# Antofagasta plc (ANTO.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Basic Materials / Metals & Mining. Price 4032p, market value 39.7 billionp.

## Valuation
- **P/E (trailing): 32.5×** (5-yr avg 1655.5×, 3-yr avg 2086.9×). Antofagasta plc trades at 32.5× trailing earnings, well below its own five-year average of 1655.5×: cheap by its own standards. The Basic Materials median in the September 2026 study was 19.0×. Forward P/E is 26.6×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.42**. A PEG of 0.42 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 4.0×**. Each dollar of revenue is priced at 4.0×.
- **Price / book: 5.0×**. The shares trade at 5.0× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 7.9×**. Enterprise value is 7.9× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: -0.7%** (5-yr avg 0.0%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 3.1%**. The inverse of the P/E: 3.1% of the price is earned each year.

## Profitability
- **Gross margin: 44.3%**. Antofagasta plc keeps 44.3% of revenue after the direct cost of what it sells.
- **Operating margin: 36.8%**. 36.8% of revenue is left after running the business, an exceptional level.
- **Net margin: 15.4%**. 15.4% of each dollar of sales reaches the bottom line.
- **Return on equity: 13.1%**. 13.1% on shareholders' equity is solid.
- **Return on invested capital: 24.0%**. Return on all capital, debt included, is 24.0%: comfortably above what that capital costs.
- **Return on assets: 7.2%**. Each dollar of assets produces 7.2% of profit.

## Growth
- **Revenue growth (1 yr): 33.1%** (3-yr 14.5%/yr, 5-yr 11.4%/yr). Revenue grew 33.1% over the last year, against 11.4% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 63.1%** (3-yr -4.0%/yr, 5-yr 21.9%/yr). Earnings per share rose 63.1%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Debt to equity: 0.75**. Debt is 0.75 times equity, moderate leverage.
- **Net debt / EBITDA: 0.4×**. It would take 0.4 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 17.5×**. Operating profit covers interest 17.5× over, a safe margin.
- **Current ratio: 2.90** (quick 2.60). Current assets cover the next year's liabilities 2.90 times.
- **Altman Z-score: 3.47**. A Z-score of 3.47 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 8/9**. 8 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend yield: 1.48%** (1p per share, trailing). Antofagasta plc yields 1.48%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 30%**. 30% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 1**. 1 straight year of increases.
- **Dividend growth (5 yr): 24.2%/yr** (1-yr 16.9%). The dividend has compounded at 24.2% a year over five years, doubling roughly every 3 years at that pace.
- **Shareholder yield: 1.5%**. Dividends plus net buybacks return 1.5% of the market value a year.

## Analyst view
- **Analyst consensus: hold** (21 analysts). 21 analysts cover Antofagasta plc; the consensus is hold, with an average price target of 3816p (-5% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 83.4%** (YTD 19.3%, 3-mo -2.1%). The shares are up 83.4% over twelve months including dividends.
- **From 52-week high: -9.9%** (86.5% above the low). Trading 10% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 53**. An RSI of 53 is neutral.
- **Beta (1 yr): 2.29** (volatility 51%). Beta of 2.29 against the FTSE All-Share: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=ANTO.L · Page: https://foliofundamentals.com/stocks/anto.l

Not investment advice.