Pilbara Minerals Ltd (PLS) Fair Value & Analysis
Basic Materials · AU · Market cap A$17.1B
Strengths
Risks
Fair value as of: Aug 27, 2026
From 2 valuation models · updated today
Fair value updated Aug 27, 2026, revised from A$0.7200 to A$2.77 (+284.7%) since Aug 13, 2026. Share price +24.5% over the past month.
A solid business, but trading 91% above our fair value.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- A high-quality business (quality 73/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case (A$4.13). The favourable scenario is already priced in.
- A fairly wide model range (A$2.08 to A$4.13) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.
How to read this chart
60‑month range A$1.14 – A$6.74 · fair‑value band A$2.08 – A$4.13 · the A$5.29 price screens above the A$2.77 fair value. Dashed = 300-day average. As of Aug 27, 2026.
Analysis
Pilbara Minerals Ltd (PLS) currently trades at A$5.29, while our model-based Fair Value estimate is A$2.77, implying the stock looks roughly 47.6% overvalued today. The Quality Score stands at 73/100 (solid 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: high).
Over the trailing twelve months, Pilbara Minerals Ltd generated revenue of A$967M at a net margin of -9.7%. Revenue grew 46.6% year over year. It earns a return on equity of -2.8%. The balance sheet holds a net cash position of A$1.1B. Fundamentals as of Aug 27, 2026
Our scenario range runs from A$2.08 (bear case) to A$4.13 (bull case); at A$5.29, 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 22% below its 52-week high and 348% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -34% fair-value upside, at -48%, PLS 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.
All 2 models by family
Widest divergence: Multiples (A$0.7900) versus Asset-Based (A$0.7300). Highest evidence: EV/EBITDA (54).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 74 · Market factors (momentum, volatility) 60
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
PLS Group Limited engages in the exploration, development, and operation of mineral resources in Australia. The company primarily explores for lithium. Its flagship projects is the 100% owned Pilgangoora project located in the Pilbara region of Western Australia.
Full company description
PLS Group Limited engages in the exploration, development, and operation of mineral resources in Australia. The company primarily explores for lithium. Its flagship projects is the 100% owned Pilgangoora project located in the Pilbara region of Western Australia. The company was formerly known as Pilbara Minerals Limited and changed its name to PLS Group Limited in November 2025. The company was incorporated in 2005 and is based in West Perth, Australia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Pilbara Minerals Ltd reported revenue of A$1.9B in FY2026 versus A$1.2B in FY2022, a compound +13.0%/yr. Reported net income was A$526M in FY2026, compounding −1.6%/yr from FY2022.
PLS screens 48% overvalued. Compare with BHP Group →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Lithium Ionic Completes US$37.5 Million Sale of its Salinas Group of Lithium Properties to PLS
- PLS Group Ltd (PILBF) (FY 2026) Earnings Call Highlights: Record Production and Revenue Surge ...
- Lithium Ionic to sell Salinas lithium assets to PLS Brasil Mineração
- Lithium Ionic Announces Agreement to Sell its Salinas Group of Lithium Properties to PLS for US$37.5 Million in Cash, Retaining a 2.0% Royal
Peer Group
Other Industrial Metals & Mining · 483 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.
Valuation Multiples vs Other Industrial Metals & Mining median · lower = cheaper
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: 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.
Similar stocks
10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| BHP Group BHP | A$63.71 | A$42.33 | -34% |
| Vale S.A VALE | $13.63 | $8.95 | -34% |
| Saudi Arabian Mining Company 1211 | 65.50 SAR | 33.87 SAR | -48% |
| CMOC Group 603993 | ¥18.42 | ¥16.15 | -12% |
| Teck Resources Limited TECK | $65.95 | $31.92 | -52% |
| China Tungsten And Hightech Materials Co 000657 | ¥70.43 | ¥9.55 | -86% |
| Hindustan Zinc Limited HINDZINC | ₹573.00 | ₹508.34 | -11% |
| China Northern Rare Earth (Group) High-Tech Co 600111 | ¥41.02 | ¥10.59 | -74% |
| Boliden AB BOL | kr 527.80 | kr 461.48 | -13% |
| Western Mining Co 601168 | ¥37.85 | ¥25.99 | -31% |
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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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