Whitehaven Coal Limited

ASX:WHC Stock Report

Market Cap: AU$7.3b

Whitehaven Coal Future Growth

Future criteria checks 2/6

Whitehaven Coal is forecast to grow earnings and revenue by 4.9% and 7.4% per annum respectively. EPS is expected to grow by 7.6% per annum. Return on equity is forecast to be 8.6% in 3 years.

Key information

4.9%

Earnings growth rate

7.59%

EPS growth rate

Oil and Gas earnings growth11.7%
Revenue growth rate7.4%
Future return on equity8.63%
Analyst coverage

Good

Last updated08 Jun 2026

Recent future growth updates

Recent updates

Narrative Update • Jun 06

WHC: Buybacks And Earnings Delivery Will Shape Future Risk Reward Balance

Analysts have adjusted their price target on Whitehaven Coal to A$10.00. The updated view reflects changes to revenue growth, profit margin assumptions and a lower future P/E multiple, offset by a slightly higher discount rate.
Narrative Update • May 20

WHC: Modest Risk Repricing And Capital Returns Will Shape Future Balance

Analysts have trimmed their fair value estimate for Whitehaven Coal slightly to A$8.78 per share, reflecting a modestly higher discount rate, a small adjustment to profit margin expectations and a slightly higher implied future P/E multiple. Analyst Commentary Analysts covering Whitehaven Coal are using a mix of cautious and constructive inputs when thinking about valuation, particularly around risk, earnings quality and the level of market expectations embedded in the updated fair value.
Narrative Update • May 04

WHC: Commodity Deck Reset And Capital Returns Will Shape Future Risk Balance

The analyst fair value estimate for Whitehaven Coal has been adjusted slightly higher to A$8.86 from A$8.82 as analysts factor in updated commodity price assumptions, along with modest tweaks to revenue growth, profit margin, and future P/E expectations. Analyst Commentary Recent Street research around Whitehaven Coal has focused on updated commodity price assumptions, which feed directly into analysts' valuation work and the fair value estimate of A$8.86.
Narrative Update • Apr 20

WHC: Commodity Deck Reset And Buybacks Will Shape Balanced Risk Profile

Analysts have lowered their price target on Whitehaven Coal to A$10.00 from A$11.00. This reflects updated commodity price assumptions, along with slightly higher fair value, revenue growth and profit margin inputs, as well as a lower forward P/E in their models.
Narrative Update • Apr 05

WHC: Lower Coal Assumptions And Rich P/E Will Pressure Shares

Analysts have trimmed their A$ price targets on Whitehaven Coal, including a move to A$10 from A$11, alongside updated long term commodity price assumptions. The modelled fair value used here shifts from A$6.44 to A$6.83 based on revised revenue growth, profit margin and future P/E inputs.
Narrative Update • Mar 22

WHC: Future Buybacks And Mixed Commodity Views May Support Balanced Risk Profile

Analysts have reduced their price target on Whitehaven Coal to A$10 from A$11, reflecting updated commodity price forecasts while still incorporating higher fair value, revenue and profit assumptions alongside a lower future P/E in their models. Analyst Commentary Recent research on Whitehaven Coal highlights a mixed set of views, with some focusing on adjusted commodity assumptions and others pointing to valuation and risk considerations.
Narrative Update • Mar 08

WHC: Lower Coal Assumptions And Rich P/E Are Expected To Pressure Shares

Analysts have trimmed their fair value estimate for Whitehaven Coal and the average price target has eased to A$10 from A$11, reflecting updated long term commodity price assumptions and changes to expected revenue growth, profit margins and future P/E multiples. Analyst Commentary Recent updates from bearish analysts highlight a more cautious stance on Whitehaven Coal, mainly driven by revised commodity assumptions and concerns about how current pricing feeds into earnings and valuation.
Narrative Update • Feb 22

WHC: Buybacks And Higher Commodity Deck Will Shape Future Upside

Analysts have raised their fair value estimate for Whitehaven Coal to A$10.00 from A$9.50, reflecting updated commodity price assumptions and a lower future P/E expectation of 16.17x, partly offset by a more cautious profit margin outlook. Analyst Commentary Recent Street research on Whitehaven Coal presents a mixed picture, with valuation views pulling in different directions.
Narrative Update • Feb 08

WHC: Richer P/E And Downgrade Are Expected To Pressure Shares

Analysts have revised their fair value estimate for Whitehaven Coal to A$6.10 per share, down from about A$6.80. They cite richer valuation metrics and a higher implied future P/E of roughly 26x, even as their forecasts incorporate lower revenue growth and an improved profit margin outlook.
Narrative Update • Jan 24

WHC: Conflicting Views And Buybacks Will Shape Future Share Repricing

Analysts have raised their fair value estimate for Whitehaven Coal from A$8.85 to A$9.50. This reflects updated assumptions for discount rates, revenue growth, profit margins and a higher future P/E multiple, even as some recent research has adopted a more cautious stance on valuation.
Analysis Article • Jan 12

An Intrinsic Calculation For Whitehaven Coal Limited (ASX:WHC) Suggests It's 49% Undervalued

Key Insights Whitehaven Coal's estimated fair value is AU$16.11 based on 2 Stage Free Cash Flow to Equity Current share...
Narrative Update • Jan 10

WHC: Future Buybacks And Earnings Visibility May Support Balanced Risk Profile

Analysts have inched up their fair value estimate for Whitehaven Coal to A$7.63 from A$7.62, reflecting slightly lower projected revenue growth and profit margins paired with a marginally higher future P/E assumption. Analyst Commentary Recent Street research on other cyclical, cash generative businesses gives some useful context for how analysts might frame Whitehaven Coal, particularly around valuation, earnings visibility, and the trade off between shorter term headwinds and longer term earnings power.
Narrative Update • Dec 22

WHC: Future Buybacks And Margin Discipline May Support Balanced Risk Reward Profile

Analysts have nudged their price target for Whitehaven Coal higher, lifting fair value by about A$0.14 per share as they factor in stronger expected revenue growth and slightly improved profit margins, while keeping the discount rate and long term valuation multiples broadly unchanged. Analyst Commentary Analysts covering Whitehaven Coal remain divided on the near term risk reward, balancing solid fundamentals and supportive pricing against execution and macro headwinds that could weigh on earnings quality and valuation multiples.
Narrative Update • Dec 08

WHC: Future Margins And Buybacks May Support Balanced Risk Reward Profile

Analysts have nudged their price target on Whitehaven Coal modestly higher, citing slightly improved fair value and profit margin assumptions, while tempering revenue growth expectations and keeping the discount rate and future P/E largely unchanged. Analyst Commentary Bullish analysts view the modest price target increase as a reflection of improving confidence in Whitehaven Coal's ability to sustain healthier profit margins, even as they remain selective on top line growth.
Narrative Update • Nov 24

WHC: Improved Margins And Cost Controls May Support Near-Term Stability

Analysts have raised their price target for Whitehaven Coal slightly, moving from $7.40 to $7.41. They cited an improved profit margin outlook, even as revenue growth forecasts moderated.
Narrative Update • Oct 24

Carbon Policy Pressures And Shifting Demand Will Define Future Coal Profitability

Analysts have slightly lowered their price target for Whitehaven Coal to $7.40 from $7.44, citing updated modeling on revenue growth and profitability expectations. Analyst Commentary Following the updated price target for Whitehaven Coal, analysts have offered a range of perspectives on the company’s outlook and valuation.
Narrative Update • Oct 03

ESG Mandates And Carbon Pricing Will Hurt Coal Markets

Analysts have slightly increased their price target for Whitehaven Coal to $7.44 from $7.27. They cited modest improvements in profit margin and discounted cash flow metrics, despite softer revenue growth projections.
Analysis Article • Sep 15

We Think Whitehaven Coal (ASX:WHC) Is Taking Some Risk With Its Debt

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...
Analysis Article • Jul 23

Whitehaven Coal Limited's (ASX:WHC) Share Price Boosted 29% But Its Business Prospects Need A Lift Too

Whitehaven Coal Limited ( ASX:WHC ) shares have continued their recent momentum with a 29% gain in the last month...
Analysis Article • Jul 02

Is Whitehaven Coal Limited (ASX:WHC) Trading At A 23% Discount?

Key Insights Using the 2 Stage Free Cash Flow to Equity, Whitehaven Coal fair value estimate is AU$7.31 Whitehaven...
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New Narrative • Feb 09

Acquiring Queensland Coal Assets And Partnering With Nippon Steel Will Expand Production And Improve Financial Stability

Acquisition and joint ventures enhance production and stabilize finances, with improved cash flow and potential margin increases.

Earnings and Revenue Growth Forecasts

ASX:WHC - Analysts future estimates and past financials data (AUD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
6/30/20286,2305415181,33210
6/30/20276,1605485271,15111
6/30/20265,454168-308472
12/31/20254,88161848390N/A
9/30/20255,357634317685N/A
6/30/20255,832649586979N/A
3/31/20255,7484358561,300N/A
12/31/20245,6631971,0701,564N/A
9/30/20244,744276472946N/A
6/30/20243,824355-127327N/A
3/31/20243,836749103488N/A
12/31/20233,8481,144334649N/A
9/30/20234,9601,9061,8192,105N/A
6/30/20236,0732,6683,3043,562N/A
3/31/20236,6853,0313,8304,059N/A
12/31/20227,2973,3934,3564,557N/A
9/30/20226,1122,6733,3643,543N/A
6/30/20224,9271,9522,3722,530N/A
3/31/20223,6179221,4431,576N/A
12/31/20212,307-109515622N/A
9/30/20211,936-326281380N/A
6/30/20211,564-54448139N/A
3/31/20211,552-318-19120N/A
12/31/20201,540-92-87100N/A
9/30/20201,632-31-94123N/A
6/30/20201,72530-102146N/A
3/31/20201,916140112353N/A
12/31/20192,106249326560N/A
9/30/20192,299389N/A738N/A
6/30/20192,492528N/A916N/A
3/31/20192,439551N/A915N/A
12/31/20182,386574N/A914N/A
9/30/20182,325549N/A903N/A
6/30/20182,264525N/A892N/A
3/31/20182,184515N/A845N/A
12/31/20172,104505N/A797N/A
9/30/20171,942456N/A702N/A
6/30/20171,781406N/A608N/A
3/31/20171,601288N/A483N/A
12/31/20161,422170N/A359N/A
9/30/20161,29795N/A265N/A
6/30/20161,17320N/A172N/A
3/31/20161,073-112N/A167N/A
12/31/2015973-245N/A162N/A
9/30/2015874-288N/A158N/A
6/30/2015774-331N/A154N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: WHC's forecast earnings growth (4.9% per year) is above the savings rate (3.6%).

Earnings vs Market: WHC's earnings (4.9% per year) are forecast to grow slower than the Australian market (12% per year).

High Growth Earnings: WHC's earnings are forecast to grow, but not significantly.

Revenue vs Market: WHC's revenue (7.4% per year) is forecast to grow faster than the Australian market (6% per year).

High Growth Revenue: WHC's revenue (7.4% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: WHC's Return on Equity is forecast to be low in 3 years time (8.6%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/12 19:30
End of Day Share Price 2026/06/12 00:00
Earnings2025/12/31
Annual Earnings2025/06/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Whitehaven Coal Limited is covered by 32 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Glyn LawcockBarrenjoey Markets Pty Limited
Josh KannourakisBarrenjoey Markets Pty Limited
Dale KoendersBarrenjoey Markets Pty Limited