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HMY · NYSE · United States · Gold And Silver Ores
In shortHARMONY GOLD MINING CO LTD is profitable, generates cash and holds more cash than debt, with revenue growing (+25.8% last year).
Financial health
Strong
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 26.0% | 100/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 18.3% | 93/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 32.3% | 100/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 27.8% | 100/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.72× | 77/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.04× | 100/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 29.16× | 100/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 4.86 | 97/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 13.8% | 75/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 0.75× | 56/100 |
| Years with positive free cash flow (last 5) | 5 of 5 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 4 of 5 | 80/100 |
|---|---|---|
| Years of revenue decline (last 5) | 1 of 5 | 67/100 |
| Revenue growth volatility | 16.4% | 50/100 |
| Operating margin volatility | 10.2% | 17/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 22.5% | 100/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
4 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
ZAR millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 43,632 | 42,645 | 49,275 | 62,321 | 78,404 |
| Cost of revenue | 35,489 | 41,927 | 39,535 | 47,233 | 49,635 |
| Gross profit | 6,244 | 718 | 9,740 | 14,146 | 24,261 |
| Operating income | 6,450 | (755) | 7,094 | 11,676 | 20,357 |
| Interest expense | 661 | 718 | 994 | 796 | 698 |
| Pre-tax income | 6,382 | (1,058) | 6,606 | 11,770 | 21,206 |
| Income tax | 1,258 | (46) | 1,723 | 3,082 | 6,658 |
| Net income | 5,087 | (1,052) | 4,820 | 8,587 | 14,384 |
| Diluted EPS | ZAR8.25 | −ZAR1.72 | ZAR7.77 | ZAR13.64 | ZAR22.88 |
| Diluted shares (millions) | 616 | 615 | 620 | 630 | 629 |
4 older years available with the 10-year history. Essential plan, from €8.25/month →
4.86 Safe zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
8/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2025 · Data updated Oct 31, 2025