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

$5.02

14 Apr
2025

0.230

OPEN

$4.86

4.80%

HIGH

$5.05

6,362,438

LOW

$4.85

TARGET
$7.783 55.0% 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 42.1 xxx
DPS (cps) xxx 20.0 16.5 xxx
EPS Growth xxx - 85.5% - 5.4% xxx
DPS Growth xxx - 73.0% - 17.5% xxx
PE Ratio xxx N/A 11.9 xxx
Dividend Yield xxx N/A 3.3% xxx
Div Pay Ratio(%) xxx 45.0% 39.2% xxx

Dividend yield today if purchased 3 years ago: 4.38%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.18

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

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

17/03/2025

1

Buy

$8.60

71.31%

Citi expects India's increasing steel production and restrictions on metallurgical coke imports to bolster demand for metallurgical coal.

The broker also sees China’s 15% tariff on US coking coal as a catalyst for shifting trade flows towards Australian supply.

With Australian prime hard coking coal priced at US$183/t, near levels that challenge US East Coast producers, the analysts believe supply constraints could drive a price recovery.

The Buy rating and $8.60 target for Whitehaven Coal are unchanged.

FORECAST
Citi forecasts a full year FY25 dividend of 9.00 cents and EPS of 46.40 cents.
Citi forecasts a full year FY26 dividend of 13.00 cents and EPS of 66.50 cents.

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

10/04/2025

3

Downgrade to Neutral from Buy

$5.70

13.55%

A recent China trip and a review of supply/dynamics due to the impact of global tariffs have resulted in Goldman Sachs downgrading most commodity price forecasts while raising estimates for precious metals.

This resulted in downgrades to 2025 and 2026 EBITDA and price targets for most companies under their coverage.

In addition to revisions to commodity prices, the broker included 30% sale of Blackwater for US$1.08bn into Whitehaven Coal's forecasts. EBITDA forecasts for FY25-26 lowered by -28% and -58%, respectively.

Rating downgraded to Neutral from Buy. Target cut to $5.70 from $9.20.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 9.00 cents and EPS of 39.00 cents.
Goldman Sachs forecasts a full year FY26 dividend of 5.00 cents and EPS of 10.00 cents.
Access Extra Coverage Research History >

WHC STOCK CHART

FNArena News on WHC

1
Australian Broker Call *Extra* Edition – Apr 14, 2025

Apr 14 2025 - Daily Market Reports
2
Rudi’s View: Coal, Copper, Car Group & More

Mar 27 2025 - Rudi's View
3
Rudi’s View: Best Buys In Copper, Small Caps, Tech, Healthcare, And More

Mar 20 2025 - Rudi's View
4
New Hope Buyback Counters 2025 Uncertainty

Mar 20 2025 - Commodities
5
Australian Broker Call *Extra* Edition – Feb 26, 2025

Feb 26 2025 - Daily Market Reports

Latest Coal News

1
Rudi’s View: Coal, Copper, Car Group & More

Mar 27 2025 - Rudi's View
2
New Hope Buyback Counters 2025 Uncertainty

Mar 20 2025 - Commodities
3
Whitehaven Coal: Sales Up, Prices Down

Jan 31 2025 - Commodities
4
Coronado Global Counts On Better Times Ahead

Jan 30 2025 - Commodities
5
ESG Focus: Decarbonisation, Renewables & Cyber Crime

Apr 03 2024 - ESG Focus
6
Better Times Ahead for New Hope?

Mar 20 2024 - Australia
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Jul 24 2023 - Australia
8
Capacity Increase Ahead for New Hope

Mar 23 2023 - Australia
9
Stanmore Versus Coronado: Higher Margins Rule

Mar 22 2023 - Commodities
10
Whitehaven Coal: Opportunity Presents

Feb 14 2023 - Technicals