Pilbara Minerals Ltd (PLS) Fair Value & Analysis
Basic Materials · AU · Market cap A$17.1B (≈ $12.3B) · ISIN AU000000PLS0
What is Pilbara Minerals Ltd really worth?
A solid business, but trading 84% above our fair value of A$2.77.
Strengths
Risks
Fair value as of: Aug 30, 2026
From 24 valuation models · updated 6 days ago
Share price +17.6% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- A high-quality business (quality 73/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case (A$4.13). The favourable scenario is already priced in.
- A fairly wide model range (A$2.08 to A$4.13) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.
How to read this chart
60‑month range A$1.14 – A$6.74 · fair‑value band A$2.08 – A$4.13 · the A$5.09 price screens above the A$2.77 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 30, 2026.
Analysis
Pilbara Minerals Ltd (PLS) currently trades at A$5.09, while our model-based Fair Value estimate is A$2.77, implying the stock looks roughly 83.8% overvalued today. The Quality Score stands at 73/100 (solid quality), in the Basic Materials sector. Bull case: the Growth Earnings group reads highest at a median of A$7.02 per share, and 12 of the 24 models we run sit above the A$5.09 price. Bear case: the Asset-Based group reads lowest at A$0.8500, and 12 of the 24 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Pilbara Minerals Ltd generated revenue of A$967M at a net margin of −9.7%. Revenue grew 46.6% year over year. It earns a return on equity of −2.8%. The balance sheet holds a net cash position of A$1.1B. Fundamentals as of Aug 30, 2026
Our scenario range runs from A$2.08 (bear case) to A$4.13 (bull case); at A$5.09, 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 25% below its 52-week high and 331% 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 −46%, PLS 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 24 models by family
Widest divergence: Growth Earnings (A$7.02) versus Asset-Based (A$0.8500). Highest evidence: EPV (74).
Notify me when PLS reaches fair value
Put PLS 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 Aug 30, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 74 · Market factors (momentum, volatility) 62
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
PLS Group Limited engages in the exploration, development, and operation of mineral resources in Australia. The company primarily explores for lithium. Its flagship projects is the 100% owned Pilgangoora project located in the Pilbara region of Western Australia.
Full company description
PLS Group Limited engages in the exploration, development, and operation of mineral resources in Australia. The company primarily explores for lithium. Its flagship projects is the 100% owned Pilgangoora project located in the Pilbara region of Western Australia. The company was formerly known as Pilbara Minerals Limited and changed its name to PLS Group Limited in November 2025. The company was incorporated in 2005 and is based in West Perth, Australia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Pilbara Minerals Ltd reported revenue of A$1.9B in FY2026 versus A$1.2B in FY2022, a compound +13.0%/yr. Reported net income was A$526M in FY2026, compounding −1.6%/yr from FY2022.
PLS screens 84% overvalued. Compare with BHP Group →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Lithium Ionic Completes US$37.5 Million Sale of its Salinas Group of Lithium Properties to PLS
- PLS Group Ltd (PILBF) (FY 2026) Earnings Call Highlights: Record Production and Revenue Surge ...
- Lithium Ionic to sell Salinas lithium assets to PLS Brasil Mineração
- Lithium Ionic Announces Agreement to Sell its Salinas Group of Lithium Properties to PLS for US$37.5 Million in Cash, Retaining a 2.0% Royal
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.
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 Aug 30, 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 Pilbara Minerals 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 Pilbara Minerals Ltd (PLS) overvalued or undervalued?
What is the fair value of PLS?
What is the quality score of PLS?
What is the revenue of Pilbara Minerals Ltd (PLS)?
What is the net profit margin of PLS?
Watch Pilbara Minerals Ltd in the live analysis
One click puts Pilbara Minerals 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.