BHP GROUP LIMITED (BHP)
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BHP

BHP - BHP GROUP LIMITED

FNArena Sector : Bulks
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0.72
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

BHP Group is an Anglo-Australian multinational bulks, metals and (soon to be) potash producer. BHP is Australia's largest company by market cap, representing circa 11% of the ASX200. As the Broken Hill Proprietary Co it was first listed in August 1885.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$39.04

25 Mar
2025

-0.280

OPEN

$39.21

-0.71%

HIGH

$39.38

6,169,860

LOW

$38.97

TARGET
$44.933 15.1% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
RIO .
FNARENA'S MARKET CONSENSUS FORECASTS
BHP: 1
Title FY25
Forecast		 FY26
Forecast
EPS (cps) 332.7 xxx
DPS (cps) 157.1 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 11.9 xxx
Dividend Yield 4.0% xxx
Div Pay Ratio(%) 47.2% xxx
This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 4.65%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.93

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: 12/09 - ex-div 109.21c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic 238.0234.7299.7619.6379.3237.8
DPS All 333.1174.9402.7987.1261.4220.6
Sales/Revenue 61,928.0 M64,040.5 M81,530.2 M89,766.7 M80,007.7 M84,936.7 M
Book Value Per Share 1,331.21,376.61,350.31,291.71,319.91,323.3
Net Operating Cash Flow 24,989.1 M23,428.7 M36,509.4 M44,366.2 M27,802.1 M31,535.8 M
Net Profit Margin 19.53 %18.53 %18.59 %31.10 %24.01 %14.19 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed 16.96 %17.33 %21.98 %41.77 %29.06 %17.99 %
Return on Invested Capital 11.62 %11.75 %15.59 %31.33 %21.94 %13.05 %
Return on Assets 8.19 %8.02 %10.20 %19.70 %13.22 %7.89 %
Return on Equity 16.96 %17.33 %21.98 %41.77 %29.06 %17.99 %
Return on Total Capital 19.88 %21.20 %40.52 %46.27 %32.59 %33.33 %
Free Cash Flow ex dividends 316.0 M2,879.0 M17,061.6 M11,676.9 M-1,932.7 M6,369.7 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 2,367 M7,280 M3,500 M3,813 M10,776 M3,120 M
Long Term Debt 33,013 M32,006 M24,449 M20,077 M22,793 M27,901 M
Total Debt 35,380 M39,285 M27,949 M23,890 M33,569 M31,022 M
Goodwill - Gross 352 M359 M1,594 M1,741 M2,087 M2,083 M
Cash & Equivalents - Generic 22,270 M19,553 M20,312 M25,506 M18,714 M19,105 M
Price To Book Value 3.092.603.603.193.413.23

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex 9,960.1 M11,396.6 M9,544.9 M8,426.7 M10,530.0 M14,151.0 M
Capex % of Sales 16.08 %17.80 %11.71 %9.39 %13.16 %16.66 %
Cost of Goods Sold 33,446 M33,568 M34,961 M35,006 M38,879 M41,080 M
Selling, General & Admin. Exp & Other 5,862 M6,681 M2,570 M9,227 M8,333 M8,691 M
Research & Development ------
Investments - Total 5,518 M7,418 M4,465 M3,231 M4,109 M4,329 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

0.8

No. Of Recommendations

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

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgans

19/02/2025

1

Add

$48.10

23.21%

First half results from BHP Group were largely in line with expectations. Morgans has some concerns regarding the company's ability to pursue US$20-30bn in new copper growth projects globally.

The main issue is whether such growth can be supported as well as an above-market dividend yield, along with potential acquisitions, such as Anglo American.

The broker considers it a "better than average probability" a fresh approach will be made for Anglo American.

Add rating maintained. Target is reduced to $48.10 from $49.70.

FORECAST
Morgans forecasts a full year FY25 dividend of 154.74 cents and EPS of 425.92 cents.
Morgans forecasts a full year FY26 dividend of 168.53 cents and EPS of 335.53 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

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

13/03/2025

1

Buy

$47.30

21.16%

Goldman Sachs conducted a deep analysis of BHP Group and Rio Tinto's ((RIO)) project pipelines, given both miners are back in investment mode. The broker estimates -US$50-60bn capex spending by each company excluding maintenance capex.

The broker estimates all growth capex for Rio would increase to -US$12-13bn per annum which is the same for BHP.

The broker notes Rio trades at a free cash flow yield of 7-8% until the medium-term vs 4% for BHP, with iron ore and copper divisions the biggest contributors.

From 2030 onwards, the broker expects BHP's free cash flow to begin accelerating as key copper projects come into production.

The broker prefers Rio over BHP but notes BHP will partly maintain its premium due to ongoing superior margins and operating performance, particularly in Pilbara iron ore.

The analyst made minor changes to earnings estimates. Target price declines marginally to $47.3 from $47.4. Buy maintained.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 156.27 cents and EPS of 311.02 cents.
Goldman Sachs forecasts a full year FY26 dividend of 171.59 cents and EPS of 344.72 cents.
Access Extra Coverage Research History >

BHP STOCK CHART

FNArena News on BHP

1
Rudi’s View: Best Buys In Copper, Small Caps, Tech, Healthcare, And More

Mar 20 2025 - Rudi's View
2
ESG Focus: Fund Flows, Tariffs, Defence & AI

Mar 20 2025 - ESG Focus
3
Next Week At A Glance – 17-21 Mar 2025

Mar 14 2025 - Weekly Reports
4
Rudi’s View: Post February Conviction Calls

Mar 13 2025 - Rudi's View
5
Australian Broker Call *Extra* Edition – Mar 13, 2025

Mar 13 2025 - Daily Market Reports

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10
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