Vault Minerals Ltd (VAU) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Vault Minerals Ltd stock A$11.59, price A$5.84, upside +98.5%, quality 65 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 2, 2026.
How to read this chart
60‑month range A$0.8334 – A$6.99 · fair‑value band A$6.83 – A$15.06 · the A$5.84 price screens below the A$11.59 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 2, 2026.
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Vault Minerals Limited engages in the exploration, mine development, mine operations and the sale of gold and gold/copper concentrate in Australia and Canada.
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The company operates through Leonora Operations (King of the Hills and Darlot operations), Mount Monger Operation, Deflector Region (Deflector and Rothsay operations), and Sugar Zone Operation segments.
The company was formerly known as Red 5 Limited and changed its name to Vault Minerals Limited in September 2024. Vault Minerals Limited was incorporated in 1995 and is based in South Perth, Australia.
Stock analysis
Vault Minerals Ltd (VAU) currently trades at A$5.84, while our model-based Fair Value estimate is A$11.59, implying the stock looks roughly 50% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of A$11.59 per share, and 18 of the 26 models we run sit above the A$5.84 price.
Bear case: the Multiples group reads lowest at A$5.39, and 8 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: A$6.83 (bear) to A$15.06 (bull), the price of A$5.84 sits below 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 65/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Vault Minerals Ltd reported revenue of A$1.9B in FY2026 versus A$163M in FY2022, a compound +85.4%/yr. Reported net income was A$278M in FY2026.
Key figures
Market cap A$6.1B (≈ $4.2B) Mid · P/E ratio 22.5 · P/S ratio 3.19 · EPS (TTM) A$0.2600 · Dividend yield 1.2% · Net margin 14.5% · Return on equity 13.5% · Return on assets (EBIT) 5.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 68 out of 100 (low confidence).
What moves the price
The share trades about 16% below its 52-week high and 62% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −10% fair-value upside, at 98%, VAU screens cheaper than that median.
Fair Value models
BearA$6.83Fair Value A$11.59BullA$15.06
Price A$5.84 · Upside +98.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 4 months old). Earnings retained since then (A$0.0682 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.
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.80/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+34.5%
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.
+65.8%
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.
+59.0%
Start year 2021 (pandemic). Over 10 years: +34.8% a year
Revenue growth 29 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.
+44.9%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+68.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+67.2%
Dividend (yield on the price)1.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.67.2% vs 4.2%, picking up
Profit margin 2021 to 2026 ⓘ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.−2% → 33%
Pace: the 5-year rate starts in 2021 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−3.3%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+7.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (Australia: IMF forecast 3.0% a year to 2030, 2.9% from 2016 to 2025) that is about −6.0% a year for the price and +4.5% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (21 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.
AI conclusion: Stable margins offer some resilience in the gold business, yet thin evidence of a durable moat and commodity price dependence remain the main constraints on lasting advantages.
Main risk: Commodity price dependence is the single biggest risk to the business, as swings would directly hit margins and financial results in this gold operation.
Vault Minerals is moving closer to a November shareholder vote on the Genesis Minerals merger after court approval cleared the way for the scheme booklet. Nearby operations in Western Australia offer the chance for meaningful synergies once combined. Our models see the company as undervalued. Will the enlarged group deliver greater long-term value through integration than the two companies could generate on their own?
Price, fair value, quality and upside side by side.
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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.Gold · 202 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside+98.5% · Top 25%
Profitability
Return on equity (12 months)13.5% · Above median
Return on assets10.4% · Above median
Net margin (12 months)14.5% · Below median
Operating margin (12 months)39.8% · Above median
Growth and dividend
Revenue growth (quarter YoY)47.3% · Above median
Dividend yield (12 months)1.2% · Below median
Valuation Multiplesvs Gold median · lower = cheaper
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Is Vault Minerals Ltd (VAU) overvalued or undervalued?
As of Nov 2, 2026, our model estimates a fair value of A$11.59 versus a price of A$5.84, about +98% upside (undervalued).
What is the fair value of VAU?
Our model-based fair value for Vault Minerals Ltd is A$11.59 (as of Nov 2, 2026), built from audited fundamentals. The current price: A$5.84.
What is the quality score of VAU?
Vault Minerals Ltd has a Quality Score of 65/100. 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 Vault Minerals Ltd (VAU)?
Our model-based price target is the fair value of A$11.59 (as of Nov 2, 2026) from 26 valuation models. Cautious scenario A$6.83, optimistic scenario A$15.06. It is a calculation from audited fundamentals, not an analyst target.
What is the Vault Minerals Ltd stock forecast for 2026?
Our models put fair value at A$11.59, about +98% upside versus a price of A$5.84 (undervalued). Cautious scenario A$6.83, optimistic scenario A$15.06. The calculation is refreshed regularly with new filings.
What is the revenue of Vault Minerals Ltd (VAU)?
Vault Minerals Ltd reported trailing-twelve-month revenue of about A$1.9B (latest available figure, as of Nov 2, 2026).
Does Vault Minerals Ltd pay a dividend?
Vault Minerals Ltd currently shows a dividend yield of 1.20% relative to its recent price (as of Nov 2, 2026).
How much is the dividend of Vault Minerals Ltd (VAU) and when is the ex-dividend date?
Vault Minerals Ltd pays a dividend of A$0.07 per share a year, a dividend yield of 1.2%. The last ex-dividend date was Mar 10, 2026. The payout ratio is 26.9% of earnings. Free cash flow covers the dividend 7.57 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Vault Minerals Ltd (VAU)?
For today's price to be fair in a discounted-cash-flow model, Vault Minerals Ltd would have to grow free cash flow by -3.3 % per year for five years (discount rate 9.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +59.0 % per year. As of Nov 2, 2026.
What discount rate (WACC) does the fair value of VAU use?
Our models discount Vault Minerals Ltd at 9.7 %: a base by market capitalisation (mid), damped by beta 1.09, country premium for Australia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Vault Minerals Ltd that is -3.3 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.7 %) and the same formula as our fair value.
How much growth has Vault Minerals Ltd (VAU) delivered so far?
Over the past 5 years revenue at Vault Minerals Ltd grew +59.0 % a year. The price currently implies free-cash-flow growth of -3.3 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Vault Minerals Ltd (VAU) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Vault Minerals Ltd (-3.3 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Vault Minerals Ltd (VAU)?
The free-cash-flow yield on the price is 8.93 %: that much free cash flow Vault Minerals Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Vault Minerals Ltd (VAU)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Vault Minerals Ltd it is A$11.59 per share (as of Nov 2, 2026), against a price of A$5.84. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Vault Minerals Ltd stock overvalued or undervalued in 2026?
As of Nov 2, 2026, VAU trades below its calculated fair value: price A$5.84, fair value A$11.59, a gap of about +98% (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 VAU?
No. The price is what the market pays today (A$5.84); the fair value is what the company's own numbers justify (A$11.59). For Vault Minerals Ltd the two are A$5.75 per share apart. That gap is exactly why we show both numbers side by side.
How much is Vault Minerals Ltd worth?
The market values Vault Minerals Ltd at about A$6.1B (market capitalisation, as of Nov 2, 2026). Per share that is A$5.84; our models calculate a fair value of A$11.59 per share.
What do the bullish and bearish scenarios say about VAU?
Our models span a range for Vault Minerals Ltd: cautious scenario A$6.83, base A$11.59, optimistic A$15.06 per share (as of Nov 2, 2026, price A$5.84). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of VAU?
Vault Minerals Ltd trades at a price-to-earnings ratio of 22.5 (as of Nov 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of A$11.59 is built from several models across several years. Other multiples: PEG 1.0, P/B 2.9, P/S 3.2, EV/EBITDA 5.6.
What is the PEG ratio of VAU?
The PEG ratio of Vault Minerals Ltd is 1.00 (P/E divided by earnings growth, as of Nov 2, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Vault Minerals Ltd (VAU)?
Balance-sheet figures for Vault Minerals Ltd (as of Nov 2, 2026): return on equity 13.5%. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is VAU from its 52-week high?
Vault Minerals Ltd trades at A$5.84, about 16% below its 52-week high of A$6.99 and 62% above the low of A$3.61 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of A$11.59 is for.
Which stocks are comparable to Vault Minerals Ltd?
From the same area (Basic Materials) we also value Newmont Corporation, Zijin Mining Group, Agnico Eagle Mines Limited, Wheaton Precious Metals Corp, 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 Vault Minerals Ltd stock attractive at the current price?
The data as of Nov 2, 2026: price A$5.84, calculated fair value A$11.59 (+98%), Quality Score 65/100, from 26 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 VAU calculated?
We run Vault Minerals Ltd through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of A$11.59 builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. Vault Minerals Ltd currently trades 50% 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 Vault Minerals Ltd (VAU)?
The closing price on Nov 6, 2026 was A$5.84. Our model-based fair value is A$11.59, about +98% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Vault Minerals Ltd right now?
The price is below even our cautious bear case (A$6.83). The market is more pessimistic than our downside scenario. Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (A$6.83 to A$15.06) leaves room in how you read the outcome.
Key figures of Vault Minerals Ltd
How large is the market capitalisation of Vault Minerals Ltd (VAU)?
The market capitalisation of Vault Minerals Ltd is A$6.1B (≈ $4.2B). 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 Vault Minerals Ltd (VAU)?
The price-to-sales ratio of Vault Minerals Ltd is 3.19 (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 Vault Minerals Ltd (VAU)?
Earnings per share at Vault Minerals Ltd are A$0.2600 (price ÷ EPS = P/E 22.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Vault Minerals Ltd (VAU)?
The dividend yield of Vault Minerals Ltd is 1.2% (payout 26.9%). 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 Vault Minerals Ltd (VAU)?
The net margin of Vault Minerals Ltd is 14.5% (last twelve months). 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 Vault Minerals Ltd (VAU)?
The return on equity (ROE) of Vault Minerals Ltd is 13.5% (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 Vault Minerals Ltd (VAU)?
On an EBIT basis the return on assets of Vault Minerals Ltd is 5.7% (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 Vault Minerals Ltd (VAU)?
The operating margin of Vault Minerals Ltd is 39.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Vault Minerals Ltd (VAU)?
Revenue at Vault Minerals Ltd is growing +47.3% versus a year earlier (3y avg +65.8%). 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 Vault Minerals Ltd (VAU)?
Earnings per share at Vault Minerals Ltd are growing +166% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Vault Minerals Ltd (VAU) hold?
Vault Minerals Ltd holds more cash than debt, A$751M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 2, 2026