Anglo American plc

SWX:AAM Stock Report

Market Cap: CHF 34.7b

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.

CHF 35.78
Fair Value
26.2% undervalued intrinsic discount
14
Number of Analysts

Below Fair Value: AAM (CHF26.4) is trading below our estimate of fair value (CHF35.78)

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 Ratio1.6x
SalesUS$26.66b
Market CapUS$43.14b

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 Average2.6x
HOLN Holcim
1.4x-7.08%CHF 35.8b
GIVN Givaudan
4.1x4.22%CHF 31.1b
SIKA Sika
2.4x4.11%CHF 27.7b
AMRZ Amrize
2.3x4.98%CHF 21.3b
AAM Anglo American
1.6x-3.14%CHF 32.4b

Price-To-Sales vs Peers: AAM is good value based on its Price-To-Sales Ratio (1.6x) compared to the peer average (2.5x).

Price to Sales Ratio vs Industry

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

58 CompaniesPrice / SalesEstimated GrowthMarket Cap
AAM 1.6xIndustry Avg. 0.7xNo. of Companies58PS01.63.24.86.48+
58 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: AAM is expensive based on its Price-To-Sales Ratio (1.6x) 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 Ratio1.6x
Fair PS Ratio3.4x

Price-To-Sales vs Fair Ratio: AAM is good value based on its Price-To-Sales Ratio (1.6x) compared to the estimated Fair Price-To-Sales Ratio (3.4x).

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 26.40
CHF 30.15
+14.19%
16.08%CHF 37.58CHF 20.86n/a14
Oct ’26CHF 26.40
CHF 26.99
+2.24%
15.25%CHF 32.41CHF 20.67n/a15
Sep ’26CHF 20.00
CHF 24.49
+22.47%
13.78%CHF 29.77CHF 20.26n/a16
Aug ’26CHF 24.60
CHF 24.46
-0.57%
14.18%CHF 29.36CHF 19.70n/a16
Jul ’26CHF 24.60
CHF 25.29
+2.82%
11.32%CHF 29.54CHF 20.90n/a15
Jun ’26CHF 22.60
CHF 29.09
+28.70%
12.62%CHF 34.74CHF 24.13n/a15
May ’26CHF 21.20
CHF 29.47
+38.99%
12.86%CHF 35.08CHF 24.09n/a16
Apr ’26CHF 28.20
CHF 32.59
+15.58%
14.63%CHF 38.93CHF 25.95n/a16
Mar ’26CHF 28.20
CHF 32.82
+16.39%
14.94%CHF 38.92CHF 25.60n/a16
Feb ’26CHF 27.80
CHF 32.78
+17.90%
13.65%CHF 39.10CHF 25.73n/a16
Jan ’26CHF 27.40
CHF 33.03
+20.55%
13.92%CHF 38.80CHF 25.61n/a16
Dec ’25CHF 28.00
CHF 31.79
+13.54%
12.49%CHF 38.23CHF 25.44n/a17
Nov ’25CHF 27.60
CHF 31.45
+13.96%
11.12%CHF 37.03CHF 25.78n/a17
Oct ’25CHF 22.80
CHF 31.35
+37.51%
10.92%CHF 37.22CHF 25.50CHF 26.4017
Sep ’25CHF 25.00
CHF 31.78
+27.11%
11.45%CHF 38.32CHF 25.95CHF 20.0017
Aug ’25CHF 25.00
CHF 33.20
+32.79%
10.50%CHF 39.53CHF 26.77CHF 24.6017
Jul ’25CHF 28.20
CHF 34.33
+21.75%
11.30%CHF 40.17CHF 25.93CHF 24.6018
Jun ’25CHF 28.20
CHF 35.01
+24.14%
12.20%CHF 41.65CHF 26.30CHF 22.6017
May ’25CHF 28.60
CHF 32.03
+12.00%
18.11%CHF 40.60CHF 20.76CHF 21.2014
Apr ’25CHF 20.80
CHF 28.13
+35.26%
14.29%CHF 34.94CHF 20.69CHF 28.2019
Mar ’25CHF 20.00
CHF 27.57
+37.84%
14.10%CHF 34.26CHF 20.30CHF 28.2019
Feb ’25CHF 20.40
CHF 28.26
+38.51%
17.25%CHF 41.40CHF 19.80CHF 27.8019
Jan ’25CHF 20.80
CHF 28.18
+35.47%
18.75%CHF 40.75CHF 18.04CHF 27.4018
Dec ’24CHF 25.00
CHF 32.72
+30.88%
11.02%CHF 41.97CHF 27.40CHF 28.0018
Nov ’24CHF 22.20
CHF 33.56
+51.16%
12.07%CHF 43.52CHF 25.77CHF 27.6018
Oct ’24CHF 25.40
CHF 34.86
+37.23%
12.87%CHF 45.30CHF 28.37CHF 22.8018
CHF 24.75
Fair Value
6.7% overvalued intrinsic discount
14
Number of Analysts

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/13 20:04
End of Day Share Price 2025/10/13 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

Anglo American plc is covered by 37 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Wade NapierAvior Capital Markets
Izak RossouwBarclays
Richard HatchBerenberg