Anglo American plc

SWX:AAM Stock Report

Market Cap: CHF 32.6b

Anglo American Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: AAM (CHF27.4) is trading below our estimate of fair value (CHF39.39)

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

Key Valuation Metric

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

Key metric: As AAM is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for AAM. This is calculated by dividing AAM's market cap by their current revenue.
What is AAM's PS Ratio?
PS Ratio1.2x
SalesUS$29.44b
Market CapUS$35.74b

Price to Sales Ratio vs Peers

How does AAM's PS Ratio compare to its peers?

The above table shows the PS ratio for AAM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average4.2x
GIVN Givaudan
5.1x5.1%CHF 36.6b
SIKA Sika
3x5.0%CHF 34.6b
HOLN Holcim
1.8x3.9%CHF 49.1b
EMSN EMS-CHEMIE HOLDING
6.8x4.7%CHF 14.3b
AAM Anglo American
1.2x1.2%CHF 28.9b

Price-To-Sales vs Peers: AAM is good value based on its Price-To-Sales Ratio (1.2x) compared to the peer average (4.2x).

Price to Sales Ratio vs Industry

How does AAM's PS Ratio compare vs other companies in the European Metals and Mining Industry?

33 CompaniesPrice / SalesEstimated GrowthMarket Cap
AAM 1.2xIndustry Avg. 0.7xNo. of Companies33PS00.81.62.43.24+
33 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: AAM is expensive based on its Price-To-Sales Ratio (1.2x) compared to the European Metals and Mining industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

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

AAM PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.2x
Fair PS Ratio1.4x

Price-To-Sales vs Fair Ratio: AAM is good value based on its Price-To-Sales Ratio (1.2x) compared to the estimated Fair Price-To-Sales Ratio (1.4x).

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 AAM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 27.40
CHF 29.12
+6.3%
14.0%CHF 34.49CHF 22.53n/a16
Dec ’25CHF 28.00
CHF 28.01
+0.05%
12.6%CHF 34.00CHF 22.40n/a17
Nov ’25CHF 27.60
CHF 27.70
+0.4%
11.1%CHF 32.62CHF 22.70n/a17
Oct ’25CHF 22.80
CHF 27.61
+21.1%
10.9%CHF 32.78CHF 22.46n/a17
Sep ’25CHF 25.00
CHF 27.99
+11.9%
11.4%CHF 33.75CHF 22.85n/a17
Aug ’25CHF 25.00
CHF 29.24
+17.0%
10.5%CHF 34.81CHF 23.58n/a17
Jul ’25CHF 28.20
CHF 30.24
+7.2%
11.3%CHF 35.38CHF 22.84n/a18
Jun ’25CHF 28.20
CHF 30.83
+9.3%
12.2%CHF 36.68CHF 23.17n/a17
May ’25CHF 28.60
CHF 28.21
-1.4%
18.1%CHF 35.76CHF 18.28n/a14
Apr ’25CHF 20.80
CHF 24.78
+19.1%
14.3%CHF 30.78CHF 18.22n/a19
Mar ’25CHF 20.00
CHF 24.28
+21.4%
14.1%CHF 30.18CHF 17.88n/a19
Feb ’25CHF 20.40
CHF 24.89
+22.0%
17.2%CHF 36.47CHF 17.44n/a19
Jan ’25CHF 20.80
CHF 24.82
+19.3%
18.8%CHF 35.89CHF 15.89CHF 27.4018
Dec ’24CHF 25.00
CHF 29.03
+16.1%
11.0%CHF 37.23CHF 24.30CHF 28.0018
Nov ’24CHF 22.20
CHF 29.56
+33.1%
12.1%CHF 38.33CHF 22.70CHF 27.6018
Oct ’24CHF 25.40
CHF 30.70
+20.9%
12.9%CHF 39.90CHF 24.99CHF 22.8018
Sep ’24CHF 22.80
CHF 30.00
+31.6%
12.1%CHF 38.51CHF 24.42CHF 25.0019
Aug ’24CHF 26.80
CHF 30.13
+12.4%
12.2%CHF 38.16CHF 24.20CHF 25.0019
Jul ’24CHF 25.00
CHF 32.84
+31.4%
13.7%CHF 39.02CHF 25.36CHF 28.2019
Jun ’24CHF 25.20
CHF 35.70
+41.7%
16.1%CHF 48.33CHF 25.30CHF 28.2020
May ’24CHF 25.00
CHF 35.53
+42.1%
16.4%CHF 47.81CHF 24.91CHF 28.6019
Apr ’24CHF 30.00
CHF 35.84
+19.5%
17.4%CHF 47.29CHF 25.24CHF 20.8019
Mar ’24CHF 37.00
CHF 38.22
+3.3%
16.2%CHF 48.59CHF 29.07CHF 20.0020
Feb ’24CHF 36.00
CHF 37.96
+5.4%
16.3%CHF 48.10CHF 28.11CHF 20.4020
Jan ’24CHF 36.00
CHF 37.39
+3.9%
14.6%CHF 46.55CHF 28.87CHF 20.8021

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/03 09:42
End of Day Share Price 2024/12/30 00:00
Earnings2024/06/30
Annual Earnings2023/12/31

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

Anglo American plc is covered by 56 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Varun SikkaAlphaValue
Johann PretoriusAuerbach Grayson
Wade NapierAvior Capital Markets