Fortescue Metals Group

Public consensus   -   Last updated 23/11/20

Contributors 13

  • Bell Potter
  • BofA Securities
  • Citi
  • Credit Suisse
  • Evans and Partners
  • Goldman Sachs Australia
  • Macquarie
  • Morgan Stanley
  • Morgans
  • Morningstar
  • RBC Capital Markets
  • Renaissance BJM
  • UBS
Reporting currency: USD
Reporting unit: Millions
 
NO. OF
FORECASTS
FY21
CONSENSUS
23/11/20
FY21
MIN
FY21
MAX
Operating metrics
Ore mined (m wmt)
11
211.6
205.3
216.4
Ore processed (m wmt)
11
180.5
178.0
186.0
Ore shipped (m wmt)
13
178.9
175.1
184.3
C1 costs (US$/wmt)
13
13.29
12.90
13.87
Realised price (US$/dmt)
13
88.46
73.08
98.94
62% Fe CFR Platts index (US$/dmt)
13
103.21
92.82
113.30
AUD/USD
13
0.72
0.70
0.74
Income statement summary (US$m)
Iron ore revenue
12
13,948
11,803
16,260
Shipping revenue
8
1,214
450
1,535
Other revenue
5
83
0
236
Operating sales revenue
12
14,791
12,806
16,260
Cost of sales ex-depreciation & amortisation
12
(4,782)
(4,934)
(4,553)
Administration expenses
10
(120)
(200)
(80)
Other income/(expenses)
5
17
(40)
124
Underlying Ebitda
12
9,846
8,165
11,332
Depreciation & Amortisation
13
(1,424)
(1,524)
(1,337)
Net finance costs
13
(158)
(241)
(82)
Other income/(expenses).
7
(59)
(112)
0
Net profit before tax.
13
8,231
6,562
9,680
Income tax expense
13
(2,444)
(2,856)
(1,935)
Net profit after tax
13
5,788
4,594
6,825
Underlying net profit after tax
13
5,794
4,594
6,825
Per share metrics
Shares on issue, weighted (m)
12
3,081
3,079
3,093
Basic earnings per share (USc/sh)
13
187.9
149.2
221.7
Basic earnings per share (AUDc/sh)
12
262.6
207.2
310.3
Dividends per share, total (AUDc/sh)
12
182.5
104.4
220.0
Balance sheet and cash flow summary (US$m)
Total debt
13
4,272
3,179
5,585
Cash and cash equivalents
13
3,692
2,041
4,940
Net debt
13
580
(469)
2,017
Income tax paid
13
(2,553)
(3,352)
(1,423)
Net cash inflow from operating activities
13
7,083
5,365
8,137
Dividends paid
13
(4,186)
(5,014)
(3,220)
Debt proceeds/(repayments)
11
(627)
(1,572)
1,055
Sustaining capital expenditure
12
857
712
1,062
Other capital expenditure
12
2,264
1,480
2,650
Total capital expenditure (including joint operations)
12
3,121
2,198
3,369

Disclaimer

Fortescue Metals Group Ltd (Fortescue) invites registered sell-side analysts that provide research coverage of Fortescue's securities to submit their estimates, in respect of each financial reporting period, to an external web-based tool managed by Vuma Financial Limited (Vuma).

The consensus figures are aggregated, publicly available forecasts collated exclusively by Vuma, but only on the basis of information submitted by those analysts who choose to participate. The consensus figure for a particular item represents the arithmetic mean of all figures for that item submitted to Vuma by analysts. No analyst who has updated and entered their estimate into Vuma has been excluded from the aggregate consensus figures, except for data that contains a manifest error. The figures are current as at the date specified on the Vuma website and are not updated after that date.

The consensus figures reflect the opinions of third party analysts who do not have access to Fortescue’s non-public internal financial information. The consensus figures are not based on Fortescue’s opinions, estimates or forecasts and are compiled and published without comment from, or endorsement or verification by, Fortescue. Fortescue does not endorse, confirm or express a view on the consensus estimates, and Fortescue does not accept any responsibility whatsoever in relation to the information.

The consensus figures are provided for informational purposes only and they are not intended to, nor do they, constitute investment advice or any solicitation to buy, hold or sell securities or other financial instruments. In particular, the consensus figures may be forward-looking and as such are speculative and rely on assumptions and events in the future (some or all of which may not be satisfied or may not occur).