The Returns On Capital At Fortescue (ASX:FMG) Don't Inspire Confidence
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Australian (ASX) Metals and Mining Industry Analysis
UpdatedMay 11, 2025
DataAggregated Company Financials
Companies676
- 7D0.6%
- 3M-4.0%
- 1Y-12.2%
- YTD0.4%
The Metals and Mining is pretty flat in the last 7 days, but Northern Star Resources has stood out, gaining 3.1%. As for the longer term, the industry has declined 12% in the last year. As for the next few years, earnings are expected to grow by 11% per annum.
Industry Valuation and Performance
Has the Australian Metals and Mining Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 11 May 2025 | AU$437.4b | AU$206.5b | AU$21.9b | 12.4x | 20x | 2.1x |
| Tue, 08 Apr 2025 | AU$383.7b | AU$215.3b | AU$23.5b | 11x | 16.4x | 1.8x |
| Thu, 06 Mar 2025 | AU$433.3b | AU$209.1b | AU$22.4b | 12.4x | 19.3x | 2.1x |
| Sat, 01 Feb 2025 | AU$451.7b | AU$214.0b | AU$21.6b | 13.4x | 20.9x | 2.1x |
| Mon, 30 Dec 2024 | AU$438.1b | AU$214.1b | AU$21.7b | 13.1x | 20.2x | 2x |
| Wed, 27 Nov 2024 | AU$445.9b | AU$207.8b | AU$20.8b | 11.9x | 21.5x | 2.1x |
| Fri, 25 Oct 2024 | AU$470.2b | AU$204.5b | AU$20.4b | 12.8x | 23x | 2.3x |
| Sun, 22 Sep 2024 | AU$437.3b | AU$201.8b | AU$20.1b | 12.5x | 21.8x | 2.2x |
| Tue, 20 Aug 2024 | AU$426.7b | AU$208.2b | AU$21.1b | 12.3x | 20.2x | 2x |
| Thu, 18 Jul 2024 | AU$473.8b | AU$206.5b | AU$20.5b | 13.9x | 23.1x | 2.3x |
| Sat, 15 Jun 2024 | AU$472.4b | AU$210.1b | AU$21.0b | 13.9x | 22.5x | 2.2x |
| Mon, 13 May 2024 | AU$496.7b | AU$210.7b | AU$21.1b | 14.5x | 23.5x | 2.4x |
| Wed, 10 Apr 2024 | AU$502.2b | AU$212.0b | AU$21.3b | 13.1x | 23.6x | 2.4x |
| Fri, 08 Mar 2024 | AU$491.4b | AU$211.6b | AU$21.9b | 12.9x | 22.5x | 2.3x |
| Sun, 04 Feb 2024 | AU$556.5b | AU$224.8b | AU$33.2b | 11.8x | 16.8x | 2.5x |
| Tue, 02 Jan 2024 | AU$590.1b | AU$218.4b | AU$31.9b | 12.5x | 18.5x | 2.7x |
| Thu, 30 Nov 2023 | AU$536.0b | AU$222.4b | AU$32.6b | 10.8x | 16.4x | 2.4x |
| Sat, 28 Oct 2023 | AU$554.4b | AU$246.2b | AU$32.8b | 10.2x | 16.9x | 2.3x |
| Mon, 25 Sep 2023 | AU$523.2b | AU$226.3b | AU$33.8b | 11.2x | 15.5x | 2.3x |
| Wed, 23 Aug 2023 | AU$518.5b | AU$227.8b | AU$40.0b | 10.3x | 13x | 2.3x |
| Fri, 21 Jul 2023 | AU$552.0b | AU$229.6b | AU$47.6b | 10x | 11.6x | 2.4x |
| Sun, 18 Jun 2023 | AU$558.7b | AU$228.8b | AU$47.4b | 10x | 11.8x | 2.4x |
| Tue, 16 May 2023 | AU$542.9b | AU$232.9b | AU$48.6b | 9.6x | 11.2x | 2.3x |
| Thu, 13 Apr 2023 | AU$562.9b | AU$233.5b | AU$48.9b | 9.7x | 11.5x | 2.4x |
| Sat, 11 Mar 2023 | AU$534.0b | AU$231.0b | AU$49.1b | 10.1x | 10.9x | 2.3x |
| Mon, 06 Feb 2023 | AU$574.3b | AU$225.1b | AU$52.1b | 12.1x | 11x | 2.6x |
| Wed, 04 Jan 2023 | AU$529.4b | AU$227.7b | AU$52.5b | 10.7x | 10.1x | 2.3x |
| Fri, 02 Dec 2022 | AU$550.0b | AU$229.4b | AU$53.0b | 11.7x | 10.4x | 2.4x |
| Sun, 30 Oct 2022 | AU$460.0b | AU$236.9b | AU$55.3b | 9.7x | 8.3x | 1.9x |
| Tue, 27 Sep 2022 | AU$441.8b | AU$232.8b | AU$54.8b | 8.2x | 8.1x | 1.9x |
| Thu, 25 Aug 2022 | AU$500.5b | AU$221.2b | AU$54.8b | 9.3x | 9.1x | 2.3x |
| Sat, 23 Jul 2022 | AU$441.6b | AU$218.7b | AU$46.8b | 9.1x | 9.4x | 2x |
| Mon, 20 Jun 2022 | AU$490.1b | AU$217.9b | AU$46.6b | 9.4x | 10.5x | 2.2x |
| Wed, 18 May 2022 | AU$530.6b | AU$217.9b | AU$46.8b | 10.8x | 11.3x | 2.4x |
Price to Earnings Ratio
11.3x
Current Industry PE
- Investors are optimistic on the Australian Metals and Mining industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 20.0x which is higher than its 3-year average PE of 15.9x.
- The industry is trading close to its 3-year average PS ratio of 2.3x.
Past Earnings Growth
- The earnings for companies in the Metals and Mining industry have declined 22% per year over the last three years.
- Meanwhile revenues have remained mostly flat.
- This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Australian Materials industry?
| AU Market | 0.058% | |
| Materials | 0.90% | |
| Metals and Mining | 0.56% | |
| Gold | 6.81% | |
| Aluminum | 2.72% | |
| Precious Metals and Minerals | 0.74% | |
| Copper | 0.53% | |
| Diversified Metals and Mining | -0.99% | |
| Steel | -2.22% | |
| Silver | -5.01% | |
Industry PE
- Investors are most optimistic about the Copper industry which is trading above its 3-year average PE ratio.
- Analysts are expecting annual earnings growth of 31.6% and investors are willing to pay a premium for that growth.
Forecasted Growth
- Analysts are most optimistic on the Precious Metals and Minerals industry, expecting annual earnings growth of 78% over the next 5 years.
- This is better than its past earnings decline of 51% per year.
- In contrast, the Steel industry is expected to see its earnings decline by 7.0% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| NST Northern Star Resources | AU$19.77 | 3.1% +AU$6.3b | 34.8% | PE29.9x | |
| EVN Evolution Mining | AU$8.63 | 8.6% +AU$1.4b | 124.7% | PE25x | |
| GMD Genesis Minerals | AU$4.36 | 12.1% +AU$531.0m | 140.2% | PE41.1x | |
| GOR Gold Road Resources | AU$3.28 | 10.4% +AU$336.8m | 103.7% | PE25x | |
| VAU Vault Minerals | AU$0.47 | 10.6% +AU$306.1m | 2.2% | PE37.7x |
