South32 Ltd S32

Morningstar Rating
A$4.96 +0.05 (1.02%)
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Company Report

Price vs Fair Value

S32 is trading at a LOCK|FNx%>yP premium.
Price
A$4.91
Fair Value
LOCK|ZP
Uncertainty
LOCK|sT#
1-Star Price
LOCK|^$G
5-Star Price
LOCK|?Pq
Economic Moat
LOCK|&c
Capital Allocation
LOCK|R&>wn$s

Bulls Say, Bears Say

Bulls

South32 is a beneficiary of continued global population growth, urbanization, and increased demand for commodities from industrialization.

Bears

The desire to diversify earnings into base metals and the need to eventually replace depletion presents a longer-term risk for missteps, with a major acquisition the key risk to the balance sheet.

News

Trading Information

Previous Close Price
A$4.91
Day Range
A$4.89–5.00
52-Week Range
A$2.77–5.33
Bid/Ask
A$4.96 / A$4.97
Shares Outstanding
4.48B
Market Cap
A$22.23B
Volume/Avg
6M / 18M

Key Statistics

Price/Earnings (Normalized)
13.85
Price/Sales
2.58
Dividend Yield (Trailing)
2.66%
Dividend Yield (Forward)
2.66%
Dividend Payment Schedule
Apr, Oct
Total Yield
2.90%

Company Profile

South32 was born of the demerger of noncore assets from BHP in 2015. Its major operations include alumina businesses in Australia and Brazil, aluminum in Brazil, South Africa, and Mozambique, and manganese businesses in Australia and South Africa. It sold New South Wales metallurgical coal in August 2024 and the Cerro Matoso nickel mine in Colombia in December 2025. It also owns the Cannington silver/lead/zinc mine in Queensland. Its Australian manganese operations deliver high returns, but have a relatively short reserve life. The company acquired Arizona Mining, which brings with it the high-grade and likely low-cost Taylor project in the US, and also entered the copper business in 2022 via the purchase of a 45% stake in the Sierra Gorda mine in Chile.
Sector
Basic Materials
Industry
Other Industrial Metals & Mining
Stock Style Box
Large Core
Total Number of Employees
6,867

Competitors

Valuation

Metric
S32
BHP
RIO
Price/Earnings (Normalized)
13.8516.3114.01
Price/Book Value
1.574.372.78
Price/Sales
2.583.672.93
Price/Cash Flow
9.659.198.78
Price/Earnings
S32
BHP
RIO

Financial Strength

Metric
S32
BHP
RIO
Quick Ratio
1.881.440.93
Current Ratio
2.441.881.42
Interest Coverage
6.2611.3610.65
Quick Ratio
S32
BHP
RIO

Profitability

Metric
S32
BHP
RIO
Return on Assets (Normalized)
7.32%11.44%10.13%
Return on Equity (Normalized)
11.12%27.20%20.84%
Return on Invested Capital (Normalized)
9.03%17.58%15.78%
Return on Assets
S32
BHP
RIO

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