Valuation Harmony Gold Mining Company Limited

Equities

End-of-day quote Johannesburg S.E. Other stock markets 18/07/2025			5-day change	1st Jan Change
248.84 ^ZAR	+0.93%		-4.37%	+65.14%

18/07	South Africa's assets gain as it concludes G20 finance meeting with communique	RE
17/07	BMO Capital Initiates Coverage on Harmony Gold Mining With Market Perform Rating, $16 Price Target	MT

Data adjusted to current consolidation scope

Fiscal Period: June	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	43,339	32,178	32,038	48,978	1,04,180	1,54,824	-	-
Change	-	-25.75%	-0.43%	52.87%	112.71%	48.61%	-	-
Enterprise Value (EV) ¹	44,700	32,720	32,795	51,806	1,01,281	1,39,991	1,24,616	1,03,074
Change	-	-26.8%	0.23%	57.97%	95.5%	38.22%	-10.98%	-17.29%
P/E ratio	-43.8x	5.86x	-30.2x	10.2x	12.1x	18.5x	5.46x	5.4x
PBR	1.64x	1.01x	1.06x	1.41x	2.6x	3.3x	1.96x	1.52x
PEG	-	-0x	0x	-0x	0.2x	-6.79x	0x	5.1x
Capitalization / Revenue	1.48x	0.77x	0.75x	0.99x	1.7x	2.08x	1.71x	1.7x
EV / Revenue	1.53x	0.78x	0.77x	1.05x	1.65x	1.88x	1.38x	1.13x
EV / EBITDA	6.21x	2.98x	4.46x	4.91x	6.21x	4.66x	2.85x	2.42x
EV / EBIT	12.1x	4.62x	8.92x	7.3x	8.67x	5.89x	3.16x	2.8x
EV / FCF	40.2x	8.11x	46.2x	22.4x	14x	67.7x	8.58x	5.33x
FCF Yield	2.49%	12.3%	2.16%	4.46%	7.16%	1.48%	11.7%	18.8%
Dividend per Share ²	-	1.37	0.62	0.75	2.41	4.639	7.409	7.158
Rate of return	-	2.6%	1.19%	0.95%	1.43%	1.86%	2.98%	2.88%
EPS ²	-1.64	9.01	-1.72	7.8	13.86	13.48	45.6	46.08
Distribution rate	-	15.2%	-36%	9.62%	17.4%	34.4%	16.2%	15.5%
Net sales ¹	29,245	41,733	42,645	49,275	61,379	74,493	90,513	91,310
EBITDA ¹	7,197	10,978	7,361	10,548	16,318	30,067	43,790	42,661
EBIT ¹	3,689	7,085	3,678	7,094	11,676	23,774	39,480	36,802
Net income ¹	-878	5,553	-1,052	4,820	8,587	5,120	32,266	36,580
Net Debt ¹	1,361	542	757	2,828	-2,899	-14,833	-30,208	-51,750
Reference price ²	71.86	52.76	51.97	79.25	168.05	248.84	248.84	248.84
Nbr of stocks (in thousands)	6,03,104	6,09,898	6,16,478	6,18,025	6,19,936	6,22,183	-	-
Announcement Date	15/09/20	31/08/21	30/08/22	29/08/23	04/09/24	-	-	-

¹ZAR in Million²ZAR

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
HARMONY GOLD MINING COMPANY LIMITED	18.46x	1.88x	4.66x	0.8%	876.04Cr
FRANCO-NEVADA CORPORATION	33.62x	18.74x	20.45x	0.98%	2.98TCr
GOLD FIELDS LIMITED	8.47x	4.78x	10.13x	1.56%	2.2TCr
POLYUS	7.38x	-	-	-	1.44TCr
ZHONGJIN GOLD CORP.,LTD	16.38x	-	-	3.56%	1.02TCr
EVOLUTION MINING LIMITED	17.08x	3.78x	12.9x	1.79%	987.93Cr
ENDEAVOUR MINING PLC	10.52x	1.93x	3.32x	3.61%	715.36Cr
TRIPLE FLAG PRECIOUS METALS CORP.	24.64x	14.12x	17.42x	0.95%	478.2Cr
PT ANEKA TAMBANG TBK	10.74x	0.66x	6.93x	5.05%	437.75Cr
SANDSTORM GOLD LTD.	53.35x	14.59x	19.13x	0.61%	280.92Cr
Average	20.06x	7.56x	11.87x	2.1%	1.14TCr
Weighted average by Cap.	19.10x	9.40x	13.30x	1.8%