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Industrial Minerals Ltd (IND) fair value: what the stock is really worth

We calculate from audited financials what Industrial Minerals Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Basic Materials · AU · ISIN AU000000IND3

IM Thin data Sep 13, 2026

Industrial Minerals Ltd

IND · AU

Weakest SetupStrongly overvalued and low quality.

!Fair value A$0.0100 · Strongly overvalued (−90%)
!Quality 32/100
!Weak Growth (revenue 3y −50.3 %/yr)
!negative free cash flow
!Trails peers (0/6)
!Narrow moat 10/100
!Evidence only low, so the estimate is less certain
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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

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

A$1.25 A$0.0960 Fair Value A$0.0100 Jul 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.

How to read this chart

60‑month range A$0.0960 – A$1.25 · the A$0.1000 price screens above the A$0.0100 fair value. Dashed = 300-day average. As of Sep 13, 2026.

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Company profile

Industrial Minerals Ltd engages in the evaluation and exploration of mineral projects in Western Australia. The company explores quartz and silica sands. Its flagship project is the 80% owned Pippingarra Project located in the south-east of Port Hedland, in the Pilbara region of Western Australia.

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Industrial Minerals Ltd engages in the evaluation and exploration of mineral projects in Western Australia. The company explores quartz and silica sands. Its flagship project is the 80% owned Pippingarra Project located in the south-east of Port Hedland, in the Pilbara region of Western Australia. The company was incorporated in 2021 and is based in Peppermint Grove, Australia.

Stock analysis

Industrial Minerals Ltd (IND) currently trades at A$0.1000, while our model-based Fair Value estimate is A$0.0100, implying the stock looks roughly 900.0% overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.

Quality & growth

The Quality Score stands at 32/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Industrial Minerals Ltd reported revenue of A$0 in FY2025 versus A$0 in FY2021. Reported net income was −A$2.3M in FY2025.

Key figures

Market cap A$9.6M (≈ $6.9M) · EPS (TTM) A$−0.0100 · Return on equity −24.5% · Return on assets (EBIT) −55.9% · Revenue (TTM) A$837 · Free cash flow −A$845K · Net cash A$763K.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 50% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at 4% fair-value upside, at −90%, IND screens richer than that median.

Fair Value models

Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
NCAV (Graham) A$0.0200 A$0.0200 A$0.0400 50
All 1 models by family
Asset-Based
NCAV (Graham) A$0.0200 A$0.0200 A$0.0400 50

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Quality Score breakdown

Overall quality 32/100

Of which business quality 34 · Market factors (momentum, volatility) 19

Profitability 0
Margins and returns on capital today
Quality Growth 25
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 97
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 7
Price trend over the last 3–12 months (market factor)
52W Momentum 4
Distance to the 52-week high (market factor)
Net Issuance 0
Share count: buybacks or dilution?

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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. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−40.0%
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.
−50.3%
Revenue growth 15 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.
−17.5%
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.
−932.9% (2014) → −2,347.6% (2017)
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

IND screens 900% overvalued. 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 · 475 stocks

Beats the industry median on 0/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 34 · Below median
Profitability
Return on assets −13% · Bottom 25%
Net margin (TTM) 0% · Below median
Operating margin (TTM) 0% · Below median
Growth and dividend
Revenue growth 0% · Below median

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

P/B 2.37× · Pricier than median

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
BHP Group BHP A$60.87 A$41.95 −31%
Vale S.A VALE $15.23 $8.95 −41%
Saudi Arabian Mining Company 1211 66.00 SAR 72.60 SAR +10%
CMOC Group 603993 ¥18.15 ¥18.88 +4%
Fortescue Ltd FMG A$16.67 A$34.40 +106%
Teck Resources Limited TECK $66.44 $32.09 −52%
China Tungsten And Hightech Materials Co 000657 ¥58.52 ¥31.26 −47%
Hindustan Zinc Limited HINDZINC ₹576.05 ₹633.66 +10%
China Northern Rare Earth (Group) High-Tech Co 600111 ¥37.48 ¥6.50 −83%
Western Mining Co 601168 ¥37.59 ¥41.35 +10%

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Industrial Minerals Ltd · Fair Value
A$0.0100 −900%Fair Value
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Cite: Fair Value Calculator (2026). "Industrial Minerals Ltd Fair Value". https://www.fairvalue-calculator.com/stock/IND.AU

Frequently asked questions

Is Industrial Minerals Ltd (IND) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of A$0.0100 versus a price of A$0.1000, about −90% upside (overvalued).
What is the fair value of IND?
Our model-based fair value for Industrial Minerals Ltd is A$0.0100 (as of Sep 13, 2026), built from audited fundamentals. The current price: A$0.1000.
What is the quality score of IND?
Industrial Minerals Ltd has a Quality Score of 32/100. 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 Industrial Minerals Ltd (IND)?
Our model-based price target is the fair value of A$0.0100 (as of Sep 13, 2026) from 1 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the Industrial Minerals Ltd stock forecast for 2026?
Our models put fair value at A$0.0100, about −90% upside versus a price of A$0.1000 (overvalued). The calculation is refreshed regularly with new filings.
What is the revenue of Industrial Minerals Ltd (IND)?
Industrial Minerals Ltd reported trailing-twelve-month revenue of about A$837 (latest available figure, as of Sep 13, 2026).
What is the intrinsic value of Industrial Minerals Ltd (IND)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Industrial Minerals Ltd it is A$0.0100 per share (as of Sep 13, 2026), against a price of A$0.1000. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Industrial Minerals Ltd stock overvalued or undervalued in 2026?
As of Sep 13, 2026, IND trades above its calculated fair value: price A$0.1000, fair value A$0.0100, a gap of about −90% (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 IND?
No. The price is what the market pays today (A$0.1000); the fair value is what the company's own numbers justify (A$0.0100). For Industrial Minerals Ltd the two are A$0.0900 per share apart. That gap is exactly why we show both numbers side by side.
How much is Industrial Minerals Ltd worth?
The market values Industrial Minerals Ltd at about A$9.6M (market capitalisation, as of Sep 13, 2026). Per share that is A$0.1000; our models calculate a fair value of A$0.0100 per share.
How solid is the balance sheet of Industrial Minerals Ltd (IND)?
Balance-sheet figures for Industrial Minerals Ltd (as of Sep 13, 2026): return on equity −24.5%. They feed the Quality Score of 32/100, which measures business quality independently of the share price.
How far is IND from its 52-week high?
Industrial Minerals Ltd trades at A$0.1000, about 50% below its 52-week high of A$0.2000 and 9% above the low of A$0.0920 (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of A$0.0100 is for.
Which stocks are comparable to Industrial Minerals Ltd?
From the same area (Basic Materials) we also value BHP Group, Vale S.A, Saudi Arabian Mining Company, CMOC Group, 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 Industrial Minerals Ltd stock attractive at the current price?
The data as of Sep 13, 2026: price A$0.1000, calculated fair value A$0.0100 (−90%), Quality Score 32/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of IND calculated?
We run Industrial Minerals Ltd through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of A$0.0100, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.8 % above its aggregate fair value. Industrial 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 should I pay attention to with Industrial Minerals Ltd right now?
Weak quality (32/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Industrial Minerals Ltd

How large is the market capitalisation of Industrial Minerals Ltd (IND)?
The market capitalisation of Industrial Minerals Ltd is A$9.6M (≈ $6.9M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Industrial Minerals Ltd (IND)?
Earnings per share at Industrial Minerals Ltd are A$−0.0100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Industrial Minerals Ltd (IND)?
The return on equity (ROE) of Industrial Minerals Ltd is −24.5% (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 Industrial Minerals Ltd (IND)?
On an EBIT basis the return on assets of Industrial Minerals Ltd is −55.9% (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.
How much free cash flow does Industrial Minerals Ltd (IND) generate?
The free cash flow of Industrial Minerals Ltd is −A$845K (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Industrial Minerals Ltd (IND) hold?
Industrial Minerals Ltd holds more cash than debt, A$763K net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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