FORTESCUE LIMITED (FMG)
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FMG

FMG - FORTESCUE LIMITED

FNArena Sector : Iron Ore
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0.5
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Fortescue Metals is an Australian iron ore company with operations in the Pilbara, Western Australia. It is the fourth largest iron ore producer in the world and became a listed company, through a backdoor-listing, in 2003.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$16.17

12 May
2025

0.210

OPEN

$16.14

1.32%

HIGH

$16.26

5,230,844

LOW

$16.01

TARGET
$17.127 5.9% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ARI . BCI . CIA . DRR . FEX . GEN . GRR . MGX . MIN .
FNARENA'S MARKET CONSENSUS FORECASTS
FMG: 1
Title FY25
Forecast		 FY26
Forecast
EPS (cps) 167.4 xxx
DPS (cps) 102.6 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 9.9 xxx
Dividend Yield 6.2% xxx
Div Pay Ratio(%) 61.3% xxx
This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 10.16%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 11.87

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 04/09 - ex-div 89c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx282.0
DPS All xxxxxxxxxxxxxxx197.0
Sales/Revenue xxxxxxxxxxxxxxx27,804.6 M
Book Value Per Share xxxxxxxxxxxxxxx951.8
Net Operating Cash Flow xxxxxxxxxxxxxxx12,026.8 M
Net Profit Margin xxxxxxxxxxxxxxx31.19 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx30.81 %
Return on Invested Capital xxxxxxxxxxxxxxx24.14 %
Return on Assets xxxxxxxxxxxxxxx19.31 %
Return on Equity xxxxxxxxxxxxxxx30.81 %
Return on Total Capital xxxxxxxxxxxxxxx35.83 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx1,384.1 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx287 M
Long Term Debt xxxxxxxxxxxxxxx7,798 M
Total Debt xxxxxxxxxxxxxxx8,086 M
Goodwill - Gross xxxxxxxxxxxxxxx292 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx7,341 M
Price To Book Value xxxxxxxxxxxxxxx2.25

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx4,324.8 M
Capex % of Sales xxxxxxxxxxxxxxx15.55 %
Cost of Goods Sold xxxxxxxxxxxxxxx13,452 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,390 M
Research & Development xxxxxxxxxxxxxxx755 M
Investments - Total xxxxxxxxxxxxxxx545 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.4

No. Of Recommendations

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

30/04/2025

3

Neutral

$15.30

-5.38%

Fortescue delivered a strong 3Q operational performance, according to UBS, with total shipments of 46.1mt, in line with guidance despite adverse weather.

Hematite shipments totaled 44.6mt, while Iron Bridge shipped 1.5mt. Unit costs for hematite declined -4% quarter-on-quarter to US$17.53/wmt, remaining among the lowest in the industry, highlight the analysts.

Realised prices were soft, with hematite sales achieving 84% of the 62% benchmark, though the broker notes share of lower-grade Super Special fines moderated.

Management completed the -$254m Red Hawk acquisition during the quarter and reported net debt of US$2.1bn, better than consensus.

Full-year FY25 shipment guidance of 190-200mt was reiterated.

UBS remains Neutral with a $15.30 price target, flagging downside risk to earnings due to commodity pricing and macroeconomic uncertainty.

FORECAST
UBS forecasts a full year FY25 dividend of 170.74 cents and EPS of 170.74 cents.
UBS forecasts a full year FY26 dividend of 116.91 cents and EPS of 121.52 cents.

Citi

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Goldman Sachs

13/04/2025

3

Upgrade to Neutral from Sell

$15.30

-5.38%

A recent China trip and a review of supply/dynamics due to the impact of global tariffs have resulted in Goldman Sachs downgrading most commodity price forecasts while raising estimates for precious metals.

This resulted in downgrades to 2025 and 2026 earnings (EBITDA) and price targets for most companies under their coverage.

In addition to revisions to commodity prices, the broker cut the forecast for Fortescue's March quarter Pilbara iron ore shipments and pushed back Pilbara decarbonisation capex by six months. The broker also reduced Iron Bridge price realisations in the near term.

Rating upgraded to Neutral from Sell. Target cut to $15.30 from $16.20.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 101.52 cents and EPS of 167.67 cents.
Goldman Sachs forecasts a full year FY26 dividend of 66.14 cents and EPS of 132.29 cents.
Access Extra Coverage Research History >

FMG STOCK CHART

FNArena News on FMG

1
Positive Reversal For Fortescue

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2
Australian Broker Call *Extra* Edition – May 05, 2025

May 05 2025 - Daily Market Reports
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Australian Broker Call *Extra* Edition – May 01, 2025

May 01 2025 - Daily Market Reports

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