Stock

Rio Tinto

RIO.L

Industrial Materials · Basic Materials

Also trades as: RIO USD 84.14 (-3.20%)

Price

6,229.00 GBp

-31.00 (-0.50%)

Market Cap

£101.31B

Exchange

London Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

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

§How the score breaks down

Quality

Good

19/30

Growth

Good

11/20

Cash Flow

Strong

8/10

Stability

Exceptional

9/10

Valuation

Good

6/10

Ownership

Good

10/15

Dividends

Good

3/5

66 of 100 counted points = Winston Score 66.

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Share count falling — buybacks

−1.8% over 4y

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

Diluted shares outstanding: 1.67B (2021) → 1.64B (2025)

§Winston Score History

The full picture

Rio Tinto is one of the largest mining companies in the world. It digs up and sells raw materials that other industries need to function — mainly iron ore, copper, aluminum, and lithium. Its customers are manufacturers, steel mills, and energy companies, mostly in China and other parts of Asia.

The company makes money by extracting these materials from mines and selling them at market prices, which means its revenue rises and falls with global commodity prices. Rio Tinto operates mines across Australia, Canada, Africa, and the Americas, and its sheer size gives it a cost advantage over smaller rivals. Its biggest growth opportunity is copper and lithium, both critical for electric vehicles and clean energy infrastructure — but its biggest risk is its heavy dependence on China's steel demand, which has been slowing as that economy cools.

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

+14.5% YoY

YoY Growth Rate

Steady revenue growth

Reported EPS Growth

+45.9% YoY

Half-year reporting periods ended:

30 Jun 2025: $2.79

30 Jun 2026: $4.07

Reported/statutory EPS, not adjusted or underlying earnings. One-off items can affect this figure. Provider rounding can affect the growth rate.

YoY Growth Rate

Reported EPS increased year over year

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (3%)

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

Insider Activity

11.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$18.3B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Growth + cash flow

Rio Tinto is a rare growth stock that's already generating positive cash flow while growing at 15%. 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

28.0%

Modest — 28.0% gross margin

Profit after running costs

Operating Margin

28.0%

Excellent — 28.0% operating margin

Return on the money invested

ROCE

19.0%

Strong — 19.0% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

+14.8%

Fast-growing sales (+14.8% YoY)

Profit growth

EPS YoY

+17.4%

Earnings growing fast (+17.4% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

158%

Turns 158% of profit into real cash

Spare cash per sale

FCF Margin

9.3%

Modest free cash flow (9.3%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.35

Conservative — low debt load (0.35)

Covers its interest

Interest Cover

17.82x

Comfortably covers interest (17.8x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

8.4x

Attractive valuation — P/E 8.4

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

-6.8

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

4.92%

Healthy income — 4.92% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

-4.2%

Dividend cut (-4.2% YoY) — warning sign

Payout Ratio

53%

no trend

Pays out a modest share of profit and keeps the rest to reinvest. Room to keep paying through a weak year.

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