Western Areas (WSA.AX) Stock Price
Western Areas Price
Revenue has compounded at 58.7% per year over the past 17 years to 257.17 M AUD. Earnings per share have grown at 3.7% per year over the last 10 years. Western Areas's net margin stands at -3.0%, down from 9.0% several years earlier. The payout ratio is around 49% of earnings.
Western Areas stock price
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Stock Price
ⓘHow to Read This Chart
This chart tracks the historical stock price of Western Areas over time. You can switch between daily, weekly, and monthly views and select custom time ranges — from a single day to the full available history. Use the toggle to view price changes in absolute currency terms or as a percentage change relative to the starting date.
Total Return vs. Price Return
The "Total Return" toggle includes reinvested dividends on top of the pure price movement. This is critical because dividends can account for a significant portion of long-term returns. Historically, roughly 40 % of the S&P 500's total return has come from dividends. Always compare total return when evaluating a stock's real performance against a benchmark.
Intraday Price Data
When viewing a one-day time frame, the chart displays real-time intraday price movements. This is useful for observing how Western Areas stock reacts to market openings, earnings releases, or breaking news throughout the trading session.
What to Look For
Look for long-term trends (sustained upward or downward movements over months and years), support and resistance levels (price zones where the stock repeatedly bounces or reverses), and volatility (how much the price fluctuates day to day). Comparing Western Areas's price chart to a market index like the S&P 500 can reveal whether the stock is outperforming or underperforming the broader market.
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Western Areas Revenue, EBIT, Net Income
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Western Areas Income Statement, Balance Sheet, Cash Flow Statement
| REVENUEM AUD |
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| REVENUE GROWTH% |
| GROSS MARGIN% |
| GROSS INCOMEM AUD |
| EBITM AUD |
| EBIT MARGIN% |
| NET INCOMEM AUD |
| NET INCOME GROWTH% |
| DIVIDENDDIV.AUD |
| SHARESM |
| 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022e | 2023e | 2024e | 2025e | 2026e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 473.00 | 339.00 | 308.00 | 320.00 | 312.00 | 209.00 | 213.00 | 248.00 | 268.00 | 308.00 | 257.00 | 388.00 | 332.00 | 400.00 | 407.00 | 419.00 |
| 173.41 | -28.33 | -9.14 | 3.90 | -2.50 | -33.01 | 1.91 | 16.43 | 8.06 | 14.93 | -16.56 | 50.97 | -14.43 | 20.48 | 1.75 | 2.95 |
| 52.85 | 30.68 | 15.58 | 26.88 | 24.36 | -2.39 | 31.46 | 40.73 | 33.21 | 44.16 | 36.96 | 36.96 | 36.96 | 36.96 | 36.96 | 36.96 |
| 250.00 | 104.00 | 48.00 | 86.00 | 76.00 | -5.00 | 67.00 | 101.00 | 89.00 | 136.00 | 95.00 | 143.42 | 122.72 | 147.86 | 150.45 | 154.88 |
| 237.00 | 90.00 | 36.00 | 69.00 | 57.00 | -24.00 | -18.00 | 16.00 | 11.00 | 41.00 | -7.00 | 91.00 | 83.00 | 119.00 | 137.00 | 160.00 |
| 50.11 | 26.55 | 11.69 | 21.56 | 18.27 | -11.48 | -8.45 | 6.45 | 4.10 | 13.31 | -2.72 | 23.45 | 25.00 | 29.75 | 33.66 | 38.19 |
| 135.00 | 40.00 | -94.00 | 26.00 | 35.00 | -27.00 | 19.00 | 11.00 | 14.00 | 31.00 | -7.00 | 64.00 | 64.00 | 73.00 | 77.00 | 82.00 |
| 864.29 | -70.37 | -335.00 | -127.66 | 34.62 | -177.14 | -170.37 | -42.11 | 27.27 | 121.43 | -122.58 | -1,014.29 | – | 14.06 | 5.48 | 6.49 |
| – | – | – | – | – | – | 0.03 | – | – | – | – | – | – | – | – | – |
| 179.70 | 179.70 | 196.80 | 210.10 | 234.85 | 241.94 | 275.33 | 277.11 | 277.33 | 277.58 | 288.08 | 288.08 | 288.08 | 288.08 | 288.08 | 288.08 |
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Income Statement Key Figures
ⓘRevenue and Revenue Growth
Revenue is the starting point of every income statement — it measures the total sales Western Areas generates from its core business. Revenue growth (expressed as year-over-year percentage change) is one of the most important indicators of business momentum. Sustained growth above 10 % annually is generally considered strong, while declining revenue is a serious warning sign that demands investigation.
Gross Margin
Gross margin = (Revenue − Cost of Goods Sold) ÷ Revenue. It reveals what percentage of each dollar of revenue Western Areas retains after direct production costs. High gross margins (above 50 %) are typical of asset-light businesses like software and brands, while capital-intensive industries like manufacturing often operate below 30 %. Compare Western Areas's gross margin to industry peers and track it over time to spot improving or deteriorating pricing power.
EBIT and EBIT Margin
EBIT measures operating profit — what remains after subtracting all operating expenses (including R&D, sales, and administrative costs) from gross profit. The EBIT margin shows this as a percentage of revenue. Because it excludes interest and taxes, EBIT allows fair comparisons between companies with different debt levels and tax jurisdictions. A rising EBIT margin indicates improving operational efficiency.
Net Income and Earnings Per Share (EPS)
Net income is the company's final profit after all expenses, interest, and taxes. Dividing net income by the number of shares outstanding gives you EPS — the single most influential metric in stock valuation. Consistent EPS growth is the primary driver of long-term stock price appreciation. Always check whether EPS growth comes from genuine profit improvement or from share buybacks reducing the share count.
Shares Outstanding
The total number of shares Western Areas has issued. A declining share count (through buybacks) boosts EPS and signals management confidence. A rising share count (through stock issuance) dilutes existing shareholders. Always monitor this number alongside EPS to get the full picture of per-share value creation.
Analyst Estimates
The projected figures represent consensus estimates from professional analysts. Compare these forecasts against Western Areas's historical growth rates to assess whether expectations are realistic. A company that consistently beats consensus estimates tends to see its stock price rewarded over time, while repeated misses erode investor confidence.
Western Areas stock margins
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Western Areas Stock Revenue, EBIT, Earnings per Share
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Western Areas business model & stock analysis
Western Areas SWOT Analysis
Strengths
Western Areas Ltd possesses a robust and well-established brand reputation in the mining industry, backed by a track record of successful operations and efficient production processes.
The company benefits from a strong financial position, allowing for consistent investments in exploration and development activities.
Western Areas Ltd has a highly skilled and experienced workforce that contributes to its operational excellence and ongoing innovation within the sector.
Weaknesses
The company heavily relies on the price of nickel, a major commodity it mines, making it vulnerable to market fluctuations and price volatility.
Western Areas Ltd operates primarily in a single geographical region, which exposes it to potential risks associated with political instability or adverse regulatory changes in that area.
There may be limitations in terms of diversification opportunities for the company due to the nature of its operations and the availability of suitable mining assets.
Opportunities
The growing demand for electric vehicles and renewable energy sources presents a significant opportunity for Western Areas Ltd as nickel plays a key role in the production of batteries.
Expanding its operations or acquiring new mining assets could provide the company with potential growth opportunities and enhance its market position.
The exploration of untapped mineral-rich regions and the development of new mining technologies offer possibilities for Western Areas Ltd to discover and extract additional resources.
Threats
Increased competition within the mining industry, particularly from emerging market players, poses a threat to Western Areas Ltd's market share and profitability.
Environmental and sustainability concerns surrounding mining practices may result in stricter regulations or reputational damage, affecting the company's operations.
Fluctuating exchange rates and economic instability in key markets could impact the company's revenue and financial performance.
Western Areas Eulerpool Fair Value
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Fair Value Estimate
ⓘWhat Is Fair Value?
Fair value is an estimate of what a stock is truly "worth" based on its financial fundamentals, independent of the current market price. If the calculated fair value is above the current share price, the stock may be undervalued — and vice versa. This chart shows three different fair value approaches so you can cross-check them against each other.
Earnings-Based Fair Value
Calculated by multiplying the current earnings per share (EPS) by the average historical P/E ratio over a selected multi-year period. The smoothing over several years filters out temporary spikes or dips. If this fair value exceeds the market price, it suggests the stock is cheap relative to its earning power.
Example: Fair Value (Earnings) 2022 = EPS 2022 × Average P/E 2019–2021
Revenue-Based Fair Value
Derived by multiplying revenue per share by the average historical price-to-sales ratio. This method is particularly useful for companies with volatile or temporarily depressed earnings, as revenue tends to be more stable than profits. It answers: "At what price has the market historically valued each dollar of this company's sales?"
Example: Fair Value (Revenue) 2022 = Revenue per Share 2022 × Average P/S 2019–2021
Dividend-Based Fair Value
Calculated by dividing the dividend per share by the average historical dividend yield. This approach is most relevant for mature, consistently dividend-paying companies. If the resulting fair value is higher than the current price, it implies the stock offers a better yield than its historical average.
Example: Fair Value (Dividend) 2022 = Dividend per Share 2022 ÷ Average Yield 2019–2021
How to Use This Chart
When all three fair value lines converge above the current price, it strengthens the case that the stock is undervalued. When they diverge, investigate why — it may indicate a structural shift in margins, payout policy, or growth rate. The forward estimates on the right extend the analysis using projected fundamentals, helping you assess whether the current price already reflects future growth expectations.
Western Areas historical P/E ratio, EBIT multiple, and P/S ratio
Western Areas annual returns
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Annual Return
ⓘWhat This Chart Shows
This chart breaks down 's total annual return into two components: price return (gains or losses from stock price movement) and dividend return (income received from dividend payments). Together, they represent the total return an investor would have earned in each calendar year.
Price Return
Price return measures the percentage change in 's stock price from January 1st to December 31st of each year. Positive bars indicate the stock appreciated; negative bars show a decline. This is the component most investors focus on, but it tells only part of the story — especially for dividend-paying stocks.
Dividend Return
Dividend return represents the income generated from dividends paid during the year, expressed as a percentage of the starting stock price. While it may seem small in any single year (typically 1–4 % for established companies), dividends compound significantly over decades and have historically contributed roughly 40 % of total stock market returns.
What to Look For
Examine how many years showed positive vs. negative returns to gauge consistency. A stock with mostly positive years and small drawdowns suggests lower risk. Also compare 's annual returns to a benchmark index — consistently outperforming the market is a hallmark of a strong investment. Pay attention to the worst years: understanding downside risk is just as important as chasing upside potential.
Western Areas shares outstanding
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Western Areas Dividend History
12 years of dividend payments
Western Areas dividend payout ratio
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Western Areas Earnings Estimates & Surprises
| Date | EPS estimate | EPS Actual | Revenue Estimate | Price reaction | Quarterly report |
|---|---|---|---|---|---|
| 2/19/2023 | 0.09AUD | - | 170.79 MAUD | - | 2023 Q2 |
| 8/21/2022 | 0.10AUD | - | 197.47 MAUD | - | 2022 Q4 |
| 8/24/2021 | 0.04AUD | - | 160.06 MAUD | - | 2021 Q4 |
| 2/23/2021 | -0.04AUD | - | 125.89 MAUD | - | 2021 Q2 |
| 8/25/2020 | 0.05AUD | - | 156.22 MAUD | - | 2020 Q4 |
| 2/18/2020 | 0.08AUD | - | 160.38 MAUD | - | 2020 Q2 |
| 8/20/2019 | 0.04AUD | - | 145.15 MAUD | - | 2019 Q4 |
| 2/20/2018 | 0.01AUD | - | 111.74 MAUD | - | 2018 Q2 |
| 8/22/2017 | -0.02AUD | - | 102.49 MAUD | - | 2017 Q4 |
| 2/19/2015 | 0.14AUD | - | 203.39 MAUD | - | 2015 Q2 |
Western Areas shareholder structure
| % | Name |
|---|---|
9.65876% | |
9.01412% | |
6.87603% | |
3.91772% | |
2.99564% | |
2.55119% |
Western Areas Executives and Management Board
8 members · avg. age 56 · 25 % women
Mr. Daniel Lougher (56)
Chief Executive Officer, Managing Director, Executive Director · since 2006
1.82 M AUD
Management
Mr. Joseph Belladonna
Chief Financial Officer, Company Secretary
Mr. Wyn Jones
General Manager - Operations
Board of Directors
Mr. Ian Macliver
Independent Non-Executive Chairman of the Board
Mr. Timothy Netscher
Independent Non-Executive Director
Dr. Natalia Streltsova
Independent Non-Executive Director
Mr. Richard Yeates
Independent Non-Executive Director
Ms. Yasmin Broughton
Independent Non-Executive Director
Frequently asked questions about Western Areas
The main competitors of Western Areas Ltd in the market are BHP Group Ltd, Independence Group NL, and Panoramic Resources Limited.
Western Areas Ltd is a mining company primarily engaged in nickel production. Its business model centers on exploring, developing, and operating nickel mines in Australia. As one of the leading nickel producers in the country, Western Areas is committed to sustainable mining practices while maximizing the efficiency of its operations. With a focus on high-grade nickel deposits, the company aims to meet the growing demand for this essential metal in various industries. By employing advanced mining techniques and maintaining strong relationships with stakeholders, Western Areas Ltd ensures a sustainable business model that contributes to long-term growth and profitability.
Western Areas Ltd is primarily active in the mining industry, specifically in the exploration and production of nickel. As a leading Australian nickel producer, Western Areas Ltd focuses on developing and operating high-quality nickel mines. With its strong expertise and extensive mining assets, the company is committed to maintaining a sustainable and profitable nickel mining business.
Western Areas Ltd is an Australian mining company with a rich history and background. Established in 1999, Western Areas specializes in nickel production and exploration. The company has successfully operated multiple high-grade nickel mines, such as the Forrestania Nickel Project in Western Australia. With a strong focus on sustainable mining practices, Western Areas is committed to minimizing its environmental impact while delivering consistent value to its shareholders. Known for its expertise and high-quality nickel assets, Western Areas Ltd continues to play a significant role in Australia's mining industry.
Western Areas Ltd has achieved several significant milestones. One of the notable achievements includes the successful development and operation of high-grade nickel mines. The company has also achieved a strong production record, consistently meeting or exceeding production targets. Western Areas Ltd has made significant advancements in exploration activities, discovering and delineating new nickel deposits. Furthermore, the company has successfully implemented cost-saving initiatives, resulting in improved operational efficiency and profitability. Western Areas Ltd has also demonstrated commitment to sustainable mining practices and has been recognized for its environmental stewardship. Overall, Western Areas Ltd has established itself as a leading player in the nickel mining industry, carving a path of growth and success.
Western Areas Ltd is primarily present in Australia, specifically in the regions of Western Australia. Its headquarters is located in Applecross, Western Australia. The company focuses on exploration, development, and production of high-grade nickel sulphide deposits. With its operations based in Australia, Western Areas Ltd has established itself as a significant player in the Australian mining industry, contributing to the country's economy and portfolio of mineral resources.
Western Areas Ltd is a reputable company that upholds strong values and a sound corporate philosophy. They prioritize integrity, transparency, and long-term sustainability in their business operations. Western Areas Ltd believes in delivering exceptional value to its shareholders by focusing on efficient resource management and maintaining a strong financial position. The company constantly strives to maintain a positive work environment, fostering teamwork, and promoting diversity and inclusion among its employees. Western Areas Ltd also places great emphasis on community engagement, actively contributing to the development and well-being of the communities in which they operate.
14 analysts currently rate the Western Areas stock: 0 recommend buying, 9 holding and 5 selling.
The Western Areas share (WSA.AX) is listed on 2 stock exchanges, including: SIX (Zürich) (FX9.SW), ASX (WSA.AX).
The business model of Western Areas Ltd is based on the exploration, development, and production of high-quality nickel-sulfide deposits in Australia. The company was founded in 2000 and is headquartered in West Perth, Australia. Western Areas focuses on continuously identifying and developing new nickel-sulfide deposits, which are then mined using advanced technologies to produce high-quality nickel concentrate. The company currently operates several mines in Western Australia, including the Flying Fox, Spotted Quoll, and Cosmic Boy mines. Its main products are nickel concentrate and copper concentrate, which are primarily sold for export to Asia and Europe. Western Areas aims to continuously improve the production and quality of its products to enhance its competitiveness in the market. In addition to its mining activities, the company also offers various services such as exploration, engineering, and process design. Western Areas strives to provide customized solutions to meet the needs and requirements of its customers. Sustainability is another key aspect of Western Areas' business model, with a focus on environmental responsibility and making positive impacts on the communities and environments in which it operates. The company also contributes to the development of local communities and promotes education and scientific research. In summary, Western Areas' business model is based on the exploration, development, and production of high-quality nickel-sulfide deposits. By utilizing advanced technologies and processes, the company aims to produce and sell high-quality nickel concentrate and copper concentrate to customers in Asia and Europe. Western Areas places a strong emphasis on sustainability, environmental responsibility, and the development of local communities to ensure long-term success and growth.
The revenue cannot currently be calculated for Western Areas.
The profit cannot currently be calculated for Western Areas.
The P/E ratio cannot be calculated for Western Areas at the moment.
The P/S cannot be calculated for Western Areas currently.
The Eulerpool Quality Score for Western Areas is 0/10.
The ISIN of Western Areas is AU000000WSA9. The ISIN (International Securities Identification Number) is a globally unique identifier for securities.
The WKN of Western Areas is 552583. The WKN (Wertpapierkennnummer) is a six-digit German security identification number.
The ticker of Western Areas is WSA.AX. The ticker symbol is used to trade Western Areas shares on the stock exchange.
The current dividend yield of Western Areas is - %.
Western Areas is assigned to the 'Commodities' sector.
The dividends of Western Areas are distributed in AUD.
Western Areas stock
Western Areas Peer Group
Western Areas Ticker
Western Areas FIGI
All fundamentals and in-depth analysis of Western Areas
Our stock analysis for Western Areas stock includes important financial indicators such as revenue, profit, P/E ratio, P/S ratio, EBIT, as well as information on dividends. We also assess aspects such as stocks, market capitalization, debt, equity, and liabilities of Western Areas. If you are looking for more detailed information on these topics, we offer comprehensive analyses on our subpages.