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Tamboran Resources (ASX:TBN) has caught investor attention after recent share price moves, with the stock showing a mix of short term volatility and stronger longer term returns that invite closer inspection.
See our latest analysis for Tamboran Resources.
The recent 1 day share price return of 10.45% decline sits against a 7 day share price return of 25% and a 90 day share price return of 50%, while the 1 year total shareholder return of 76.47% points to momentum that has been building over a longer horizon.
If this kind of move has you looking beyond a single name, it could be a good time to see what is happening across 93 nuclear energy infrastructure stocks.
With Tamboran Resources trading at A$0.30 against an analyst price target of A$0.41 and an intrinsic discount figure of 0.98, investors now face a key question: is there real upside left, or is the market already pricing in future growth?
Tamboran Resources currently trades on a P/B of 2.6x, compared with an Australian Oil and Gas industry average of 1.4x and a peer average of 2.3x, so the shares are pricing in a richer valuation than many comparables at A$0.30.
The P/B ratio compares the market value of the company to its book value. This can be useful for asset heavy sectors like oil and gas where reserves and infrastructure sit on the balance sheet. A higher P/B often signals that investors are assigning more value to future projects or expected improvements in profitability than what is visible in current accounting equity.
For Tamboran Resources, the higher P/B multiple sits alongside forecasts that revenue could grow 70% per year and that earnings are expected to grow 60.54% per year and move into profitability within the next three years. Against that backdrop, the current multiple suggests the market is willing to pay a premium for these forecasts, even though the company is currently loss making and has recorded increasing losses over the past five years.
Compared with the broader Australian Oil and Gas industry P/B of 1.4x and a peer group average of 2.3x, Tamboran Resources sits toward the upper end of the range. This implies the market is assigning it a stronger outlook than many industry peers at this point.
See what the numbers say about this price — find out in our valuation breakdown.
Result: Price-to-book of 2.6x (OVERVALUED).
However, investors also need to weigh the current loss of $31.64m and zero reported revenue, along with the recent 10.45% one-day share price decline.
Find out about the key risks to this Tamboran Resources narrative.
While the P/B of 2.6x suggests Tamboran Resources looks expensive next to an industry average of 1.4x and a peer average of 2.3x, the SWS DCF model paints a very different picture. At A$0.30, the shares trade well below an estimated future cash flow value of A$14.57, which implies a very large gap between price and that model outcome. The question for you is which lens feels more realistic for a loss making, early stage gas developer.
Look into how the SWS DCF model arrives at its fair value.
TBN Discounted Cash Flow as at Apr 2026
Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Tamboran Resources for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 7 high quality undervalued stocks. If you save a screener we even alert you when new companies match – so you never miss a potential opportunity.
With mixed signals across valuation methods and sentiment, this is a moment to look at the data yourself and decide quickly where you stand. To weigh both sides in one place, start with the 2 key rewards and 2 important warning signs
If Tamboran has caught your eye, do not stop there. Spread your research across other types of opportunities so you are not relying on a single story.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include TBN.AX.
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