The Mineral Resources Ltd (ASX: MIN) share price is in focus today after the company reported its strongest-ever financial result, with record revenue of $6.5 billion and underlying NPAT up 831% to $822 million.
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What did Mineral Resources report?
- Revenue: $6.5 billion, up 44% on FY25
- Underlying EBITDA: $2.6 billion, up 183%
- Underlying NPAT: $822 million, up 831% year on year
- Reported NPAT: $1.2 billion, up 236%
- Free cash flow: $849 million, up 141%
- Fully franked final dividend: $0.83 per share, reinstated after nil in FY25
What else do investors need to know?
The record performance was driven by growth in the Mining Services division, the ramp-up of Onslow Iron to nameplate capacity, and improved results in lithium operations—helped by higher prices and volumes in the second half. The company's net debt fell by $1.1 billion to $4.3 billion, with liquidity doubling to $2.4 billion.
Mineral Resources expects the proposed transaction with POSCO, once completed, to reduce net debt further and provide additional funds for growth initiatives. The company is guiding Mining Services volumes to increase by 9% to 14% in FY27, with growth supported by the Onslow Iron project and ramp-ups at other key assets.
What did Mineral Resources management say?
Chris Ellison, Managing Director, said:
The past 12 months stand among the most significant in MinRes' history. Record operational and financial results reflect years of strategic investment, positioning the company to enter its third listed decade with a stronger foundation than at any point in our 20-year journey on the ASX.
What's next for Mineral Resources?
Looking to FY27, Mineral Resources expects growth across every operating division, particularly in Mining Services, which is underpinned by long-term contracts and recurring revenue. The company will focus on delivering new brownfield investments and further ramping up iron ore, lithium, and energy projects.
Completion of the POSCO deal is anticipated to unlock further balance sheet strength and disciplined growth. Governance improvements and leadership succession strategies are now embedded, with the company emphasising a disciplined approach to capital allocation for its next growth phase.
Mineral Resources share price snapshot
The Mineral Resources share price has been on fire over the past 12 months, outperforming the S&P/ASX 200 index (ASX: XJO) with a gain of almost 80%.
