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IGO Limited (ASX: IGO) - Financials

Current share price for IGO : $7.240 0.44 (5.73%)

IGO Limited (IGO) is a mineral exploration company focusing on discovering, developing, and delivering products critical to clean energy. Through its upstream mining and downstream processing assets, IGO is enabling future-facing technologies including the electrification of transport, energy storage and renewable energy generation. IGO owns and operates the Nova nickel-copper-cobalt operation in WA and is invested in a lithium focused joint venture with Tianqi Lithium Corporation, which holds a 51% stake in the Greenbushes Lithium Mine and 100% interest in a downstream processing refinery at Kwinana producing battery grade lithium hydroxide.

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IGO Per Share

Year to Jun Sales Cashflow Earnings Dividends Franking Book Value Average
Annual P/E		 Relative P/E Shareholder Return
2023 $1.38 187.3 ¢ 86 ¢ 58 ¢ 100% $5.01 16 105.7% 55.2%
2022 $1.11 47 ¢ 52.9 ¢ 10 ¢ 100% $4.54 20.4 123.2% 32.2%
2021 $0.91 65.5 ¢ 17.8 ¢ 10 ¢ 100% $4.23 33 279.7% 60.2%

IGO Capital Structure

Total Debt Interest Long Term Debt Percent Debt Preferred Stock Share Equity Percent Equity
$432,100 $44,000 $224,600 6% $0.00 $3,790,200 94%
Note: All dollars in thousands ('000) for the table above

IGO Historical Financials

2023 2022 2021
Revenue ($M) 1,049.9 845.2 619.9
Operating Margin (%) 105.4 84.5 58.1
Depreciation ($M) -79.6 -11.9 -10.5
Amortisation ($M) -208 -164 -165
Net Profit Before Abs ($M) 653.2 402 121.3
Net Profit After Abs ($M) 549.1 330.9 548.7
Income Tax Rate (%) 19.3 28.6 25.4
Net Profit Margin (%) 62.2 47.6 19.6
Employees ($T)
Long Term Debt ($M) 224.6 750.8 20.6
Shareholders Equity ($M) 3,790.2 3,435.2 3,199.9
Return on Capital (%) 17 10 4
Return on Equity (%) 17.2 11.7 3.8
Payout Ratio (%) 67 19 56

IGO Cashflow

2023 2022 2021
Customer Receipts ($M) 1,150 934 919
Net Operating Cashflow ($M) 1,423.1 357.1 446.1
Net Investing Cashflow ($M) -294 -1,281 -1,065
Net Financing Cashflow ($M) -727 762 633

IGO Market & Earnings

2023 2022 2021
Market Cap ($M) 11,510 7,527 5,778
Net Gearing (%) -9 16.9 -15.7
Net Interest Cover (%) 23.54 141.68 7.84
Dividend Yield (%) 4.9 1
NTA Per Share ($) 5.01 4.54 4.23
EBITDA ($M) 1,106.3 714.1 360.3
EBIT ($M) 819.2 538.4 184.7
EBT Before Abs ($M) 784.4 534.6 161.1

IGO Balance Sheet

2023 2022 2021
Cash ($M) 775.2 367.1 528.5
Debtors ($M) 73.1 95.1 78.5
Other Debtors ($M) 9.4 18.1 0.86
Prepayments ($M) 7.2 6.6 3
Inventories ($M) 136.2 82.5 34
Current Investments ($M) 63.6 175.8 113.7
Other Current Assets ($M) 74.3
Total Current Assets ($M) 1,139 745.2 758.6
Receivables ($M)
Inventories ($M)
Property, Plant & Equipment ($M) 1,868 2,594 1,532
Accumulated Depreciation ($M) -1,250.5 -839.6 -668.8
Intangibles ex. Goodwill ($M)
Goodwill ($M)
Future Income Tax Benefit ($M) 69.5 26.6 30.7
Non-Current Investments ($M) 2,447 2,076 1,856
Other Non-Current Assets ($M) 464.8 243 100.5
Total Non-Current Assets ($M) 3,599 4,100 2,850
Total Assets ($M) 4,738 4,845 3,609
Accounts Payable ($M) 160.8 149.2 47.3
Provisions ($M) 41.7 94.2 180.7
Short Term Debt ($M) 207.5 196.6 4.42
Other Current Liabilities ($M)
Total Current Liabilities ($M) 410 440 232.4
Creditors ($M)
Long Term Debt ($M) 224.6 750.8 20.6
Provisions ($M) 313.1 219.2 155.8
Other Non-Current Liabilities ($M)
Total Non-Current Liabilities ($M) 537.7 970 176.5
Total Liabilities ($M) 947.7 1,410 408.9
Share Capital ($M) 2,632 2,642 2,649
Reserves ex. Share Premium ($M) 563.8 747.6 505.5
Share Premium Reserve ($M)
Retained Profits ($M) 594.9 45.8 45.8
Other Shareholders Equity ($M)
Convertible Equity ($M)
Outside Equity Interest ($M)
Total Shareholders Equity ($M) 3,790 3,435 3,200

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