Mineral Resources Past Earnings Performance
We're still processing the latest earnings report of this company
Past criteria checks 1/6
Mineral Resources's earnings have been declining at an average annual rate of -54.5%, while the Metals and Mining industry saw earnings growing at 15.2% annually. Revenues have been growing at an average rate of 10% per year. Mineral Resources's return on equity is 11.5%, and it has net margins of 7.6%.
Key information
-54.54%
Earnings growth rate
-54.72%
EPS growth rate
| Metals and Mining Industry Growth | 22.33% |
| Revenue growth rate | 10.05% |
| Return on equity | 11.49% |
| Net Margin | 7.64% |
| Next Earnings Update | 29 Jul 2026 |
Recent past performance updates
Recent updates
MIN: Less Severe Revenue Contraction Will Still Restrain Future Returns
Analysts have lifted their price target on Mineral Resources from A$21.79 to A$32.52, supported by updated assumptions that point to less pronounced revenue contraction, slightly higher profit margins and a broadly steady forward P/E multiple despite a modestly higher discount rate. Valuation Changes Fair Value: A$21.79 to A$32.52, reflecting a large upward reset in the assessed equity value per share.
MIN: Fair Value Will Reflect Balanced Profitability Assumptions And Revised Earnings Multiple
Analysts have modestly lifted their fair value estimate for Mineral Resources to A$60.29 from A$59.38, reflecting updated assumptions on the discount rate, revenue growth, profit margin and future P/E. Valuation Changes Fair Value: A$60.29 compared with A$59.38 previously, reflecting a modest uplift in the modelled estimate.MIN: Fair Value Will Reflect Balanced Profitability Assumptions And Revised Earnings Multiple
Analysts have trimmed their price target for Mineral Resources slightly to reflect a new fair value estimate of about A$59.38 per share, compared with roughly A$59.85 previously, citing refreshed assumptions for the discount rate, revenue growth, profit margin and future P/E. Valuation Changes Fair Value: A$59.38 per share, slightly below the previous estimate of A$59.85.MIN: Slightly Higher Fair Value Will Reflect Balanced Profitability And Multiple Assumptions
The analyst price target for Mineral Resources has been adjusted slightly higher to A$59.85 from A$59.77, with analysts citing updates in profit margin assumptions and valuation multiples as key drivers of the change. Valuation Changes Fair Value: A$59.77 to A$59.85, reflecting a very small upward adjustment in the modelled estimate.MIN: Higher Assessed Fair Value Will Balance Evolving Risks And Opportunities
Analysts have increased their price target for Mineral Resources from A$46.58 to A$59.77. This change reflects updated assumptions around discount rate, revenue growth, profit margin and future P/E, which they view as better aligned with the stock’s current risk and earnings profile.
MIN: Refreshed Assumptions Will Support Upside At Stable A$75 Fair Value
Analysts have maintained their A$75.0 price target for Mineral Resources. Minor adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions have resulted in a refreshed yet directionally consistent valuation view.MIN: Bald Hill Sale Process And Iron Ore Strength Will Support Upside
Analysts have increased their fair value estimate for Mineral Resources from A$68.00 to A$75.00, citing updated assumptions about revenue growth, profit margins and a lower future P/E multiple in their models. What's in the News Mineral Resources is reported to have started a sale process for its Bald Hill lithium mine to help secure funds to reduce debt, with interest expected in either the whole asset or a partial stake (Key Developments).MIN: Bald Hill Sale And Iron Ore Strength Will Support Future Upside
Analysts have kept their fair value estimate for Mineral Resources steady at A$68.00. Updated assumptions point to higher revenue growth, a slightly lower profit margin, a marginally reduced discount rate and a modestly lower future P/E multiple as the key drivers behind the unchanged price target.MIN: Bald Hill Sale And High Debt Will Pressure Future Returns
Analysts have raised their price target for Mineral Resources from A$15.00 to about A$21.79. They cite updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E as the key drivers of this change.MIN: Higher Margins And Asset Sale Will Drive Stronger Future Upside
Analysts have lifted their price target for Mineral Resources from 54.04 dollars to 68.00 dollars, citing expectations of structurally higher profit margins despite moderating revenue growth assumptions and a slightly increased discount rate. What's in the News Mineral Resources has reportedly launched a sale process for its Bald Hill lithium mine, aiming to secure funds to pay down debt through either a full or partial stake sale (Key Developments) Investment banks Standard Chartered and Argonaut Securities are running the Bald Hill sale process, while JPMorgan continues to advise Mineral Resources more broadly on strategic options (Key Developments) Potential bidders are expected to include downstream battery and chemical producers such as LG Chemical and Mitsubishi.MIN: Bald Hill Sale And Higher Margins Will Balance Future Risks And Opportunities
Analysts have raised their price target for Mineral Resources by approximately $1.15 per share, citing slightly higher long term revenue growth expectations, a notable uplift in forecast profit margins, and a lower projected future price to earnings multiple that together support a modestly higher fair value estimate. What's in the News Mineral Resources has reportedly launched a sale process for its Bald Hill lithium mine to help pay down debt, exploring both full and partial stake divestment options (Key Developments).MIN: Asset Sales And Leadership Changes Will Balance Risks And Opportunities
Analysts have raised their price target for Mineral Resources from $42.22 to $45.43. They cite improved profit margin projections and a slightly higher discount rate, which more than offset marginally lower anticipated revenue growth.MIN: Debt Reduction Efforts And Asset Sales Will Shape Profit Outlook
The analyst price target for Mineral Resources has been raised from $37.51 to $42.22. This reflects analysts' increased optimism due to stronger projected revenue growth and improved profit margins.Analysts Lift Mineral Resources Price Target as Asset Sales and Margin Gains Offset Revenue Slowdown
Mineral Resources' analyst price target has increased modestly from $36.60 to $37.51, as analysts cite improved profit margins offsetting slower revenue growth in their updated outlook. What's in the News Mineral Resources Limited is considering the sale of its lithium mines, including Wodgina, Mt Marion, and Bald Hill, to reduce its $5.3 billion debt pile (Key Developments).Onslow Iron Scale-Up Will Support Global Industrial Demand
Analysts have raised their price target for Mineral Resources from $34.79 to $36.60 per share, citing modest improvements in forecasted revenue growth and profit margins as key drivers for the upward revision. What's in the News Mineral Resources Limited is considering the sale of its West Australian lithium mines, including Wodgina, Mt Marion, and Bald Hill.Onslow Iron Scale-Up Will Support Global Industrial Demand
Despite a sharp rise in Mineral Resources' future P/E and a significant drop in net profit margin, the consensus analyst price target has been revised modestly upwards to A$34.79. What's in the News Mineral Resources Limited is considering selling its lithium mines to address a $5.3 billion debt pile after posting a $904 million annual loss.Onslow Iron And Lithium Operations Will Increase Output
Despite steady revenue growth and a marginal improvement in net profit margin forecasts, the consensus analyst price target for Mineral Resources has been modestly raised to A$31.07. What's in the News Mineral Resources may sell up to 15% of its mining services business, potentially raising $750 million to $1.1 billion.Onslow Iron And Lithium Operations Will Increase Output
The upward revision in Mineral Resources’ Analyst Price Target reflects a modest rise in the future P/E ratio alongside a slight decrease in the discount rate, resulting in a new consensus fair value of A$29.91. What's in the News Mineral Resources Limited is considering selling a 10%-15% stake in its mining services business, potentially raising $750 million to $1.1 billion, with alternative options to monetize assets such as its Onslow haul road and Onslow Iron loan receivables.
Onslow Iron's Ramp-Up And Cost Reductions Will Improve Operational Efficiency
Solid liquidity position and cash flow from Onslow Iron support future growth and potential for debt reduction, enhancing net margins and earnings.Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Mineral Resources makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Dec 25 | 5,234 | 400 | 2,360 | 0 |
| 30 Sep 25 | 4,853 | -252 | 2,380 | 0 |
| 30 Jun 25 | 4,472 | -904 | 2,400 | 0 |
| 31 Mar 25 | 4,763 | -1,068 | 2,492 | 0 |
| 31 Dec 24 | 5,053 | -1,233 | 2,584 | 0 |
| 30 Sep 24 | 5,166 | -554 | 2,557 | 0 |
| 30 Jun 24 | 5,278 | 125 | 2,529 | 0 |
| 31 Mar 24 | 5,111 | 264 | 2,432 | 0 |
| 31 Dec 23 | 4,944 | 403 | 2,334 | 0 |
| 30 Sep 23 | 4,861 | 323 | 2,211 | 0 |
| 30 Jun 23 | 4,779 | 243 | 2,088 | 0 |
| 31 Mar 23 | 4,597 | 481 | 2,001 | 0 |
| 31 Dec 22 | 4,415 | 719 | 1,913 | 0 |
| 30 Sep 22 | 3,916 | 534 | 1,884 | 0 |
| 30 Jun 22 | 3,418 | 349 | 1,855 | 0 |
| 31 Mar 22 | 3,487 | 560 | 1,777 | 0 |
| 31 Dec 21 | 3,557 | 770 | 1,698 | 0 |
| 30 Sep 21 | 3,645 | 1,020 | 1,496 | 0 |
| 30 Jun 21 | 3,734 | 1,270 | 1,295 | 0 |
| 31 Mar 21 | 3,201 | 954 | 1,170 | 0 |
| 31 Dec 20 | 2,669 | 638 | 1,045 | 0 |
| 30 Sep 20 | 2,397 | 821 | 1,013 | 0 |
| 30 Jun 20 | 2,125 | 1,004 | 981 | 0 |
| 31 Mar 20 | 2,034 | 1,019 | 957 | 0 |
| 31 Dec 19 | 1,944 | 1,034 | 934 | 0 |
| 30 Sep 19 | 1,728 | 599 | 854 | 0 |
| 30 Jun 19 | 1,512 | 164 | 774 | 0 |
| 31 Mar 19 | 1,423 | 143 | 768 | 0 |
| 31 Dec 18 | 1,333 | 122 | 762 | 0 |
| 30 Sep 18 | 1,483 | 197 | 791 | 0 |
| 30 Jun 18 | 1,633 | 272 | 821 | 0 |
| 31 Mar 18 | 1,582 | 249 | 790 | 0 |
| 31 Dec 17 | 1,530 | 225 | 759 | 0 |
| 30 Sep 17 | 1,494 | 213 | 730 | 0 |
| 30 Jun 17 | 1,458 | 201 | 700 | 0 |
| 31 Mar 17 | 1,421 | 134 | 662 | 0 |
| 31 Dec 16 | 1,383 | 67 | 623 | 0 |
| 30 Sep 16 | 1,280 | 21 | 600 | 0 |
| 30 Jun 16 | 1,178 | -25 | 577 | 0 |
| 31 Mar 16 | 1,150 | 33 | 557 | 0 |
| 31 Dec 15 | 1,123 | 91 | 537 | 0 |
| 30 Sep 15 | 1,213 | 52 | 591 | 0 |
| 30 Jun 15 | 1,303 | 13 | 646 | 0 |
Quality Earnings: MIN has a large one-off gain of A$292.0M impacting its last 12 months of financial results to 31st December, 2025.
Growing Profit Margin: MIN became profitable in the past.
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: MIN's earnings have declined by 54.5% per year over the past 5 years.
Accelerating Growth: MIN has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: MIN has become profitable in the last year, making it difficult to compare its past year earnings growth to the Metals and Mining industry (59.9%).
Return on Equity
High ROE: MIN's Return on Equity (11.5%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/01 03:28 |
| End of Day Share Price | 2026/05/01 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/06/30 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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
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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
Mineral Resources Limited is covered by 27 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Josh Kannourakis | Barrenjoey Markets Pty Limited |
| Glyn Lawcock | Barrenjoey Markets Pty Limited |
| Dale Koenders | Barrenjoey Markets Pty Limited |