greeksoup/ stock research
Stock research / Foreign companies / BHP · Metal Mining

BHP Group Limited (BHP)

BHP mines copper, iron ore, coal and potash. It reports three segments, Copper, Iron Ore and Coal, with potash, Western Australia Nickel, legacy assets and central functions sitting in group and unallocated items. The financial year ends on 30 June and figures are stated in US dollars. Copper contributed 54% of group underlying EBITDA in FY2026, Iron Ore 43% and Coal 3%. Gearing was 13.4% at the year end against 19.8% a year earlier.

BHP Group Limited

BHP mines copper, iron ore, coal and potash. It reports three segments, Copper, Iron Ore and Coal, with potash, Western Australia Nickel, legacy assets and central functions sitting in group and unallocated items. The financial year ends on 30 June and figures are stated in US dollars. Copper contributed 54% of group underlying EBITDA in FY2026, Iron Ore 43% and Coal 3%. Gearing was 13.4% at the year end against 19.8% a year earlier.

Copper

Copper sales were US$29,031 million against US$22,530 million the year before. The underlying EBITDA margin was 70% and the return on capital employed 26% against 17%. Production was 1,953 kt against 2,017 kt, at an average realised price of US$5.74 a pound against US$4.25. Unit costs were US$1.07 a pound at Escondida, US$2.15 at Spence and US$0.32 at Copper South Australia against US$1.18. Olympic Dam in Copper South Australia set a 20-year copper production record, while record material moved and record concentrator throughput at Escondida helped offset an anticipated decline in ore grade. The filing states that BHP remained the world's largest copper producer and that copper contributed more than half of earnings for the first time.

Iron Ore

Iron ore sales were US$23,883 million against US$22,919 million. The underlying EBITDA margin was 61% and the return on capital employed 55% against 64%. Production was 265 Mt against 263 Mt at an average realised price of US$84.56 a wet metric tonne on a free on board basis. WAIO unit cost was US$19.66 a tonne against US$18.56, and the filing states that WAIO held its position as the world's lowest cost major iron ore producer for a seventh year, with a cost advantage of more than US$10 a tonne over its nearest Pilbara competitor. The Argus 62% Fe iron ore fines price into China averaged US$105 a dry metric tonne, up 4%.

Coal

Coal sales were US$5,590 million against US$5,046 million. The underlying EBITDA margin was 15%. Steelmaking coal production was 18.6 Mt against 18.0 Mt and energy coal production 16.4 Mt against 15.0 Mt. Realised prices were US$210.21 a tonne for steelmaking coal against US$193.82 and US$104.28 a tonne for energy coal against US$107.80, with BMA unit cost at US$134.05 a tonne against US$127.50. The filing states that BMA's open-cut steelmaking coal operations increased production and achieved their highest stripping volumes in five years, and that New South Wales Energy Coal exceeded its production guidance.

Potash and nickel

Potash and Western Australia Nickel sit outside the three reported segments. Jansen, about 140 kilometres east of Saskatoon in Saskatchewan, is the potash development, being built in stages with Stage 1 expected to produce 4.15 Mt of potash a year once fully ramped up, and the company states that first potash is projected for mid-CY2027 and that Jansen can eventually produce around 10 per cent of global potash supply at an expected earnings margin greater than 60 per cent. Western Australia Nickel is Nickel West and the West Musgrave project, and it transitioned into temporary suspension at the end of the first half of FY2025 following oversupply in the global nickel market, with BHP assessing a potential divestment of the assets by February 2027.

The growth pipeline

Plans for a new concentrator at Escondida have been submitted to environmental authorities in Chile, and Copper South Australia's expansion plans have progressed to detailed engineering ahead of a final investment decision. Two sustaining growth projects were sanctioned at Spence in June, with the filing putting first production from FY2028. Regulatory milestones were reached at the non-operated joint ventures Vicuña and Resolution, and the company took an investment in Faraday Copper. It states that it aims to deliver compound annual production growth on a copper-equivalent basis of around 3 to 4 per cent a year from FY2027 through to FY2035, including growth in copper of around 5 per cent a year.

From BHP's annual report on Form 20-F for the year ended 30 June 2026. That filing carries no Item 4 or Item 5 heading in its body, using a cross-reference index at the back instead, so the annual report is read as one whole document rather than from separately located sections. The filing

Compare with another name

BHP Group Limited files a 20-F with the SEC once a year, in US dollars. In the year to 30 June 2026 it reported revenue of USD 58,760 million, up 14.6% on the year before. Its profit attributable to shareholders was USD 9,833 million, up 9.0%, and diluted earnings per share USD 1.93.

BHP Group (BHP) in brief

BHP Group (BHP) reported revenue of USD 58.8 billion for the year to 30 June 2026, up 14.6% on the year before.
Read moreProfit attributable to shareholders was USD 9.8 billion and diluted earnings per share USD 1.93. Revenue was USD 51.3 billion in the year to 30 June 2025, USD 55.7 billion in the year to 30 June 2024, USD 53.8 billion in the year to 30 June 2023 and USD 65.1 billion in the year to 30 June 2022. Profit attributable to shareholders in the same years was USD 9.0 billion, USD 7.9 billion, USD 12.9 billion and USD 30.9 billion. Revenue grew 0.6% a year, compounded, over the five years to the year to 30 June 2026. At the close of 10 November 2026 the market cap of BHP Group was $206.1 billion, 21.0 times its earnings for the year to 30 June 2026.

The share in the US

Last close$81.11 on 10 November 2026
52-week range$52.58 (20 November 2025) to $98.69 (25 August 2026)
Over one yearup 45.2%
Market cap$206.1 billion: 5,081,391,706 shares outstanding at 30 June 2026 (20-F), each US share standing for 2 ordinary shares
P/E, latest fiscal year21.0: the last close over diluted EPS for the year to Jun 2026, USD 1.93 per ordinary share times 2, USD 3.86 per US share. The company reports once a year, so this is the latest fiscal year, not the last four quarters.
US dollars per share as it trades in the US; the market cap and the P/E are worked out here, not filed.
Read morePrices from IEX, for splits; here, for spin-offs, from the company's filings.

Ratios

From the latest annual report, the year to Jun 2026, in dollars

ROE19.3%
ROCE32.0%
Operating margin40.6%
Net margin16.7%
FCF margin20.3%
Interest cover11.59
Debt to equity0.46
Cash conversion2.21
Share count, last 12 months0.1%
Sales CAGR, 3 years3.0%
Profit CAGR, 3 years-8.7%
EPS$3.86

At the close of 10 November 2026

Price$81.11
Market cap$206.1 billion
Stock P/E20.99
Price to book4.05
EV / EBITDAn/a
Dividend yield3.3%
Market cap / sales3.51
52-week high$98.69
52-week low$52.58
Price, 1 year45.2%
Price CAGR, 3 yearsn/a
Price CAGR, 5 yearsn/a
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowings total BHP Group Limited states in its annual report, never added up from its parts; lease liabilities are a separate line. Nothing here is a valuation or a view.
BHPgreeksoup.ai
Daily prices to 10 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. This company reports once a year, so every view here moves once a year, on the day each annual report was filed, and holds until the next. P/E is the close over the year's EPS per US share: the EPS as filed, times the 2 ordinary shares one US share stands for. Sales and margin are each year's revenue and its operating margin. EV/EBITDA, price to book and market cap to sales set the close against that year's balance sheet and its share count per US share. The dashed line is the median over the range shown. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on BHP

Dividends$1.24 a share in FY2025
Filings34 in twelve months: 32 reports on Form 6-K, most often change of Director’s Interest Notice (2); BHP Annual General Meeting 2026 results (1); BHP Annual General Meeting 2026 addresses (1); operational review for the quarter ended 30 September 2026 (1); ESG Roundtable (1)
Planned insider salesno Form 144 notice in twelve months
Options tapeput/call 2.09 by open interest at the 10 November 2026 close; the straddle prices a 5.2% move to 20 November 2026
13F holders827 funds reported a position for the quarter to 30 June 2026; largest Fisher Asset Management, LLC
Insider trading1 sale and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest19.2 million shares short, 5.79 days to cover at 30 October 2026

Income statement (profit and loss), 11 fiscal years

Year toJun 2016Jun 2017 †Jun 2018 †Jun 2019 †Jun 2020 †Jun 2021 †Jun 2022Jun 2023Jun 2024Jun 2025Jun 2026
Revenue28,56735,74043,12944,28838,92456,92165,09853,81755,65851,26258,760
Operating profit2,80412,55415,99616,11313,68325,51534,10622,93217,53719,46423,869
Finance costs1,1501,5601,5671,5101,1921,2901,0502,0602,1981,7712,059
Profit before tax1,79111,13714,75115,04912,82524,29233,13721,40116,04818,35322,414
Income tax2,1034,4437,0075,5294,19710,61610,7377,0776,4477,2109,388
Profit for the year-6,2076,2224,8239,1858,73613,45133,05514,3249,60111,14313,026
Profit attributable to shareholders-6,3855,8903,7058,3067,95611,30430,90012,9217,8979,0199,833
Filing20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F
USD million, from each year's annual report on the SEC's EDGAR, linked in the last row, on the IFRS tags the company filed.
Read moreA line the company does not file under the standard tag is left out rather than estimated. A year marked † shows the figure as the company restated it in a later annual report (Jun 2017, Jun 2018, Jun 2019, Jun 2020, Jun 2021); the first-filed figure is in the CSV. Profit for the year includes the part that belongs to minority shareholders; profit attributable to shareholders is the part EPS is struck on. Each year links to its own page.
Year toJun 2016Jun 2017 †Jun 2018 †Jun 2019 †Jun 2020 †Jun 2021 †Jun 2022Jun 2023Jun 2024Jun 2025Jun 2026
Diluted EPS-1.201.100.691.601.572.236.092.551.551.771.93
Basic EPS-1.201.110.701.601.572.236.112.551.561.781.94
Filing20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F

USD per ordinary share, as filed. One US-listed share can stand for more or fewer ordinary shares; the P/E above puts the two on the same basis.

Revenue by segment

Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025Jun 2026Share
of the parts, latest year
Copper10,83810,66615,72616,84916,02718,56622,53029,03149.6%
Iron Ore17,25520,79734,47530,76724,81227,95222,91923,88340.8%
Coal9,1216,2425,15415,54910,9587,6665,0465,5909.6%
Petroleum5,930n/an/an/an/an/an/an/an/a
Not assigned to a part in the filing1,1441,2191,5661,9332,0201,474n/an/an/a
CopperIron OreCoalPetroleum FY2019
43.1Jun 201937.7Jun 202055.4Jun 202163.2Jun 202251.8Jun 202354.2Jun 202450.5Jun 202558.5Jun 2026

USD billion; hover a block for its figure and share; the figure over a bar is its parts, before the lines named below; a part named with years is one the company split its revenue into only then

USD million, from the latest 20-F, in the company's own words. A year is shown only where the parts add up to the revenue above.

Revenue by region

Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025Jun 2026Share
of the parts, latest year
China13,17718,64422,66024,27426,50339,65336,61831,20534,75232,08334,20658.2%
Japan2,9413,0364,6284,1933,3144,3878,4016,9714,5574,1775,8109.9%
India1,4781,8912,4392,4791,4752,1895,2153,4473,3712,6613,6606.2%
Rest of Asia2,6233,1522,6202,9401,7302,9344,3033,5833,7493,3313,6326.2%
South Korea1,9192,2712,5882,5502,6663,4204,7862,9973,0692,6643,2185.5%
Australia1,8462,0372,3042,5681,2121,8711,6491,7022,3932,5452,8554.9%
North America2,3552,2332,7152,4427191,1471,2821,3821,6012,2512,7074.6%
Europe1,1411,6411,8861,8759638862,1291,9611,7021,1212,1833.7%
South America8996491,0546623154267155694644294890.8%
Rest of world18818623530527.08.0n/an/an/an/an/an/a
ChinaJapanIndiaRest of AsiaSouth KoreaAustraliaNorth AmericaOther
28.6Jun 201643.1Jun 201838.9Jun 202065.1Jun 202255.7Jun 202458.8Jun 2026

USD billion; hover a block for its figure and share

USD million, from the latest 20-F, in the company's own words. A year is shown only where the parts add up to the revenue above.

Cash flow statement

Year toJun 2016Jun 2017 †Jun 2018 †Jun 2019 †Jun 2020 †Jun 2021 †Jun 2022Jun 2023Jun 2024Jun 2025Jun 2026
Cash from operations10,62516,80418,46117,87115,70627,23432,17418,70120,66518,69221,778
Purchase of property, plant and equipment5,7073,6974,9796,2505,9915,6125,8556,7338,8169,3989,849
Free cash flow4,91813,10713,48211,6219,71521,62226,31911,96811,8499,29411,929
Cash from investing-7,245-4,161-5,9212,607-7,616-7,845-6,959-13,065-8,762-13,350-12,011
Cash from financing284-9,133-10,891-20,528-9,752-17,922-22,767-10,315-11,669-5,971-3,280
Depreciation and amortisation6,2106,1846,2885,8294,6675,0845,6835,0615,2955,5406,201
Buybacks1061081715,220n/an/an/an/an/an/an/a
Dividends paid4,1302,9215,22011,3956,8767,90117,85113,2687,6756,4036,756
Filing20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F
USD million, from the cash flow statement as filed.
Read morePurchase of property, plant and equipment is the cash line as filed; purchases of intangible assets and acquisitions are not in it. Free cash flow is cash from operations less that purchase, arithmetic on the two filed lines. Cash from investing and from financing are the company's own section totals, below zero where cash went out. Buybacks are the cash paid for the company's own shares.

Balance sheet at year end

Year toJun 2016Jun 2017 †Jun 2018 †Jun 2019 †Jun 2020 †Jun 2021 †Jun 2022Jun 2023Jun 2024Jun 2025Jun 2026
Funded by
Equity attributable to shareholders60,07157,25855,59247,24047,86551,26444,95744,49644,81147,66550,923
Non-controlling interestsn/a5,4685,0784,5844,3104,3413,8094,0344,3094,5535,398
Borrowings, as filedn/a29,57726,00324,11323,60517,08713,85219,32617,60221,54323,625
Lease liabilitiesn/an/an/a7153,4433,8962,5763,0193,1162,9533,496
Other liabilities58,88224,70325,32025,15926,51032,33929,97230,42132,52432,07637,945
Total equity and liabilities118,953117,006111,993101,811105,733108,92795,166101,296102,362108,790121,387
Owned
Property, plant and equipment83,97580,49767,18268,04172,36273,81361,29571,81871,62976,45780,046
Goodwilln/an/an/an/a1,1971,1971,1971,3891,3411,3411,341
Cash and cash equivalents10,31914,15315,87115,61313,42615,24617,23612,42812,50111,89418,532
Trade and other receivablesn/a2,8363,0963,4623,3646,0595,4264,5945,1694,1165,011
Inventoriesn/a3,6733,7643,8404,1014,4264,9355,2205,8285,5386,591
Other assets24,65915,84722,08010,85511,2838,1865,0775,8475,8949,4449,866
Total assets118,953117,006111,993101,811105,733108,92795,166101,296102,362108,790121,387
Filing20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F
USD million, at each fiscal year end.
Read moreBoth totals are the company's own; other liabilities and other assets are each total less the rows shown. Borrowings is the company's own stated total where it files one; it is never added up from its parts here.

Ratios on the filed lines

Year toJun 2016Jun 2017 †Jun 2018 †Jun 2019 †Jun 2020 †Jun 2021 †Jun 2022Jun 2023Jun 2024Jun 2025Jun 2026
Operating margin9.8%35.1%37.1%36.4%35.2%44.8%52.4%42.6%31.5%38.0%40.6%
Net margin-22.4%16.5%8.6%18.8%20.4%19.9%47.5%24.0%14.2%17.6%16.7%
Free cash flow margin17.2%36.7%31.3%26.2%25.0%38.0%40.4%22.2%21.3%18.1%20.3%
Return on year-end equity-10.6%10.3%6.7%17.6%16.6%22.1%68.7%29.0%17.6%18.9%19.3%
Effective tax rate117.4%39.9%47.5%36.7%32.7%43.7%32.4%33.1%40.2%39.3%41.9%
Filing20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F

Arithmetic on the filed lines of the same year: margins over revenue, return on equity as profit attributable to shareholders over year-end equity, tax over profit before tax.

Questions

What was BHP Group's revenue in the year to 30 June 2026?

BHP Group (BHP) reported revenue of USD 58.8 billion for the year to 30 June 2026, up 14.6% on the year before.

How much did BHP Group earn in the year to 30 June 2026?

Profit attributable to shareholders was USD 9.8 billion for the year to 30 June 2026, and diluted earnings per share USD 1.93.

What is BHP Group's P/E ratio?

At the close of 10 November 2026, BHP Group traded at 21.0 times its earnings for the year to 30 June 2026.

What is BHP Group's market cap?

The market cap of BHP Group was $206.1 billion at the close of 10 November 2026.

Peers: Non-Metallic and Industrial Metal Mining

CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
BHP Group Limited BHP *$206.1 billion20.9919.3%40.6%14.6%0.463.3%
Southern Copper Corp. SCCO$143.9 billion22.3047.0%58.6%38.7%0.591.8%
Rio Tinto plc RIO *$137.6 billion13.9016.0%25.9%7.4%0.354.5%
Freeport-McMoRan Inc. FCX$86.5 billion25.3416.4%27.6%1.7%0.451.0%
Vale S.A. VALE *$49.4 billionn/a7.0%15.4%0.9%0.547.2%
Martin Marietta Materials Inc. MLM$37.6 billion13.9913.0%18.2%19.6%0.730.6%
Vulcan Materials Co. VMC$36.8 billion33.9913.1%20.3%1.6%0.560.7%
Cleveland-Cliffs Inc. CLF$7.3 billionn/a-8.3%-1.4%7.8%1.34n/a
MP Materials Corp. MP$6.5 billionn/a-2.0%-20.5%71.6%0.48n/a
USA Rare Earth, Inc. USAR$1.9 billionn/an/an/an/a0.00n/a
Ivanhoe Electric Inc. IE$1.2 billionn/a-9.6%285.9%-13.4%0.07n/a
Niocorp Developments Ltd. NB$438 millionn/an/an/an/a0.00n/a
All 23 in Non-Metallic and Industrial Metal Mining
CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
BHP Group Limited BHP *$206.1 billion20.9919.3%40.6%14.6%0.463.3%
Southern Copper Corp. SCCO$143.9 billion22.3047.0%58.6%38.7%0.591.8%
Rio Tinto plc RIO *$137.6 billion13.9016.0%25.9%7.4%0.354.5%
Freeport-McMoRan Inc. FCX$86.5 billion25.3416.4%27.6%1.7%0.451.0%
Vale S.A. VALE *$49.4 billionn/a7.0%15.4%0.9%0.547.2%
Martin Marietta Materials Inc. MLM$37.6 billion13.9913.0%18.2%19.6%0.730.6%
Vulcan Materials Co. VMC$36.8 billion33.9913.1%20.3%1.6%0.560.7%
Hecla Mining Co. HL$9.6 billion25.5013.6%47.0%29.7%0.000.1%
Cleveland-Cliffs Inc. CLF$7.3 billionn/a-8.3%-1.4%7.8%1.34n/a
MP Materials Corp. MP$6.5 billionn/a-2.0%-20.5%71.6%0.48n/a
Uranium Energy Corp. UEC$3.5 billionn/a-10.0%-357.4%-44.3%0.00n/a
United States Lime & Minerals Inc. USLM$3.4 billion25.4718.2%41.2%4.5%0.000.2%
Knife River Corp. KNF$3.3 billion24.757.7%8.1%10.9%0.89n/a
USA Rare Earth, Inc. USAR$1.9 billionn/an/an/an/a0.00n/a
Energy Fuels Inc. UUUU$1.8 billionn/a-12.2%-81.0%48.9%0.71n/a
Centrus Energy Corp. LEU$1.5 billion32.096.9%-1.3%0.1%1.07n/a
Ivanhoe Electric Inc. IE$1.2 billionn/a-9.6%285.9%-13.4%0.07n/a
Compass Minerals International Inc. CMP$965 million53.437.0%8.9%5.5%2.72n/a
Intrepid Potash, Inc. IPI$441 million18.274.7%2.2%n/a0.00n/a
Niocorp Developments Ltd. NB$438 millionn/an/an/an/a0.00n/a
American Battery Technology Co. ABAT$186 millionn/a-58.1%-343.6%406.8%0.06n/a
Smart Sand, Inc. SND$159 million10.716.5%2.9%21.2%0.063.7%
enCore Energy Corp. EU$123 millionn/a-28.1%-91.2%24.1%0.50n/a
9 companies share its SEC industry code (Metal Mining); the rest are the names nearest in size in its wider industry, Non-Metallic and Industrial Metal Mining, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Annual reports on EDGAR

FormYear toFiled
20-F30 June 202618 August 2026EDGAR
20-F30 June 202522 August 2025EDGAR
20-F30 June 202430 August 2024EDGAR
20-F30 June 20235 September 2023EDGAR
20-F30 June 20226 September 2022EDGAR
20-F30 June 202121 September 2021EDGAR
20-F30 June 202022 September 2020EDGAR
20-F30 June 201917 September 2019EDGAR
20-F30 June 201818 September 2018EDGAR
20-F30 June 201728 September 2017EDGAR
20-F/A30 June 201619 July 2017EDGAR
20-F30 June 201621 September 2016EDGAR