Anglo American plc

BATS-CHIXE:AALL Stock Report

Market Cap: UK£30.8b

Anglo American Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

UK£45.77
Fair Value
37.6% undervalued intrinsic discount
14
Number of Analysts

Below Fair Value: AALL (£28.55) is trading below our estimate of fair value (£45.77)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for AALL. This is calculated by dividing AALL's market cap by their current revenue.
What is AALL's PS Ratio?
PS Ratio1.5x
SalesUS$26.66b
Market CapUS$40.63b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for AALL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.5x
GLEN Glencore
0.2x0.91%UK£42.3b
RIO Rio Tinto Group
2.2x2.35%UK£92.8b
ANTO Antofagasta
4.8x7.22%UK£27.3b
FRES Fresnillo
6.7x8.66%UK£20.1b
AALL Anglo American
1.5x-2.87%UK£30.8b

Price-To-Sales vs Peers: AALL is good value based on its Price-To-Sales Ratio (1.5x) compared to the peer average (3.5x).

Price to Sales Ratio vs Industry

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

23 CompaniesPrice / SalesEstimated GrowthMarket Cap
GLEN Glencore
0.2x0.91%US$55.78b
ENPL En+ Group International
0.3x1.57%US$4.67b
NLMK Novolipetsk Steel
0.3xn/aUS$4.08b
EVR EVRAZ
0.1x-8.51%US$1.42b
No. of Companies23PS048121620+
23 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: AALL is good value based on its Price-To-Sales Ratio (1.5x) compared to the UK Metals and Mining industry average (2.6x).

Price to Sales Ratio vs Fair Ratio

What is AALL'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.

AALL PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.5x
Fair PS Ratio4.1x

Price-To-Sales vs Fair Ratio: AALL is good value based on its Price-To-Sales Ratio (1.5x) compared to the estimated Fair Price-To-Sales Ratio (4.1x).

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 AALL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£28.55
UK£29.07
+1.81%
14.47%UK£35.36UK£20.62n/a14
Nov ’26UK£28.81
UK£28.69
-0.43%
14.05%UK£35.54UK£20.89n/a14
Oct ’26UK£27.85
UK£24.81
-10.89%
15.32%UK£30.16UK£19.30n/a15
Sep ’26UK£22.52
UK£22.62
+0.44%
13.76%UK£27.48UK£18.70n/a16
Aug ’26UK£20.59
UK£22.91
+11.26%
14.18%UK£27.49UK£18.45n/a16
Jul ’26UK£21.76
UK£23.23
+6.76%
11.32%UK£27.14UK£19.20n/a15
Jun ’26UK£25.21
UK£26.24
+4.10%
12.62%UK£31.34UK£21.76n/a15
May ’26UK£23.82
UK£26.75
+12.29%
12.86%UK£31.85UK£21.87n/a16
Apr ’26UK£24.31
UK£28.52
+17.31%
14.63%UK£34.07UK£22.71n/a16
Mar ’26UK£26.67
UK£28.90
+8.35%
14.94%UK£34.26UK£22.54n/a16
Feb ’26UK£26.93
UK£29.04
+7.81%
13.65%UK£34.64UK£22.80n/a16
Jan ’26UK£26.89
UK£29.41
+9.40%
13.92%UK£34.55UK£22.81n/a16
Dec ’25UK£28.55
UK£28.33
-0.76%
12.49%UK£34.07UK£22.67UK£28.8917
Nov ’25UK£27.29
UK£27.87
+2.14%
11.12%UK£32.82UK£22.84UK£28.8117
Oct ’25UK£27.75
UK£27.90
+0.53%
10.92%UK£33.12UK£22.69UK£27.8517
Sep ’25UK£24.88
UK£28.49
+14.52%
11.45%UK£34.37UK£23.27UK£22.5217
Aug ’25UK£26.22
UK£29.82
+13.73%
10.50%UK£35.51UK£24.05UK£20.5917
Jul ’25UK£27.62
UK£30.07
+8.88%
11.30%UK£35.18UK£22.71UK£21.7618
Jun ’25UK£28.32
UK£30.45
+7.52%
12.20%UK£36.22UK£22.88UK£25.2117
May ’25UK£29.91
UK£27.89
-6.73%
18.11%UK£35.36UK£18.08UK£23.8214
Apr ’25UK£22.14
UK£24.72
+11.64%
14.29%UK£30.70UK£18.17UK£24.3119
Mar ’25UK£20.01
UK£24.70
+23.44%
14.10%UK£30.69UK£18.19UK£26.6719
Feb ’25UK£21.24
UK£25.84
+21.67%
17.25%UK£37.87UK£18.11UK£26.9319
Jan ’25UK£22.49
UK£26.22
+16.58%
18.75%UK£37.91UK£16.78UK£26.8918
Dec ’24UK£26.13
UK£29.62
+13.36%
11.02%UK£37.98UK£24.80UK£28.5518
UK£29.06
Fair Value
1.7% undervalued intrinsic discount
14
Number of Analysts

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 Analysis2025/12/02 12:20
End of Day Share Price 2025/12/02 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 38 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
Izak RossouwBarclays