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STOCK COMPARISON

BHP Group vs Ivanhoe Mines: Fair Value & Quality

Both stocks run through our valuation models. Here is how BHP Group (BHP) and Ivanhoe Mines (IVN) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees BHP Group as the less overvalued of the two: BHP Group trades at £33.45 versus a fair value of £19.35 (-42%), while Ivanhoe Mines trades at C$11.66 versus C$4.00 (-66%).
BHP Group
BHP.LSE · GBX · Materials
-42%
upside to fair value
overvalued
Price£33.45
Fair Value£19.35
Quality64/100
Ivanhoe Mines
IVN.TO · CAD · Materials
-66%
upside to fair value
overvalued
PriceC$11.66
Fair ValueC$4.00
Quality40/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

BHP GroupIvanhoe Mines
Valuation
19.8×P/E (TTM)76.8×
3.86×P/S (TTM)19.41×
4.51×P/B1.75×
8.2×EV/EBITDA
−42.2%Fair value upside−65.7%
4.0%Dividend yield
£1.33Dividend per share
Profitability
41%Operating margin-7%
1.19×EBIT margin trend (5Y)
25%Return on equity2%
12%Return on assets-0%
Growth
11%Revenue growth (YoY)115%
-7.7%Avg. growth/yr (3Y)
3.6%Avg. growth/yr (5Y)
+6.1%Value creation/yr+43.8%
Balance & size
10.4×Interest coverage (EBIT/interest)
0.44×Debt / equity0.16×
$208BMarket cap$10B
weakGrowth qualitymixed

BHP Group leads: 5 to 4 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

BHP Groupof which business quality 63 · market factors 78 Ivanhoe Minesof which business quality 42 · market factors 19
ProfitabilityMargins and returns on capital today
58
33
Quality GrowthAre margins and returns improving?
34
84
CashflowEarnings quality: real cash, not paper profit
75
0
Fin. StrengthBalance sheet, leverage, solvency risk
67
81
InvestmentDisciplined investing over empire-building
61
0
Low VolatilityCalm price path (market factor)
70
2
MomentumPrice trend over the last 3–12 months (market factor)
73
28
52W MomentumDistance to the 52-week high (market factor)
96
23
Net IssuanceBuybacks instead of dilution
81
55

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyBHP GroupPrice £33.45Ivanhoe MinesPrice C$11.66
DCF Models-19%below the price£27.19n/a
Earnings-Based-25%below the price£25.15-44%below the priceC$6.53
Dividend Discount-41%below the price£19.67n/a
Multiples-14%close to the price£28.74-84%below the priceC$1.82
Asset-Based-82%below the price£6.10-76%below the priceC$2.77
Growth DCF-33%below the price£22.49n/a
Economic Profit-38%below the price£20.84-73%below the priceC$3.13
Growth Earnings-24%below the price£25.38-31%below the priceC$8.03
Minimum-82%below the price£6.10-84%below the priceC$1.82
Maximum-14%close to the price£28.74-31%below the priceC$8.03
Median-29%below the price£23.82-73%below the priceC$3.13
Geometric mean-40%below the price£20.23-67%below the priceC$3.83

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

BHP Group: 21 of 25 models see the stock below the current price.

Ivanhoe Mines: 10 of 10 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

BHP Group
Bear £12.88Fair Value £19.35Bull £27.71
£33.45 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

BHP Group · Materials

Quality score64 · Top 25%
Fair value upside-42% · below median

Ivanhoe Mines · Materials

Quality score40 · below median
Fair value upside-66% · bottom 25%

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees BHP Group as the less overvalued of the two: BHP Group trades at £33.45 versus a fair value of £19.35 (-42%), while Ivanhoe Mines trades at C$11.66 versus C$4.00 (-66%).

BHP Group has the higher quality score (64/100).

See the full analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.