HARMONY GOLD MNG-SPON ADR (HMY) Stock Fundamental Analysis

NYSE:HMY • US4132163001

20.46 USD
+0.19 (+0.94%)
Last: Feb 20, 2026, 09:32 AM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

7

HMY gets a fundamental rating of 7 out of 10. The analysis compared the fundamentals against 157 industry peers in the Metals & Mining industry. HMY scores excellent points on both the profitability and health parts. This is a solid base for a good stock. HMY is growing strongly while it also seems undervalued. This is an interesting combination With these ratings, HMY could be worth investigating further for value and growth and quality investing!.


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • In the past year HMY was profitable.
  • HMY had a positive operating cash flow in the past year.
  • Of the past 5 years HMY 4 years were profitable.
  • In the past 5 years HMY always reported a positive cash flow from operatings.
HMY Yearly Net Income VS EBIT VS OCF VS FCFHMY Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B 10B 15B 20B

1.2 Ratios

  • The Return On Assets of HMY (18.56%) is better than 96.82% of its industry peers.
  • The Return On Equity of HMY (29.82%) is better than 95.54% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 22.66%, HMY belongs to the top of the industry, outperforming 96.18% of the companies in the same industry.
  • HMY had an Average Return On Invested Capital over the past 3 years of 17.58%. This is significantly above the industry average of 10.58%.
  • The 3 year average ROIC (17.58%) for HMY is below the current ROIC(22.66%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 18.56%
ROE 29.82%
ROIC 22.66%
ROA(3y)13.73%
ROA(5y)9.87%
ROE(3y)21.58%
ROE(5y)15.51%
ROIC(3y)17.58%
ROIC(5y)14.04%
HMY Yearly ROA, ROE, ROICHMY Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 20

1.3 Margins

  • Looking at the Profit Margin, with a value of 19.47%, HMY belongs to the top of the industry, outperforming 82.80% of the companies in the same industry.
  • HMY's Operating Margin of 28.04% is fine compared to the rest of the industry. HMY outperforms 79.62% of its industry peers.
  • In the last couple of years the Operating Margin of HMY has grown nicely.
  • The Gross Margin of HMY (33.10%) is better than 70.06% of its industry peers.
  • HMY's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 28.04%
PM (TTM) 19.47%
GM 33.1%
OM growth 3Y44.29%
OM growth 5Y28.6%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y39.66%
GM growth 5Y23.45%
HMY Yearly Profit, Operating, Gross MarginsHMY Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 20 -20 30

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ROAROEROICOperating and Profit MarginShow most profitable peers

7

2. Health

2.1 Basic Checks

  • HMY has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • HMY has more shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, HMY has more shares outstanding
  • Compared to 1 year ago, HMY has an improved debt to assets ratio.
HMY Yearly Shares OutstandingHMY Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M
HMY Yearly Total Debt VS Total AssetsHMY Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B

2.2 Solvency

  • HMY has an Altman-Z score of 6.46. This indicates that HMY is financially healthy and has little risk of bankruptcy at the moment.
  • With a decent Altman-Z score value of 6.46, HMY is doing good in the industry, outperforming 68.15% of the companies in the same industry.
  • HMY has a debt to FCF ratio of 0.18. This is a very positive value and a sign of high solvency as it would only need 0.18 years to pay back of all of its debts.
  • With an excellent Debt to FCF ratio value of 0.18, HMY belongs to the best of the industry, outperforming 93.63% of the companies in the same industry.
  • A Debt/Equity ratio of 0.04 indicates that HMY is not too dependend on debt financing.
  • HMY has a better Debt to Equity ratio (0.04) than 68.79% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.04
Debt/FCF 0.18
Altman-Z 6.46
ROIC/WACC1.4
WACC16.2%
HMY Yearly LT Debt VS Equity VS FCFHMY Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10B 20B 30B 40B

2.3 Liquidity

  • HMY has a Current Ratio of 1.72. This is a normal value and indicates that HMY is financially healthy and should not expect problems in meeting its short term obligations.
  • HMY has a Current ratio of 1.72. This is in the lower half of the industry: HMY underperforms 63.69% of its industry peers.
  • HMY has a Quick Ratio of 1.41. This is a normal value and indicates that HMY is financially healthy and should not expect problems in meeting its short term obligations.
  • The Quick ratio of HMY (1.41) is comparable to the rest of the industry.
  • The current and quick ratio evaluation for HMY is rather negative, while it does have excellent solvency and profitability. These ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
Industry RankSector Rank
Current Ratio 1.72
Quick Ratio 1.41
HMY Yearly Current Assets VS Current LiabilitesHMY Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

7

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an impressive 66.97% over the past year.
  • Looking at the last year, HMY shows a very strong growth in Revenue. The Revenue has grown by 20.39%.
  • Measured over the past years, HMY shows a very strong growth in Revenue. The Revenue has been growing by 20.37% on average per year.
EPS 1Y (TTM)66.97%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%147.05%
Revenue 1Y (TTM)20.39%
Revenue growth 3Y20.11%
Revenue growth 5Y20.37%
Sales Q2Q%22.66%

3.2 Future

  • Based on estimates for the next years, HMY will show a very strong growth in Earnings Per Share. The EPS will grow by 30.32% on average per year.
  • HMY is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 14.76% yearly.
EPS Next Y61.88%
EPS Next 2Y46.38%
EPS Next 3Y30.32%
EPS Next 5YN/A
Revenue Next Year37.12%
Revenue Next 2Y25.48%
Revenue Next 3Y14.76%
Revenue Next 5YN/A

3.3 Evolution

  • Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
HMY Yearly Revenue VS EstimatesHMY Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 20B 40B 60B 80B 100B
HMY Yearly EPS VS EstimatesHMY Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0 20 40 60

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Find the best growth stocksShow best growing peers

9

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 14.31, which indicates a correct valuation of HMY.
  • Compared to the rest of the industry, the Price/Earnings ratio of HMY indicates a rather cheap valuation: HMY is cheaper than 94.90% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 27.09, HMY is valued a bit cheaper.
  • HMY is valuated cheaply with a Price/Forward Earnings ratio of 6.43.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of HMY indicates a rather cheap valuation: HMY is cheaper than 97.45% of the companies listed in the same industry.
  • When comparing the Price/Forward Earnings ratio of HMY to the average of the S&P500 Index (27.98), we can say HMY is valued rather cheaply.
Industry RankSector Rank
PE 14.31
Fwd PE 6.43
HMY Price Earnings VS Forward Price EarningsHMY Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 50 100 150 200

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of HMY indicates a rather cheap valuation: HMY is cheaper than 91.08% of the companies listed in the same industry.
  • Based on the Price/Free Cash Flow ratio, HMY is valued cheaper than 93.63% of the companies in the same industry.
Industry RankSector Rank
P/FCF 19.2
EV/EBITDA 7.6
HMY Per share dataHMY EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • The excellent profitability rating of HMY may justify a higher PE ratio.
  • HMY's earnings are expected to grow with 30.32% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.23
PEG (5Y)N/A
EPS Next 2Y46.38%
EPS Next 3Y30.32%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 1.12%, HMY has a reasonable but not impressive dividend return.
  • HMY's Dividend Yield is rather good when compared to the industry average which is at 1.03. HMY pays more dividend than 80.25% of the companies in the same industry.
  • Compared to the average S&P500 Dividend Yield of 1.85, HMY is paying slightly less dividend.
Industry RankSector Rank
Dividend Yield 1.12%

5.2 History

  • HMY has paid a dividend for at least 10 years, which is a reliable track record.
  • The dividend of HMY decreased in the last 3 years.
Dividend Growth(5Y)N/A
Div Incr Years2
Div Non Decr Years2
HMY Yearly Dividends per shareHMY Yearly Dividends per shareYearly Dividends per share 2016 2017 2021 2022 2023 2024 2025 0.05 0.1 0.15 0.2

5.3 Sustainability

  • HMY pays out 14.60% of its income as dividend. This is a sustainable payout ratio.
DP14.6%
EPS Next 2Y46.38%
EPS Next 3Y30.32%
HMY Yearly Income VS Free CF VS DividendHMY Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B 10B
HMY Dividend Payout.HMY Dividend Payout, showing the Payout Ratio.HMY Dividend Payout.PayoutRetained Earnings

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HARMONY GOLD MNG-SPON ADR

NYSE:HMY (2/20/2026, 9:32:23 AM)

20.46

+0.19 (+0.94%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)12-30
Earnings (Next)03-11
Inst Owners54.37%
Inst Owner Change-14.12%
Ins Owners0.15%
Ins Owner ChangeN/A
Market Cap12.78B
Revenue(TTM)73.90B
Net Income(TTM)14.38B
Analysts74.55
Price Target30.29 (48.04%)
Short Float %1.4%
Short Ratio1.63
Dividend
Industry RankSector Rank
Dividend Yield 1.12%
Yearly Dividend0.21
Dividend Growth(5Y)N/A
DP14.6%
Div Incr Years2
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
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)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
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)35.47%
PT rev (3m)63.66%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0.82%
EPS NY rev (3m)15.25%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)3.46%
Valuation
Industry RankSector Rank
PE 14.31
Fwd PE 6.43
P/S 2.8
P/FCF 19.2
P/OCF 9.15
P/B 4.3
P/tB 4.3
EV/EBITDA 7.6
EPS(TTM)1.43
EY6.99%
EPS(NY)3.18
Fwd EY15.56%
FCF(TTM)1.07
FCFY5.21%
OCF(TTM)2.24
OCFY10.93%
SpS7.29
BVpS4.76
TBVpS4.76
PEG (NY)0.23
PEG (5Y)N/A
Graham Number12.38
Profitability
Industry RankSector Rank
ROA 18.56%
ROE 29.82%
ROCE 31.83%
ROIC 22.66%
ROICexc 28.37%
ROICexgc 28.37%
OM 28.04%
PM (TTM) 19.47%
GM 33.1%
FCFM 14.6%
ROA(3y)13.73%
ROA(5y)9.87%
ROE(3y)21.58%
ROE(5y)15.51%
ROIC(3y)17.58%
ROIC(5y)14.04%
ROICexc(3y)20.33%
ROICexc(5y)15.92%
ROICexgc(3y)20.33%
ROICexgc(5y)15.95%
ROCE(3y)24.69%
ROCE(5y)19.72%
ROICexgc growth 3Y57.9%
ROICexgc growth 5Y38.89%
ROICexc growth 3Y57.96%
ROICexc growth 5Y39.38%
OM growth 3Y44.29%
OM growth 5Y28.6%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y39.66%
GM growth 5Y23.45%
F-Score7
Asset Turnover0.95
Health
Industry RankSector Rank
Debt/Equity 0.04
Debt/FCF 0.18
Debt/EBITDA 0.07
Cap/Depr 244.84%
Cap/Sales 16.04%
Interest Coverage 80.32
Cash Conversion 88.59%
Profit Quality 75.03%
Current Ratio 1.72
Quick Ratio 1.41
Altman-Z 6.46
F-Score7
WACC16.2%
ROIC/WACC1.4
Cap/Depr(3y)215.65%
Cap/Depr(5y)189.66%
Cap/Sales(3y)15.08%
Cap/Sales(5y)14.42%
Profit Quality(3y)69.12%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)66.97%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%147.05%
EPS Next Y61.88%
EPS Next 2Y46.38%
EPS Next 3Y30.32%
EPS Next 5YN/A
Revenue 1Y (TTM)20.39%
Revenue growth 3Y20.11%
Revenue growth 5Y20.37%
Sales Q2Q%22.66%
Revenue Next Year37.12%
Revenue Next 2Y25.48%
Revenue Next 3Y14.76%
Revenue Next 5YN/A
EBIT growth 1Y47.97%
EBIT growth 3Y73.31%
EBIT growth 5Y54.8%
EBIT Next Year114.89%
EBIT Next 3Y33.05%
EBIT Next 5YN/A
FCF growth 1Y48.81%
FCF growth 3Y147.71%
FCF growth 5Y57.51%
OCF growth 1Y44.71%
OCF growth 3Y48.44%
OCF growth 5Y36.82%

HARMONY GOLD MNG-SPON ADR / HMY FAQ

Can you provide the ChartMill fundamental rating for HARMONY GOLD MNG-SPON ADR?

ChartMill assigns a fundamental rating of 7 / 10 to HMY.


What is the valuation status for HMY stock?

ChartMill assigns a valuation rating of 9 / 10 to HARMONY GOLD MNG-SPON ADR (HMY). This can be considered as Undervalued.


What is the profitability of HMY stock?

HARMONY GOLD MNG-SPON ADR (HMY) has a profitability rating of 8 / 10.


Can you provide the PE and PB ratios for HMY stock?

The Price/Earnings (PE) ratio for HARMONY GOLD MNG-SPON ADR (HMY) is 14.31 and the Price/Book (PB) ratio is 4.3.


Can you provide the dividend sustainability for HMY stock?

The dividend rating of HARMONY GOLD MNG-SPON ADR (HMY) is 4 / 10 and the dividend payout ratio is 14.6%.