South32ASX:S32 -1.93%71 Net Margin % is 16.52% as of Dec. 2025, which is 1277% above its 10-year median of 1.20. 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 843 Metals & Mining companies, South32 ranks better than 57.18% on this metric.
Net margin is calculated as Net Income divided by its Revenue. South32's Net Income for the
six
months ended in Dec. 2025 was A$698 Mil. South32's Revenue for the
six
months ended in Dec. 2025 was A$4,228 Mil. Therefore, South32's net margin for the quarter that ended in Dec. 2025 was 16.52%.
The historical rank and industry rank for South32's Net Margin % or its related term are showing as below:
ASX:S32'
s Net Margin % Range Over the Past 10 Years
Min: -27.79 Med: 1.2 Max: 28.79
Current: 5.45
ASX:S32's Net Margin % is ranked better than 57.18% of 843
companies
in the Metals & Mining industry
Industry Median: 3.41
vs ASX:S32: 5.45
South32 (ASX:S32) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
South32 Net Margin % Related Terms
South32 Net Margin % Historical Data
* Premium members only.
The historical data trend for South32's Net Margin % 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 Net Margin %, along with its competitors' market caps and Net Margin % 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 Net Margin % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, South32's Net Margin % distribution charts can be found below:
* The bar in red indicates where South32's Net Margin % falls into.
* 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 Net Margin % of 16.52% as of Dec. 2025. Net margin is the ratio of total net income to net sales. View historical data on South32 and its competitors. This is 1277% above median its historical median of 1.20. According to the industry distribution chart, South32 ranks #361 out of 843 companies in the Metals & Mining industry, placing it in the top 42.8%.
Is South32's Net Margin % too high?
South32's current Net Margin % of 16.52% is 1277% above median its 10-year median of 1.20. The Metals & Mining industry median Net Margin % is 3.41. South32's value of 16.52% is 384.5% above this industry median. Based on the distribution chart, South32 ranks #361 out of 843 companies in the Metals & Mining industry, which is above 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 Net Margin % compare to competitors?
According to the Metals & Mining industry distribution chart, South32 ranks #361 out of 843 companies for Net Margin %. This puts South32 in the upper half of its industry. The industry median Net Margin % is 3.41. South32's value of 16.52% is 384.5% above this benchmark. While the company's 10-year median is 1.20 vs. the industry median of 3.41, 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 Net Margin % for a Metals & Mining company?
The median Net Margin % among Metals & Mining companies is 3.41, based on 843 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. South32's current Net Margin % of 16.52% is 384.5% 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 Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on South32 and its competitors. For the Metals & Mining industry, the median Net Margin % is 3.41 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. South32's current Net Margin % is 16.52%, which is 1277% above median its own 10-year median of 1.20. 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 Net Margin % is 16.52%, which is 1277% above median its 10-year median of 1.20 and 384.5% above the Metals & Mining industry median of 3.41. 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 Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For South32 (ASX:S32), the current Net Margin % is 16.52% as of Dec. 2025. 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:
Net Margin %: 16.52% (1277% above median its 10-year median of 1.20)
GF Value™: A$3.71 vs. price of A$4.06 (9.4% above fair value)
Industry Position: 384.5% above the Metals & Mining median (#361 of 843)
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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