BHP Group Limited (BHP) Financial Ratios
30 years of historical data (1996–2025) · Basic Materials · Industrial Materials
EV/EBITDA
↓
8.80
↑+59% vs avg
5yr avg: 5.54
30Y Low3.6·High95.9
P/FCF
↑
21.69
↑+110% vs avg
5yr avg: 10.32
30Y Low5.5·High37.4
P/B Ratio
↓
3.86
↑+35% vs avg
5yr avg: 2.86
30Y Low1.1·High5.1
ROE
↓
17.8%
↑-37% vs avg
5yr avg: 28.1%
30Y Low-22%·High59%
Debt/EBITDA
↑
1.01
↑+31% vs avg
5yr avg: 0.77
30Y Low0.4·High22.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
BHP Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
BHP Group Limited trades at 22.3x earnings, 72% above its 5-year average of 13.0x, sitting at the 89th percentile of its historical range. This is roughly in line with the Basic Materials sector median P/E of 22.3x. On a free-cash-flow basis, the stock trades at 21.7x P/FCF, 110% above the 5-year average of 10.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $201.2B | $122.2B | $144.9B | $151.4B | $142.4B | $164.6B | $112.4B | $134.6B | $119.0B | $84.7B | $67.8B |
| Enterprise Value | $213.8B | $134.8B | $152.7B | $161.3B | $141.6B | $170.3B | $126.0B | $143.8B | $129.9B | $101.0B | $93.9B |
| P/E Ratio → | 22.26 | 13.51 | 18.30 | 11.70 | 7.04 | 14.24 | 14.31 | 15.61 | 17.98 | 13.34 | — |
| P/S Ratio | 3.92 | 2.38 | 2.60 | 2.81 | 2.19 | 2.87 | 2.87 | 3.02 | 2.76 | 2.36 | 2.34 |
| P/B Ratio | 3.86 | 2.34 | 2.95 | 3.12 | 2.92 | 2.96 | 2.15 | 2.60 | 1.96 | 1.35 | 1.13 |
| P/FCF | 21.69 | 13.17 | 12.23 | 13.03 | 5.47 | 7.68 | 13.94 | 12.52 | 8.83 | 6.75 | 18.42 |
| P/OCF | 10.78 | 6.55 | 7.01 | 8.09 | 4.43 | 6.04 | 7.16 | 7.53 | 6.45 | 5.04 | 6.38 |
P/E links to full P/E history page with 30-year chart
BHP EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
BHP Group Limited's enterprise value stands at 8.8x EBITDA, 59% above its 5-year average of 5.5x. The Basic Materials sector median is 11.0x, placing the stock at a 20% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.63 | 2.74 | 3.00 | 2.18 | 2.97 | 3.22 | 3.23 | 3.01 | 2.81 | 3.24 |
| EV / EBITDA | 8.80 | 5.55 | 6.91 | 5.87 | 3.65 | 5.71 | 6.87 | 6.55 | 5.81 | 5.45 | 10.41 |
| EV / EBIT | 10.98 | 7.24 | 6.86 | 7.66 | 4.35 | 5.88 | 9.42 | 8.79 | 8.35 | 8.13 | 19.63 |
| EV / FCF | — | 14.53 | 12.89 | 13.88 | 5.43 | 7.95 | 15.62 | 13.38 | 9.64 | 8.05 | 25.52 |
BHP Profitability
Margins and return-on-capital ratios measuring operating efficiency
BHP Group Limited earns an operating margin of 38.0%, significantly above the Basic Materials sector average of 9.2%. Operating margins have compressed from 42.6% to 38.0% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 17.8% indicates solid capital efficiency. ROIC of 24.0% represents excellent returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 82.2% | 82.2% | 82.2% | 79.7% | 85.7% | 86.5% | 81.1% | 82.8% | 84.8% | 82.6% | 76.7% |
| Operating Margin | 38.0% | 38.0% | 31.5% | 42.6% | 52.4% | 44.6% | 34.9% | 36.2% | 37.1% | 34.9% | 9.7% |
| Net Profit Margin | 17.6% | 17.6% | 14.2% | 24.0% | 47.5% | 19.7% | 20.3% | 18.6% | 8.6% | 16.4% | -22.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.8% | 17.8% | 16.2% | 26.6% | 59.2% | 21.0% | 15.3% | 14.8% | 6.0% | 9.6% | -9.8% |
| ROA | 8.5% | 8.5% | 7.8% | 13.2% | 30.3% | 10.5% | 7.7% | 7.8% | 3.2% | 5.0% | -5.2% |
| ROIC | 24.0% | 24.0% | 22.8% | 32.3% | 46.8% | 30.1% | 16.2% | 18.2% | 15.9% | 11.4% | 2.3% |
| ROCE | 21.5% | 21.5% | 20.6% | 28.6% | 39.9% | 27.8% | 15.3% | 17.3% | 15.7% | 11.8% | 2.6% |
BHP Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
BHP Group Limited carries a Debt/EBITDA ratio of 1.0x, which is manageable (60% below the sector average of 2.5x). Net debt stands at $12.6B ($24.5B total debt minus $11.9B cash). Interest coverage of 21.3x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.47 | 0.47 | 0.41 | 0.46 | 0.34 | 0.38 | 0.52 | 0.48 | 0.44 | 0.49 | 0.61 |
| Debt / EBITDA | 1.01 | 1.01 | 0.91 | 0.81 | 0.42 | 0.70 | 1.47 | 1.13 | 1.20 | 1.64 | 4.04 |
| Net Debt / Equity | — | 0.24 | 0.16 | 0.20 | -0.02 | 0.10 | 0.26 | 0.18 | 0.18 | 0.26 | 0.43 |
| Net Debt / EBITDA | 0.52 | 0.52 | 0.35 | 0.36 | -0.02 | 0.19 | 0.74 | 0.42 | 0.49 | 0.88 | 2.90 |
| Debt / FCF | — | 1.36 | 0.66 | 0.85 | -0.03 | 0.27 | 1.69 | 0.86 | 0.81 | 1.30 | 7.09 |
| Interest Coverage | 21.26 | 21.26 | 15.42 | 26.48 | 66.71 | 49.07 | 15.30 | 14.46 | 14.45 | 11.94 | 3.29 |
BHP Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.46x means BHP Group Limited can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 1.11x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 1.23x to 1.46x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.46 | 1.46 | 1.70 | 1.23 | 1.69 | 1.63 | 1.45 | 1.89 | 2.51 | 1.85 | 1.44 |
| Quick Ratio | 1.11 | 1.11 | 1.29 | 0.95 | 1.40 | 1.36 | 1.17 | 1.58 | 2.24 | 1.53 | 1.16 |
| Cash Ratio | 0.78 | 0.78 | 0.88 | 0.65 | 1.04 | 0.93 | 0.91 | 1.27 | 1.15 | 1.25 | 0.85 |
| Asset Turnover | — | 0.47 | 0.54 | 0.53 | 0.68 | 0.53 | 0.37 | 0.44 | 0.39 | 0.31 | 0.24 |
| Inventory Turnover | 1.65 | 1.65 | 1.70 | 2.10 | 1.89 | 1.75 | 1.80 | 2.00 | 1.74 | 1.70 | 1.98 |
| Days Sales Outstanding | — | 33.19 | 35.96 | 31.16 | 30.42 | 38.63 | 31.36 | 28.35 | 26.20 | 30.78 | 46.84 |
BHP Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
BHP Group Limited returns 3.2% to shareholders annually primarily through dividends. The payout ratio of 70.9% is elevated — while still covered by earnings, there is limited headroom for dividend increases. The earnings yield of 4.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.2% | 5.2% | 5.3% | 8.8% | 12.5% | 4.8% | 6.1% | 8.5% | 4.4% | 3.4% | 6.1% |
| Payout Ratio | 70.9% | 70.9% | 97.2% | 102.7% | 57.8% | 69.9% | 86.4% | 137.2% | 140.9% | 49.6% | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.5% | 7.4% | 5.5% | 8.5% | 14.2% | 7.0% | 7.0% | 6.4% | 5.6% | 7.5% | — |
| FCF Yield | 4.6% | 7.6% | 8.2% | 7.7% | 18.3% | 13.0% | 7.2% | 8.0% | 11.3% | 14.8% | 5.4% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.1% | 0.1% | 0.1% | 0.1% | 3.9% | 0.1% | 0.1% | 0.2% |
| Total Shareholder Yield | 3.2% | 5.2% | 5.3% | 8.8% | 12.6% | 4.9% | 6.2% | 12.3% | 4.5% | 3.6% | 6.3% |
| Shares Outstanding | — | $2.5B | $2.5B | $2.5B | $2.5B | $2.5B | $2.5B | $2.6B | $2.7B | $2.7B | $2.7B |
Peer Comparison
Compare BHP with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 BHPYou | $201B | 22.3 | 8.8 | 21.7 | 82.2% | 38.0% | 17.8% | 24.0% | 1.0 |
 RIO | $201B | 14.2 | 10.0 | 33.6 | 56.4% | 29.2% | 20.2% | 18.6% | 0.7 |
 VALE | $70B | 27.5 | 5.8 | 22.7 | 34.4% | 29.0% | 7.2% | 17.7% | 1.4 |
 FCX | $83B | 38.0 | 10.7 | 74.3 | 27.0% | 24.4% | 7.4% | 12.8% | 1.3 |
 SCCO | $141B | 32.6 | 18.3 | 41.2 | 56.7% | 52.2% | 42.6% | 38.6% | 0.9 |
 CLF | $6B | -3.5 | — | — | -4.6% | -7.5% | -22.4% | -7.5% | — |
 AA | $16B | 14.2 | 9.2 | 28.8 | 13.6% | 7.6% | 20.2% | 12.7% | 0.0 |
 NEM | $121B | 17.0 | 8.7 | 16.5 | 49.8% | 46.9% | 22.1% | 24.9% | 0.0 |
 AEM | $89B | 20.1 | 10.9 | 20.9 | 58.1% | 53.1% | 19.6% | 21.9% | 0.0 |
 CAT | $421B | 48.0 | 33.7 | 41.0 | 32.3% | 16.6% | 43.5% | 15.9% | 3.2 |
 CMI | $93B | 32.9 | 19.4 | 39.1 | 25.3% | 11.9% | 23.0% | 16.7% | 1.6 |
| Basic Materials Median | — | 22.3 | 11.0 | 25.6 | 31.3% | 9.2% | 0.0% | 4.5% | 2.5 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Full BHP Stock Analysis
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View ValuationCompare BHP vs RIO
Side-by-side business, growth, and profitability comparison vs Rio Tinto Group.
Start ComparisonBHP — Frequently Asked Questions
Quick answers to the most common questions about buying BHP stock.
What is BHP Group Limited's P/E ratio?
BHP Group Limited's current P/E ratio is 22.3x. The historical average is 13.3x. This places it at the 89th percentile of its historical range.
What is BHP Group Limited's EV/EBITDA?
BHP Group Limited's current EV/EBITDA is 8.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.0x.
What is BHP Group Limited's ROE?
BHP Group Limited's return on equity (ROE) is 17.8%. The historical average is 17.8%.
Is BHP stock overvalued?
Based on historical data, BHP Group Limited is trading at a P/E of 22.3x. This is at the 89th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is BHP Group Limited's dividend yield?
BHP Group Limited's current dividend yield is 3.17% with a payout ratio of 70.9%.
What are BHP Group Limited's profit margins?
BHP Group Limited has 82.2% gross margin and 38.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does BHP Group Limited have?
BHP Group Limited's Debt/EBITDA ratio is 1.0x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.