Pilbara Minerals Limited

CHIA:PLS Stock Report

Market Cap: AU$6.7b

Pilbara Minerals 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

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

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$2.22) is trading above our estimate of fair value (A$0.67)

Significantly Below Fair Value: PLS is trading above our estimate of fair value.

Key Valuation Metric

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

Key metric: As PLS is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for PLS. This is calculated by dividing PLS's market cap by their current earnings.
What is PLS's PE Ratio?
PE Ratio25.9x
EarningsAU$256.88m
Market CapAU$6.66b

Price to Earnings Ratio vs Peers

How does PLS's PE Ratio compare to its 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.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average39.2x
NIC Nickel Industries
22.2x48.0%AU$3.5b
MIN Mineral Resources
54.2x40.7%AU$6.7b
LYC Lynas Rare Earths
72.2x43.6%AU$6.0b
ILU Iluka Resources
8x2.7%AU$2.2b
PLS Pilbara Minerals
25.9x29.4%AU$6.7b

Price-To-Earnings vs Peers: PLS is good value based on its Price-To-Earnings Ratio (25.9x) compared to the peer average (39.2x).

Price to Earnings Ratio vs Industry

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

10 CompaniesPrice / EarningsEstimated GrowthMarket Cap
KCN Kingsgate Consolidated
1.7x-13.3%US$205.90m
RHI Red Hill Minerals
1.7xn/aUS$163.85m
GRR Grange Resources
2.4xn/aUS$158.28m
PTN Patronus Resources
1.9xn/aUS$49.88m
PLS 25.9xIndustry Avg. 12.7xNo. of Companies12PE01224364860+
10 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PLS is expensive based on its Price-To-Earnings Ratio (25.9x) compared to the Australian Metals and Mining industry average (12.8x).

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 Ratio25.9x
Fair PE Ratio28.4x

Price-To-Earnings vs Fair Ratio: PLS is good value based on its Price-To-Earnings Ratio (25.9x) compared to the estimated Fair Price-To-Earnings Ratio (28.4x).

Analyst Price Targets

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

The above table shows the analyst PLS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$2.22
AU$3.03
+36.6%
15.6%AU$4.00AU$2.40n/a15
Dec ’25AU$2.39
AU$3.10
+29.8%
14.0%AU$4.00AU$2.40n/a14
Nov ’25AU$2.85
AU$3.09
+8.5%
14.2%AU$4.00AU$2.35n/a14
Oct ’25AU$3.28
AU$3.15
-3.9%
17.1%AU$4.00AU$2.00n/a14
Sep ’25AU$2.97
AU$3.28
+10.4%
19.3%AU$4.59AU$2.20n/a15
Aug ’25AU$3.05
AU$3.25
+6.6%
18.2%AU$4.59AU$2.40n/a18
Jul ’25AU$3.08
AU$3.46
+12.2%
16.3%AU$4.59AU$2.50n/a18
Jun ’25AU$3.78
AU$3.77
-0.4%
14.5%AU$4.59AU$2.70n/a18
May ’25AU$4.08
AU$3.76
-7.8%
14.5%AU$4.59AU$2.70n/a18
Apr ’25AU$3.84
AU$3.74
-2.5%
14.3%AU$4.59AU$2.60n/a18
Mar ’25AU$4.38
AU$3.72
-15.1%
15.9%AU$4.59AU$2.50n/a18
Feb ’25AU$3.45
AU$3.72
+7.9%
14.6%AU$4.60AU$2.75n/a17
Jan ’25AU$3.95
AU$4.08
+3.5%
19.8%AU$6.12AU$2.85AU$2.2218
Dec ’24AU$3.62
AU$4.42
+22.0%
23.1%AU$7.10AU$3.05AU$2.3917
Nov ’24AU$3.62
AU$4.55
+25.6%
20.7%AU$7.10AU$3.15AU$2.8517
Oct ’24AU$4.29
AU$5.04
+17.6%
18.1%AU$7.10AU$3.45AU$3.2817
Sep ’24AU$4.70
AU$5.09
+8.3%
17.8%AU$7.30AU$3.50AU$2.9717
Aug ’24AU$4.87
AU$5.14
+5.6%
18.7%AU$7.30AU$3.10AU$3.0517
Jul ’24AU$4.90
AU$4.83
-1.5%
20.7%AU$7.30AU$3.00AU$3.0817
Jun ’24AU$4.31
AU$4.55
+5.6%
24.1%AU$7.70AU$3.00AU$3.7816
May ’24AU$4.10
AU$4.54
+10.8%
24.0%AU$7.70AU$3.00AU$4.0816
Apr ’24AU$3.95
AU$4.96
+25.5%
22.3%AU$7.70AU$3.10AU$3.8414
Mar ’24AU$4.23
AU$4.78
+13.1%
24.6%AU$7.70AU$3.01AU$4.3814
Feb ’24AU$4.79
AU$4.80
+0.2%
23.5%AU$7.50AU$3.01AU$3.4514
Jan ’24AU$3.77
AU$4.46
+18.4%
27.7%AU$7.50AU$2.60AU$3.9514

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/02 02:09
End of Day Share Price 2025/01/02 00:00
Earnings2024/06/30
Annual Earnings2024/06/30

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 here.

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 .

Analyst Sources

Pilbara Minerals Limited is covered by 34 analysts. 18 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Russell WrightBarclay Pearce Capital Pty Limited
Glyn LawcockBarrenjoey Markets Pty Limited
Josh KannourakisBarrenjoey Markets Pty Limited