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South32
(Sydney:S32)
South32 (S32) vs. iShares MSCI Australia ETF (EWA)
South32 Business Overview & Revenue Model
South32 Earnings Call Summary
South32 Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.19B | 5.78B | 5.48B | 5.65B | 9.27B | 5.48B |
| Gross Profit | 440.00M | 2.52B | 1.86B | 1.94B | 5.46B | 2.57B |
| EBITDA | 644.00M | 1.34B | 141.00M | 416.00M | 4.47B | 1.47B |
| Net Income | 360.00M | 213.00M | -203.00M | -173.00M | 2.67B | -195.00M |
Balance Sheet | ||||||
| Total Assets | 13.86B | 13.73B | 14.24B | 14.56B | 16.34B | 13.24B |
| Cash, Cash Equivalents and Short-Term Investments | 1.60B | 1.68B | 842.00M | 1.26B | 2.37B | 1.61B |
| Total Debt | 1.65B | 1.63B | 1.57B | 1.74B | 1.83B | 1.21B |
| Total Liabilities | 4.68B | 4.87B | 5.27B | 5.19B | 5.56B | 4.29B |
| Stockholders Equity | 9.16B | 8.85B | 8.96B | 9.38B | 10.78B | 8.96B |
Cash Flow | ||||||
| Free Cash Flow | -46.00M | 332.00M | -2.00M | 303.00M | 2.48B | 815.00M |
| Operating Cash Flow | 450.00M | 1.33B | 1.12B | 1.19B | 3.07B | 1.41B |
| Investing Cash Flow | 417.00M | -20.00M | -1.11B | -908.00M | -2.10B | -608.00M |
| Financing Cash Flow | -108.00M | -405.00M | -417.00M | -1.39B | -215.00M | -501.00M |
South32 Technical Analysis
South32 Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | £13.72B | 34.38 | 3.64% | 2.88% | 6.53% | ― | |
64 Neutral | $11.04B | ― | -5.63% | ― | -38.69% | -174.12% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
59 Neutral | AU$13.92B | 1,608.14 | 0.34% | ― | 20.12% | -90.49% | |
58 Neutral | $10.05B | ― | -26.55% | ― | -15.27% | -817.26% | |
55 Neutral | $4.41B | ― | -35.65% | ― | -37.23% | -32433.33% | |
52 Neutral | AU$3.04B | -12.24 | -7.26% | 5.44% | -2.30% | -234.27% |
South32 Corporate Events
South32 Limited announced the retirement of Frank Cooper AO and Dr. Ntombifuthi Mtoba as independent Non-Executive Directors following their 2025 Annual General Meeting. Both directors have been instrumental in shaping the company’s governance and strategy, with Cooper contributing expertise in finance and risk management, and Mtoba enhancing the company’s sustainability and corporate social responsibility efforts. Their departure marks the end of a significant era for South32, as they were founding directors who helped guide the company through its first decade.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
At the 2025 Annual General Meeting, South32 Limited announced the results of various resolutions, all of which were carried by poll. Notably, the adoption of the Remuneration Report received more than 25% opposition, marking a ‘first strike’ under the Corporations Act 2001. This outcome could have implications for the company’s governance and stakeholder relations, highlighting potential concerns among shareholders regarding executive compensation.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited held its 2025 Annual General Meeting, where the Chair and CEO addressed shareholders, and proxy votes were summarized for various resolutions. Key resolutions included the election of directors, adoption of the remuneration report, and approval of the Climate Change Action Plan 2025. The outcomes of these resolutions, particularly the strong support for the Climate Change Action Plan, highlight the company’s commitment to sustainability and its strategic focus on addressing climate change, which could enhance its industry positioning and stakeholder relations.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has announced an update regarding its ongoing on-market buy-back program. As of October 23, 2025, the company has repurchased a total of 32,753,840 securities, with 681,595 securities bought back on the previous day. This buy-back initiative is part of South32’s strategy to manage its capital structure and return value to shareholders, potentially enhancing its market position and shareholder confidence.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has announced the retirement of its Chair, Karen Wood, in February 2026, with Stephen Pearce set to succeed her. Pearce, who has been a Non-Executive Director since February 2025, brings extensive experience in the mining, oil and gas, and utilities industries. This leadership transition is expected to ensure continuity and collaboration as South32 continues its strategic focus on base metals critical to the energy transition.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 reported strong operational performance with significant increases in copper and manganese production. The company is advancing its growth projects, including the Hermosa and Ambler Metals projects, while maintaining a robust financial position. South32’s strategic focus includes enhancing its portfolio towards high-margin businesses and capitalizing on favorable market conditions in base metals. The company also continues to invest in safety improvements and climate change initiatives.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$1.65 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has announced an update regarding its ongoing on-market buy-back program, with a daily buy-back notification revealing the repurchase of 939,708 ordinary fully paid securities on the previous day. This buy-back strategy is part of the company’s efforts to manage its capital structure and return value to shareholders, reflecting a proactive approach to enhancing shareholder value in the competitive mining sector.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$1.65 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has announced an update regarding its ongoing on-market buy-back program, with a total of 31,814,132 ordinary fully paid securities repurchased to date. This buy-back initiative reflects the company’s strategy to optimize its capital structure and potentially enhance shareholder value, signaling confidence in its financial health and future prospects.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$1.65 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited announced an update on its ongoing on-market buy-back program, revealing that a total of 231,784 ordinary fully paid securities were bought back on the previous day, adding to the cumulative total of 30,782,884 securities bought back before that day. This buy-back initiative is part of South32’s strategy to manage its capital structure effectively and potentially enhance shareholder value, reflecting its commitment to returning capital to shareholders and optimizing its balance sheet.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$3.25 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited announced the cessation of 4,395,941 securities due to the lapse of conditional rights, as the conditions for these securities were not met by the specified date. This cessation could impact the company’s capital structure and may have implications for stakeholders, reflecting on the company’s operational adjustments in response to unmet conditions.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$3.20 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has announced the issuance of 5,655,901 ordinary fully paid securities, effective September 30, 2025. This move reflects the company’s ongoing financial strategies and may impact its market positioning by potentially increasing its capital base, which could influence stakeholder interests and the company’s operational dynamics.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$3.20 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has announced an update regarding its daily buy-back notification, which has been lodged on the Australian Securities Exchange and disclosed on the Johannesburg and London Stock Exchanges. This move is part of the company’s ongoing efforts to manage its capital effectively, potentially impacting its market positioning and shareholder value.
South32 Limited has announced an update regarding its daily buy-back notification, which has been lodged on the Australian Securities Exchange and disclosed on the Johannesburg and London Stock Exchanges. This move is part of the company’s ongoing efforts to manage its capital efficiently, potentially impacting its market positioning and shareholder value.
South32 Limited has announced the cessation of 4,090,279 ordinary fully paid securities due to an on-market buy-back as of September 30, 2025. This move is part of the company’s capital management strategy, potentially impacting its stock liquidity and shareholder value, while reflecting its commitment to optimizing capital structure and returning value to shareholders.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$2.85 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has announced an update on its ongoing on-market buy-back program, revealing that a total of 29,146,193 securities have been bought back prior to the previous day, with an additional 567,533 securities purchased on the previous day. This buy-back initiative is part of the company’s strategy to manage its capital structure and return value to shareholders, potentially impacting its stock performance and market perception.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$2.85 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has declared a final dividend of 2.6 US cents per share for the fiscal year ending June 30, 2025, with the payment scheduled for October 16, 2025. The dividend will be distributed in various currencies, including Australian cents, British pence, New Zealand cents, and South African cents, based on the average exchange rates from specified periods. This announcement reflects South32’s ongoing commitment to providing value to its shareholders and highlights its strategic financial management.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$2.85 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has updated its previous announcement regarding the dividend distribution for the period ending June 30, 2025. The update provides information on exchange rates and local currency conversion, impacting stakeholders by clarifying financial details related to the dividend distribution.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$2.85 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has announced an update on its ongoing on-market buy-back program, revealing that a total of 28,763,202 securities have been repurchased prior to the previous day, with an additional 382,991 securities bought back on the most recent day. This buy-back initiative is part of South32’s strategy to optimize its capital structure and deliver value to shareholders, reflecting the company’s confidence in its financial position and future prospects.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$2.85 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has announced an update regarding its ongoing on-market buy-back program, with a total of 433,123 ordinary fully paid securities bought back on the previous day, adding to a cumulative total of 28,330,079 securities repurchased. This buy-back initiative reflects the company’s strategy to manage its capital structure and could potentially enhance shareholder value by reducing the number of shares outstanding.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$3.20 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has announced the details of its 2025 Annual General Meeting, scheduled for October 23, 2025, to be held as a hybrid event both physically in Perth and online. This meeting is significant for shareholders as it provides an opportunity to engage with the company’s strategic direction and governance, reflecting South32’s commitment to transparency and stakeholder engagement.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$3.20 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has announced an update regarding its ongoing on-market buy-back program. As of September 17, 2025, the company has repurchased a total of 27,969,019 securities, with an additional 361,060 bought back on the previous day. This buy-back initiative reflects South32’s commitment to returning value to shareholders and optimizing its capital structure.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$3.20 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited announced a change in the interest of its director, Stephen Pearce, who acquired 100,000 ordinary shares through an on-market purchase on the Australian Securities Exchange. This acquisition increases Pearce’s direct holdings to 100,000 shares, while he also holds 30,000 shares indirectly through a superannuation fund. This move indicates a potential vote of confidence in the company’s future prospects by its director, which could have positive implications for investor sentiment and stakeholder confidence.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$3.20 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has announced an update on its ongoing share buy-back program, revealing that a total of 27,413,431 securities have been bought back prior to the previous day, with an additional 555,588 securities bought back on the previous day. This buy-back initiative is part of the company’s strategy to optimize its capital structure and return value to shareholders, potentially impacting its market positioning by reducing the number of shares outstanding and enhancing shareholder value.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$2.90 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has announced its Climate Change Action Plan 2025, which was presented in a briefing webcast. This plan underscores the company’s commitment to addressing climate change and its impact on operations, aiming to enhance its industry positioning and stakeholder relations by contributing to a sustainable future.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$2.90 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has announced an update regarding its ongoing share buy-back program, reporting the acquisition of 644,506 ordinary fully paid securities on the previous day, contributing to a total of 26,768,925 securities bought back to date. This buy-back initiative reflects the company’s strategy to manage its capital structure and potentially enhance shareholder value, indicating a proactive approach in optimizing its financial operations and market positioning.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$2.90 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has announced an update on its daily buy-back notification, which has been lodged on the Australian Securities Exchange and disclosed on the Johannesburg and London Stock Exchanges. This move is part of the company’s ongoing efforts to manage its capital structure and potentially enhance shareholder value.
South32 Limited has announced an update on its ongoing on-market buy-back program, revealing that a total of 696,357 ordinary fully paid securities were bought back on the previous day, adding to the 25,623,447 securities bought back before that day. This buy-back initiative is part of the company’s strategy to manage its capital structure and return value to shareholders, which could potentially impact its stock market performance and investor relations.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited announced the cessation of 1,710,693 securities due to the lapse of conditional rights, as the conditions for these rights were not met or became incapable of being satisfied. This announcement may impact the company’s capital structure and could have implications for its market positioning and stakeholder interests.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$2.70 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited announced the issuance and conversion of 806,745 unquoted equity securities, which were fully paid and issued on August 29, 2025. This move is part of the company’s ongoing financial strategies to manage its equity and potentially enhance liquidity, reflecting its proactive approach in maintaining robust capital management practices.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$2.70 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited announced a change in the director’s interest notice, specifically regarding Graham Kerr’s holdings. The notice details the acquisition and disposal of ordinary shares and rights under the South32 Equity Incentive Plan. Kerr acquired 423,598 shares at no cost due to the vesting of incentive awards and disposed of 199,092 shares to cover tax liabilities. The changes reflect adjustments in Kerr’s direct and indirect holdings, impacting the company’s equity distribution and potentially influencing shareholder perceptions.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$2.70 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has released its corporate governance statement for the financial year ending June 30, 2025, which has been approved by the board as of August 28, 2025. The statement outlines the extent to which South32 has adhered to the ASX Corporate Governance Council’s recommendations, providing transparency on its governance practices. This announcement highlights South32’s commitment to maintaining robust governance standards, potentially reinforcing its credibility and trust among stakeholders.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$2.60 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32’s 2025 Annual Report highlights the company’s operations, financial performance, and sustainability progress for the year ending June 30, 2025. The report integrates various sustainability and governance documents, reflecting South32’s commitment to transparency and responsible business practices. The company engaged KPMG for independent assurance on select sustainability information, underscoring its dedication to accountability and stakeholder trust.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$2.60 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has announced an extension to the end date of its on-market buy-back program for its ordinary fully paid securities, under the ASX security code S32. This update reflects the company’s strategic decision to adjust its capital management approach, potentially impacting its market positioning and shareholder value.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$2.60 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited announced its financial results for the year ending June 30, 2025, reporting a 17% increase in revenue from continuing operations and a significant turnaround in profit after tax. The company has classified its Illawarra Metallurgical Coal and Cerro Matoso operations as discontinued, with the latter expected to be sold in late H1 FY26. A final dividend of US 2.6 cents per share has been declared, reflecting the company’s strong financial performance and strategic divestments.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$2.60 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 has announced an update regarding its Mozal Aluminium operations, highlighting ongoing challenges in securing sufficient and affordable electricity supply beyond March 2026. Due to these challenges, South32 will limit investment in Mozal, halting pot relining and standing down contractors, with expectations to place Mozal on care and maintenance by the end of the current electricity agreement. The company will recognize a US$372 million impairment in its FY25 financial results, reflecting the uncertainty of future operations at Mozal.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$1.90 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.