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

$5.65

20 Feb
2025

0.460

OPEN

$5.60

8.86%

HIGH

$5.67

19,216,278

LOW

$5.43

TARGET
$8.817

-0.18 change from previous day

 56.0% 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 44.1 xxx
DPS (cps) xxx 20.0 16.1 xxx
EPS Growth xxx - 85.5% - 0.9% xxx
DPS Growth xxx - 73.0% - 19.5% xxx
PE Ratio xxx N/A 12.8 xxx
Dividend Yield xxx N/A 2.8% xxx
Div Pay Ratio(%) xxx 45.0% 36.5% xxx

Dividend yield today if purchased 3 years ago: 6.47%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.54

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

1.0

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

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Bell Potter

21/02/2025

1

Buy

$8.00

41.59%

Whitehaven Coal reported 1H25 underlying earnings and profit ahead of Bell Potter, with group unit costs below expectations and FY25 guidance. A 9c (ff) dividend was declared equating to a 37% payout of underlying NSW profit, while a share buy-back program will resume.

In 2025 to-date, BOM data points to elevated rainfall across the Bowen Basin and Newcastle areas, the broker notes, which could hamper mining operations and logistics. January shipments out of the Port of Newcastle were down -20% year on year.

Bell Potter has downgraded its coal price forecasts which, along with more conservative near-term assumptions, reduces the broker's target price to $8.00 $9.00. Buy retained.

FORECAST
Bell Potter forecasts a full year FY25 dividend of 16.60 cents and EPS of 41.00 cents.
Bell Potter forecasts a full year FY26 dividend of 14.00 cents and EPS of 68.20 cents.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

-1

xx xxxxxx

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

30/01/2025

1

Buy

$8.90

57.52%

Goldman Sachs reckons Whitehaven Coal reported a strong 2Q25 result, with saleable coal production of 7.8Mt and 8.1Mt sales -5% and 10% versus its estimates.

The company stated production is on track to meet the top of FY25 production range and unit costs continue to track the bottom of the 140-155/t guidance range. Price realisations for both met and thermal coal were slightly below the broker's estimates.

Goldman lowered FY25 EBITDA estimate by -4% but raised FY26 estimate by 1% after incorporating a decrease in near-term realised pricing, changes to product mix and one-off costs in FY25 associated with the cost reduction program at the Queensland assets.

The broker also decreased its EV/EBITDA multiple from 4.0x to 3.5x to be in line with the median average for the global coal sector.

Target price is $8.9. Buy rating maintained.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 27.00 cents and EPS of 85.00 cents.
Goldman Sachs forecasts a full year FY26 dividend of 46.00 cents and EPS of 122.00 cents.
Access Extra Coverage Research History >

WHC STOCK CHART

FNArena News on WHC

1
FNArena Corporate Results Monitor – 22-02-2025

2:00 PM - Australia
2
Rudi’s View: AGL Energy, Bega Cheese, BRG, Harvey Norman, Imdex & Superloop

Feb 06 2025 - Rudi's View
3
Whitehaven Coal: Sales Up, Prices Down

Jan 31 2025 - Commodities
4
Rudi’s View: Cochlear, Guzman y Gomez, SiteMinder, Wesfarmers & Xero

Jan 30 2025 - Rudi's View
5
Australian Broker Call *Extra* Edition – Jan 30, 2025

Jan 30 2025 - Daily Market Reports

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