FORTESCUE LIMITED (FMG)
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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

$19.30

29 Aug
2025

-0.040

OPEN

$19.44

-0.21%

HIGH

$19.63

8,846,416

LOW

$19.30

TARGET
$17.921 -7.1% downside
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) 143.0 xxx
DPS (cps) 91.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 13.5 xxx
Dividend Yield 4.7% xxx
Div Pay Ratio(%) 63.6% 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: 5.80%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.70

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 © 2025 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

-0.3

No. Of Recommendations

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

Morgans

xx/xx/xxxx

4

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$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

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xx.xx%

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UBS

27/08/2025

5

Sell

$17.90

-7.25%

Fortescue's final dividend of 60c was in line with market expectations to bring the full-year payout to a sector-leading 65%, UBS notes. Underlying earnings were stronger than expected, but earnings were a slight miss on consensus variance on net finance costs.

FY26 guidance is unchanged from the June quarter update. On UBS' modelling, Fortescue's current share price implies US$90/t real 62% iron ore.

Sell retained, target rises to $17.90 from $17.40.

FORECAST
UBS forecasts a full year FY26 dividend of 142.55 cents and EPS of 153.39 cents.
UBS forecasts a full year FY27 dividend of 96.06 cents and EPS of 134.80 cents.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxx xx xxxxxxxxxx xxxx xxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

5

xxxxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

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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

30/07/2025

3

Neutral

$16.25

-15.80%

The highlight of Fortescue's June quarterly, Jarden observes, was record FY25 shipments at the upper end of guidance and first cost decline in five years. Another impressive element was FY26 guidance for flat y/y cost, reflecting focus on operational efficiencies.

Cash balance at the end of June was well higher than expectations, and the broker expects elevated iron ore price to support continued cash generation. The company announced Arizona Hydrogen and Gladstone project won't proceed, helping savings on capex.

Neutral. Target price $16.25.

FORECAST
Jarden forecasts a full year FY26 dividend of 85.00 cents and EPS of 144.72 cents.
Access Extra Coverage Research History >

FMG STOCK CHART

FNArena News on FMG

1
FNArena Corporate Results Monitor – 27-08-2025

Aug 27 2025 - Australia
2
July In Review: Rotation Into A New All-Time High

Aug 06 2025 - Australia
3
Weekly Ratings, Targets, Forecast Changes – 01-08-25

Aug 04 2025 - Weekly Reports
4
Australian Broker Call *Extra* Edition – Jul 30, 2025

Jul 30 2025 - Daily Market Reports
5
Rudi’s View: Taking Stock Ahead Of August

Jul 30 2025 - Rudi's View

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