# Pan African Resources PLC (PAF.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Basic Materials / Metals & Mining. Price 135p, market value 2.7 billionp.

## Valuation
- **P/E (trailing): 15.0×** (5-yr avg 405.6×, 3-yr avg 350.7×). Pan African Resources PLC trades at 15.0× trailing earnings, well below its own five-year average of 405.6×: cheap by its own standards. The Basic Materials median in the September 2026 study was 19.0×. Forward P/E is 7.8×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.00**. A PEG of 0.00 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 3.1×**. Each dollar of revenue is priced at 3.1×.
- **Price / book: 5.4×**. The shares trade at 5.4× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 6.1×**. Enterprise value is 6.1× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 7.1%** (5-yr avg -0.1%). Free cash flow equals 7.1% of the market value, above its five-year average of -0.1%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 6.7%**. The inverse of the P/E: 6.7% of the price is earned each year.

## Profitability
- **Gross margin: 50.1%**. Pan African Resources PLC keeps 50.1% of revenue after the direct cost of what it sells.
- **Operating margin: 49.1%**. 49.1% of revenue is left after running the business, an exceptional level.
- **Net margin: 26.2%**. 26.2% of each dollar of sales reaches the bottom line.
- **Return on equity: 25.8%**. 25.8% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on invested capital: 58.9%**. Return on all capital, debt included, is 58.9%: comfortably above what that capital costs.
- **Return on assets: 36.3%**. Each dollar of assets produces 36.3% of profit.

## Growth
- **Revenue growth (1 yr): 44.5%** (3-yr 12.8%/yr, 5-yr 14.5%/yr). Revenue grew 44.5% over the last year, against 14.5% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 3450.7%** (3-yr 235.3%/yr, 5-yr 129.7%/yr). Earnings per share rose 3450.7%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Debt to equity: 0.35**. Debt is 0.35 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 0.2×**. It would take 0.2 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 20.4×**. Operating profit covers interest 20.4× over, a safe margin.
- **Current ratio: 0.60** (quick 0.38). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **Altman Z-score: 5.45**. A Z-score of 5.45 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 1.62%** (0p per share, trailing). Pan African Resources PLC yields 1.62%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 0%** (39% of free cash flow). 0% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 2**. 2 straight years of increases.
- **Dividend growth (5 yr): 18.9%/yr** (1-yr 70.7%). The dividend has compounded at 18.9% a year over five years, doubling roughly every 4 years at that pace.
- **Shareholder yield: 1.7%**. Dividends plus net buybacks return 1.7% of the market value a year.

## Analyst view
- **Analyst consensus: strong_buy** (7 analysts). 7 analysts cover Pan African Resources PLC; the consensus is strong_buy, with an average price target of 160p (+19% 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): 91.4%** (YTD 11.7%, 3-mo 24.7%). The shares are up 91.4% over twelve months including dividends.
- **From 52-week high: -27.4%** (93.8% above the low). Trading 27% 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): 64**. An RSI of 64 is neutral.
- **Beta (1 yr): 2.14** (volatility 59%). Beta of 2.14 against the FTSE All-Share: the shares move much more than the market.

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

Not investment advice.