Revenue growth accelerated to 26.6% in 2026Q2, while gross margins expanded significantly to 48.2% compared to 24.7% in 2024Q2.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 | Jun'10 | Jun'09 | Jun'08 | Jun'07 | Jun'06 | Jun'05 | Jun'04 | Jun'03 | Jun'02 | Jun'01 | Jun'00 | Jun'99 | Jun'98 | Jun'97 |
|---|
| Sales/Revenue | 15.96B | 7.88B | 6.24B | 5.5B | 5.12B | 5.27B | 4.18B | 2.76B | 2.49B | 2.34B | 2.43B | 2.11B | 1.81B | 2.08B | 3B | 2.57B | 1.99B | 1.91B | 1.84B | 1.67B | 1.75B | 1.15B | 1.95B | 1.99B | 3.14B | 2.14B | 2.03B | 1.07B | 757.52M | 278.9M |
| Revenue Growth % | 43.88% | 26.26% | 13.53% | 7.38% | -2.86% | 25.9% | 51.52% | 10.91% | 6.43% | -3.83% | 15.57% | 16.35% | -12.86% | -30.88% | 17.11% | 28.88% | 4.17% | 3.66% | 10.25% | -4.63% | 52.19% | -40.92% | -2.06% | -36.7% | 46.7% | 5.58% | 89.61% | 41.37% | 171.61% | - |
| Cost of Goods Sold | 9.52B | 4.75B | 4.43B | 3.91B | 3.74B | 3.39B | 2.94B | 2.55B | 2.35B | 2.31B | 2.24B | 1.91B | 1.69B | 1.64B | 2.5B | 2.34B | 1.72B | 1.83B | 1.6B | 1.56B | 1.53B | 847.4M | 1.75B | 1.82B | 2.25B | 1.92B | 1.93B | 959.28M | 723.35M | 256.23M |
| COGS % of Revenue | - | 60.26% | 71% | 71.16% | 73.1% | 64.3% | 70.2% | 92.46% | 94.27% | 98.63% | 91.94% | 90.93% | 93.25% | 78.95% | 83.28% | 91.36% | 86.36% | 95.99% | 86.68% | 93.26% | 87.01% | 73.57% | 89.5% | 91.23% | 71.6% | 89.39% | 95.12% | 89.58% | 95.49% | 91.87% |
| Gross Profit | 6.44B | 3.13B | 1.81B | 1.59B | 1.38B | 1.88B | 1.25B | 208.2M | 142.7M | 32M | 196.2M | 191M | 122.16M | 437.12M | 502.4M | 221.77M | 271.6M | 76.71M | 245.47M | 112.68M | 227.64M | 304.5M | 204.63M | 174.54M | 893.07M | 227.52M | 99.02M | 111.61M | 34.16M | 22.68M |
| Gross Margin % | 40.34% | 39.74% | 29% | 28.84% | 26.9% | 35.7% | 29.8% | 7.54% | 5.73% | 1.37% | 8.06% | 9.07% | 6.75% | 21.05% | 16.72% | 8.64% | 13.64% | 4.01% | 13.32% | 6.74% | 12.99% | 26.43% | 10.5% | 8.77% | 28.4% | 10.61% | 4.88% | 10.42% | 4.51% | 8.13% |
| Gross Profit Growth % | - | 72.97% | 14.16% | 15.13% | -26.79% | 50.81% | 498.99% | 45.9% | 345.94% | -83.69% | 2.72% | 56.35% | -72.05% | -12.99% | 126.54% | -18.35% | 254.05% | -68.75% | 117.84% | -50.5% | -25.24% | 48.81% | 17.24% | -80.46% | 292.52% | 129.78% | -11.29% | 226.69% | 50.67% | - |
| Operating Expenses | 2.43B | 2.21B | 197.3M | 162.5M | 69.9M | 63.9M | 309.9M | 90.9M | 90.7M | 69.4M | 76.7M | 94.1M | 73.5M | 68.6M | 121.54M | 88.09M | 65.5M | 83.58M | 1.31M | 283.43M | 252.16M | 235.5M | 407.13M | -158.09M | 1.86B | 235.46M | 359.67M | 163.5M | 90.71M | 52.61M |
| OpEx % of Revenue | - | 28.1% | 3.16% | 2.96% | 1.37% | 1.21% | 7.41% | 3.29% | 3.64% | 2.97% | 3.15% | 4.47% | 4.06% | 3.3% | 4.05% | 3.43% | 3.29% | 4.37% | 0.07% | 16.95% | 14.38% | 20.44% | 20.88% | -7.94% | 59.27% | 10.98% | 17.71% | 15.27% | 11.98% | 18.86% |
| Selling, General & Admin | 426.67M | 213.8M | 199.3M | 172.9M | 161.2M | 64M | 309.9M | 90.9M | 90.7M | 69.4M | 76.7M | 69.3M | 78.12M | 78.07M | 121.54M | 88.09M | 140.8M | 83.58M | 79.41M | 171.62M | 159.31M | 150.7M | 214.7M | 104.63M | 179.22M | 235.46M | 228.28M | 75.41M | 34.75M | 43.08M |
| SG&A % of Revenue | - | 2.71% | 3.19% | 3.15% | 3.15% | 1.21% | 7.41% | 3.29% | 3.64% | 2.97% | 3.15% | 3.29% | 4.32% | 3.76% | 4.05% | 3.43% | 7.07% | 4.37% | 4.31% | 10.26% | 9.09% | 13.08% | 11.01% | 5.26% | 5.7% | 10.98% | 11.24% | 7.04% | 4.59% | 15.45% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 2B | -2M | -10.4M | -91.3M | -100K | 0 | 0 | 0 | 0 | 0 | -5.56M | -4.62M | -9.47M | 0 | 0 | 0 | 0 | -78.1M | 111.81M | 92.85M | 84.8M | 192.43M | -262.72M | 1.68B | 0 | 131.39M | 88.08M | 55.96M | 9.52M |
| Operating Income | 4.01B | 916.71M | 1.61B | 1.42B | 1.31B | 1.82B | 937.9M | 125.2M | 52M | -24.5M | 119.5M | 172.1M | -12.55M | 121.05M | 379.76M | -413.97M | 35.48M | -82.01M | 102.16M | -239.03M | -24.54M | 72M | -223.99M | 372.31M | -994.2M | -289.21M | -846.54M | -45.85M | -103.67M | -29.93M |
| Operating Margin % | 25.13% | 11.64% | 25.84% | 25.89% | 25.54% | 34.48% | 22.41% | 4.53% | 2.09% | -1.05% | 4.91% | 8.17% | -0.69% | 5.83% | 12.64% | -16.14% | 1.78% | -4.29% | 5.54% | -14.3% | -1.4% | 6.25% | -11.49% | 18.7% | -31.61% | -13.49% | -41.69% | -4.28% | -13.69% | -10.73% |
| Operating Income Growth % | - | -43.15% | 13.33% | 8.85% | -28.06% | 93.72% | 649.12% | 140.77% | 312.24% | -120.5% | -30.56% | 1471.64% | -110.37% | -68.13% | 191.74% | -1266.61% | 143.27% | -180.27% | 142.74% | -873.98% | -134.08% | 132.15% | -160.16% | 137.45% | -243.76% | 65.84% | -1746.24% | 55.77% | -246.37% | - |
| EBITDA | 4.91B | 1.38B | 1.92B | 1.69B | 1.62B | 2.11B | 1.26B | 360.6M | 265.6M | 201.8M | 299.7M | 373.3M | 147.45M | 264.81M | 500.62M | -283.05M | 232.49M | 17.21M | 172.07M | -61.09M | 163.57M | 192.14M | -39.05M | 453.37M | -837.49M | -176.74M | -715.15M | 42.23M | -47.71M | -20.41M |
| EBITDA Margin % | 30.79% | 17.46% | 30.8% | 30.68% | 31.64% | 40.12% | 30.12% | 13.06% | 10.66% | 8.62% | 12.32% | 17.73% | 8.15% | 12.75% | 16.66% | -11.03% | 11.68% | 0.9% | 9.33% | -3.65% | 9.33% | 16.68% | -2% | 22.78% | -26.63% | -8.24% | -35.22% | 3.94% | -6.3% | -7.32% |
| EBITDA Growth % | 50.92% | -28.4% | 13.95% | 4.12% | -23.39% | 67.69% | 249.61% | 35.77% | 31.62% | -32.67% | -19.72% | 153.17% | -44.32% | -47.1% | 276.86% | -221.75% | 1250.95% | -90% | 381.64% | -137.35% | -14.87% | 591.98% | -108.61% | 154.13% | -373.84% | 75.29% | -1793.37% | 188.51% | -133.8% | - |
| D&A (Non-Cash Add-back) | 901.98M | 459.2M | 309.2M | 263.7M | 312.6M | 297.2M | 322.8M | 235.4M | 213.6M | 226.3M | 180.2M | 201.2M | 160M | 143.77M | 120.85M | 130.92M | 197M | 99.22M | 69.91M | 177.94M | 188.11M | 120.14M | 184.93M | 81.06M | 156.71M | 112.47M | 131.39M | 88.08M | 55.96M | 9.52M |
| EBIT | 6.27B | 2.92B | 1.55B | 1.69B | 1.47B | 1.77B | 988.6M | 190.1M | 36.4M | -31M | 151.8M | 146.4M | 15.12M | 200.56M | 394.89M | -361.18M | 216.16M | 85.32M | 244.16M | -170.74M | -16.84M | -121.98M | -80.52M | 332.63M | -970.88M | -7.93M | -260.65M | -52.04M | -56.55M | -29.93M |
| Net Interest Income | 479.24M | 150.4M | 166.3M | 176.3M | 72.5M | 79M | 36.7M | -20.1M | -28M | -19.7M | -17.3M | -9.5M | -31.48M | -14.04M | 829K | 16.34M | 195.74M | 164.25M | -16.09M | -43.94M | -69.71M | -55.7M | -42.48M | 0 | 4.15M | -34.17M | 0 | 0 | 0 | -453.5K |
| Interest Income | 502.07M | 150.4M | 233.9M | 195.9M | 117.6M | 113.5M | 109.8M | 58.3M | 38.8M | 40M | 36.8M | 14.41M | 15.74M | 24.03M | 33.44M | 52.79M | 27.4M | 205.99M | 91.95M | 23.73M | 12.2M | 0 | 6.08M | 0 | 28.84M | 8.28M | 0 | 0 | 0 | 0 |
| Interest Expense | 22.83M | 0 | 67.6M | 70.4M | 72.9M | 58.9M | 68.8M | 78.4M | 58.4M | 52.2M | 47.5M | 49.6M | 52.3M | 41.98M | 17.71M | 10.62M | 15.7M | 41.74M | 108.04M | 67.66M | 81.91M | 55.7M | 48.55M | 0 | 24.68M | 42.45M | 0 | 0 | 0 | 453.5K |
| Other Income/Expense | 2.37B | 2.15B | 204.4M | 263.6M | 151M | 146.7M | 41M | -20.1M | -19.6M | -12.2M | -10.8M | -75.3M | -24.63M | -181.01M | -106.74M | 30.75M | 176.14M | 64.45M | -16.1M | -15.93M | 6.05M | -310.12M | -101.72M | 97.48M | 4.15M | -3.34M | -25.1M | 1.81M | 11.19M | 15.42M |
| Pretax Income | 6.41B | 3.07B | 1.82B | 1.69B | 1.46B | 1.96B | 978.9M | 105.1M | 32.4M | -36.7M | 108.8M | 96.8M | -37.17M | 145.04M | 395.5M | -383.23M | 211.6M | 82.24M | 86.07M | -254.96M | -18.49M | -186.7M | -200.59M | 469.79M | -990.05M | -292.56M | -871.64M | -44.04M | -92.48M | -14.51M |
| Pretax Margin % | 40.17% | 38.93% | 29.12% | 30.68% | 28.49% | 37.27% | 23.39% | 3.81% | 1.3% | -1.57% | 4.47% | 4.6% | -2.05% | 6.98% | 13.16% | -14.94% | 10.63% | 4.3% | 4.67% | -15.25% | -1.05% | -16.21% | -10.29% | 23.6% | -31.48% | -13.65% | -42.93% | -4.11% | -12.21% | -5.2% |
| Income Tax | 1.59B | 824.4M | 488.2M | 405M | 334.3M | 523.7M | 343.9M | 26.6M | 25.9M | -50.4M | 46.9M | 28.6M | 17.55M | 44.94M | 8.01M | 32.15M | 8.3M | -28.44M | -68.28M | -2.89M | 23.58M | 27.7M | 87.33M | 312.61M | -443.64M | -57.39M | -4.84M | 1.81M | 40.06M | -5.44M |
| Effective Tax Rate % | 24.83% | 26.88% | 26.87% | 24.02% | 22.93% | 26.67% | 35.13% | 25.31% | 79.94% | 137.33% | 43.11% | 29.55% | -47.2% | 30.99% | 2.03% | -8.39% | 3.92% | -34.59% | -79.34% | 1.13% | -127.52% | -14.84% | -43.54% | 66.54% | 44.81% | 19.62% | 0.56% | -4.11% | -43.31% | 37.5% |
| Net Income | 4.82B | 2.24B | 1.33B | 1.28B | 1.12B | 1.44B | 635M | 78.5M | 6.5M | 13.7M | 61.9M | 67.8M | -45.81M | 49.42M | 308.68M | -287.92M | 207.8M | 129.12M | 995.72M | -936.1M | -170.31M | -502.5M | -342.13M | 85.13M | -546.41M | -235.17M | -866.8M | -45.85M | -132.54M | -9.07M |
| Net Margin % | 30.2% | 28.47% | 21.29% | 23.31% | 21.96% | 27.33% | 15.17% | 2.84% | 0.26% | 0.59% | 2.54% | 3.22% | -2.53% | 2.38% | 10.27% | -11.22% | 10.44% | 6.76% | 54.02% | -55.99% | -9.71% | -43.62% | -17.55% | 4.28% | -17.37% | -10.97% | -42.69% | -4.28% | -17.5% | -3.25% |
| Net Income Growth % | 285.69% | 68.79% | 3.69% | 14.02% | -21.95% | 126.76% | 708.92% | 1107.69% | -52.55% | -77.87% | -8.7% | 248.01% | -192.69% | -83.99% | 207.21% | -238.55% | 60.93% | -87.03% | 206.37% | -449.64% | 66.11% | -46.87% | -501.87% | 115.58% | -132.35% | 72.87% | -1790.43% | 65.4% | -1361.26% | - |
| Net Income (Continuing) | 4.82B | 2.24B | 1.33B | 1.28B | 1.12B | 1.44B | 635M | 78.5M | 6.5M | 13.7M | 61.9M | 68.2M | -54.72M | 97.66M | 385.33M | -415.38M | 203.36M | 110.68M | 154.4M | -198.13M | -45.4M | -253.65M | -233.78M | 86.43M | -546.41M | -235.17M | -866.8M | -45.85M | -132.54M | -9.07M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -25.89M | 0 | -11.02M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 232.14M | 221.23M | 136.73M | -28.07M | 99.3M | 102.51M | 61.18M | 6.19M | 220.62M | 5.84M | 5.7M | 0 | 0 | 0 | 2.61M | 0 | 0 | 0 |
| EPS (Diluted) | 554.32 | 25.90 | 15.40 | 14.80 | 13.10 | 16.70 | 81.00 | 11.50 | 1.50 | 3.20 | 14.70 | 17.40 | -12.10 | 13.00 | 7.70 | -7.50 | 5.50 | 3.40 | 26.40 | -28.20 | -5.70 | -19.70 | -15.70 | 4.50 | -33.40 | -15.00 | -71.40 | -7.80 | -35.40 | -7.70 |
| EPS Growth % | 140.11% | 68.18% | 4.05% | 12.98% | -21.56% | -79.38% | 604.35% | 666.67% | -53.13% | -78.23% | -15.52% | 243.8% | -193.08% | 68.83% | 202.67% | -236.36% | 61.76% | -87.12% | 193.62% | -394.74% | 71.07% | -25.48% | -448.89% | 113.47% | -122.67% | 78.99% | -815.38% | 77.97% | -359.74% | - |
| EPS (Basic) | - | 26.00 | 15.40 | 14.90 | 13.10 | 16.80 | 82.50 | 11.80 | 1.50 | 3.20 | 14.70 | 17.40 | -12.10 | 13.00 | 7.70 | -7.50 | 5.50 | 3.40 | 26.40 | -28.20 | -5.70 | -19.70 | -15.70 | 4.50 | -34.20 | -17.50 | -83.20 | -7.80 | -35.40 | -7.70 |
| Diluted Shares Outstanding | 8.69M | 86.64M | 86.57M | 86.5M | 86.1M | 86.1M | 78.37M | 67.99M | 42.21M | 42.21M | 42.22M | 38.97M | 37.92M | 38M | 38.48M | 38.49M | 38.04M | 37.69M | 37.6M | 33.21M | 29.79M | 25.56M | 21.81M | 18.96M | 16.34M | 15.69M | 12.13M | 5.85M | 3.74M | 1.18M |
| Basic Shares Outstanding | 8.66M | 86.62M | 86.58M | 86.46M | 86.05M | 86.12M | 78.4M | 68.26M | 43.33M | 42.81M | 42.22M | 38.97M | 37.92M | 38.02M | 38.42M | 38.49M | 38.04M | 37.67M | 37.6M | 33.21M | 29.79M | 25.56M | 21.81M | 18.96M | 16M | 13.45M | 10.42M | 5.85M | 3.74M | 1.18M |
| Dividend Payout Ratio | - | 19.22% | 55.07% | 40.21% | 45.68% | 44.51% | 88.9% | - | 649.23% | 369.34% | 408.56% | 11.21% | - | 208.55% | 9.35% | - | 9.12% | 29.16% | - | - | - | - | - | - | - | - | - | - | - | - |
Operational dependency on electricity
According to the latest quarterly filings, DRDGOLD achieved a 26.6% revenue growth rate in 2026Q2, signaling a sustained acceleration from the 12.1% growth observed in 2024Q2, largely supported by favorable gold price tailwinds that have bolstered the top line across its primary reclamation operations.
The consistent upward trend in revenue suggests that the company is successfully leveraging its high-volume tailings processing model to capture market price volatility. Investors should monitor whether this growth remains sustainable if gold prices stabilize or if the recovered grade of tailings begins to show signs of structural decline.
As reported in financial statements, DRDGOLD's gross margin expanded to 48.2% in 2026Q2, a significant improvement from the 24.7% margin recorded in 2024Q2, reflecting the company's ability to maintain a lean cost structure while benefiting from the current gold price environment in the Witwatersrand Basin.
This margin expansion appears to be a function of operational efficiency rather than just price, as the company avoids the heavy overheads of deep-level mining. However, the reliance on energy-intensive hydraulic processes means that any future spikes in electricity tariffs could quickly compress these gains.
Based on the company's reported figures, operating income reached $2.2B in 2026Q2, demonstrating significant operating leverage as the company scales its reclamation activities without a proportional increase in fixed overheads, despite the historical volatility seen in previous periods like the negative operating income in 2025Q4.
The ability to convert gross profit into operating income at such high rates suggests that the company's fixed-cost base is well-managed. Analysts should investigate the 2025Q4 anomaly, which appears to be an outlier, to determine if there are hidden sensitivities to non-recurring operational disruptions.
Data from recent income statements indicates that net income reached $1.8B in 2026Q2, though the quality of these earnings warrants further investigation due to the historical fluctuations in EPS, which saw a sharp 80.2% decline in 2024Q4 before rebounding significantly in subsequent reporting periods.
The volatility in net income suggests that non-operating items or tax adjustments may be impacting the bottom line more than core operational performance. Investors should be cautious of the sustainability of these earnings given the company's exposure to currency fluctuations and the potential for future environmental rehabilitation provisions.
As indicated by the income statement data, SG&A expenses have remained relatively contained at $117.1M in 2026Q2, showing management's commitment to expense discipline even as the company scales its operations to meet the demands of its high-volume hydraulic reclamation business model across its primary sites.
While SG&A appears controlled, the primary cost risk remains the COGS line, which is heavily influenced by energy and water inputs. The company's investment in solar energy may eventually mitigate these costs, but the current structure remains vulnerable to regional utility instability.
Quick answers to the most common questions about buying DRD stock.
For fiscal year 2025, DRDGOLD Limited (DRD) reported total revenue of $7.88B. This represents a 2724.7% increase compared to $278.9M in 1997.
DRDGOLD Limited (DRD) is profitable, generating $2.24B in net income for the fiscal year ending 2025 with a net profit margin of 28.5%.
DRDGOLD Limited (DRD) reported an operating income of $916.7M, resulting in an operating profit margin of 11.6%. This margin reflects the operational efficiency of the business before interest and taxes.
DRDGOLD Limited (DRD) generated $3.13B in gross profit for the year, representing a gross profit margin of 39.7%. This demonstrates the company's core pricing power and production efficiency.