PILBARA MINERALS LIMITED (PLS)
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PLS

PLS - PILBARA MINERALS LIMITED

FNArena Sector : New Battery Elements
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 1.01
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.31

11 Aug
2025

0.380

OPEN

$2.20

19.69%

HIGH

$2.31

113,222,648

LOW

$2.16

TARGET
$1.829

+0.07 change from previous day

 -20.8% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
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FNARENA'S MARKET CONSENSUS FORECASTS
PLS: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 8.5 - 1.1 xxx
DPS (cps) xxx N/A 0.0 xxx
EPS Growth xxx - 89.3% N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A N/A xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

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: 05/09 - ex-div 14c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx8.5
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx1,254.1 M
Book Value Per Share xxxxxxxxxxxxxxx107.8
Net Operating Cash Flow xxxxxxxxxxxxxxx-481.0 M
Net Profit Margin xxxxxxxxxxxxxxx20.48 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx7.74 %
Return on Invested Capital xxxxxxxxxxxxxxx6.94 %
Return on Assets xxxxxxxxxxxxxxx5.40 %
Return on Equity xxxxxxxxxxxxxxx7.74 %
Return on Total Capital xxxxxxxxxxxxxxx10.34 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-1,712.1 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 xxxxxxxxxxxxxxx136 M
Long Term Debt xxxxxxxxxxxxxxx420 M
Total Debt xxxxxxxxxxxxxxx556 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,626 M
Price To Book Value xxxxxxxxxxxxxxx2.85

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx810.0 M
Capex % of Sales xxxxxxxxxxxxxxx64.59 %
Cost of Goods Sold xxxxxxxxxxxxxxx776 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx82 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx128 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

0.3

No. Of Recommendations

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

UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

04/08/2025

5

Sell

$1.20

-48.05%

According to Ord Minnett, Pilbara Minerals reported a solid June quarter result with both production and shipments coming in above consensus by 10%–13%, with pricing a slight miss due to some one-off changes in sales grades.

The miner's production of 755kt was above the 700kt–740kt range, with FOB costs of $627/t and capex of -$569m at the bottom end of guidance.

Management announced FY26 guidance which broadly met the market's expectations. The Ngungaju plant is anticipated to remain offline for FY26 but could restart if market conditions improve.

The analyst points to sizeable downgrades in earnings estimates for FY25–FY27 because of higher depreciation and amortisation, as well as losses on the POSCO JV in 2H25, plus spending on the newly acquired Colina project.

Sell rating retained on valuation grounds. Target lifts to $1.20 from $1.15.

Bell Potter

xx/xx/xxxx

1

xxx

$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

1

xxxxxxxxxx

$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

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

04/08/2025

1

Buy

$2.20

-4.76%

Jarden continues to describe Pilbara Minerals' balance sheet as a "fortress" even after it dipped marginally below $1bn for the first time since the September quarter of 2023.

In the June quarter, production, sales, revenue, and realised price all beat the broker's forecasts.

The FY26 production guidance came at 820-870kt, but the broker retained its 876kt forecast. Cost guidance was 1.6% higher and capex was 11% higher, prompting the broker to lift its capex assumption.

Buy. Target cut to $2.20 from $2.40 as the broker incorporated lower SC6 price of US$888/t over FY26-27. Higher capex and operating costs also marginally contributed to lowering the target price.

FORECAST
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -3.60 cents.
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 2.70 cents.
Access Extra Coverage Research History >

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