FORTESCUE LIMITED (FMG)
Share Price Analysis and Chart

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FMG - FORTESCUE LIMITED

FNArena Sector : Iron Ore
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0.5
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

$17.85

19 Dec
2024

-0.720

OPEN

$18.09

-3.88%

HIGH

$18.25

9,296,687

LOW

$17.63

TARGET
$18.61 4.3% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ARI . BCI . CIA . DRR . FEX . GEN . GRR . MGX . MIN . RHK .
FNARENA'S MARKET CONSENSUS FORECASTS
FMG: 1
Title FY25
Forecast		 FY26
Forecast
EPS (cps) 188.6 xxx
DPS (cps) 100.1 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 9.7 xxx
Dividend Yield 5.5% xxx
Div Pay Ratio(%) 53.1% 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: 10.12%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 10.82

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 89c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx282.0
DPS All xxxxxxxxxxxxxxx197.0
Sales/Revenue xxxxxxxxxxxxxxx27,804.6 M
Book Value Per Share xxxxxxxxxxxxxxx951.8
Net Operating Cash Flow xxxxxxxxxxxxxxx12,026.8 M
Net Profit Margin xxxxxxxxxxxxxxx31.19 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx30.81 %
Return on Invested Capital xxxxxxxxxxxxxxx24.14 %
Return on Assets xxxxxxxxxxxxxxx19.31 %
Return on Equity xxxxxxxxxxxxxxx30.81 %
Return on Total Capital xxxxxxxxxxxxxxx35.83 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx1,384.1 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 xxxxxxxxxxxxxxx287 M
Long Term Debt xxxxxxxxxxxxxxx7,798 M
Total Debt xxxxxxxxxxxxxxx8,086 M
Goodwill - Gross xxxxxxxxxxxxxxx292 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx7,341 M
Price To Book Value xxxxxxxxxxxxxxx2.25

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx4,324.8 M
Capex % of Sales xxxxxxxxxxxxxxx15.55 %
Cost of Goods Sold xxxxxxxxxxxxxxx13,452 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,390 M
Research & Development xxxxxxxxxxxxxxx755 M
Investments - Total xxxxxxxxxxxxxxx545 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

-0.2

No. Of Recommendations

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

12/12/2024

3

Neutral

$21.00

17.65%

Citi raises target prices across its coverage of the A&NZ Metals and Mining sector, driven by weaker Australian dollar forecasts.

Earnings forecasts for base metal stocks are lowered due to base metals price revisions, despite currency tailwinds, while coal and iron ore pure plays have seen earnings benefit from the currency changes, according to the analysts.

The broker sees the greatest 12-month upside in uranium and NdPr and the greatest downside in alumina and Brent oil from current prices. Citi remains neutral on bulk pricing due to likely demand softness.

The target for Fortescue rises to $21 from $19.40. Neutral.

FORECAST
Citi forecasts a full year FY25 dividend of 81.30 cents and EPS of 160.22 cents.
Citi forecasts a full year FY26 dividend of 98.25 cents and EPS of 134.52 cents.

Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

$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

5

xxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Jarden

16/10/2024

4

Underweight

$16.81

-5.83%

Jarden observes the powerhouse of earnings for Fortescue, the direct shipping of ore from Pilbara is now experiencing a decline in reserves.

The broker points to a fall of -116mt in the year ending June 30, which accumulates to a decline in reserves annually of -24% since 2018.

The decline is not a concern in isolation, but the division does generate cash for development of the energy division.

Target price $16.81 with an Underweight rating remaining.

FORECAST
Jarden forecasts a full year FY25 EPS of 194.68 cents.
Jarden forecasts a full year FY26 EPS of 103.99 cents.
Access Extra Coverage Research History >

FMG STOCK CHART

FNArena News on FMG

1
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2
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Dec 10 2024 - Commodities
3
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Dec 05 2024 - Commodities
4
Material Matters: Global LNG, Aussie Gas & Iron

Nov 11 2024 - Commodities
5
Fortescue Looks Poised

Nov 05 2024 - Technicals

Latest Iron Ore News

1
Fortescue Looks Poised

Nov 05 2024 - Technicals
2
Quality Ore Elevates A Champion

Oct 10 2024 - ESG Focus
3
The Downs And Ups Of Mineral Resources

Sep 19 2024 - Commodities
4
Fortescue Shares Oversold

Jul 09 2024 - Technicals
5
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Jun 27 2024 - Rudi's View
6
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Jun 18 2024 - Small Caps
7
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May 15 2024 - ESG Focus
8
Fortescue: Ready To Rally

Mar 26 2024 - Technicals
9
ESG Focus: Grid Set To Enter An Iron Age

Sep 21 2023 - ESG Focus
10
Mineral Resources: Downturn Complete

Jul 04 2023 - Technicals