SIMS LIMITED (SGM)
Share Price Analysis and Chart

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SGM - SIMS LIMITED

FNArena Sector : Steel & Scrap

Year End: June

GICS Industry Group : Materials

Debt/EBITDA: 42.86

Index: ASX200 | ASX300 | ALL-ORDS

Sims Ltd is an Australian metals, waste and electronics recycling company operating in over fifteen countries worldwide. The company was established in 1917 and its current listing was in 2005 after restructuring.

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$15.45 25 Mar 2025	0.000 OPEN $15.75	0.000 HIGH $15.75	294,645 LOW $15.43

TARGET

$13.92

-9.9% downside

Franking for last dividend paid out: 100%

OTHER COMPANIES IN THE SAME SECTOR
BSL . VSL .

FNARENA'S MARKET CONSENSUS FORECASTS

Title	FY23 Actual	FY24 Actual	FY25 Forecast	FY26 Forecast
EPS (cps)	xxx	- 29.9	46.1	xxx
DPS (cps)	xxx	10.0	21.8	xxx
EPS Growth	xxx	N/A	N/A	xxx
DPS Growth	xxx	- 71.4%	100.0%	xxx
PE Ratio	xxx	N/A	32.9	xxx
Dividend Yield	xxx	N/A	1.4%	xxx
Div Pay Ratio(%)	xxx	N/A	47.2%	xxx

Dividend yield today if purchased 3 years ago: 0.47%

DIVIDEND YIELD CALCULATOR

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: 01/10 - ex-div 10c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2025 FactSet UK Limited. All rights reserved

Title	2019	2020	2021	2022	2023	2024
EPS Basic	xxx	xxx	xxx	xxx	xxx	-29.9
DPS All	xxx	xxx	xxx	xxx	xxx	10.0
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	7,195.4 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	1,328.1
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	202.5 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	0.03 %

EPS Basic

Negative
Growth
Slowing

DPS All

Negative
Growth
Slowing

Sales/Revenue

Negative
Growth
Slowing

Book Value Per Share

Negative
Growth
Slowing

Net Operating Cash Flow

Negative
Growth
Slowing

Net Profit Margin

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	0.07 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	0.05 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	0.04 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	0.07 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	-6.27 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	-52.4 M

Return on Capital Employed

Negative
Growth
Slowing

Return on Invested Capital

Negative
Growth
Slowing

Return on Assets

Negative
Growth
Slowing

Return on Equity

Negative
Growth
Slowing

Return on Total Capital

Negative
Growth
Slowing

Free Cash Flow ex dividends

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	74 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	711 M
Total Debt	xxx	xxx	xxx	xxx	xxx	784 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	1,665 M
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	114 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	0.78

Short-Term Debt

Negative
Growth
Slowing

Long Term Debt

Negative
Growth
Slowing

Total Debt

Negative
Growth
Slowing

Goodwill - Gross

Negative
Growth
Slowing

Cash & Equivalents - Generic

Negative
Growth
Slowing

Price To Book Value

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Capex	xxx	xxx	xxx	xxx	xxx	214.6 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	2.98 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	6,160 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	1,248 M
Research & Development	xxx	xxx	xxx	xxx	xxx	-
Investments - Total	xxx	xxx	xxx	xxx	xxx	585 M

Capex

Negative
Growth
Slowing

Capex % of Sales

Negative
Growth
Slowing

Cost of Goods Sold

Negative
Growth
Slowing

Selling, General & Admin. Exp & Other

Negative
Growth
Slowing

Research & Development

Investments - Total

Negative
Growth
Slowing

Negative

Growth

Slowing

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Sentiment Indicator

0.1

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Citi	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
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
UBS	26/02/2025	3	Neutral	$14.50	-6.15%	UBS highlights Sims' 1H25 earnings beat, driven by stronger North America Metals margins despite a slight volume decline. The broker notes the business is prioritising unprocessed scrap over dealer scrap, supporting profitability. The broker notes tariff risks remain uncertain, with potential US steel and aluminium tariffs from March, but scrap is not yet included. Cost-cutting of -$77m since FY24 is nearly complete, with -$35m remaining in 2H25. UBS expects 2H25 EBIT to require a strong 4Q, given a weak January and February. The $72m EBIT needed in 4Q aligns with past upswings but carries risk. The broker raises the price target to $14.50 from $13.60. Neutral rating retained. FORECAST UBS forecasts a full year FY25 dividend of 16.00 cents and EPS of 49.00 cents. UBS forecasts a full year FY26 dividend of 30.00 cents and EPS of 84.00 cents.
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

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EXTRA COVERAGE

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No. Of Recommendations

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	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
Goldman Sachs	04/03/2025	3	Neutral	$14.80	-4.21%	Sims's reported 1H25 underlying earnings (EBITDA) of $202m was in line with Goldman Sachs' expectations. Scrap trading margins improved 3% year-on-year, offsetting a -4% decline in sales volumes. Management offered no 2H25 guidance, but Sims expects a similar supply-demand balance. Inflationary costs have stabilised, though labour expenses increased to 40% of total costs. Portfolio optimisation continues, with potential divestments, including the high-growth Sims Lifecycle Services business. The broker lowers FY25-27 earnings (EBITDA) forecasts by -10%/-11%/-6%, reducing the 12-month target price to $14.80 from $15.50. Neutral. FORECAST Goldman Sachs forecasts a full year FY25 EPS of 76.00 cents. Goldman Sachs forecasts a full year FY26 EPS of 148.00 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Jarden

xx/xx/xxxx

xxxxxxx

$xx.xx

xx.xx%

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

Goldman Sachs

04/03/2025

Neutral

$14.80

-4.21%

Sims's reported 1H25 underlying earnings (EBITDA) of $202m was in line with Goldman Sachs' expectations. Scrap trading margins improved 3% year-on-year, offsetting a -4% decline in sales volumes.

Management offered no 2H25 guidance, but Sims expects a similar supply-demand balance.

Inflationary costs have stabilised, though labour expenses increased to 40% of total costs. Portfolio optimisation continues, with potential divestments, including the high-growth Sims Lifecycle Services business.

The broker lowers FY25-27 earnings (EBITDA) forecasts by -10%/-11%/-6%, reducing the 12-month target price to $14.80 from $15.50. Neutral.

FORECAST
Goldman Sachs forecasts a full year FY25 EPS of 76.00 cents.
Goldman Sachs forecasts a full year FY26 EPS of 148.00 cents.

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SGM STOCK CHART

FNArena News on SGM

1	Sims Has Further Room To Run Mar 25 2025 - Technicals

2	ESG Focus: Fund Flows, Tariffs, Defence & AI Mar 20 2025 - ESG Focus

3	Australian Broker Call Extra Edition – Mar 05, 2025 Mar 05 2025 - Daily Market Reports

4	Australian Broker Call Extra Edition – Mar 04, 2025 Mar 04 2025 - Daily Market Reports

5	FNArena Corporate Results Monitor – 26-02-2025 Feb 26 2025 - Australia

Latest Steel & Scrap News

1	Sims Has Further Room To Run Mar 25 2025 - Technicals

2	Treasure Chest: Sims May 31 2024 - Treasure Chest

3	ESG Focus: The Little Big Things – 23-11-2023 Nov 23 2023 - ESG Focus

4	Short Term Pain Continues For Sims Sep 14 2023 - Australia

5	ESG Focus: Green Steel Innovation On Fire Jun 22 2023 - ESG Focus

6	ESG Focus: Green Steel Rolling In Jun 15 2023 - ESG Focus

7	BlueScope Steel Undervalued? Nov 21 2022 - Australia

8	BlueScope Steel Committed To Emissions Targets Sep 28 2022 - ESG Focus

9	BlueScope Steel Transforms US Operations Apr 13 2022 - Australia

10	Sims Shines In The Scrap Yard Feb 16 2022 - Australia

Dividend Yield Today On Last Actual Payout :	0.66
Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
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SIMS LIMITED (SGM)
Share Price Analysis and Chart