may need to raise capital within 2 years

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

99.8%

Premium pricing power — 99.8% gross margin

Profit after running costs

Operating Margin

-1283.3%

Losing money on operations — -1283.3%

Return on the money invested

ROCE

-0.9%

Weak — -0.9% return on capital

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

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Growth

Sales growth

Sales YoY

>+1,000%

Fast-growing sales (>+1,000% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-54.6%

Burning cash (-54.6%)

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

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

38.1x

Pricey — P/E 38.1

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

0.78%

Small dividend — 0.78% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

N/A

no trend

Data not available

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