Anglo American plc

NMSE:ANM Stock Report

Market Cap: R783.5b

Anglo American Valuation

Is ANM 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-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

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

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Fair Value: ANM (ZAR721.76) is trading above our estimate of fair value (ZAR294.97)

Significantly Below Fair Value: ANM is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for ANM. This is calculated by dividing ANM's market cap by their current revenue.
What is ANM's PS Ratio?
PS Ratio1.8x
SalesUS$26.66b
Market CapUS$47.96b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for ANM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average4.6x
1211 Saudi Arabian Mining Company (Ma'aden)
7.3x3.36%ر.س276.7b
GLEN Glencore
0.3x1.25%UK£57.5b
GMKN Mining and Metallurgical Company Norilsk Nickel
2.4xn/a₽2.6t
500188 Hindustan Zinc
8.3x10.53%₹2.8t
ANM Anglo American
1.8x-3.07%R35.8b

Price-To-Sales vs Peers: ANM is good value based on its Price-To-Sales Ratio (1.8x) compared to the peer average (5.3x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

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

6 CompaniesPrice / SalesEstimated GrowthMarket Cap
ANM 1.8xIndustry Avg. 2.1xNo. of Companies6PS01.63.24.86.48+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: ANM is good value based on its Price-To-Sales Ratio (1.8x) compared to the African Metals and Mining industry average (2.1x).

Price to Sales Ratio vs Fair Ratio

What is ANM'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.

ANM PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.8x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate ANM's Price-To-Sales Fair Ratio for valuation analysis.

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 ANM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentR721.76
R699.71
-3.06%
14.67%R814.04R447.09n/a15
Jan ’27R685.10
R667.52
-2.57%
15.54%R788.42R457.03n/a14
Dec ’26R658.39
R656.50
-0.29%
14.44%R798.24R465.45n/a14
Nov ’26R656.67
R651.93
-0.72%
14.05%R807.76R474.78n/a14
Oct ’26R646.98
R583.89
-9.75%
15.25%R700.46R448.24n/a15
Sep ’26R537.05
R540.78
+0.69%
13.76%R657.09R447.18n/a16
Aug ’26R494.79
R548.48
+10.85%
14.18%R658.27R441.67n/a16
Jul ’26R522.28
R561.98
+7.60%
11.32%R656.38R464.33n/a15
Jun ’26R536.95
R635.77
+18.40%
12.62%R759.26R527.34n/a15
May ’26R502.80
R659.10
+31.09%
12.86%R784.70R538.80n/a16
Apr ’26R506.88
R675.43
+33.25%
14.63%R806.67R537.78n/a16
Mar ’26R544.15
R680.29
+25.02%
14.94%R806.63R530.63n/a16
Feb ’26R549.95
R670.26
+21.88%
13.65%R799.61R526.22n/a16
Jan ’26R551.85
R677.73
+22.81%
13.92%R796.13R525.48R685.1016
Dec ’25R568.35
R651.17
+14.57%
12.49%R783.07R521.02R658.3917
Nov ’25R549.41
R640.19
+16.52%
11.12%R753.78R524.72R656.6717
Oct ’25R563.62
R644.18
+14.29%
10.92%R764.66R523.99R646.9817
Sep ’25R515.65
R666.15
+29.19%
11.45%R803.42R543.95R537.0517
Aug ’25R536.06
R694.31
+29.52%
10.50%R826.72R559.97R494.7917
Jul ’25R562.00
R698.60
+24.31%
11.30%R817.34R527.61R522.2818
Jun ’25R593.66
R728.88
+22.78%
12.20%R867.17R547.63R536.9517
May ’25R617.00
R650.27
+5.39%
18.11%R824.29R421.40R502.8014
Apr ’25R465.16
R590.89
+27.03%
14.29%R733.89R434.45R506.8819
Mar ’25R416.88
R597.93
+43.43%
14.10%R743.12R440.37R544.1519
Feb ’25R443.09
R613.15
+38.38%
17.25%R898.48R429.68R549.9519
Jan ’25R473.49
R619.31
+30.80%
18.75%R895.55R396.44R551.8518
R690.12
Fair Value
4.6% overvalued intrinsic discount
15
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 Analysis2026/01/15 23:36
End of Day Share Price 2026/01/15 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. 15 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