BHP (BHP: $A43.15) sinks 4.6% on high volume, hits 30-day low


www.buysellsignals.com

BHP Group Limited's (ASX: BHP $A43.15) stock price sank $A2.08 (4.6%) from its previous trading session to close at $A43.15.

Compared with the All Ordinaries Index which fell 100.1 points (1.3%) in the day, the relative price change was -3.3%.

BHP Group Limited is Australia's largest Materials company by market cap.

There were 16,262,676 shares worth $A701.7 million traded today. The fall was exacerbated by high volume of 2.1 times the average daily volume of 7.9 million shares.

Copper (NYMEX:HG;$4.58 per pound) surges 6.0%
Copper (NYMEX:HG) has surged 25.90c (or 6.0%) from its last trading session of April 12 to close at $4.58 per pound.($10,097 per Ton).
PV$1000 [1 Year] = $1,189

BEARISH BREAKOUT
A bearish breakout is evident in the stock as price weakens on volume which is 2.1 times its average volume, after breaking past a defined support level of $A43.12.

BHP (BHP) Stock Dashboard [traded in Australian Dollars, AUD] End-of-Day Fri, Apr 26

http://www.bhpbilliton.com/
Last$A43.15Market Cap$A219 billion [US$142 billion]
P/E11Dividend Yield % (TTM)5.5
EPS (FY2023)$A2.55DPS (past 12 months)$A3.8 or 378c
Shares Outstanding5,071,530,817ExchangeAUSTRALIAN [ASX]
BHP in IndicesAll Ordinaries [of 387 stocks]SectorMaterials [of 566 stocks]
EPS Growth (FY2023 vs FY2022)-58.2%Today's VI*2.1
Today's Volume16,262,676Currency1.000 AUD = 0.65 USD
Ave Daily Volume7,929,114 sharesPV$1000 (1 yr)$A1,091
US$1,062
52-Week Price Range39.52 - 49.58  

VI* Volume Index = Number of shares traded today/Average number of shares traded per day.

A year ago the exchange rate was USD 1 = 1.5 AUD. USD1000 would have bought $A1,497. A year ago the BHP share price was $A41.75. $A1,497 would have bought 35.9 BHP shares on that day. Those 35.9 shares would be worth $A1,547 at today's share price of $A43.15. At today's exchange rate of USD1=1.54 AUD this is equivalent to USD1,007. Dividends reinvested are worth $A57 ($55). PV$1000= $1,062.

Primary Exchange and Other Listings: Trading Currency and Volume (Excl ADR)
ExchangeTickerCurrencyLastADVTVol % of TotalToday's VI
ASXBHPAUD43.157,929,09699.52.1
OTCBBBHPLFUSD30.47215,1940.40.3
FrankfurtBHP1EUR26.9419,5180.10.7
Total    100.00 

1 AUD [Australian Dollar]= 0.6505 USD; 1 AUD [Australian Dollar]= 0.6067 EUR
ADVT= Avg. Daily Volume of Trading; VI= Volume Index (1 is avg)

Price Volume Snapshot past 3 months (AUD)
Past month to HighLowVWAPVolume Index *
26 Apr 202446.043.144.81.1
26 Mar 202444.441.943.51.1
26 Feb 202443.642.745.90.9


[*Volume Index of 1.1 means volume for the month was 1.1 times its 12-month average]
[VWAP is defined as the Volume Weighted Average Price]

DATA & ARCHIVE DOWNLOAD CENTER

BHP: EXPORT DATA TO EXCEL:

+ PRICE VOLUME - 5-YEAR HISTORY
+ FINANCIALS - 10-YEAR HISTORY [INCLUDING FY 2023]:
+ PEER COMPARISON

BHP: OTHER INFORMATION:

+ NEWS ARCHIVES - BHP PAST 4 YEARS:
+ PRICE VOLUME CHARTS
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+ COPPER COMMODITY PRICE CHARTS IN HTML
+ COPPER COMMODITY BUZZ IN HTML

INDEX

SECTION 1 THE PAST QUARTER: PRESS RELEASES

SECTION 2 THE PAST QUARTER: NEWS AND BUZZ

SECTION 3 COMMODITY BUZZ - COPPER

SECTION 4 TODAY'S BEARISH SIGNALS

SECTION 5 ONGOING BEARISH PARAMETERS

SECTION 6 TODAY'S BULLISH SIGNALS

SECTION 7 ONGOING BULLISH PARAMETERS

SECTION 8 CORPORATE PROFILE AND INDEPENDENT RATINGS

SECTION 9 FINANCIALS H1/2023, FY 2023

SECTION 10 TAX & DIVIDEND

SECTION 11 TOP MANAGEMENT AND BOARD OF DIRECTORS

SECTION 12 FINANCIALS AS REPORTED FY 2023, PAST 10 YEARS

SECTION 13 TOP SHAREHOLDERS

SECTION 14 PEER COMPARISON & RANKING OF BHP

SECTION 15 CURRENCY SYNOPSIS: AUSTRALIAN DOLLAR (AUD)

STOCK IDENTIFIERS
GLOSSARY

SECTION 1 THE PAST QUARTER: PRESS RELEASES

1.1 Press Releases and Corporate Wire

Press Release article 1 of 1, 52 words

March 06: BHP announces dividend

BHP today announced an interim dividend of $A1.10 per share, franked to 100%. The ex-dividend date is Thursday, March 07, 2024 and the record date is Friday, March 08, 2024 and it is payable on Thursday, March 28.

SECTION 2 THE PAST QUARTER: NEWS AND BUZZ

2.1 Stock Buzz

Source: Other Publishers
AprHeadlinePublisher
Wed 24BHP plots possible takeover of rival mining giant Anglo AmericanYAHOO!Finance
Wed 24BHP weighs potential takeover of Anglo AmericanThe Australian Financial Review
Wed 24BHP planning potential buyout offer for Anglo American, Bloomberg reportsReuters on MSN
Wed 24BHP lobs offer for Anglo AmericanThe Australian
Wed 24BHP s Iron Ore Q3 Output Up 3% Y Y, FY24 View MaintainedYahoo Finance
Mon 22Brokers respond to BHP March Qtr result: Strong copper and iron ore not enough to outweigh terrible coalmarketindex


SECTION 3 COMMODITY BUZZ - COPPER

BUZZ article 1 of 4, Source: CNBC, 262 words
Apr 20 2024: 'Big change' in global growth is bullish for commodities including copper, says VanEck CEO

Investors should consider commodities due to a "big change" involving international expansion, according to VanEck CEO Jan van Eck.

"The world economy started growing again," van Eck told CNBC's "ETF Edge" this week.

He singles out China, the world's second-largest economy behind the U.S., as a key driver in the expansion.

"China which has been such a huge driver of growth and so negative for growth over the last year or two. Manufacturing PMI is now positive in China as of March," said van Eck. "You now have growth. So, that leads to your reflation trade."

His firm has exposure to commodities from gold to energy to copper. Its exchange-traded funds include the VanEck Gold Miners ETF (GDX) and VanEck Oil Refiners ETF (CRAK)

. They're up 10% and 9%, respectively, year to date.

Van Eck highlights copper

's momentum as a positive sign for demand. The industrial metal is up almost 16% this year, as of Friday's close.

"It's a good measure of global economic growth and energy prices. [They] probably have gotten a little bit ahead of themselves, but they're reflecting the world is growing," he said.

He also sees U.S. government spending as bullish catalyst for the commodities trade.

"Fiscal spending is running so super high," van Eck said. "That's leading to this global growth trade, too. So, that's why I like commodities because I think it's more than just a headline."

As of Friday's close, the S&P GSCI Index Spot, which tracks commodities from crude oil to cocoa, is up 10% so far this year.

Source: CNBC

BUZZ article 2 of 4, Source: CNBC, 536 words
Apr 10 2024: Copper prices climb to 2024 high as Citi calls the start of the metal's second bull market this century

Soaring copper prices show no signs of slowing down, analysts say, with the red metal's rally fueled by supply risks and improving demand prospects for energy transition metals.

Copper prices

with May delivery traded at $4.323 per pound in New York as of Wednesday morning, extending gains after settling at its highest level since June 2022 in the previous session.

Copper briefly hit a high of $4.334 in intraday trading on Tuesday, reflecting its highest level since the middle of January last year.

Three-month copper prices on the London Metal Exchange traded 0.6% higher at $9,477 per metric ton.

Demand for copper is widely considered a proxy for economic health. The base metal is critically important to the energy transition ecosystem and is integral to manufacturing electric vehicles, power grids and wind turbines.

Wall Street banks are bullish on the outlook for copper prices through to the end of the year.

Earlier this week, analysts at Citi said that they believe the second secular bull market of copper this century is now underway - roughly 20 years after the first such cycle.

Citi said on Monday that it expects copper prices to trend higher over the coming months, averaging $10,000 per metric ton by the end of the year and climbing to $12,000 in 2026, according to the bank's base-case scenario.

"Explosive price upside is possible over the next 2-3 years too, if a strong cyclical recovery occurs at any time, with prices potentially rising more than 2/3rds to $15k/t+ in this, our bull case scenario," analysts at Citi said in a research note.

"Our $12k/t base case assumes only a small uptick in cyclical demand growth over the course of 2025 and 2026," they added. 'Commodity markets always self-solve'

Separately, analysts at Bank of America have raised their 2024 price target for copper to $9,321, up from its previous forecast of $8,625.

The Wall Street bank said Monday that copper was at the "at the epicentre of the energy transition, which means that the lack of mine supply growth is being felt acutely."

"Tight concentrates availability is increasingly capping production at China's smelters and refiners, potentially pushing consumers of refined metal back into international markets," analysts at Bank of America said in a research note.

"At the same time, demand in the US and Europe should bounce back as economies bottom out; this, along with rising demand from the energy transition, will likely move the copper market into deficit this year," they added.

Not everyone's convinced copper prices will hold onto projected gains this year.

"Commodity markets always self-solve," Colin Hamilton, commodities analyst at BMO Capital Markets, told CNBC's "Street Signs Europe" on Tuesday.

"They always find ways of softening things out. If we can't solve from the supply side, well guess what, we'll hurt demand and that's what inflation naturally does. That's why we had underperformance for much of the past year," Hamilton said.

"So, if copper gets say to let's say four times the aluminum price, you would tend to see a bit of switching and substitution. I see some very high copper price targets out there: we could reach them temporarily, but then you would see demand adjusting in key areas."

Soure: CNBC

BUZZ article 3 of 4, Source: CNBC, 443 words
Feb 05 2024: Bill Gates- and Jeff Bezos-backed startup discovers large-scale copper deposit in Zambia

KoBold Metals, a California-based metals exploration company backed by billionaires including Bill Gates and Jeff Bezos, said it has discovered a vast copper deposit in Zambia.

The rare discovery of a large-scale copper deposit could help in the global race to secure a supply of materials critical to the energy transition. Copper is in high demand due to its use in renewable energy and electric vehicles.

A spokesperson for KoBold Metals told CNBC on Monday that the company believes its Mingomba copper project in Zambia "will be one of the world's biggest high-grade large copper mines."

"It is Kakula-scale in size and grade," KoBold Metals President Josh Goldman said in a statement shared on the firm's account on social media site X. The giant Kamoa-Kakula copper mine is situated just across Zambia's northern border in the Democratic Republic of the Congo.

Ivanhoe Mines, a Canadian mining company founded by billionaire magnate Robert Friedland, owns nearly 40% of the Kamoa-Kakula copper mine. It has described the complex as "the world's fastest-growing, highest-grade [and] lowest carbon major copper mine." It produced nearly 400,000 metric tons of copper last year.

Zambia is Africa's second-largest copper producer after the Democratic Republic of the Congo.

KoBold Metals says it uses artificial intelligence to create "Google Maps" of the Earth's crust to help find new deposits of copper, lithium, cobalt and nickel.

The Silicon Valley startup's investors include U.S. venture capital firm Andreessen Horowitz, Norwegian energy giant Equinor, the world's largest mining group BHP, and Breakthrough Energy, a climate and technology fund founded by Bill Gates in 2015.

Some of Breakthrough Energy's backers are Bridgewater Associates' Ray Dalio, Virgin Group's Richard Branson, Alibaba's Jack Ma and Amazon's Jeff Bezos.

KoBold Metals has said it aims to start producing copper at its mine in Zambia within 10 years, in a project that could have significant economic ramifications for the African nation.

"What they've discovered is quite phenomenal," said Jito Kayumba, special assistant to the Zambian president on economic, investment and development affairs.

"There is a lot that we as Zambians can look forward to in terms of the announcement of their mine development which should be coming on stream," Kayumba said in a video posted Monday on social media site X.

As part of a rapid uptick in demand for critical minerals, the International Energy Agency has warned that the current global supply falls short of what is needed to transform the energy sector, given a relatively high geographical concentration of the production of many energy transition elements.

Most rare earth reserves are located in China, while Vietnam, Brazil and Russia are also major rare earths countries based on reserve volume.

Source: CNBC

BUZZ article 4 of 4, Source: CNBC, 874 words
Jan 25 2024: Commodity markets are in a 'super squeeze' - and higher prices could be here to stay

Global commodity markets are in a "super squeeze" amid supply disruptions and lack of investment - and it's only going to get worse as geopolitical and climate risks exacerbate the situation, HSBC said.

"For some time now we have described global commodity markets as being in a 'super-squeeze,'" its chief economist Paul Bloxham told CNBC.

A commodity "super squeeze" is denoted by higher prices driven by supply constraints more than a robust growth in demand, he explained.

"If it's a supply constraint that's driving high commodity prices, it's a very different story for global growth," said via Zoom. Higher prices as a result of a super squeeze are "not as positive."

"We see the deeper 'super-squeeze' factors on the supply-side as still set to play a key role in keeping commodity prices elevated," he said, outlining factors like political uncertainties, climate change and the lack of investments into the green energy transition.

Geopolitical risks include the ongoing Israel-Hamas conflict in Gaza and the Ukraine war, which have hampered global trade, as seen in shipping disruptions from the recent Houthi attacks in the Red Sea.

Another reason is climate change, which disrupts supply chains as well as commodities supply, especially in the agricultural space.

"The super squeeze could be deeper, or more prolonged if geopolitical, climate change or energy transition related supply disruptions are larger than expected," he added. Lack of investments

The world's pursuit of a net-zero carbon future is fueling demand for energy transition metals such as copper and nickel, Bloxham pointed out.

However, there are insufficient investments allocated to procuring these critical minerals, leading to a sharper supply squeeze on energy transition metals - in particular copper, aluminum and nickel, he said.

As energy transition ramps up, markets could be looking at a shortage of a slew of metals like graphite, cobalt, copper, nickel and lithium in the next decade, the Energy Transitions Commission said in a report in July.

At the recent COP28 climate change conference, more than 60 countries backed a plan to triple global renewable energy capacity by 2030, in what is largely deemed as a step forward for energy transition and a further boost in demand for metals required for that transition.

"Large-scale mining projects can take 15-20 years, and the last decade has seen a lack of investment in exploration and production for key energy transition materials," the report said.

Annual capital investments in these metals averaged $45 billion in the last two decades, and must rise to around $70 billion each year through to 2030 to ensure an ample stream of supply, according to the ETC report.

Without more investment in new capacities, supply will be constrained, HSBC's Bloxham said, adding that "for any given amount of demand," it should be expected that commodity prices will stay more elevated than in the past.

"That seems to be playing out across many of the commodities at the moment."

Technology could also be a gamechanger if a development came along and made it much easier to extract the metals used in the battery space, Bloxham added.

He did not say how long it will take global commodity markets to move out of the squeeze, but one way out of it - which would also push commodity prices lower - is a "bigger and deeper [economic] downturn globally," he said.

"Commodities are notoriously volatile asset classes, with a long history that is prone to a short squeeze and the current landscape points to more of the same," said Brian Luke, senior director and head of commodities at S&P Dow Jones Indices. He highlighted that extreme weather events and geopolitics have also impacted the agricultural and energy commodity baskets. Metals most impacted

Analysts say metals will likely see the most upside.

Bloxham noted that aside from clean energy metals, iron ore was also on his list due to falling inventory and a lack of investments into expanding capacity.

Iron ore has seen a price jump of over 24% in the last year, according to data from FactSet. The benchmark 62%-grade iron ore last traded at $135.48 per ton.

"The reason why [iron ore] has a sudden squeeze-up is because inventory has been very low," said Bank of America Securities' head of Asia -Pacific basic materials, Matty Zhao.

She noted that in spite of China's property crisis, steel production has continued, fueling demand for iron ore and coking coal, which are integral to steelmaking.

China, which makes around 55% of the world's steel, produced 874.7 million tons of steel in the first 10 months of 2023 - up 1.4% across the same period in 2022. What squeeze?

While risks remain, one analyst is of the view that commodity markets are still "adequately supplied" for the most part.

"The commodity markets are currently focused on slumping demand due to the sluggish global economy. As such, there's not too much concern about supplies," said Arlan Suderman, chief commodities economist at financial services firm StoneX.

Oil, for one, saw an increase in global oil inventories in 2023.

Some are still hoping that a rebound in Chinese demand will help.

"A resurgence from Asia will go a long way in determining if commodities will have a breakout year," said S&P's Luke, adding that 2023 saw a year of unfulfilled demand from China which weighed heavily on commodity markets.

Source: CNBC

SECTION 4 TODAY'S BEARISH SIGNALS

4.1 PAST WEEK: MODERATE MOMENTUM DOWN

BHP declines 4.3% on firm volume 1.1 times average. Compared with the All Ordinaries Index which rose 20.0 points (or 0.3%) in the week, the relative price change was -4.6%.

Week 17 of 2024: Down 4.3%; BHP (BHP) underperformed the All Ordinaries Index in 3 out of 5 days. The price ranged between a low of $A43.15 on Friday Apr 26 and a high of $A45.50 on Tuesday Apr 23.
AprBHPClose [AUD]Change %Comment
Fri 26In bottom 4% performers of All Ordinaries Index, hits 30-day low43.15-4.6Steepest Fall; VI*=2.1
Wed 24Decreases on average volume45.23-0.6 
Tue 23In 2nd consecutive rise45.50.2Price rise on rising relative strength
Mon 22Adds $A4 billion (1.8%) in MCap, top heavyweight rise in All Ordinaries Index45.421.8Top Rise
Fri 19Loses $A2 billion (1.0%) in MCap, steepest heavyweight fall in All Ordinaries Index44.63-1.0VI*=1.2

* RPC - Relative Price Change is % price change of stock less % change of the All Ordinaries Index.
[Volume Index (VI); 1 is average]

4.2 Short Selling

+ In the Australian Short Selling market of 1379 stocks, short selling (on ASX and CHI-X) as a % of issued shares ranked 265th and within the top quartile of stocks, a bearish indicator.

4.3 Downtrend

Price/Moving Average Price of 0.97:

- The Price/MAP 200 for BHP is 0.97. Being less than 1 is a bearish indicator. It is lower than the Price/MAP 200 for the All Ordinaries Index of 1.03, a second bearish indicator. The stock is trading below both its MAPs and the 50-day MAP of $A44.01 is lower than the 200-day MAP of $A44.34, a third bearish indicator. The 200-day MAP has decreased to $A44.34, a fourth bearish indicator.

Past Quarter:

- The shares had their worst quarter in a year since the quarter ended April 26, 2023.
The Worst 3 weeks in the past quarter
In the past quarter the steepest fall of 4.3% took place in the week beginning Monday April 22.
Mon-FriChange %All Ordinaries Index Change %Vol Ind [1 is avg]
Apr 22-26-4.30.31.1
Mar 11-15-3.5-2.21.5
Feb 05-09-2.8-0.60.8


Trailing Relative Strength (6 months) at 46 percentile:

- The stock has a 6-month relative strength of 46 in the Australian market of 1,566 stocks and 15 ADRs which means it has underperformed 54% of the market.

SECTION 5 ONGOING BEARISH PARAMETERS

5.1 Present Value of AUD1000 Invested in the Past 3 Months; The Worst Period with PVAUD1000 < 955

PVAUD1,0003 mo ago
BHP.ASX$A954
Materials sector$A1,001
All Ordinaries Index$A1,021


5.2 Past quarter: price fall of 6.9%

3-Month price change of -6.9% for BHP underperformed the change of 0.7% in the All Ordinaries Index for a relative price change of -7.6%.
Price Change %Quarter
BHP-6.9
Materials sector0.4
All Ordinaries Index0.7


5.3 BHP sees dividend fall for a second consecutive year

BHP reported dividends per share of $A2.35 in the past year, down 37.8% from the previous year. This is the second consecutive dividend decrease. In the past 2 years average annual compound growth rate of dividends was -30.3%.

5.4 EPS growth [FY2023 vs FY2022] of -58.2%:

FYEPS ($)Growth %
20232.55-58.2
20226.11172.6


5.5 Revenue, EPS, and EBITDA:

5-years average annualized earnings growth rate of 29.7%

- Revenue growth and EBITDA growth have shown signs of deterioration in recent years. [compared with previous year, all figures in %]
FYRevenue GrowthEPS GrowthEBITDA Growth
2023-17-58-31
20221417334
2021334373


5.6 Satisfies 3 out of 9 criteria of Joseph Piotroski [pass mark 5]:

- Positive net income.
- Positive operating cashflow.
- Good quality of earnings [operating cashflow exceeds net income].

But does not meet the following 6 criteria of Joseph Piotroski:
- Return on Assets improvement.
- Improvement in long-term debt to total assets.
- Improvement in current ratio.
- Total shares on issue unchanged (or reduction in total shares on issue).
- Improvement in gross margin.
- Improvement in asset turnover.

SECTION 6 TODAY'S BULLISH SIGNALS

6.1 Relative Value Indicators: Undervaluation compared with sector averages

Price/Earnings of 11 < Materials sector (of 563 stocks) avg of 21.0:
- The price-to-earnings ratio of 11 indicates undervaluation compared with sector average of 21.0 and market average of 24.4.

6.2 Relative Value Indicators: Undervaluation compared with Index averages and bond yield

- Earnings yield of 9.1% is more attractive compared with the Australian average earning yield of 4.1%.
- The earnings yield of 9.1% is 2.0 times the 10-year bond yield of 4.5%.
(All figures in %)
Earnings Yield9.1
Australian avg4.1
Dividend Yield5.5
Bond Yield4.5


Dividend Yield > Bond Yield of 4.5%:
The dividend yield of 5.45% is 1.21 times the triple-A bond yield of 4.5%. The times factor of 1.21 is above the benchmark factor of 0.67 times set by Benjamin Graham.
(All figures in %)
Dividend Yield5.45
Bond Yield4.5
Spread0.95


The Dividend Yield of 5.5% is better than the Index average of 3.9%
- The relative yield of the stock, defined by its yield of 5.5%, divided by average yield of dividend yielding stocks in the All Ordinaries Index of 3.9% is 139.7%. This suggests the stock is undervalued in dividend yield terms.

SectorP/EDividend Yield % 
Forbes 2000Stock: 11.0; Sector: 18.7Stock: 5.5; Sector: 0.8undervalued


6.3 Uptrend

Positive MACD:
- The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 44.78 minus the 26-day EMA of 44.62 is positive, suggesting a bullish signal.

6.4 Other Bullish Signals

- Return on Equity of 29.5% versus sector average of 10.1% and market average of 8.5%.
- Total Liabilities/EBITDA of 2.2 is less than 5, this compares favourably with the Joseph Piotroski benchmark of 5.
- Return on Assets of 14.1% versus sector average of 5.7% and market average of 1.6%.
- Return on Capital Employed of 28.5% versus sector average of 12.1% and market average of 3.1%.
- Interest cover defined by EBIT/I is 11.4 times. This indicates it is less leveraged.
MCap/Total Assets:
- Tobin's Q Ratio, defined as MCap divided by Total Assets, is 1.4. Compared with the rest of the market the stock is undervalued.
- Net profit margin has averaged 28.4% in the last 3 years. This is considered superior and suggests a high margin of safety.
- As per the Du Pont analysis, Return on Equity is high at 29.5%. This is computed as net profit margin of 26.6% times asset turnover [sales/assets] of 0.53 times leverage factor [total assets/shareholders' equity] of 2.1.

6.5 Oversold/Bullish/Support Signals:

- At $A43.15 the price is below the lower Bollinger band support of $A43.47, indicating an upside for it to return to the band.
- The stock is oversold according to the Williams % R indicator of -99.0, suggesting the price is close to its 14-day low of $A43.12.

SECTION 7 ONGOING BULLISH PARAMETERS

7.1 Past four-years

- BHP rose for a fourth consecutive year. In the past four years it has risen $A20.45 (90.1%).

7.2 Rank in the top 99% by Liquidity in the Australian market

DescriptionValueRank
Ave daily turnover$A325 millionIn top 99%


7.3 Rank in the top 1% by Size in the Australian market

DescriptionValueRank
Ave daily Turnover$A701.7 millionIn Top 1%
MCap$142 billionIn Top 1%
Annual Revenue$53.8 billionIn Top 1%


7.4 Rank in the top 23% by Performance in the Australian market

DescriptionValueRank
EBITDA Margin %43.6In Top 23%


7.5 Rank in the top 12% by Productivity in the Australian market

DescriptionValueRank
Return on Equity [ROE] %29.5In Top 9%
Return on Capital Employed [ROCE] %28.5In Top 9%
Return on Assets [ROA] %14.1In Top 12%


7.6 Present Value of AUD1000 Invested in the Past [1 Yr, 3 Yrs]; The Best Periods with PVAUD1000 > 1,090

PVAUD1,0001 yr ago3 yrs ago
BHP.ASX$A1,091$A1,543
Materials sector$A1,004$A1,225
All Ordinaries Index$A1,045$A1,072


7.7 Past 3 years: price rise of 16.6%

3-Year price change of 16.6% for BHP outperformed the change of 7.1% in the All Ordinaries Index for a relative price change of 9.5%.
Price Change %3 Years
BHP16.6
Materials sector23.2
All Ordinaries Index7.1


7.8 Moving Annual Return of 9.0% in the past year:

Moving Annual Return was 9.0% in the past year. Based on a dynamic start date of 5 years ago, the real rate of return has averaged 21.8%. The Moving Annual Return has been positive in 4 of the last 5 years.
BHPClose (AUD)Dividends (AUD)Capital Gain / (Loss) %% YieldAnnual Return %
Apr 2643.152.353.45.69.0
1 Yr ago41.753.78(0.7)98.3
2 Yrs ago42.024.8413.513.126.6
3 Yrs ago37.022.0663.19.172.1
4 Yrs ago22.72.12(15.0)7.9(7.0)


Close 5 years ago $A26.70

7.9 Buybacks and 5-Years Decrease of 4.9% in Total Shares on Issue

In the past 5 years total shares on issue have decreased by 259 million (4.9%) from 5.3 billion to 5.1 billion. Buybacks have averaged 44.3 million shares [0.8%] per financial year. Based on a dynamic start date of 5 years ago, there have been declines in issued capital in 2 out of 5 years. A reduction in total shares on issue is a favourable indicator in Joseph Piotroski's 9 indicators.

Year End (Jun 30)Total Shares on IssueFYBuybacksBuyback %
20235,064,000,0002023--
20225,061,000,0002022--
20215,057,000,0002021--
20205,057,000,0002020123,000,0002.4%
20195,180,000,0002019143,000,0002.7%
20185,323,000,0002018--
Total  266,000,000 
Average per FY  44,333,333 


7.10 Created Market Value [CMV] past 18 yrs of $A78.3 billion

- Market Capitalization has increased by $A117.8 billion from $A101 billion to $A218.8 billion in the last 18 years. This increase comprises cumulative retained earnings (RETE) of $A39.6 billion and Created Market Value of $A78.3 billion. The Created Market Value multiple, defined by the change in MCap for every AUD1 of retained earnings is exemplary at $A2.98.

7.11 BHP.ASX Annualised Period-based Total Shareholder Returns [TSR %]: The Best Periods with TSR > 9%

1 yr3 yrs5 yrs10 yrs20 yrs30 yrs
9.115.419.816.918.414


7.12 Low Debt to Equity (%)

The debt to equity ratio of 46.9% is under a safe benchmark figure of 50%. However, it has deteriorated from 34.9% a year ago.
YearsDebt to Equity (%)
Jun 202346.87
Jun 202234.87
Jun 202137.97
Jun 202052.27
Jun 201948.15


7.13 Increased Volume, up 16% in 5 years

In the past five years, Average Daily Volume of Trading (ADVT) has increased 15.7% to 7.9 million shares.
Avg. Daily Volume Traded 12 months ended Apr 26, million shares
YearADVT
20247.9
20239.6
20229.8
20216.1
20206.9


7.14 Increased VWAP, up 72% in 5 years

In the past five years Volume Weighted Average Price (VWAP) has increased by 71.7% to $A43.73. Based on a dynamic start date of five years ago, there has been no decline in VWAP over the last 5 years.
Past five years, 12 months ended Apr 26 (AUD)
YearHigh PriceVWAPLow Price
202449.5843.7339.52
202346.3338.9431.05
202246.5537.4229.47
202139.1130.0321.68
202029.9425.4717.88


7.15 Increased share turnover, up 87% in 5 years

In the past five years, average daily share turnover has increased 86.8% to $A329.9 million. This suggests increased liquidity.
Past five years, 12 months ended Apr 26 (AUD million)
YearAverage Daily Turnover
2024329.9
2023376.1
2022369.7
2021184.7
2020176.6


7.16 Satisfies four criteria of Benjamin Graham

- "An earnings-to-price yield of at least twice the triple-A bond"; the stock's earning yield of 9.1% is 2 times the triple-A bond yield of 4.5%.
- The P/E of 11 is 0.3 times the highest average P/E of 34.9 in the last five years. This is a value criterion, according to Benjamin Graham who described as a value criterion "A P/E ratio down to less than four-tenth of the highest average P/E ratio the stock attained in the most recent five years".
- "A dividend yield of at least two-thirds the triple-A bond yield"; the stock's dividend yield is 1.2 times the triple-A bond yield of 4.5%.
-"Total debt less than tangible book value"; total debt of USD22.7 billion is less than tangible book value of USD46.9 billion.-"Stability of growth in earnings over the last 5 years, defined as no more than two declines of 5% or greater in year-end earnings";there has been only 1 decline in earnings in the last 5 years.

SECTION 8 CORPORATE PROFILE AND INDEPENDENT RATINGS

8.1 Activities

BHP Group Limited (BHP, formerly BHP Billiton Limited) is a diversified natural resources company producing commodities along with substantial interests in oil and gas. BHP's principal business lines are mineral exploration and production as well as petroleum exploration, production and refining. BHP's assets, operations and interests are separated into Petroleum and Potash, Copper, Iron ore, Coal and Nickel. It is Australia's largest Materials company by market capitalisation.

8.2 Independent Ratings and Relative Value Indicators

+ Top 100 Polluters:
According to environmental non-profit Carbon Disclosure Project (CDP) just 100 companies have been the source of more than 70% of the world's greenhouse gas emissions from 1988 to 2015. The CDP ranked BHP Group Limited 20 [rank 1 is worst] in the top 100 polluters. BHP Group Limited contributed .91% of global industrial greenhouse gas emissions in that period.
+ Newsweek 500:
It was ranked 226 by Newsweek and Corporate Knights Capital in the World's 500 Greenest Companies 2016. It had outstanding scores of 7.5% in Waste productivity, 7.3% in Water productivity and 5.2% in Carbon productivity.
+ Industryweek 1000:
It is a new entrant in the Industry Week list of the world's largest 1000 manufacturers by Revenues in 2016, ranked 77.
+ Top 40 Miners:
It is the largest by MCap among the PwC Top 40 Miners.
+ PwC 100:
It was ranked 54 by MCap as at March 31, 2015 by PwC in the Top 100 Global companies; a deterioration over 6 years from rank 19 as at March 31, 2009.
+ IHS Energy 50:
It was ranked 44 in IHS Energy's list of Top 50 Energy Companies 2013; a deterioration over a year from rank 23 in 2012.

8.3 Contact Details

Websitehttp://www.bhpbilliton.com/
Physical AddressLevel 18, 171 Collins Street, MELBOURNE, VIC, AUSTRALIA, 3000
Phone(61) 1300 55 47 57
Fax(61 3) 9609 3015
EmailJames.Agar@bhpbilliton.com


8.4 Industry & Sector [of 763 stocks]

Classification LevelName of Sector
Economic SectorBasic Materials
Business SectorMineral Resources
Industry GroupMetals & Mining
IndustrySpecialty Mining & Metals


SECTION 9 FINANCIALS H1/2023, FY 2023

9.1 BHP Financials Summary:

Year ended JunFY2023FY2022FY2021
Sales ($ B)53.865.156.9
Pretax ($ B)21.433.124.3
Net ($ B)12.930.911.3
EPS ($)2.5526.1062.24

EPS down 58.2% to $2.55 in FY2023 [ y.e. 30 Jun 2023]
+ Net profit was down 58.2% from $30.9 billion in FY2022 to $12.9 billion in FY2023.
+ Earnings Per Share (EPS) was down 58.2% from $6.11 in FY2022 to $2.55 in FY2023.

9.2 Half-Yearly Financials

BHP EPS plummets 85.6%
Release Date: February 20, 2024
BHP (ASX:BHP) announced EPS of 18.3c for the half year-ended 31 December 2023, down 85.6% from $1.27 in the previous corresponding period.

Half-Yearly Report (H1 2023)
Compared with the Previous Corresponding Period [PCP; H/31 Dec 2022], year-over-year [y.o.y.] Revenue was up 5.9% and Net Profit was down 85.6%.
Half year-ended31 Dec 202331 Dec 2022
EPS, c18.3127
PCP growth in EPS %-86-23.7
Revenue, $ billion27.225.7
PCP growth in Revenue %5.9-
Net Profit, $927million6.5billion
PCP growth in Net Profit %-86-31.6


9.3 Financials, FY 2023 [year-ended 30 June 2023 ]

BHP profits hit by 58% fall
Release Date: August 24, 2023
BHP (ASX:BHP) reported net profit for the year-ended 30 June 2023 [FY2023] of $12.9b, down 58% from $30.9b in the previous year [FY2022]. Earnings per share (EPS) were down 58% from $6.11 in FY2022 to $2.55 in FY2023.

9.4 Annual growth in Revenue, Net Profit and EPS

Year-ended30 June [FY/2023]30 June [FY/2022]
Revenue, $ Billion53.865.1
Growth in Revenue %-17.314.4
Net Profit, $ Billion12.930.9
Growth in Net Profit %-58.2173.4
EPS, $2.556.11
Growth in EPS %-58.2172.6


Major changes compared with previous year (FY2023 vs FY2022):
Favourable Changes:
- Interest revenue to Sales up from 0.1% to 1%
- Total non-current assets to Total Assets up from 69.9% to 76.9%
- Fixed Assets to Total Assets up from 64.4% to 70.9%
- Total Liabilities to EBITDA of 2.2 compares favourably with the Joseph Piotroski benchmark of <5. However, it has deteriorated by 65.4% from the previous year's ratio of 1.4.
- Total Liabilities to Operating Cash Flow of 2.8 compares favourably with the Joseph Piotroski benchmark of <4. However, it has deteriorated by 95.8% from the previous year's ratio of 1.4.
Unfavourable Changes:
- Net profit slumps 58.2% from $30.9b to $12.9b
- Sales revenue down 17.3% from $65.1b to $53.8b
- EBIT Margin down from 52.5% to 43.6%
- Interest cover down 65% from 32.6 to 11.4
- EBIT to total assets down from 35.9% to 23.2%

Year-on-year comparison of Performance Ratios [FY2023 vs FY2022]
June 30FY2023FY2022Change (%)
Return on Equity (%)29.545.9Down 35.7
Return on Assets (%)14.123.5Down 40
Total debt to net tangible assets (%)48.535.9Up 35.1
Debt/Equity0.50.3Up 34.3
Interest Cover11.432.6Down 65
Common Size Ratios by Assets %   
Current Debtors to Total Assets 4.5 5.7 Down 21.1
Long-term investments to Total Assets 2.7 2.3 Up 15.6
Non-current inventory to Total Assets 1.4 1.4 Up 1.3
Common Size Ratios by Sales %   
Interest revenue to Sales 1.0 0.1 Up 703.7


Five-year record of growth and performance:
In the last 5 years Total Revenue averaged $52.6B, EBITDA averaged $22.9B and Net Profit averaged $13.7B. Compound Annual Growth Rate (CAGR) averaged 4.5% for Total Revenue, 28.4% for Net Profit and 7.5% for EBITDA.
DescriptionAnnual ($ B)5-year Avg ($ B)5-year CAGR %
Total Revenue53.852.64.5
EBITDA23.522.97.5
Operating Profit23.522.97.5
Net Profit12.913.728.4


Five-year record of EBITDA, Operating Profit, Net Profit, ROE, ROA and ROCE
In 2023 Net Profit Margin of 26.6% was above its 5-year Avg of 25.4% (All Figures in %)
Description20235-year Avg
EBITDA Margin43.642.6
Operating Profit Margin43.642.6
Net Profit Margin26.625.4
Return on Equity29.527
Return on Assets14.113.6
Return on Capital Employed28.527


9.5 Income & Tax Details

[Source: Australian Taxation Office (ATO), November 02, 2022]
Details2020-20212019-20202018-20192017-20182016-20172015-20162013-20142014-2015
Total income $A62,800,612,30645,913,880,81343,059,226,13636,685,553,13037,903,699,84126,671,570,87640,531,195,54033,044,169,721
Taxable income $A30,322,876,47018,734,259,49616,278,812,03112,781,584,04711,476,618,6865,260,130,22513,760,303,2346,338,539,254
Tax payable $A7,304,554,0824,565,135,2694,220,572,9513,523,250,1163,271,853,0691,325,839,3343,950,825,6041,718,329,663
Tax payable/ Total income %11.69.99.89.68.65.09.75.2
Tax payable/ Taxable income %24.124.425.927.628.525.228.727.1


SECTION 10 TAX & DIVIDEND

10.1 Footprint of Low Tax Subsidiaries

Corporate Tax rate of BHP in country of incorporation:
100% owned subsidiaries:
SubsidiaryIncorporated inCorporate Tax Rate (%)
BHP Billton Petroleum Great Britain LimitedUK19
BHP Billton Freight Singapore Pte LimitedSingapore17
BHP Billton International Services LimitedUK19
BHP Billton Marketing Asia Pte Ltd.Singapore17


10.2 Dividend History

In the past 5 years annual dividends have increased by AUD0.2 from AUD2.1 to AUD2.4. Based on a start date of 5 years ago, there has been three decline in dividends over the last 5 years.
Date PaidValue (AUD)Type
07 Mar 20241.1Interim
07 Sep 20231.25Final
Tr 12 Months2.35 
2022 - 20233.78 
2021 - 20224.85 
2020 - 20212.07 
2019 - 20202.12 


SECTION 11 TOP MANAGEMENT AND BOARD OF DIRECTORS

11.1 Top Management

Top Management [One top executive with tenure > 7 yrs]
NameDesignationSince Appointment
Ken MacKenzieChairman, Director7 Yrs, 7 Mos


Top Management [Eight top executives with tenure < 5 yrs]
NameDesignationSince Appointment
Mike HenryChief Executive Officer4 Yrs, 3 Mos
Geraldine SlatteryPresident1 Yr, 6 Mos
Edgar BastoExecutive Director, Chief Operating Officer1 Yr, 6 Mos
Stefanie WikinsonCompany Secretary3 Yrs, 1 Mo
Vandita PantChief Commercial Officer4 Yrs, 10 Mos
Rag UddChief Commercial Officer4 Mos
Laura TylerChief Technical Officer-
Johan van JaarsveldChief Development Officer-


11.2 Board Of Directors

Board Of Directors [One director with tenure > 5 yrs]
NameSince Appointment
Ian Cockerill5 Yrs


Board Of Directors [Six directors with tenure < 5 yrs]
NameDesignationSince Appointment
Gary GoldbergDirector4 Yrs, 2 Mos
Dion WeislerIndependent Non-Executive Director3 Yrs, 11 Mos
Catherine TannaIndependent Non-Executive Director2 Yrs
Michelle HinchliffeIndependent Non-Executive Director2 Yrs, 1 Mo
Christine O'ReillyDirector-
Xiaoqun CleverIndependent Non-Executive Director-


11.3 Resignations in the past 4 years

NameDesignationDate of Resignation
David LamontChief Financial Officer07 December 2023
Terry BowenDirector01 November 2023
Prakash KakkadCompany Secretary20 September 2023
Malcolm BroomheadDirector10 November 2022
John MogfordDirector31 October 2022
Andrew MackenzieChief Executive Officer31 March 2020


11.4 Profiles of Top Management

Mike Henry
CEO
Mike was appointed as a Director of BHP Group Limited and BHP Group Plc in January 2020. He was appointed Chief Executive Officer on 1 January 2020.
Skills and experience:
Mike has over 30 years' experience in the global mining and petroleum industry, spanning operational, commercial, safety, technology and marketing roles. He joined BHP in 2003, initially in business development and then in marketing and trading of a range of mineral and petroleum commodities based in The Hague, where he was also accountable for BHP's ocean freight operations. He went on to hold various positions in the Company, including President Coal, President HSE, Marketing and Technology, and Chief Marketing Officer. Mike was appointed Chief Executive Officer on 1 January 2020 and has been a member of the Executive Leadership Team since 2011. Prior to joining BHP, Mike worked in the resources industry in Canada, Japan and Australia.

Shareholder Value:
Creation of shareholder value in BHP:
Since appointment as CEO: The present value of AUD1,000 invested on the appointment date of January 01, 2020 at close price of $A28.10 is $A2,205, including a capital gain of $A536 and dividend reinvested of $A669.

Geraldine Slattery
President
Experience:
Geraldine Slattery joined BHP in 1994 and currently leads BHP's global exploration, development and production operations in Australia, the US, Mexico, Trinidad and Tobago, Canada, and Algeria, with teams based across the world.
Over Geraldine's 25 year career with BHP, she has worked in roles of increasing complexity and scale in a global portfolio. Prior to her current appointment which commenced in March 2019, she was Asset President for global production operations. She has fulfilled key leadership roles in the Onshore US business as General Manager Gas Assets, as Vice President of Supply through a period of significant capital expansion, and in leading the Australia offshore FPSO operations. Her earlier experience includes a variety of positions in operations, safety and engineering in the UK and Australia.
She holds a Bachelor of Science in Physics and Master of Science, International Management (Oil & Gas).

Shareholder Value:
Creation of shareholder value in BHP:
Since appointment as President: The present value of AUD1,000 invested on the appointment date of October 01, 2022 at close price of $A35.54 is $A1,313, including a capital gain of $A214 and dividend reinvested of $A99.

Ken MacKenzie
Chairman & Director
Ken has been a Director of BHP Billiton Limited and BHP Billiton Plc since September 2016. He was appointed Chairman with effect from 1 September 2017.
Skills and experience:
Ken has extensive global and executive experience, and a deeply strategic approach. From 2005 until 2015, he served as the Managing Director and Chief Executive Officer of Amcor Limited, a global packaging company with operations in over 40 countries. During his 23 year career with Amcor, Ken gained extensive experience across all of Amcor's major business segments in developed and emerging markets in the Americas, Australia, Asia and Europe.
Other directorships and offices (current and recent):
Former Managing Director and Chief Executive Officer of Amcor Limited (from July 2005 to April 2015).
Advisory Board member of American Securities Capital Partners LLC (since January 2016).
Advisory Board member of Adamantem Capital (since September 2016).
Former Senior Adviser to McKinsey & Company (from January 2016 to June 2017).
Board Committee memberships:
Chairman of the Nomination and Governance Committee.
Member of the Sustainability Committee.

Shareholder Value:
Creation of shareholder value in BHP:
Since appointment as Director: The present value of AUD1,000 invested on the appointment date of September 22, 2016 at close price of $A12.74 is $A6,349, including a capital gain of $A2,387 and dividend reinvested of $A2,962.

Edgar Basto
Executive Director & Chief Operating Officer
BSc, Metallurgy
Experience:
Edgar was appointed Chief Operating Officer from October 2022, a newly created role which oversees BHP's global operational capability including establishing enduring capability and performance through the BHP Operating System, as well as being responsible for the Group's health, safety and environment and all operational inorganic growth.
Edgar has extensive experience in the resources industry, with a long career spanning multiple commodities in Australia, Colombia, Chile and Peru. Most recently, he was the President for Minerals Australia, responsible for BHP's iron ore and nickel operations in Western Australia, metallurgical and energy coal in Queensland and New South Wales, and copper in South Australia. Edgar has held numerous other key leadership roles since joining BHP in 1989, including Vice President Global Health, Safety, Environment and Communities (HSEC), Asset President Escondida, and Asset President Western Australia Iron Ore.
Edgar holds a Bachelor of Science (Metallurgy) from the Industrial University of Santander and has received an Honorary Doctorate in Engineering from Edith Cowan University and Curtin University

Shareholder Value:
Creation of shareholder value in BHP:
Since appointment as COO: The present value of AUD1,000 invested on the appointment date of October 01, 2022 at close price of $A35.54 is $A1,313, including a capital gain of $A214 and dividend reinvested of $A99.

Laura Tyler
Chief Technical Officer
Experience:
Laura joined BHP in May 2005 and was appointed Chief Technical Officer in September 2020, responsible for the Company's minerals exploration, centres of excellence, technology and innovation portfolios, that provide the engine to accelerate BHP's growth of sustainable value.
Laura has held key roles across BHP including Asset President of Olympic Dam in South Australia, Chief Geoscientist, Chief of Staff to the BHP CEO, Asset President of the Cannington Mine in Queensland, and has held other technical and operational roles at the EKATI Diamond Mine in Canada and corporate HSEC in London.
Laura began her mining industry career as a Geological Engineer at Grounds Explorations Ltd in 1998 and before joining BHP, Laura worked for Western Mining Corporation, Newcrest Mining and Mount Isa Mines in various technical and operational roles.

Johan van Jaarsveld
Chief Development Officer
Experience: Johan joined BHP in 2016 and was appointed Chief Development Officer in September 2020. Johan is responsible for strategy, acquisitions and divestments, securing early stage growth options in future-facing commodities, ventures and innovation.
Prior to joining BHP, Johan held executive positions in resources and finance, including at Barrick Gold Corporation, Goldman Sachs and The Blackstone Group. He has more than 20 years' experience, working across Asia, Canada, Australia and South Africa.
Johan holds a PhD in Engineering (Extractive Metallurgy) from the University of Melbourne, a Masters in Finance from the Melbourne Business School and a Bachelor of Chemical Engineering from Stellenbosch University, South Africa.

Vandita Pant
Chief Commercial Officer
Experience:
Vandita was appointed Chief Commercial Officer in July 2019, with global accountabilities for Marketing, Supply and Maritime and for developing the Company's view on global commodities markets. She is the most senior Asian female in the BHP Group globally. Vandita joined BHP in 2016 as Group Treasurer and Head of Europe, responsible for BHP's structural financial risk, liquidity investment portfolio, commodity price risk, credit risk, corporate finance, capital management related functions and involved in all strategic transactions with a balance-sheet impact.
She has over 25 years of international experience having worked in a variety of executive roles in India, Singapore, Japan and, for the last 13 years, in London. Prior to this, she was with the Royal Bank of Scotland where she undertook various challenging mandates as Business Treasurer, Group Head of Capital Management and Markets, and, following the 2008 Global Financial Crisis, setting up Global Balance Sheet & Liquidity Management. She spent 11 years with ABN AMRO Bank and 3 years with BNP Paribas in a variety of roles in Strategy & Corporate Finance, Business Development, Commodity Finance and Risk Management.
She holds a Bachelor of Commerce (Hons) degree from Delhi University and an MBA from the Indian Institute of Management (IIM) in Finance and Marketing.

Shareholder Value:
Creation of shareholder value in BHP:
Month of appointment: July 2019
In the last 5 years the average annualized return to shareholders was 19.8%. The present value of AUD1,000 (PV1000) invested 5 years ago is now $A2,464, a gain of $A616 and dividend reinvested of $A848.

11.5 Profiles of Board of Directors

Christine O'Reilly
Director
Appointment
Independent Non-executive Director since October 2020
Skills and experience
Christine O'Reilly has over 30 years' experience in the financial and infrastructure sectors, with deep financial and public policy expertise and experience in large-scale capital projects and transformational strategy.
Christine was the Chief Executive Officer of the GasNet Australia Group and Co-Head of Unlisted Infrastructure Investments at Colonial First State Global Asset Management, following an early career in investment banking and audit at Price Waterhouse. Christine has also served as a Non-executive Director of Medibank Private Limited (from March 2014 to November 2021), Transurban Group (from April 2012 to October 2020), CSL Limited (from February 2011 to October 2020) and Energy Australia Holdings Limited (from September 2012 to August 2018).
Christine has a deep understanding of financial drivers of the businesses and experience in capital allocation discipline across sectors that have long dated paybacks for shareholders and stakeholders. Her insights into cost efficiency and cash flow as well as the impact of policy on innovation, investment and project development are key inputs for the Board.
Current appointments
Christine is a Non-executive Director of Australia and New Zealand Banking Group (since November 2021), Stockland Limited (since August 2018), and the Baker Heart and Diabetes Institute (since June 2013).
Committee membership
People and Remuneration Committee (Chair), Nomination and Governance Committee, Risk and Audit Committee

Gary Goldberg
Director
Gary has been a Director of BHP Group Limited and BHP Group Plc since February 2020.
Skills and experience:
Mr Goldberg has more than 35 years' of global experience in the mining industry, including in executive, operational and strategic roles.
In his most recent role, Gary Goldberg served as Chief Executive Officer of Newmont Goldcorp Corporation, which is one of the world's largest gold producers. Prior to joining Newmont in 2011, Mr Goldberg spent 30 years at Rio Tinto where he held senior executive roles, most recently as President and Chief Executive Officer of Rio Tinto Minerals Inc., and in leadership roles in Rio Tinto's coal, gold, copper and industrial minerals businesses.
Other directorships and offices (current and recent):
Advisor, Newmont Goldcorp Corporation (from October 2019 to March 2020).
Former President and Chief Executive Officer of Newmont Mining Corporation (from 2013 to 2019), and Chief Executive of the merged Newmont Goldcorp Corporation (April 2019 - September 2019).
Former Director (from 2013 to 2019) and Treasurer (from 2017 to 2019) of the International Council on Mining and Metals.
Former Vice Chair of the World Gold Council (from 2017 to 2019).
Former Co-Chair of the World Economic Forum for Mining and Metals Governors (from 2016 to 2017).
Former President and Chief Executive Officer of Rio Tinto Minerals Inc. (from 2006 to 2011).
Former Chairman of the US National Mining Association (from 2008 to 2010).
Former President and Chief Executive Officer of U.S. Borax Inc. (from 2004 to 2006).
Former Managing Director of Coal & Allied Industries Ltd. (from 2001 to 2004).
Former President and Chief Executive Officer of Kennecott Energy Corp. (from 1999 to 2001).
Board Committee membership:
Member of the Remuneration Committee
Member of the Sustainability Committee

Shareholder Value:
Creation of shareholder value in BHP:
Month of appointment: February 2020
In the last 3 years the average annualized return to shareholders was 15.4%. The present value of AUD1,000 (PV1000) invested 3 years ago is now $A1,543, a gain of $A166 and dividend reinvested of $A377.

Ian Cockerill
Independent Non-Executive Director
Ian has been a Director of BHP Group Limited and BHP Group Plc since 1 April 2019.
Skills and experience:
Ian has extensive global mining operational, project and executive experience having initially trained as a geologist. He was formerly the Chief Executive Officer of Anglo American Coal and Chief Executive Officer and President of Gold Fields Limited, and a senior executive with AngloGold Ashanti and Anglo American Group. Ian is the Chairman of Polymetal International plc.
Ian is the former Chairman of BlackRock World Mining Trust plc and the former Lead Independent Director of Ivanhoe Mines Ltd and former Director of Orica Limited and Endeavour Mining Corporation. Ian is also the former Chairman of the Leadership for Conservation in Africa, a not-for-profit organisation, and is the Chairman of Conservation 360, a Botswanan conservation NGO dealing with anti-poaching initiatives. He is a former Director of Business Leadership South Africa, the South African Business Trust and the World Gold Council.
Other directorships and offices (current and recent):
Chairman of Polymetal International plc (since 2019).
Former Director of Orica Limited (from 2010 to 2019).
Former Director (from 2013 to 2019) and Chairman (from 2016 to 2019) of BlackRock World Mining Trust plc.
Former Director (from 2011 to 2019) and Lead Independent Director (from 2012 to 2019) of Ivanhoe Mines Ltd.
Former Director of Endeavour Mining Corporation (from 2013 to 2019).
Former Executive Director and executive Chairman (from 2010 to 2013) and Non-executive Chairman (from 2013 to 2017) of Petmin Limited.
Former Chairman of Hummingbird Resources plc (from 2009 to 2014). Board Committee memberships:
Member of the Risk and Audit Committee.
Member of the Sustainability Committee.

Shareholder Value:
Creation of shareholder value in BHP:
Since appointment as Independent Non-Executive Director: The present value of AUD1,000 invested on the appointment date of April 01, 2019 at close price of $A27.30 is $A2,365, including a capital gain of $A581 and dividend reinvested of $A784.

SECTION 12 FINANCIALS AS REPORTED FY 2023, PAST 10 YEARS

12.1 Financials as reported (FY 2023 [year-ended 30 June 2023 ])

RESULTS OF OPERATIONS AND FINANCIAL CONDITION
(In $ Million, except per share data and shares outstanding)

INCOME STATEMENT AS REPORTED (FY 2023 [year-ended 30 June 2023 ])
Description$ Million$ Million 
Jun 3020232022Change %
Continuing operations   
Revenue53,81765,098Down 17.3
Other income3941,398Down 71.8
Expenses excluding net finance costs-31,873-32,371Improved 1.5
Profit/(loss) from equity accounted investments related impairments and expenses594-19Recovery
Profit from operations22,93234,106Down 32.8
Financial expenses-2,060-1,050Deterioration 96.2
Financial income52981Up 553.1
Net finance costs-1,531-969Deterioration 58.0
Profit before taxation21,40133,137Down 35.4
Income tax expense-6,691-10,430Improved 35.8
Royalty-related taxation (net of income tax benefit)-386-307Deterioration 25.7
Total taxation expense-7,077-10,737Improved 34.1
Profit after taxation from Continuing operations14,32422,400Down 36.1
Discontinued operations   
Profit/(loss) after taxation from Discontinued operations 10,655 
Profit after taxation from Continuing and Discontinued operations14,32433,055Down 56.7
Attributable to non-controlling interests1,4032,155Down 34.9
Attributable to BHP shareholders12,92130,900Down 58.2
Basic earnings per ordinary share (cents)$2.55$6.11Down 58.3
Diluted earnings per ordinary share (cents)$2.55$6.09Down 58.1
Basic earnings from Continuing operations per ordinary share (cents)$2.55$4.0Down 36.3
Diluted earnings from Continuing operations per ordinary share (cents)$2.55$3.99Down 36.1
Weighted average number of ordinary share Basic11,000,00011,000,000Steady
Weighted average number of ordinary share Diluted11,000,00011,000,000Steady


BALANCE SHEET AS REPORTED (FY 2023 [year-ended 30 June 2023 ])
Description$ Million$ Million 
Jun 3020232022Change %
ASSETS   
Current assets   
Cash and cash equivalents12,42817,236Down 27.9
Trade and other receivables4,5945,426Down 15.3
Other financial assets470629Down 25.3
Inventories5,2204,935Up 5.8
Current tax assets508263Up 93.2
Other131175Down 25.1
Total current assets23,35128,664Down 18.5
Non-current assets   
Trade and other receivables148153Down 3.3
Other financial assets1,115802Up 39.0
Inventories1,4031,315Up 6.7
Property plant and equipment71,81861,295Up 17.2
Intangible assets1,6101,369Up 17.6
Investments accounted for using the equity method1,6201,420Up 14.1
Deferred tax assets5656Steady
Other17592Up 90.2
Total non-current assets77,94566,502Up 17.2
Total assets101,29695,166Up 6.4
LIABILITIES   
Current liabilities   
Trade and other payables6,2966,687Down 5.8
Interest bearing liabilities7,1732,622Up 173.6
Other financial liabilities402579Down 30.6
Current tax payable6113,032Down 79.8
Provisions4,5143,965Up 13.8
Deferred income4734Up 38.2
Total current liabilities19,04316,919Up 12.6
Non-current liabilities   
Trade and other payables4  
Interest bearing liabilities15,17213,806Up 9.9
Other financial liabilities2,1571,997Up 8.0
Non-current tax payable6887Down 21.8
Deferred tax liabilities4,2993,063Up 40.4
Provisions11,97310,478Up 14.3
Deferred income5050Steady
Total non-current liabilities33,72329,481Up 14.4
Total liabilities52,76646,400Up 13.7
Net assets48,53048,766Down 0.5
EQUITY   
Share capital4,7374,638Up 2.1
Treasury shares-41-31Deterioration 32.3
Reserves1312Up 8.3
Retained earnings39,78740,338Down 1.4
Total equity attributable to BHP shareholders44,49644,957Down 1.0
Non-controlling interests4,0343,809Up 5.9
Total equity48,53048,766Down 0.5


CASH FLOW AS REPORTED (FY 2023 [year-ended 30 June 2023 ])
Description$ Million$ Million 
Jun 3020232022Change %
Operating activities   
Profit before taxation from Continuing operations21,40133,137Down 35.4
Adjustments for:   
Depreciation and amortisation expense5,0615,683Down 10.9
Impairments of property plant and equipment financial assets and intangibles75515Down 85.4
Net finance costs1,531969Up 58.0
(Profit)/loss from equity accounted investments related impairments and expenses-59419Deterioration
Other546-350Recovery
Changes in assets and liabilities:   
Trade and other receivables867-703Recovery
Inventories-44-865Improved 94.9
Trade and other payables-1,086727Deterioration
Provisions and other assets and liabilities131-248Recovery
Cash generated from operations27,88838,884Down 28.3
Dividends received3471,018Down 65.9
Interest received54558Up 839.7
Interest paid-1,090-657Deterioration 65.9
Proceeds/(settlements) of cash management related instruments331378Down 12.4
Net income tax and royalty-related taxation refunded232105Up 121.0
Net income tax and royalty-related taxation paid-9,552-10,501Improved 9.0
Net operating cash flows from Continuing operations18,70129,285Down 36.1
Net operating cash flows from Discontinued operations 2,889 
Net operating cash flows18,70132,174Down 41.9
Investing activities   
Purchases of property plant and equipment-6,733-5,855Deterioration 15.0
Exploration and evaluation expenditure-350-256Deterioration 36.7
Exploration and evaluation expenditure expensed and included in operating cash flows294199Up 47.7
Investment in subsidiaries operations and joint operations net of cash-5,868  
Net investment and funding of equity accounted investments-557-266Deterioration 109.4
Proceeds from sale of assets444221Up 100.9
Proceeds/(settlements) from sale of subsidiaries operations and joint operations net of their cash821,255Down 93.5
Other investing-377-271Deterioration 39.1
Net investing cash flows from Continuing operations-13,065-4,973Deterioration 162.7
Net investing cash flows from Discontinued operations -904 
Net cash completion payment on merger of Petroleum with Woodside -683 
Cash and cash equivalents disposed on merger of Petroleum with Woodside -399 
Net investing cash flows-13,065-6,959Deterioration 87.7
Financing activities   
Proceeds from interest bearing liabilities8,1821,164Up 602.9
(Settlements)/proceeds of debt related instruments-677  
Repayment of interest bearing liabilities-3,289-3,358Improved 2.1
Purchase of shares by Employee Share Ownership Plan (ESOP) Trusts-88-149Improved 40.9
Dividends paid-13,268-17,851Improved 25.7
Dividends paid to non-controlling interests-1,175-2,540Improved 53.7
Net financing cash flows from Continuing operations-10,315-22,734Improved 54.6
Net financing cash flows from Discontinued operations -33 
Net financing cash flows-10,315-22,767Improved 54.7
Net (decrease)/increase in cash and cash equivalents from Continuing operations-4,6791,578Deterioration
Net increase/(decrease) in cash and cash equivalents from Discontinued operations 1,952 
Net cash completion payment on merger of Petroleum with Woodside -683 
Cash and cash equivalents disposed on merger of Petroleum with Woodside -399 
Cash and cash equivalents net of overdrafts at the beginning of the financial year17,23615,246Up 13.1
Foreign currency exchange rate changes on cash and cash equivalents-134-458Improved 70.7
Cash and cash equivalents net of overdrafts at the end of the financial year12,42317,236Down 27.9


12.2 Download BHP Financials Past 10 Years

Description (June 30)20232022202120202019
Income Statement     
Revenue per share 10.6112.8411.238.478.53
EBIT (B)23.534.225.614.816.6
Interest (B)2.11.11.31.31.5
Profit before tax (B)21.433.124.313.515
Tax (B)(7.1)(10.7)(10.6)(4.8)(5.5)
Net profit (B)12.930.911.388.3
EPS 2.556.112.241.571.6
Balance Sheet     
Equity Share Capital (B)44.54551.347.947.2
Retained Earnings (B)39.840.346.843.442.8
Total Debt (B)22.71721.127.325
Total Assets (B)101.395.2108.9105.7100.9
Current Asset (B)23.428.726.721.523.4
Fixed Asset (B)71.861.373.872.468
Working Capital (B)4.311.710.36.611
Cash Flow     
Operating Cash Flow (B)18.732.225.915.717.9
Investing Cash Flow (B)(13.1)(7)(6.3)(7.6)2.6
Financing Cash Flow (B)(10.3)(22.8)(17.9)(9.8)(20.5)
Net Cash Flow (4.7 B)2.4 B1.7 B(1.7 B)(50 M)

Description (June 30)20182017201620152014
Income Statement     
Revenue per share 8.086.795.818.511.14
EBIT (B)16.3 (6.1)8.822.7
Interest 1.6 B 1.2 B702 M995 M
Profit before tax (B)14.8 (7.3)8.121.7
Tax (B)(7)(4.4)(1.1)3.76.8
Net profit (B)3.75.9(6.4)1.913.8
EPS 0.71.11(1.2)0.362.59
Balance Sheet     
Equity Share Capital (B)55.662.754.364.879.1
Retained Earnings (B)51.152.649.56074.5
Total Debt (B)26.929.64.731.234.6
Total Assets (B)112117119124.6151.4
Current Asset (B)35.121.117.716.422.3
Fixed Asset (B)67.280.58494.1108.8
Working Capital (B)21.19.75.43.54.2
Cash Flow     
Operating Cash Flow (B)18.516.810.619.325.4
Investing Cash Flow (B)(5.9)(4.2)(7.2)(13.2)(15.8)
Financing Cash Flow (10.9 B)(9.1 B)284 M(8.3 B)(6.5 B)
Net Cash Flow (B)1.63.53.7(2.1)3.1


SECTION 13 TOP SHAREHOLDERS

Top 20 shareholders
Name of the Share HolderNumber Of Shares% of Capital
HSBC Custody Nominees (Australia) Limited69652589413.4
J P Morgan Nominees Australia Pty Limited5054319439.8
Citicorp Nominees Pty Ltd1498460972.9
Citicorp Nominees Pty Limited1496539982.9
National Nominees Limited1029212482.0
BNP Paribas Nominees Pty Ltd701886941.4
Bnp Paribas Noms Pty Ltd280299960.5
Citicorp Nominees Pty Limited279972790.5
HSBC Custody Nominees (Australia) Limited202383050.4
Computershare Nominees Ci Ltd152488480.3
Australian Foundation Investment Company Limited134131590.3
Amp Life Limited83201460.2
HSBC Custody Nominees (Australia) Limited81010340.2
Argo Investments Limited74063040.1
HSBC Custody Nominees (Australia) Limited i74024390.1
HSBC Custody Nominees (Australia) LimitedGsco Eca64566730.1
Netwealth Investments Limited51448440.1
Solium Nominees (Australia) Pty Ltd50575270.1
Milton Corporation Limited42889210.1
HSBC Custody Nominees (Australia) Limited A/C 238323470.1

% held by Top 20 shareholders 35.5%

SECTION 14 PEER COMPARISON & RANKING OF BHP

14.1 PEER COMPARISON: BHP IN INDICES

BHP is a constituent of the following indices.

Its market capitalisation is $142 billion and accounts for 35.7% of the combined MCap of the S&P/ASX 300 Metals and Mining (Industry).
Index NameMCap of Index ($ b)BHP MCap as % of Index
S&P/ASX 300 Metals and Mining (Industry)399 35.7
S&P/ASX 200 Materials Index441 32.3
S&P/ASX 200 Resources484 29.4
S&P/ASX 20 Index1,009 14.1
S&P/ASX All Australian 501,203 11.8
S&P/ASX 50 Index1,300 10.9
S&P/ASX 100 Index1,503 9.5
S&P/ASX All Australian 2001,545 9.2
S&P/ASX 200 Index1,668 8.5
S&P/ASX 300 Index1,751 8.1
All Ordinaries Index1,756 8.1


14.2 GLOBAL PEER COMPARISON: BHP - SIZE (all figures in $)

In its Global Peer Group of 9 companies BHP is ranked first (1) by MCap, Net Profit and third (3) by Revenue, Total Assets.

Name (Code)MCapRevenueNet ProfitTotal Assets
Rank of BHP1313
BHP (BHP)142.3B53.8B12.9B101.3B
Rio Tinto (RIO)137.9B54B10.1B103.5B
China Shenhua Energy - A Share (601088)90.1B47.5B9.6B85.8B
Rio Tinto (RIO)84B54B10.1B103.5B
BHP Group (BHP)60.7B53.8B12.9B101.3B
Fortescue (FMG)51.3B16.9B4.8B28.2B
Newmont (NEM)50B11.9B(429M)38.5B
DoorDash (DASH)48.3B   
Grupo Mexico (GMEXICO)47B10.4B2.5B15.9B


GLOBAL PEER COMPARISON: BHP - RELATIVE VALUE INDICATORS

In value terms, comparing relative value of its shares, BHP is ranked

+ 5 out of 9 by Dividend Yield (%) [5.2]
+ 5 out of 9 by Price/Earnings per share [11.5]
+ 5 out of 9 by Price/Sales per share [2.7]
+ 7 out of 9 by Price/Book value per share [3.1]

Name (Code)Currency CodeLast PriceDiv Yld (%)P/EP/SP/Book
Rank of BHP by value  5557
BHP (BHP)AUD43.15.211.52.73.1
Rio Tinto (RIO)AUD130.85.013.52.52.6
China Shenhua Energy - A Share (601088)CNY39.56.411.11.91.9
Rio Tinto (RIO)GBX5,3796.310.81.61.6
BHP Group (BHP)GBX2,3115.211.31.11.3
Fortescue (FMG)AUD25.68.410.32.92.8
Newmont (NEM)USD43.43.3 4.22.9
DoorDash (DASH)USD128.1    
Grupo Mexico (GMEXICO)MXN103.31.7   


USD 1=
1.537323 Australian Dollar (AUD); 7.238 Chinese Yuan (CNY)

14.3 BUYSELLSIGNALS FUNDAMENTALS VALUATION RANKING:

BHP vs Australian Market

Out of 1,566 stocks and 15 units in the Australian Market, BHP is ranked first(1) by Net Profit $, first(1) by Market Cap in $, second(2) by Revenue and Sixty-eighth(68) by ROE.
 Australian AvgBHPBHP Rank
Net Profit $43.2 M12.9 B1
Market Cap $1.3 B142.3 B1
Revenue $559.3 M53.8 B2
ROE (%)8.529.568
EBITDA Margin%1443.672
ROA (%)1.614.181
P/Earnings24.4x11x153
Yield (%)3.85.5171
Premium to 52-Wk Low (%)11.39.2212
Free Cash Flow(145.7 M) 289
Price/Net Tangible Assets2.9x3.02x849
Total Debt/Equity (the lower the better)1.1x0.5x992
Discount to 52-Wk High (%)3.9512.971295

Negative values are shown in brackets.

14.4 Stock in Index and Stock in Sector

DescriptionBHPAll Ordinaries Index% of All Ordinaries IndexMaterials sector% of Materials sector
Net Profit $8.4 B85.5 B9.825.5 B33.0
Revenue $35 B794.9 B4.4236.9 B14.8
Total Assets $65.9 B4,680 B1.4450 B14.6
MCap $142.3 B1,756.4 B8.1546.2 B26.1


14.5 Relative Valuation Indicators: Stock vs Index and Stock vs Sector

DescriptionBHPAll Ordinaries Index Avg.Materials sector Avg.
Price/Earnings11.019.621.0
Yield (%)5.453.94.25
Price/Net Tangible Assets3.023.132.41
Total Debt/Equity (the lower the better)0.47x1.27x0.31x


14.6 MARKET SHARE

BHP has a position of market dominance in the Materials sector.
BHP vs Materials sector [Materials sector Total in Brackets]
Revenue of $82.7 billion[22.8% of aggregate sector revenue of $A364.2 billion; down from 26.3% in the previous year.]
Net Profit of $19.9 billion [50.4% of aggregate sector net profit of $A39.2 billion; down from 60.2% in the previous year.]
EBIT of $36.1 billion [51.1% of aggregate sector EBIT of $A70.3 billion; up from 49.5% in the previous year.]

14.7 GLOBAL RANK [out of 46,581 stocks] AND RANK OF BHP IN THE ASIA PACIFIC REGION [out of 1,975 stocks]

DescriptionValueGlobal RankIn APAC Region
MCap ($)142.3B881
Total Assets ($)101.3B5718
Revenue ($)53.8B2952
Net Profit ($)12.9B1031
Return on Equity %29.52,14269
Net Profit Margin %26.64,315177
Price to Book3.127,4761,159
Price/Earnings11.58,378217
Yield %5.25,315227
PV1000 (1Year) $*1,06215,713531
$* Change (1Year) %4.716,891568


* 1 year ago AUD 1 = $ 0.66
Apr 26, 2024: AUD 1 equals $ 0.65

14.8 RANK OF BHP IN THE ALL ORDINARIES INDEX [out of 361 stocks], IN THE AUSTRALIAN MARKET [out of 1812 stocks] AND IN THE MATERIALS SECTOR [out of 521 stocks]

DescriptionValueIn All Ordinaries IndexIn Australian MarketIn Materials sector
MCap ($A)218.8B111
Total Assets ($A)155.7B882
Revenue ($A)82.7B222
Net Profit ($A)19.9B111
Return on Equity %29.522679
Net Profit Margin %26.67216327
Price to Book3.01671,085391
Price/Earnings11.05417837
Yield %5.57517717
PV1000 (1Year) AUD1,091189575114


14.9 LONG-TERM FUNDAMENTAL RANKING: 4 OUT OF 5 [5 is best]

BHP is ranked number 1 out of 563 listed materials companies in the Australia with a market capitalization of $A218.8 billion.
In the materials companies it has the 2nd highest total assets and 2nd highest revenues.
Within its sector it has a relatively low P/E of 11.

It has a strong relative ROE of 29.5% and ROA of 14.1%. The company paid a dividend of $A1.10 in the last twelve months. The dividend yield is high at 5.5%.
Stocks are scored on a set of parameters reflecting fundamental analytical tools involving valuation, size and financial performance. They are ranked according to the average values of those parameters. The highest ranking is 5 and the lowest ranking is 1.

SECTION 15 CURRENCY SYNOPSIS: AUSTRALIAN DOLLAR (AUD)

15.1 % Change of AUD vs Currency Basket Period-Based

In the past year the Australian Dollar fell 2.7% against the US Dollars; in the past three years the Australian Dollar fell 15.9% against the US Dollars.
LastCountry1-day %1-week %1-Year %3-Yrs %
AUD1=0.651USDUnited States Of America-0.21.0-2.7-15.9
AUD1=4.718CNYChina-0.11.12.3-6.1
AUD1=101.342JPYJapan0.41.912.821.5
AUD1=0.608EUREuropean Union-0.20.70.6-5.5
AUD1=896.032KRWSouth Korea0.31.10.73.6
AUD1=0.886SGDSingapore-0.11.1-0.7-13.8
AUD1=1.096NZDNew Zealand-0.10.61.11.7
AUD1=0.522GBPUnited Kingdom-0.31.0-2.5-6.4
AUD1=5.097HKDHong Kong-0.21.0-3.0-15.1
AUD1=0.595CHFSwitzerland0.11.50.4-16.0
AUD1=0.891CADCanada0.10.5-1.6-7.6
AUD1=7.076SEKSweden0.40.63.38.6
AUD1=7.145NOKNorway0.61.11.410.8
AUD1=11.127MXNMexico0.71.8-7.4-27.6


STOCK IDENTIFIERS

ISIN: AU000000BHP4
PermID: 4295856983
RIC: BHP.AX
LEI: WZE1WSENV6JSZFK0JC28

GLOSSARY

ADVT: Average Daily Volume of shares Traded
Annual Return: Dividends Paid In a 12-Month Period/Price at the Beginning of the Period + Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)
Capital Gain/Loss from n Years Ago to n-1 Years Ago: Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)
Current Ratio: Current Assets/Current Liabilities (times)
Debt/Equity: Net Debt/Net Assets %
Dividend Yield: Dividend Per Share/Share Price (%)
EBIT Margin : Earnings Before Interest and Tax/Revenue (%)
Earnings Yield: Earnings Per Share/Share Price (%)
Income during the n years (3/2/1): Dividends received during the Period
Interest Cover: Earnings Before Interest and Tax/Interest (times)
Moving Average Price (n periods): Sum of Prices for each Period/Number of Periods
PCP: Previous Corresponding Period
PV1000: Present value of 1000 invested 1 year/'n' years ago
Price Close/Moving Avg Price: Latest Price/Moving Average Price
Price/Earnings: Share Price/Earnings Per Share (times)
Price/NTA: Closing Share Price/Net Tangible Assets Per Share (times)
Price/Sales: Share Price/Sales Per Share (times)
Relative Price Change [RPC]: Relative price change is price change of stock with respect to Benchmark Index
Relative Strength (6 Months): Price close today/Price close 6 months ago, then ranked by percentile within the entire market.
Return on Assets: Net Profit/Total Assets (%)
Return on Equity (Shareholders' Funds): Net Profit/Net Assets (%)
TSR: Total Shareholder Returns is expressed as an annualized rate of return for shareholders after allowing for capital appreciation and dividend
TTM: Trailing 12 Months
Volume Index (VI): Number of shares traded in the period/Average number of shares traded for the period
Volume Weighted Average Price (VWAP): The Volume Weighted Average Price (VWAP) is the summation of turnover divided by total volume in the same period.

Disclaimer: While this document is based on information sources which are considered reliable, it has been prepared without consideration of your specific investment objectives, financial situation or needs, so you should carry out your own analysis or seek professional investment advice before an investment decision is made. The document contains unbiased, independent equities data and analysis from Jupiter International (Australia) Pty Ltd trading as BuySellSignals (AFS Licence 222756), who provide round the clock analysis on every stock, every sector, every market, every day. BuySellSignals is not a broker, and does not have executing, corporate advisory or investment banking functions. Jupiter International (Australia) Pty Ltd, its directors, employees and contractors do not represent, warrant or guarantee, expressly or impliedly, that the information contained in this document is complete or accurate.

Data for the BuySellSignals algorithms is drawn from annual reports, company websites and similar sources of publicly available data. It should be used as a guide only.

Created by www.buysellsignals.com