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Australian (ASX) Steel Industry Analysis

UpdatedFeb 07, 2026
DataAggregated Company Financials
Companies36
  • 7D-0.9%
  • 3M9.0%
  • 1Y10.3%
  • YTDn/a

Over the last 7 days, the Steel industry has remained flat, although notably BlueScope Steel declined by 4.4%. The past year has been better, since the industry has gained 10% in that time. As for the next few years, earnings are expected to grow by 1.6% per annum.

Industry Valuation and Performance

Has the Australian Steel Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 07 Feb 2026AU$93.3bAU$56.1bAU$4.7b33.5x19.9x1.7x
Mon, 05 Jan 2026AU$94.0bAU$57.3bAU$4.8b34.1x19.5x1.6x
Wed, 03 Dec 2025AU$92.4bAU$57.9bAU$4.9b31.3x18.8x1.6x
Fri, 31 Oct 2025AU$90.3bAU$58.1bAU$5.0b27.3x18.1x1.6x
Sun, 28 Sep 2025AU$81.8bAU$58.4bAU$4.8b25.4x16.9x1.4x
Tue, 26 Aug 2025AU$84.5bAU$60.5bAU$6.2b11.4x13.6x1.4x
Thu, 24 Jul 2025AU$80.7bAU$60.4bAU$6.7b10.7x12.1x1.3x
Sat, 21 Jun 2025AU$66.5bAU$61.0bAU$6.8b8.6x9.8x1.1x
Mon, 19 May 2025AU$75.4bAU$61.4bAU$6.9b9.4x11x1.2x
Wed, 16 Apr 2025AU$68.0bAU$62.0bAU$7.0b7.7x9.7x1.1x
Fri, 14 Mar 2025AU$71.6bAU$61.9bAU$7.1b8.4x10.1x1.2x
Sun, 09 Feb 2025AU$84.6bAU$66.3bAU$10.8b9.1x7.9x1.3x
Tue, 07 Jan 2025AU$78.3bAU$66.4bAU$10.9b8.4x7.2x1.2x
Thu, 05 Dec 2024AU$86.5bAU$65.7bAU$10.6b9x8.1x1.3x
Sat, 02 Nov 2024AU$85.4bAU$64.9bAU$10.5b8.4x8.1x1.3x
Mon, 30 Sep 2024AU$88.7bAU$63.2bAU$10.1b7.5x8.7x1.4x
Wed, 28 Aug 2024AU$82.7bAU$64.7bAU$10.1b8x8.2x1.3x
Fri, 26 Jul 2024AU$88.4bAU$68.2bAU$11.2b9x7.9x1.3x
Sun, 23 Jun 2024AU$92.8bAU$67.6bAU$11.1b10.4x8.4x1.4x
Tue, 21 May 2024AU$111.6bAU$67.5bAU$11.1b11.3x10.1x1.7x
Thu, 18 Apr 2024AU$105.2bAU$69.3bAU$11.7b8.6x9x1.5x
Sat, 16 Mar 2024AU$101.5bAU$68.4bAU$11.5b8.6x8.8x1.5x
Mon, 12 Feb 2024AU$116.6bAU$66.6bAU$10.8b9.7x10.8x1.8x
Wed, 10 Jan 2024AU$117.4bAU$65.5bAU$10.3b9.6x11.4x1.8x
Fri, 08 Dec 2023AU$107.5bAU$66.2bAU$10.5b8.6x10.3x1.6x
Sun, 05 Nov 2023AU$99.9bAU$66.8bAU$10.8b8.6x9.2x1.5x
Tue, 03 Oct 2023AU$92.8bAU$67.4bAU$10.9b8.6x8.5x1.4x
Thu, 31 Aug 2023AU$94.1bAU$66.9bAU$10.9b10.2x8.6x1.4x
Sat, 29 Jul 2023AU$94.5bAU$67.4bAU$13.3b6.4x7.1x1.4x
Mon, 26 Jun 2023AU$92.3bAU$67.3bAU$13.3b6.1x7x1.4x
Wed, 24 May 2023AU$89.1bAU$67.4bAU$13.4b6.1x6.6x1.3x
Fri, 21 Apr 2023AU$98.5bAU$67.1bAU$13.5b6.6x7.3x1.5x
Sun, 19 Mar 2023AU$91.7bAU$63.2bAU$12.5b6.6x7.3x1.5x
Tue, 14 Feb 2023AU$95.0bAU$62.9bAU$14.3b6.2x6.6x1.5x
Price to Earnings Ratio

6.6x


Total Market Cap: AU$95.0bTotal Earnings: AU$14.3bTotal Revenue: AU$62.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Steel Industry Price to Earnings3Y Average 10.2x202420252026
Current Industry PE
  • Investors are optimistic on the Australian Steel industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 19.9x which is higher than its 3-year average PE of 10.2x.
  • The 3-year average PS ratio of 1.4x is lower than the industry's current PS ratio of 1.7x.
Past Earnings Growth
  • The earnings for companies in the Steel industry have declined 31% per year over the last three years,
  • Revenues have also declined 3.7% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Comparison

How does Australian Steel compare with similar industries?

AU Market-2.49%
Materials-5.31%
Metals and Mining-5.46%
Steel-0.95%
Diversified Metals and Mining-4.76%
Aluminum-6.27%
Copper-8.08%
Gold-8.96%
Precious Metals and Minerals-9.35%
Silver-21.10%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
FMG FortescueAU$21.231.1%
+AU$707.2m		7.7%PE13.5x
RHI Red Hill MineralsAU$4.771.9%
+AU$5.8m		16.1%PE33.5x
EQX Equatorial ResourcesAU$0.1926.7%
+AU$5.3m		35.7%PB2.2x
LCY Legacy Iron OreAU$0.0086.7%
+AU$4.9m		-20.0%PS1.4x
CZR CZR ResourcesAU$0.352.9%
+AU$2.4m		77.5%PB9.6x

Latest News

MGX
AU$0.43
MGX Resources
7D
-11.2%
1Y
40.3%
SMR
AU$2.78
Stanmore Resources
7D
-7.6%
1Y
4.1%

SMR: Future Returns Will Balance Weaker Revenue Outlook With Higher Earnings Multiple

Analysts have adjusted their price target on Stanmore Resources from A$2.87 to A$3.20, reflecting updates to their fair value, discount rate, revenue growth outlook, profit margin assumptions, and future P/E expectations. Valuation Changes Fair Value: updated from A$2.87 to A$3.20, representing a modest uplift in the assessed valuation per share.
CIA
AU$5.31
Champion Iron
7D
-9.7%
1Y
-5.2%
BSL
AU$28.91
BlueScope Steel
7D
-4.4%
1Y
34.4%
DRR
AU$4.11
Deterra Royalties
7D
-2.8%
1Y
-1.7%

A Look At The Fair Value Of Deterra Royalties Limited (ASX:DRR)

Jan 30
A Look At The Fair Value Of Deterra Royalties Limited (ASX:DRR)
VSL
AU$6.62
Vulcan Steel
7D
-4.7%
1Y
-6.4%
SGM
AU$19.49
Sims
7D
-3.9%
1Y
43.3%

SGM: Investor Day Focus And Rich P/E Will Likely Cap Future Returns

Analysts have lifted their price target on Sims to A$16.71 from A$16.02, citing updated assumptions for slightly higher revenue growth, modestly stronger profit margins and a marginally different forward P/E multiple. What's in the News Sims plans a Sims Lifecycle Services Investor Day event in Nashville, giving investors a focused update on the lifecycle services business (Key Developments).
FMG
AU$21.23
Fortescue
7D
1.1%
1Y
7.7%

FMG: Dividend Policy Will Face Mounting Pressure As Execution Risks Persist

Fortescue's analyst price target has been revised to about A$19.88 from A$19.33. Analysts point to updated assumptions around discount rates, revenue trends, profit margins and future P/E to support the change.
LCY
AU$0.008
Legacy Iron Ore
7D
6.7%
1Y
-20.0%
GRR
AU$0.22
Grange Resources
7D
-15.4%
1Y
-6.4%
RHI
AU$4.77
Red Hill Minerals
7D
1.9%
1Y
16.1%
CZR
AU$0.35
CZR Resources
7D
2.9%
1Y
77.5%
EMA
AU$0.064
Eminence Minerals
7D
6.7%
1Y
-50.8%
EQX
AU$0.19
Equatorial Resources
7D
26.7%
1Y
35.7%
AKO
AU$0.089
AKORA Resources
7D
4.7%
1Y
-25.8%