Telstra's Stable Yield vs Mineral Resources' Profit Slump in FY24
Telstra's FY24 debt/equity ratio stood at 99.4% with a 3.6% dividend yield, while Mineral Resources saw revenue grow 12.2% but net profit slump to $125m.
Telstra Group and Mineral Resources reported contrasting financial profiles for FY24, with the telecommunications giant posting stable returns while the diversified miner saw a sharp profit decline.
Telstra, Australia's largest telecom by market share with 22.5 million mobile accounts, reported a debt-to-equity ratio of 99.4% for the year ended June 30. The company's average dividend yield over the past five years stood at 3.6%, and its return on equity reached 10.7%, above the 10% threshold often cited for mature businesses.
Mineral Resources, a Western Australia-focused lithium and iron ore miner, grew revenue at 12.2% per year over three years to $5.278 billion in FY24. Net profit, however, fell sharply from $1.27 billion to $125 million. The company's return on equity dropped to 3.2%.
Mineral Resources provides mining and engineering services through its CSI Mining Services subsidiary, operating across Western Australia, Queensland, and the Northern Territory. The company maintains in-house engineering and construction capability to control project development.
Telstra operates in more than 20 countries globally, covering 99.6% of the Australian population with its network and delivering 5G services to over 85% of the country.
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