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

NYSE:HMY • US4132163001

Current stock price

14.34 USD
+0.4 (+2.87%)
At close:
14.32 USD
-0.02 (-0.14%)
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.
  • HMY had positive earnings in 4 of the past 5 years.
  • 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

  • HMY's Return On Assets of 14.20% is amongst the best of the industry. HMY outperforms 92.45% of its industry peers.
  • HMY has a Return On Equity of 31.37%. This is amongst the best in the industry. HMY outperforms 94.97% of its industry peers.
  • The Return On Invested Capital of HMY (21.77%) is better than 92.45% 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 60.43%.
  • 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 Profit Margin of 20.06%. This is amongst the best in the industry. HMY outperforms 81.13% of its industry peers.
  • Looking at the Operating Margin, with a value of 31.85%, HMY is in the better half of the industry, outperforming 77.99% of the companies in the same industry.
  • HMY's Operating Margin has improved in the last couple of years.
  • HMY has a Gross Margin of 36.53%. This is in the better half of the industry: HMY outperforms 71.07% of its industry peers.
  • HMY's Gross Margin has improved in the last couple of years.
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

  • HMY has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • HMY has more shares outstanding than it did 1 year ago.
  • The number of shares outstanding for HMY has been increased compared to 5 years ago.
  • HMY has a better debt/assets ratio than last year.
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 3.01 indicates that HMY is not in any danger for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 3.01, HMY is in line with its industry, outperforming 46.54% 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.
  • The Debt to FCF ratio of HMY (1.16) is better than 80.50% 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.
  • The Debt to Equity ratio of HMY (0.03) is better 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
WACC17.03%
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.
  • HMY's Current ratio of 0.54 is on the low side compared to the rest of the industry. HMY is outperformed by 90.57% 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 90.57% 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

7

3. HMY Growth Analysis

3.1 Past

  • HMY shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 53.72%, which is quite impressive.
  • The Revenue has grown by 20.94% in the past year. This is a very strong growth!
  • Measured over the past years, HMY shows a very strong growth in Revenue. The Revenue has been growing by 20.37% on average per year.
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

  • HMY is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 36.10% yearly.
  • Based on estimates for the next years, HMY will show a quite strong growth in Revenue. The Revenue will grow by 18.68% on average per year.
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

  • A Price/Earnings ratio of 9.50 indicates a reasonable valuation of HMY.
  • Based on the Price/Earnings ratio, HMY is valued cheaply inside the industry as 97.48% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Earnings ratio of 24.88, HMY is valued rather cheaply.
  • The Price/Forward Earnings ratio is 3.17, which indicates a rather cheap valuation of HMY.
  • HMY's Price/Forward Earnings ratio is rather cheap when compared to the industry. HMY is cheaper than 98.74% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 22.19. HMY is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 9.5
Fwd PE 3.17
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

  • Based on the Enterprise Value to EBITDA ratio, HMY is valued cheaper than 93.71% of the companies in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of HMY indicates a rather cheap valuation: HMY is cheaper than 93.71% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 13.82
EV/EBITDA 5.07
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.
  • The excellent profitability rating of HMY may justify a higher PE ratio.
  • HMY's earnings are expected to grow with 36.10% in the coming years. This may justify a more expensive valuation.
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

  • HMY has a Yearly Dividend Yield of 2.78%. Purely for dividend investing, there may be better candidates out there.
  • The stock price of HMY dropped by -34.04% 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 1.19, 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 a higher than the S&P500 average which is at 1.89.
Industry RankSector Rank
Dividend Yield 2.78%

5.2 History

  • HMY has been paying a dividend for at least 10 years, so it has a reliable track record.
  • HMY has decreased its dividend 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

  • HMY pays out 15.38% of its income as dividend. This is a 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 (3/27/2026, 8:23:43 PM)

After market: 14.32 -0.02 (-0.14%)

14.34

+0.4 (+2.87%)

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 Cap8.96B
Revenue(TTM)81.16B
Net Income(TTM)16.28B
Analysts76.36
Price Target29.43 (105.23%)
Short Float %0.94%
Short Ratio1.01
Dividend
Industry RankSector Rank
Dividend Yield 2.78%
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)0%
PT rev (3m)31.64%
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)0.17%
Valuation
Industry RankSector Rank
PE 9.5
Fwd PE 3.17
P/S 1.9
P/FCF 13.82
P/OCF 5.85
P/B 2.97
P/tB 2.97
EV/EBITDA 5.07
EPS(TTM)1.51
EY10.53%
EPS(NY)4.52
Fwd EY31.55%
FCF(TTM)1.04
FCFY7.24%
OCF(TTM)2.45
OCFY17.08%
SpS7.56
BVpS4.83
TBVpS4.83
PEG (NY)0.17
PEG (5Y)N/A
Graham Number12.81
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
WACC17.03%
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 9.5 and the Price/Book (PB) ratio is 2.97.


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%.