SOUTH32 LIMITED (S32)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

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

$4.51

19 Oct
2026

-0.120

OPEN

$4.62

-2.59%

HIGH

$4.66

15,385,772

LOW

$4.45

TARGET
$5.34 18.4% 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) 35.8 xxx
DPS (cps) 17.8 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 12.3 xxx
Dividend Yield 4.0% xxx
Div Pay Ratio(%) 49.7% 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: 3.95%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.02

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: 17/09 - ex-div 7.52c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx35.2
DPS All xxxxxxxxxxxxxxx13.1
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
Display All Commentary

Sentiment Indicator

0.3

No. Of Recommendations

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

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxxxxxx xx xxxxx-xxxxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

29/09/2026

2

Accumulate

$5.50

21.95%

Ord Minnett makes mostly minor changes to commodity price forecasts following a September quarter characterised by stronger energy, coal, precious and most base metal prices, while lithium fell -20%.

The broker remains positive on lithium longer term, lifting CY27 and CY28 price forecasts by 2% and 5%, respectively, supported by electric vehicles, energy storage and renewables demand.

Copper's recent rally is considered vulnerable to reversal, prompting a -6% CY27 price forecast cut, though longer-term fundamentals remain supportive. Aluminium price forecasts are also lowered.

Ord Minnett currently sees more attractive risk-reward across bulk commodities than base metals, particularly iron ore.

Among the major miners, the broker continues to prefer Buy-rated Rio Tinto over Hold-rated BHP Group, citing Rio Tinto's stronger production and earnings growth outlook and lower earnings multiple.

The Accumulate rating is kept for South32 and the target lowered by -20c to $5.50.

This is a summary of research released by Ord Minnett yesterday.

Morgans

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxxxxxxxxx

$xx.xx

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
Weekly Ratings, Targets, Forecast Changes – 16-10-26

Oct 19 2026 - Weekly Reports
2
Rudi’s View: Stocks To Own & Best To Avoid

Oct 15 2026 - Rudi's View
3
Weakness In South32 A Buying Opportunity

Sep 29 2026 - Technicals
4
Rudi’s View: Ampol, BlueScope, Evolution, Infratil, Ramelius & More

Sep 24 2026 - Rudi's View
5
Rudi’s View: Resources, Healthcare & Best Buys

Sep 03 2026 - Rudi's View

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