Commodity prices generally fell in the September-ending quarter, except for gold. Concerns about weak China end-user steel demand affected iron ore and other steelmaking commodities, while base metals prices fell on worries over slower economic growth in China and elsewhere.
Fortescue provides strong leverage to the Chinese economy. If growth in steel consumption remains strong, it's also likely iron ore prices and volumes will, too.
We think that ultimately Chinese fixed-asset investment will slow, and future iron ore volume growth and prices are likely to be much less favorable.
|
Metric
|
FMG
|
RIO
|
VALE
|
|---|---|---|---|
Price/Earnings (Normalized) | 6.96 | 11.70 | 5.86 |
Price/Book Value | 2.12 | 2.50 | 1.36 |
Price/Sales | 2.24 | 2.52 | 1.20 |
Price/Cash Flow | 5.15 | 8.30 | 3.80 |
|
Metric
|
FMG
|
RIO
|
VALE
|
|---|---|---|---|
Quick Ratio | 2.07 | 1.16 | 0.69 |
Current Ratio | 2.67 | 1.70 | 1.08 |
Interest Coverage | 21.94 | 10.17 | 8.45 |
|
Metric
|
FMG
|
RIO
|
VALE
|
|---|---|---|---|
Return on Assets (Normalized) | 19.34% | 11.49% | 11.40% |
Return on Equity (Normalized) | 29.96% | 21.57% | 27.08% |
Return on Invested Capital (Normalized) | 23.84% | 18.28% | 20.80% |
|
1-Day Chart
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Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
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United States