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IGO
(Sydney:IGO)
IGO (IGO) vs. iShares MSCI Australia ETF (EWA)
IGO Business Overview & Revenue Model
IGO Earnings Call Summary
IGO Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 517.30M | 499.90M | 796.40M | 1.05B | 845.20M | 619.86M |
| Gross Profit | 36.30M | -176.50M | -134.60M | 203.20M | 327.30M | 151.74M |
| EBITDA | -36.10M | -811.10M | 148.40M | -592.20M | 468.40M | 358.66M |
| Net Income | -954.60M | -954.60M | 2.80M | 549.10M | 330.90M | 163.84M |
Balance Sheet | ||||||
| Total Assets | 2.36B | 2.36B | 3.57B | 4.74B | 4.86B | 3.61B |
| Cash, Cash Equivalents and Short-Term Investments | 343.50M | 343.50M | 530.40M | 837.60M | 493.90M | 639.46M |
| Total Debt | 31.40M | 31.40M | 48.70M | 432.10M | 959.20M | 25.05M |
| Total Liabilities | 263.90M | 263.90M | 357.50M | 947.70M | 1.43B | 408.86M |
| Stockholders Equity | 2.09B | 2.09B | 3.21B | 3.79B | 3.44B | 3.20B |
Cash Flow | ||||||
| Free Cash Flow | 32.70M | 37.60M | 673.10M | 1.05B | 300.30M | 351.34M |
| Operating Cash Flow | 37.90M | 42.90M | 872.00M | 1.39B | 388.40M | 446.05M |
| Investing Cash Flow | -4.00M | -4.00M | -240.30M | -293.60M | -1.28B | -1.06B |
| Financing Cash Flow | -223.40M | -223.40M | -943.70M | -726.70M | 761.80M | 633.00M |
IGO Technical Analysis
IGO Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | AU$2.08B | 13.35 | 151.89% | 5.31% | 6.54% | 0.48% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
59 Neutral | $13.10B | ― | -5.63% | ― | -38.69% | -174.12% | |
58 Neutral | $10.13B | ― | -26.55% | ― | -15.27% | -817.26% | |
56 Neutral | $5.38B | ― | -35.65% | ― | -37.23% | -32433.33% | |
52 Neutral | AU$3.26B | -13.11 | -7.26% | 5.30% | -2.30% | -234.27% |
IGO Corporate Events
IGO Limited has announced that it has ceased to be a substantial holder in Boa Resources Limited as of November 25, 2025. This change in holding is due to a dilution of interest following a share issue by Boa Resources. The announcement may impact IGO’s strategic positioning and influence within Boa Resources, potentially affecting its stakeholders and market dynamics.
IGO Limited has announced the appointment of Johan van Vuuren as its new Chief Financial Officer, effective April 1, 2026. Van Vuuren brings over 20 years of experience in finance and commercial roles across various industries and regions, including mining, energy, and petrochemicals. His expertise in digital transformation and corporate strategy is expected to support IGO’s refreshed strategy and enhance its governance and financial transparency. The transition follows the tenure of Kathleen Bozanic, who significantly contributed to the company’s governance and strategic positioning.
IGO Limited has announced the appointment of Vanessa Guthrie as a director, effective December 1, 2025. Guthrie holds 9,523 ordinary shares through Xenolith Holdings Pty Ltd ATF Stolz-Guthrie Family Trust, indicating her vested interest in the company’s future. This appointment is part of IGO’s strategic efforts to strengthen its leadership team, potentially impacting its market positioning and stakeholder relations.
Schroder Investment Management Australia Ltd has ceased to be a substantial holder in IGO Ltd as of November 20, 2025. This change in holding reflects a series of transactions involving both purchases and sales of IGO’s ordinary shares, impacting the company’s shareholder structure and potentially influencing its market dynamics.
IGO Limited has announced the cessation of Xiaoping Yang as a director, effective November 14, 2025. This change in the board may influence the company’s strategic direction and stakeholder relationships, given Yang’s previous holdings of 14,000 ordinary shares through Fidelity
IGO Limited has announced a change in its external auditor, transitioning from BDO Audit Pty Ltd to Ernst & Young. This change, effective after the 2025 Annual General Meeting, follows a tender process and reflects the company’s decision to update its auditing practices after BDO’s long tenure since 2002. The shift is expected to bring fresh perspectives to IGO’s auditing processes, potentially impacting its financial reporting and stakeholder confidence.
IGO Limited, a company listed on the Australian Securities Exchange, held its Annual General Meeting on November 19, 2025, in Perth, Western Australia. During the meeting, all seven resolutions proposed were passed by a poll, demonstrating strong shareholder support. The results will be available via a webcast on the company’s website, providing transparency and accessibility for those unable to attend. This outcome reflects positively on IGO’s governance and may bolster stakeholder confidence.
IGO Limited’s 2025 Annual General Meeting highlighted a year of significant change and strategic realignment, despite reporting a net loss of $955 million due to subdued markets and necessary restructuring. The company remains focused on its strategy to 2035, emphasizing quality assets in lithium, copper, and nickel to support a clean energy future. The Greenbushes lithium operation maintained strong performance, illustrating its status as a premier asset. IGO is committed to safety improvements, environmental stewardship, and board renewal, with the appointment of Dr. Vanessa Guthrie AO as Chair-elect, signaling a new chapter of growth and transformation.
IGO Limited has announced the appointment of Dr. Vanessa Guthrie AO as the Non-Executive Director and incoming Chair of the Board, effective December 1, 2025. Dr. Guthrie, who succeeds Michael Nossal, brings over forty years of experience in the resource sector and is recognized for her contributions to sustainability and leadership in the industry. Her appointment is part of IGO’s board renewal and succession process, aligning with the company’s strategic refresh and transformation under the leadership of CEO Ivan Vella. This leadership transition aims to guide IGO through its next phase of growth while maintaining high standards of governance.
Medallion Metals Limited, a company focused on sulphide production and gold exploration, has reached a significant milestone in its acquisition of the Forrestania Nickel Operation from IGO Ltd. The company has finalized the Ancillary Agreements, which include mineral rights deeds, a royalty deed, and an option deed, marking a key step towards completing the acquisition. This development is expected to enhance Medallion’s strategic positioning in the region, supporting its production strategy and exploration efforts in the Forrestania greenstone belt.
IGO Limited has reported its first quarter results for 2026, highlighting a focus on safety and operational efficiency across its operations. The company achieved over 90 days injury-free and reduced its 12-month Total Recordable Injury Frequency Rate (TRIFR) to 8.0. At Greenbushes, the EBITDA margin was 57% with stable spodumene prices, though production was affected by lower mined grades and heavy rain. Kwinana saw production at 46% of nameplate capacity, with lower conversion costs due to increased production. Nova’s production and costs aligned with the life of mine plan, despite a stope misfire impacting short-term production. Financially, IGO maintained a strong balance sheet with a group underlying EBITDA of $19M, positive free cash flow of $15M, and a net cash increase to $287M.
IGO Limited reported a steady performance for the quarter ending September 30, 2025, with production aligning with expectations despite challenges such as lower ore grades and market volatility. The company’s focus on safety has led to improved safety metrics, and financial results show a strong balance sheet with positive cash flow and increased production at the Kwinana refinery. The company is actively working on optimizing its operations and exploring growth opportunities to deliver future value.
IGO Limited has announced that its Managing Director and CEO, Ivan Vella, along with Chief Financial Officer, Kathleen Bozanic, will host an investor webcast to present the company’s September 2025 Quarterly Results. The webcast is scheduled for October 30, 2025, and aims to provide insights into the company’s financial performance and strategic direction. The release of the quarterly report is anticipated to impact stakeholders by offering transparency into IGO’s operational outcomes and future prospects.
Venus Metals Corporation Limited has announced the formation of an unincorporated joint venture with IGO Limited’s subsidiary for the Bridgetown Greenbushes Exploration Project. IGO has met the Stage 1 requirements to acquire a 51% interest in the project by investing $3 million in exploration. The joint venture allows IGO to earn an additional 19% interest by spending another $3 million. The project has identified a significant Li-Ta-Nb-Cs anomaly at Ti Tree, with further exploration and analysis ongoing. This joint venture strengthens Venus Metals’ position in the exploration sector and could lead to significant developments in the project area.
IGO Limited has announced its upcoming Annual General Meeting (AGM) for shareholders, scheduled for November 19, 2025, at the Perth Convention and Exhibition Centre and online. The company emphasizes the importance of the Notice of Meeting, which will be available online, and outlines procedures for attending and voting both in person and virtually. This AGM is a significant event for stakeholders, providing an opportunity for shareholder engagement and decision-making on company matters.
IGO Limited has announced the resignation of two of its directors, Keith Spence and Xiaoping Yang, as part of its ongoing board renewal and succession strategy. Keith Spence, who has been with the board for ten years, played a crucial role in enhancing the company’s performance in safety, operations, and environmental management. Xiaoping Yang, who joined in 2020, contributed significantly to the company’s strategic oversight, particularly in downstream processing and international relations. Their departures mark a significant transition for IGO, with the board expressing gratitude for their invaluable contributions.
IGO Limited has announced the cessation of certain securities, specifically performance rights and options, due to unmet conditions. This cessation could impact the company’s capital structure and may influence stakeholder perceptions regarding the company’s strategic execution and financial planning.
IGO Limited, a company listed on the Australian Securities Exchange (ASX: IGO), has announced the date for its 2025 Annual General Meeting (AGM), which will be held on November 19, 2025. The company has also set September 17, 2025, as the deadline for director nominations. This announcement is significant for shareholders and potential board candidates as it outlines the timeline for participation in the company’s governance.