# Glencore plc (GLEN.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Basic Materials / Metals & Mining. Price 611p, market value 71.7 billionp.

## Valuation
- **P/E (trailing): 18.5×** (5-yr avg 4014.5×, 3-yr avg 7314.4×). Glencore plc trades at 18.5× trailing earnings, well below its own five-year average of 4014.5×: cheap by its own standards. The Basic Materials median in the September 2026 study was 19.0×. Forward P/E is 14.0×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.11**. A PEG of 0.11 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 0.2×**. Each dollar of revenue is priced at 0.2×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 2.3×**. The shares trade at 2.3× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 6.9×**. Enterprise value is 6.9× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 4.7%** (5-yr avg 0.1%). Free cash flow equals 4.7% of the market value, above its five-year average of 0.1%, so the shares are cheaper on cash than they have usually been.
- **Earnings yield: 5.4%**. The inverse of the P/E: 5.4% of the price is earned each year.

## Profitability
- **Gross margin: 2.5%**. Glencore plc keeps 2.5% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: 1.5%**. 1.5% of revenue is left after running the business, which leaves little cushion in a downturn.
- **Net margin: 0.1%**. 0.1% of each dollar of sales reaches the bottom line.
- **Return on equity: 1.0%**. 1.0% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 9.3%**. Return on all capital, debt included, is 9.3%.
- **Return on assets: -0.9%**. Each dollar of assets produces -0.9% of profit.

## Growth
- **Revenue growth (1 yr): 9.4%** (3-yr -0.4%/yr, 5-yr 12.2%/yr). Revenue grew 9.4% over the last year, against 12.2% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 123.6%** (3-yr -71.5%/yr). Earnings per share rose 123.6%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): -65.3%/yr**. Free cash flow has compounded at -65.3% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 1.07**. Debt is 1.07 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 2.0×**. It would take 2.0 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 1.4×**. Operating profit covers interest only 1.4×: fragile.
- **Current ratio: 1.06** (quick 0.54). Current assets cover the next year's liabilities 1.06 times.
- **Altman Z-score: 2.65**. A Z-score of 2.65 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend yield: 2.09%** (0p per share, trailing). Glencore plc yields 2.09%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 328%** (60% of free cash flow). The dividend exceeds earnings (328% payout), though free cash flow still covers it.
- **Shareholder yield: 4.3%**. Dividends plus net buybacks return 4.3% of the market value a year.

## Analyst view
- **Analyst consensus: buy** (20 analysts). 20 analysts cover Glencore plc; the consensus is buy, with an average price target of 629p (+3% 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): 108.0%** (YTD 46.8%, 3-mo 1.4%). The shares are up 108.0% over twelve months including dividends.
- **From 52-week high: -13.7%** (113.2% above the low). Trading 14% 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): 61**. An RSI of 61 is neutral.
- **Beta (1 yr): 1.05** (volatility 31%). Beta of 1.05 against the FTSE All-Share: the shares move roughly with the market.

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

Not investment advice.