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VHM Ltd (VHM) Fair Value & Analysis

Basic Materials · AU · Market cap A$70.1M (≈ $50.5M) · ISIN AU0000253189

What is VHM Ltd really worth?

VL VHM Ltd VHM · AU
PriceA$0.2000
Fair ValueA$0.1400
Upside−30.0%
Quality20/100

Below-average quality, and trading another 43% above our fair value of A$0.1400.

As of Aug 27, 2026, the fair value of VHM Ltd is A$0.1400 per share against a price of A$0.2000, so the fair value sits 30% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Risks

!Weak Growth (revenue YoY −78.3 %/yr)
!Thin margins · 0.0% net margin
!Low debt · negative free cash flow
!Mixed vs. peers (4/7)
!Narrow moat 13/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range A$0.1000 – A$0.2100

Fair value as of: Aug 27, 2026

From 3 valuation models · updated 10 days ago

Share price −4.8% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • Weak quality (20/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (A$0.1000 to A$0.2100) leaves room in how you read the outcome.

Price vs Fair Value (4 years)

A$1.17 A$0.1850 Fair Value A$0.1400 Jan 2023 Sep 2026

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

44‑month range A$0.1850 – A$1.17 · fair‑value band A$0.1000 – A$0.2100 · the A$0.2000 price screens above the A$0.1400 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.

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Analysis

VHM Ltd (VHM) currently trades at A$0.2000, while our model-based Fair Value estimate is A$0.1400, implying the stock looks roughly 42.9% overvalued today. The Quality Score stands at 20/100 (below-average quality), in the Basic Materials sector. Bull case: the Dividend Discount group reads highest at a median of A$0.6800 per share, and 2 of the 3 models we run sit above the A$0.2000 price. Bear case: the Asset-Based group reads lowest at A$0.1400, and 1 of the 3 models stay below the price. Evidence for this calculation is low.

Trailing-twelve-month revenue stands at A$5.0K. It earns a return on equity of −9.7%. The balance sheet holds a net cash position of A$6.5M. Fundamentals as of Aug 27, 2026

Our scenario range runs from A$0.1000 (bear case) to A$0.2100 (bull case); at A$0.2000, the current price sits within 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 77% below its 52-week high and 11% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −37% fair-value upside, at −30%, VHM screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
Gordon GGM best evidence A$0.6400 A$0.6800 A$0.7400 62
DDM Multi-Stage A$0.6400 A$0.7400 A$0.8600 60
NCAV (Graham) A$0.1000 A$0.1400 A$0.2100 53
All 3 models by family
Dividend Discount
Gordon GGM best evidence A$0.6400 A$0.6800 A$0.7400 62
DDM Multi-Stage A$0.6400 A$0.7400 A$0.8600 60
Asset-Based
NCAV (Graham) A$0.1000 A$0.1400 A$0.2100 53

Widest divergence: Dividend Discount (A$0.6800) versus Asset-Based (A$0.1400). Highest evidence: Gordon GGM (62).

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Key figures & financial health

EPS (TTM) A$−0.0200
Return on equity −9.7% TTM
Return on assets (EBIT) −11.6% avg 5y
Operating margin −119,020% TTM
Revenue (TTM) A$5.0K TTM
Free cash flow −A$9.8M FY2025
More key figures
Balance sheet & cash flow
Net cash A$6.5M FY2025

Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 20/100

Of which business quality 25 · Market factors (momentum, volatility) 10

Profitability 0
Margins and returns on capital today
Quality Growth 33
Are margins and returns improving?
Cashflow 7
Earnings quality: real cash, not paper profit
Fin. Strength 80
Balance sheet, leverage, solvency risk
Investment 24
Disciplined investing over empire-building
Low Volatility 6
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 2
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.

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

VHM Limited engages in the exploration and development of mineral properties in Australia. It primarily explores for rare earths and zircon-titania deposits, as well as mineral sands. The company's flagship project is the Goschen project located in the Loddon-Mallee Region of Victoria.

Full company description

VHM Limited engages in the exploration and development of mineral properties in Australia. It primarily explores for rare earths and zircon-titania deposits, as well as mineral sands. The company's flagship project is the Goschen project located in the Loddon-Mallee Region of Victoria. The company was formerly known as VHM Exploration Limited and changed its name to VHM Limited in November 2018. VHM Limited was incorporated in 2014 and is headquartered in Melbourne, Australia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

VHM Ltd reported revenue of A$5.0K in FY2025 versus A$110K in FY2023, a compound −78.7%/yr. Reported net income was −A$6.4M in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
A$5.0K
Latest YoY
−78.3%
Value creation/yr 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
Revenue −78.7%/yr
FY23 A$110K
FY24 A$23.0K
FY25 A$5.0K
Net income
FY21 −A$6.6M
FY22 −A$9.2M
FY23 −A$17.9M
FY24 −A$7.1M
FY25 −A$6.4M

VHM screens 43% overvalued. Compare with BHP Group →

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Cite: Fair Value Calculator (2026). "VHM Ltd Fair Value". https://www.fairvalue-calculator.com/stock/VHM.AU

Peer Group

Other Industrial Metals & Mining · 469 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 20 · Bottom 25%
Fair Value upside −30% · Above median
Return on assets −5% · Below median
Net margin (TTM) 0% · Above median

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

P/B 0.79× · Cheaper than median

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE0 · sector 38
PAST0 · sector 0
HEALTH100 · sector 96
DIVIDEND0 · sector 37

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

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$66.84 A$42.16 −37%
Vale S.A VALE $15.31 $8.95 −42%
Saudi Arabian Mining Company 1211 65.50 SAR 33.87 SAR −48%
CMOC Group 603993 ¥18.42 ¥16.15 −12%
Teck Resources Limited TECK $69.34 $32.02 −54%
Hindustan Zinc Limited HINDZINC ₹573.00 ₹508.34 −11%
China Tungsten And Hightech Materials Co 000657 ¥66.76 ¥9.55 −86%
China Northern Rare Earth (Group) High-Tech Co 600111 ¥41.02 ¥10.59 −74%
Western Mining Co 601168 ¥37.85 ¥25.99 −31%
Boliden AB BOL kr 527.80 kr 461.48 −13%

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Frequently asked questions

Is VHM Ltd (VHM) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of A$0.1400 versus a price of A$0.2000, about −30% upside (overvalued).
What is the fair value of VHM?
Our model-based fair value for VHM Ltd is A$0.1400 (as of Aug 27, 2026), built from audited fundamentals. The current price: A$0.2000.
What is the quality score of VHM?
VHM Ltd has a Quality Score of 20/100. 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 VHM Ltd (VHM)?
Our model-based price target is the fair value of A$0.1400 (as of Aug 27, 2026) from 3 valuation models. Cautious scenario A$0.1000, optimistic scenario A$0.2100. It is a calculation from audited fundamentals, not an analyst target.
What is the VHM Ltd stock forecast for 2026?
Our models put fair value at A$0.1400, about −30% upside versus a price of A$0.2000 (overvalued). Cautious scenario A$0.1000, optimistic scenario A$0.2100. The calculation is refreshed regularly with new filings.
What is the revenue of VHM Ltd (VHM)?
VHM Ltd reported trailing-twelve-month revenue of about A$5.0K (latest available figure, as of Aug 27, 2026).
What is the net profit margin of VHM?
The net profit margin of VHM Ltd is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.
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