South32 Limited (S32.AX)

DCF Valuation · Basic Materials · Other Industrial Metals & Mining

Valuation as at 2026-08-14 · see also the ASX 300 Most Undervalued screen

About South32 Limited

South32 Limited operates as a diversified metals and mining company. The company operates through Worsley Alumina, Brazil Alumina, Brazil Aluminium, Hillside Aluminium, Mozal Aluminium, Sierra Gorda, Cannington, Hermosa, Australia Manganese, and South Africa Manganese segments. It has a portfolio of assets producing bauxite, alumina, aluminum, copper, silver, lead, zinc, and manganese products.

Source: Yahoo Finance company profile · factual description, not KashVector commentary

South32 Limited S32.AX

Basic Materials · Other Industrial Metals & Mining

Price
$4.70
Market Cap
$21.04B
Free Cash Flow
-$0.20B
Beta
0.69
P/E (TTM)
39.1x
52-Week Range
$2.52–$5.19

South32 Limited's price & financial trends

Annual reporting periods — this market does not have reliable quarterly data on Yahoo (either it isn't required, or coverage is incomplete), so annual is the most granular consistent series across free cash flow and dividends.

Data as at 2026-08-14

Share price · last 2 years

$4.70 +50% vs 2024-08
ASX 200 $3.14$3.36$2.91$3.31$4.03$4.70 2024-082025-012025-062025-112026-042026-08

Earnings per share (diluted) Per year

$0.05 -92% vs FY22
$0.57-$0.04-$0.05$0.05FY22FY23FY24FY25

Free cash flow Per year

$0.33B -87% vs FY22
$2.47B$0.24B-$0.00B$0.33BFY22FY23FY24FY25

Dividend per share Per year

$0.06 -54% vs FY22
$0.14$0.22$0.04$0.06FY22FY23FY24FY25

Value investing scale · Buffett · Dalio · Graham

Strong Fit
14 / 20 combined score

See the full Buffett, Dalio & Graham breakdown for S32.AX →

Intrinsic value estimate · 5-year forecast · Revenue-normalised

BEAR
$1.74
vs current $4.70
-63.0% ❌ Overvalued
BASE
$2.68
vs current $4.70
-42.9% ❌ Overvalued
BULL
$4.24
vs current $4.70
-9.6% ⚠️ Fairly Valued

Assumptions used in this valuation

Every input below is either fetched live from Yahoo Finance or a documented default — nothing is hidden.

Starting free cash flow
$0.45B
Revenue × 5.4% target margin — reported FCF unavailable
Risk-free rate
4.80% ● LIVE
Live 10-yr govt bond
Beta
0.69
Floored for non-US stocks
Equity risk premium
6.00%
Market-specific seed
Cost of debt
6.10%
Synthetic rating A-, ICR 4.6x
Tax rate
25.00%
Estimated default
Capital structure
E 90% / D 10%
Market cap vs total debt
Projection horizon
5 years
+ terminal value beyond
BearBaseBull
5-yr FCF growth6.7%13.3%20.0%
Terminal growth2.5%2.5%2.5%
WACC (discount rate)9.50%8.50%7.50%

Cost of Equity = Risk-free rate + Beta × Equity Risk Premium = 4.80% + 0.69 × 6.00% = 8.95% · WACC = weighted by 90%/10% capital structure

These numbers come from running South32 Limited's cash flows through the mechanical DCF formula and assumptions above — not from any view on the news, management, or S32.AX's competitive position. What is DCF?

Want to test your own growth or discount-rate assumptions?Open the full interactive calculator, pre-filled with S32.AX →

More ASX stocks we've valued

Not financial advice. DCF valuations are highly sensitive to assumptions — small changes in growth rate or discount rate produce large swings in output. This is a mechanical calculation, not a recommendation to buy, hold, or sell.

About this valuation

Computed on 2026-08-14 from Yahoo Finance data, using the same engine as the full DCF tool and the ASX 300 Most Undervalued screen. Every figure above is a point-in-time snapshot of that date — change any assumption yourself in the interactive tool for a live one.

Frequently asked questions

Is South32 Limited (S32.AX) undervalued?

The Base-case DCF estimates intrinsic value at $2.68 vs a price of $4.70 on 2026-08-14 — a -42.9% margin, so the Base case reads overvalued. This is a mechanical output, not advice.