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New Hope (NHC) AUD

At a glance: strengths & risks
Margins improving (38%→43%)Net cash balance sheetCommodity price +25% vs 1-yr · +20% vs 3-yrPriced above model valuePricier than own history (EV/EBITDA 9.8 vs avg 4.2)

Sector: Coal mining

AU_NHC

Price chart

5.76 AUDDay 1.77%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
5.76 AUD · 1.77%
Market cap
4.9 bn AUD

Growth

Δ revenue y/y
-20.1%
Δ EBITDA y/y
-53.5%

Multiples

P/E (LTM)
31.7x
3y avg: 6.9x
P/B (FY)
1.8x
P/E (ann.)
44.7x
EV/EBITDA (LTM)
9.8x
3y avg: 4.2x
EV/EBITDA (ann.)
10.7x

Cash return

Dividend yield
4.3%
FCF yield (LTM)
2.6%

Value creation

to target market cap (spot commodity model)
Upside (potential)

Liquidity

Daily turnover (listing)
11.6 mln AUD

Shares: yahoo_fundamentals_timeseries/NHC.AX

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial results

Monetary columns are in M AUD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM AUDOperating profitM AUDD&AM AUDEBITDAM AUDNet profitM AUDOperating CFM AUDCapex + M&AM AUDAssetsM AUDEquityM AUDROE (annualized)Net debtM AUDSource
2026-01-31H1 2026 (6M)OK814.4
y/y -20.1%
109.2
y/y -76.1%
115.6
y/y 336.6%
224.8
y/y -53.5%
54.3
y/y -84.0%
185.0-96.33494.3
y/y -1.2%
2599.9
y/y -2.1%
4.2%-51.4Link
2025-07-31H2 2025 (6M)OK731.3
y/y -19.5%
-87.4
y/y -162.8%
353.1
y/y 287.7%
265.7
y/y 15.3%
99.1
y/y -55.8%
253.9-176.63538.8
y/y 2.0%
2627.7
y/y 3.3%
16.6%-52.3
2025-01-31H1 2025 (6M)OK1019.4
y/y 19.0%
456.6
y/y 24.0%
26.5
y/y -65.6%
483.1
y/y 8.5%
340.3
y/y 35.2%
316.9-134.63537.0
y/y 15.8%
2656.0
y/y 6.2%
26.2%-151.5Link
2024-07-31H2 2024 (6M)OK908.8
y/y -18.8%
139.3
y/y -64.9%
91.1
y/y 24.2%
230.4
y/y -51.0%
224.2
y/y -46.5%
431.4-123.43468.6
y/y 6.9%
2543.2
y/y 0.9%
18.9%-368.7
2024-01-31H1 2024 (6M)OK856.6
y/y -45.9%
368.4
y/y -62.9%
77.0
y/y 12.8%
445.4
y/y -58.0%
251.7
y/y -62.4%
130.6-148.93053.5
y/y -9.3%
2501.7
y/y 0.2%
20.0%≈ -718.7Link
2023-07-31H2 2023 (6M)OK1118.8
y/y
396.8
y/y
73.3
y/y
470.1
y/y
418.8
y/y
541.3-119.93243.3
y/y
2521.4
y/y
43.3%-718.7
2023-01-31H1 2023 (6M)OK1581.9
y/y
992.8
y/y
68.3
y/y
1061.1
y/y
668.6
y/y
983.5-67.13365.1
y/y
2496.0
y/y
-902.7Link

Revenue & EBITDA

RevenueEBITDA

Quarterly values (AUD mln)

01 0002 0003 0002023 FY2024 FY2025 FY

Year-over-year change

-60%-40%-20%0%20%2023 FY2024 FY2025 FY

Cash flow

FCF (AUD mln)

05001 0001 5002023 FY2024 FY2025 FY

Net debt / cash (AUD mln)

-800-600-400-20002023 FY2024 FY2025 FY

Profit and cash

Profit is cash-backed
In a typical year of 2022–2025 operating cash flow came to 1.24x of reported net profit; after capex, 0.84x.
year2022202320242025
cash flow / profit1.16x1.40x1.18x1.30x
accruals, % of assets-4.5%-13.5%-2.5%-3.7%
Last twelve months (to 2026-01-31): 0.80x of profit came back as operating cash flow.
net debt / EBITDA -0.1x · capex 1.0x of depreciation
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Key-commodity price — Steam coal AU

Current 135spot vs LTM +14%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -62.3%

Main driver: Steam coal AU +25% vs LTM; revenue ×1.14 vs costs ×1.04; EBITDA 491→628; at 2.8× EV/EBITDA → -62%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $vs LTM, AUD3y vs LTM
Steam coal AU (rev)+90%135.18107.84129.87+25%+15%+20%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue1 546
LTM EBITDA491
LTM cash costs (revenue − EBITDA)1 055
2 · Revenue projection
Revenue multiplier — spot×1.136 (+14%)
= Spot revenue1 756
Revenue multiplier — 3y price×1.096 (+10%)
= 3-year-price revenue1 694
3 · Costs projection
Cost multiplier — spot×1.040 (+4%)
= Spot cash costs1 097
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs1 097
4 · EBITDA projection (revenue − costs)
= Spot EBITDA659
= 3-year-price EBITDA596
Conservative EBITDA = min(spot, avg)628
5 · Valuation → target market cap
Historical EV/EBITDA (75th pct)2.8x
Target EV = EV/EBITDA × conservative EBITDA1 731
Net debt-51
Target market cap = EV − net debt1 782
Current market cap4 728

Upside = target market cap ÷ current − 1 = -62.3%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 FY2 7012 689+0.5%1 6961 673+1.4%
2024 FY1 7651 506+17.2%676462+46.3%
2025 FY1 7511 572+11.4%749439+70.7%

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth -1% vs -35% the year before — a +33.8 pp move. 3-year CAGR -12%.
revenue growth by year: 2023 +6% · 2024 -35% · 2025 -1%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 6.9x · target 75th pct (3y) 6.7x · LTM avg 5.6x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-03-300.1 AUDEx-dividend: 0.1 AUD per sharePaidYahoo Finance (ex-div)
2025-09-220.15 AUDEx-dividend: 0.15 AUD per sharePaidYahoo Finance (ex-div)
2025-03-230.19 AUDEx-dividend: 0.19 AUD per sharePaidYahoo Finance (ex-div)
2024-10-030.22 AUDEx-dividend: 0.22 AUD per sharePaidYahoo Finance (ex-div)
2024-04-150.17 AUDEx-dividend: 0.17 AUD per sharePaidYahoo Finance (ex-div)
2023-10-220.3 AUDEx-dividend: 0.3 AUD per sharePaidYahoo Finance (ex-div)
2023-04-170.4 AUDEx-dividend: 0.4 AUD per sharePaidYahoo Finance (ex-div)
2022-10-230.56 AUDEx-dividend: 0.56 AUD per sharePaidYahoo Finance (ex-div)
2022-04-140.3 AUDEx-dividend: 0.3 AUD per sharePaidYahoo Finance (ex-div)
2021-10-240.07 AUDEx-dividend: 0.07 AUD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of New Hope (NHC) — from primary filings.

New Hope Corporation Limited operates coal mines in Queensland and New South Wales, Australia, and is involved in port handling, logistics, and oil and gas development.

Frequently asked questions

What is New Hope (NHC)'s P/E ratio?
New Hope (NHC) trades at a P/E of 31.7x (price to trailing 12-month earnings).
What is New Hope (NHC)'s EV/EBITDA?
New Hope (NHC) trades at 9.8x EV/EBITDA.
What is New Hope (NHC)'s P/B ratio?
New Hope (NHC) trades at a P/B of 1.8x.
What is New Hope (NHC)'s dividend yield?
New Hope (NHC)'s trailing 12-month dividend yield is 4.3%.
What is New Hope (NHC)'s return on equity (ROE)?
New Hope (NHC)'s ROE is 4.2%.
What is New Hope (NHC)'s market capitalization?
New Hope (NHC)'s market cap is 4.9 bn AUD.

See also: Australian Stocks (2026): Iron Ore, Lithium, Gold and LNG on the ASX by Valuation · The Cheapest Coal Stocks (2026): Out of Favour, Cash-Rich, High-Yield · The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map