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GLEN

Glencore LSE:GLEN Stock Report

Last Price

UK£4.78

Market Cap

UK£62.7b

7D

3.6%

1Y

36.3%

Updated

30 Sep, 2022

Data

Company Financials +
GLEN fundamental analysis
Snowflake Score
Valuation6/6
Future Growth0/6
Past Performance6/6
Financial Health5/6
Dividends4/6

GLEN Stock Overview

Glencore plc produces, refines, processes, stores, transports, and markets metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania.

Glencore Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Glencore
Historical stock prices
Current Share PriceUK£4.78
52 Week HighUK£5.48
52 Week LowUK£3.44
Beta1.45
1 Month Change1.03%
3 Month Change12.15%
1 Year Change36.34%
3 Year Change110.96%
5 Year Change30.32%
Change since IPO-9.78%

Recent News & Updates

Sep 30
Glencore (LON:GLEN) Is Achieving High Returns On Its Capital

Glencore (LON:GLEN) Is Achieving High Returns On Its Capital

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...

Aug 12
Does Glencore (LON:GLEN) Deserve A Spot On Your Watchlist?

Does Glencore (LON:GLEN) Deserve A Spot On Your Watchlist?

The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...

Shareholder Returns

GLENGB Metals and MiningGB Market
7D3.6%-0.5%-4.1%
1Y36.3%-7.1%-16.2%

Return vs Industry: GLEN exceeded the UK Metals and Mining industry which returned -7.1% over the past year.

Return vs Market: GLEN exceeded the UK Market which returned -16.2% over the past year.

Price Volatility

Is GLEN's price volatile compared to industry and market?
GLEN volatility
GLEN Average Weekly Movement5.9%
Metals and Mining Industry Average Movement7.9%
Market Average Movement5.3%
10% most volatile stocks in GB Market10.7%
10% least volatile stocks in GB Market2.8%

Stable Share Price: GLEN is not significantly more volatile than the rest of UK stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: GLEN's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1974135,000Gary Naglehttps://www.glencore.com

Glencore plc produces, refines, processes, stores, transports, and markets metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments, Marketing Activities and Industrial Activities. The company produces and markets copper, cobalt, nickel, zinc, lead, chrome ore, ferrochrome, vanadium, alumina, aluminum, tin, and iron ore.

Glencore Fundamentals Summary

How do Glencore's earnings and revenue compare to its market cap?
GLEN fundamental statistics
Market CapUK£62.68b
Earnings (TTM)UK£14.16b
Revenue (TTM)UK£219.31b

4.3x

P/E Ratio

0.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
GLEN income statement (TTM)
RevenueUS$244.38b
Cost of RevenueUS$221.07b
Gross ProfitUS$23.32b
Other ExpensesUS$7.53b
EarningsUS$15.78b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)1.23
Gross Margin9.54%
Net Profit Margin6.46%
Debt/Equity Ratio66.9%

How did GLEN perform over the long term?

See historical performance and comparison

Dividends

6.9%

Current Dividend Yield

22%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

6/6

Valuation Score 6/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

GLEN key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.4x
Enterprise Value/EBITDA3.5x
PEG Ratio-0.1x

Price to Earnings Ratio vs Peers

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

GLEN PE Ratio vs Peers
The above table shows the PE ratio for GLEN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average7x
AAL Anglo American
5.2x-13.8%UK£33.2b
KMR Kenmare Resources
2.9x-21.2%UK£371.2m
ANTO Antofagasta
13.8x13.1%UK£11.0b
BHP BHP Group
6.2x-15.5%AU$195.1b
GLEN Glencore
4.3x-32.0%UK£61.6b

Price-To-Earnings vs Peers: GLEN is good value based on its Price-To-Earnings Ratio (4.3x) compared to the peer average (7.1x).


Price to Earnings Ratio vs Industry

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

Price-To-Earnings vs Industry: GLEN is good value based on its Price-To-Earnings Ratio (4.3x) compared to the UK Metals and Mining industry average (5.2x)


Price to Earnings Ratio vs Fair Ratio

What is GLEN'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.

GLEN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio4.3x
Fair PE Ratio7.7x

Price-To-Earnings vs Fair Ratio: GLEN is good value based on its Price-To-Earnings Ratio (4.3x) compared to the estimated Fair Price-To-Earnings Ratio (7.7x).


Share Price vs Fair Value

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

Below Fair Value: GLEN (£4.78) is trading below our estimate of fair value (£6.39)

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


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

How is Glencore forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-32.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GLEN's earnings are forecast to decline over the next 3 years (-32% per year).

Earnings vs Market: GLEN's earnings are forecast to decline over the next 3 years (-32% per year).

High Growth Earnings: GLEN's earnings are forecast to decline over the next 3 years.

Revenue vs Market: GLEN's revenue is expected to decline over the next 3 years (-4.6% per year).

High Growth Revenue: GLEN's revenue is forecast to decline over the next 3 years (-4.6% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: GLEN's Return on Equity is forecast to be low in 3 years time (19%).


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Past Performance

How has Glencore performed over the past 5 years?

Past Performance Score

6/6

Past Performance Score 6/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


10.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: GLEN has high quality earnings.

Growing Profit Margin: GLEN's current net profit margins (6.5%) are higher than last year (1.2%).


Past Earnings Growth Analysis

Earnings Trend: GLEN's earnings have grown by 10.3% per year over the past 5 years.

Accelerating Growth: GLEN's earnings growth over the past year (699.5%) exceeds its 5-year average (10.3% per year).

Earnings vs Industry: GLEN earnings growth over the past year (699.5%) exceeded the Metals and Mining industry -7.4%.


Return on Equity

High ROE: GLEN's Return on Equity (34.9%) is considered high.


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Financial Health

How is Glencore's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: GLEN's short term assets ($71.1B) exceed its short term liabilities ($57.2B).

Long Term Liabilities: GLEN's short term assets ($71.1B) exceed its long term liabilities ($38.3B).


Debt to Equity History and Analysis

Debt Level: GLEN's net debt to equity ratio (60.4%) is considered high.

Reducing Debt: GLEN's debt to equity ratio has reduced from 68.1% to 66.9% over the past 5 years.

Debt Coverage: GLEN's debt is well covered by operating cash flow (30.6%).

Interest Coverage: GLEN's interest payments on its debt are well covered by EBIT (19.1x coverage).


Balance Sheet


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Dividend

What is Glencore current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


6.94%

Current Dividend Yield

Dividend Yield vs Market

Glencore Dividend Yield vs Market
How does Glencore dividend yield compare to the market?
SegmentDividend Yield
Company (Glencore)6.9%
Market Bottom 25% (GB)2.1%
Market Top 25% (GB)6.3%
Industry Average (Metals and Mining)10.0%
Analyst forecast in 3 Years (Glencore)10.4%

Notable Dividend: GLEN's dividend (6.94%) is higher than the bottom 25% of dividend payers in the UK market (2.15%).

High Dividend: GLEN's dividend (6.94%) is in the top 25% of dividend payers in the UK market (6.29%)


Stability and Growth of Payments

Stable Dividend: GLEN's dividend payments have been volatile in the past 10 years.

Growing Dividend: GLEN's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (21.7%), GLEN's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (92.6%), GLEN's dividend payments are not well covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

4.2yrs

Average management tenure


CEO

Gary Nagle (47 yo)

1.17yrs

Tenure

US$4,108,000

Compensation

Mr. Gary Nagle serves as Chief Executive Officer and Director at Glencore Plc since July 1, 2021. He served as the Chief Executive Officer of Glencore Xstrata's Alloys Division. He had been Global Head of...


CEO Compensation Analysis

Gary Nagle's Compensation vs Glencore Earnings
How has Gary Nagle's remuneration changed compared to Glencore's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

US$16b

Mar 31 2022n/an/a

US$10b

Dec 31 2021US$4mUS$900k

US$5b

Compensation vs Market: Gary's total compensation ($USD4.11M) is about average for companies of similar size in the UK market ($USD5.49M).

Compensation vs Earnings: Insufficient data to compare Gary's compensation with company performance.


Leadership Team

Experienced Management: GLEN's management team is considered experienced (4.2 years average tenure).


Board Members

Experienced Board: GLEN's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of GLEN?
Owner TypeNumber of SharesOwnership Percentage
VC/PE Firms1,046,550,9518.1%
Individual Insiders1,215,733,0009.4%
Institutions4,695,893,05236.2%
General Public6,015,392,35246.4%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 46.43% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
9.34%
Ivan Glasenberg
1,211,957,850$5.8b0%no data
8.25%
BlackRock, Inc.
1,070,599,712$5.1b0%0.14%
8.07%
Qatar Holding LLC
1,046,550,951$5.0b0.06%11.64%
4.47%
The Vanguard Group, Inc.
579,420,110$2.8b1.42%0.07%
3.99%
Harris Associates L.P.
518,019,752$2.5b0%3.54%
1.3%
Wellington Management Group LLP
168,632,920$806.3m-0.01%0.16%
1.25%
GQG Partners LLC
162,547,306$777.2m-5.34%1.28%
1.15%
FMR LLC
149,065,650$712.8m1.42%0.07%
0.98%
Allan Gray Limited
126,953,718$607.0m0%5.71%
0.95%
Dodge & Cox
123,856,406$592.2m-0.12%0.37%
0.84%
abrdn plc
109,417,791$523.2m-6.17%0.58%
0.55%
Dimensional Fund Advisors LP
70,858,577$338.8m5.63%0.09%
0.54%
Royal London Asset Management Limited
70,039,042$334.9m0%0.69%
0.53%
Massachusetts Financial Services Company
68,182,428$326.0m8.43%0.09%
0.48%
Teachers Insurance and Annuity Association-College Retirement Equities Fund
61,805,617$295.5m2.58%0.11%
0.47%
Ignis Investment Services Limited
61,453,777$293.8m0%1.24%
0.44%
State Street Global Advisors, Inc.
56,621,959$270.7m0.99%0.02%
0.43%
Geode Capital Management, LLC
55,277,188$264.3m0.46%0.04%
0.41%
Legal & General Investment Management Limited
53,804,152$257.3m0.82%0.08%
0.36%
PRIMECAP Management Company
47,135,964$225.4m2.21%0.22%
0.35%
Coronation Fund Managers Limited
46,005,179$220.0m0%1.89%
0.33%
Thornburg Investment Management, Inc.
43,433,278$207.7m0.94%1.6%
0.32%
J.P. Morgan Asset Management, Inc.
41,760,776$199.7m-5.78%0.04%
0.32%
Charles Schwab Investment Management, Inc.
40,938,511$195.7m2.06%0.06%
0.31%
Northern Trust Global Investments
39,802,674$190.3m-6.59%0.04%

Company Information

Glencore plc's employee growth, exchange listings and data sources


Key Information

  • Name: Glencore plc
  • Ticker: GLEN
  • Exchange: LSE
  • Founded: 1974
  • Industry: Diversified Metals and Mining
  • Sector: Materials
  • Implied Market Cap: UK£62.681b
  • Shares outstanding: 12.88b
  • Website: https://www.glencore.com

Number of Employees


Location

  • Glencore plc
  • Baarermattstrasse 3
  • P.O. Box 1363
  • Baar
  • Zug
  • 6341
  • Switzerland


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GLENLSE (London Stock Exchange)YesOrdinary SharesGBGBPMay 2011
8GCDB (Deutsche Boerse AG)YesOrdinary SharesDEEURMay 2011
GLCN.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDMay 2011
GLENLBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBGBPMay 2011
GLEN NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNMay 2011
GLNJSE (The Johannesburg Securities Exchange)YesOrdinary SharesZAZARMay 2011
8GCETLX (Eurotlx)YesOrdinary SharesITEURMay 2011
GLNC.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDJul 2011
8GCADB (Deutsche Boerse AG)UNSPONSORD ADRDEEURJul 2011
0IVWLSE (London Stock Exchange)UNSPONSORD ADRGBUSDJul 2011

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/30 00:00
End of Day Share Price2022/09/30 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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.