ILUKA RESOURCES LIMITED (ILU)
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ILU

ILU - ILUKA RESOURCES LIMITED

FNArena Sector : Mineral Sands
Year End: December
GICS Industry Group : Materials
Debt/EBITDA: 0.58
Index: ASX200 | ASX300 | ALL-ORDS

Iluka Resources is an Australian mining company specialising in mineral sands exploration and production. It is the world's largest producer of zircon, titanium dioxide, rutile and synthetic rutile. The company has been listed in some form since 1962.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$6.36

26 Aug
2025

-0.020

OPEN

$6.52

-0.31%

HIGH

$6.62

5,238,046

LOW

$6.30

TARGET
$5.82 -8.5% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ADN . IMA . SFX . STA . VHM .
FNARENA'S MARKET CONSENSUS FORECASTS
ILU: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 54.1 31.0 xxx
DPS (cps) xxx 8.0 5.8 xxx
EPS Growth xxx - 32.7% - 42.8% xxx
DPS Growth xxx 14.3% - 28.1% xxx
PE Ratio xxx N/A 20.5 xxx
Dividend Yield xxx N/A 0.9% xxx
Div Pay Ratio(%) xxx 14.8% 18.6% xxx

Dividend yield today if purchased 3 years ago: 0.75%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.26

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: 03/09 - ex-div 4c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx54.1
DPS All xxxxxxxxxxxxxxx8.0
Sales/Revenue xxxxxxxxxxxxxxx1,170.3 M
Book Value Per Share xxxxxxxxxxxxxxx551.7
Net Operating Cash Flow xxxxxxxxxxxxxxx154.1 M
Net Profit Margin xxxxxxxxxxxxxxx19.76 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx10.24 %
Return on Invested Capital xxxxxxxxxxxxxxx9.34 %
Return on Assets xxxxxxxxxxxxxxx6.21 %
Return on Equity xxxxxxxxxxxxxxx10.24 %
Return on Total Capital xxxxxxxxxxxxxxx11.46 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-313.4 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx13 M
Long Term Debt xxxxxxxxxxxxxxx279 M
Total Debt xxxxxxxxxxxxxxx291 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx136 M
Price To Book Value xxxxxxxxxxxxxxx0.92

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx433.9 M
Capex % of Sales xxxxxxxxxxxxxxx37.08 %
Cost of Goods Sold xxxxxxxxxxxxxxx692 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx193 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx454 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

0.2

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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

21/08/2025

3

Neutral, High Risk

$5.30

-16.67%

No major surprises from Iluka Resources' 1H25 result for Citi, though underlying net profit beat its forecast by 10% while coming in line with the consensus.

The company noted average zircon price contracted price to date in Q3 was -US$80/t lower than the June quarter, prompting the broker to cut its FY25 forecast by -1% and FY26 by -3%.

Underlying net profit forecast for FY25 lifted by 3% on lower cost assumption, with lower zircon price estimate impacting FY26 forecast, down -7%.

 Neutral, High Risk. Target unchanged at $5.30.

FORECAST
Citi forecasts a full year FY25 dividend of 6.00 cents and EPS of 41.00 cents.
Citi forecasts a full year FY26 dividend of 7.00 cents and EPS of 30.10 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Login above or Get a Free Trial

Morgan Stanley

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
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

Canaccord Genuity

24/08/2025

1

Buy

$6.80

6.92%

Canaccord Genuity notes Iluka Resources' 1H25 group EBITDA of $233m beat its $210m forecast and consensus of $238m. Net profit beat consensus but missed the broker's forecast.

Net debt rose $115m to $502m but that included $481m Eneabba loan. The FY25 production guidance was unchanged at 495kt.

The company recently announced a binding term sheet for US$20m and offtake agreement with Lindian Resources ((LIN)). After incorporating this, the broker's Ebeabba utilisation increases to 75% following ramp-up in 2027.

The Kangankunde project construction is underway with first production targeted for December quarter. FY27-30 EBITDA forecasts lifted by an average 10% on higher Eneabba production. 

Buy. Target rises to $6.80 from $5.85.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 6.00 cents and EPS of 29.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 8.00 cents and EPS of 32.00 cents.
Access Extra Coverage Research History >

ILU STOCK CHART

FNArena News on ILU

1
Australian Broker Call *Extra* Edition – Aug 25, 2025

Aug 25 2025 - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 22-08-25

Aug 25 2025 - Weekly Reports
3
FNArena Corporate Results Monitor – 21-08-2025

Aug 21 2025 - Australia
4
Australian Broker Call *Extra* Edition – Aug 18, 2025 (Extra)

Aug 18 2025 - Daily Market Reports
5
Rudi’s View: BlueScope Steel, IGO, GrainCorp, Pilbara Minerals, Santos & More

Aug 14 2025 - Rudi's View

Latest Mineral Sands News

1
Iluka: Rare Earths Upside Emerging

Jul 28 2025 - Commodities
2
Iluka Resources Perking Up

Jul 15 2025 - Technicals
3
Heightened Prospects For Iluka Resources

Apr 26 2021 - Australia
4
Brokers Tick Iluka’s Review But Doubt Outlook

Nov 06 2019 - Australia
5
Strong Outlook For Iluka Despite Soft Start

Apr 17 2019 - Australia
6
Iluka Enjoying Strong Pricing Trend In 2018

Jul 25 2018 - Australia
7
2018 Looks Bright For Iluka Resources

Jan 30 2018 - Australia
8
Iluka Beats All Forecasts

Jul 25 2017 - Australia
9
Weekly Ratings, Targets, Forecast Changes

Jan 23 2017 - Weekly Reports
10
Iluka Raises Rutile Profile, But Will It Pay?

Dec 14 2016 - Australia