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Mineral Resources Ltd (MIN) fair value: what the stock is really worth

We calculate from audited financials what Mineral Resources 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? Yes
  2. Good quality? No
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Basic Materials · AU · ISIN AU000000MIN4

MR Some data Sep 19, 2026

Mineral Resources Ltd

MIN · AU

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value A$84.53 · Strongly undervalued (+60%)
!Quality 28/100
!Expensive Growth (revenue 5y +16.0 %/yr)
!Thin margins · 7.6% net margin (TTM)
!High debt · negative free cash flow
!Mixed vs. peers (8/14)
!Moderate moat 48/100
!Insider activity 42/100
!Evidence only medium, so the estimate is less certain
!Weak on balance sheet: 17 out of 100
!Weak on dividend: 7 out of 100
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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$93.75 A$14.40 Fair Value A$84.53 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 19, 2026.

How to read this chart

60‑month range A$14.40 – A$93.75 · fair‑value band A$52.00 – A$117.04 · the A$52.83 price screens below the A$84.53 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 19, 2026.

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Company profile

Mineral Resources Limited, together with subsidiaries, provides mining services in Australia, Asia, and internationally. It operates through Mining Services, Iron Ore, Lithium, and Energy and Other segments.

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Mineral Resources Limited, together with subsidiaries, provides mining services in Australia, Asia, and internationally. It operates through Mining Services, Iron Ore, Lithium, and Energy and Other segments. The company offers pit-to-ship solutions comprising open pit mining, crushing and material handling, processing, haulage, port handling, and marine services; design and construction of mineral processing facilities; transport and logistics services comprising supply chain, road haulage, autonomous road train, and transshipping services; manufacturing of equipment and parts for the mining industry; site and rehabilitation services; and engineering and construction services. It also develops, mines, and exports iron ore from its flagship Onslow iron project located in Western Australia. In addition, the company develops and mines lithium from its mines located in Western Australia; and sells spodumene concentrate and lithium battery chemicals. Further, it engages in exploration and drilling services for the energy sector; manganese and garnet; gas production; and generation of power through natural gas and LNG, solar, wind, and geothermal. Mineral Resources Limited was founded in 1992 and is headquartered in Osborne Park, Australia.

Stock analysis

Mineral Resources Ltd (MIN) currently trades at A$52.83, while our model-based Fair Value estimate is A$84.53, implying the stock looks roughly 37.5% undervalued today.

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Valuation

How firm this estimate is: it rests on 6 models at a data quality of 89/100, which puts the evidence level at medium.

Scenario range: A$52.00 (bear) to A$117.04 (bull), the price of A$52.83 sits inside 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 28/100 (below-average quality), in the Basic Materials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Mineral Resources Ltd reported revenue of A$4.5B in FY2025 versus A$3.7B in FY2021, a compound +4.6%/yr. Reported net income was −A$904M in FY2025.

Key figures

Market cap A$10.4B (≈ $7.4B) · P/E ratio 26.2 · P/S ratio 2.07 · EPS (TTM) A$2.02 · Dividend yield 0.3% · Net margin −20.2% · Return on equity 12.1% · Return on assets (EBIT) 12.4%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 30% below its 52-week high and 167% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −31% fair-value upside, at 60%, MIN screens cheaper than that median.

Fair Value models

Bear A$52.00 Fair Value A$84.53 Bull A$117.04
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. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (A$2.02 per share) are deliberately not added. 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
EV/EBITDA A$32.78 A$52.01 A$71.24 66
NCAV (Graham) A$8.12 A$10.89 A$16.25 54
All 2 models by family
Multiples
EV/EBITDA A$32.78 A$52.01 A$71.24 66
Asset-Based
NCAV (Graham) A$8.12 A$10.89 A$16.25 54

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Quality Score breakdown

Overall quality 28/100

Of which business quality 25 · Market factors (momentum, volatility) 51

Profitability 16
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 1
Earnings quality: real cash, not paper profit
Fin. Strength 15
Balance sheet, leverage, solvency risk
Investment 40
Disciplined investing over empire-building
Low Volatility 41
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 64
Distance to the 52-week high (market factor)
Net Issuance 76
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. 51/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−15.3%
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.
+9.4%
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.
+16.0%
Revenue growth 18 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.
+21.1%
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.
25.7% (2020) → 2.2% (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

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Earlier news

News mood ⓘNews mood, the average tone of recent news (87 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.

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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 · 465 stocks

Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 28 · Below median
Fair Value upside +60% · Top 25%
Profitability
Return on equity (TTM) 12% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 19% · Top 25%
Growth and dividend
Revenue growth 33% · Above median
Dividend yield (TTM) 0.3% · Bottom 25%
Balance sheet
Debt / equity 1.66× · Highest 25%

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

P/E (TTM) 26.2× · Pricier than median
P/B 2.42× · Pricier than median
P/S (TTM) 1.49× · Cheaper than median
EV/EBITDA 6.5× · Cheaper than median
PEG 3.25× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 0
FUTURE (revenue growth)100 · sector 38
PAST (return on equity)48 · sector 0
HEALTH (low debt)17 · sector 96
DIVIDEND (yield)7 · sector 29

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 62.00 SAR 68.20 SAR +10%
CMOC Group 603993 ¥17.35 ¥18.88 +9%
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 ¥36.73 ¥6.50 −82%
Western Mining Co 601168 ¥35.45 ¥39.00 +10%
Korea Zinc Company 010130 1,123,000 KRW 646,063 KRW −42%

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Cite: Fair Value Calculator (2026). "Mineral Resources Ltd Fair Value". https://www.fairvalue-calculator.com/stock/MIN

Frequently asked questions

Is Mineral Resources Ltd (MIN) overvalued or undervalued?
As of Sep 19, 2026, our model estimates a fair value of A$84.53 versus a price of A$52.83, about +60% upside (undervalued).
What is the fair value of MIN?
Our model-based fair value for Mineral Resources Ltd is A$84.53 (as of Sep 19, 2026), built from audited fundamentals. The current price: A$52.83.
What is the quality score of MIN?
Mineral Resources Ltd has a Quality Score of 28/100. 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 Mineral Resources Ltd (MIN)?
Our model-based price target is the fair value of A$84.53 (as of Sep 19, 2026) from 2 valuation models. Cautious scenario A$52.00, optimistic scenario A$117.04. It is a calculation from audited fundamentals, not an analyst target.
What is the Mineral Resources Ltd stock forecast for 2026?
Our models put fair value at A$84.53, about +60% upside versus a price of A$52.83 (undervalued). Cautious scenario A$52.00, optimistic scenario A$117.04. The calculation is refreshed regularly with new filings.
What is the revenue of Mineral Resources Ltd (MIN)?
Mineral Resources Ltd reported trailing-twelve-month revenue of about A$5.2B (latest available figure, as of Sep 19, 2026).
Does Mineral Resources Ltd pay a dividend?
Mineral Resources Ltd currently shows a dividend yield of about 0.34% relative to its recent price (as of Sep 19, 2026).
What is the intrinsic value of Mineral Resources Ltd (MIN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Mineral Resources Ltd it is A$84.53 per share (as of Sep 19, 2026), against a price of A$52.83. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Mineral Resources Ltd stock overvalued or undervalued in 2026?
As of Sep 19, 2026, MIN trades below its calculated fair value: price A$52.83, fair value A$84.53, a gap of about +60% (undervalued). 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 MIN?
No. The price is what the market pays today (A$52.83); the fair value is what the company's own numbers justify (A$84.53). For Mineral Resources Ltd the two are A$31.70 per share apart. That gap is exactly why we show both numbers side by side.
How much is Mineral Resources Ltd worth?
The market values Mineral Resources Ltd at about A$10.4B (market capitalisation, as of Sep 19, 2026). Per share that is A$52.83; our models calculate a fair value of A$84.53 per share.
What do the bullish and bearish scenarios say about MIN?
Our models span a range for Mineral Resources Ltd: cautious scenario A$52.00, base A$84.53, optimistic A$117.04 per share (as of Sep 19, 2026, price A$52.83). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MIN?
Mineral Resources Ltd trades at a price-to-earnings ratio of 26.2 (as of Sep 19, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of A$84.53 is built from several models across several years. Other multiples: PEG 3.3, P/B 2.4, P/S 1.5, EV/EBITDA 6.5.
What is the PEG ratio of MIN?
The PEG ratio of Mineral Resources Ltd is 3.25 (P/E divided by earnings growth, as of Sep 19, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Mineral Resources Ltd (MIN)?
Balance-sheet figures for Mineral Resources Ltd (as of Sep 19, 2026): return on equity 12.1%, debt of 1.66 per unit of equity. They feed the Quality Score of 28/100, which measures business quality independently of the share price.
How far is MIN from its 52-week high?
Mineral Resources Ltd trades at A$52.83, about 30% below its 52-week high of A$74.94 and 167% above the low of A$19.82 (as of Sep 19, 2026). Distance from the high says nothing about value: that is what the fair value of A$84.53 is for.
Which stocks are comparable to Mineral Resources 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 Mineral Resources Ltd stock attractive at the current price?
The data as of Sep 19, 2026: price A$52.83, calculated fair value A$84.53 (+60%), Quality Score 28/100, from 2 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 MIN calculated?
We run Mineral Resources Ltd through 2 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$84.53, 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 16.1 % above its aggregate fair value. Mineral Resources Ltd currently trades 60 % below its own fair value, and the market average says nothing about that. 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 Mineral Resources Ltd (MIN)?
The closing price on Sep 18, 2026 was A$52.83. Our model-based fair value is A$84.53, about +60% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Mineral Resources Ltd right now?
The large discount to fair value meets weak quality (28/100). That raises the risk this is a value trap rather than a bargain. A fairly wide model range (A$52.00 to A$117.04) leaves room in how you read the outcome.
Where does the earnings growth of Mineral Resources Ltd (MIN) come from?
Earnings per share at Mineral Resources Ltd grew +4.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +13.0 %, EBIT margin +5.3 %, tax rate +4.2 %, residual (interest, one-offs) −16.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of Mineral Resources Ltd

How large is the market capitalisation of Mineral Resources Ltd (MIN)?
The market capitalisation of Mineral Resources Ltd is A$10.4B (≈ $7.4B). 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 Mineral Resources Ltd (MIN)?
The price-to-sales ratio of Mineral Resources Ltd is 2.07 (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 Mineral Resources Ltd (MIN)?
Earnings per share at Mineral Resources Ltd are A$2.02 (price ÷ EPS = P/E 26.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Mineral Resources Ltd (MIN)?
The dividend yield of Mineral Resources Ltd is 0.3% (payout 9.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Mineral Resources Ltd (MIN)?
The net margin of Mineral Resources Ltd is −20.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Mineral Resources Ltd (MIN)?
The return on equity (ROE) of Mineral Resources Ltd is 12.1% (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 Mineral Resources Ltd (MIN)?
On an EBIT basis the return on assets of Mineral Resources Ltd is 12.4% (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 Mineral Resources Ltd (MIN)?
The operating margin of Mineral Resources Ltd is 19.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Mineral Resources Ltd (MIN)?
Revenue at Mineral Resources Ltd is growing +33.3% versus a year earlier (3y avg +9.4%). 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 Mineral Resources Ltd (MIN)?
Earnings per share at Mineral Resources Ltd are growing +34.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Mineral Resources Ltd (MIN) generate?
The free cash flow of Mineral Resources Ltd is −A$2.6B (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 Mineral Resources Ltd (MIN) carry?
The net debt of Mineral Resources Ltd is A$5.4B (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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