South32ASX:S32 -1.93%71 EV-to-FCF is 31.39 as of Jun. 25, 2026, which is 192% above its 10-year median of 10.74. GuruFocus rates ASX:S32 with a GF Score™ of 71/100 and a GF Value™ of A$3.71 (Fairly Valued). The stock has 4 warning signs investors should review. Among 445 Metals & Mining companies, South32 ranks worse than 64.72% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, South32's Enterprise Value is A$18,229 Mil.
South32's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was A$581 Mil. Therefore, South32's EV-to-FCF for today is 31.39.
The historical rank and industry rank for South32's EV-to-FCF or its related term are showing as below:
ASX:S32'
s EV-to-FCF Range Over the Past 10 Years
Min: -6114.77 Med: 10.74 Max: 53.23
Current: 31.93
During the past 13 years, the highest EV-to-FCF of South32 was 53.23. The lowest was -6114.77. And the median was 10.74.
ASX:S32's EV-to-FCF is ranked worse than 64.72% of 445
companies
in the Metals & Mining industry
Industry Median: 19.18
vs ASX:S32: 31.93
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
South32's share price for today is A$4.06.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. South32's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was A$0.104.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
South32 EV-to-FCF Related Terms
South32 EV-to-FCF Historical Data
* Premium members only.
The historical data trend for South32's EV-to-FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Other Industrial Metals & Mining subindustry, South32's EV-to-FCF, along with its competitors' market caps and EV-to-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
South32 EV-to-FCF vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, South32's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where South32's EV-to-FCF falls into.
South32's current Enterprise Value is A$18,229 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. South32's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was A$581 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
South32 (ASX:S32) has a EV-to-FCF of 31.39 as of Jun. 25, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on South32 and its competitors. This is 192% above median its historical median of 10.74. According to the industry distribution chart, South32 ranks #288 out of 445 companies in the Metals & Mining industry, placing it in the top 64.7%.
Is South32's EV-to-FCF too high?
South32's current EV-to-FCF of 31.39 is 192% above median its 10-year median of 10.74. The Metals & Mining industry median EV-to-FCF is 19.18. South32's value of 31.39 is 63.7% above this industry median. Based on the distribution chart, South32 ranks #288 out of 445 companies in the Metals & Mining industry, which is below the industry midpoint. Overall, South32 has a GF Score™ of 71/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does South32's EV-to-FCF compare to competitors?
According to the Metals & Mining industry distribution chart, South32 ranks #288 out of 445 companies for EV-to-FCF. This places South32 in the lower half of its industry. The industry median EV-to-FCF is 19.18. South32's value of 31.39 is 63.7% above this benchmark. While the company's 10-year median is 10.74 vs. the industry median of 19.18, South32 has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for a Metals & Mining company?
The median EV-to-FCF among Metals & Mining companies is 19.18, based on 445 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. South32's current EV-to-FCF of 31.39 is 63.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on South32 and its competitors. For the Metals & Mining industry, the median EV-to-FCF is 19.18 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. South32's current EV-to-FCF is 31.39, which is 192% above median its own 10-year median of 10.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is South32 stock overvalued right now?
Based on GuruFocus' analysis, South32 (ASX:S32) is currently considered Fairly Valued. The stock's GF Value™ is A$3.71, compared to a current price of A$4.06 — trading 9.4% above its estimated fair value. The current EV-to-FCF is 31.39, which is 192% above median its 10-year median of 10.74 and 63.7% above the Metals & Mining industry median of 19.18. South32's overall GF Score™ is 71/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For South32 (ASX:S32), the current EV-to-FCF is 31.39 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is South32 (ASX:S32) Overvalued in 2026?
Based on GuruFocus' analysis, South32 stock appears to be overvalued.
The current stock price of A$4.06 is trading 9.4% above its estimated GF Value™ of A$3.71.
GuruFocus considers South32 to be Fairly Valued.
Key valuation signals for ASX:S32:
EV-to-FCF: 31.39 (192% above median its 10-year median of 10.74)
GF Value™: A$3.71 vs. price of A$4.06 (9.4% above fair value)
Industry Position: 63.7% above the Metals & Mining median (#288 of 445)
No single metric tells the full story. See the ASX:S32 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
South32 was born of the demerger of noncore assets from BHP in 2015. Its major operations include alumina businesses in Australia and Brazil, aluminum in Brazil, South Africa, and Mozambique, and manganese businesses in Australia and South Africa. It sold New South Wales metallurgical coal in August 2024 and the Cerro Matoso nickel mine in Colombia in December 2025. It also owns the Cannington silver/lead/zinc mine in Queensland. Its Australian manganese operations deliver high returns, but have a relatively short reserve life. The company acquired Arizona Mining, which brings with it the high-grade and likely low-cost Taylor project in the US, and also entered the copper business in 2022 via the purchase of a 45% stake in the Sierra Gorda mine in Chile.
71GF Score
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