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

NYSE:HMY • US4132163001

Current stock price

15.61 USD
-0.16 (-1.01%)
At close:
15.64 USD
+0.03 (+0.19%)
After Hours:

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

  • HMY had positive earnings in the past year.
  • In the past year HMY had a positive cash flow from operations.
  • 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

  • The Return On Assets of HMY (14.20%) is better than 92.64% of its industry peers.
  • Looking at the Return On Equity, with a value of 31.37%, HMY belongs to the top of the industry, outperforming 96.32% of the companies in the same industry.
  • HMY has a Return On Invested Capital of 21.77%. This is amongst the best in the industry. HMY outperforms 93.25% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for HMY is significantly below the industry average of 58.77%.
  • The last Return On Invested Capital (21.77%) for HMY is above the 3 year average (17.58%), which is a sign of increasing profitability.
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

  • HMY has a better Profit Margin (20.06%) than 80.37% of its industry peers.
  • With a decent Operating Margin value of 31.85%, HMY is doing good in the industry, outperforming 77.30% of the companies in the same industry.
  • HMY's Operating Margin has improved in the last couple of years.
  • HMY's Gross Margin of 36.53% is fine compared to the rest of the industry. HMY outperforms 69.94% 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.
  • Compared to 1 year ago, HMY has more shares outstanding
  • 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

  • An Altman-Z score of 3.12 indicates that HMY is not in any danger for bankruptcy at the moment.
  • With a Altman-Z score value of 3.12, HMY perfoms like the industry average, outperforming 46.01% 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 has a better Debt to FCF ratio (1.16) than 80.98% of its industry peers.
  • HMY has a Debt/Equity ratio of 0.03. This is a healthy value indicating a solid balance between debt and equity.
  • HMY has a Debt to Equity ratio of 0.03. This is in the better half of the industry: HMY outperforms 63.80% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF 1.16
Altman-Z 3.12
ROIC/WACC1.23
WACC17.63%
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

  • A Current Ratio of 0.54 indicates that HMY may have some problems paying its short term obligations.
  • The Current ratio of HMY (0.54) is worse than 90.18% of its industry peers.
  • 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.
  • Looking at the Quick ratio, with a value of 0.38, HMY is doing worse than 90.80% of the companies in the same industry.
  • 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 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

8

3. HMY Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 53.72% over the past year.
  • Looking at the last year, HMY shows a very strong growth in Revenue. The Revenue has grown by 20.94%.
  • 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 33.48% on average per year.
  • The Revenue is expected to grow by 20.40% on average over the next years. This is a very strong growth
EPS Next Y44.53%
EPS Next 2Y53.36%
EPS Next 3Y33.48%
EPS Next 5YN/A
Revenue Next Year34.51%
Revenue Next 2Y30.93%
Revenue Next 3Y20.4%
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

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10

4. HMY Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 10.07, the valuation of HMY can be described as reasonable.
  • 96.32% of the companies in the same industry are more expensive than HMY, based on the Price/Earnings ratio.
  • Compared to an average S&P500 Price/Earnings ratio of 26.64, HMY is valued rather cheaply.
  • HMY is valuated cheaply with a Price/Forward Earnings ratio of 3.50.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of HMY indicates a rather cheap valuation: HMY is cheaper than 99.39% 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 (21.36), we can say HMY is valued rather cheaply.
Industry RankSector Rank
PE 10.07
Fwd PE 3.5
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

  • 94.48% of the companies in the same industry are more expensive than HMY, based on the Enterprise Value to EBITDA ratio.
  • 93.86% 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 14.69
EV/EBITDA 5.43
HMY Per share dataHMY EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • HMY has an outstanding profitability rating, which may justify a higher PE ratio.
  • A more expensive valuation may be justified as HMY's earnings are expected to grow with 33.48% in the coming years.
PEG (NY)0.23
PEG (5Y)N/A
EPS Next 2Y53.36%
EPS Next 3Y33.48%

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5

5. HMY Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 2.50%, HMY has a reasonable but not impressive dividend return.
  • The stock price of HMY dropped by -26.85% 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.
  • HMY's Dividend Yield is rather good when compared to the industry average which is at 0.99. HMY pays more dividend than 88.34% of the companies in the same industry.
  • HMY's Dividend Yield is a higher than the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 2.5%

5.2 History

  • HMY has been paying a dividend for at least 10 years, so it has a reliable track record.
  • HMY has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)N/A
Div Incr Years4
Div Non Decr Years4
HMY Yearly Dividends per shareHMY Yearly Dividends per shareYearly Dividends per share 2016 2017 2021 2022 2023 2024 2025 2026 0.1 0.2 0.3

5.3 Sustainability

  • HMY pays out 15.38% of its income as dividend. This is a sustainable payout ratio.
DP15.38%
EPS Next 2Y53.36%
EPS Next 3Y33.48%
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 (5/1/2026, 8:04:00 PM)

After market: 15.64 +0.03 (+0.19%)

15.61

-0.16 (-1.01%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Industry StrengthN/A
Industry GrowthN/A
Earnings (Last)03-11
Earnings (Next)N/A
Inst Owners56.21%
Inst Owner Change-0.83%
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap9.75B
Revenue(TTM)81.16B
Net Income(TTM)16.28B
Analysts78.18
Price Target25.93 (66.11%)
Short Float %0.98%
Short Ratio0.97
Dividend
Industry RankSector Rank
Dividend Yield 2.5%
Yearly Dividend0.21
Dividend Growth(5Y)N/A
DP15.38%
Div Incr Years4
Div Non Decr Years4
Ex-Date04-24
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)-11.88%
PT rev (3m)14.13%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-7.2%
EPS NY rev (3m)-10.81%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-2.07%
Revenue NY rev (3m)-1.91%
Valuation
Industry RankSector Rank
PE 10.07
Fwd PE 3.5
P/S 2.02
P/FCF 14.69
P/OCF 6.22
P/B 3.16
P/tB 3.16
EV/EBITDA 5.43
EPS(TTM)1.55
EY9.93%
EPS(NY)4.46
Fwd EY28.59%
FCF(TTM)1.06
FCFY6.81%
OCF(TTM)2.51
OCFY16.07%
SpS7.74
BVpS4.95
TBVpS4.95
PEG (NY)0.23
PEG (5Y)N/A
Graham Number13.1329 (-15.87%)
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 3.12
F-Score5
WACC17.63%
ROIC/WACC1.23
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 Y44.53%
EPS Next 2Y53.36%
EPS Next 3Y33.48%
EPS Next 5YN/A
Revenue 1Y (TTM)20.94%
Revenue growth 3Y20.11%
Revenue growth 5Y20.37%
Sales Q2Q%19.54%
Revenue Next Year34.51%
Revenue Next 2Y30.93%
Revenue Next 3Y20.4%
Revenue Next 5YN/A
EBIT growth 1Y49.81%
EBIT growth 3Y73.31%
EBIT growth 5Y54.8%
EBIT Next Year105.44%
EBIT Next 3Y40.87%
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 8 / 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.


Can you provide the profitability details for HARMONY GOLD MNG-SPON ADR?

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


How financially healthy is HARMONY GOLD MNG-SPON ADR?

The financial health rating of HARMONY GOLD MNG-SPON ADR (HMY) is 6 / 10.


How sustainable is the dividend of HARMONY GOLD MNG-SPON ADR (HMY) stock?

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