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

$5.17

03 Feb
2026

0.110

OPEN

$5.21

2.17%

HIGH

$5.27

4,971,959

LOW

$5.09

TARGET
$5.756 11.3% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ADN . IMA . SFX . VHM .
FNARENA'S MARKET CONSENSUS FORECASTS
ILU: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 54.1 5.7 xxx
DPS (cps) xxx 8.0 5.6 xxx
EPS Growth xxx - 32.7% - 89.4% xxx
DPS Growth xxx 14.3% - 30.6% xxx
PE Ratio xxx N/A 91.1 xxx
Dividend Yield xxx N/A 1.1% xxx
Div Pay Ratio(%) xxx 14.8% 96.7% xxx

Dividend yield today if purchased 3 years ago: 0.71%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.53

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: 02/09 - ex-div 2.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 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

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

30/01/2026

5

Sell

$5.00

-3.29%

Iluka Resources' Dec Q saw solid production but dire mineral sand prices that led to impairments of -$565mn. Prices are so low they undercut the cost base of some inventory, Ord Minnett notes.

Iluka’s mineral sand business has clocked up net debt of $473m from Balranald capex, and the broker expects debt will climb to over $800m in the June half 2027 due to $200m injection needed for Eneabba, and negative operating cashflow from low prices.

Ord Minnett believes Iluka will need an equity raise to deal with the debt overhang as there is scant cashflow from the operations at current prices. Target falls to $5.00 from $6.00, Sell retained.

FORECAST
Ord Minnett forecasts a full year FY25 dividend of 5.40 cents and EPS of minus -71.60 cents.
Ord Minnett forecasts a full year FY26 dividend of 6.60 cents and EPS of minus -60.80 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxx xx xxxxxxxxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx, 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

Canaccord Genuity

30/01/2026

1

Buy

$6.55

26.69%

Canaccord Genuity has lowered its target to $6.55 from $7.30 while retaining a Buy rating post the 4Q2025 results.

Mineral sands production and sales beat expectations but were offset by weaker average selling prices.

Production guidance for 2026 was set at 265kt and unit cash costs of $1,585/t, below consensus volumes, reflecting Cataby and SR2 remaining offline and higher costs from the Balranald ramp-up.

The broker sees no near-term recovery in mineral sands demand, particularly from China, but notes Balranald commissioning and Eneabba site works remain on track as key medium-term growth drivers. 

FORECAST
Canaccord Genuity forecasts a full year FY25 EPS of minus -1.28 cents.
Canaccord Genuity forecasts a full year FY26 EPS of minus -0.39 cents.
Access Extra Coverage Research History >

ILU STOCK CHART

FNArena News on ILU

Latest Mineral Sands News

1
Heightened Prospects For Iluka Resources

Apr 26 2021 - Australia
2
Brokers Tick Iluka’s Review But Doubt Outlook

Nov 06 2019 - Australia
3
Strong Outlook For Iluka Despite Soft Start

Apr 17 2019 - Australia
4
Iluka Enjoying Strong Pricing Trend In 2018

Jul 25 2018 - Australia
5
2018 Looks Bright For Iluka Resources

Jan 30 2018 - Australia
6
Iluka Beats All Forecasts

Jul 25 2017 - Australia
7
Weekly Ratings, Targets, Forecast Changes

Jan 23 2017 - Weekly Reports
8
Iluka Raises Rutile Profile, But Will It Pay?

Dec 14 2016 - Australia
9
More Favourable Outlook For Mineral Deposits

Aug 01 2016 - Small Caps
10
Material Matters: 2016 Outlook, Precious & Base Metals, Iron Ore And Steel

Apr 11 2016 - Commodities