Last 24 quarters of trend data · Basic Materials · Industrial Materials
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
BHP Group Limited's quarterly P/E stands at 6.8x, down 85.7% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 53.8% YoY to 2.9x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q2 '26 | Q4 '25 | Q2 '25 | Q4 '24 | Q2 '24 | Q4 '23 | Q2 '23 | Q4 '22 | Q2 '22 | Q4 '21 | Q2 '21 | Q4 '20 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 23.19 | 6.80 | 6.61 | 7.02 | 5.21 | 47.44 | 5.87 | 6.11 | 3.03 | 4.03 | 5.52 | 9.10 | 9.09 |
| — | -85.7% | +12.5% | +14.9% | +72.1% | +1077.6% | +6.3% | -32.9% | -66.7% | -36.6% | -23.3% | +28.6% | +46.7% | |
| P/S Ratio | 4.09 | 1.37 | 1.17 | 1.23 | 1.27 | 1.59 | 1.36 | 1.51 | 1.03 | 1.11 | 1.24 | 1.53 | 1.35 |
| — | -13.7% | -13.8% | -18.6% | +23.8% | +43.9% | +9.3% | -0.8% | -23.9% | -19.6% | -11.4% | +11.5% | +3.4% | |
| P/B Ratio | 4.02 | 2.77 | 2.34 | 2.50 | 2.95 | 3.80 | 3.12 | 3.38 | 2.92 | 2.49 | 2.96 | 2.76 | 2.15 |
| — | -27.2% | -25.0% | -26.0% | +1.0% | +53.1% | +5.4% | +22.3% | +35.8% | +5.3% | +16.8% | +33.6% | +9.7% | |
| P/FCF | 22.59 | 8.91 | 5.10 | 9.37 | 4.99 | 10.47 | 4.80 | 10.51 | 2.27 | 3.28 | 2.75 | 5.73 | 6.36 |
| — | -14.9% | +6.2% | -10.9% | +119.8% | +219.2% | +75.0% | +83.6% | -64.2% | -61.3% | -45.4% | -15.7% | +66.9% | |
| EV / EBITDA | 9.15 | 2.88 | 2.69 | 2.86 | 2.60 | 6.24 | 2.85 | 3.06 | 1.68 | 2.02 | 2.43 | 3.28 | 3.68 |
| — | -53.8% | -5.3% | -6.4% | +55.1% | +208.8% | +17.1% | -6.7% | -54.5% | -32.7% | -18.8% | +7.7% | +35.2% | |
| EV / EBIT | 11.42 | 3.58 | 3.43 | 3.83 | 3.20 | 4.49 | 3.67 | 4.06 | 1.96 | 2.40 | 2.38 | 3.63 | 5.98 |
| — | -20.2% | -6.7% | -5.5% | +62.8% | +87.3% | +54.2% | +11.9% | -67.1% | -38.2% | -40.2% | -15.4% | +61.6% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
BHP Group Limited's operating margin was 42.8% in Q2 2026, up 3.2 pp QoQ and up 25.2 pp YoY. This marks the 3rd consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 40.9% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 8.0% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q2 '26 | Q4 '25 | Q2 '25 | Q4 '24 | Q2 '24 | Q4 '23 | Q2 '23 | Q4 '22 | Q2 '22 | Q4 '21 | Q2 '21 | Q4 '20 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 82.2% | 42.8% | 126.1% | 36.7% | 122.9% | 39.7% | 115.9% | 40.9% | 118.3% | 49.2% | 115.4% | 46.9% | 128.3% |
| — | +8.0% | +8.9% | -10.2% | +3.8% | -19.3% | +0.4% | -12.8% | -7.8% | +23.0% | -7.3% | +32.2% | +3.5% | |
| Operating Margin | 38.0% | 42.8% | 39.6% | 36.2% | 44.8% | 17.6% | 43.5% | 41.7% | 55.7% | 48.1% | 47.2% | 40.9% | 29.4% |
| — | +142.9% | -8.8% | -13.1% | -19.6% | -63.4% | -8.0% | +2.0% | +89.4% | +30.1% | +25.8% | +16.6% | -24.3% | |
| Net Margin | 17.6% | 20.2% | 17.6% | 17.5% | 24.5% | 3.4% | 23.2% | 24.8% | 62.1% | 30.6% | 22.5% | 16.0% | 14.9% |
| — | +493.8% | -24.0% | -29.4% | -60.5% | -88.9% | +3.4% | +55.0% | +317.3% | +41.3% | +15.6% | -11.0% | +100.1% |
| Metric | TTM | Q2 '26 | Q4 '25 | Q2 '25 | Q4 '24 | Q2 '24 | Q4 '23 | Q2 '23 | Q4 '22 | Q2 '22 | Q4 '21 | Q2 '21 | Q4 '20 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.8% | 10.5% | 9.0% | 8.9% | 14.7% | 2.0% | 13.6% | 13.5% | 41.4% | 17.1% | 13.6% | 7.3% | 5.9% |
| — | +432.7% | -33.5% | -34.0% | -64.4% | -88.5% | -0.2% | +84.7% | +601.4% | +83.0% | +60.7% | +13.0% | +114.4% | |
| ROA | 8.5% | 5.0% | 4.4% | 4.3% | 6.9% | 0.9% | 6.8% | 7.1% | 21.4% | 8.8% | 7.0% | 3.7% | 3.0% |
| — | +445.7% | -35.7% | -38.4% | -67.8% | -89.5% | -2.4% | +89.4% | +616.2% | +83.6% | +56.7% | +6.1% | +98.2% | |
| ROIC | 24.0% | 13.0% | 12.4% | 11.7% | 16.7% | 6.2% | 16.5% | 16.3% | 26.4% | 18.1% | 18.3% | 11.2% | 7.0% |
| — | +109.3% | -24.8% | -28.4% | -36.8% | -65.8% | -9.8% | +46.0% | +276.8% | +83.1% | +75.3% | +39.0% | -21.1% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
BHP Group Limited's Debt/EBITDA ratio is 2.1x, up from 2.0x last quarter — at a moderate level that warrants monitoring. The current ratio has improved 5.1% YoY to 1.65x, strengthening the short-term liquidity position. Debt/Equity has risen for 3 consecutive quarters, indicating increasing financial leverage that investors should watch closely.
| Metric | TTM | Q2 '26 | Q4 '25 | Q2 '25 | Q4 '24 | Q2 '24 | Q4 '23 | Q2 '23 | Q4 '22 | Q2 '22 | Q4 '21 | Q2 '21 | Q4 '20 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.47 | 0.57 | 0.47 | 0.41 | 0.41 | 0.49 | 0.46 | 0.32 | 0.34 | 0.35 | 0.38 | 0.43 | 0.52 |
| — | +15.7% | +1.9% | +28.9% | +21.9% | +42.4% | +22.0% | -25.7% | -34.9% | -32.5% | -21.2% | -7.6% | +17.2% | |
| Debt / EBITDA | 1.01 | 2.12 | 1.96 | 1.72 | 1.37 | 3.01 | 1.58 | 1.11 | 0.78 | 1.07 | 1.20 | 1.85 | 3.16 |
| — | -29.8% | +24.2% | +55.0% | +76.7% | +181.5% | +31.7% | -40.1% | -75.4% | -54.7% | -43.3% | -25.8% | +40.7% | |
| Current Ratio | 1.46 | 1.65 | 1.46 | 1.70 | 1.70 | 1.57 | 1.23 | 1.69 | 1.69 | 1.92 | 1.63 | 1.42 | 1.45 |
| — | +5.1% | +19.0% | +0.3% | +0.5% | -18.5% | -24.6% | +18.8% | +17.0% | +19.0% | -14.1% | -44.1% | -42.3% | |
| Quick Ratio | 1.11 | 1.28 | 1.11 | 1.25 | 1.29 | 1.22 | 0.95 | 1.28 | 1.40 | 1.71 | 1.36 | 1.09 | 1.17 |
| — | +5.0% | +16.1% | -2.5% | -7.7% | -28.6% | -29.9% | +17.7% | +19.7% | +28.2% | -14.2% | -49.9% | -47.7% | |
| Interest Coverage | 21.26 | 28.26 | 22.92 | 19.58 | 25.23 | 7.65 | 28.03 | 24.90 | 71.86 | 60.84 | 63.65 | 36.49 | 15.14 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 24 years · Updated daily
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BHP Group Limited's current P/E is 23.2x. The average P/E over the last 4 quarters is 6.4x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
BHP Group Limited's current operating margin is 38.0%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking BHP Group Limited's business trajectory between earnings reports.