FORTESCUE LIMITED (FMG)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

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

$21.28

03 Feb
2026

0.100

OPEN

$21.37

0.47%

HIGH

$21.42

5,572,885

LOW

$21.10

TARGET
$20.357 -4.3% 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) 176.5 xxx
DPS (cps) 116.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 12.3 xxx
Dividend Yield 5.4% xxx
Div Pay Ratio(%) 65.7% 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: 5.01%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.08

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: 26/02 - ex-div 50c (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

-0.3

No. Of Recommendations

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

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

Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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

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

Macquarie

23/01/2026

5

Underperform

$21.00

-1.32%

Fortescue's December quarter (2Q26) report was largely in line on production, shipments and prices, Macquarie observes. Costs, however, were higher than consensus by 6%, driven by higher-cost stockpiles, fuel and FX.

FY26 shipment guidance of 195-205Mt was unchanged. Net debt rose to US$1bn, higher than consensus by US$0.1bn despite capex running -US$0.2bn below consensus, implying a working capital build during the quarter, the broker notes.

Rising net debt and cooling iron ore sentiment from new Simandou supply highlight downside risk, given the company's strong iron ore leverage, the broker cautions.

Underperform. Target unchanged at $21.

FORECAST
Macquarie forecasts a full year FY26 dividend of 110.77 cents and EPS of 184.62 cents.
Macquarie forecasts a full year FY27 dividend of 75.39 cents and EPS of 125.54 cents.

UBS

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

Morgans

xx/xx/xxxx

4

xxxx

$xx.xx

xx.xx%

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

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
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

22/01/2026

4

Underweight

$17.15

-19.41%

Fortescue announced Hematite shipments of 48.3Mt which were in line with Jarden's forecast, contributing to record 1H shipments of 100.2Mt.

C1 costs of US$19.10/wmt missed expectations due to inventory timing, higher diesel prices and AUD headwinds.

Iron Bridge shipments of 2.2Mt fell short, but a record December month following mill optimisation gives the broker some confidence the low end of FY26 guidance can still be met.

The balance sheet strengthened following a US$750m debt buyback, reducing net debt to US$1.0bn and supporting dividends, although Jarden trims its FY26 DPS forecast to $1.15.

Underweight. Target lifts to $17.15 from $17.

FORECAST
Jarden forecasts a full year FY26 dividend of 115.00 cents and EPS of 191.85 cents.
Jarden forecasts a full year FY27 dividend of 113.85 cents and EPS of 128.15 cents.
Access Extra Coverage Research History >

FMG STOCK CHART

FNArena News on FMG

Latest Iron Ore News

1
Iron Ore Miners: Buy The Dips

Apr 29 2022 - Technicals
2
Iron Ore Miners: Broker Views

Dec 07 2021 - Australia
3
Fortescue Metals Fields The Green Narrative

Aug 31 2021 - Australia
4
All Over For Iron Ore?

Aug 12 2021 - Commodities
5
Fortescue: Break Out

Jul 13 2021 - Technicals
6
Iron Ore: Remain Bullish

Jun 17 2021 - Technicals
7
Iron Bridge Costs Up But Fortescue Is Forgiven

May 31 2021 - Australia
8
Iron Ore: Remain Bullish

May 12 2021 - Technicals
9
China In Africa: Implications For Australia

Apr 23 2021 - International
10
Fortescue: Recovery Underway?

Mar 30 2021 - Technicals