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Rio Tinto USD

Rio Tinto Group explores, mines, and processes mineral resources globally, with operations in iron ore, aluminum, lithium, and copper, including related activities such as refining, smelting, and recycling.

At a glance: strengths & risks
✓Revenue growing (+14% y/y, Q2 2026)✓Profit growing (+46% y/y, Q2 2026)✓Low leverage (0.7x EBITDA)

Sector: Diversified mining

Geography: Australia, Canada, Mongolia

COMM_RIO

Price chart

83.72 USDDay 0.36%

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
83.72 USD · 0.36%
Market cap
137.1 bn USD

Growth

Δ revenue y/y
14.5%
Δ EBITDA y/y
3.8%

Multiples

P/E (LTM)
13.4x
3y avg: 11.1x
P/B (FY)
2.2x
P/E (ann.)
5.1x
EV/EBITDA (LTM)
7.0x
3y avg: 5.9x
EV/EBITDA (ann.)
3.7x

Cash return

Dividend yield
5.6%
FCF yield (LTM)
3.4%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-71.2%
↓ details

Liquidity

Daily turnover (listing)
231.1 mln USD

Shares: yahoo_fundamentals_timeseries/RIO

Financial results

Monetary columns are in B USD, 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.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-06-30Q2 2026 (3M)OK31.0
y/y 14.5%
9.2
y/y 35.2%
—
y/y —
—
y/y —
6.7
y/y 45.9%
——133.5
y/y 10.5%
65.5
y/y 12.5%
41.8%12.5Yahoo Finance
2025-12-31Q4 2025 (3M)PARTIAL30.8
y/y 14.6%
8.2
y/y 10.4%
—
y/y 29.8%
—
y/y 3.8%
5.7
y/y 0.5%
9.9-7.6128.1
y/y 24.6%
62.2
y/y 12.6%
17.0%14.6Yahoo Finance
2025-06-30Q2 2025 (3M)OK27.1
y/y 1.1%
6.8
y/y -18.0%
3.4
y/y 4.1%
10.1
y/y -11.8%
4.6
y/y -21.4%
7.0-4.8120.8
y/y 18.6%
58.2
y/y 5.3%
32.2%14.6Yahoo Finance
2024-12-31Q4 2024 (3M)OK26.9
y/y -1.9%
7.4
y/y 5.9%
—
y/y -19.4%
—
y/y -1.9%
5.7
y/y 13.5%
8.5-5.6102.8
y/y -0.7%
55.2
y/y 1.2%
20.9%5.6Yahoo Finance
2024-06-30Q2 2024 (3M)OK26.8
y/y 0.5%
8.3
y/y 5.3%
3.2
y/y 5.6%
11.5
y/y 5.4%
5.8
y/y 13.5%
7.1-4.0101.9
y/y 4.4%
55.3
y/y 7.0%
42.3%5.0Yahoo Finance
2023-12-31Q4 2023 (3M)OK27.4
y/y —
7.0
y/y —
—
y/y —
—
y/y —
5.0
y/y —
8.2-4.1103.5
y/y —
54.6
y/y —
18.9%3.3Yahoo Finance
2023-06-30Q2 2023 (3M)OK26.7
y/y —
7.8
y/y —
3.1
y/y —
10.9
y/y —
5.1
y/y —
7.0-3.097.6
y/y —
51.6
y/y —
—4.9Yahoo Finance

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)1 228
Long-term debt (incl. LT leases)20 186
− Cash & equivalents8 913
Net debt12 501

Net debt / LTM EBITDA: 0.6x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

010 00020 00030 00040 0002023 q22023 q42024 q22024 q42025 q22025 q42026 q2

Year-over-year change

-20%-10%0%10%20%2023 q22023 q42024 q22024 q42025 q22025 q42026 q2

Cash flow

Operating and investing cash flow (OCF + ICF) ($ mln)

-4 000-2 00002 0004 0006 0002023 q22023 q42024 q22024 q42025 H12025 H22026 q2

Net debt / cash ($ mln)

05 00010 00015 0002023 H12023 FY2024 H12024 FY2025 H12025 FY2026 H1

Profit and cash

Profit is cash-backed
In a typical year of 2021–2025 operating cash flow came to 1.35x of reported net profit; after capex, 0.76x.
year20212022202320242025
cash flow / profit1.20x1.30x1.51x1.35x1.64x
accruals, % of assets-4.1%-3.9%-4.9%-3.9%-5.1%
Last twelve months (to 2026-06-30): 1.37x of profit came back as operating cash flow.
net debt / EBITDA 0.7x · capex 1.5x 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.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

iron ore

Annual production
327.30 Mt
2025

Production, Mt

3282024327.302025

Production

YearProduction, Mt
2025327.30
−0.2%
2024328

SEC 10-K/20-F (CIK 863064), отчёт за 2025-12-31: добыча и запасы основного продукта. Извлечение DeepSeek с двумя проверками — каждое число найдено в тексте самой формы, повторы значений между годами сняты. Обновляется scripts/extract_commodity_ops_deepseek.py.

Key-commodity price — Iron Ore

Current 90spot vs LTM -12%

Commodity-player potential

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

Upside: -71.2% ▼ -0.3 pp 1d

Main driver: Iron Ore -13% vs LTM; revenue ×0.92 vs costs ×1.29; EBITDA 24 357→8 746; at 6.8× EV/EBITDA → -71%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $vs LTM, AUD3y vs LTM
Iron Ore (rev)+65%90.17103.71108.89-13%-16%+5%
Aluminum (rev)+24%3 040.253 045.152 818.28-0%-3%-7%
Electricity Spot (cost)-10%265.4077.9264.17+241%+229%-18%
US Diesel Index (EIA) (cost)-8%6.284.264.23+47%+42%-1%
Copper (rev)+5%14 486.4612 225.5911 314.78+18%+15%-7%
Gold (rev)+2%4 013.994 242.243 401.00-5%-9%-20%
Diamond Index (rev)+1%81.2886.7296.87-6%-9%+12%

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

1 · Reported baseline (LTM)
LTM revenue61 793
LTM EBITDA24 357
LTM cash costs (revenue − EBITDA)37 436
2 · Revenue projection
Revenue multiplier — spot×0.922 (-8%)
= Spot revenue56 971
Revenue multiplier — 3y price×1.010 (+1%)
= 3-year-price revenue62 408
3 · Costs projection
Cost multiplier — spot×1.288 (+29%)
= Spot cash costs48 225
Cost multiplier — 3y price×1.001 (+0%)
= 3-year-price cash costs37 482
4 · EBITDA projection (revenue − costs)
= Spot EBITDA8 746
= 3-year-price EBITDA24 926
Conservative EBITDA = min(spot, avg)8 746
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)6.8x
Target EV = EV/EBITDA × conservative EBITDA59 732
Net debt14 061
Target market cap = EV − net debt39 675
Current market cap137 587

Upside = target market cap ÷ current − 1 = -71.2%

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
2021 H130 41232 565-6.6%14 77018 572-20.5%
2021 H233 08325 255+31.0%20 3119 912+104.9%
2024 H126 80227 039-0.9%11 49210 570+8.7%
2024 H226 85625 277+6.2%9 2288 953+3.1%
2025 H127 10425 692+5.5%10 1378 880+14.2%
2025 H230 53428 321+7.8%11 37610 153+12.0%

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +7% vs -1% the year before — a +8.1 pp move. 3-year CAGR +1%.
revenue growth by year: 2023 -3% · 2024 -1% · 2025 +7%
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 6.5x · target 75th pct (3y) 6.8x · LTM avg 2.5x

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

Peer comparison

Group: Diversified mining. Each peer is shown as it trades and re-priced onto this company's market (global) by the ratio of our coverage medians.

CompanyMarketCap, $bnEV/EBITDAEV/EBITDA, adjusted
African Rainbow MineralsSouth Africa1.72.3x3.5x
BHP Groupglobal198.16.4x6.4x
Valeglobal52.96.7x6.7x
South32Australia13.39.3x9.3x
Anglo AmericanSouth Africa52.29.6x14.8x
Group median6.7x6.7x
Group average6.9x8.1x
This companyglobal136.67.0x7.0x

Group median 6.7x as traded, 6.7x adjusted; this company 7.0x — a 4% premium.

Group average 6.9x as traded, 8.1x adjusted; against the average this company is at a 15% discount.

At the adjusted group median the market cap would be -4% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 20.5x, Russia 3.7x, South Africa 5.0x, Kazakhstan 4.6x, India 17.0x, Indonesia 5.3x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-26; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-08-142.11 USDEx-dividend: 2.11 USD per sharePaidYahoo Finance (ex-div)
2026-03-062.54 USDEx-dividend: 2.54 USD per sharePaidYahoo Finance (ex-div)
2025-08-151.48 USDEx-dividend: 1.48 USD per sharePaidYahoo Finance (ex-div)
2025-03-072.25 USDEx-dividend: 2.25 USD per sharePaidYahoo Finance (ex-div)
2024-08-161.77 USDEx-dividend: 1.77 USD per sharePaidYahoo Finance (ex-div)
2024-03-072.58 USDEx-dividend: 2.58 USD per sharePaidYahoo Finance (ex-div)
2023-08-101.77 USDEx-dividend: 1.77 USD per sharePaidYahoo Finance (ex-div)
2023-03-092.25 USDEx-dividend: 2.25 USD per sharePaidYahoo Finance (ex-div)
2022-08-112.67 USDEx-dividend: 2.67 USD per sharePaidYahoo Finance (ex-div)
2022-03-104.79 USDEx-dividend: 4.79 USD 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 Rio Tinto — from primary filings.

Frequently asked questions

What is Rio Tinto's P/E ratio?
Rio Tinto trades at a P/E of 13.4x (price to trailing 12-month earnings).
What is Rio Tinto's EV/EBITDA?
Rio Tinto trades at 7.0x EV/EBITDA.
What is Rio Tinto's P/B ratio?
Rio Tinto trades at a P/B of 2.2x.
What is Rio Tinto's dividend yield?
Rio Tinto's trailing 12-month dividend yield is 5.6%.
What is Rio Tinto's return on equity (ROE)?
Rio Tinto's ROE is 41.8%.
What is Rio Tinto's market capitalization?
Rio Tinto's market cap is 137.1 bn USD.

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