Harmony Gold Mining Company Limited (HMY) 10-Year Financial Performance & Capital Metrics

HMY • • Industrial / General

Basic MaterialsGoldMajor Gold ProducersRegional Gold Producers

AboutHarmony Gold Mining Company Limited engages in the exploration, extraction, and processing of gold. It also explores for uranium, silver, copper, and molybdenum deposits. The company has nine underground operations in the Witwatersrand Basin; an open-pit mine on the Kraaipan Greenstone Belt; and various surface treatment operations in South Africa. It also owns interests in the Hidden Valley, an open-pit gold and silver mine; and Wafi-Golpu, a project in Morobe Province in Papua New Guinea. The company was incorporated in 1950 and is headquartered in Randfontein, South Africa.Show more

Revenue $73.9B +20.4%
EBITDA $25.2B +54.4%
Net Income $14.38B +67.5%
EPS (Diluted) 22.88 +67.7%
Gross Margin 39.65% +72.1%
EBITDA Margin 34.1% +28.3%
Operating Margin 27.55% +44.8%
Net Margin 19.47% +39.1%
ROE 32.16% +42.0%
ROIC 40.08% +75.7%
Debt/Equity 0.05 -17.9%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Excellent 3Y average ROE of 23.2%
✓Strong Piotroski F-Score: 8/9
✓Momentum leader: RS Rating 84 (top 16%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 20.4%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y16.15%

5Y20.37%

3Y20.11%

TTM56.44%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM176.91%

EPS CAGR

10Y-

5Y-

3Y-

TTM174.46%

ROCE

10Y Avg6.83%

5Y Avg17.63%

3Y Avg24.65%

Latest35.32%

Peer Comparison

Regional Gold Producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GFIGold Fields Limited	44.61B	49.84	36.12	15.57%	23.24%	40.64%	1.59%	0.55
HMYHarmony Gold Mining Company Limited	13.71B	21.95	0.96	20.39%	16.98%	47.35%	78.72%	0.05
SBSWSibanye Stillwater Limited	12.19B	17.23	-1.67	-1.37%	-25.49%	-126.47%		0.87

Profit & Loss

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Sales/Revenue+	18.69B	18.43B	21.85B	26.93B	29.25B	41.73B	42.65B	49.27B	61.38B	73.9B
Revenue Growth %	0.13%	-0.01%	0.19%	0.23%	0.09%	0.43%	0.02%	0.16%	0.25%	0.2%
Cost of Goods Sold+	16.12B	18.85B	24.83B	28.9B	25.91B	35.66B	41.93B	39.53B	47.23B	44.59B
COGS % of Revenue	0.86%	1.02%	1.14%	1.07%	0.89%	0.85%	0.98%	0.8%	0.77%	0.6%
Gross Profit+	2.57B	-416.5M	-2.98B	-1.97B	3.34B	6.08B	718M	9.74B	14.15B	29.3B
Gross Margin %	0.14%	-0.02%	-0.14%	-0.07%	0.11%	0.15%	0.02%	0.2%	0.23%	0.4%
Gross Profit Growth %	1.66%	-1.16%	-6.16%	0.34%	2.69%	0.82%	-0.88%	12.57%	0.45%	1.07%
Operating Expenses+	709.85M	1.61B	1.09B	1.06B	1.03B	5.13B	9.81B	2.65B	2.47B	8.95B
OpEx % of Revenue	0.04%	0.09%	0.05%	0.04%	0.04%	0.12%	0.23%	0.05%	0.04%	0.12%
Selling, General & Admin	414.08M	494.6M	869.21M	737.77M	611M	1.25B	984M	1.55B	1.29B	2.56B
SG&A % of Revenue	0.02%	0.03%	0.04%	0.03%	0.02%	0.03%	0.02%	0.03%	0.02%	0.03%
Research & Development	0	0	0	0	288.03K	0	0	0	0	0
R&D % of Revenue	-	-	-	-	0%	-	-	-	-	-
Other Operating Expenses	295.77M	1.12B	151.77M	232M	415.71M	3.88B	8.82B	1.1B	1.18B	6.38B
Operating Income+	1.61B	-1.05B	-4.62B	-2.55B	-358M	6.45B	-755M	7.09B	11.68B	20.36B
Operating Margin %	0.09%	-0.06%	-0.21%	-0.09%	-0.01%	0.15%	-0.02%	0.14%	0.19%	0.28%
Operating Income Growth %	1.29%	-1.65%	-3.38%	0.45%	0.86%	19.02%	-1.12%	10.4%	0.65%	0.74%
EBITDA+	3.82B	1.35B	-1.86B	1.5B	3.2B	10.33B	2.93B	10.55B	16.32B	25.2B
EBITDA Margin %	0.2%	0.07%	-0.09%	0.06%	0.11%	0.25%	0.07%	0.21%	0.27%	0.34%
EBITDA Growth %	2.33%	-0.65%	-2.38%	1.81%	1.13%	2.23%	-0.72%	2.6%	0.55%	0.54%
D&A (Non-Cash Add-back)	2.2B	2.41B	2.76B	4.05B	3.56B	3.88B	3.68B	3.45B	4.64B	4.84B
EBIT	1.89B	86M	-4.38B	-2.17B	66M	7.04B	-340M	7.6B	11.88B	21.42B
Net Interest Income+	-44.37M	30M	-58M	-331M	-404M	-396M	-442M	-569M	-106M	806M
Interest Income	0	0	272M	244M	230.43K	265M	276M	425M	690M	806M
Interest Expense	280.98M	221.27M	330M	581.7M	661M	661M	718M	994M	796M	0
Other Income/Expense	-29.58M	906.28M	-17.15M	-208M	-237M	-68M	-303M	-488M	94M	849M
Pretax Income+	1.6B	-260.31M	-4.68B	-2.77B	-595M	6.38B	-1.06B	6.61B	11.77B	21.21B
Pretax Margin %	0.09%	-0.01%	-0.21%	-0.1%	-0.02%	0.15%	-0.02%	0.13%	0.19%	0.29%
Income Tax+	650.69M	-481.58M	-248.34M	-141.88M	255M	1.26B	-46M	1.72B	3.08B	6.66B
Effective Tax Rate %	0.59%	-0.85%	0.95%	0.95%	1.48%	0.8%	0.99%	0.73%	0.73%	0.68%
Net Income+	946.47M	221.27M	-4.43B	-2.62B	-878M	5.09B	-1.05B	4.82B	8.59B	14.38B
Net Margin %	0.05%	0.01%	-0.2%	-0.1%	-0.03%	0.12%	-0.02%	0.1%	0.14%	0.19%
Net Income Growth %	1.19%	-0.77%	-21.02%	0.41%	0.67%	6.79%	-1.21%	5.58%	0.78%	0.68%
Net Income (Continuing)	976.04M	362M	-4.47B	-2.61B	-850M	5.12B	-1.01B	4.88B	8.69B	14.55B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	4M	54M	78M	123M	175M	277M
EPS (Diluted)+	2.22	0.79	-9.52	-5.01	-1.64	8.25	-1.72	7.77	13.64	22.88
EPS Growth %	1.2%	-0.64%	-13.05%	0.47%	0.67%	6.03%	-1.21%	5.52%	0.76%	0.68%
EPS (Basic)	2.22	0.82	-9.93	-5.01	-1.64	8.42	-1.72	7.80	13.86	23.13
Diluted Shares Outstanding	446.4M	459.22M	465.32M	523.81M	535.34M	616.38M	612.46M	620.47M	629.69M	629M
Basic Shares Outstanding	435.7M	438.44M	445.9M	523.81M	535.34M	604.29M	612.46M	617.6M	619.44M	628.67M
Dividend Payout Ratio	-	1.98%	-	-	-	0.13%	-	0.03%	0.17%	0.14%

Balance Sheet

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Total Current Assets+	3.46B	4.88B	4.18B	4.38B	10.17B	8.55B	7.49B	8.68B	11.5B	21.31B
Cash & Short-Term Investments	1.26B	1.24B	703.64M	993.15M	6.36B	2.82B	2.45B	2.87B	4.73B	13.1B
Cash Only	1.26B	1.24B	703.64M	993.15M	6.36B	2.82B	2.45B	2.87B	4.69B	13.1B
Short-Term Investments	0	0	0	0	0	0	0	0	39M	0
Accounts Receivable	16.3M	32.1M	44.11M	43.3M	1.23B	115.63M	103.38M	2.21B	2.25B	4B
Days Sales Outstanding	0.32	0.64	0.74	0.59	15.34	1.01	0.88	16.34	13.37	19.77
Inventory	1.17B	1.12B	1.75B	1.97B	2.42B	2.54B	2.82B	3.27B	3.6B	3.83B
Days Inventory Outstanding	26.45	21.68	25.75	24.91	34.11	26.02	24.53	30.14	27.84	31.31
Other Current Assets	384.5M	1.54B	577M	353M	159M	1.54B	546M	151M	558M	378M
Total Non-Current Assets+	33.73B	33.72B	35.31B	32.5B	34.53B	40.95B	39.31B	48.56B	48.96B	56.2B
Property, Plant & Equipment	30.07B	29.83B	30.97B	27.86B	29.19B	34.37B	32.87B	41.51B	41.35B	48.27B
Fixed Asset Turnover	0.62x	0.62x	0.71x	0.97x	1.00x	1.21x	1.30x	1.19x	1.48x	1.53x
Goodwill	842.95M	585.71M	496.69M	520M	520M	333M	0	0	0	0
Intangible Assets	29.58M	13.02M	13.8M	13M	16M	32M	48M	33M	19M	6M
Long-Term Investments	2.51B	52.06M	82.78M	113.5M	146M	126M	125M	111M	253M	197M
Other Non-Current Assets	2.62B	2.75B	3.41B	3.79B	4.13B	5.89B	6.07B	6.72B	7.2B	7.72B
Total Assets+	37.19B	38.6B	39.49B	36.89B	44.69B	49.5B	46.81B	57.24B	60.46B	77.5B
Asset Turnover	0.50x	0.48x	0.55x	0.73x	0.65x	0.84x	0.91x	0.86x	1.02x	0.95x
Asset Growth %	0.02%	0.04%	0.02%	-0.07%	0.21%	0.11%	-0.05%	0.22%	0.06%	0.28%
Total Current Liabilities+	2.04B	3.81B	3.63B	3.25B	7.56B	5.76B	4.97B	6.87B	10.31B	12.39B
Accounts Payable	354.92M	520.63M	587M	763M	706M	1.27B	1.27B	1.21B	1.14B	6.72B
Days Payables Outstanding	8.04	10.08	8.63	9.64	9.95	12.99	11.02	11.13	8.79	55.04
Short-Term Debt	295.77M	1.82B	739.51M	85.13M	255M	387M	25M	103M	9M	59M
Deferred Revenue (Current)	-1000K	1000K	1000K	0	1000K	1000K	1000K	1000K	1000K	0
Other Current Liabilities	428.87M	481.58M	871.07M	995.88M	5.75B	1.54B	2.09B	2.68B	3.9B	5.61B
Current Ratio	1.70x	1.28x	1.15x	1.35x	1.34x	1.49x	1.51x	1.26x	1.12x	1.72x
Quick Ratio	1.12x	0.99x	0.67x	0.74x	1.02x	1.04x	0.94x	0.79x	0.77x	1.41x
Cash Conversion Cycle	18.74	12.23	17.86	15.86	39.5	14.04	14.4	35.36	32.42	-3.96
Total Non-Current Liabilities+	6.85B	5.71B	10.54B	10.94B	13.76B	12.06B	11.72B	15.49B	12.15B	16.6B
Long-Term Debt	2.06B	299.36M	4.93B	5.86B	7.46B	2.97B	3.18B	5.59B	1.78B	1.89B
Capital Lease Obligations	0	0	0	0	0	0	245M	310M	246M	276M
Deferred Tax Liabilities	2.43B	1.69B	1.15B	695.2M	996M	2.2B	1.59B	2.29B	2.95B	0
Other Non-Current Liabilities	14.79M	13.02M	41.39M	5M	101M	6.19B	6.33B	7.19B	7.17B	14.43B
Total Liabilities	8.89B	9.53B	14.17B	14.19B	21.32B	17.82B	16.69B	22.36B	19.51B	28.99B
Total Debt+	2.35B	2.12B	5.67B	5.94B	7.72B	3.36B	3.65B	6.22B	2.29B	2.23B
Net Debt	1.09B	885.07M	4.96B	4.95B	1.36B	542M	1.2B	2.83B	-2.4B	-10.87B
Debt / Equity	0.08x	0.07x	0.22x	0.26x	0.33x	0.11x	0.12x	0.18x	0.06x	0.05x
Debt / EBITDA	0.62x	1.57x	-	3.96x	2.41x	0.33x	1.25x	0.59x	0.14x	0.09x
Net Debt / EBITDA	0.29x	0.65x	-	3.30x	0.43x	0.05x	0.41x	0.27x	-0.15x	-0.43x
Interest Coverage	5.74x	-4.76x	-14.01x	-4.39x	-0.54x	9.76x	-1.05x	7.14x	14.67x	-
Total Equity+	28.31B	29.08B	25.32B	22.7B	23.38B	31.68B	30.12B	34.88B	40.95B	48.51B
Equity Growth %	0.05%	0.03%	-0.13%	-0.1%	0.03%	0.36%	-0.05%	0.16%	0.17%	0.18%
Book Value per Share	63.41	63.32	54.41	43.34	43.66	51.40	49.17	56.22	65.03	77.13
Total Shareholders' Equity	28.31B	29.08B	25.32B	22.7B	23.37B	31.63B	30.04B	34.76B	40.77B	48.23B
Common Stock	28.47B	52.53B	56.77B	29.67B	32.94B	32.93B	32.93B	32.93B	32.93B	32.93B
Retained Earnings	-4.44B	-7.12B	-12.11B	-11.76B	-12.58B	-7.71B	-9.64B	-4.96B	2.24B	14.58B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	4.27B	-16.33B	-19.34B	4.8B	3.02B	6.4B	6.74B	6.78B	6.08B	717M
Minority Interest	0	0	0	0	4M	54M	78M	123M	175M	277M

Cash Flow

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	4.6B	3.64B	4.18B	4.68B	272.08M	9.18B	6.92B	9.95B	15.65B	22.65B
Operating CF Margin %	0.25%	0.2%	0.19%	0.17%	0.01%	0.22%	0.16%	0.2%	0.25%	0.31%
Operating CF Growth %	-0.81%	-0.21%	0.15%	0.12%	-0.94%	32.74%	-0.25%	0.44%	0.57%	0.45%
Net Income	1.61B	-260.31M	-4.68B	-2.75B	-595M	6.38B	-1.06B	6.61B	8.59B	14.38B
Depreciation & Amortization	2.2B	2.41B	2.76B	4.05B	3.51B	3.88B	3.68B	3.45B	4.64B	4.84B
Stock-Based Compensation	340.14M	377.46M	386.31M	230M	180M	160M	145M	112M	250M	699M
Deferred Taxes	-4.57B	1.86B	6.11B	-1.9B	-2.39B	-11.57B	-3.06B	-10.5B	0	0
Other Non-Cash Items	4.75B	-481.58M	-262.14M	5.05B	120.57M	9.74B	7.38B	10.59B	2.14B	4.24B
Working Capital Changes	266.19M	-260.31M	-137.97M	-2M	-548M	591M	-159M	-317M	24M	-1.51B
Change in Receivables	177.46M	-390.47M	-110.38M	32M	-20.1M	-23.73M	1.29M	-33.31M	-258M	-1.24B
Change in Inventory	73.94M	26.03M	-427.7M	-88M	-150M	-37M	-232M	-308M	-50M	-273M
Change in Payables	14.79M	104.13M	400.11M	54M	-49M	967M	52M	618M	332M	0
Cash from Investing+	-2.66B	-3.24B	-9.08B	-4.81B	-204.96M	-8.46B	-6.2B	-10.6B	-8.37B	-11.96B
Capital Expenditures	-2.48B	-3.72B	-4.91B	-5.04B	-207.96M	-5.14B	-6.21B	-7.64B	-8.4B	-11.86B
CapEx % of Revenue	0.13%	0.2%	0.22%	0.19%	0.01%	0.12%	0.15%	0.16%	0.14%	0.16%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-221.83M	52.06M	-27.59M	-5.37M	-99M	-17M	65M	120M	-71M	-100M
Cash from Financing+	-1.77B	-377.46M	4.42B	383.07M	248M	-4.3B	-1.15B	1.19B	-5.43B	-2.21B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	-429.52M	-165.56M	0	-3M	-677M	-430M	-154M	-1.44B	-2.06B
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	415.61M	3.67B	0	251M	-12M	0	0	-246M	-43M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	2.11B	-78.09M	-731.24M	-354.7M	64.12M	4.04B	710M	2.31B	7.25B	10.79B
FCF Margin %	0.11%	-0%	-0.03%	-0.01%	0%	0.1%	0.02%	0.05%	0.12%	0.15%
FCF Growth %	1.21%	-1.04%	-8.36%	0.51%	1.18%	61.96%	-0.82%	2.25%	2.14%	0.49%
FCF per Share	4.74	-0.17	-1.57	-0.68	0.12	6.55	1.16	3.72	11.52	17.16
FCF Conversion (FCF/Net Income)	4.86x	16.47x	-0.94x	-1.78x	-0.31x	1.80x	-6.58x	2.06x	1.82x	1.57x
Interest Paid	0	0	0	0	0	0	0	0	0	258M
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	3.42%	0.77%	-16.28%	-10.93%	-3.81%	18.48%	-3.4%	14.83%	22.65%	32.16%
Return on Invested Capital (ROIC)	4.12%	-2.66%	-11.51%	-6.61%	-1.03%	16.99%	-1.78%	15.3%	22.81%	40.08%
Gross Margin	13.77%	-2.26%	-13.64%	-7.32%	11.41%	14.56%	1.68%	19.77%	23.05%	39.65%
Net Margin	5.06%	1.2%	-20.27%	-9.75%	-3%	12.19%	-2.47%	9.78%	13.99%	19.47%
Debt / Equity	0.08x	0.07x	0.22x	0.26x	0.33x	0.11x	0.12x	0.18x	0.06x	0.05x
Interest Coverage	5.74x	-4.76x	-14.01x	-4.39x	-0.54x	9.76x	-1.05x	7.14x	14.67x	-
FCF Conversion	4.86x	16.47x	-0.94x	-1.78x	-0.31x	1.80x	-6.58x	2.06x	1.82x	1.57x
Revenue Growth	13.03%	-1.4%	18.58%	23.22%	8.6%	42.7%	2.19%	15.55%	24.56%	20.39%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
commodities	-	-	-	-	48.69B	61.74B
commodities Growth	-	-	-	-	-	26.81%
Silver	589M	839M	857M	663M	1.02B	1.67B
Silver Growth	-	42.44%	2.15%	-22.64%	54.00%	63.27%
Uranium	177M	99M	178M	240M	304M	866M
Uranium Growth	-	-44.07%	79.80%	34.83%	26.67%	184.87%
Gold	25.69B	29.7B	42.6B	40.77B	47.37B	-
Gold Growth	-	15.61%	43.40%	-4.28%	16.17%	-

Frequently Asked Questions

Valuation & Price

Harmony Gold Mining Company Limited (HMY) has a price-to-earnings (P/E) ratio of 1.0x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Harmony Gold Mining Company Limited (HMY) reported $135.28B in revenue for fiscal year 2025. This represents a 748% increase from $15.96B in 2012.

Harmony Gold Mining Company Limited (HMY) grew revenue by 20.4% over the past year. This is strong growth.

Yes, Harmony Gold Mining Company Limited (HMY) is profitable, generating $22.97B in net income for fiscal year 2025 (19.5% net margin).

Dividend & Returns

Yes, Harmony Gold Mining Company Limited (HMY) pays a dividend with a yield of 14.90%. This makes it attractive for income-focused investors.

Harmony Gold Mining Company Limited (HMY) has a return on equity (ROE) of 32.2%. This is excellent, indicating efficient use of shareholder capital.

Harmony Gold Mining Company Limited (HMY) generated $18.04B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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Harmony Gold Mining Company Limited (HMY) 10-Year Financial Performance & Capital Metrics

HMY • • Industrial / General

Basic MaterialsGoldMajor Gold ProducersRegional Gold Producers

Revenue $73.9B +20.4%
EBITDA $25.2B +54.4%
Net Income $14.38B +67.5%
EPS (Diluted) 22.88 +67.7%
Gross Margin 39.65% +72.1%
EBITDA Margin 34.1% +28.3%
Operating Margin 27.55% +44.8%
Net Margin 19.47% +39.1%
ROE 32.16% +42.0%
ROIC 40.08% +75.7%
Debt/Equity 0.05 -17.9%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Excellent 3Y average ROE of 23.2%
✓Strong Piotroski F-Score: 8/9
✓Momentum leader: RS Rating 84 (top 16%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 20.4%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y16.15%

5Y20.37%

3Y20.11%

TTM56.44%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM176.91%

EPS CAGR

10Y-

5Y-

3Y-

TTM174.46%

ROCE

10Y Avg6.83%

5Y Avg17.63%

3Y Avg24.65%

Latest35.32%

Peer Comparison

Regional Gold Producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GFIGold Fields Limited	44.61B	49.84	36.12	15.57%	23.24%	40.64%	1.59%	0.55
HMYHarmony Gold Mining Company Limited	13.71B	21.95	0.96	20.39%	16.98%	47.35%	78.72%	0.05
SBSWSibanye Stillwater Limited	12.19B	17.23	-1.67	-1.37%	-25.49%	-126.47%		0.87

Profit & Loss

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Sales/Revenue+	18.69B	18.43B	21.85B	26.93B	29.25B	41.73B	42.65B	49.27B	61.38B	73.9B
Revenue Growth %	0.13%	-0.01%	0.19%	0.23%	0.09%	0.43%	0.02%	0.16%	0.25%	0.2%
Cost of Goods Sold+	16.12B	18.85B	24.83B	28.9B	25.91B	35.66B	41.93B	39.53B	47.23B	44.59B
COGS % of Revenue	0.86%	1.02%	1.14%	1.07%	0.89%	0.85%	0.98%	0.8%	0.77%	0.6%
Gross Profit+	2.57B	-416.5M	-2.98B	-1.97B	3.34B	6.08B	718M	9.74B	14.15B	29.3B
Gross Margin %	0.14%	-0.02%	-0.14%	-0.07%	0.11%	0.15%	0.02%	0.2%	0.23%	0.4%
Gross Profit Growth %	1.66%	-1.16%	-6.16%	0.34%	2.69%	0.82%	-0.88%	12.57%	0.45%	1.07%
Operating Expenses+	709.85M	1.61B	1.09B	1.06B	1.03B	5.13B	9.81B	2.65B	2.47B	8.95B
OpEx % of Revenue	0.04%	0.09%	0.05%	0.04%	0.04%	0.12%	0.23%	0.05%	0.04%	0.12%
Selling, General & Admin	414.08M	494.6M	869.21M	737.77M	611M	1.25B	984M	1.55B	1.29B	2.56B
SG&A % of Revenue	0.02%	0.03%	0.04%	0.03%	0.02%	0.03%	0.02%	0.03%	0.02%	0.03%
Research & Development	0	0	0	0	288.03K	0	0	0	0	0
R&D % of Revenue	-	-	-	-	0%	-	-	-	-	-
Other Operating Expenses	295.77M	1.12B	151.77M	232M	415.71M	3.88B	8.82B	1.1B	1.18B	6.38B
Operating Income+	1.61B	-1.05B	-4.62B	-2.55B	-358M	6.45B	-755M	7.09B	11.68B	20.36B
Operating Margin %	0.09%	-0.06%	-0.21%	-0.09%	-0.01%	0.15%	-0.02%	0.14%	0.19%	0.28%
Operating Income Growth %	1.29%	-1.65%	-3.38%	0.45%	0.86%	19.02%	-1.12%	10.4%	0.65%	0.74%
EBITDA+	3.82B	1.35B	-1.86B	1.5B	3.2B	10.33B	2.93B	10.55B	16.32B	25.2B
EBITDA Margin %	0.2%	0.07%	-0.09%	0.06%	0.11%	0.25%	0.07%	0.21%	0.27%	0.34%
EBITDA Growth %	2.33%	-0.65%	-2.38%	1.81%	1.13%	2.23%	-0.72%	2.6%	0.55%	0.54%
D&A (Non-Cash Add-back)	2.2B	2.41B	2.76B	4.05B	3.56B	3.88B	3.68B	3.45B	4.64B	4.84B
EBIT	1.89B	86M	-4.38B	-2.17B	66M	7.04B	-340M	7.6B	11.88B	21.42B
Net Interest Income+	-44.37M	30M	-58M	-331M	-404M	-396M	-442M	-569M	-106M	806M
Interest Income	0	0	272M	244M	230.43K	265M	276M	425M	690M	806M
Interest Expense	280.98M	221.27M	330M	581.7M	661M	661M	718M	994M	796M	0
Other Income/Expense	-29.58M	906.28M	-17.15M	-208M	-237M	-68M	-303M	-488M	94M	849M
Pretax Income+	1.6B	-260.31M	-4.68B	-2.77B	-595M	6.38B	-1.06B	6.61B	11.77B	21.21B
Pretax Margin %	0.09%	-0.01%	-0.21%	-0.1%	-0.02%	0.15%	-0.02%	0.13%	0.19%	0.29%
Income Tax+	650.69M	-481.58M	-248.34M	-141.88M	255M	1.26B	-46M	1.72B	3.08B	6.66B
Effective Tax Rate %	0.59%	-0.85%	0.95%	0.95%	1.48%	0.8%	0.99%	0.73%	0.73%	0.68%
Net Income+	946.47M	221.27M	-4.43B	-2.62B	-878M	5.09B	-1.05B	4.82B	8.59B	14.38B
Net Margin %	0.05%	0.01%	-0.2%	-0.1%	-0.03%	0.12%	-0.02%	0.1%	0.14%	0.19%
Net Income Growth %	1.19%	-0.77%	-21.02%	0.41%	0.67%	6.79%	-1.21%	5.58%	0.78%	0.68%
Net Income (Continuing)	976.04M	362M	-4.47B	-2.61B	-850M	5.12B	-1.01B	4.88B	8.69B	14.55B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	4M	54M	78M	123M	175M	277M
EPS (Diluted)+	2.22	0.79	-9.52	-5.01	-1.64	8.25	-1.72	7.77	13.64	22.88
EPS Growth %	1.2%	-0.64%	-13.05%	0.47%	0.67%	6.03%	-1.21%	5.52%	0.76%	0.68%
EPS (Basic)	2.22	0.82	-9.93	-5.01	-1.64	8.42	-1.72	7.80	13.86	23.13
Diluted Shares Outstanding	446.4M	459.22M	465.32M	523.81M	535.34M	616.38M	612.46M	620.47M	629.69M	629M
Basic Shares Outstanding	435.7M	438.44M	445.9M	523.81M	535.34M	604.29M	612.46M	617.6M	619.44M	628.67M
Dividend Payout Ratio	-	1.98%	-	-	-	0.13%	-	0.03%	0.17%	0.14%

Balance Sheet

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Total Current Assets+	3.46B	4.88B	4.18B	4.38B	10.17B	8.55B	7.49B	8.68B	11.5B	21.31B
Cash & Short-Term Investments	1.26B	1.24B	703.64M	993.15M	6.36B	2.82B	2.45B	2.87B	4.73B	13.1B
Cash Only	1.26B	1.24B	703.64M	993.15M	6.36B	2.82B	2.45B	2.87B	4.69B	13.1B
Short-Term Investments	0	0	0	0	0	0	0	0	39M	0
Accounts Receivable	16.3M	32.1M	44.11M	43.3M	1.23B	115.63M	103.38M	2.21B	2.25B	4B
Days Sales Outstanding	0.32	0.64	0.74	0.59	15.34	1.01	0.88	16.34	13.37	19.77
Inventory	1.17B	1.12B	1.75B	1.97B	2.42B	2.54B	2.82B	3.27B	3.6B	3.83B
Days Inventory Outstanding	26.45	21.68	25.75	24.91	34.11	26.02	24.53	30.14	27.84	31.31
Other Current Assets	384.5M	1.54B	577M	353M	159M	1.54B	546M	151M	558M	378M
Total Non-Current Assets+	33.73B	33.72B	35.31B	32.5B	34.53B	40.95B	39.31B	48.56B	48.96B	56.2B
Property, Plant & Equipment	30.07B	29.83B	30.97B	27.86B	29.19B	34.37B	32.87B	41.51B	41.35B	48.27B
Fixed Asset Turnover	0.62x	0.62x	0.71x	0.97x	1.00x	1.21x	1.30x	1.19x	1.48x	1.53x
Goodwill	842.95M	585.71M	496.69M	520M	520M	333M	0	0	0	0
Intangible Assets	29.58M	13.02M	13.8M	13M	16M	32M	48M	33M	19M	6M
Long-Term Investments	2.51B	52.06M	82.78M	113.5M	146M	126M	125M	111M	253M	197M
Other Non-Current Assets	2.62B	2.75B	3.41B	3.79B	4.13B	5.89B	6.07B	6.72B	7.2B	7.72B
Total Assets+	37.19B	38.6B	39.49B	36.89B	44.69B	49.5B	46.81B	57.24B	60.46B	77.5B
Asset Turnover	0.50x	0.48x	0.55x	0.73x	0.65x	0.84x	0.91x	0.86x	1.02x	0.95x
Asset Growth %	0.02%	0.04%	0.02%	-0.07%	0.21%	0.11%	-0.05%	0.22%	0.06%	0.28%
Total Current Liabilities+	2.04B	3.81B	3.63B	3.25B	7.56B	5.76B	4.97B	6.87B	10.31B	12.39B
Accounts Payable	354.92M	520.63M	587M	763M	706M	1.27B	1.27B	1.21B	1.14B	6.72B
Days Payables Outstanding	8.04	10.08	8.63	9.64	9.95	12.99	11.02	11.13	8.79	55.04
Short-Term Debt	295.77M	1.82B	739.51M	85.13M	255M	387M	25M	103M	9M	59M
Deferred Revenue (Current)	-1000K	1000K	1000K	0	1000K	1000K	1000K	1000K	1000K	0
Other Current Liabilities	428.87M	481.58M	871.07M	995.88M	5.75B	1.54B	2.09B	2.68B	3.9B	5.61B
Current Ratio	1.70x	1.28x	1.15x	1.35x	1.34x	1.49x	1.51x	1.26x	1.12x	1.72x
Quick Ratio	1.12x	0.99x	0.67x	0.74x	1.02x	1.04x	0.94x	0.79x	0.77x	1.41x
Cash Conversion Cycle	18.74	12.23	17.86	15.86	39.5	14.04	14.4	35.36	32.42	-3.96
Total Non-Current Liabilities+	6.85B	5.71B	10.54B	10.94B	13.76B	12.06B	11.72B	15.49B	12.15B	16.6B
Long-Term Debt	2.06B	299.36M	4.93B	5.86B	7.46B	2.97B	3.18B	5.59B	1.78B	1.89B
Capital Lease Obligations	0	0	0	0	0	0	245M	310M	246M	276M
Deferred Tax Liabilities	2.43B	1.69B	1.15B	695.2M	996M	2.2B	1.59B	2.29B	2.95B	0
Other Non-Current Liabilities	14.79M	13.02M	41.39M	5M	101M	6.19B	6.33B	7.19B	7.17B	14.43B
Total Liabilities	8.89B	9.53B	14.17B	14.19B	21.32B	17.82B	16.69B	22.36B	19.51B	28.99B
Total Debt+	2.35B	2.12B	5.67B	5.94B	7.72B	3.36B	3.65B	6.22B	2.29B	2.23B
Net Debt	1.09B	885.07M	4.96B	4.95B	1.36B	542M	1.2B	2.83B	-2.4B	-10.87B
Debt / Equity	0.08x	0.07x	0.22x	0.26x	0.33x	0.11x	0.12x	0.18x	0.06x	0.05x
Debt / EBITDA	0.62x	1.57x	-	3.96x	2.41x	0.33x	1.25x	0.59x	0.14x	0.09x
Net Debt / EBITDA	0.29x	0.65x	-	3.30x	0.43x	0.05x	0.41x	0.27x	-0.15x	-0.43x
Interest Coverage	5.74x	-4.76x	-14.01x	-4.39x	-0.54x	9.76x	-1.05x	7.14x	14.67x	-
Total Equity+	28.31B	29.08B	25.32B	22.7B	23.38B	31.68B	30.12B	34.88B	40.95B	48.51B
Equity Growth %	0.05%	0.03%	-0.13%	-0.1%	0.03%	0.36%	-0.05%	0.16%	0.17%	0.18%
Book Value per Share	63.41	63.32	54.41	43.34	43.66	51.40	49.17	56.22	65.03	77.13
Total Shareholders' Equity	28.31B	29.08B	25.32B	22.7B	23.37B	31.63B	30.04B	34.76B	40.77B	48.23B
Common Stock	28.47B	52.53B	56.77B	29.67B	32.94B	32.93B	32.93B	32.93B	32.93B	32.93B
Retained Earnings	-4.44B	-7.12B	-12.11B	-11.76B	-12.58B	-7.71B	-9.64B	-4.96B	2.24B	14.58B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	4.27B	-16.33B	-19.34B	4.8B	3.02B	6.4B	6.74B	6.78B	6.08B	717M
Minority Interest	0	0	0	0	4M	54M	78M	123M	175M	277M

Cash Flow

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	4.6B	3.64B	4.18B	4.68B	272.08M	9.18B	6.92B	9.95B	15.65B	22.65B
Operating CF Margin %	0.25%	0.2%	0.19%	0.17%	0.01%	0.22%	0.16%	0.2%	0.25%	0.31%
Operating CF Growth %	-0.81%	-0.21%	0.15%	0.12%	-0.94%	32.74%	-0.25%	0.44%	0.57%	0.45%
Net Income	1.61B	-260.31M	-4.68B	-2.75B	-595M	6.38B	-1.06B	6.61B	8.59B	14.38B
Depreciation & Amortization	2.2B	2.41B	2.76B	4.05B	3.51B	3.88B	3.68B	3.45B	4.64B	4.84B
Stock-Based Compensation	340.14M	377.46M	386.31M	230M	180M	160M	145M	112M	250M	699M
Deferred Taxes	-4.57B	1.86B	6.11B	-1.9B	-2.39B	-11.57B	-3.06B	-10.5B	0	0
Other Non-Cash Items	4.75B	-481.58M	-262.14M	5.05B	120.57M	9.74B	7.38B	10.59B	2.14B	4.24B
Working Capital Changes	266.19M	-260.31M	-137.97M	-2M	-548M	591M	-159M	-317M	24M	-1.51B
Change in Receivables	177.46M	-390.47M	-110.38M	32M	-20.1M	-23.73M	1.29M	-33.31M	-258M	-1.24B
Change in Inventory	73.94M	26.03M	-427.7M	-88M	-150M	-37M	-232M	-308M	-50M	-273M
Change in Payables	14.79M	104.13M	400.11M	54M	-49M	967M	52M	618M	332M	0
Cash from Investing+	-2.66B	-3.24B	-9.08B	-4.81B	-204.96M	-8.46B	-6.2B	-10.6B	-8.37B	-11.96B
Capital Expenditures	-2.48B	-3.72B	-4.91B	-5.04B	-207.96M	-5.14B	-6.21B	-7.64B	-8.4B	-11.86B
CapEx % of Revenue	0.13%	0.2%	0.22%	0.19%	0.01%	0.12%	0.15%	0.16%	0.14%	0.16%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-221.83M	52.06M	-27.59M	-5.37M	-99M	-17M	65M	120M	-71M	-100M
Cash from Financing+	-1.77B	-377.46M	4.42B	383.07M	248M	-4.3B	-1.15B	1.19B	-5.43B	-2.21B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	-429.52M	-165.56M	0	-3M	-677M	-430M	-154M	-1.44B	-2.06B
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	415.61M	3.67B	0	251M	-12M	0	0	-246M	-43M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	2.11B	-78.09M	-731.24M	-354.7M	64.12M	4.04B	710M	2.31B	7.25B	10.79B
FCF Margin %	0.11%	-0%	-0.03%	-0.01%	0%	0.1%	0.02%	0.05%	0.12%	0.15%
FCF Growth %	1.21%	-1.04%	-8.36%	0.51%	1.18%	61.96%	-0.82%	2.25%	2.14%	0.49%
FCF per Share	4.74	-0.17	-1.57	-0.68	0.12	6.55	1.16	3.72	11.52	17.16
FCF Conversion (FCF/Net Income)	4.86x	16.47x	-0.94x	-1.78x	-0.31x	1.80x	-6.58x	2.06x	1.82x	1.57x
Interest Paid	0	0	0	0	0	0	0	0	0	258M
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	3.42%	0.77%	-16.28%	-10.93%	-3.81%	18.48%	-3.4%	14.83%	22.65%	32.16%
Return on Invested Capital (ROIC)	4.12%	-2.66%	-11.51%	-6.61%	-1.03%	16.99%	-1.78%	15.3%	22.81%	40.08%
Gross Margin	13.77%	-2.26%	-13.64%	-7.32%	11.41%	14.56%	1.68%	19.77%	23.05%	39.65%
Net Margin	5.06%	1.2%	-20.27%	-9.75%	-3%	12.19%	-2.47%	9.78%	13.99%	19.47%
Debt / Equity	0.08x	0.07x	0.22x	0.26x	0.33x	0.11x	0.12x	0.18x	0.06x	0.05x
Interest Coverage	5.74x	-4.76x	-14.01x	-4.39x	-0.54x	9.76x	-1.05x	7.14x	14.67x	-
FCF Conversion	4.86x	16.47x	-0.94x	-1.78x	-0.31x	1.80x	-6.58x	2.06x	1.82x	1.57x
Revenue Growth	13.03%	-1.4%	18.58%	23.22%	8.6%	42.7%	2.19%	15.55%	24.56%	20.39%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
commodities	-	-	-	-	48.69B	61.74B
commodities Growth	-	-	-	-	-	26.81%
Silver	589M	839M	857M	663M	1.02B	1.67B
Silver Growth	-	42.44%	2.15%	-22.64%	54.00%	63.27%
Uranium	177M	99M	178M	240M	304M	866M
Uranium Growth	-	-44.07%	79.80%	34.83%	26.67%	184.87%
Gold	25.69B	29.7B	42.6B	40.77B	47.37B	-
Gold Growth	-	15.61%	43.40%	-4.28%	16.17%	-

Frequently Asked Questions

Valuation & Price

Harmony Gold Mining Company Limited (HMY) has a price-to-earnings (P/E) ratio of 1.0x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Harmony Gold Mining Company Limited (HMY) reported $135.28B in revenue for fiscal year 2025. This represents a 748% increase from $15.96B in 2012.

Harmony Gold Mining Company Limited (HMY) grew revenue by 20.4% over the past year. This is strong growth.

Yes, Harmony Gold Mining Company Limited (HMY) is profitable, generating $22.97B in net income for fiscal year 2025 (19.5% net margin).

Dividend & Returns

Yes, Harmony Gold Mining Company Limited (HMY) pays a dividend with a yield of 14.90%. This makes it attractive for income-focused investors.

Harmony Gold Mining Company Limited (HMY) has a return on equity (ROE) of 32.2%. This is excellent, indicating efficient use of shareholder capital.

Harmony Gold Mining Company Limited (HMY) generated $18.04B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.