Stock FMG FORTESCUE LTD
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Financials Fortescue Ltd

Equities

FMG

AU000000FMG4

Iron & Steel

Market Closed - Australian S.E.
Other stock markets
 02:10:51 2024-05-31 am EDT 		5-day change 1st Jan Change
24.74 AUD -0.16% Intraday chart for Fortescue Ltd -7.58% -14.75%
May. 29 Australian shares hit 3-week low as financials drag, inflation data in focus RE
May. 27 Australian shares rise as banks and miners gain; Lendlease soars RE

Valuation

Fiscal Period: Junio 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 19,481 29,412 53,850 37,193 45,438 50,528 - -
Enterprise Value (EV) 1 21,559 29,670 51,172 38,072 46,472 51,164 50,898 50,805
P/E ratio 6.14 x 6.24 x 5.22 x 6.01 x 9.49 x 8.19 x 10.5 x 12.9 x
Yield 12.2% 13.2% 14.9% 11.9% 7.59% 8.23% 6.18% 4.83%
Capitalization / Revenue 1.95 x 2.29 x 2.42 x 2.14 x 2.69 x 2.74 x 3 x 3.22 x
EV / Revenue 2.16 x 2.31 x 2.3 x 2.19 x 2.75 x 2.78 x 3.02 x 3.24 x
EV / EBITDA 3.57 x 3.54 x 3.13 x 3.6 x 4.66 x 4.72 x 5.72 x 6.55 x
EV / FCF 6.47 x 6.67 x 5.71 x 10.7 x 10.8 x 9.84 x 12 x 15.4 x
FCF Yield 15.5% 15% 17.5% 9.38% 9.25% 10.2% 8.37% 6.51%
Price to Book 1.84 x 2.22 x 3.04 x 2.15 x 2.53 x 2.5 x 2.29 x 2.15 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 16.43 16.43 16.43
Announcement Date 8/25/19 8/23/20 8/29/21 8/28/22 8/27/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Junio 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 9,965 12,820 22,284 17,390 16,871 18,436 16,854 15,677
EBITDA 1 6,047 8,375 16,375 10,561 9,963 10,846 8,897 7,759
EBIT 1 4,822 6,912 14,946 9,000 7,020 9,009 7,183 5,876
Operating Margin 48.39% 53.92% 67.07% 51.75% 41.61% 48.87% 42.62% 37.48%
Earnings before Tax (EBT) 1 4,569 6,690 14,722 8,846 6,886 8,825 7,215 5,759
Net income 1 3,187 4,735 10,295 6,197 4,798 6,194 4,917 4,023
Net margin 31.98% 36.93% 46.2% 35.64% 28.44% 33.6% 29.17% 25.66%
EPS 2 1.031 1.532 3.350 2.010 1.557 2.005 1.562 1.276
Free Cash Flow 1 3,333 4,449 8,961 3,572 4,300 5,201 4,258 3,309
FCF margin 33.45% 34.7% 40.21% 20.54% 25.49% 28.21% 25.26% 21.11%
FCF Conversion (EBITDA) 55.12% 53.12% 54.72% 33.82% 43.16% 47.96% 47.86% 42.65%
FCF Conversion (Net income) 104.58% 93.96% 87.04% 57.64% 89.62% 83.97% 86.6% 82.27%
Dividend per Share 2 0.7716 1.260 2.611 1.433 1.121 1.351 1.015 0.7933
Announcement Date 8/25/19 8/23/20 8/29/21 8/28/22 8/27/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: Junio 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 4,228 4,147 6,639 9,736 4,762 5,799 4,352 5,611 5,912 - - - -
EBIT 1 3,550 3,362 5,939 9,007 4,024 4,976 3,457 3,563 4,958 4,141 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% 46.46% 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 2/18/20 8/23/20 2/17/21 8/29/21 2/15/22 8/28/22 2/14/23 8/27/23 2/21/24 - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: Junio 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,078 258 - 879 1,034 636 371 277
Net Cash position 1 - - 2,678 - - - - -
Leverage (Debt/EBITDA) 0.3436 x 0.0308 x - 0.0832 x 0.1038 x 0.0587 x 0.0417 x 0.0357 x
Free Cash Flow 1 3,333 4,449 8,961 3,572 4,300 5,201 4,258 3,309
ROE (net income / shareholders' equity) 31% 40% 66% 35.3% 31% 32% 24.7% 18.1%
ROA (Net income/ Total Assets) 17% 22% 39.8% 21.8% 19.5% 21% 16.5% 13.4%
Assets 1 18,771 21,546 25,890 28,379 24,578 29,505 29,747 30,116
Book Value Per Share 2 3.440 4.300 5.760 5.640 5.850 6.580 7.180 7.640
Cash Flow per Share 2 1.410 2.080 4.080 2.160 2.410 2.640 2.220 2.100
Capex 1 1,040 1,966 3,633 3,074 3,200 2,975 3,115 3,055
Capex / Sales 10.44% 15.34% 16.3% 17.68% 18.97% 16.14% 18.48% 19.48%
Announcement Date 8/25/19 8/23/20 8/29/21 8/28/22 8/27/23 - - -
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
17
Last Close Price
16.43 USD
Average target price
14.09 USD
Spread / Average Target
-14.21%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Iron Ore Mining

1st Jan change Capi.
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Iron Ore Mining
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