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Undervalued
Morningstar Quantitative Rating as of 29 OCT 2026.
Quantitative Equity Rating Methodology – view here
Five-star price 6.57 Fair value 7.85 One-star price 9.39
Morningstar Quantitative Rating as of 29 OCT 2026.
Morningstar Quantitative Rating as of 29 OCT 2026. The slider runs from the five-star price (6.57) to the one-star price (9.39).
| Ratios |
|---|
| Currency (Price/reporting): AUD/AUD |
| Exchange Rate: 1.0000 |
| Price - closing or last bid | 6.12 |
| Price - 12 month high | 9.06 |
| Price - 12 month low | 4.76 |
| Pricing date | 29 OCT 2026 |
| Volume - avg. trading volume for the last ten days | 3.71 |
| Market capitalization | 8,081.09 |
| 12 Month High price date | 30 MAR 2026 |
| 12 Month Low price date | 18 DEC 2025 |
| Volume - avg. trading volume for the last 3 months | 2.89 |
| Price - 1 Day % Change | 0.00% |
| Price - 13 week price percent change | 6.99% |
| Price - 26 week price percent change | -18.40% |
| Price - 5 Day % Change | 4.08% |
| Price - 52 week price percent change | 14.18% |
| Price - YTD price percent change | 23.39% |
| Price % Change Month To Date | 6.43% |
| EPS excluding extraordinary items - most recent fiscal year | 0.333 |
| EPS excluding extraordinary items - trailing 12 month | 0.222 |
| EPS Normalized - most recent fiscal year | 0.326 |
| Revenue/share - most recent fiscal year | 4.335 |
| Revenue/share - trailing 12 month | 4.608 |
| Book value per share - most recent fiscal year | 6.839 |
| Book value per share - most recent half-year | 6.830 |
| Book value (tangible) per share - most recent fiscal year | 6.742 |
| Book value (tangible) per share - most recent half-year | 6.733 |
| Cash per share - most recent fiscal year | 1.611 |
| Cash per share - most recent half-year | 1.586 |
| Cash Flow per share - most recent fiscal year | 0.951 |
| Cash Flow per share - trailing 12 month | 0.943 |
| Dividend per share - most recent fiscal year | — |
| Dividends per share - trailing 12 month | 0.192 |
| EBITD per share - trailing 12 month | 0.942 |
| EPS Basic excluding extraordinary items - most recent fiscal year | 0.334 |
| EPS Basic excluding extraordinary items - trailing 12 month | 0.223 |
| EPS including extraordinary items - most recent fiscal year | 0.334 |
| EPS including extraordinary items - trailing 12 month | 0.223 |
| Free Cash Flow per share - trailing 12 month | 0.491 |
| P/E excluding extraordinary items, most recent fiscal year | 27.51 |
| P/E Normalized, most recent fiscal year | 28.82 |
| Price to sales - most recent fiscal year | 1.33 |
| Price to Tangible Book - most fiscal year | 0.91 |
| Price to Free Cash Flow per Share - most recent fiscal year | 12.46 |
| Price to Cash Flow per share - trailing 12 month | 6.49 |
| Price to Book - most recent fiscal year | 0.90 |
| P/E excluding extraordinary items high, trailing 12 months | 28.28 |
| P/E excluding extraordinary items low, trailing 12 months | 6.59 |
| Net Debt, LFI | -2,034.00 |
| Net Debt, LFY | -2,043.00 |
| Dividend Yield - 5 Year Average | 7.86% |
| Dividend Yield - indicated annual dividend divided by closing price | 3.19% |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 3.14% |
| Free Cash Flow - most recent fiscal year | 506.00 |
| LT debt/equity - most recent fiscal year | 0.45% |
| Payout ratio - most recent fiscal year | — |
| Total debt/total equity - most recent fiscal year | 0.93% |
| LT debt/equity - most recent half-year | 0.26% |
| Total debt/total equity - most recent half-year | 0.67% |
| Free Cash Flow - trailing 12 month | 649.00 |
| Payout ratio - trailing 12 month | — |
| Revenue - most recent fiscal year | 5,728.00 |
| Revenue - trailing 12 month | 6,089.00 |
| EBITD - most recent fiscal year | 1,353.00 |
| EBITD - trailing 12 month | 1,245.00 |
| Earnings before taxes - most recent fiscal year | 623.00 |
| Earnings before taxes - trailing 12 month | 440.00 |
| Net Income available to common - most recent fiscal year | 440.00 |
| Net Income available to common - trailing 12 months | 294.00 |
| Earnings before taxes Normalized - most recent fiscal year | 626.00 |
| Net Income Available to Common, Normalized - most recent fiscal year | 430.00 |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 0.21 |
| Net Profit Margin % - 1st historical fiscal year | 7.68% |
| Net Profit Margin % - trailing 12 month | 4.83% |
| Operating margin - 1st historical fiscal year | 8.48% |
| Operating margin - trailing 12 month | 6.11% |
| Pretax margin - trailing 12 month | 7.23% |
| Pretax margin - 1st historical fiscal year | 10.88% |
| Operating Margin - 5 year average | 27.59% |
| Pretax Margin - 5 year average | 27.76% |
| Free Operating Cash Flow/Revenue, 5 Year Average | 21.51% |
| Free Operating Cash Flow/Revenue, TTM | 10.66% |
| Net Profit Margin - 5 year average | 19.69% |
| Return on average assets - most recent fiscal year | 3.63% |
| Return on average assets - trailing 12 month | 2.45% |
| Return on average equity - most recent fiscal year | 4.86% |
| Return on average equity - trailing 12 month | 3.28% |
| Return on average assets - 5 year average | 13.15% |
| Return on average equity - 5 year average | 21.59% |
| Net Income/employee - most recent fiscal year | — |
| Revenue/employee - most recent fiscal year | — |
| Revenue growth rate, 5 year | 10.81% |
| EPS growth rate, 5 year | — |
| Growth rate% - dividend, 3 year | -17.25% |
| Revenue/share (5 yr growth) | 10.79% |
| Growth rate% - Revenue, 3 year | -18.33% |
| Growth rate% - EPS, 3 year | -50.24% |
| Book value per share growth rate, 5 year | 11.71% |
| Capital Spending growth rate, 5 year | 21.90% |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | — |
Financial forecast (AUD, millions except per share)
| Actuals | Estimates | |||||||
| 2025 | 2026 | 2027 | 2028 | |||||
| Estimate breakdown | ||||||||
Financials (AUD, millions)
| Period end: | DEC 21 | DEC 22 | DEC 23 | DEC 24 | DEC 25 |
| Fiscal year: | 2021 | 2022 | 2023 | 2024 | 2025 |
| Period length: | 12 months | 12 months | 12 months | 12 months | 12 months |
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
YAL has been on a rollercoaster ride in 2026, initially climbing from around $5 in January to above $6 following its FY25 result before surging towards $9 in April as metallurgical coal prices strengthened and speculation around the Kestrel acquisition gathered momentum.
YAL has surged in recent weeks, jumping 13.3% on Monday to become the top performer on the main board. We’ve generally not been a fan of this complex, primarily Chinese owned dividend play but its rewarding investors in 2026. The stock initially fell ~10% in February after it reported a drop in annual net profit due to lower coal prices and an underwhelming dividend, but the recent lift in the underlying coal price has put a rocket under the stock.
YAL has always been a complex coal and dividend play due to its ~75% ownership by two Chinese entities, which may influence their decision-making processes.
A strong historical dividend and a lack of mainstream broker coverage are perhaps the two main reasons we consistently get a high volume of questions/queries on Yancoal (YAL).
YAL has moved from a strong dividend payer to a coal miner on the acquisition trail. After suspending its dividend, YAL now has over $1.5bn on its balance sheet to fuel expansion by acquisition.
Yancoal (YAL) is a proxy for a Chinese-listed coal company that will/has conducted business on its terms; hence, it is not for us, i.e. the directors recently overrode the company’s constitution, which states at least 50% of net profit must be returned to shareholders.
Yancoal (YAL) plunged ~15% earlier this week after withholding its dividend to build a war chest to purchase Met Coal assets, Nippon Steel beat it to the punch with Blackwater! It was a clearly unpopular decision as its yield was the main reason many investors held the coal miner. In a rare occurrence, the directors overrode the company’s constitution, which states at least 50% of net profit must be returned to shareholders
Overnight we heard that the Chinese majority owner of YAL is looking to acquire the remaining stake in the company, Australia’s largest listed coal miner. This will be an interesting scenario for Mr Albanese especially as Yankuang’s valuing YAL at $US3.60 significantly below the current share price ~$6. Another stocks that’s in the too hard basket for MM, we are happy to leave this one to the politicians and bankers.
MM is cautiously bullish towards YAL around $6.20
MM is cautiously bullish towards YAL above $7
MM is cautiously bullish towards YAL
MM is bullish YAL ~$6.25
MM is neutral towards YAL
MM is neutral towards YAL
MM is neutral towards YAL
MM is neutral YAL
Yancoal Australia Ltd is involved in identifying, developing, and operating coal-related projects in Australia. It has a diversified product mix of metallurgical and thermal coal mines in New South Wales and Queensland. The company generates maximum revenue from the New South Wales segment. It operates coal mines in the Hunter Valley, Moolarben, Mount Thorley Warkworth, Ashton and Stratford Duralie, Yarrabee and Middlemoun. The company's geographical markets include Japan, Singapore, China, South Korea, Taiwan, Vietnam, Thailand, and other countries.
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