HARMONY GOLD MNG-SPON ADR (HMY) Stock Fundamental Analysis

NYSE:HMY • US4132163001

21.82 USD
+0.9 (+4.3%)
Last: Feb 23, 2026, 02:57 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

7

HMY gets a fundamental rating of 7 out of 10. The analysis compared the fundamentals against 156 industry peers in the Metals & Mining industry. HMY has outstanding health and profitabily ratings, belonging to the best of the industry. This is a solid base for any company. HMY has both an excellent growth and valuation score. This means it is growing and it is still cheap. This is a rare combination! This makes HMY very considerable for value and growth and quality investing!


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • HMY had positive earnings in the past year.
  • HMY had a positive operating cash flow in the past year.
  • Of the past 5 years HMY 4 years were profitable.
  • HMY had a positive operating cash flow in each of the past 5 years.
HMY Yearly Net Income VS EBIT VS OCF VS FCFHMY Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B 10B 15B 20B

1.2 Ratios

  • With an excellent Return On Assets value of 18.56%, HMY belongs to the best of the industry, outperforming 95.51% of the companies in the same industry.
  • HMY has a better Return On Equity (29.82%) than 94.87% of its industry peers.
  • HMY's Return On Invested Capital of 22.66% is amongst the best of the industry. HMY outperforms 95.51% of its industry peers.
  • HMY had an Average Return On Invested Capital over the past 3 years of 17.58%. This is significantly above the industry average of 10.67%.
  • The last Return On Invested Capital (22.66%) for HMY is above the 3 year average (17.58%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 18.56%
ROE 29.82%
ROIC 22.66%
ROA(3y)13.73%
ROA(5y)9.87%
ROE(3y)21.58%
ROE(5y)15.51%
ROIC(3y)17.58%
ROIC(5y)14.04%
HMY Yearly ROA, ROE, ROICHMY Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 20

1.3 Margins

  • HMY's Profit Margin of 19.47% is amongst the best of the industry. HMY outperforms 80.77% of its industry peers.
  • HMY has a Operating Margin of 28.04%. This is in the better half of the industry: HMY outperforms 77.56% of its industry peers.
  • HMY's Operating Margin has improved in the last couple of years.
  • HMY has a better Gross Margin (33.10%) than 68.59% of its industry peers.
  • HMY's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 28.04%
PM (TTM) 19.47%
GM 33.1%
OM growth 3Y44.29%
OM growth 5Y28.6%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y39.66%
GM growth 5Y23.45%
HMY Yearly Profit, Operating, Gross MarginsHMY Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 20 -20 30

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

7

2. Health

2.1 Basic Checks

  • HMY has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • The number of shares outstanding for HMY has been increased compared to 1 year ago.
  • HMY has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, HMY has an improved debt to assets ratio.
HMY Yearly Shares OutstandingHMY Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M
HMY Yearly Total Debt VS Total AssetsHMY Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B

2.2 Solvency

  • HMY has an Altman-Z score of 6.56. This indicates that HMY is financially healthy and has little risk of bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 6.56, HMY is in the better half of the industry, outperforming 67.95% of the companies in the same industry.
  • HMY has a debt to FCF ratio of 0.18. This is a very positive value and a sign of high solvency as it would only need 0.18 years to pay back of all of its debts.
  • HMY's Debt to FCF ratio of 0.18 is amongst the best of the industry. HMY outperforms 92.95% of its industry peers.
  • HMY has a Debt/Equity ratio of 0.04. This is a healthy value indicating a solid balance between debt and equity.
  • HMY's Debt to Equity ratio of 0.04 is fine compared to the rest of the industry. HMY outperforms 68.59% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.04
Debt/FCF 0.18
Altman-Z 6.56
ROIC/WACC1.38
WACC16.42%
HMY Yearly LT Debt VS Equity VS FCFHMY Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10B 20B 30B 40B

2.3 Liquidity

  • HMY has a Current Ratio of 1.72. This is a normal value and indicates that HMY is financially healthy and should not expect problems in meeting its short term obligations.
  • HMY has a Current ratio of 1.72. This is in the lower half of the industry: HMY underperforms 65.38% of its industry peers.
  • HMY has a Quick Ratio of 1.41. This is a normal value and indicates that HMY is financially healthy and should not expect problems in meeting its short term obligations.
  • HMY's Quick ratio of 1.41 is in line compared to the rest of the industry. HMY outperforms 45.51% of its industry peers.
  • The current and quick ratio evaluation for HMY is rather negative, while it does have excellent solvency and profitability. These ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
Industry RankSector Rank
Current Ratio 1.72
Quick Ratio 1.41
HMY Yearly Current Assets VS Current LiabilitesHMY Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B

More info and screens

WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

7

3. Growth

3.1 Past

  • HMY shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 66.97%, which is quite impressive.
  • Looking at the last year, HMY shows a very strong growth in Revenue. The Revenue has grown by 20.39%.
  • The Revenue has been growing by 20.37% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)66.97%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%147.05%
Revenue 1Y (TTM)20.39%
Revenue growth 3Y20.11%
Revenue growth 5Y20.37%
Sales Q2Q%22.66%

3.2 Future

  • HMY is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 30.32% yearly.
  • The Revenue is expected to grow by 18.68% on average over the next years. This is quite good.
EPS Next Y61.88%
EPS Next 2Y46.38%
EPS Next 3Y30.32%
EPS Next 5YN/A
Revenue Next Year36.33%
Revenue Next 2Y29.49%
Revenue Next 3Y18.68%
Revenue Next 5YN/A

3.3 Evolution

  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
HMY Yearly Revenue VS EstimatesHMY Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 20B 40B 60B 80B 100B
HMY Yearly EPS VS EstimatesHMY Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0 20 40 60

More info and screens

Find the best growth stocksShow best growing peers

9

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 15.15 indicates a correct valuation of HMY.
  • HMY's Price/Earnings ratio is rather cheap when compared to the industry. HMY is cheaper than 95.51% of the companies in the same industry.
  • HMY is valuated rather cheaply when we compare the Price/Earnings ratio to 26.99, which is the current average of the S&P500 Index.
  • With a Price/Forward Earnings ratio of 6.80, the valuation of HMY can be described as very cheap.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of HMY indicates a rather cheap valuation: HMY is cheaper than 97.44% of the companies listed in the same industry.
  • When comparing the Price/Forward Earnings ratio of HMY to the average of the S&P500 Index (28.02), we can say HMY is valued rather cheaply.
Industry RankSector Rank
PE 15.15
Fwd PE 6.8
HMY Price Earnings VS Forward Price EarningsHMY Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 50 100 150 200

4.2 Price Multiples

  • 91.03% of the companies in the same industry are more expensive than HMY, based on the Enterprise Value to EBITDA ratio.
  • 92.95% of the companies in the same industry are more expensive than HMY, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 20.33
EV/EBITDA 7.79
HMY Per share dataHMY EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

4.3 Compensation for Growth

  • HMY's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • The excellent profitability rating of HMY may justify a higher PE ratio.
  • A more expensive valuation may be justified as HMY's earnings are expected to grow with 30.32% in the coming years.
PEG (NY)0.24
PEG (5Y)N/A
EPS Next 2Y46.38%
EPS Next 3Y30.32%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. Dividend

5.1 Amount

  • HMY has a Yearly Dividend Yield of 1.17%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 1.03, HMY pays a better dividend. On top of this HMY pays more dividend than 80.77% of the companies listed in the same industry.
  • Compared to the average S&P500 Dividend Yield of 1.81, HMY is paying slightly less dividend.
Industry RankSector Rank
Dividend Yield 1.17%

5.2 History

  • HMY has been paying a dividend for at least 10 years, so it has a reliable track record.
  • The dividend of HMY decreased in the last 3 years.
Dividend Growth(5Y)N/A
Div Incr Years2
Div Non Decr Years2
HMY Yearly Dividends per shareHMY Yearly Dividends per shareYearly Dividends per share 2016 2017 2021 2022 2023 2024 2025 0.05 0.1 0.15 0.2

5.3 Sustainability

  • 14.60% of the earnings are spent on dividend by HMY. This is a low number and sustainable payout ratio.
DP14.6%
EPS Next 2Y46.38%
EPS Next 3Y30.32%
HMY Yearly Income VS Free CF VS DividendHMY Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B 10B
HMY Dividend Payout.HMY Dividend Payout, showing the Payout Ratio.HMY Dividend Payout.PayoutRetained Earnings

More info and screens

Find the best dividend stocksShow peers with best dividend

HARMONY GOLD MNG-SPON ADR

NYSE:HMY (2/23/2026, 2:57:03 PM)

21.82

+0.9 (+4.3%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)12-30
Earnings (Next)03-11
Inst Owners54.37%
Inst Owner Change-17.29%
Ins Owners0.15%
Ins Owner ChangeN/A
Market Cap13.63B
Revenue(TTM)73.90B
Net Income(TTM)14.38B
Analysts74.55
Price Target30.29 (38.82%)
Short Float %1.4%
Short Ratio1.63
Dividend
Industry RankSector Rank
Dividend Yield 1.17%
Yearly Dividend0.21
Dividend Growth(5Y)N/A
DP14.6%
Div Incr Years2
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)33.29%
PT rev (3m)66.33%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)15.25%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.58%
Revenue NY rev (3m)2.87%
Valuation
Industry RankSector Rank
PE 15.15
Fwd PE 6.8
P/S 2.97
P/FCF 20.33
P/OCF 9.69
P/B 4.55
P/tB 4.55
EV/EBITDA 7.79
EPS(TTM)1.44
EY6.6%
EPS(NY)3.21
Fwd EY14.7%
FCF(TTM)1.07
FCFY4.92%
OCF(TTM)2.25
OCFY10.32%
SpS7.35
BVpS4.8
TBVpS4.8
PEG (NY)0.24
PEG (5Y)N/A
Graham Number12.47
Profitability
Industry RankSector Rank
ROA 18.56%
ROE 29.82%
ROCE 31.83%
ROIC 22.66%
ROICexc 28.37%
ROICexgc 28.37%
OM 28.04%
PM (TTM) 19.47%
GM 33.1%
FCFM 14.6%
ROA(3y)13.73%
ROA(5y)9.87%
ROE(3y)21.58%
ROE(5y)15.51%
ROIC(3y)17.58%
ROIC(5y)14.04%
ROICexc(3y)20.33%
ROICexc(5y)15.92%
ROICexgc(3y)20.33%
ROICexgc(5y)15.95%
ROCE(3y)24.69%
ROCE(5y)19.72%
ROICexgc growth 3Y57.9%
ROICexgc growth 5Y38.89%
ROICexc growth 3Y57.96%
ROICexc growth 5Y39.38%
OM growth 3Y44.29%
OM growth 5Y28.6%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y39.66%
GM growth 5Y23.45%
F-Score7
Asset Turnover0.95
Health
Industry RankSector Rank
Debt/Equity 0.04
Debt/FCF 0.18
Debt/EBITDA 0.07
Cap/Depr 244.84%
Cap/Sales 16.04%
Interest Coverage 80.32
Cash Conversion 88.59%
Profit Quality 75.03%
Current Ratio 1.72
Quick Ratio 1.41
Altman-Z 6.56
F-Score7
WACC16.42%
ROIC/WACC1.38
Cap/Depr(3y)215.65%
Cap/Depr(5y)189.66%
Cap/Sales(3y)15.08%
Cap/Sales(5y)14.42%
Profit Quality(3y)69.12%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)66.97%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%147.05%
EPS Next Y61.88%
EPS Next 2Y46.38%
EPS Next 3Y30.32%
EPS Next 5YN/A
Revenue 1Y (TTM)20.39%
Revenue growth 3Y20.11%
Revenue growth 5Y20.37%
Sales Q2Q%22.66%
Revenue Next Year36.33%
Revenue Next 2Y29.49%
Revenue Next 3Y18.68%
Revenue Next 5YN/A
EBIT growth 1Y47.97%
EBIT growth 3Y73.31%
EBIT growth 5Y54.8%
EBIT Next Year114.89%
EBIT Next 3Y33.05%
EBIT Next 5YN/A
FCF growth 1Y48.81%
FCF growth 3Y147.71%
FCF growth 5Y57.51%
OCF growth 1Y44.71%
OCF growth 3Y48.44%
OCF growth 5Y36.82%

HARMONY GOLD MNG-SPON ADR / HMY FAQ

Can you provide the ChartMill fundamental rating for HARMONY GOLD MNG-SPON ADR?

ChartMill assigns a fundamental rating of 7 / 10 to HMY.


What is the valuation status for HMY stock?

ChartMill assigns a valuation rating of 9 / 10 to HARMONY GOLD MNG-SPON ADR (HMY). This can be considered as Undervalued.


What is the profitability of HMY stock?

HARMONY GOLD MNG-SPON ADR (HMY) has a profitability rating of 8 / 10.


Can you provide the PE and PB ratios for HMY stock?

The Price/Earnings (PE) ratio for HARMONY GOLD MNG-SPON ADR (HMY) is 15.15 and the Price/Book (PB) ratio is 4.55.


Can you provide the dividend sustainability for HMY stock?

The dividend rating of HARMONY GOLD MNG-SPON ADR (HMY) is 4 / 10 and the dividend payout ratio is 14.6%.