company background image
PLS

Pilbara Minerals ASX:PLS Stock Report

Last Price

AU$4.55

Market Cap

AU$13.6b

7D

-7.9%

1Y

122.0%

Updated

28 Sep, 2022

Data

Company Financials +
PLS fundamental analysis
Snowflake Score
Valuation2/6
Future Growth4/6
Past Performance4/6
Financial Health6/6
Dividends0/6

PLS Stock Overview

Pilbara Minerals Limited explores for, develops, and operates mineral resources in Australia.

Pilbara Minerals Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Pilbara Minerals
Historical stock prices
Current Share PriceAU$4.55
52 Week HighAU$5.08
52 Week LowAU$1.78
Beta2.09
1 Month Change27.10%
3 Month Change103.13%
1 Year Change121.95%
3 Year Change1,468.97%
5 Year Change536.36%
Change since IPO28,337.50%

Recent News & Updates

Sep 15
Pilbara Minerals Limited (ASX:PLS) Shares Could Be 48% Below Their Intrinsic Value Estimate

Pilbara Minerals Limited (ASX:PLS) Shares Could Be 48% Below Their Intrinsic Value Estimate

In this article we are going to estimate the intrinsic value of Pilbara Minerals Limited ( ASX:PLS ) by estimating the...

Shareholder Returns

PLSAU Metals and MiningAU Market
7D-7.9%-3.6%-3.3%
1Y122.0%2.4%-10.6%

Return vs Industry: PLS exceeded the Australian Metals and Mining industry which returned 2.4% over the past year.

Return vs Market: PLS exceeded the Australian Market which returned -10.6% over the past year.

Price Volatility

Is PLS's price volatile compared to industry and market?
PLS volatility
PLS Average Weekly Movement7.4%
Metals and Mining Industry Average Movement11.4%
Market Average Movement9.6%
10% most volatile stocks in AU Market16.7%
10% least volatile stocks in AU Market4.3%

Stable Share Price: PLS is not significantly more volatile than the rest of Australian stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: PLS's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2005300Dale Hendersonhttps://www.pilbaraminerals.com.au

Pilbara Minerals Limited explores for, develops, and operates mineral resources in Australia. The company primarily holds a 100% interest in the Pilgangoora lithium-tantalum project located in the Pilbara region of Western Australia. The company was incorporated in 2005 and is based in West Perth, Australia.

Pilbara Minerals Fundamentals Summary

How do Pilbara Minerals's earnings and revenue compare to its market cap?
PLS fundamental statistics
Market CapAU$13.58b
Earnings (TTM)AU$561.83m
Revenue (TTM)AU$1.19b

24.2x

P/E Ratio

11.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PLS income statement (TTM)
RevenueAU$1.19b
Cost of RevenueAU$380.87m
Gross ProfitAU$808.72m
Other ExpensesAU$246.89m
EarningsAU$561.83m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.19
Gross Margin67.98%
Net Profit Margin47.23%
Debt/Equity Ratio18.2%

How did PLS perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is PLS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PLS?

Other financial metrics that can be useful for relative valuation.

PLS key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue11.2x
Enterprise Value/EBITDA16.8x
PEG Ratio3.1x

Price to Earnings Ratio vs Peers

How does PLS's PE Ratio compare to its peers?

PLS PE Ratio vs Peers
The above table shows the PE ratio for PLS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average17.3x
AKE Allkem
18.7x20.8%AU$8.9b
MIN Mineral Resources
34.3x18.1%AU$12.0b
LYC Lynas Rare Earths
12.3x13.7%AU$6.6b
S32 South32
4.1x-17.4%AU$16.8b
PLS Pilbara Minerals
24.2x7.9%AU$13.6b

Price-To-Earnings vs Peers: PLS is expensive based on its Price-To-Earnings Ratio (24.2x) compared to the peer average (17.3x).


Price to Earnings Ratio vs Industry

How does PLS's PE Ratio compare vs other companies in the AU Metals and Mining Industry?

Price-To-Earnings vs Industry: PLS is expensive based on its Price-To-Earnings Ratio (24.2x) compared to the Australian Metals and Mining industry average (8.3x)


Price to Earnings Ratio vs Fair Ratio

What is PLS's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PLS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24.2x
Fair PE Ratio19.5x

Price-To-Earnings vs Fair Ratio: PLS is expensive based on its Price-To-Earnings Ratio (24.2x) compared to the estimated Fair Price-To-Earnings Ratio (19.5x).


Share Price vs Fair Value

What is the Fair Price of PLS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PLS (A$4.55) is trading below our estimate of fair value (A$9.14)

Significantly Below Fair Value: PLS is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is lower than the current share price.


Discover undervalued companies

Future Growth

How is Pilbara Minerals forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


7.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PLS's forecast earnings growth (7.9% per year) is above the savings rate (1.8%).

Earnings vs Market: PLS's earnings (7.9% per year) are forecast to grow faster than the Australian market (6.7% per year).

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

Revenue vs Market: PLS's revenue (9.2% per year) is forecast to grow faster than the Australian market (3.7% per year).

High Growth Revenue: PLS's revenue (9.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PLS's Return on Equity is forecast to be high in 3 years time (26%)


Discover growth companies

Past Performance

How has Pilbara Minerals performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


57.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PLS has high quality earnings.

Growing Profit Margin: PLS became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: PLS has become profitable over the past 5 years, growing earnings by 57.3% per year.

Accelerating Growth: PLS has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: PLS has become profitable in the last year, making it difficult to compare its past year earnings growth to the Metals and Mining industry (22.7%).


Return on Equity

High ROE: PLS's Return on Equity (43.5%) is considered outstanding.


Discover strong past performing companies

Financial Health

How is Pilbara Minerals's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: PLS's short term assets (A$960.2M) exceed its short term liabilities (A$337.3M).

Long Term Liabilities: PLS's short term assets (A$960.2M) exceed its long term liabilities (A$349.0M).


Debt to Equity History and Analysis

Debt Level: PLS has more cash than its total debt.

Reducing Debt: PLS's debt to equity ratio has reduced from 61.9% to 18.2% over the past 5 years.

Debt Coverage: PLS's debt is well covered by operating cash flow (275.9%).

Interest Coverage: PLS's interest payments on its debt are well covered by EBIT (61x coverage).


Balance Sheet


Discover healthy companies

Dividend

What is Pilbara Minerals's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


3.20%

Forecast Dividend Yield

Dividend Yield vs Market

Pilbara Minerals Dividend Yield vs Market
How does Pilbara Minerals dividend yield compare to the market?
SegmentDividend Yield
Company (Pilbara Minerals)n/a
Market Bottom 25% (AU)2.8%
Market Top 25% (AU)7.2%
Industry Average (Metals and Mining)10.5%
Analyst forecast in 3 Years (Pilbara Minerals)3.2%

Notable Dividend: Unable to evaluate PLS's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate PLS's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PLS's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PLS's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as PLS has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

3.4yrs

Average management tenure


CEO

Dale Henderson

0.17yr

Tenure

AU$1,165,606

Compensation

Mr. Dale Robert Henderson, B Eng (Civil), GAICD had been Chief Operating Officer at Pilbara Minerals Limited since March 05, 2018 until July 30, 2022 and serves as its Chief Executive Officer and Managing...


CEO Compensation Analysis

Dale Henderson's Compensation vs Pilbara Minerals Earnings
How has Dale Henderson's remuneration changed compared to Pilbara Minerals's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022AU$1mAU$491k

AU$562m

Mar 31 2022n/an/a

AU$323m

Dec 31 2021n/an/a

AU$84m

Sep 30 2021n/an/a

AU$16m

Jun 30 2021AU$1mAU$375k

-AU$51m

Mar 31 2021n/an/a

-AU$54m

Dec 31 2020n/an/a

-AU$57m

Sep 30 2020n/an/a

-AU$78m

Jun 30 2020AU$754kAU$411k

-AU$99m

Mar 31 2020n/an/a

-AU$90m

Dec 31 2019n/an/a

-AU$80m

Sep 30 2019n/an/a

-AU$55m

Jun 30 2019AU$688kAU$429k

-AU$29m

Mar 31 2019n/an/a

-AU$25m

Dec 31 2018n/an/a

-AU$21m

Sep 30 2018n/an/a

-AU$20m

Jun 30 2018AU$788kAU$314k

-AU$19m

Compensation vs Market: Dale's total compensation ($USD750.99K) is below average for companies of similar size in the Australian market ($USD2.98M).

Compensation vs Earnings: Dale's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: PLS's management team is considered experienced (3.4 years average tenure).


Board Members

Experienced Board: PLS's board of directors are considered experienced (5.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: PLS insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

ASX:PLS Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
14 Sep 22SellAU$271,020Stephen ScudamoreIndividual60,000AU$4.52
12 Sep 22BuyAU$310,384Anthony KiernanIndividual69,530AU$4.55
09 Sep 22BuyAU$210,250Nicholas CernottaIndividual50,000AU$4.37
07 Sep 22SellAU$5,503,309Dale HendersonIndividual1,400,000AU$3.98
31 May 22SellAU$99,365,859AustralianSuper Pty. Ltd.Company32,902,608AU$3.02
30 May 22BuyAU$9,257,503AustralianSuper Pty. Ltd.Company3,119,513AU$2.97
19 Apr 22BuyAU$124,530,790AustralianSuper Pty. Ltd.Company32,345,657AU$3.85
19 Apr 22SellAU$218,845,869AustralianSuper Pty. Ltd.Company56,695,826AU$3.86
02 Mar 22BuyAU$102,846Miriam StanboroughIndividual36,600AU$2.81
24 Dec 21SellAU$415,588Kenneth BrinsdenIndividual147,826AU$2.93
21 Dec 21SellAU$376,500Anthony KiernanIndividual150,000AU$2.51

Ownership Breakdown

What is the ownership structure of PLS?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders8,827,5970.3%
Private Companies120,890,3724.1%
Public Companies380,141,11312.7%
Institutions723,600,78224.2%
General Public1,751,275,26358.7%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 39.54% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
6.95%
Contemporary Amperex Technology Co., Limited
207,456,142A$943.9m0%no data
5.79%
Ganfeng Lithium Co., Ltd.
172,684,971A$785.7m0%no data
5.19%
AustralianSuper Pty. Ltd.
154,787,073A$704.3m-18.43%1.91%
4.2%
The Vanguard Group, Inc.
125,242,154A$569.9m1.78%0.01%
3.33%
RCF Management, LLC
99,444,939A$452.5m0%58.34%
3.11%
Pos-Lt Pty Ltd
92,863,027A$422.5m0%no data
1.62%
Mirae Asset Global Investments Co., Ltd
48,218,684A$219.4m3.43%0.23%
1.5%
Van Eck Associates Corporation
44,712,791A$203.4m3.04%0.3%
1.42%
Norges Bank Investment Management
42,284,731A$192.4m0%0.02%
1.21%
BlackRock, Inc.
36,192,955A$164.7m-2.59%no data
0.74%
BNP Paribas Arbitrage Sa, Asset Management Arm
22,099,508A$100.6m0%0.16%
0.63%
GO ETF Solutions LLP
18,693,401A$85.1m0%0.85%
0.45%
JPMorgan Chase & Co, Brokerage and Securities Investments
13,456,566A$61.2m0%0.04%
0.4%
BetaShares Capital Limited
11,910,231A$54.2m5.51%0.48%
0.37%
J.P. Morgan Asset Management, Inc.
11,075,385A$50.4m0%0.01%
0.35%
Havelock Mining Investments Limited
10,472,890A$47.7m0%no data
0.31%
Barclays PLC Private Banking & Investment Banking Investment
9,236,811A$42.0m0%0.05%
0.3%
Xue Investments Pty Limited
8,900,000A$40.5m0%no data
0.29%
Huicen Capital Pty Limited
8,654,455A$39.4m0%no data
0.28%
State Street Global Advisors, Inc.
8,292,277A$37.7m3.02%no data
0.26%
Commonwealth Superannuation Corporation
7,860,156A$35.8m0%0.47%
0.24%
ETFS Management (AUS) Limited
7,194,402A$32.7m-10.16%2.13%
0.24%
Kenneth Brinsden
7,065,063A$32.1m5.76%no data
0.2%
abrdn plc
5,897,711A$26.8m-0.56%0.02%
0.18%
Invesco Ltd.
5,376,788A$24.5m230.52%0.01%

Company Information

Pilbara Minerals Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Pilbara Minerals Limited
  • Ticker: PLS
  • Exchange: ASX
  • Founded: 2005
  • Industry: Diversified Metals and Mining
  • Sector: Materials
  • Implied Market Cap: AU$13.581b
  • Shares outstanding: 2.98b
  • Website: https://www.pilbaraminerals.com.au

Number of Employees


Location

  • Pilbara Minerals Limited
  • 146 Colin Street
  • Level 2
  • West Perth
  • Western Australia
  • 6005
  • Australia


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PLSASX (Australian Securities Exchange)YesOrdinary SharesAUAUDJun 2013
PLSCHIA (Chi-X Australia)YesOrdinary SharesAUAUDJun 2013
PLRDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJun 2013
PILB.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJun 2013

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/28 00:00
End of Day Share Price2022/09/28 00:00
Earnings2022/06/30
Annual Earnings2022/06/30


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 here.