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Sandfire Resources Limited (SFR) Fair Value & Analysis

Basic Materials · AU · Market cap A$8.2B

SR Sandfire Resources Limited SFR · AU
PriceA$21.15
Fair ValueA$3.39
Upside-84.0%
Quality70/100
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Mixed Growth
Solidly profitable · 10.8% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/14)
Moderate moat 54/100
Evidence: High Range A$2.82 – A$4.24 Share as image

Fair value as of: Jul 18, 2026

From 26 valuation models · updated 23 days ago

Fair value updated Jul 18, 2026, revised from A$3.56 to A$3.39 (−4.8%) since Jun 24, 2026. Share price +12.3% over the past month.

A solid business, but screening 84% overvalued on our models.

What matters now

  • A high-quality business (quality 70/100), 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$4.24). The favourable scenario is already priced in.
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Price vs Fair Value (5 years)

A$21.50 A$3.25 Fair Value A$3.39 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range A$3.25 – A$21.50 · fair‑value band A$2.82 – A$4.24 · the A$21.15 price screens above the A$3.39 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Sandfire Resources Limited (SFR) currently trades at A$21.15, while our model-based Fair Value estimate is A$3.39, implying the stock looks roughly 84.0% overvalued today. The Quality Score stands at 70/100 (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, Sandfire Resources Limited generated revenue of A$1.3B at a net margin of 10.8%. Revenue grew 17.3% year over year. It earns a return on equity of 7.5%. Net debt stands at A$143M. Fundamentals as of Jul 18, 2026

Our scenario range runs from A$2.82 (bear case) to A$4.24 (bull case); at A$21.15, 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 3% below its 52-week high and 109% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -46% fair-value upside, at -84%, SFR 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 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
Highest evidence
Growth DCF A$10.53 A$20.28 A$35.97 80
Residual Income A$2.94 A$3.01 A$2.91 76
Rev-Margin DCF A$5.66 A$9.14 A$16.50 74
All 26 models by family
DCF Models
FCF DCF A$11.23 A$17.43 A$36.75 38
Owner Earnings A$12.48 A$27.97 A$59.28 31
5Y Revenue Exit A$5.17 A$7.94 A$13.63 39
5Y EBITDA Exit A$11.51 A$20.76 A$38.90 41
5Y P/E Exit A$4.91 A$9.06 A$14.34 38
10Y Revenue Exit A$6.96 A$12.81 A$15.67 36
10Y EBITDA Exit A$11.60 A$26.15 A$51.52 37
10Y P/E Exit A$6.89 A$12.26 A$20.21 35
Earnings-Based
Graham-Dodd A$1.36 A$9.47 A$13.29 54
Lynch FV A$4.89 A$6.99 A$9.09 50
PEG = 1.0 A$4.89 A$6.99 A$9.09 46
EPV A$2.72 A$3.19 A$3.60 59
Dividend Discount
Gordon GGM A$2.13 A$4.24 A$6.43 70
DDM Multi-Stage A$2.13 A$3.67 A$4.48 61
Multiples
P/E Multiple A$2.55 A$3.39 A$4.24 63
P/S Multiple A$2.55 A$3.39 A$4.24 58
P/B Multiple A$2.55 A$3.39 A$4.24 55
EV/EBIT A$4.73 A$6.39 A$8.05 53
EV/EBITDA A$11.23 A$15.06 A$18.89 54
EV/Revenue A$2.45 A$3.61 A$4.77 43
Asset-Based
NCAV (Graham) A$1.91 A$2.56 A$3.83 50
Growth DCF
Growth DCF A$10.53 A$20.28 A$35.97 80
Rev-Margin DCF A$5.66 A$9.14 A$16.50 74
Economic Profit
Residual Income A$2.94 A$3.01 A$2.91 76
ROIC Compounder A$2.72 A$3.19 A$3.60 72
Growth Earnings
Growth-Adj P/E A$6.02 A$8.60 A$11.18 68

Widest divergence: DCF Models (A$12.81) versus Asset-Based (A$2.56). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) A$1.3B
Revenue growth (YoY) +17.3%
Net margin 10.8%
Return on equity 7.5%
Free cash flow A$337M FY2025
P/E ratio 41.0
More key figures
Operating margin 22.7%
EPS (TTM) A$0.4300
EPS growth (YoY) +86.6%
Net debt A$143M FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 70/100

Of which business quality 68 · Market factors (momentum, volatility) 67

Profitability 35
Margins and returns on capital today
Quality Growth 97
Are margins and returns improving?
Cashflow 87
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 75
Disciplined investing over empire-building
Low Volatility 26
Calm price path (market factor)
Momentum 77
Price trend over the last 3–12 months (market factor)
52W Momentum 97
Distance to the 52-week high (market factor)
Net Issuance 56
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

Sandfire Resources Limited, a mining company, explores for, evaluates, and develops mineral tenements and projects. It primarily explores for copper, gold, silver, lead, and zinc deposits. The company was incorporated in 2003 and is based in West Perth, Australia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sandfire Resources Limited reported revenue of A$1.2B in FY2025 versus A$772M in FY2021, a compound +11.7%/yr. Reported net income was A$93.3M in FY2025, compounding −14.2%/yr from FY2021.

Growth Quality 86/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
A$1.2B
Latest YoY
+28.3%
Avg. growth/yr (3Y) 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.
+9.3%
Avg. growth/yr (5Y) 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.
+13.3%
Avg. growth/yr (21Y) 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.
+58.6%
Revenue +11.7%/yr
FY21 A$772M
FY22 A$922M
FY23 A$806M
FY24 A$938M
FY25 A$1.2B
Net income −14.2%/yr
FY21 A$172M
FY22 A$154M
FY23 −A$76.7M
FY24 −A$17.3M
FY25 A$93.3M

SFR screens 84% overvalued. Compare with Southern Copper Corporation →

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Cite: Fair Value Calculator (2026). "Sandfire Resources Limited Fair Value". https://www.fairvalue-calculator.com/stock/SFR

Peer Group

Copper · 59 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 70 · Top 25%
Fair Value upside −84% · Bottom 25%
Return on equity (TTM) 8% · Above median
Return on assets 6% · Above median
Net margin (TTM) 11% · Above median
Operating margin (TTM) 23% · Above median
Revenue growth 17% · Below median
Debt / equity 0.13× · Lower than median

Valuation Multiples vs Copper median · lower = cheaper

P/E (TTM) 41.0× · Pricier than 75% of peers
P/B 3.26× · Pricier than 75% of peers
P/S (TTM) 4.51× · Pricier than 75% of peers
P/FCF 17.3× · Pricier than median
EV/EBITDA 10.6× · Pricier than median
PEG 0.56× · Cheaper 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 87 · sector 100
PAST 30 · sector 17
HEALTH 94 · sector 93
DIVIDEND 0 · sector 20

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 Copper stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Southern Copper Corporation SCCO $175.66 $86.74 -51%
Freeport-McMoRan Inc FCX $61.52 $22.81 -63%
Lundin Mining Corporation LUN C$34.86 C$18.67 -46%
Jiangxi Copper Company 600362 ¥39.03 ¥35.19 -10%
Tongling Nonferrous Metals Group 000630 ¥5.79 ¥3.06 -47%
Hudbay Minerals Inc HBM C$28.58 C$21.79 -24%
Zhejiang Hailiang Co 002203 ¥16.66 ¥7.00 -58%
Capstone Copper Corp CSC A$13.06 A$7.28 -44%
Yunnan Copper Co 000878 ¥14.32 ¥9.12 -36%
China Nonferrous Mining Corporation 1258 HK$14.75 HK$1.76 -88%

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Frequently asked questions

Is Sandfire Resources Limited (SFR) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of A$3.39 versus a price of A$21.15, about −84% (overvalued).
What is the fair value of SFR?
Our model-based fair value for Sandfire Resources Limited is A$3.39 (as of Jul 18, 2026), built from audited fundamentals. The current price is A$21.15.
What is the quality score of SFR?
Sandfire Resources Limited has a Quality Score of 70/100. 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 Sandfire Resources Limited (SFR)?
Sandfire Resources Limited reported trailing-twelve-month revenue of about A$1.3B (latest available figure, as of Jul 18, 2026).
What is the net profit margin of SFR?
The net profit margin of Sandfire Resources Limited is about 10.8%, meaning it keeps roughly 10.8% of revenue as net income. 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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