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Liontown Limited (LTR) Fair Value & Analysis

Basic Materials · AU · Market cap A$4.6B

LL Liontown Limited LTR · AU
PriceA$1.18
Fair ValueA$0.5400
Upside-54.2%
Quality27/100
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Mixed Growth
Loss-making · -89.5% net margin
Moderate debt · negative free cash flow
Trails peers (1/10)
Narrow moat 9/100
Evidence: Low Range A$0.2900 – A$0.7700 Share as image

Fair value as of: Jul 15, 2026

From 3 valuation models · updated 25 days ago

Fair value updated Jul 15, 2026, revised from A$0.5500 to A$0.5400 (−1.8%) since Jun 24, 2026. Share price −19.5% over the past month.

Below-average quality, and screening another 54% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (A$0.7700). The favourable scenario is already priced in.
  • Weak quality (27/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The model range is unusually wide (A$0.2900 to A$0.7700). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
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Price vs Fair Value (5 years)

A$3.15 A$0.4167 Fair Value A$0.5400 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range A$0.4167 – A$3.15 · fair‑value band A$0.2900 – A$0.7700 · the A$1.18 price screens above the A$0.5400 fair value. Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

Liontown Limited (LTR) currently trades at A$1.18, while our model-based Fair Value estimate is A$0.5400, implying the stock looks roughly 54.2% overvalued today. The Quality Score stands at 27/100 (below-average quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, Liontown Limited generated revenue of A$405M at a net margin of -89.5%. Revenue grew 106.7% year over year. It earns a return on equity of -47.6%. Net debt stands at A$676M. Fundamentals as of Jul 15, 2026

Our scenario range runs from A$0.2900 (bear case) to A$0.7700 (bull case); at A$1.18, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 55% below its 52-week high and 87% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -34% fair-value upside, at -54%, LTR screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Gordon GGM A$0.3100 A$0.6200 A$0.9500 70
DDM Multi-Stage A$0.3100 A$0.5400 A$0.6600 61
NCAV (Graham) A$0.0900 A$0.1200 A$0.1800 50
All 3 models by family
Dividend Discount
Gordon GGM A$0.3100 A$0.6200 A$0.9500 70
DDM Multi-Stage A$0.3100 A$0.5400 A$0.6600 61
Asset-Based
NCAV (Graham) A$0.0900 A$0.1200 A$0.1800 50

Widest divergence: Dividend Discount (A$0.5400) versus Asset-Based (A$0.1200). Highest evidence: Gordon GGM (70).

Key figures & financial health

Revenue (TTM) A$405M
Revenue growth (YoY) +107%
Net margin -89.5%
Return on equity -47.6%
Free cash flow −A$330M FY2025
Operating margin -33.3%
More key figures
EPS (TTM) A$-0.1400
Net debt A$676M FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 27/100

Of which business quality 29 · Market factors (momentum, volatility) 33

Profitability 1
Margins and returns on capital today
Quality Growth 80
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 44
Balance sheet, leverage, solvency risk
Investment 21
Disciplined investing over empire-building
Low Volatility 16
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 51
Distance to the 52-week high (market factor)
Net Issuance 38
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Liontown Limited engages in the exploration, evaluation, and development of mineral properties in Australia. The company explores for lithium and nickel deposits. Its flagship property is the Kathleen Valley lithium project located in Perth, Western Australia.

Full company description

Liontown Limited engages in the exploration, evaluation, and development of mineral properties in Australia. The company explores for lithium and nickel deposits. Its flagship property is the Kathleen Valley lithium project located in Perth, Western Australia. The company was formerly known as Liontown Resources Limited and change its name to Liontown Limited in November 2025. The company was incorporated in 2006 and is headquartered in West Perth, Australia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2020 – FY2025 · reported fiscal years

Liontown Limited reported revenue of A$298M in FY2025 versus A$1.5M in FY2020, a compound +188.0%/yr. Reported net income was −A$193M in FY2025.

Growth Quality 29/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
A$298M
Avg. growth/yr (5Y)
+188.0%
Avg. growth/yr (17Y)
+82.0%
Revenue +188.0%/yr
FY20 A$1.5M
FY21 A$600K
FY22 A$0
FY23 A$147K
FY25 A$298M
Net income
FY21 −A$10.6M
FY22 A$40.9M
FY23 −A$22.2M
FY24 −A$64.9M
FY25 −A$193M

LTR screens 54% overvalued. Compare with BHP Group →

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Cite: Fair Value Calculator (2026). "Liontown Limited Fair Value". https://www.fairvalue-calculator.com/stock/LTR

Peer Group

Other Industrial Metals & Mining · 476 stocks

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.

Quality Score 27 · Bottom 25%
Fair Value upside −54% · Below median
Return on assets -8% · Below median
Net margin (TTM) -89% · Bottom 25%
Operating margin (TTM) -33% · Bottom 25%
Revenue growth 107% · Top 25%
Debt / equity 0.56× · Higher than 75% of peers

Valuation Multiples vs Other Industrial Metals & Mining median · lower = cheaper

P/B 5.65× · Pricier than 75% of peers
P/S (TTM) 8.10× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 100 · sector 23
PAST 0 · sector 0
HEALTH 72 · sector 96
DIVIDEND 0 · sector 21

VALUE 0: the price sits above our fair-value range.

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
BHP Group BHPN 1,425 MXN 942.42 MXN -34%
Rio Tinto Group RIO A$164.89 A$81.76 -50%
Grupo México, S.A. GMEXICOB 199.23 MXN 187.72 MXN -6%
Vale S.A VALE $14.19 $9.14 -36%
Saudi Arabian Mining Company 1211 58.05 SAR 33.87 SAR -42%
CMOC Group 603993 ¥18.20 ¥16.15 -11%
Fortescue Ltd FMG A$18.47 A$18.62 +1%
China Tungsten And Hightech Materials Co 000657 ¥74.71 ¥9.55 -87%
Hindustan Zinc Limited HINDZINC ₹521.95 ₹576.80 +11%
China Northern Rare Earth (Group) High-Tech Co 600111 ¥39.56 ¥10.59 -73%

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Frequently asked questions

Is Liontown Limited (LTR) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of A$0.5400 versus a price of A$1.18, about −54% (overvalued).
What is the fair value of LTR?
Our model-based fair value for Liontown Limited is A$0.5400 (as of Jul 15, 2026), built from audited fundamentals. The current price is A$1.18.
What is the quality score of LTR?
Liontown Limited has a Quality Score of 27/100. 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 revenue of Liontown Limited (LTR)?
Liontown Limited reported trailing-twelve-month revenue of about A$405M (latest available figure, as of Jul 15, 2026).
What is the net profit margin of LTR?
The net profit margin of Liontown Limited is about -89.5%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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