# Harmony Gold Mining Company Limited (HMY) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Basic Materials / Metals & Mining. Price $20.27, market value $12.7 billion.

## Valuation
- **P/E (trailing): 7.0×** (5-yr avg 12.9×, 3-yr avg 0.6×). Harmony Gold Mining Company Limited trades at 7.0× trailing earnings, well below its own five-year average of 12.9×: cheap by its own standards. The Basic Materials median in the September 2026 study was 19.0×. Forward P/E is 7.9×, higher than trailing, so analysts expect earnings to fall.
- **PEG: 0.11**. A PEG of 0.11 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 0.2×**. Each dollar of revenue is priced at 0.2×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 2.7×**. The shares trade at 2.7× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 0.6×**. Enterprise value is 0.6× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 57.2%** (5-yr avg 53.4%). Free cash flow equals 57.2% of the market value, in line with its five-year average of 53.4%. Above 5% is generally attractive.
- **Earnings yield: 14.2%**. The inverse of the P/E: 14.2% of the price is earned each year.

## Profitability
- **Gross margin: 23.0%**. Harmony Gold Mining Company Limited keeps 23.0% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: 18.8%**. 18.8% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 14.0%**. 14.0% of each dollar of sales reaches the bottom line.
- **Return on equity: 21.1%**. 21.1% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on invested capital: 22.2%**. Return on all capital, debt included, is 22.2%: comfortably above what that capital costs.
- **Return on assets: 14.2%**. Each dollar of assets produces 14.2% of profit.

## Growth
- **Revenue growth (1 yr): 24.6%** (3-yr 238.4%/yr, 5-yr 117.4%/yr). Revenue grew 24.6% over the last year, against 117.4% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 75.5%** (5-yr 146.5%/yr). Earnings per share rose 75.5%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Debt to equity: 0.06**. Debt is 0.06 times equity: a conservative balance sheet.
- **Net debt / EBITDA: net cash**. Harmony Gold Mining Company Limited holds more cash than debt.
- **Interest coverage: 14.5×**. Operating profit covers interest 14.5× over, a safe margin.
- **Current ratio: 1.56** (quick 1.07). Current assets cover the next year's liabilities 1.56 times.
- **Altman Z-score: 3.06**. A Z-score of 3.06 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 8/9**. 8 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend yield: 2.01%** ($0.41 per share, trailing). Harmony Gold Mining Company Limited yields 2.01%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 17%** (20% of free cash flow). 17% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 3**. 3 straight years of increases.

## Analyst view
- **Analyst consensus: buy** (3 analysts). 3 analysts cover Harmony Gold Mining Company Limited; the consensus is buy, with an average price target of $20.73 (+2% 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): 47.5%** (YTD 3.8%, 3-mo 29.0%). The shares are up 47.5% over twelve months including dividends.
- **From 52-week high: -22.2%** (55.6% above the low). Trading 22% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 53**. An RSI of 53 is neutral.
- **Beta (1 yr): 2.20** (volatility 66%). Beta of 2.20 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=HMY · Page: https://foliofundamentals.com/stocks/hmy

Not investment advice.