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Iron ore miner operating the Bloom Lake mine in Quebec, Canada, producing high-grade iron ore concentrate, dual-listed in Australia and Canada.
Iron ore miner operating the Bloom Lake mine in Quebec, Canada, producing high-grade iron ore concentrate, dual-listed in Australia and Canada.
Sells concentrate to steel mills at the benchmark iron ore index price plus a premium for higher iron content, so the benchmark and that premium decide the cash it earns. Restarted the idle Bloom Lake mine in 2018 and added a second plant that roughly doubled capacity. Dual-listed in Toronto and Sydney.
In one line: A high-grade iron ore producer like a smaller Cleveland-Cliffs.
Moat: narrow (installed base). High-grade (66%+ Fe) concentrate commands a quality premium versus benchmark ore, but remains a commodity business.
Headquarters: Montreal, Canada · Founded: 2011
Size Champion Iron (CIA.AX) is an Australia Materials company (Steel) with a market value of $799M, the 208th largest of 316 Australia companies the cockpit tracks. Shares closed at A$2.06 on 6 Nov 2026.
Performance Over six months the shares fell 59.9%, against -20.4% for the median peer and +4.1% for the Australia market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue fell 7.2% over the last twelve months (peer median +3.6%); the operating margin is 7.2% (peer median 5.2%).
Valuation It trades at 11.5× forward earnings against a peer median of 15.5× (4th cheapest of 14).
Price implies For today's price to make sense, revenue must grow about 10% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is +3 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 3.3 points below its cost of capital (6.4% WACC).
Credit Champion Iron has 1 bond outstanding ($500M), rated B+ by the agencies and trading like B- at a weighted spread of 748 bp.
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | A$1.72B | A$1.94B | A$1.77B | A$1.72B | A$1.54B |
| Revenue growth | — | +9% | +3% | +11% | — |
| Gross profit | A$223M | A$444M | A$437M | A$574M | A$491M |
| EBITDA | A$326M | A$486M | A$517M | A$623M | A$546M |
| Net income | A$4.09M | A$185M | A$157M | A$264M | A$222M |
| Free cash flow | A$11.8M | A$44.4M | -A$300M | A$165M | -A$51.9M |
| Capital expenditure | A$384M | A$453M | A$668M | A$387M | A$326M |
| Total debt | A$1.47B | A$1.13B | A$892M | A$698M | A$620M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Champion Iron CIA.AX | $799M | -60% | -7% | 7% | 11.5× | 10.4% |
| Fortescue FMG.AX | $32.4B | -33% | +4% | 32% | 12.3× | -5.7% |
| Vale S.A. Sponsored ADR VALE | $45.4B | -30% | +11% | 25% | 7.7× | -14.0% |
| Rio Tinto RIO.L | $144B | -21% | +11% | 27% | 10.3× | 5.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CIA.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -28.5% | -11.1% | 3rd lowest of 21 |
| 6-month return | -59.9% | -20.4% | 2nd lowest of 21 |
| Distance from 52-week high | -69.2% | -33.0% | 2nd lowest of 21 |
| Revenue growth (TTM) | -7.2% | +3.6% | 6th lowest of 21 |
| Operating margin | 7.2% | 5.2% | 8th highest of 21 |
| Forward P/E | 11.5× | 15.5× | 4th cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | 10.4% | 7.7% | 4th most demanding of 11 |
| Growth delivered (Del g) | +7.4% | +11.3% | 4th lowest of 11 |
| Hurdle (Req g minus delivered) | +3.0 pp | -7.0 pp | 3rd most demanding of 11 |
| ROIC minus cost of capital | -3.3 pp | -4.0 pp | 10th highest of 21 |
| EV / EBITDA | 7.4× | 8.0× | 5th cheapest of 9 |
| Net debt / EBITDA | 3.8× | 0.7× | 2nd most indebted of 10 |
| Bond spread | 748 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Champion Iron CIA.AX | Australia | $799M | -60% | -7% | 7% | 11.5× | 10.4% | +7.4% |
| Yieh Phui Enterprise 2023.TW | Taiwan | $804M | +5% | -9% | 0% | 25.2× | n/a | n/a |
| Maharashtra Seamless MAHSEAMLES.NS | India | $809M | -12% | -12% | 13% | 15.5× | 8.1% | +15.2% |
| Silvery Dragon Group Co., Ltd Tianjin 603969.SS | China | $790M | -33% | -1% | 15% | 9.5× | -3.5% | +4.7% |
| Anyang Iron and Steel 600569.SS | China | $810M | -10% | +1% | -10% | n/a | n/a | n/a |
| Hangxiao Steel Structure 600477.SS | China | $810M | -24% | -24% | 3% | 28.6× | 11.6% | -2.5% |
| SunCoke Energy SXC | United States | $832M | +34% | +3% | 4% | 23.1× | 7.2% | +6.6% |
| Jiangsu Changbao Steel Tube 002478.SZ | China | $847M | -40% | +2% | 6% | 17.5× | -4.8% | +8.4% |
| Guangdong Zhongnan Iron & Steel 000717.SZ | China | $734M | -19% | -12% | -5% | n/a | n/a | n/a |
| Sunflag Iron & Steel SUNFLAG.NS | India | $730M | -7% | +9% | 9% | n/a | 23.4% | +15.7% |
| Xinjiang Baodi Mining 601121.SS | China | $887M | -23% | +23% | 23% | n/a | n/a | n/a |
| BRC Asia BEC.SI | Singapore | $894M | -9% | +23% | 8% | 10.5× | -14.8% | +20.5% |
| SBHC 001430.KS | South Korea | $712M | -64% | +11% | 3% | 14.2× | n/a | n/a |
| RongFa Nuclear Equipment 002366.SZ | China | $898M | -29% | -15% | -18% | n/a | n/a | n/a |
| Jiangsu Longda Superalloy 688231.SS | China | $919M | -34% | +54% | 6% | 35.0× | n/a | n/a |
| Jayaswal Neco Industries JAYNECOIND.NS | India | $920M | -22% | +18% | 15% | n/a | 8.4% | +14.0% |
| Metallus MTUS | United States | $687M | -10% | +11% | 1% | 15.3× | n/a | n/a |
| Zhejiang Jingu 002488.SZ | China | $939M | -45% | +11% | 5% | 40.0× | n/a | n/a |
| Kirloskar Ferrous Industries KIRLFER.NS | India | $674M | -15% | +7% | 8% | 9.1× | 14.2% | +27.6% |
| Aichi Steel 5482.T | Japan | $970M | -17% | +4% | 5% | 14.2× | 1.6% | +8.5% |
| Xining Special Steel 600117.SS | China | $976M | -23% | 0% | -21% | n/a | n/a | n/a |
Champion Iron has 1 bond outstanding with $500M face value. The agencies rate it B+; its bonds trade like B-. Weighted yield 12.16%, a spread of 748 bp over government bonds.