FORTESCUE LIMITED (FMG)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

FMG

FMG - FORTESCUE LIMITED

FNArena Sector : Iron Ore
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0.7
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Fortescue Metals is an Australian iron ore company with operations in the Pilbara, Western Australia. It is the fourth largest iron ore producer in the world and became a listed company, through a backdoor-listing, in 2003.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$15.02

15 Oct
2026

-0.300

OPEN

$15.22

-1.96%

HIGH

$15.25

10,109,701

LOW

$15.01

TARGET
$16.775 11.7% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ARI . CIA . DRR . FEX . GEN . GRR . MGX . MIN .
FNARENA'S MARKET CONSENSUS FORECASTS
FMG: 1
Title FY27
Forecast		 FY28
Forecast
EPS (cps) 88.7 xxx
DPS (cps) 55.8 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 17.1 xxx
Dividend Yield 3.7% xxx
Div Pay Ratio(%) 62.9% 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: 4.93%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 7.11

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: 01/09 - ex-div 46.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx137.7
DPS All xxxxxxxxxxxxxxx108.0
Sales/Revenue xxxxxxxxxxxxxxx25,037.5 M
Book Value Per Share xxxxxxxxxxxxxxx952.0
Net Operating Cash Flow xxxxxxxxxxxxxxx10,024.7 M
Net Profit Margin xxxxxxxxxxxxxxx16.92 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx14.17 %
Return on Invested Capital xxxxxxxxxxxxxxx11.19 %
Return on Assets xxxxxxxxxxxxxxx8.93 %
Return on Equity xxxxxxxxxxxxxxx14.17 %
Return on Total Capital xxxxxxxxxxxxxxx20.62 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx1,489.0 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx603 M
Long Term Debt xxxxxxxxxxxxxxx7,958 M
Total Debt xxxxxxxxxxxxxxx8,561 M
Goodwill - Gross xxxxxxxxxxxxxxx281 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx7,324 M
Price To Book Value xxxxxxxxxxxxxxx2.01

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx4,803.6 M
Capex % of Sales xxxxxxxxxxxxxxx19.19 %
Cost of Goods Sold xxxxxxxxxxxxxxx15,715 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,431 M
Research & Development xxxxxxxxxxxxxxx577 M
Investments - Total xxxxxxxxxxxxxxx283 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

0.0

No. Of Recommendations

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

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Bell Potter

09/10/2026

3

Hold

$15.80

5.19%

Following Fortescue's weaker September-quarter sales and softer price realisations, Bell Potter cuts its target to $15.80 from $17.10 and retains a Hold rating.

Shipments fell -6% year-on-year to 46.8Mt, while sales of 42.9Mt were -3.9Mt lower than shipments. The analysts explain this was due to ongoing negotiations with China's centralised ore buying agency, China Mineral Resources Group (CMRG).

The dispute is mainly about pricing and contract structure. CMRG has been pressing miners to move away from traditional benchmark pricing and accept more China-linked indices and portside pricing.

Price realisations fell to 82% of benchmark, down from 84%, 89% and 90% in the preceding three quarters. Net debt rose to US$2.8bn as cash declined. While FY27 guidance is unchanged, it is now subject to the CMRG negotiations.

Bell Potter had previously highlighted risks to price realisations and has now increased its allowance for weaker pricing over a longer period of its forecasts. Resolution by FY27-end is expected.

FORECAST
Bell Potter forecasts a full year FY27 dividend of 63.00 cents and EPS of 71.99 cents.
Bell Potter forecasts a full year FY28 dividend of 61.00 cents and EPS of 96.47 cents.

Morgans

xx/xx/xxxx

4

xxxxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
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

Jarden

24/08/2026

4

Underweight

$15.40

2.53%

Jarden maintains its Underweight recommendation for Fortescue with its target price reduced to $15.40 from $15.60 following a weak FY26 result featuring reported net profit after tax of US$2.9bn, landing -20% below consensus on -US$1.3bn of pre-tax impairments and one-offs.

Underlying net profit after tax of US$3.5bn also missed expectations due to higher corporate costs and tax, while the FY26 dividend per share of $1.08 landed -4% below consensus at a 65% payout ratio.

Reservations regarding the Green Grid remain unchanged, with the analyst understanding the core decarbonisation case but seeing no commercial framework for the incremental opportunity amid a -$680m 200MW expansion targeting third parties with no disclosed customers, return hurdles, or timing.

The overall investment thesis remains unchanged based on a backwardated price deck and Simandou supply meeting ex-growth steel demand, amplified by the introduction of 55% iron products.

The broker's estimates reflect these ongoing pressures, Underweight.
Access Extra Coverage Research History >

FMG STOCK CHART

FNArena News on FMG

1
Fortescue Confronts A New Pricing Reality

Oct 14 2026 - Commodities
2
Weekly Ratings, Targets, Forecast Changes – 09-10-26

Oct 12 2026 - Weekly Reports
3
Rudi’s View: Australia Remains Outside The AI Party

Sep 09 2026 - Rudi's View
4
August 2026 Results – The Wrap

Sep 08 2026 - Feature Stories
5
Rudi’s View: Resources, Healthcare & Best Buys

Sep 03 2026 - Rudi's View

Latest Iron Ore News

1
Selling Pressure Dominates MinRes Shares

Oct 14 2026 - Technicals
2
Rising Costs Hit Fortescue Hard

Aug 05 2026 - Commodities
3
Breakout Opportunity In Mineral Resources

Apr 14 2026 - Technicals
4
Fortescue Shares Finding Technical Support

Nov 18 2025 - Technicals
5
Risk Has Shifted To More Upside For MinRes

Oct 16 2025 - Technicals
6
Mineral Resources Shares Targeting $45

Sep 10 2025 - Technicals
7
Can Champion Iron Deliver On Growth Projects?

Aug 06 2025 - Commodities
8
Execution Remains Key For Mineral Resources

Aug 01 2025 - Commodities
9
Iron Ore Worries Overshadow Fortescue’s FY26

Jul 28 2025 - Australia
10
Bargain Hunters Interest For Champion Iron?

May 08 2025 - Technicals