SOUTH32 LIMITED (S32)
Share Price Analysis and Chart

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S32

S32 - SOUTH32 LIMITED

FNArena Sector : Mining
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 1.51
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

South32 is a mining and metals company producing alumina, aluminium, energy and metallurgical coal, manganese, nickel, silver, lead and zinc in Australia, Southern Africa and South America. It was spun out of BHP Billiton in 2015.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$5.22

08 Sep
2026

0.080

OPEN

$5.12

1.56%

HIGH

$5.23

14,021,089

LOW

$5.10

TARGET
$5.34 2.3% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AMN . APC . ARV . AZY . BCI . BML . CNB . COD . DRE . E25 . EM2 . HFR . KSN . LM8 . LNQ . LRV . PMT . QML . RTR . S2R . STK . SVY .
FNARENA'S MARKET CONSENSUS FORECASTS
S32: 1
Title FY27
Forecast		 FY28
Forecast
EPS (cps) 33.1 xxx
DPS (cps) 14.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 16.0 xxx
Dividend Yield 2.6% xxx
Div Pay Ratio(%) 42.2% 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: 3.93%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.43

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: 05/03 - ex-div 5.48c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx35.2
DPS All xxxxxxxxxxxxxxx13.0
Sales/Revenue xxxxxxxxxxxxxxx8,582.9 M
Book Value Per Share xxxxxxxxxxxxxxx312.4
Net Operating Cash Flow xxxxxxxxxxxxxxx2,411.4 M
Net Profit Margin xxxxxxxxxxxxxxx18.24 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx11.39 %
Return on Invested Capital xxxxxxxxxxxxxxx9.94 %
Return on Assets xxxxxxxxxxxxxxx7.48 %
Return on Equity xxxxxxxxxxxxxxx11.39 %
Return on Total Capital xxxxxxxxxxxxxxx6.89 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx1,980.5 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 xxxxxxxxxxxxxxx751 M
Long Term Debt xxxxxxxxxxxxxxx1,921 M
Total Debt xxxxxxxxxxxxxxx2,672 M
Goodwill - Gross xxxxxxxxxxxxxxx201 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx3,080 M
Price To Book Value xxxxxxxxxxxxxxx1.25

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx1,673.5 M
Capex % of Sales xxxxxxxxxxxxxxx19.50 %
Cost of Goods Sold xxxxxxxxxxxxxxx7,047 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx410 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx3,466 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
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Sentiment Indicator

0.5

No. Of Recommendations

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

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

28/08/2026

2

Downgrade to Accumulate from Buy

$5.70

9.20%

Ord Minnett downgrades South32 to Accumulate from Buy with a $5.70 target following share-price strength.

FY26 underlying profit increased 55% to US$1bn and was marginally ahead, supported by stronger base and precious-metal prices, cost control and the restart of Australia Manganese.

Net cash should rise from US$283m to around US$3.5bn following the aluminium asset sale. However, management appears likely to prioritise growth over immediate capital returns, with Hermosa and Sierra Gorda expected to absorb around -US$2.2bn.

The broker remains positive on South32's copper and zinc exposure.

FORECAST
Ord Minnett forecasts a full year FY27 EPS of 34.00 cents.
Ord Minnett forecasts a full year FY28 EPS of 36.00 cents.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

(xx/xx/xxxx)

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

0

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
Access Extra Coverage Research History >

S32 STOCK CHART

FNArena News on S32

1
Rudi’s View: Resources, Healthcare & Best Buys

Sep 03 2026 - Rudi's View
2
Rudi’s View: Resilient, But August Fails To Excite

Sep 02 2026 - Rudi's View
3
Weekly Ratings, Targets, Forecast Changes – 28-08-26

Aug 31 2026 - Weekly Reports
4
FNArena Corporate Results Monitor – 28-08-2026

Aug 28 2026 - Australia
5
Rudi’s View: That’s The Way Markets Crumble

Aug 06 2026 - Rudi's View

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