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Undervalued
Morningstar Quantitative Rating as of 5 NOV 2026.
Quantitative Equity Rating Methodology – view here
Five-star price 3.46 Fair value 4.11 One-star price 4.87
Morningstar Quantitative Rating as of 5 NOV 2026.
Morningstar Quantitative Rating as of 5 NOV 2026. The slider runs from the five-star price (3.46) to the one-star price (4.87).
| Ratios |
|---|
| Currency (Price/reporting): AUD/AUD |
| Exchange Rate: 1.0000 |
| Price - closing or last bid | 3.91 |
| Price - 12 month high | 4.78 |
| Price - 12 month low | 3.67 |
| Pricing date | 5 NOV 2026 |
| Volume - avg. trading volume for the last ten days | 2.28 |
| Market capitalization | 2,079.57 |
| 12 Month High price date | 1 JUL 2026 |
| 12 Month Low price date | 4 NOV 2026 |
| Volume - avg. trading volume for the last 3 months | 1.86 |
| Price - 1 Day % Change | 0.00% |
| Price - 13 week price percent change | -9.07% |
| Price - 26 week price percent change | -8.00% |
| Price - 5 Day % Change | -2.25% |
| Price - 52 week price percent change | 1.30% |
| Price - YTD price percent change | -3.93% |
| Price % Change Month To Date | -2.25% |
| EPS excluding extraordinary items - most recent fiscal year | 0.310 |
| EPS excluding extraordinary items - trailing 12 month | 0.310 |
| EPS Normalized - most recent fiscal year | 0.000 |
| Revenue/share - most recent fiscal year | 0.457 |
| Revenue/share - trailing 12 month | 0.457 |
| Book value per share - most recent fiscal year | 0.269 |
| Book value per share - most recent half-year | 0.269 |
| Book value (tangible) per share - most recent fiscal year | -0.235 |
| Book value (tangible) per share - most recent half-year | -0.235 |
| Cash per share - most recent fiscal year | 0.020 |
| Cash per share - most recent half-year | 0.020 |
| Cash Flow per share - most recent fiscal year | 0.320 |
| Cash Flow per share - trailing 12 month | 0.320 |
| Dividend per share - most recent fiscal year | — |
| Dividends per share - trailing 12 month | 0.232 |
| EBITD per share - trailing 12 month | 0.448 |
| EPS Basic excluding extraordinary items - most recent fiscal year | 0.310 |
| EPS Basic excluding extraordinary items - trailing 12 month | 0.310 |
| EPS including extraordinary items - most recent fiscal year | 0.310 |
| EPS including extraordinary items - trailing 12 month | 0.310 |
| Free Cash Flow per share - trailing 12 month | 0.320 |
| P/E excluding extraordinary items, most recent fiscal year | 12.63 |
| P/E Normalized, most recent fiscal year | — |
| Price to sales - most recent fiscal year | 8.55 |
| Price to Tangible Book - most fiscal year | — |
| Price to Free Cash Flow per Share - most recent fiscal year | 12.23 |
| Price to Cash Flow per share - trailing 12 month | 12.23 |
| Price to Book - most recent fiscal year | 14.51 |
| P/E excluding extraordinary items high, trailing 12 months | 15.58 |
| P/E excluding extraordinary items low, trailing 12 months | 11.05 |
| Net Debt, LFI | 149.18 |
| Net Debt, LFY | 132.78 |
| Dividend Yield - 5 Year Average | 5.93% |
| Dividend Yield - indicated annual dividend divided by closing price | 6.19% |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 5.93% |
| Free Cash Flow - most recent fiscal year | 169.53 |
| LT debt/equity - most recent fiscal year | 100.36% |
| Payout ratio - most recent fiscal year | — |
| Total debt/total equity - most recent fiscal year | 100.46% |
| LT debt/equity - most recent half-year | 112.57% |
| Total debt/total equity - most recent half-year | 112.65% |
| Free Cash Flow - trailing 12 month | 169.53 |
| Payout ratio - trailing 12 month | — |
| Revenue - most recent fiscal year | 242.40 |
| Revenue - trailing 12 month | 242.40 |
| EBITD - most recent fiscal year | 237.80 |
| EBITD - trailing 12 month | 237.80 |
| Earnings before taxes - most recent fiscal year | 225.09 |
| Earnings before taxes - trailing 12 month | 225.09 |
| Net Income available to common - most recent fiscal year | 164.21 |
| Net Income available to common - trailing 12 months | 164.21 |
| Earnings before taxes Normalized - most recent fiscal year | 216.71 |
| Net Income Available to Common, Normalized - most recent fiscal year | 0.15 |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 0.00 |
| Net Profit Margin % - 1st historical fiscal year | 67.74% |
| Net Profit Margin % - trailing 12 month | 67.74% |
| Operating margin - 1st historical fiscal year | 93.61% |
| Operating margin - trailing 12 month | 93.61% |
| Pretax margin - trailing 12 month | 92.86% |
| Pretax margin - 1st historical fiscal year | 92.86% |
| Operating Margin - 5 year average | 94.58% |
| Pretax Margin - 5 year average | 92.34% |
| Free Operating Cash Flow/Revenue, 5 Year Average | 62.96% |
| Free Operating Cash Flow/Revenue, TTM | 69.94% |
| Net Profit Margin - 5 year average | 65.01% |
| Return on average assets - most recent fiscal year | 40.04% |
| Return on average assets - trailing 12 month | 40.04% |
| Return on average equity - most recent fiscal year | 121.31% |
| Return on average equity - trailing 12 month | 121.31% |
| Return on average assets - 5 year average | 108.96% |
| Return on average equity - 5 year average | 175.08% |
| Net Income/employee - most recent fiscal year | — |
| Revenue/employee - most recent fiscal year | — |
| Revenue growth rate, 5 year | 10.79% |
| EPS growth rate, 5 year | 11.68% |
| Growth rate% - dividend, 3 year | -9.33% |
| Revenue/share (5 yr growth) | 10.73% |
| Growth rate% - Revenue, 3 year | 1.87% |
| Growth rate% - EPS, 3 year | 2.42% |
| Book value per share growth rate, 5 year | 18.20% |
| Capital Spending growth rate, 5 year | -20.83% |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | 10.83% |
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 |
Deterra is another resource business, but it comes with a James Bond-style twist. Deterra is a royalty company that generates revenue primarily from a royalty over BHP's Mining Area C iron ore operations in the Pilbara, giving investors exposure to iron ore production without the operating risks of mining.
Deterra Royalties (DRR) +3.86%: delivered a strong first-half result, supported by higher royalty revenue and steady margins. The business continues to offer a simple, high-margin, Iron Ore royalty exposure with a consistent dividend framework.
DRR has struggled over the last few days as iron ore royalties fell by ~25% in line with the underlying bulk commodity. DRR is a royalty scheme from one of BHP’s assets and the company simply passes 100% of the earnings through as a dividend, we do like DRR as a dividend play and it’s definitely an alternative to the large miners who can come with higher operational risk. When Iron Ore bottoms, this will be a good way to play upside in the sector.
DRR is simply a royalty stream from a Rio Tinto mine which means there is now operational risk inherent in the business. The royalty stream was actually part of Iluka Resources (ILU) until it was spun out back in 2020. As a consequence, Deterra pays out 100% of its earnings as dividends with a projected 3.5% fully franked yield, although clearly...
MM is bullish towards DRR around $4.50
MM is mildly bullish DRR for yield ~$4.30
MM is neutral DRR around $4
MM likes DRR when iron ore finds a base
MM likes DRR around $4
Deterra Royalties was spun out from Iluka Resources in October 2020, with Iluka retaining a 20% interest. Its only material income-generating asset is a royalty covering iron ore produced by BHP from the Mining Area C royalty area in Western Australia. This includes the North Flank mine, producing around 60 million metric tons of iron ore a year, and the South Flank mine, which produces around 80 million metric tons. It also covers most of the Tandanya and Mudlark deposits, which BHP intends to develop in the longer term as part of its plan to operate the MAC production hub for at least 50 years. Consistent with its strategy to grow into a diversified royalty firm, its Trident Royalties and Santa Cruz royalty purchases are likely to provide moderate diversification from iron ore.
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