CALEDONIA MINING CORP PLC (CMCL) Fundamental Analysis & Valuation
NYSEARCA:CMCL • JE00BF0XVB15
25.98 USD
-1.22 (-4.49%)
At close: Mar 6, 2026
26.31 USD
+0.33 (+1.27%)
After Hours: 3/6/2026, 8:08:50 PM
This CMCL fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
We assign a fundamental rating of 7 out of 10 to CMCL. CMCL was compared to 159 industry peers in the Metals & Mining industry. While CMCL belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. CMCL is evaluated to be cheap and growing strongly. This does not happen too often! Finally CMCL also has an excellent dividend rating. With these ratings, CMCL could be worth investigating further for value and dividend and growth investing!.
1. CMCL Profitability Analysis
1.1 Basic Checks
- In the past year CMCL was profitable.
- In the past year CMCL had a positive cash flow from operations.
- Of the past 5 years CMCL 4 years were profitable.
- Each year in the past 5 years CMCL had a positive operating cash flow.
1.2 Ratios
- With an excellent Return On Assets value of 9.44%, CMCL belongs to the best of the industry, outperforming 83.44% of the companies in the same industry.
- With an excellent Return On Equity value of 15.41%, CMCL belongs to the best of the industry, outperforming 84.08% of the companies in the same industry.
- CMCL's Return On Invested Capital of 17.47% is amongst the best of the industry. CMCL outperforms 89.81% of its industry peers.
- The Average Return On Invested Capital over the past 3 years for CMCL is in line with the industry average of 11.01%.
- The last Return On Invested Capital (17.47%) for CMCL is above the 3 year average (12.13%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.44% | ||
| ROE | 15.41% | ||
| ROIC | 17.47% |
ROA(3y)3.45%
ROA(5y)6.15%
ROE(3y)5%
ROE(5y)8.22%
ROIC(3y)12.13%
ROIC(5y)14.64%
1.3 Margins
- Looking at the Profit Margin, with a value of 17.95%, CMCL is in the better half of the industry, outperforming 78.98% of the companies in the same industry.
- In the last couple of years the Profit Margin of CMCL has declined.
- Looking at the Operating Margin, with a value of 37.66%, CMCL belongs to the top of the industry, outperforming 86.62% of the companies in the same industry.
- CMCL's Operating Margin has declined in the last couple of years.
- CMCL's Gross Margin of 49.47% is amongst the best of the industry. CMCL outperforms 82.80% of its industry peers.
- In the last couple of years the Gross Margin of CMCL has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 37.66% | ||
| PM (TTM) | 17.95% | ||
| GM | 49.47% |
OM growth 3Y-4.4%
OM growth 5Y-2.32%
PM growth 3Y-13.6%
PM growth 5Y-29.3%
GM growth 3Y-1.97%
GM growth 5Y0.59%
2. CMCL Health Analysis
2.1 Basic Checks
- CMCL has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
- The number of shares outstanding for CMCL remains at a similar level compared to 1 year ago.
- CMCL has more shares outstanding than it did 5 years ago.
- The debt/assets ratio for CMCL has been reduced compared to a year ago.
2.2 Solvency
- An Altman-Z score of 3.20 indicates that CMCL is not in any danger for bankruptcy at the moment.
- Looking at the Altman-Z score, with a value of 3.20, CMCL is in line with its industry, outperforming 45.86% of the companies in the same industry.
- The Debt to FCF ratio of CMCL is 1.48, which is an excellent value as it means it would take CMCL, only 1.48 years of fcf income to pay off all of its debts.
- Looking at the Debt to FCF ratio, with a value of 1.48, CMCL belongs to the top of the industry, outperforming 80.25% of the companies in the same industry.
- CMCL has a Debt/Equity ratio of 0.11. This is a healthy value indicating a solid balance between debt and equity.
- Looking at the Debt to Equity ratio, with a value of 0.11, CMCL is in line with its industry, outperforming 58.60% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.11 | ||
| Debt/FCF | 1.48 | ||
| Altman-Z | 3.2 |
ROIC/WACC1.63
WACC10.71%
2.3 Liquidity
- CMCL has a Current Ratio of 1.65. This is a normal value and indicates that CMCL is financially healthy and should not expect problems in meeting its short term obligations.
- CMCL has a Current ratio of 1.65. This is in the lower half of the industry: CMCL underperforms 69.43% of its industry peers.
- A Quick Ratio of 1.10 indicates that CMCL should not have too much problems paying its short term obligations.
- Looking at the Quick ratio, with a value of 1.10, CMCL is doing worse than 64.97% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.65 | ||
| Quick Ratio | 1.1 |
3. CMCL Growth Analysis
3.1 Past
- CMCL shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 141.51%, which is quite impressive.
- CMCL shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -24.93% yearly.
- The Revenue has grown by 25.29% in the past year. This is a very strong growth!
- Measured over the past years, CMCL shows a quite strong growth in Revenue. The Revenue has been growing by 19.27% on average per year.
EPS 1Y (TTM)141.51%
EPS 3Y-14.85%
EPS 5Y-24.93%
EPS Q2Q%196.15%
Revenue 1Y (TTM)25.29%
Revenue growth 3Y14.68%
Revenue growth 5Y19.27%
Sales Q2Q%52.42%
3.2 Future
- CMCL is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 25.88% yearly.
- Based on estimates for the next years, CMCL will show a very strong growth in Revenue. The Revenue will grow by 20.76% on average per year.
EPS Next Y146.84%
EPS Next 2Y50.94%
EPS Next 3Y25.88%
EPS Next 5YN/A
Revenue Next Year48.46%
Revenue Next 2Y32.92%
Revenue Next 3Y20.76%
Revenue Next 5YN/A
3.3 Evolution
- When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
- When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
4. CMCL Valuation Analysis
4.1 Price/Earnings Ratio
- A Price/Earnings ratio of 10.15 indicates a reasonable valuation of CMCL.
- Based on the Price/Earnings ratio, CMCL is valued cheaply inside the industry as 98.73% of the companies are valued more expensively.
- When comparing the Price/Earnings ratio of CMCL to the average of the S&P500 Index (26.29), we can say CMCL is valued rather cheaply.
- CMCL is valuated reasonably with a Price/Forward Earnings ratio of 8.82.
- Based on the Price/Forward Earnings ratio, CMCL is valued cheaper than 87.26% of the companies in the same industry.
- When comparing the Price/Forward Earnings ratio of CMCL to the average of the S&P500 Index (24.57), we can say CMCL is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.15 | ||
| Fwd PE | 8.82 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, CMCL is valued cheaply inside the industry as 96.18% of the companies are valued more expensively.
- 81.53% of the companies in the same industry are more expensive than CMCL, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 26.5 | ||
| EV/EBITDA | 5.2 |
4.3 Compensation for Growth
- CMCL's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
- The decent profitability rating of CMCL may justify a higher PE ratio.
- A more expensive valuation may be justified as CMCL's earnings are expected to grow with 25.88% in the coming years.
PEG (NY)0.07
PEG (5Y)N/A
EPS Next 2Y50.94%
EPS Next 3Y25.88%
5. CMCL Dividend Analysis
5.1 Amount
- With a Yearly Dividend Yield of 1.72%, CMCL has a reasonable but not impressive dividend return.
- Compared to an average industry Dividend Yield of 1.05, CMCL pays a better dividend. On top of this CMCL pays more dividend than 84.71% of the companies listed in the same industry.
- CMCL's Dividend Yield is comparable with the S&P500 average which is at 1.82.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.72% |
5.2 History
- On average, the dividend of CMCL grows each year by 15.05%, which is quite nice.
- CMCL has paid a dividend for at least 10 years, which is a reliable track record.
- As CMCL did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)15.05%
Div Incr Years0
Div Non Decr Years6
5.3 Sustainability
- CMCL pays out 42.63% of its income as dividend. This is a bit on the high side, but may be sustainable.
- The dividend of CMCL is growing, but earnings are growing more, so the dividend growth is sustainable.
DP42.63%
EPS Next 2Y50.94%
EPS Next 3Y25.88%
CMCL Fundamentals: All Metrics, Ratios and Statistics
25.98
-1.22 (-4.49%)
Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)11-10 2025-11-10/bmo
Earnings (Next)03-25 2026-03-25/amc
Inst Owners52.11%
Inst Owner Change8.42%
Ins Owners1.45%
Ins Owner ChangeN/A
Market Cap501.41M
Revenue(TTM)173.75M
Net Income(TTM)36.74M
Analysts82.5
Price Target41.85 (61.09%)
Short Float %7.54%
Short Ratio2.82
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.72% |
Yearly Dividend0.64
Dividend Growth(5Y)15.05%
DP42.63%
Div Incr Years0
Div Non Decr Years6
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)69.44%
Min EPS beat(2)1.53%
Max EPS beat(2)137.36%
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)1.04%
Min Revenue beat(2)-5.7%
Max Revenue beat(2)7.78%
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)10.3%
PT rev (3m)23.35%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)2.62%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)1.49%
Revenue NY rev (3m)6.79%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.15 | ||
| Fwd PE | 8.82 | ||
| P/S | 2.45 | ||
| P/FCF | 26.5 | ||
| P/OCF | 8.46 | ||
| P/B | 2.1 | ||
| P/tB | 2.1 | ||
| EV/EBITDA | 5.2 |
EPS(TTM)2.56
EY9.85%
EPS(NY)2.95
Fwd EY11.34%
FCF(TTM)0.98
FCFY3.77%
OCF(TTM)3.07
OCFY11.82%
SpS10.61
BVpS12.35
TBVpS12.35
PEG (NY)0.07
PEG (5Y)N/A
Graham Number26.68
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.44% | ||
| ROE | 15.41% | ||
| ROCE | 22.99% | ||
| ROIC | 17.47% | ||
| ROICexc | 19.59% | ||
| ROICexgc | 19.59% | ||
| OM | 37.66% | ||
| PM (TTM) | 17.95% | ||
| GM | 49.47% | ||
| FCFM | 9.24% |
ROA(3y)3.45%
ROA(5y)6.15%
ROE(3y)5%
ROE(5y)8.22%
ROIC(3y)12.13%
ROIC(5y)14.64%
ROICexc(3y)12.42%
ROICexc(5y)15.65%
ROICexgc(3y)12.42%
ROICexgc(5y)15.65%
ROCE(3y)16.21%
ROCE(5y)19.06%
ROICexgc growth 3Y-9.34%
ROICexgc growth 5Y-3.05%
ROICexc growth 3Y-9.34%
ROICexc growth 5Y-3.05%
OM growth 3Y-4.4%
OM growth 5Y-2.32%
PM growth 3Y-13.6%
PM growth 5Y-29.3%
GM growth 3Y-1.97%
GM growth 5Y0.59%
F-Score7
Asset Turnover0.53
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.11 | ||
| Debt/FCF | 1.48 | ||
| Debt/EBITDA | 0.29 | ||
| Cap/Depr | 254.24% | ||
| Cap/Sales | 19.7% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 63.73% | ||
| Profit Quality | 51.5% | ||
| Current Ratio | 1.65 | ||
| Quick Ratio | 1.1 | ||
| Altman-Z | 3.2 |
F-Score7
WACC10.71%
ROIC/WACC1.63
Cap/Depr(3y)280.02%
Cap/Depr(5y)382.26%
Cap/Sales(3y)24.2%
Cap/Sales(5y)26.95%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)141.51%
EPS 3Y-14.85%
EPS 5Y-24.93%
EPS Q2Q%196.15%
EPS Next Y146.84%
EPS Next 2Y50.94%
EPS Next 3Y25.88%
EPS Next 5YN/A
Revenue 1Y (TTM)25.29%
Revenue growth 3Y14.68%
Revenue growth 5Y19.27%
Sales Q2Q%52.42%
Revenue Next Year48.46%
Revenue Next 2Y32.92%
Revenue Next 3Y20.76%
Revenue Next 5YN/A
EBIT growth 1Y182.99%
EBIT growth 3Y9.64%
EBIT growth 5Y16.51%
EBIT Next Year166.18%
EBIT Next 3Y45.02%
EBIT Next 5YN/A
FCF growth 1Y199.86%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y368.42%
OCF growth 3Y10.73%
OCF growth 5Y18.36%
CALEDONIA MINING CORP PLC / CMCL FAQ
What is the ChartMill fundamental rating of CALEDONIA MINING CORP PLC (CMCL) stock?
ChartMill assigns a fundamental rating of 7 / 10 to CMCL.
What is the valuation status for CMCL stock?
ChartMill assigns a valuation rating of 9 / 10 to CALEDONIA MINING CORP PLC (CMCL). This can be considered as Undervalued.
What is the profitability of CMCL stock?
CALEDONIA MINING CORP PLC (CMCL) has a profitability rating of 7 / 10.
What are the PE and PB ratios of CALEDONIA MINING CORP PLC (CMCL) stock?
The Price/Earnings (PE) ratio for CALEDONIA MINING CORP PLC (CMCL) is 10.15 and the Price/Book (PB) ratio is 2.1.
What is the expected EPS growth for CALEDONIA MINING CORP PLC (CMCL) stock?
The Earnings per Share (EPS) of CALEDONIA MINING CORP PLC (CMCL) is expected to grow by 146.84% in the next year.