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BHP Group Limited

BHP.AX Mining / Diversified Current Rating: SELL

last updated: 2026-04-24

Market Cap

$148B

Revenue (FY25)

$51.3B

P/E Ratio

27.81x

Dividend Yield

3.2%

Research Reports

Equity Research Report: BHP Group Limited

2026-04-24
SELL report-type:equity-research

Company Overview

Company Introduction:

BHP Group Limited is one of the world's largest diversified resources companies, headquartered in Melbourne, Australia. The company operates as a leading global producer of iron ore, copper, nickel, potash, and energy commodities including oil and gas, serving markets across Asia Pacific, Europe, and the Americas. In fiscal year 2025, BHP generated total revenue of US$51.3 billion, with China representing the dominant customer base at US$32.1 billion in sales, reflecting the company's strategic positioning as a primary supplier to the world's largest metals-consuming economy.

Founding and History: BHP traces its origins to August 13, 1885, when it was registered in Victoria as Broken Hill Proprietary Company Limited, named after the silver-lead-zinc deposit discovered in New South Wales in 1883. The company operated the world's richest silver mine at Broken Hill until 1939. BHP pivoted toward steel production beginning in 1900, opening iron mines near Spencer Gulf and establishing the Newcastle Iron and Steel Works in 1915, eventually becoming responsible for virtually all Australian iron and steel production. The company's petroleum exploration commenced in 1954, with active drilling beginning in 1964 through a collaboration with Esso Exploration Australia.

Key Financials

Income Statement (US$M)

MetricFY2025FY2024FY2023FY2022FY2021
Revenue51,26255,65853,81765,09856,921
Profit Before Tax18,35316,04821,40133,13724,292
Net Income11,1439,60114,32433,05513,451
Interest Expense1,4941,6481,127610709
Depreciation & Amortisation5,5405,2955,0615,6835,084

Balance Sheet (US$M)

MetricFY2025FY2024FY2023FY2022FY2021
Net Assets52,21849,12048,53048,76655,605
Property, Plant & Equipment76,45771,62971,81861,29573,813
Cash & Equivalents11,89412,50112,42817,23615,246
Loans & Borrowings21,54317,60219,32613,85217,087
Total Current Assets22,83024,33823,35128,66426,693
Total Current Liabilities15,63914,29619,04316,91916,403

Cash Flow (US$M)

MetricFY2025FY2024FY2023FY2022FY2021
Depreciation5,4295,1884,9675,6234,991

Related Companies

Rio Tinto Limited

HOLD

Fortescue Limited

BUY

Mineral Resources Limited

HOLD

IGO Limited

BUY
Company Ticker Recommendation Price Target P/E Ratio EV/EBITDA Revenue (FY25) Sector
BHP Group Limited BHP.AX SELL $44.45 27.81x N/A $51.3B Mining / Diversified
Rio Tinto Limited RIO.AX HOLD $98.00 28.34x N/A $57.6B Mining / Diversified
Fortescue Limited FMG.AX BUY $15.20 17.12x N/A $15.5B Mining / Iron Ore
Mineral Resources Limited MIN.AX HOLD $52.00 28.65x N/A $4.5B Mining / Iron Ore
IGO Limited IGO.AX BUY $18.50 N/A N/A $0.5B Mining / Nickel

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