Anglo American

NGL0.DE

Industrial Materials · Basic Materials

Price

€46.55

+0.21 (+0.45%)

Market Cap

€49.88B

Exchange

Frankfurt Stock Exchange

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Strong

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Data not available

Dividends

Weak

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Share count falling — buybacks

−9.6% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 1.25B (2021) → 1.13B (2025)

Winston Score History

The full picture

Anglo American is a large mining company based in London that digs up and sells raw materials from the ground. Its main products include diamonds (through the De Beers brand), copper, platinum group metals, and iron ore. These materials are sold to manufacturers, jewelers, and industrial buyers around the world.

The company makes money by mining these resources and selling them at market prices, which means its revenue rises and falls with commodity cycles. Anglo American operates across several continents, including South Africa, Chile, Brazil, and Australia, making it one of the larger diversified miners globally. In recent years the company has been restructuring — selling off assets like its steelmaking coal business and focusing more on copper, which is in high demand for electric vehicles and power grids. The main risk is that commodity prices are unpredictable, and a negative ROIC suggests the business is currently not earning back its cost of capital.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+10.9% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-339.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$39M/ year

↓ Declining (-49% vs prior year)

0.2% of revenue

Below sector average (3%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

11.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$9.7B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Anglo American is a rare growth stock that's already generating positive cash flow while growing at 11%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

69.0%

Premium pricing power — 69.0% gross margin

Profit after running costs

Operating Margin

24.8%

Excellent — 24.8% operating margin

Return on the money invested

ROCE

13.3%

Good — 13.3% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

-10.2%

Shrinking sales (-10.2% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

10.6%

Modest free cash flow (10.6%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

0.94

Moderate — manageable debt (0.94)

Covers its interest

Interest Cover

6.43x

Adequate interest coverage (6.4x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

0.46%

Small dividend — 0.46% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

-73.7%

Dividend cut (-73.7% YoY) — warning sign

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