IGO Ltd (IGO) Fair Value & Analysis
Basic Materials · AU · Market cap A$5.0B (≈ $3.6B) · ISIN AU000000IGO4
What is IGO Ltd really worth?
Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
Below-average quality, and trading another 328% above our fair value of A$1.94.
Strengths
Risks
Fair value as of: Sep 5, 2026
From 9 valuation models · updated today
Fair value updated Sep 5, 2026, revised from A$0.9700 to A$1.94 (+100.0%) since Aug 27, 2026. Share price +19.9% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (A$2.34). The favourable scenario is already priced in.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.
How to read this chart
60‑month range A$3.12 – A$15.12 · fair‑value band A$1.56 – A$2.34 · the A$8.30 price screens above the A$1.94 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 5, 2026.
Analysis
IGO Ltd (IGO) currently trades at A$8.30, while our model-based Fair Value estimate is A$1.94, implying the stock looks roughly 327.9% overvalued today. The Quality Score stands at 49/100 (below-average quality), in the Basic Materials sector. Bull case: the Dividend Discount group reads highest at a median of A$3.93 per share, and 0 of the 9 models we run sit above the A$8.30 price. Bear case: the Multiples group reads lowest at A$1.01, and 9 of the 9 models stay below the price. Evidence for this calculation is low.
Over the trailing twelve months, IGO Ltd generated revenue of A$438M at a net margin of −47.2%. Revenue declined 31.7% year over year. It earns a return on equity of −9.5%. The balance sheet holds a net cash position of A$248M. Fundamentals as of Sep 5, 2026
Our scenario range runs from A$1.56 (bear case) to A$2.34 (bull case); at A$8.30, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 17% below its 52-week high and 122% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −37% fair-value upside, at −77%, IGO screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 9 models by family
Widest divergence: Dividend Discount (A$3.93) versus Multiples (A$1.01). Highest evidence: FCF DCF (76).
Notify me when IGO reaches fair value
Put IGO on your watchlist. We get in touch as soon as price and fair value meet or the trend turns.
Set up alert →Free, no payment details. Unsubscribe anytime in one click.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 52 · Market factors (momentum, volatility) 64
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
IGO Limited, together with its subsidiaries, discovers, develops, and delivers battery minerals in Australia. It operates through Nova Operation, Forrestania Operation, Cosmos Project, Lithium Business, and Growth segments. The company explores for nickel, lithium, copper, cobalt, and silver deposits.
Full company description
IGO Limited, together with its subsidiaries, discovers, develops, and delivers battery minerals in Australia. It operates through Nova Operation, Forrestania Operation, Cosmos Project, Lithium Business, and Growth segments. The company explores for nickel, lithium, copper, cobalt, and silver deposits. It is also involved in exploration, business development, and project evaluation activities, as well as sale of concentrates. The company was formerly known as Independence Group NL and changed its name to IGO Limited in January 2020. IGO Limited was incorporated in 2000 and is headquartered in Perth, Australia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
IGO Ltd reported revenue of A$528M in FY2025 versus A$620M in FY2021, a compound −3.9%/yr. Reported net income was −A$955M in FY2025.
IGO screens 328% overvalued. Compare with BHP Group →
Peer Group
Other Industrial Metals & Mining · 469 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Other Industrial Metals & Mining median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 30/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| BHP Group BHP | A$66.84 | A$42.16 | −37% |
| Vale S.A VALE | $15.31 | $8.95 | −42% |
| Saudi Arabian Mining Company 1211 | 65.50 SAR | 33.87 SAR | −48% |
| CMOC Group 603993 | ¥18.42 | ¥16.15 | −12% |
| Teck Resources Limited TECK | $69.34 | $32.02 | −54% |
| Hindustan Zinc Limited HINDZINC | ₹573.00 | ₹508.34 | −11% |
| China Tungsten And Hightech Materials Co 000657 | ¥66.76 | ¥9.55 | −86% |
| China Northern Rare Earth (Group) High-Tech Co 600111 | ¥41.02 | ¥10.59 | −74% |
| Western Mining Co 601168 | ¥37.85 | ¥25.99 | −31% |
| Boliden AB BOL | kr 527.80 | kr 461.48 | −13% |
Compare IGO Ltd with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Basic Materials stocks →
Try a ready-made strategy
Pick a strategy and jump into the live analysis with that exact screen applied.
Discover tools
Frequently asked questions
Is IGO Ltd (IGO) overvalued or undervalued?
What is the fair value of IGO?
What is the quality score of IGO?
What is the revenue of IGO Ltd (IGO)?
What is the net profit margin of IGO?
Does IGO Ltd pay a dividend?
Watch IGO Ltd in the live analysis
One click puts IGO Ltd on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
Watch for free →Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.