Sims Management
Management criteria checks 1/4
Sims' CEO is Stephen Mikkelsen, appointed in Oct 2023, has a tenure of 2.75 years. total yearly compensation is A$5.01M, comprised of 29.4% salary and 70.6% bonuses, including company stock and options. directly owns 0.084% of the company’s shares, worth A$4.03M. The average tenure of the management team and the board of directors is 4.5 years and 2.5 years respectively.
Key information
Stephen Mikkelsen
Chief executive officer
AU$5.0m
Total compensation
| CEO salary percentage | 29.38% |
| CEO tenure | 2.8yrs |
| CEO ownership | 0.08% |
| Management average tenure | 4.5yrs |
| Board average tenure | 2.5yrs |
Recent management updates
Recent updates
Narrative Update • Jun 30
SGM: Higher FY26 EBIT Outlook Will Test Recycled Metals Recovery
Analysts have raised their Sims price target from A$25.13 to A$29.13, citing recent research that reflects higher FY26 guidance, a stronger EBIT outlook, and slightly adjusted assumptions for the discount rate, revenue growth, profit margin and future P/E. What's in the News for Sims Sims Limited upgraded its FY2026 underlying EBIT guidance to A$420 million to A$435 million, according to recent coverage of the stock.Narrative Update • Jun 16
SGM: Higher Earnings Multiple Will Pressure Future Share Price Returns
Analysts have nudged their Sims price target higher to A$25.13 from A$23.36, reflecting updated views on fair value and profitability assumptions following recent research, including the upgrade from RBC Capital. What’s in the News for Sims Analysts have revised their Sims price target to A$25.13, up from A$23.36, following refreshed research coverage.Narrative Update • Jun 02
SGM: Elevated Lifecycle Services Expectations Will Pressure Future Return Profile
Analysts have lifted their price targets on Sims, with our fair value estimate moving from A$22.78 to A$23.36 as they factor in upgraded ratings, a higher A$20 Street target, and stronger Sims Lifecycle Services EBITDA supported by higher chip prices, resale volumes, and hyperscaler service fees. Analyst Commentary Recent research updates show a shift toward a more balanced view on Sims, with price targets aligning around A$20 and greater focus on the earnings power of Sims Lifecycle Services.Narrative Update • Apr 27
SGM: Lifecycle Services Momentum And Dividend Policy Will Shape Future Return Profile
Analysts have lifted their price expectations for Sims, with targets moving from A$16.30 to A$20.00 as recent research points to stronger contributions from Sims Lifecycle Services, supported by higher computer chip prices, resale volumes and hyperscaler service fees. Analyst Commentary Bullish Takeaways Bullish analysts point to the 130% increase in Sims Lifecycle Services EBITDA as a key support for higher valuation targets, given the clearer earnings contribution from this segment.Narrative Update • Apr 12
SGM: Lifecycle Services Strength And Dividend Outlook Will Support Future Upside
Analysts have lifted their price target for Sims to A$22.78 from A$22.61, citing recent upgrades and research that highlight stronger Sims Lifecycle Services earnings tied to higher chip prices, resale volumes, and hyperscaler service fees, along with updated assumptions on discount rates, revenue growth, profit margins, and future P/E. Analyst Commentary Bullish Takeaways Bullish analysts point to the upgrade in Sims Lifecycle Services EBITDA of 130% in the recent first half as a key support for higher earnings assumptions, particularly for the chip reuse and resale part of the business.Narrative Update • Mar 27
SGM: Lifecycle Services EBITDA Surge Will Support Future Upside Potential
Analysts have lifted their price targets for Sims. One recent move took the stock from A$16.30 to A$20, citing improved fair value estimates, a more supportive discount rate and growth assumptions, healthier profit margins, and stronger Sims Lifecycle Services EBITDA tied to higher chip prices, resale volumes, and hyperscaler service fees.Narrative Update • Mar 12
SGM: Lifecycle Services Strength And Investor Days Will Support Future Upside
Analysts have nudged their price target for Sims higher, with fair value moving from about A$20.45 to roughly A$20.74. This reflects updated assumptions on discount rate, revenue growth, profit margins and future P/E after recent research highlighted stronger Sims Lifecycle Services EBITDA supported by higher chip prices, resale volumes and hyperscaler service fees.
New Narrative • Mar 03
Rally in sustainable practices over value recyclable metal stock
About Sims Metal Management Sims Limited is a global metals recycler and circular economy operator with processing facilities across Australia, North America, and Europe. The company collects, sorts, and sells recycled ferrous (steel-based) and non-ferrous (aluminium, copper) scrap metal to steelmakers and smelters worldwide.Narrative Update • Feb 25
SGM: Investor Days And Rich Future P/E Will Restrain Share Upside
Analysts have lifted their price target for Sims from A$18.09 to A$20.45, citing slightly different assumptions on discount rate, revenue growth, profit margin and future P/E to support the new view. What's in the News Sims Limited determined an interim dividend of A$0.14 per share, fully franked, with payment scheduled for 18 March 2026 to shareholders on the register as at 4 March 2026 (company announcement).Analysis Article • Feb 15
An Intrinsic Calculation For Sims Limited (ASX:SGM) Suggests It's 34% Undervalued
Key Insights Using the 2 Stage Free Cash Flow to Equity, Sims fair value estimate is AU$31.78 Sims is estimated to be...Narrative Update • Feb 11
SGM: Investor Day Focus Will Highlight Rich P/E Capping Future Returns
The analyst price target for Sims has increased from A$16.71 to A$18.09. Analysts attribute this change to updated assumptions that include slightly higher revenue growth, modestly improved profit margins and a lower future P/E multiple as key drivers.Narrative Update • Jan 26
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).Narrative Update • Jan 11
SGM: Stable Margins And Investor Day Focus Will Likely Restrain Returns
Analysts have maintained their fair value estimate for Sims at A$16.02 per share. Only slight adjustments to the discount rate and the assumed future P/E ratio have influenced this unchanged price target.Narrative Update • Dec 26
SGM: Stable Margins And Sluggish Outlook Will Likely Limit Future Returns
Analysts have modestly maintained their outlook on Sims, keeping the price target effectively unchanged at $16.02 per share. Slightly higher discount rate assumptions are largely offset by stable revenue growth, profit margin, and valuation expectations.Narrative Update • Dec 12
SGM: Modest Earnings Outlook Will Likely Constrain Future Share Price Upside
Analysts have modestly raised their price target on Sims, citing slightly stronger long term revenue growth, improved margin expectations, and a higher forward P/E outlook. This lifts the fair value by approximately $0.69 per share.Narrative Update • Nov 27
SGM: Rising Discount Rate Will Challenge Market Expectations Moving Forward
Analysts have increased their price target for Sims from $14.08 to $15.33 per share. They cite modest improvements in both expected profit margins and revenue growth projections.Analysis Article • Apr 09
Are Investors Undervaluing Sims Limited (ASX:SGM) By 50%?
Key Insights The projected fair value for Sims is AU$25.48 based on 2 Stage Free Cash Flow to Equity Current share...Analysis Article • Mar 18
There's No Escaping Sims Limited's (ASX:SGM) Muted Revenues
With a price-to-sales (or "P/S") ratio of 0.4x Sims Limited ( ASX:SGM ) may be sending very bullish signals at the...
New Narrative • Feb 09
Optimization Of Acquisitions Like Baltimore Scrap Will Unlock Future Operational Efficiencies
Strategic focus on North America and optimizing recent acquisitions aim to drive margin improvement and operational efficiencies.Analysis Article • Dec 20
Sims (ASX:SGM) Is Carrying A Fair Bit Of Debt
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Analysis Article • Nov 07
A Look At The Fair Value Of Sims Limited (ASX:SGM)
Key Insights Using the 2 Stage Free Cash Flow to Equity, Sims fair value estimate is AU$15.42 With AU$13.66 share...Analysis Article • Sep 16
There Is A Reason Sims Limited's (ASX:SGM) Price Is Undemanding
You may think that with a price-to-sales (or "P/S") ratio of 0.3x Sims Limited ( ASX:SGM ) is definitely a stock worth...Analysis Article • May 07
Sims Limited's (ASX:SGM) Subdued P/E Might Signal An Opportunity
When close to half the companies in Australia have price-to-earnings ratios (or "P/E's") above 20x, you may consider...Analysis Article • Feb 24
Sims (ASX:SGM) Is Carrying A Fair Bit Of Debt
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Analysis Article • Dec 22
Is Sims Limited (ASX:SGM) Trading At A 30% Discount?
Key Insights Using the 2 Stage Free Cash Flow to Equity, Sims fair value estimate is AU$22.11 Current share price of...Analysis Article • Sep 28
Sims' (ASX:SGM) Shareholders Will Receive A Smaller Dividend Than Last Year
Sims Limited ( ASX:SGM ) is reducing its dividend from last year's comparable payment to A$0.21 on the 18th of October...Analysis Article • Sep 11
These 4 Measures Indicate That Sims (ASX:SGM) Is Using Debt Extensively
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Analysis Article • Aug 18
Sims' (ASX:SGM) Dividend Is Being Reduced To A$0.21
Sims Limited ( ASX:SGM ) is reducing its dividend from last year's comparable payment to A$0.21 on the 18th of October...Analysis Article • Jul 12
Sims (ASX:SGM) Will Want To Turn Around Its Return Trends
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Amongst other things...Analysis Article • May 26
Do Sims' (ASX:SGM) Earnings Warrant Your Attention?
It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...Analysis Article • Apr 12
Sims (ASX:SGM) Might Be Having Difficulty Using Its Capital Effectively
If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...Analysis Article • Mar 30
Does Sims (ASX:SGM) Have A Healthy Balance Sheet?
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Analysis Article • Mar 15
Calculating The Fair Value Of Sims Limited (ASX:SGM)
Key Insights The projected fair value for Sims is AU$13.48 based on 2 Stage Free Cash Flow to Equity Sims' AU$14.93...CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Dec 31 2025 | n/a | n/a | -AU$58m |
| Sep 30 2025 | n/a | n/a | -AU$28m |
| Jun 30 2025 | AU$5m | AU$1m | AU$2m |
| Dec 31 2024 | n/a | n/a | -AU$65m |
| Sep 30 2024 | n/a | n/a | -AU$32m |
| Jun 30 2024 | AU$3m | AU$1m | AU$2m |
| Dec 31 2023 | n/a | n/a | AU$194m |
| Sep 30 2023 | n/a | n/a | AU$195m |
| Jun 30 2023 | AU$2m | AU$1m | AU$197m |
| Mar 31 2023 | n/a | n/a | AU$314m |
| Dec 31 2022 | n/a | n/a | AU$447m |
| Sep 30 2022 | n/a | n/a | AU$523m |
| Jun 30 2022 | AU$5m | AU$1m | AU$599m |
| Mar 31 2022 | n/a | n/a | AU$514m |
| Dec 31 2021 | n/a | n/a | AU$430m |
| Sep 30 2021 | n/a | n/a | AU$330m |
| Jun 30 2021 | AU$4m | AU$1m | AU$229m |
| Mar 31 2021 | n/a | n/a | AU$54m |
| Dec 31 2020 | n/a | n/a | -AU$121m |
| Sep 30 2020 | n/a | n/a | -AU$193m |
| Jun 30 2020 | AU$2m | AU$1m | -AU$265m |
Compensation vs Market: Stephen's total compensation ($USD3.48M) is above average for companies of similar size in the Australian market ($USD2.22M).
Compensation vs Earnings: Stephen's compensation has increased whilst the company is unprofitable.
CEO
Stephen Mikkelsen (62 yo)
2.8yrs
Tenure
AU$5,012,531
Compensation
Mr. Stephen John Mikkelsen, BBS, CA, serves as Independent Non-Executive Director of Origin Energy Limited since August 18, 2025. He serves as Group Chief Executive Officer and Managing Director of Sims Li...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Group CEO | 2.8yrs | AU$5.01m | 0.084% A$ 4.1m | |
| Group Chief Financial Officer | 2.6yrs | AU$3.23m | no data | |
| Executive Officer | 8.9yrs | AU$2.89m | 0.11% A$ 5.4m | |
| President of Global Sims Metal | 4yrs | AU$2.84m | 0.015% A$ 737.3k | |
| Group Chief Technology Officer | less than a year | no data | no data | |
| Group General Counsel & Company Secretary | 7.7yrs | no data | no data | |
| Global Head of Communications & Marketing | no data | no data | no data | |
| Group Chief Human Resources Officer | 8.5yrs | no data | no data | |
| Chief Financial & Sustainability Officer - SLS | no data | no data | no data | |
| Joint Company Secretary | 5yrs | no data | no data | |
| Assistant Company Secretary | no data | no data | no data |
4.5yrs
Average Tenure
Experienced Management: SGM's management team is considered experienced (4.5 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Group CEO | 2.8yrs | AU$5.01m | 0.084% A$ 4.1m | |
| Independent Non-Executive Director | 1.6yrs | AU$80.09k | 0.0039% A$ 190.3k | |
| Independent Non-Executive Director | 2.8yrs | AU$258.89k | 0.0052% A$ 255.4k | |
| Independent Non-Executive Director | 4.8yrs | AU$261.08k | 0.0040% A$ 194.7k | |
| Independent Chairman of the Board | 3.8yrs | AU$493.33k | 0.016% A$ 793.1k | |
| Independent Non-Executive Director | 2.3yrs | AU$242.73k | no data | |
| Non-Independent Non-Executive Director | 1.7yrs | AU$152.17k | no data | |
| Independent Non-Executive Director | less than a year | no data | no data |
2.5yrs
Average Tenure
66yo
Average Age
Experienced Board: SGM's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/06 11:36 |
| End of Day Share Price | 2026/07/06 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
Sims Limited is covered by 30 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.
| Analyst | Institution |
|---|---|
| Benjamin Brayshaw | Barrenjoey Markets Pty Limited |
| Megan Kirby-Lewis | Barrenjoey Markets Pty Limited |
| April Lowis | Barrenjoey Markets Pty Limited |