# Caledonia Mining Corporation PLC (CMCL.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Basic Materials / Metals & Mining. Price 1928p, market value 373 millionp.

## Valuation
- **P/E (trailing): 7.5×** (5-yr avg 727.2×, 3-yr avg 768.1×). Caledonia Mining Corporation PLC trades at 7.5× trailing earnings, well below its own five-year average of 727.2×: cheap by its own standards. The Basic Materials median in the September 2026 study was 19.0×. Forward P/E is 10.3×, higher than trailing, so analysts expect earnings to fall.
- **PEG: 0.05**. A PEG of 0.05 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 1.8×**. Each dollar of revenue is priced at 1.8×.
- **Price / book: 1.7×**. The shares trade at 1.7× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 3.5×**. Enterprise value is 3.5× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 10.0%** (5-yr avg 0.0%). Free cash flow equals 10.0% of the market value, above its five-year average of 0.0%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 13.4%**. The inverse of the P/E: 13.4% of the price is earned each year.

## Profitability
- **Gross margin: 51.9%**. Caledonia Mining Corporation PLC keeps 51.9% of revenue after the direct cost of what it sells.
- **Operating margin: 43.1%**. 43.1% of revenue is left after running the business, an exceptional level.
- **Net margin: 21.7%**. 21.7% of each dollar of sales reaches the bottom line.
- **Return on equity: 21.3%**. 21.3% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on invested capital: 32.9%**. Return on all capital, debt included, is 32.9%: comfortably above what that capital costs.
- **Return on assets: 15.9%**. Each dollar of assets produces 15.9% of profit.

## Growth
- **Revenue growth (1 yr): 38.7%** (3-yr 21.3%/yr, 5-yr 20.5%/yr). Revenue grew 38.7% over the last year, against 20.5% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 211.0%** (3-yr 28.0%/yr, 5-yr 10.3%/yr). Earnings per share rose 211.0%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Debt to equity: 0.13**. Debt is 0.13 times equity: a conservative balance sheet.
- **Net debt / EBITDA: net cash**. Caledonia Mining Corporation PLC holds more cash than debt.
- **Interest coverage: 17.6×**. Operating profit covers interest 17.6× over, a safe margin.
- **Current ratio: 1.69** (quick 1.25). Current assets cover the next year's liabilities 1.69 times.
- **Altman Z-score: 4.25**. A Z-score of 4.25 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 9/9**. 9 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend yield: 2.18%** (0p per share, trailing). Caledonia Mining Corporation PLC yields 2.18%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 36%** (44% of free cash flow). 36% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 13**. 13 straight years of increases, a record that survived at least one recession.
- **Dividend growth (5 yr): 10.8%/yr** (1-yr 0.0%). The dividend has compounded at 10.8% a year over five years, doubling roughly every 7 years at that pace.

## Analyst view
- **Analyst consensus: buy** (2 analysts). 2 analysts cover Caledonia Mining Corporation PLC; the consensus is buy, with an average price target of 2845p (+48% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -5.7%** (YTD -4.8%, 3-mo 22.2%). The shares are down 5.7% over twelve months including dividends.
- **From 52-week high: -33.5%** (54.2% above the low). Trading 34% below its 52-week high, deep in a drawdown.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 68**. An RSI of 68 is neutral.
- **Beta (1 yr): 1.30** (volatility 54%). Beta of 1.30 against the FTSE All-Share: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=CMCL.L · Page: https://foliofundamentals.com/stocks/cmcl.l

Not investment advice.