HARMONY GOLD MNG-SPON ADR (HMY) Fundamental Analysis & Valuation

NYSE:HMY • US4132163001

Current stock price

14.39 USD
-0.16 (-1.1%)
Last:

This HMY fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

1. HMY Profitability Analysis

1.1 Basic Checks

  • In the past year HMY was profitable.
  • HMY had a positive operating cash flow in the past year.
  • Of the past 5 years HMY 4 years were profitable.
  • Each year in the past 5 years HMY had a positive operating cash flow.
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

  • HMY's Return On Assets of 14.20% is amongst the best of the industry. HMY outperforms 92.45% of its industry peers.
  • With an excellent Return On Equity value of 31.37%, HMY belongs to the best of the industry, outperforming 94.97% of the companies in the same industry.
  • Looking at the Return On Invested Capital, with a value of 21.77%, HMY belongs to the top of the industry, outperforming 92.45% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for HMY is significantly below the industry average of 61.16%.
  • The 3 year average ROIC (17.58%) for HMY is below the current ROIC(21.77%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 14.2%
ROE 31.37%
ROIC 21.77%
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

  • The Profit Margin of HMY (20.06%) is better than 81.13% of its industry peers.
  • The Operating Margin of HMY (31.85%) is better than 77.99% of its industry peers.
  • In the last couple of years the Operating Margin of HMY has grown nicely.
  • HMY has a better Gross Margin (36.53%) than 71.07% of its industry peers.
  • In the last couple of years the Gross Margin of HMY has grown nicely.
Industry RankSector Rank
OM 31.85%
PM (TTM) 20.06%
GM 36.53%
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

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6

2. HMY Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so HMY is still creating some value.
  • HMY has more shares outstanding than it did 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 3.01. 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 3.01, HMY is in line with its industry, outperforming 45.91% of the companies in the same industry.
  • HMY has a debt to FCF ratio of 1.16. This is a very positive value and a sign of high solvency as it would only need 1.16 years to pay back of all of its debts.
  • HMY's Debt to FCF ratio of 1.16 is amongst the best of the industry. HMY outperforms 80.50% of its industry peers.
  • A Debt/Equity ratio of 0.03 indicates that HMY is not too dependend on debt financing.
  • HMY has a better Debt to Equity ratio (0.03) than 67.92% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF 1.16
Altman-Z 3.01
ROIC/WACC1.28
WACC17.04%
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 0.54. This is a bad value and indicates that HMY is not financially healthy enough and could expect problems in meeting its short term obligations.
  • Looking at the Current ratio, with a value of 0.54, HMY is doing worse than 90.57% of the companies in the same industry.
  • HMY has a Quick Ratio of 0.54. This is a bad value and indicates that HMY is not financially healthy enough and could expect problems in meeting its short term obligations.
  • HMY has a Quick ratio of 0.38. This is amonst the worse of the industry: HMY underperforms 90.57% of its industry peers.
  • HMY does not score too well on the current and quick ratio evaluation. However, as it has 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 0.54
Quick Ratio 0.38
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

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

7

3. HMY Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 53.72% over the past year.
  • The Revenue has grown by 20.94% in the past year. This is a very strong growth!
  • The Revenue has been growing by 20.37% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)53.72%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%22.71%
Revenue 1Y (TTM)20.94%
Revenue growth 3Y20.11%
Revenue growth 5Y20.37%
Sales Q2Q%19.54%

3.2 Future

  • Based on estimates for the next years, HMY will show a very strong growth in Earnings Per Share. The EPS will grow by 36.10% on average per year.
  • The Revenue is expected to grow by 18.68% on average over the next years. This is quite good.
EPS Next Y55.75%
EPS Next 2Y56.22%
EPS Next 3Y36.1%
EPS Next 5YN/A
Revenue Next Year37.36%
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 80

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10

4. HMY Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 9.34, the valuation of HMY can be described as very reasonable.
  • Compared to the rest of the industry, the Price/Earnings ratio of HMY indicates a rather cheap valuation: HMY is cheaper than 97.48% of the companies listed in the same industry.
  • HMY's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 25.61.
  • A Price/Forward Earnings ratio of 3.13 indicates a rather cheap valuation of HMY.
  • Based on the Price/Forward Earnings ratio, HMY is valued cheaper than 98.74% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 22.79. HMY is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 9.34
Fwd PE 3.13
HMY Price Earnings VS Forward Price EarningsHMY Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • HMY's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. HMY is cheaper than 93.71% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, HMY is valued cheaply inside the industry as 93.71% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 13.64
EV/EBITDA 5.06
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 36.10% in the coming years.
PEG (NY)0.17
PEG (5Y)N/A
EPS Next 2Y56.22%
EPS Next 3Y36.1%

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5

5. HMY Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 3.01%, HMY has a reasonable but not impressive dividend return.
  • The stock price of HMY dropped by -33.07% in the last 3 months. With lower prices the dividend yield is higher, but it may be a sign investors do not trust the long term dividend.
  • Compared to an average industry Dividend Yield of 1.14, HMY pays a better dividend. On top of this HMY pays more dividend than 91.19% of the companies listed in the same industry.
  • HMY's Dividend Yield is rather good when compared to the S&P500 average which is at 1.89.
Industry RankSector Rank
Dividend Yield 3.01%

5.2 History

  • HMY has paid a dividend for at least 10 years, which is 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

  • 15.38% of the earnings are spent on dividend by HMY. This is a low number and sustainable payout ratio.
DP15.38%
EPS Next 2Y56.22%
EPS Next 3Y36.1%
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

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HMY Fundamentals: All Metrics, Ratios and Statistics

HARMONY GOLD MNG-SPON ADR

NYSE:HMY (3/26/2026, 11:51:08 AM)

14.39

-0.16 (-1.1%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)03-11
Earnings (Next)N/A
Inst Owners56.6%
Inst Owner Change-17.21%
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap8.99B
Revenue(TTM)81.16B
Net Income(TTM)16.28B
Analysts76.36
Price Target29.43 (104.52%)
Short Float %0.94%
Short Ratio1.01
Dividend
Industry RankSector Rank
Dividend Yield 3.01%
Yearly Dividend0.2
Dividend Growth(5Y)N/A
DP15.38%
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)-2.83%
PT rev (3m)33.33%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-3.89%
EPS NY rev (3m)-3.09%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.75%
Revenue NY rev (3m)0.59%
Valuation
Industry RankSector Rank
PE 9.34
Fwd PE 3.13
P/S 1.87
P/FCF 13.64
P/OCF 5.78
P/B 2.93
P/tB 2.93
EV/EBITDA 5.06
EPS(TTM)1.54
EY10.7%
EPS(NY)4.6
Fwd EY31.95%
FCF(TTM)1.05
FCFY7.33%
OCF(TTM)2.49
OCFY17.3%
SpS7.68
BVpS4.91
TBVpS4.91
PEG (NY)0.17
PEG (5Y)N/A
Graham Number13.04
Profitability
Industry RankSector Rank
ROA 14.2%
ROE 31.37%
ROCE 30.57%
ROIC 21.77%
ROICexc 23.84%
ROICexgc 23.84%
OM 31.85%
PM (TTM) 20.06%
GM 36.53%
FCFM 13.73%
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-Score5
Asset Turnover0.71
Health
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF 1.16
Debt/EBITDA 0.05
Cap/Depr 268.19%
Cap/Sales 18.69%
Interest Coverage 37.68
Cash Conversion 83.52%
Profit Quality 68.48%
Current Ratio 0.54
Quick Ratio 0.38
Altman-Z 3.01
F-Score5
WACC17.04%
ROIC/WACC1.28
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)53.72%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%22.71%
EPS Next Y55.75%
EPS Next 2Y56.22%
EPS Next 3Y36.1%
EPS Next 5YN/A
Revenue 1Y (TTM)20.94%
Revenue growth 3Y20.11%
Revenue growth 5Y20.37%
Sales Q2Q%19.54%
Revenue Next Year37.36%
Revenue Next 2Y29.49%
Revenue Next 3Y18.68%
Revenue Next 5YN/A
EBIT growth 1Y49.81%
EBIT growth 3Y73.31%
EBIT growth 5Y54.8%
EBIT Next Year113.36%
EBIT Next 3Y36.55%
EBIT Next 5YN/A
FCF growth 1Y85.27%
FCF growth 3Y147.71%
FCF growth 5Y57.51%
OCF growth 1Y89.6%
OCF growth 3Y48.44%
OCF growth 5Y36.82%

HARMONY GOLD MNG-SPON ADR / HMY Fundamental Analysis 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 10 / 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 9.34 and the Price/Book (PB) ratio is 2.93.


Can you provide the dividend sustainability for HMY stock?

The dividend rating of HARMONY GOLD MNG-SPON ADR (HMY) is 5 / 10 and the dividend payout ratio is 15.38%.