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

$5.44

23 May
2025

0.030

OPEN

$5.40

0.55%

HIGH

$5.47

3,094,398

LOW

$5.40

TARGET
$6.657 22.4% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
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FNARENA'S MARKET CONSENSUS FORECASTS
WHC: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 44.5 33.1 xxx
DPS (cps) xxx 20.0 15.9 xxx
EPS Growth xxx - 85.5% - 25.6% xxx
DPS Growth xxx - 73.0% - 20.7% xxx
PE Ratio xxx N/A 16.4 xxx
Dividend Yield xxx N/A 2.9% xxx
Div Pay Ratio(%) xxx 45.0% 47.9% xxx

Dividend yield today if purchased 3 years ago: 3.97%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.68

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

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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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

30/04/2025

1

Buy

$7.40

36.03%

Whitehaven Coal's 3Q25 result was in line with Citi's expectations, leading to minimal revisions in the broker's forecasts.

The company's FY25 guidance for production and coal sales is at the upper end of the initial guidance range, and unit cost is at the low end. The broker's forecasts align with them.

The broker notes the spot HCC price has risen to US$190/t due to interest from Indian steel mills.

Buy. Target price $7.40.

FORECAST
Citi forecasts a full year FY25 dividend of 11.00 cents and EPS of 50.70 cents.
Citi forecasts a full year FY26 dividend of 8.00 cents and EPS of 38.90 cents.

UBS

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

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

05/05/2025

3

Neutral

$5.70

4.78%

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
Next Week At A Glance – 26-30 May 2025

May 23 2025 - Weekly Reports
2
Treasure Chest: Whitehaven Versus Stanmore

May 14 2025 - Treasure Chest
3
Australian Broker Call *Extra* Edition – May 05, 2025

May 05 2025 - Daily Market Reports
4
Weekly Ratings, Targets, Forecast Changes – 18-04-25

Apr 22 2025 - Weekly Reports
5
In Case You Missed It – BC Extra Upgrades & Downgrades – 17-04-25

Apr 17 2025 - Weekly Reports

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