IGO Ltd (ASX: IGO) $7.03
Another similar picture, IGO may be a very low-cost lithium producer benefiting from Greenbushes' exceptional ore grade, but it will still struggle if Li prices continue to slip lower.
IGO Ltd (IGO)
IGO $5.26
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Performance
Advanced charting functionality with the ability to amend timeframes, chart type & indicator selection, powered by TradingView.
Share price activity
Displays share price activity. Volume = number of shares traded, Turnover = value of shares traded, VWAP = volume-weighted average price for the day, sourced from Morningstar.
- Last (Price)
- 5.26
- Change
- ▲ 0.06 (1.06)
- Bid / Ask
- 5.25 - 5.26
- Volume
- 7,701,187
- Turnover
- 21,878,388
- Open
- 5.33
- Day Range
- 5.18 - 5.35
- VWAP
- 5.22
- Prev Close
- 5.20
- Last Trade
- 10/11 2:39pm
Key information
Displays key information on the security, sourced from Morningstar.
- Sector
- Basic Materials
- Shares Issued
- 757,267,813
- NTA/Share
- 2.96
- Last Dividend
- 0.05
- Dividend Ex Date
- 9 SEP 2026
- Dividend Pay Date
- 30 SEP 2026
Current (AUD) · FY2026
Displays key financial data for the most recent fiscal year, in millions. Note - Per share data is in local currency terms irrespective of reporting currency, and may be different to the stated currency, sourced from Morningstar.
- Revenue
- 448.90
- EBITDA
- 322.20
- Profit
- 145.30
- Earnings Per Share (EPS)
- 0.19
- Dividend Per Share (DPS)
- —
- Yield %
- 1.01
- Market Cap
- 3,979.44
- Price to Earnings Ratio (P/E)
- 27.59
Estimates (AUD) · FY2027
Displays consensus analyst’s estimates for key measures for the next fiscal year, sourced from Morningstar.
- Revenue
- 188.90
- EBITDA
- 379.80
- Profit
- 335.09
- Earnings Per Share (EPS)
- 0.44
- Dividend Per Share (DPS)
- 0.08
Quantitative rating
Displays Morningstar’s Quantitative Equity Research Rating for the security: a star rating from 1 (overvalued) to 5 (undervalued) from the share price against a fair value estimated by a statistical model of Morningstar’s analyst ratings, with the model’s economic moat, financial health and fair value uncertainty, sourced from Morningstar.
Undervalued
- Economic Moat
- Narrow
- Financial Health
- Moderate
- Uncertainty
- High
Morningstar Quantitative Rating as of 6 NOV 2026.
Quantitative Equity Rating Methodology – view here
Fair value estimate
Displays Morningstar’s quantitative fair value estimate for the security against the current share price, with the band around it: the five-star price below which the model would rate the stock five stars and the one-star price above which it would rate it one star, sourced from Morningstar.
Five-star price 4.61 Fair value 5.48 One-star price 6.50
Morningstar Quantitative Rating as of 6 NOV 2026.
Quantitative valuation
Displays where the share price sits in Morningstar’s quantitative fair value band, from the five-star price (undervalued) to the one-star price (overvalued), with the fair value estimate, the price to fair value ratio, the model’s valuation label and its uncertainty rating, sourced from Morningstar.
Buy
Sell
- Fair Value
- 5.48
- Price / Fair Value
- 0.91
- Valuation
- Undervalued
- Uncertainty
- High
Morningstar Quantitative Rating as of 6 NOV 2026. The slider runs from the five-star price (4.61) to the one-star price (6.50).
Displays useful ratios for the security, NB the pricing date used, sourced from Morningstar.
| Ratios |
|---|
| Currency (Price/reporting): AUD/AUD |
| Exchange Rate: 1.0000 |
Price, volume and trading statistics for the security, sourced from Morningstar.
| Price - closing or last bid | 4.96 |
| Price - 12 month high | 10.05 |
| Price - 12 month low | 4.77 |
| Pricing date | 5 NOV 2026 |
| Volume - avg. trading volume for the last ten days | 6.04 |
| Market capitalization | 3,756.05 |
| 12 Month High price date | 1 JUN 2026 |
| 12 Month Low price date | 23 OCT 2026 |
| Volume - avg. trading volume for the last 3 months | 3.68 |
| Price - 1 Day % Change | -5.88% |
| Price - 13 week price percent change | -31.11% |
| Price - 26 week price percent change | -34.56% |
| Price - 5 Day % Change | -5.52% |
| Price - 52 week price percent change | -1.98% |
| Price - YTD price percent change | -39.51% |
| Price % Change Month To Date | -22.74% |
Earnings, dividends, cash flow and book value per share, sourced from Morningstar.
| EPS excluding extraordinary items - most recent fiscal year | 0.191 |
| EPS excluding extraordinary items - trailing 12 month | 0.191 |
| EPS Normalized - most recent fiscal year | 0.143 |
| Revenue/share - most recent fiscal year | 0.589 |
| Revenue/share - trailing 12 month | 0.589 |
| Book value per share - most recent fiscal year | 2.958 |
| Book value per share - most recent half-year | 2.958 |
| Book value (tangible) per share - most recent fiscal year | 2.958 |
| Book value (tangible) per share - most recent half-year | 2.958 |
| Cash per share - most recent fiscal year | 0.510 |
| Cash per share - most recent half-year | 0.510 |
| Cash Flow per share - most recent fiscal year | 0.174 |
| Cash Flow per share - trailing 12 month | 0.174 |
| Dividend per share - most recent fiscal year | — |
| Dividends per share - trailing 12 month | 0.050 |
| EBITD per share - trailing 12 month | 0.422 |
| EPS Basic excluding extraordinary items - most recent fiscal year | 0.192 |
| EPS Basic excluding extraordinary items - trailing 12 month | 0.192 |
| EPS including extraordinary items - most recent fiscal year | 0.192 |
| EPS including extraordinary items - trailing 12 month | 0.192 |
| Free Cash Flow per share - trailing 12 month | 0.166 |
Valuation multiples such as P/E, price to sales, price to book and enterprise value ratios, sourced from Morningstar.
| P/E excluding extraordinary items, most recent fiscal year | 26.04 |
| P/E Normalized, most recent fiscal year | 34.68 |
| Price to sales - most recent fiscal year | 8.43 |
| Price to Tangible Book - most fiscal year | 1.68 |
| Price to Free Cash Flow per Share - most recent fiscal year | 29.95 |
| Price to Cash Flow per share - trailing 12 month | 28.57 |
| Price to Book - most recent fiscal year | 1.68 |
| P/E excluding extraordinary items high, trailing 12 months | 45.62 |
| P/E excluding extraordinary items low, trailing 12 months | 25.04 |
| Net Debt, LFI | -390.00 |
| Net Debt, LFY | -468.80 |
| Dividend Yield - 5 Year Average | 1.70% |
| Dividend Yield - indicated annual dividend divided by closing price | 1.03% |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 1.01% |
Cash flow, liquidity and leverage measures, sourced from Morningstar.
| Free Cash Flow - most recent fiscal year | 126.30 |
| LT debt/equity - most recent fiscal year | 0.07% |
| Payout ratio - most recent fiscal year | — |
| Total debt/total equity - most recent fiscal year | 0.75% |
| LT debt/equity - most recent half-year | 0.04% |
| Total debt/total equity - most recent half-year | 1.02% |
| Free Cash Flow - trailing 12 month | 126.30 |
| Payout ratio - trailing 12 month | — |
Key income statement lines for the most recent fiscal year, in millions, sourced from Morningstar.
| Revenue - most recent fiscal year | 448.90 |
| Revenue - trailing 12 month | 448.90 |
| EBITD - most recent fiscal year | 322.20 |
| EBITD - trailing 12 month | 322.20 |
| Earnings before taxes - most recent fiscal year | 141.20 |
| Earnings before taxes - trailing 12 month | 141.20 |
| Net Income available to common - most recent fiscal year | 145.30 |
| Net Income available to common - trailing 12 months | 145.30 |
| Earnings before taxes Normalized - most recent fiscal year | 114.70 |
| Net Income Available to Common, Normalized - most recent fiscal year | 109.10 |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 0.14 |
Profitability margins for the most recent fiscal year, sourced from Morningstar.
| Net Profit Margin % - 1st historical fiscal year | 32.37% |
| Net Profit Margin % - trailing 12 month | 32.37% |
| Operating margin - 1st historical fiscal year | -23.95% |
| Operating margin - trailing 12 month | -23.95% |
| Pretax margin - trailing 12 month | 31.45% |
| Pretax margin - 1st historical fiscal year | 31.45% |
| Operating Margin - 5 year average | -38.83% |
| Pretax Margin - 5 year average | -12.92% |
| Free Operating Cash Flow/Revenue, 5 Year Average | 59.11% |
| Free Operating Cash Flow/Revenue, TTM | 28.14% |
| Net Profit Margin - 5 year average | -12.42% |
Returns on average assets and equity for the fiscal year, the trailing 12 months and as 5 year averages, and net income and revenue per employee in whole currency, sourced from Morningstar.
| Return on average assets - most recent fiscal year | 6.14% |
| Return on average assets - trailing 12 month | 6.14% |
| Return on average equity - most recent fiscal year | 6.82% |
| Return on average equity - trailing 12 month | 6.82% |
| Return on average assets - 5 year average | -2.06% |
| Return on average equity - 5 year average | -1.58% |
| Net Income/employee - most recent fiscal year | — |
| Revenue/employee - most recent fiscal year | — |
Growth in revenue, earnings, dividends and book value over recent periods, sourced from Morningstar.
| Revenue growth rate, 5 year | -6.25% |
| EPS growth rate, 5 year | -25.04% |
| Growth rate% - dividend, 3 year | — |
| Revenue/share (5 yr growth) | -8.34% |
| Growth rate% - Revenue, 3 year | -24.66% |
| Growth rate% - EPS, 3 year | -35.88% |
| Book value per share growth rate, 5 year | -6.88% |
| Capital Spending growth rate, 5 year | -42.22% |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | -1.96% |
Displays analyst’s forecasts for key measures. The estimates can be expanded to see the spread of the calls. Full lines = reported, and dotted lines are forward estimates. Click a measure to add or remove it from the chart, sourced from Morningstar.
Financial forecast (AUD, millions except per share)
| Actuals | Estimates | |||||||
| 2026 | 2027 | 2028 | 2029 | |||||
| Estimate breakdown | ||||||||
Financial metrics can be plotted on the graph to see trends. Multiple metrics from multiple statements can be plotted against each other, sourced from Morningstar.
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 |
Displays all company announcements released by the company to the exchange, sourced from Morningstar.
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
Opinion
IGO Ltd (ASX: IGO) $6.60
Last week, IGO announced the sale of its Nova nickel operation in Western Australia to Global Lithium Resources (ASX: GL1) for just $7 million, comprising $3 million in cash, $2 million in GL1 shares and $2 million in deferred cash. The sale marks IGO's latest exit from nickel, following the divestment of its Forrestania operations, as CEO Ivan Vella continues to reposition the company towards lithium and copper through exploration and partnerships rather than acquisitions.
IGO Ltd (ASX: IGO) $8.40
Nickel/lithium miner IGO was in the news yesterday following a fire at its Greenbushes lithium plant, although the company has since said production remains on track to meet FY26 guidance. Over the past year, IGO has been a classic “world-class asset, execution headache” story, which is unfortunately not an isolated theme across the ASX mining sector.
IGO Ltd (IGO) $8.04
Nickel/lithium miner IGO reported an “ok” result last week, but its still losing money – covered Here. Again the stock looks interesting after retracing 18%, largely following the lithium price lower, while it’s not our top pick, further strength would not be a surprise.
IGO (IGO) $7.88
IGO –5.1%: Still losing money although underlying EBITDA returned to the black. Balance sheet is good but hard to get too excited over this one.
IGO Ltd (IGO) $5.67
IGO has endured a shocking few years after paying a crazy price for the nickel business Western Areas (WSA) in 2021, only to watch prices collapse.
IGO Ltd (IGO) $4.12
IGO tumbled 14% on Wednesday following the CATL news, one of four stocks to end the day down 14% or more. The company delivered a disappointing 4Q result, including weak lithium production and softer cash flow.
IGO Ltd (IGO) $5.43
Last month’s 4Q results were mixed, with strong performance from Nova Nickel project more than offset by weaker lithium production and softer cash flow. Disappointingly FY26 guidance points to a slower ramp-up at Greenbushes and elevated costs at Nova with the weaker-than-expected production guidance reflecting delays and ongoing ramp-up issues.
IGO Ltd (IGO) $4.64
IGO -7.2%: 4Q results were mixed, with strong performance from Nova Nickel project more than offset by weaker lithium spodumene Greenbushes production and softer cash flow.
IGO Ltd (IGO) $5.00
Yesterday saw IGO endure a sharp -6.7% pullback as lithium related names came under the hammer. However, IGO is a low-cost currently profitable producer which will benefit from further strength in lithium prices with a far higher degree of certainty than some of its peers.
Action
Updated
17/09/2026
11:55
IGO
Updated 17/09/2026 11:55
MM is neutral towards IGO around $7.00
Updated
21/07/2026
09:44
IGO
Updated 21/07/2026 09:44
MM is cautiously bullish towards IGO around $6.50
Updated
11/06/2026
09:31
IGO
Updated 11/06/2026 09:31
MM is neutral towards IGO around $8.40
Updated
24/02/2026
09:50
IGO
Updated 24/02/2026 09:50
MM is neutral towards IGO around $8
Updated
19/02/2026
17:10
IGO
Updated 19/02/2026 17:10
MM is neutral IGO ~8.00
Updated
28/10/2025
10:21
IGO
Updated 28/10/2025 10:21
MM is cautiously bullish towards IGO
Updated
11/09/2025
09:38
IGO
Updated 11/09/2025 09:38
MM remains neutral towards IGO
Updated
13/08/2025
09:57
IGO
Updated 13/08/2025 09:57
MM remains neutral towards IGO
Updated
30/07/2025
17:29
IGO
Updated 30/07/2025 17:29
MM has turned neutral toward IGO
Updated
29/07/2025
09:17
IGO
Updated 29/07/2025 09:17
MM is cautiously bullish towards IGO ~$4.75
Business Summary
IGO is a mining and exploration company based in Western Australia. Its primary asset is a minority stake in the Greenbushes lithium mine through a joint venture with Tianqi Lithium and Albemarle. Greenbushes is the world's lowest-cost hard rock lithium resource. IGO also has an interest in downstream processing through a 49% stake in the Kwinana lithium hydroxide refinery. Outside of lithium, IGO owns and operates the Nova nickel-copper-cobalt mine, which has a short remaining life.
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