Sandfire Resources Limited

DB:S2Z Stock Report

Market Cap: €4.0b

Sandfire Resources Valuation

Is S2Z 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 S2Z when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

€14.55
Fair Value
41.3% undervalued intrinsic discount
13
Number of Analysts

Below Fair Value: S2Z (€8.55) is trading below our estimate of fair value (€14.55)

Significantly Below Fair Value: S2Z is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for S2Z?

Key metric: As S2Z is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for S2Z. This is calculated by dividing S2Z's market cap by their current earnings.
What is S2Z's PE Ratio?
PE Ratio49.6x
EarningsUS$93.25m
Market CapUS$4.63b

Price to Earnings Ratio vs Peers

How does S2Z's PE Ratio compare to its peers?

The above table shows the PE ratio for S2Z vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.8x
NDA Aurubis
7.7x-26.56%€4.7b
FPE3 Fuchs
17.9x7.70%€4.6b
WCH Wacker Chemie
25x24.48%€3.4b
EVK Evonik Industries
16.5x12.43%€7.0b
S2Z Sandfire Resources
49.6x22.26%€7.1b

Price-To-Earnings vs Peers: S2Z is expensive based on its Price-To-Earnings Ratio (49.6x) compared to the peer average (16.8x).

Price to Earnings Ratio vs Industry

How does S2Z's PE Ratio compare vs other companies in the European Metals and Mining Industry?

17 CompaniesPrice / EarningsEstimated GrowthMarket Cap
S2Z 49.6xIndustry Avg. 16.3xNo. of Companies17PE01020304050+
17 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: S2Z is expensive based on its Price-To-Earnings Ratio (49.6x) compared to the European Metals and Mining industry average (15.7x).

Price to Earnings Ratio vs Fair Ratio

What is S2Z'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.

S2Z PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio49.6x
Fair PE Ratio25.6x

Price-To-Earnings vs Fair Ratio: S2Z is expensive based on its Price-To-Earnings Ratio (49.6x) compared to the estimated Fair Price-To-Earnings Ratio (25.6x).

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 S2Z forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€8.55
€7.64
-10.64%
12.03%€9.22€6.17n/a13
Oct ’26€8.00
€6.80
-15.06%
12.12%€7.89€4.71n/a13
Sep ’26€6.95
€6.64
-4.43%
11.02%€7.47€4.67n/a13
Aug ’26€6.20
€6.46
+4.14%
9.97%€7.51€4.66n/a13
Jul ’26€6.15
€6.22
+1.17%
13.26%€7.09€3.77n/a13
Jun ’26€6.45
€6.22
-3.52%
12.99%€7.36€3.83n/a13
May ’26€5.60
€6.13
+9.43%
12.22%€7.38€3.93n/a14
Apr ’26€6.00
€6.32
+5.31%
6.69%€6.98€5.38n/a15
Mar ’26€6.30
€6.43
+2.13%
6.39%€7.18€5.53n/a15
Feb ’26€6.00
€6.33
+5.45%
6.31%€7.19€5.40n/a15
Jan ’26€5.60
€6.37
+13.67%
7.75%€7.27€5.45n/a15
Dec ’25€6.35
€6.41
+0.96%
9.31%€7.37€4.92n/a15
Nov ’25€6.20
€6.28
+1.32%
9.39%€7.27€4.84n/a15
Oct ’25€6.65
€5.94
-10.63%
14.89%€7.15€3.43€8.0016
Sep ’25€5.25
€5.83
+10.96%
14.53%€7.04€3.37€6.9516
Aug ’25€5.35
€5.71
+6.69%
14.77%€6.93€3.32€6.2016
Jul ’25€5.30
€5.87
+10.67%
16.38%€7.13€3.42€6.1516
Jun ’25€5.65
€5.73
+1.43%
17.93%€7.05€3.38€6.4516
May ’25€5.70
€5.48
-3.78%
16.88%€6.69€3.35€5.6016
Apr ’25€5.25
€4.69
-10.65%
12.89%€6.03€3.33€6.0016
Mar ’25€4.42
€4.48
+1.37%
10.68%€5.13€3.32€6.3016
Feb ’25€4.25
€4.54
+6.74%
8.89%€5.15€3.84€6.0015
Jan ’25€4.37
€4.19
-4.04%
10.65%€5.18€3.31€5.6015
Dec ’24€3.67
€4.14
+12.70%
11.05%€5.13€3.28€6.3515
Nov ’24€3.50
€4.08
+16.64%
11.53%€5.07€3.24€6.2015
Oct ’24€3.67
€4.11
+11.84%
9.59%€4.71€3.28€6.6515
€7.56
Fair Value
13.2% overvalued intrinsic discount
13
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 Analysis2025/10/23 11:16
End of Day Share Price 2025/10/23 00:00
Earnings2025/06/30
Annual Earnings2025/06/30

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.

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

Sandfire Resources Limited is covered by 31 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.

AnalystInstitution
Mollie UrquhartBarrenjoey Markets Pty Limited
Daniel MorganBarrenjoey Markets Pty Limited
Aryan NoroziBarrenjoey Markets Pty Limited