FORTESCUE LIMITED (FMG)
Share Price Analysis and Chart

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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

$18.02

07 Aug
2026

-0.430

OPEN

$18.37

-2.33%

HIGH

$18.39

8,124,265

LOW

$18.02

TARGET
$18.967 5.3% 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 FY26
Forecast		 FY27
Forecast
EPS (cps) 179.3 xxx
DPS (cps) 98.7 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 10.0 xxx
Dividend Yield 5.5% xxx
Div Pay Ratio(%) 55.0% 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: 5.24%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.11

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: 02/03 - ex-div 82.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx169.4
DPS All xxxxxxxxxxxxxxx110.0
Sales/Revenue xxxxxxxxxxxxxxx23,996.7 M
Book Value Per Share xxxxxxxxxxxxxxx991.8
Net Operating Cash Flow xxxxxxxxxxxxxxx9,942.4 M
Net Profit Margin xxxxxxxxxxxxxxx21.70 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx17.43 %
Return on Invested Capital xxxxxxxxxxxxxxx13.79 %
Return on Assets xxxxxxxxxxxxxxx11.07 %
Return on Equity xxxxxxxxxxxxxxx17.43 %
Return on Total Capital xxxxxxxxxxxxxxx20.83 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx501.8 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx336 M
Long Term Debt xxxxxxxxxxxxxxx7,964 M
Total Debt xxxxxxxxxxxxxxx8,299 M
Goodwill - Gross xxxxxxxxxxxxxxx298 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx6,604 M
Price To Book Value xxxxxxxxxxxxxxx1.54

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx5,038.4 M
Capex % of Sales xxxxxxxxxxxxxxx21.00 %
Cost of Goods Sold xxxxxxxxxxxxxxx14,553 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,519 M
Research & Development xxxxxxxxxxxxxxx851 M
Investments - Total xxxxxxxxxxxxxxx435 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

0.1

No. Of Recommendations

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

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Bell Potter

xx/xx/xxxx

3

xxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

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Macquarie

03/08/2026

1

Outperform

$20.00

10.99%

Fortescue once again delivered an annual record in shipments at costs that had performed well in spite of inflationary pressures. Macquarie notes.

If Fortescue delivers to the upside of its guidance range next year (and to its 205mtpa capacity constraint) it will again deliver another record for a supply chain that was originally rated at 155mtpa.

The impacts of the diesel fuel increase have bitten hard, with decarbonisation benefits not materially lowering diesel consumption until FY28. While Macquarie has deferred the ramp-up profile, it still remains confident Fortescue could be a cost leader now and in the future.

Target falls to $20 from $21, Outperform retained.

FORECAST
Macquarie forecasts a full year FY26 dividend of 121.89 cents and EPS of 184.30 cents.
Macquarie forecasts a full year FY27 dividend of 83.89 cents and EPS of 129.20 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Login above or Get a Free Trial

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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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

18/05/2026

4

Underweight

$16.00

-11.21%

Jarden maintains an Underweight rating for Fortescue with a $16.00 target price following a Federal Court order to pay -$250m in native title compensation.

The award consists of -$150m for cultural loss and -$100k for economic loss at the Solomon Hub, marking the largest court-determined native title payment in Australian history.

The broker notes the ruling establishes a contemporary benchmark for heritage destruction and confirms native title liability rests with the tenement holder instead of the state.

Reported incident metrics are unlikely to act as a reliable proxy for actual outcomes, the broker suggests, as zero incidents were recorded during the period of widespread and intergenerational harm identified by the court.

The report states the precedent exposes miners with legacy operations to increased valuation risk and a pressing need for agreement modernisation.
Access Extra Coverage Research History >

FMG STOCK CHART

FNArena News on FMG

1
Weekly Ratings, Targets, Forecast Changes – 07-08-26

Aug 10 2026 - Weekly Reports
2
Rudi’s View: That’s The Way Markets Crumble

Aug 06 2026 - Rudi's View
3
Rising Costs Hit Fortescue Hard

Aug 05 2026 - Commodities
4
ESG Focus: War Accelerates Energy Transition

Jul 15 2026 - ESG Focus
5
Rudi’s View: July’s Stock Pickers’ Favourites

Jul 09 2026 - Rudi's View

Latest Iron Ore News

1
Rising Costs Hit Fortescue Hard

Aug 05 2026 - Commodities
2
Breakout Opportunity In Mineral Resources

Apr 14 2026 - Technicals
3
Fortescue Shares Finding Technical Support

Nov 18 2025 - Technicals
4
Risk Has Shifted To More Upside For MinRes

Oct 16 2025 - Technicals
5
Mineral Resources Shares Targeting $45

Sep 10 2025 - Technicals
6
Can Champion Iron Deliver On Growth Projects?

Aug 06 2025 - Commodities
7
Execution Remains Key For Mineral Resources

Aug 01 2025 - Commodities
8
Iron Ore Worries Overshadow Fortescue’s FY26

Jul 28 2025 - Australia
9
Bargain Hunters Interest For Champion Iron?

May 08 2025 - Technicals
10
Positive Reversal For Fortescue

May 06 2025 - Technicals