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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 | 5.78B | 5.78B | 5.48B | 5.65B | 9.27B | 5.48B |
| Gross Profit | 2.52B | 2.52B | 1.86B | 1.94B | 5.46B | 2.57B |
| EBITDA | 897.08M | 1.34B | 141.00M | 416.00M | 4.47B | 1.47B |
| Net Income | 212.95M | 213.00M | -203.00M | -173.00M | 2.67B | -195.00M |
Balance Sheet | ||||||
| Total Assets | 13.73B | 13.73B | 14.24B | 14.56B | 16.34B | 13.24B |
| Cash, Cash Equivalents and Short-Term Investments | 1.68B | 1.68B | 842.00M | 1.26B | 2.37B | 1.61B |
| Total Debt | 1.63B | 1.63B | 1.57B | 1.74B | 1.83B | 1.21B |
| Total Liabilities | 4.87B | 4.87B | 5.27B | 5.19B | 5.56B | 4.29B |
| Stockholders Equity | 8.85B | 8.85B | 8.96B | 9.38B | 10.78B | 8.96B |
Cash Flow | ||||||
| Free Cash Flow | 299.08M | 332.00M | -2.00M | 303.00M | 2.48B | 815.00M |
| Operating Cash Flow | 1.34B | 1.33B | 1.12B | 1.19B | 3.07B | 1.41B |
| Investing Cash Flow | -22.39M | -20.00M | -1.11B | -908.00M | -2.10B | -608.00M |
| Financing Cash Flow | -401.56M | -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 | AU$15.72B | 39.44 | 3.64% | 2.67% | 6.53% | ― | |
62 Neutral | AU$12.65B | 1,461.63 | 0.34% | ― | 20.12% | -90.49% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
59 Neutral | AU$14.11B | -69.19 | -5.63% | ― | -38.69% | -174.12% | |
58 Neutral | AU$10.98B | -12.10 | -26.55% | ― | -15.27% | -817.26% | |
56 Neutral | $6.13B | -6.42 | -35.65% | ― | -37.23% | -32433.33% | |
52 Neutral | AU$3.52B | -14.16 | -7.26% | 5.03% | -2.30% | -234.27% |
South32 Corporate Events
South32 Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. As of 24 December 2025, the company reported that a total of 42,498,027 shares had been repurchased prior to the previous trading day, with an additional 274,803 shares bought back on the previous day, indicating continued execution of its capital management strategy and a focus on returning value to shareholders through reducing the number of shares on issue.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$4.30 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has reported an updated daily notification of its on‑market buy-back of ordinary fully paid shares, listed on the ASX under code S32. As of 23 December 2025, the company has repurchased a cumulative 42,153,903 shares, including 344,124 shares bought back on the previous trading day, as part of a buy-back program initially notified on 29 August 2024 and most recently updated on 22 December 2025, signalling ongoing capital management activity that reduces shares on issue and may enhance value for remaining shareholders.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$4.30 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has provided an updated daily notification to the ASX on its ongoing on‑market share buy‑back of ordinary fully paid shares. As of 22 December 2025, the company reported that it had repurchased a cumulative total of 41,132,160 shares prior to the latest trading day, and a further 1,021,743 shares were bought back on the previous day, reflecting continued execution of its capital management program and ongoing reduction of shares on issue.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$4.30 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 on-market share buy-back program. On December 18, 2025, the company repurchased 595,632 shares of its ordinary fully paid securities, bringing the total number bought back since the program’s inception on August 29, 2024, to over 40.5 million. This initiative reflects South32’s strategic plan to enhance shareholder value and optimize its capital structure, signaling confidence in its financial position and a commitment to delivering returns to its investors.
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 to its ongoing on-market buy-back program, with a total of 39,344,887 securities bought back before the previous day and an additional 471,617 securities acquired on the previous day. This buy-back initiative is part of the company’s strategy to optimize its capital structure and enhance shareholder value, reflecting a proactive approach in managing its financial resources and market positioning.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$3.70 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has announced a change in the interests of its director, Graham Kerr, in the company’s securities. The change involves the allocation of 1,878,568 rights under the South32 Equity Incentive Plan, which was approved by shareholders at the 2025 Annual General Meeting. This adjustment reflects the company’s ongoing commitment to aligning executive incentives with shareholder interests, potentially impacting the company’s operational focus and stakeholder engagement.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$3.45 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 the purchase of 556,066 ordinary fully paid securities on the previous day, bringing the total number of securities bought back to 38,210,323. This buy-back initiative reflects South32’s strategy to manage its capital efficiently and return value to shareholders, potentially impacting its market positioning and shareholder confidence.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$3.45 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has appointed Geoff Healy as an independent Non-Executive Director to its Board, effective from December 2, 2025. With over 30 years of experience in professional services and natural resources, Healy’s expertise in strategy, legal, risk, and external affairs is expected to enhance the Board’s capabilities as the company focuses on commodities critical to the global energy transition.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$3.45 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has successfully completed the divestment of its Cerro Matoso operation to a subsidiary of CoreX Holding B.V. This strategic move is part of South32’s ongoing efforts to optimize its portfolio and focus on its core operations, potentially impacting its market positioning and stakeholder interests.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$3.45 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 cessation of 3,325,728 ordinary fully paid securities due to an on-market buy-back, effective November 30, 2025. This move is part of the company’s capital management strategy, potentially impacting its share value and market perception positively by reducing the number of shares outstanding.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$3.45 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, with a total of 336,990 ordinary fully paid securities bought back on the previous day, bringing the total to 36,543,689 securities repurchased. This buy-back initiative is part of South32’s strategy to manage its capital structure and return value to shareholders, potentially impacting its market positioning and shareholder relations.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$3.45 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. The company reported that it has bought back a total of 36,292,611 securities before the previous day and an additional 251,078 securities 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 impacting its market positioning and shareholder confidence.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$3.45 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 November 7, 2025, the company has repurchased a total of 35,548,161 ordinary fully paid securities, with 309,481 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 impacting its market positioning and investor relations.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$3.45 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 November 4, 2025, the company has repurchased a total of 34,884,595 ordinary fully paid shares, with 354,085 shares bought back on the previous day. This buy-back initiative is part of South32’s strategy to optimize its capital structure and return value to shareholders, reflecting confidence in its financial position and future prospects.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$3.45 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 5,170,869 ordinary fully paid securities due to an on-market buy-back, effective October 31, 2025. This move is part of the company’s capital management strategy, potentially impacting its share value and market positioning by reducing the number of shares in circulation, which may benefit existing shareholders.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$3.45 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
South32 Limited has announced a daily update on its ongoing on-market buy-back of ordinary fully paid securities, with a total of 426,404 securities bought back on the previous day. This buy-back initiative, which began in August 2024, reflects the company’s strategy to manage its capital structure and potentially enhance shareholder value.
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 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 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.