FORTESCUE LIMITED (FMG)
Share Price Analysis and Chart

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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

$17.75

20 Nov
2024

0.000

OPEN

$17.94

0.000

HIGH

$18.05

4,758,856

LOW

$17.75

TARGET
$18.256 2.8% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ARI . BCI . CIA . DRR . FEX . GEN . GRR . MGX . MIN . RHK .
FNARENA'S MARKET CONSENSUS FORECASTS
FMG: 1
Title FY25
Forecast		 FY26
Forecast
EPS (cps) 167.7 xxx
DPS (cps) 82.9 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 10.8 xxx
Dividend Yield 4.6% xxx
Div Pay Ratio(%) 49.4% 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: 12.47%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 10.88

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 © 2024 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

-0.2

No. Of Recommendations

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

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

25/10/2024

5

Downgrade to Sell from Hold

$17.04

-4.00%

Fortescue reported a fall in 1Q25 production of -12% on the previous quarter with shipments lower than Bell Potter's expectations and costs higher than forecast.

The analyst views the result as "soft", exemplifying some of the headwinds the company will face in FY25 as cost inflation remains stubborn and production declines despite a lift from Iron Bridge.

Bell Potter lowers EPS forecasts by -19% in FY25 and -10% in FY26 due to lower prices realised and higher cost assumptions.

The stock is downgraded to Sell from Hold with a reduced target price of $17.04 from $17.58.

FORECAST
Bell Potter forecasts a full year FY25 dividend of 84.00 cents and EPS of 114.58 cents.
Bell Potter forecasts a full year FY26 dividend of 80.00 cents and EPS of 117.59 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

5

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

Goldman Sachs

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Jarden

16/10/2024

4

Underweight

$16.81

-5.30%

Jarden observes the powerhouse of earnings for Fortescue, the direct shipping of ore from Pilbara is now experiencing a decline in reserves.

The broker points to a fall of -116mt in the year ending June 30, which accumulates to a decline in reserves annually of -24% since 2018.

The decline is not a concern in isolation, but the division does generate cash for development of the energy division.

Target price $16.81 with an Underweight rating remaining.

FORECAST
Jarden forecasts a full year FY25 EPS of 194.18 cents.
Jarden forecasts a full year FY26 EPS of 103.72 cents.
Access Extra Coverage Research History >

FMG STOCK CHART

FNArena News on FMG

1
Material Matters: Global LNG, Aussie Gas & Iron

Nov 11 2024 - Commodities
2
Fortescue Looks Poised

Nov 05 2024 - Technicals
3
Australian Broker Call *Extra* Edition – Oct 31, 2024

Oct 31 2024 - Daily Market Reports
4
Weekly Ratings, Targets, Forecast Changes – 25-10-24

Oct 28 2024 - Weekly Reports
5
Next Week At A Glance – 28 Oct -1 Nov 2024

Oct 25 2024 - Weekly Reports

Latest Iron Ore News

1
Fortescue Looks Poised

Nov 05 2024 - Technicals
2
Quality Ore Elevates A Champion

Oct 10 2024 - ESG Focus
3
The Downs And Ups Of Mineral Resources

Sep 19 2024 - Commodities
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Fortescue Shares Oversold

Jul 09 2024 - Technicals
5
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May 15 2024 - ESG Focus
8
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Mar 26 2024 - Technicals
9
ESG Focus: Grid Set To Enter An Iron Age

Sep 21 2023 - ESG Focus
10
Mineral Resources: Downturn Complete

Jul 04 2023 - Technicals