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Fortescue Valuation Multiples

Discover revenue and EBITDA valuation multiples for Fortescue and similar public comparables like Coronado Global Resources, BHP Group, and Northern Star Resources.

Fortescue Overview

About Fortescue

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.


Founded

1983

HQ

Australia
Employees

21.0K+

Website

fortescue.com

Sectors

Metals & Mining

Financials

LTM Revenue $23.2B

LTM EBITDA $11.4B

EV

$32.8B

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Fortescue Financials

Fortescue has a last 12-month revenue (LTM) of $23.2B and a last 12-month EBITDA of $11.4B.

In the most recent fiscal year, Fortescue achieved revenue of $11.8B and an EBITDA of $6.9B.

Fortescue expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Fortescue P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $23.2B XXX $11.8B XXX XXX XXX
Gross Profit $12.4B XXX $7.5B XXX XXX XXX
Gross Margin 54% XXX 64% XXX XXX XXX
EBITDA $11.4B XXX $6.9B XXX XXX XXX
EBITDA Margin 49% XXX 58% XXX XXX XXX
EBIT $7.7B 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

Financial data powered by Morningstar, Inc.

Fortescue Stock Performance

As of July 1, 2025, Fortescue's stock price is AUD 15 (or $10).

Fortescue has current market cap of AUD 47.0B (or $30.7B), and EV of AUD 50.2B (or $32.8B).

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Fortescue Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$32.8B $30.7B XXX XXX XXX XXX $1.08

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Fortescue Valuation Multiples

As of July 1, 2025, Fortescue has market cap of $30.7B and EV of $32.8B.

Fortescue's trades at 2.4x EV/Revenue multiple, and 4.6x 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 9.3x.

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Fortescue Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $30.7B XXX $30.7B XXX XXX XXX
EV (current) $32.8B XXX $32.8B XXX XXX XXX
EV/Revenue 2.2x XXX 2.4x XXX XXX XXX
EV/EBITDA 4.4x XXX 4.6x XXX XXX XXX
EV/EBIT 6.5x XXX 6.2x XXX XXX XXX
EV/Gross Profit 4.0x XXX n/a XXX XXX XXX
P/E 9.3x XXX 8.8x XXX XXX XXX
EV/FCF 17.5x XXX 12.6x XXX XXX XXX

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Fortescue Margins & Growth Rates

Fortescue's last 12 month revenue growth is -6%

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 49% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Fortescue's rule of X is 35% (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).

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Fortescue Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth -6% XXX 2% XXX XXX XXX
EBITDA Margin 49% XXX 53% XXX XXX XXX
EBITDA Growth -11% XXX 6% XXX XXX XXX
Rule of 40 49% XXX 47% XXX XXX XXX
Bessemer Rule of X XXX XXX 35% 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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Fortescue Public Comps

See public comps and valuation multiples for Metals & Mining comps
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 M&A and Investment Activity

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 ).

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Latest Acquisitions by Fortescue

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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About Fortescue

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 $30.7B
What is the current revenue of Fortescue? Fortescue's last 12 months revenue is $23.2B.
What is the current revenue growth of Fortescue? Fortescue revenue growth (NTM/LTM) is -6%.
What is the current EV/Revenue multiple of Fortescue? Current revenue multiple of Fortescue is 2.2x.
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 $11.4B.
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 4.4x.
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 12%.
What is the current EV/FCF multiple of Fortescue? Current FCF multiple of Fortescue is 17.5x.

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