Whitehaven Coal (WHC)
WHC $7.26
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Performance
Share price activity
- Last (Price)
- 7.26
- Change
- ▼ -0.02 (-0.27)
- Bid / Ask
- 7.26 - 7.27
- Volume
- 3,729,042
- Turnover
- 20,683,645
- Open
- 7.42
- Day Range
- 7.26 - 7.50
- VWAP
- 7.34
- Prev Close
- 7.28
- Last Trade
- 13/11 4:10pm
Key information
- Sector
- Energy
- Shares Issued
- 820,541,486
- NTA/Share
- 7.16
- Last Dividend
- 0.06
- Dividend Ex Date
- 2 SEP 2026
- Dividend Pay Date
- 15 SEP 2026
Current (AUD) · FY2026
- Revenue
- 5,401.00
- EBITDA
- 1,443.00
- Profit
- 385.00
- Earnings Per Share (EPS)
- 0.48
- Dividend Per Share (DPS)
- 0.10
- Yield %
- 1.38
- Market Cap
- 5,957.13
- Price to Earnings Ratio (P/E)
- 15.13
Estimates (AUD) · FY2027
- Revenue
- —
- EBITDA
- —
- Profit
- 602.65
- Earnings Per Share (EPS)
- 0.74
- Dividend Per Share (DPS)
- 0.22
Quantitative rating
Undervalued
- Economic Moat
- None
- Financial Health
- Moderate
- Uncertainty
- High
Morningstar Quantitative Rating as of 12 NOV 2026.
Quantitative Equity Rating Methodology – view here
Fair value estimate
Five-star price 7.65 Fair value 9.02 One-star price 10.64
Morningstar Quantitative Rating as of 12 NOV 2026.
Quantitative valuation
- Fair Value
- 9.02
- Price / Fair Value
- 0.81
- Valuation
- Undervalued
- Uncertainty
- High
Morningstar Quantitative Rating as of 12 NOV 2026. The slider runs from the five-star price (7.65) to the one-star price (10.64).
| Ratios |
|---|
| Currency (Price/reporting): AUD/AUD |
| Exchange Rate: 1.0000 |
| Price - closing or last bid | 7.26 |
| Price - 12 month high | 9.90 |
| Price - 12 month low | 6.66 |
| Pricing date | 12 NOV 2026 |
| Volume - avg. trading volume for the last ten days | 4.17 |
| Market capitalization | 5,957.13 |
| 12 Month High price date | 30 MAR 2026 |
| 12 Month Low price date | 21 NOV 2025 |
| Volume - avg. trading volume for the last 3 months | 4.50 |
| Price - 1 Day % Change | -0.27% |
| Price - 13 week price percent change | -5.71% |
| Price - 26 week price percent change | -5.47% |
| Price - 5 Day % Change | 0.00% |
| Price - 52 week price percent change | 3.57% |
| Price - YTD price percent change | -6.32% |
| Price % Change Month To Date | -6.68% |
| EPS excluding extraordinary items - most recent fiscal year | 0.480 |
| EPS excluding extraordinary items - trailing 12 month | 0.480 |
| EPS Normalized - most recent fiscal year | 0.283 |
| Revenue/share - most recent fiscal year | 6.734 |
| Revenue/share - trailing 12 month | 6.734 |
| Book value per share - most recent fiscal year | 7.191 |
| Book value per share - most recent half-year | 7.191 |
| Book value (tangible) per share - most recent fiscal year | 7.158 |
| Book value (tangible) per share - most recent half-year | 7.158 |
| Cash per share - most recent fiscal year | 0.946 |
| Cash per share - most recent half-year | 0.946 |
| Cash Flow per share - most recent fiscal year | 1.068 |
| Cash Flow per share - trailing 12 month | 1.068 |
| Dividend per share - most recent fiscal year | — |
| Dividends per share - trailing 12 month | 0.100 |
| EBITD per share - trailing 12 month | 1.799 |
| EPS Basic excluding extraordinary items - most recent fiscal year | 0.486 |
| EPS Basic excluding extraordinary items - trailing 12 month | 0.486 |
| EPS including extraordinary items - most recent fiscal year | 0.486 |
| EPS including extraordinary items - trailing 12 month | 0.486 |
| Free Cash Flow per share - trailing 12 month | 0.626 |
| P/E excluding extraordinary items, most recent fiscal year | 15.13 |
| P/E Normalized, most recent fiscal year | 25.65 |
| Price to sales - most recent fiscal year | 1.08 |
| Price to Tangible Book - most fiscal year | 1.01 |
| Price to Free Cash Flow per Share - most recent fiscal year | 11.60 |
| Price to Cash Flow per share - trailing 12 month | 6.79 |
| Price to Book - most recent fiscal year | 1.01 |
| P/E excluding extraordinary items high, trailing 12 months | 18.71 |
| P/E excluding extraordinary items low, trailing 12 months | 8.40 |
| Net Debt, LFI | 858.00 |
| Net Debt, LFY | 1,544.00 |
| Dividend Yield - 5 Year Average | 2.74% |
| Dividend Yield - indicated annual dividend divided by closing price | 1.38% |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 1.38% |
| Free Cash Flow - most recent fiscal year | 502.00 |
| LT debt/equity - most recent fiscal year | 36.92% |
| Payout ratio - most recent fiscal year | — |
| Total debt/total equity - most recent fiscal year | 39.27% |
| LT debt/equity - most recent half-year | 31.97% |
| Total debt/total equity - most recent half-year | 34.20% |
| Free Cash Flow - trailing 12 month | 502.00 |
| Payout ratio - trailing 12 month | — |
| Revenue - most recent fiscal year | 5,401.00 |
| Revenue - trailing 12 month | 5,401.00 |
| EBITD - most recent fiscal year | 1,443.00 |
| EBITD - trailing 12 month | 1,443.00 |
| Earnings before taxes - most recent fiscal year | 491.00 |
| Earnings before taxes - trailing 12 month | 491.00 |
| Net Income available to common - most recent fiscal year | 385.00 |
| Net Income available to common - trailing 12 months | 385.00 |
| Earnings before taxes Normalized - most recent fiscal year | 488.00 |
| Net Income Available to Common, Normalized - most recent fiscal year | 227.00 |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 0.28 |
| Net Profit Margin % - 1st historical fiscal year | 7.13% |
| Net Profit Margin % - trailing 12 month | 7.13% |
| Operating margin - 1st historical fiscal year | 10.33% |
| Operating margin - trailing 12 month | 10.33% |
| Pretax margin - trailing 12 month | 9.09% |
| Pretax margin - 1st historical fiscal year | 9.09% |
| Operating Margin - 5 year average | 33.71% |
| Pretax Margin - 5 year average | 31.45% |
| Free Operating Cash Flow/Revenue, 5 Year Average | 23.63% |
| Free Operating Cash Flow/Revenue, TTM | 9.29% |
| Net Profit Margin - 5 year average | 22.24% |
| Return on average assets - most recent fiscal year | 3.33% |
| Return on average assets - trailing 12 month | 3.33% |
| Return on average equity - most recent fiscal year | 6.67% |
| Return on average equity - trailing 12 month | 6.67% |
| Return on average assets - 5 year average | 16.46% |
| Return on average equity - 5 year average | 25.54% |
| Net Income/employee - most recent fiscal year | — |
| Revenue/employee - most recent fiscal year | — |
| Revenue growth rate, 5 year | 28.24% |
| EPS growth rate, 5 year | — |
| Growth rate% - dividend, 3 year | -48.21% |
| Revenue/share (5 yr growth) | 33.94% |
| Growth rate% - Revenue, 3 year | -3.79% |
| Growth rate% - EPS, 3 year | -45.88% |
| Book value per share growth rate, 5 year | 22.37% |
| Capital Spending growth rate, 5 year | 31.33% |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | — |
Financial forecast (AUD, millions except per share)
| Actuals | Estimates | |||||||
| 2026 | 2027 | 2028 | ||||||
| Estimate breakdown | ||||||||
Financials (AUD, millions)
| Period end: | JUN 22 | JUN 23 | JUN 24 | JUN 25 | JUN 26 |
| Fiscal year: | 2022 | 2023 | 2024 | 2025 | 2026 |
| Period length: | 12 months | 12 months | 12 months | 12 months | 12 months |
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
Opinion
Whitehaven Coal Ltd (ASX: WHC) $7.93
Whitehaven has been the ugly cousin compared to New Hope (NHC) in 2026, with WHC only marginally ahead YTD. NHC has been supported by its direct exposure to thermal coal prices, which have benefited from the US–Iran conflict. Its low-cost Bengalla operation provides leverage to stronger thermal coal prices, while the ramp-up at New Acland helped lift FY26 saleable production by 7.6% to 11.5Mt. WHC’s greater exposure to metallurgical coal following its Daunia and Blackwater acquisitions has limited its participation in the thermal coal rally.
Whitehaven Coal Ltd (ASX: WHC) $8.55
Whitehaven’s FY26 was understandably softer as weaker coal prices through most of FY26 weighed on earnings, with revenue of A$5.40bn, EBITDA down 8% to A$1.25bn and operating cash flow down 16% to A$1.06bn, alongside a 6c final dividend.
Whitehaven Coal (ASX: WHC) $7.55
WHC -2.71%: FY26 numbers were understandably softer, with lower coal prices driving earnings down, but we think looking in the rear-view mirror misses the more interesting part of the story. FY27 should benefit from cost initiatives, improved rail pricing and materially lower financing costs, while the company is again buying back stock.
Whitehaven Coal Ltd (ASX: WHC) $8.87
Whitehaven Coal was a standout performer on Monday driving +8.7% higher, taking to stock back towards its eight week high. WHC delivered a solid March quarter update, covered here, which showed the miner was on track to meet the upper half of it FY26 guidance.
Commodities – Coal
In 2022, as is the case today, energy stocks led the market, with the US-Iran conflict helping the sector rally +27% so far this year. Energy remains the most direct inflation trade: company revenues rise with commodity prices, while much of the cost base is largely fixed, particularly where wells and mines are already developed, releasing a surge of free cash flow. However, there is another positive factor in play today: the enormous energy demand expected from AI.
Whitehaven Coal (ASX: WHC) $8.00
WHC +3.9%: delivered a solid March-quarter operational update, with production and sales trending higher and the company tracking toward the upper end of FY26 guidance.
Whitehaven Coal Ltd (ASX: WHC) $8.50
Global coal consumption is expected to remain broadly stable as rising electricity demand from EVs and data centres is offset by the continued expansion of renewables. The wildcard in the near term is the Middle East conflict, which has already provided a temporary boost — coal surged more than 20% in March as power generators across Asia and Europe switched away from gas, with Japan signalling plans to ramp up coal-fired generation to offset the energy shock.
Whitehaven Coal Ltd (ASX: WHC) $9.84
WHC has advanced +26% so far in 2026, taking it back toward its 2022 $11 high. The company delivered a solid result in February Here, but we are conscious that the stock is now approaching our medium-term target price as the war creates renewed interest in the sector. With cash generation and buybacks helping underpin the stock, and earnings highly leveraged to rising coal prices, there’s nothing not to like at present; however, as we all know, commodities are cyclical, and when they look their best, it can be time to trim.
Whitehaven Coal Ltd (WHC) $8.85
WHC is gaining momentum as coal prices push higher and although its ~10% below this year’s high, following its solid result last month we’re optimistic the miner through 2026. With cash generation and buybacks helping underpin the stock, and earnings highly leveraged to rising coal prices, there’s nothing not to like at present - hopefully not famous last words!
Action
MM remains long and bullish WHC
MM is long and bullish towards WHC
MM is long and bullish towards WHC
MM remains long and bullish WHC
MM is long and bullish on Whitehaven Coal around $8.90
MM is long and bullish on Whitehaven Coal around $8
MM remains long & bullish WHC ~$8
MM is long and bullish towards WHC around $8.50
MM is now cautiously bullish towards WHC around $9.80
MM is trimming WHC in the Active Growth Portfolio ~$9.20, reinforcing our 4% target weight
Business Summary
Whitehaven Coal is a large Australian independent thermal and metallurgical coal miner with mines in the Gunnedah Basin, New South Wales. It also bought Blackwater and Daunia, two coking coal mines in Queensland, from BHP and Mitsubishi inApril 2024. In addition, it owns the large Winchester South deposit next to its Daunia mine. Coal is railed to ports in Newcastle and Queensland for export to Asian customers. Initial production from Vickery and expanded production at its Queensland mines, Maules Creek, and Narrabri means we expect its share of salable coal production to approach 31 million metric tons from fiscal 2031, from about 13 million in fiscal 2023.
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