Overview
FORTESCUE VTEC SERVICES
Fortescue Metals Group is one of the world's lowest-cost iron ore producers. The company is focused on becoming the #1 integrated green energy, metals, and technology company, recognized for its culture, innovation, and industry-leading development of infrastructure, mining assets, and green energy initiatives. As a major supplier of iron ore to the Chinese steel industry, the company is now shipping at an annual rate of over 190 million tonnes (Mt).
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Read More Established in 2003, Fortescue's Metals business comprises its iron ore operations in the Pilbara and a pipeline of exploration projects globally including in Gabon in Africa, Latin America, and Australia. In addition, its Energy business is building a global portfolio of renewable green hydrogen and green ammonia projects and developing green technology solutions.
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Read More Established in 2003, Fortescue's Metals business comprises its iron ore operations in the Pilbara and a pipeline of exploration projects globally including in Gabon in Africa, Latin America, and Australia. In addition, its Energy business is building a global portfolio of renewable green hydrogen and green ammonia projects and developing green technology solutions.
Read Less
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Estimated
$18.22 billion
Actual
7.92%
18.45%
$30,060
JUN
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Australian:FMG
Contacts
Get in Touch with 12 Principals*
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JEAN BADERSCHNEIDERDirector
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Contact 2?
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Contact 3?
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Contact 4?
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Financial Statements
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Financial data as of June 30, 2024 (12 month period) in USD
Annual Revenue 2024
$18.22 billion
USD
Actual
All financial statement data is in millions except per share data | Source: Morningstar
| Cash Flow (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Net Operating Cash | $ | $ | $ |
| Net Investing Cash | -$2,811 | -$3,115 | -$3,070 |
| Net Financing Cash | -$4,465 | -$5,001 | -$5,099 |
| Net Change in Cash | $643 | -$684 | -$1,523 |
| Cash at Beginning of Period | $4,287 | $5,224 | $6,930 |
| Cash at End of Period | $4,903 | $4,287 | $5,224 |
| Capital Expenditure | -$2,834 | -$2,901 | -$2,803 |
| Assets (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Current Assets | |||
| Cash and Cash Equivalents | $4,903 | $4,287 | $5,224 |
| Accounts Receivable | $429 | $331 | $362 |
| Inventories | $1,527 | $1,189 | $1,084 |
| Other Current Assets | $306 | $278 | $229 |
| Asset Summary | |||
| Total Current Assets | $7,165 | $6,085 | $6,899 |
| Tangible Fixed Assets | $21,682 | $20,974 | $20,650 |
| Intangible Assets | $193 | $104 | $58 |
| Total Assets | $30,060 | $28,218 | $28,375 |
| Liabilities (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Current Liabilities | |||
| Accounts Payable | $1,041 | $984 | $952 |
| Short-Term Debt | $60 | $59 | $66 |
| Other Current Liabilities | $1,585 | $1,424 | $1,399 |
| Liability Summary | |||
| Total Current Liabilities | $2,686 | $2,467 | $2,417 |
| Long-Term Debt | $4,525 | $4,528 | $5,282 |
| Other Long-Term Liabilities | $ | $ | $ |
| Total Liabilities | $10,529 | $10,220 | $11,030 |
| Stakeholder's Equity (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Equity | |||
| Common Stock | $1,077 | $1,044 | $1,053 |
| Retained Earnings | $18,300 | $16,775 | $16,175 |
| Equity Summary | |||
| Total Equity | $19,552 | $17,989 | $17,337 |
| Shares Outstanding | 3,078,964,918 | 3,078,964,918 | 3,076,539,632 |