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Reward Minerals Ltd (RWD) fair value: what the stock is really worth

As of Oct 27, 2026: fair value (intrinsic value) of Reward Minerals Ltd stock A$0.03, price A$0.03, that is 13.9% below the price, quality 33 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Basic Materials AU · ISIN AU000000RWD5

RM Reward Minerals Ltd logo Thin data Nov 10, 2026

Reward Minerals Ltd

RWD · AU
Expensive, weak quality

Our calculation puts a fair price 14% below what the stock costs today.

Mixed Growth (revenue 5y +129.8 %/yr in AUD)
Negative equity (buybacks among others)
Fair value A$0.0258 · Overvalued
Quality 33/100
Negative free cash flow
Trails peers (2/6)
Narrow moat 30/100 · thin data
Thin data
⟳ CyclicalEstimate⚠ Thinly traded
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

A$0.1382 A$0.0230 Fair Value A$0.0258 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range A$0.0230 – A$0.1382 · fair‑value band A$0.0246 – A$0.0271 · the A$0.0300 price screens above the A$0.0258 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 10, 2026.

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Company profile

Reward Minerals Ltd, together with its subsidiary, engages in the exploration and development of potash mineral properties in Australia and Canada. The company's project includes the Carnarvon Potash Project which covers an area of 219 square kilometers located in Carnarvon in Western Australia.

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Reward Minerals Ltd was incorporated in 1986 and is headquartered in Nedlands, Australia.

Stock analysis

Reward Minerals Ltd (RWD) currently trades at A$0.0300, while our estimate is A$0.0258, 14% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: A$0.0246 (bear) to A$0.0271 (bull), the price of A$0.0300 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 33/100 (below-average quality), in the Basic Materials sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Reward Minerals Ltd reported revenue of A$252K in FY2025 versus A$426 in FY2021, a compound +393.0%/yr. Reported net income was −A$2.5M in FY2025.

Key figures

Market cap A$8.2M (≈ $5.7M) Micro · P/S ratio 30.3 · EPS (TTM) A$−0.0200 · Return on equity −251% · Return on assets (EBIT) −13.4% (5-year average) · Operating margin −221% · Revenue (TTM) A$278K · Revenue growth (YoY) +881%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 30 out of 100 (low confidence).

What moves the price

The share trades about 39% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −10% fair-value upside, at −14%, RWD screens richer than that median.

Fair Value

Bear A$0.0246 Fair Value A$0.0258 Bull A$0.0271
Price A$0.0300 · Downside -13.9%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 33/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 95
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 23
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 45
How calm the share price moves, does not count
Price momentum 17
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 10
Distance to the 52-week high, does not count
New shares 31
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 36/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+2,260.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+257.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+129.8%
Start year 2020 (pandemic)
Revenue growth 8 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+24.3%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−25,350.1% (2020) → −735.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

RWD screens overvalued: fair value 14% below the price. Compare with BHP Group →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Other Industrial Metals & Mining · 577 stocks

Beats the industry median on 2/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 33 · Below median
Fair Value upside −14.0% · Above median
Profitability
Return on equity (12 months) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −55.9% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 881.2% · Top 25%
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Other Industrial Metals & Mining median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (12 months) 29.62× · Priciest 25%
PEG 2.75× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)15 · sector 4
FUTURE (revenue growth)100 · sector 45
PAST (return on equity)0 · sector 0
HEALTH (low debt)0 · sector 96
DIVIDEND (yield)0 · sector 33

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Vedanta Limited VEDL ₹262.00 ₹334.17 +28% vs RWD
Saudi Arabian Mining Company 1211 57.00 SAR 64.24 SAR +13% vs RWD
Western Mining Co 601168 ¥28.25 ¥30.98 +10% vs RWD
Hindustan Zinc Limited HINDZINC ₹575.95 ₹624.91 +9% vs RWD
Boliden AB BOL kr 515.20 kr 464.45 −10% vs RWD
BHP Group BHP A$60.39 A$47.47 −21% vs RWD
Zhejiang Huayou Cobalt Co 603799 ¥32.69 ¥25.57 −22% vs RWD
Korea Zinc Company 010130 967,000 KRW 649,125 KRW −33% vs RWD
CMOC Group 603993 ¥13.71 ¥6.82 −50% vs RWD
China Tungsten And Hightech Materials Co 000657 ¥40.90 ¥4.44 −89% vs RWD

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Reward Minerals Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Reward Minerals Ltd Fair Value". https://www.fairvalue-calculator.com/stock/RWD

Frequently asked questions

Is Reward Minerals Ltd (RWD) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is A$0.0258 versus the last price from Oct 27, 2026 of A$0.0300, about 14% lower (overvalued).
What is the fair value of RWD?
Our estimate for Reward Minerals Ltd is A$0.0258 (as of Nov 10, 2026), built from audited fundamentals. Last price (from Oct 27, 2026): A$0.0300.
What is the quality score of RWD?
Reward Minerals Ltd has a Quality Score of 33/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Reward Minerals Ltd (RWD)?
Our calculated price target is the estimate of A$0.0258 (as of Nov 10, 2026). Cautious scenario A$0.0246, optimistic scenario A$0.0271. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Reward Minerals Ltd stock forecast for 2026?
Our estimate puts fair value at A$0.0258, about 14% lower versus the last price from Oct 27, 2026 of A$0.0300 (overvalued). Cautious scenario A$0.0246, optimistic scenario A$0.0271. The calculation is refreshed regularly with new filings.
What is the revenue of Reward Minerals Ltd (RWD)?
Reward Minerals Ltd reported trailing-twelve-month revenue of about A$278K (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Reward Minerals Ltd (RWD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Reward Minerals Ltd it is A$0.0258 per share (as of Nov 10, 2026), against a price of A$0.0300.
Is Reward Minerals Ltd stock overvalued or undervalued in 2026?
As of Nov 10, 2026, RWD trades above its calculated fair value: price A$0.0300, fair value A$0.0258, a gap of about −14% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of RWD?
No. The price is what the market pays today (A$0.0300); the fair value is what the company's own numbers justify (A$0.0258). For Reward Minerals Ltd the two are A$0.0042 per share apart. That gap is exactly why we show both numbers side by side.
How much is Reward Minerals Ltd worth?
The market values Reward Minerals Ltd at about A$8.2M (market capitalisation, as of Nov 10, 2026). Per share that is A$0.0300; our models calculate a fair value of A$0.0258 per share.
What do the bullish and bearish scenarios say about RWD?
Our models span a range for Reward Minerals Ltd: cautious scenario A$0.0246, base A$0.0258, optimistic A$0.0271 per share (as of Nov 10, 2026, price A$0.0300). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of RWD?
The PEG ratio of Reward Minerals Ltd is 2.75 (P/E divided by earnings growth, as of Nov 10, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Reward Minerals Ltd (RWD)?
Balance-sheet figures for Reward Minerals Ltd (as of Nov 10, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 33/100, which measures business quality independently of the share price.
How far is RWD from its 52-week high?
Reward Minerals Ltd trades at A$0.0300, about 39% below its 52-week high of A$0.0490 and 7% above the low of A$0.0280 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of A$0.0258 is for.
Which stocks are comparable to Reward Minerals Ltd?
From the same area (Basic Materials) we also value BHP Group, Saudi Arabian Mining Company, CMOC Group, Hindustan Zinc Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Reward Minerals Ltd stock attractive at the current price?
The data as of Nov 10, 2026: price A$0.0300, calculated fair value A$0.0258 (−14%), Quality Score 33/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Reward Minerals Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Reward Minerals Ltd (RWD)?
The latest price we hold is from Oct 27, 2026 and stands at A$0.0300. Our estimate is A$0.0258, about 14% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Reward Minerals Ltd right now?
The price sits above even our optimistic bull case (A$0.0271). The favourable scenario is already priced in. The models converge in a tight band (A$0.0246 to A$0.0271), unusually little disagreement for a valuation. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Reward Minerals Ltd

How large is the market capitalisation of Reward Minerals Ltd (RWD)?
The market capitalisation of Reward Minerals Ltd is A$8.2M (≈ $5.7M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Reward Minerals Ltd (RWD)?
The price-to-sales ratio of Reward Minerals Ltd is 30.3 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Reward Minerals Ltd (RWD)?
Earnings per share at Reward Minerals Ltd are A$−0.0200. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Reward Minerals Ltd (RWD)?
The return on equity (ROE) of Reward Minerals Ltd is −251% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Reward Minerals Ltd (RWD)?
On an EBIT basis the return on assets of Reward Minerals Ltd is −13.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Reward Minerals Ltd (RWD)?
The operating margin of Reward Minerals Ltd is −221% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Reward Minerals Ltd (RWD)?
Revenue at Reward Minerals Ltd is growing +881% versus a year earlier (3y avg +258%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Reward Minerals Ltd (RWD)?
Earnings per share at Reward Minerals Ltd are growing +11.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Reward Minerals Ltd (RWD) generate?
The free cash flow of Reward Minerals Ltd is −A$701K (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Reward Minerals Ltd (RWD) carry?
The net debt of Reward Minerals Ltd is A$5.8M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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