# Thungela Resources Limited (TGA.L) fundamentals

Data as of 2026-11-04. LSE, United Kingdom. Sector: Energy / Oil, Gas & Fuels. Price 559p, market value 710 millionp.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Thungela Resources Limited reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 0.0×**. Each dollar of revenue is priced at 0.0×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 0.0×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 1.1×**. Enterprise value is 1.1× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: -106.3%** (5-yr avg -1.3%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.

## Profitability
- **Gross margin: 57.0%**. Thungela Resources Limited keeps 57.0% of revenue after the direct cost of what it sells.
- **Operating margin: -5.0%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -23.9%**. The company reported a net loss over the last twelve months.
- **Return on equity: -44.2%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -12.0%**. Return on all capital, debt included, is -12.0%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -18.8%**. Each dollar of assets produces -18.8% of profit.

## Growth
- **Revenue growth (1 yr): -16.7%** (3-yr -16.5%/yr). Revenue fell 16.7% over the last year.
- **EPS growth (1 yr): -306.8%**. Earnings per share fell 306.8%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 0.01**. Debt is 0.01 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 1.3×**. It would take 1.3 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: -1.4×**. Operating profit covers interest only -1.4×: fragile.
- **Current ratio: 1.73** (quick 1.34). Current assets cover the next year's liabilities 1.73 times.
- **Altman Z-score: 1.45**. A Z-score of 1.45 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 8.89%** (1p per share, trailing). Thungela Resources Limited yields 8.89%, high enough to check carefully: yields this high often precede a cut.
- **Shareholder yield: 117.6%**. Dividends plus net buybacks return 117.6% of the market value a year.

## Price and momentum
- **Total return (1 yr): 76.3%** (YTD 41.3%, 3-mo 32.9%). The shares are up 76.3% over twelve months including dividends.
- **From 52-week high: -31.7%** (68.9% above the low). Trading 32% 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): 47**. An RSI of 47 is neutral.
- **Beta (1 yr): -0.76** (volatility 60%). Beta of -0.76 against the FTSE All-Share: the shares move much less than the market.

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

Not investment advice.