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Fortescue is an Australia-based iron ore miner. It has grown from obscurity start of 2008 to become the world's fourth-largest producer. Growth was fueled by debt, now repaid. Expansion from 55 million metric tons in fiscal 2012 to about 190 million metric tons in 2024 means Fortescue supplies around 10% of global seaborne iron ore. Further expansion above 200 million metric tons is likely once its 22 million metric ton Iron Bridge magnetite mine ramps up, likely in 2026 or 2027. However, with longer-term demand likely to decline as China's economy matures, Fortescue's future margins are likely to be below historical averages. More recently, Fortescue diversified into green energy, with ambitions to become a major supplier of green hydrogen and green ammonia. Its efforts are early stage.
1983
21.0K+
LTM Revenue $23.3B
LTM EBITDA $11.5B
$34.8B
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Fortescue has a last 12-month revenue (LTM) of $23.3B and a last 12-month EBITDA of $11.5B.
In the most recent fiscal year, Fortescue achieved revenue of $11.9B and an EBITDA of $6.9B.
Fortescue expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Fortescue valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $23.3B | XXX | $11.9B | XXX | XXX | XXX |
| Gross Profit | $12.5B | XXX | $7.6B | XXX | XXX | XXX |
| Gross Margin | 54% | XXX | 64% | XXX | XXX | XXX |
| EBITDA | $11.5B | XXX | $6.9B | XXX | XXX | XXX |
| EBITDA Margin | 49% | XXX | 58% | XXX | XXX | XXX |
| EBIT | $7.8B | XXX | $5.5B | XXX | XXX | XXX |
| EBIT Margin | 33% | XXX | 46% | XXX | XXX | XXX |
| Net Profit | $5.1B | XXX | $3.7B | XXX | XXX | XXX |
| Net Margin | 22% | XXX | 31% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | n/a | XXX | XXX | XXX |
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As of July 9, 2025, Fortescue's stock price is AUD 16 (or $11).
Fortescue has current market cap of AUD 50.0B (or $32.7B), and EV of AUD 53.1B (or $34.8B).
See Fortescue trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $34.8B | $32.7B | XXX | XXX | XXX | XXX | $1.09 |
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Start Free TrialAs of July 9, 2025, Fortescue has market cap of $32.7B and EV of $34.8B.
Fortescue's trades at 2.6x EV/Revenue multiple, and 4.8x EV/EBITDA.
Equity research analysts estimate Fortescue's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Fortescue has a P/E ratio of 9.8x.
See valuation multiples for Fortescue and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $32.7B | XXX | $32.7B | XXX | XXX | XXX |
| EV (current) | $34.8B | XXX | $34.8B | XXX | XXX | XXX |
| EV/Revenue | 2.3x | XXX | 2.6x | XXX | XXX | XXX |
| EV/EBITDA | 4.6x | XXX | 4.8x | XXX | XXX | XXX |
| EV/EBIT | 6.8x | XXX | 6.6x | XXX | XXX | XXX |
| EV/Gross Profit | 4.2x | XXX | n/a | XXX | XXX | XXX |
| P/E | 9.8x | XXX | 9.2x | XXX | XXX | XXX |
| EV/FCF | 18.0x | XXX | 13.2x | XXX | XXX | XXX |
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Start Free TrialFortescue's last 12 month revenue growth is -5%
Fortescue's revenue per employee in the last FY averaged $0.6M, while opex per employee averaged $0.1M for the same period.
Fortescue's rule of 40 is 50% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Fortescue's rule of X is 36% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for Fortescue and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | -5% | XXX | 3% | XXX | XXX | XXX |
| EBITDA Margin | 49% | XXX | 53% | XXX | XXX | XXX |
| EBITDA Growth | -10% | XXX | 7% | XXX | XXX | XXX |
| Rule of 40 | 50% | XXX | 48% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 36% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.6M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $0.1M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 17% | XXX | XXX | XXX |
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| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| AMG Critical Materials | XXX | XXX | XXX | XXX | XXX | XXX |
| ArcelorMittal | XXX | XXX | XXX | XXX | XXX | XXX |
| BHP Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Coronado Global Resources | XXX | XXX | XXX | XXX | XXX | XXX |
| Northern Star Resources | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Fortescue acquired XXX companies to date.
Last acquisition by Fortescue was XXXXXXXX, XXXXX XXXXX XXXXXX . Fortescue acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Start Free Trial| When was Fortescue founded? | Fortescue was founded in 1983. |
| Where is Fortescue headquartered? | Fortescue is headquartered in Australia. |
| How many employees does Fortescue have? | As of today, Fortescue has 21.0K+ employees. |
| Is Fortescue publicy listed? | Yes, Fortescue is a public company listed on ASX. |
| What is the stock symbol of Fortescue? | Fortescue trades under FMG ticker. |
| When did Fortescue go public? | Fortescue went public in 1987. |
| Who are competitors of Fortescue? | Similar companies to Fortescue include e.g. AMG Critical Materials, ArcelorMittal, BHP Group, Coronado Global Resources. |
| What is the current market cap of Fortescue? | Fortescue's current market cap is $32.7B |
| What is the current revenue of Fortescue? | Fortescue's last 12 months revenue is $23.3B. |
| What is the current revenue growth of Fortescue? | Fortescue revenue growth (NTM/LTM) is -5%. |
| What is the current EV/Revenue multiple of Fortescue? | Current revenue multiple of Fortescue is 2.3x. |
| Is Fortescue profitable? | Yes, Fortescue is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Fortescue? | Fortescue's last 12 months EBITDA is $11.5B. |
| What is Fortescue's EBITDA margin? | Fortescue's last 12 months EBITDA margin is 49%. |
| What is the current EV/EBITDA multiple of Fortescue? | Current EBITDA multiple of Fortescue is 4.6x. |
| What is the current FCF of Fortescue? | Fortescue's last 12 months FCF is $2.9B. |
| What is Fortescue's FCF margin? | Fortescue's last 12 months FCF margin is 13%. |
| What is the current EV/FCF multiple of Fortescue? | Current FCF multiple of Fortescue is 18.0x. |
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