Anglo American plc

DB:NGLB Stock Report

Market Cap: €34.3b

Anglo American Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • 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 NGLB when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NGLB (€28.21) is trading below our estimate of fair value (€39.8)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for NGLB. This is calculated by dividing NGLB's market cap by their current revenue.
What is NGLB's PS Ratio?
PS Ratio1.2x
SalesUS$29.44b
Market CapUS$35.72b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for NGLB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.3x
BAS BASF
0.6x4.4%€38.1b
HEI Heidelberg Materials
1x4.1%€21.4b
1COV Covestro
0.8x4.2%€10.6b
SY1 Symrise
2.9x5.6%€14.3b
NGLB Anglo American
1.2x0.7%€28.4b

Price-To-Sales vs Peers: NGLB is good value based on its Price-To-Sales Ratio (1.2x) compared to the peer average (1.3x).

Price to Sales Ratio vs Industry

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

37 CompaniesPrice / SalesEstimated GrowthMarket Cap
NGLB 1.2xIndustry Avg. 0.7xNo. of Companies37PS00.81.62.43.24+
37 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: NGLB 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 NGLB'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.

NGLB PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.2x
Fair PS Ratio0.6x

Price-To-Sales vs Fair Ratio: NGLB is expensive based on its Price-To-Sales Ratio (1.2x) compared to the estimated Fair Price-To-Sales Ratio (0.6x).

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 NGLB forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€28.21
€31.26
+10.8%
14.0%€37.01€24.18n/a16
Dec ’25€29.85
€30.07
+0.7%
12.6%€36.50€24.05n/a17
Nov ’25€28.42
€29.53
+3.9%
11.1%€34.77€24.20n/a17
Oct ’25€29.26
€29.48
+0.7%
10.9%€34.99€23.98n/a17
Sep ’25€26.56
€29.83
+12.3%
11.4%€35.98€24.36n/a17
Aug ’25€27.95
€31.01
+11.0%
10.5%€36.93€25.01n/a17
Jul ’25€28.66
€31.19
+8.8%
11.3%€36.49€23.55n/a18
Jun ’25€29.57
€31.50
+6.5%
12.2%€37.48€23.67n/a17
May ’25€31.43
€28.71
-8.7%
18.1%€36.39€18.60n/a14
Apr ’25€22.56
€25.47
+12.9%
14.3%€31.63€18.73n/a19
Mar ’25€20.50
€25.40
+23.9%
14.1%€31.57€18.71n/a19
Feb ’25€22.12
€26.69
+20.7%
17.2%€39.11€18.71n/a19
Jan ’25€22.74
€26.56
+16.8%
18.8%€38.41€17.00n/a18
Dec ’24€26.54
€30.46
+14.8%
11.0%€39.06€25.50€29.8518
Nov ’24€24.22
€30.88
+27.5%
12.1%€40.04€23.71€28.4218
Oct ’24€26.44
€31.76
+20.1%
12.9%€41.28€25.85€29.2618
Sep ’24€25.04
€31.30
+25.0%
12.1%€40.18€25.48€26.5619
Aug ’24€27.74
€31.35
+13.0%
12.2%€39.69€25.17€27.9519
Jul ’24€26.22
€33.63
+28.3%
13.7%€39.95€25.97€28.6619
Jun ’24€26.90
€36.61
+36.1%
16.1%€49.58€25.95€29.5720
May ’24€27.24
€36.14
+32.7%
16.4%€48.62€25.34€31.4319
Apr ’24€30.80
€36.12
+17.3%
17.4%€47.66€25.43€22.5619
Mar ’24€34.40
€38.14
+10.9%
16.2%€48.49€29.01€20.5020
Feb ’24€38.60
€38.02
-1.5%
16.3%€48.18€28.16€22.1220
Jan ’24€36.90
€37.73
+2.3%
14.6%€46.98€29.13€22.7421
Dec ’23€38.60
€38.00
-1.6%
14.7%€47.38€26.48€26.5421

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 Analysis2024/12/27 23:18
End of Day Share Price 2024/12/27 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