Stock FMG FORTESCUE LTD
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Financials Fortescue Ltd

Equities

FMG

AU000000FMG4

Iron & Steel

Market Closed - Australian S.E.
Other stock markets
 07:10:42 01/05/2024 BST 		5-day change 1st Jan Change
25.32 AUD -2.80% Intraday chart for Fortescue Ltd +2.93% -12.75%
04-30 Australian shares edge higher with Fed policy decision in focus RE
04-24 Materials Slip as Dollar Strength Weighs -- Materials Roundup DJ

Valuation

Fiscal Period: Juni 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 19,481 29,412 53,850 37,193 45,438 50,577 - -
Enterprise Value (EV) 1 21,559 29,670 51,172 38,072 46,472 51,214 51,179 50,970
P/E ratio 6.14 x 6.24 x 5.22 x 6.01 x 9.49 x 8.47 x 11 x 13.1 x
Yield 12.2% 13.2% 14.9% 11.9% 7.59% 7.63% 5.57% 4.58%
Capitalization / Revenue 1.95 x 2.29 x 2.42 x 2.14 x 2.69 x 2.74 x 3.01 x 3.21 x
EV / Revenue 2.16 x 2.31 x 2.3 x 2.19 x 2.75 x 2.78 x 3.05 x 3.23 x
EV / EBITDA 3.57 x 3.54 x 3.13 x 3.6 x 4.66 x 4.73 x 5.79 x 6.49 x
EV / FCF 6.47 x 6.67 x 5.71 x 10.7 x 10.8 x 10.5 x 12.9 x 14.8 x
FCF Yield 15.5% 15% 17.5% 9.38% 9.25% 9.55% 7.77% 6.74%
Price to Book 1.84 x 2.22 x 3.04 x 2.15 x 2.53 x 2.57 x 2.36 x 2.21 x
Nbr of stocks (in thousands) 3,077,453 3,077,734 3,077,329 3,076,704 3,075,974 3,075,972 - -
Reference price 2 6.330 9.556 17.50 12.09 14.77 16.92 16.92 16.92
Announcement Date 25/08/19 23/08/20 29/08/21 28/08/22 27/08/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 9,965 12,820 22,284 17,390 16,871 18,455 16,783 15,776
EBITDA 1 6,047 8,375 16,375 10,561 9,963 10,822 8,835 7,851
EBIT 1 4,822 6,912 14,946 9,000 7,020 8,990 7,135 5,986
Operating Margin 48.39% 53.92% 67.07% 51.75% 41.61% 48.71% 42.51% 37.94%
Earnings before Tax (EBT) 1 4,569 6,690 14,722 8,846 6,886 8,770 7,134 5,822
Net income 1 3,187 4,735 10,295 6,197 4,798 6,166 4,859 4,062
Net margin 31.98% 36.93% 46.2% 35.64% 28.44% 33.41% 28.95% 25.75%
EPS 2 1.031 1.532 3.350 2.010 1.557 1.997 1.540 1.287
Free Cash Flow 1 3,333 4,449 8,961 3,572 4,300 4,892 3,978 3,436
FCF margin 33.45% 34.7% 40.21% 20.54% 25.49% 26.51% 23.7% 21.78%
FCF Conversion (EBITDA) 55.12% 53.12% 54.72% 33.82% 43.16% 45.21% 45.02% 43.76%
FCF Conversion (Net income) 104.58% 93.96% 87.04% 57.64% 89.62% 79.35% 81.86% 84.57%
Dividend per Share 2 0.7716 1.260 2.611 1.433 1.121 1.291 0.9424 0.7751
Announcement Date 25/08/19 23/08/20 29/08/21 28/08/22 27/08/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2 2026 S1
Net sales 1 6,485 6,335 9,335 12,949 8,125 9,265 7,835 9,036 9,512 8,913 7,983 7,556 7,584
EBITDA 1 4,228 4,147 6,639 9,736 4,762 5,799 4,352 5,611 5,912 4,929 - - -
EBIT 1 3,550 3,362 5,939 9,007 4,024 4,976 3,457 3,563 4,958 4,104 3,026 2,556 2,730
Operating Margin 54.74% 53.07% 63.62% 69.56% 49.53% 53.71% 44.12% 39.43% 52.12% 46.04% 37.91% 33.83% 36%
Earnings before Tax (EBT) 1 3,427 3,263 5,864 8,858 3,948 4,898 3,398 3,488 4,860 3,928 3,019 2,512 -
Net income 1 2,453 2,282 4,084 6,211 2,777 3,420 2,368 2,430 3,337 2,913 2,371 2,203 -
Net margin 37.83% 36.02% 43.75% 47.97% 34.18% 36.91% 30.22% 26.89% 35.08% 32.69% 29.7% 29.15% -
EPS 2 0.7970 0.7350 1.327 2.023 0.9030 1.107 0.7680 0.7890 1.083 0.8567 0.5300 0.5750 0.5900
Dividend per Share 2 0.5085 0.7162 1.137 - 0.6142 - 0.5224 0.6404 0.7069 0.6351 - - -
Announcement Date 18/02/20 23/08/20 17/02/21 29/08/21 15/02/22 28/08/22 14/02/23 27/08/23 21/02/24 - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,078 258 - 879 1,034 637 602 393
Net Cash position 1 - - 2,678 - - - - -
Leverage (Debt/EBITDA) 0.3436 x 0.0308 x - 0.0832 x 0.1038 x 0.0588 x 0.0682 x 0.0501 x
Free Cash Flow 1 3,333 4,449 8,961 3,572 4,300 4,892 3,978 3,436
ROE (net income / shareholders' equity) 31% 40% 66% 35.3% 31% 31.8% 24.5% 18.4%
ROA (Net income/ Total Assets) 17% 22% 39.8% 21.8% 19.5% 21.1% 16.6% 13.3%
Assets 1 18,771 21,546 25,890 28,379 24,578 29,276 29,279 30,451
Book Value Per Share 2 3.440 4.300 5.760 5.640 5.850 6.570 7.170 7.660
Cash Flow per Share 2 1.410 2.080 4.080 2.160 2.410 2.620 2.140 2.150
Capex 1 1,040 1,966 3,633 3,074 3,200 3,045 3,177 2,983
Capex / Sales 10.44% 15.34% 16.3% 17.68% 18.97% 16.5% 18.93% 18.91%
Announcement Date 25/08/19 23/08/20 29/08/21 28/08/22 27/08/23 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Fortescue Ltd

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
16
Last Close Price
16.92 USD
Average target price
14.1 USD
Spread / Average Target
-16.68%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Iron Ore Mining

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Iron Ore Mining
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