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BHP Group Limited (BHP) Financials

BHP
FY2025 annual
Revenue $51.3B -7.9% YoY
Net Income $11.1B +16.1% YoY
Free Cash Flow $9.3B -21.6% YoY
Operating Cash Flow $18.7B -9.5% YoY
Market Cap $208.1B as of Oct 21, 2026
Price / Sales 4.1x on $51.3B revenue, FY2025
Price / Earnings 18.7x on $11.1B net income, FY2025
Price / Book 4.0x on $52.2B equity, Q4 FY2025

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 21, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Jun 30, 2025 Reported Currency USD FYE June

Newest figures come from the 20-F for FY2025, filed Aug 22, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BHP SEC filings page.

BHP Group Limited (BHP) reported $51.3B in revenue for fiscal year 2025, down 7.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI BHP FY2025

BHP remains profitable and cash-generative, but rising reinvestment is shrinking the cash left after operations and capital spending.

The cash-conversion pattern weakened: free-cash-flow margin fell from 40.4% in FY2022 to 18.1% in FY2025, so more of the operating cash engine is being consumed before it reaches discretionary cash. That is consistent with capital expenditures reaching $9.4B in FY2025, up from $5.9B in FY2022, making reinvestment—not merely weaker accounting profit—the clearest explanation for the smaller cash surplus.

BHP's balance-sheet posture remains conservative by debt: long-term debt was $2.3B against $52.2B of equity in FY2025. Yet the current ratio eased to 1.5x from 1.7x in FY2024, indicating less short-term cushion even as overall leverage remains modest.

Reported profit and operating cash flow still agree directionally: FY2025 net income was $11.1B while operating cash flow was $18.7B, showing that accounting profit is not the whole cash story. After capital spending, free cash flow was only $9.3B, leaving a smaller post-investment pool for FY2025's $6.4B of dividends than in FY2022.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity CashFlow Returns 39 / 100
Financial Health Score 39/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of BHP Group Limited's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
0

Not available for BHP Group Limited, and counted as zero in the overall score.

Growth
22

BHP Group Limited's revenue declined 7.9% year-over-year, from $55.7B to $51.3B. This contraction results in a growth score of 22/100.

Leverage
84

BHP Group Limited carries a low D/E ratio of 0.04, meaning only $0.04 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 84/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
40

BHP Group Limited's current ratio of 1.46 indicates adequate short-term liquidity, earning a score of 40/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
86

BHP Group Limited converts 18.1% of revenue into free cash flow ($9.3B). This strong cash generation earns a score of 86/100.

Returns
0

Not available for BHP Group Limited, and counted as zero in the overall score.

Piotroski F-Score Partial
5/8

BHP Group Limited passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
1.68x

For every $1 of reported earnings, BHP Group Limited generates $1.68 in operating cash flow ($18.7B OCF vs $11.1B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

None of these metrics is reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt
$11.9B
YoY-4.9%
QoQ-4.9%

BHP Group Limited held $11.9B in cash against $2.3B in long-term debt as of Q4 2025.

Shares Outstanding
5.08B
YoY+0.1%
QoQ+0.1%

BHP Group Limited had 5.08B shares outstanding in Q4 2025. This represents an increase of 0.1% from the same quarter a year earlier. Against the prior quarter it is up 0.1%.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Margins & Returns

None of these metrics is reported for Q4 2025.

Capital Allocation

None of these metrics is reported for Q4 2025.

BHP Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BHP quarterly income statement
MetricQ4'2520-FQ4'2420-FQ4'2320-FQ2'2310-QQ4'2210-KQ4'2110-KQ4'2010-KQ2'2010-Q

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

BHP Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BHP quarterly balance sheet
MetricQ4'2520-FQ4'2420-FQ4'2320-FQ2'2310-QQ4'2210-KQ4'2110-KQ4'2010-KQ2'2010-Q
Total Assets$108.8B+6.3%$102.4B+1.1%$101.3B+6.4%$87.8B$95.2B-12.6%$108.9B+3.0%$105.7B+3.9%$102.3B-0.1%
Current Assets$22.8B-6.2%$24.3B+4.2%$23.4B-18.5%$20.1B$28.7B+7.4%$26.7B+24.3%$21.5B-8.1%$22.2B-15.8%
Cash & Equivalents$11.9B-4.9%$12.5B+0.6%$12.4B-27.9%$9.6B$17.2B+13.1%$15.2B+13.6%$13.4B-14.0%$14.3B-8.1%
Inventory$5.5B-5.0%$5.8B+11.6%$5.2B+5.8%$4.9B$4.9B+11.5%$4.4B+7.9%$4.1B+6.8%$3.9B-0.8%
Accounts Receivable$4.1B-20.4%$5.2B+12.5%$4.6B-15.3%$4.5B$5.4B-10.4%$6.1B+80.1%$3.4B-2.8%$3.6B-43.8%
Goodwill$1.3B0.0%$1.3B-3.5%$1.4B+16.0%$1.4B$1.2B0.0%$1.2B0.0%$1.2B-26.3%$670.0M-6.7%
Total Liabilities$56.6B+6.3%$53.2B+0.9%$52.8B+13.7%$41.3B$46.4B-13.0%$53.3B-0.4%$53.6B+7.0%$49.9B+5.9%
Current Liabilities$15.6B+9.4%$14.3B-24.9%$19.0B+12.6%$11.9B$16.9B+3.1%$16.4B+10.7%$14.8B+20.1%$13.8B+32.7%
Non-Current Liabilities$40.9B+5.1%$38.9B+15.5%$33.7B+14.4%$29.4B$29.5B-20.1%$36.9B-4.7%$38.7B+5.5%$36.1B-1.7%
Long-Term Debt$2.3B-4.9%$2.4B-2.7%$2.5B+21.4%N/A$2.1B-31.6%$3.0B+16.1%$2.6B+298.5%$2.0B
Total Equity$52.2B+6.3%$49.1B+1.2%$48.5B-0.5%$46.6B$48.8B-12.3%$55.6B+6.6%$52.2B+0.8%$52.4B-5.2%
Retained Earnings$42.7B+6.8%$40.0B+0.4%$39.8B-1.4%$37.9B$40.3B-13.8%$46.8B+7.8%$43.4B+1.3%$43.7B-5.5%

Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.

BHP Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BHP quarterly cash flow statement
MetricQ4'2520-FQ4'2420-FQ4'2320-FQ2'2310-QQ4'2210-KQ4'2110-KQ4'2010-KQ2'2010-Q

Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.

BHP Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BHP quarterly financial ratios
MetricQ4'2520-FQ4'2420-FQ4'2320-FQ2'2310-QQ4'2210-KQ4'2110-KQ4'2010-KQ2'2010-Q
Current Ratio1.46-0.2x1.70+0.5x1.23-0.5x1.691.69+0.1x1.63+0.2x1.45-0.4x1.62-0.9x
Debt-to-Equity0.040.0x0.050.0x0.050.0x0.890.040.0x0.050.0x0.050.0x0.04-0.8x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company Fiscal year Revenue Net income Net margin Market cap Health score
BHP Group Limited BHP FY2025 $51.3B $11.1B 21.7% $208.1B 39/100
Rio Tinto plc RIO FY2025 $57.6B $10.2B 17.8% $145.6B 28/100
Vale S.A. VALE FY2025 $38.4B $2.0B 5.2% $55.8B 17/100
MP Materials Corp. MP FY2025 $224.4M -$85.9M -38.3% $6.9B 33/100
TMC the metals company Inc. TMC FY2025 N/A -$319.8M N/A $1.2B —

Frequently Asked Questions

What is BHP Group Limited's annual revenue?

BHP Group Limited (BHP) reported $51.3B in total revenue for fiscal year 2025. This represents a -7.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is BHP Group Limited's revenue growing?

BHP Group Limited (BHP) revenue declined by 7.9% year-over-year, from $55.7B to $51.3B in fiscal year 2025.

Is BHP Group Limited profitable?

Yes, BHP Group Limited (BHP) reported a net income of $11.1B in fiscal year 2025, with a net profit margin of 21.7%.

As of fiscal year 2025, BHP Group Limited (BHP) had $11.9B in cash and equivalents against $2.3B in long-term debt.

BHP Group Limited (BHP) had a net profit margin of 21.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

BHP Group Limited (BHP) has a return on equity of 21.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

BHP Group Limited (BHP) generated $9.3B in free cash flow during fiscal year 2025. This represents a -21.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

BHP Group Limited (BHP) generated $18.7B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

BHP Group Limited (BHP) had $108.8B in total assets as of fiscal year 2025, including both current and long-term assets.

BHP Group Limited (BHP) invested $9.4B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

BHP Group Limited (BHP) had 5.08B shares outstanding as of fiscal year 2025.

BHP Group Limited (BHP) had a current ratio of 1.46 as of fiscal year 2025, which is considered adequate.

BHP Group Limited (BHP) had a debt-to-equity ratio of 0.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

BHP Group Limited (BHP) had a return on assets of 10.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

BHP Group Limited (BHP) trades at 18.7x earnings, its market capitalization divided by net income of $11.1B net income, FY2025. The market capitalization is $208.1B as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

BHP Group Limited (BHP) trades at 4.1x sales, its market capitalization divided by revenue of $51.3B revenue, FY2025. The market capitalization is $208.1B as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

BHP Group Limited (BHP) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

BHP Group Limited (BHP) has an earnings quality ratio of 1.68x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

BHP Group Limited (BHP) scores 39 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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