WHITEHAVEN COAL LIMITED (WHC)
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WHC

WHC - WHITEHAVEN COAL LIMITED

FNArena Sector : Coal
Year End: June
GICS Industry Group : Energy
Debt/EBITDA: 1.35
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Whitehaven Coal is an Australian coal miner with four mines in the Gunnedah region of New South Wales. Three are open cut, with the other underground. The company was listed on the ASX in 2007.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$5.05

02 May
2025

0.110

OPEN

$4.99

2.23%

HIGH

$5.10

5,146,762

LOW

$4.96

TARGET
$6.936 37.3% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
BCB . BRL . CRN . MMI . NHC . SMR . TER . YAL .
FNARENA'S MARKET CONSENSUS FORECASTS
WHC: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 44.5 34.9 xxx
DPS (cps) xxx 20.0 16.7 xxx
EPS Growth xxx - 85.5% - 21.4% xxx
DPS Growth xxx - 73.0% - 16.4% xxx
PE Ratio xxx N/A 14.3 xxx
Dividend Yield xxx N/A 3.4% xxx
Div Pay Ratio(%) xxx 45.0% 47.8% xxx

Dividend yield today if purchased 3 years ago: 3.94%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.02

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 13c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx44.5
DPS All xxxxxxxxxxxxxxx20.0
Sales/Revenue xxxxxxxxxxxxxxx3,824.0 M
Book Value Per Share xxxxxxxxxxxxxxx631.7
Net Operating Cash Flow xxxxxxxxxxxxxxx252.0 M
Net Profit Margin xxxxxxxxxxxxxxx9.28 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx6.74 %
Return on Invested Capital xxxxxxxxxxxxxxx5.73 %
Return on Assets xxxxxxxxxxxxxxx3.39 %
Return on Equity xxxxxxxxxxxxxxx6.74 %
Return on Total Capital xxxxxxxxxxxxxxx16.00 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-560.0 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 xxxxxxxxxxxxxxx147 M
Long Term Debt xxxxxxxxxxxxxxx1,744 M
Total Debt xxxxxxxxxxxxxxx1,891 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx405 M
Price To Book Value xxxxxxxxxxxxxxx1.21

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx454.0 M
Capex % of Sales xxxxxxxxxxxxxxx11.87 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,916 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx899 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx70 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

0.7

No. Of Recommendations

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

Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

30/04/2025

3

Neutral

$5.15

1.98%

March quarter production for Whitehaven Coal was stronger-than-expected by UBS and unit costs were also lower-than-forecast, though realised pricing remained soft.

Total ROM production reached 9.2mt, beating consensus of 8.4mt, while unit costs remain on track for the low end of FY25 guidance range, highlights the broker.

Blackwater and Maules Creek delivered solid results, in the analysts' view, while Narrabri lagged due to longwall productivity issues ahead of an 8-week longwall move starting April.

The broker’s Neutral rating and $5.15 target are unchanged.

FORECAST
UBS forecasts a full year FY25 dividend of 19.00 cents and EPS of 20.00 cents.
UBS forecasts a full year FY26 dividend of 21.00 cents and EPS of 22.00 cents.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

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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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

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

01/05/2025

3

Neutral

$5.70

12.87%

Whitehaven Coal's 3Q25 coal production beat Goldman Sachs' forecast by 6%, but sales fell short by -3%. The company reiterated FY25 production to the top of the 35.0-39.5Mt range, and the broker maintained its forecast for 38.2Mt.

The analyst notes the production guidance implies a strong 4Q, with ongoing benefits like to come from improved mining productivity and open-cut activity during drier months.

The company expects FY25 cost to come at the bottom of $140-$155/t range, but the broker's forecast was previously below the range, prompting a lift to $141/t. 

Neutral. Target unchanged at $5.70.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 12.00 cents and EPS of 34.00 cents.
Goldman Sachs forecasts a full year FY26 dividend of 7.00 cents and EPS of 14.00 cents.
Access Extra Coverage Research History >

WHC STOCK CHART

FNArena News on WHC

1
Australian Broker Call *Extra* Edition – May 05, 2025

10:35 AM - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 18-04-25

Apr 22 2025 - Weekly Reports
3
In Case You Missed It – BC Extra Upgrades & Downgrades – 17-04-25

Apr 17 2025 - Weekly Reports
4
Australian Broker Call *Extra* Edition – Apr 14, 2025

Apr 14 2025 - Daily Market Reports
5
Rudi’s View: Coal, Copper, Car Group & More

Mar 27 2025 - Rudi's View

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