Financials Harmony Gold Mining Company Limited

Equities

HAR

ZAE000015228

Gold

End-of-day quote Johannesburg S.E. 06:00:00 2024-05-27 pm EDT 5-day change 1st Jan Change
172.7 ZAR -1.03% Intraday chart for Harmony Gold Mining Company Limited -6.23% +44.38%

Valuation

Fiscal Period: Juni 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 17,132 43,339 32,178 32,038 48,978 107,038 - -
Enterprise Value (EV) 1 22,054 44,700 32,720 32,795 51,806 104,791 95,576 84,351
P/E ratio -6.37 x -43.8 x 5.86 x -30.2 x 10.2 x 8.81 x 6.86 x 7.13 x
Yield - - 2.6% 1.19% 0.95% 1.57% 2.26% 2.42%
Capitalization / Revenue 0.64 x 1.48 x 0.77 x 0.75 x 0.99 x 1.73 x 1.59 x 1.62 x
EV / Revenue 0.82 x 1.53 x 0.78 x 0.77 x 1.05 x 1.7 x 1.42 x 1.28 x
EV / EBITDA 4.06 x 6.21 x 2.98 x 4.46 x 4.91 x 5.07 x 3.71 x 3.5 x
EV / FCF -61.8 x 40.2 x 8.11 x 46.2 x 22.4 x 17.7 x 8.33 x 5.39 x
FCF Yield -1.62% 2.49% 12.3% 2.16% 4.46% 5.65% 12% 18.6%
Price to Book 0.74 x 1.64 x 1.01 x 1.06 x 1.41 x 2.38 x 1.83 x 1.5 x
Nbr of stocks (in thousands) 539,755 603,104 609,898 616,478 618,025 619,936 - -
Reference price 2 31.74 71.86 52.76 51.97 79.25 172.7 172.7 172.7
Announcement Date 8/20/19 9/15/20 8/31/21 8/30/22 8/29/23 - - -
1ZAR in Million2ZAR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Junio 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 26,912 29,245 41,733 42,645 49,275 61,796 67,462 66,113
EBITDA 1 5,430 7,197 10,978 7,361 10,548 20,659 25,778 24,119
EBIT 1 1,376 3,689 7,085 3,678 7,094 16,773 21,332 18,852
Operating Margin 5.11% 12.61% 16.98% 8.62% 14.4% 27.14% 31.62% 28.52%
Earnings before Tax (EBT) 1 -2,746 -595 6,743 -1,058 6,606 16,629 20,866 21,654
Net income 1 -2,607 -878 5,553 -1,052 4,820 11,470 16,336 17,139
Net margin -9.69% -3% 13.31% -2.47% 9.78% 18.56% 24.21% 25.92%
EPS 2 -4.980 -1.640 9.010 -1.720 7.800 19.61 25.15 24.23
Free Cash Flow 1 -357 1,113 4,037 710 2,308 5,917 11,480 15,648
FCF margin -1.33% 3.81% 9.67% 1.66% 4.68% 9.58% 17.02% 23.67%
FCF Conversion (EBITDA) - 15.46% 36.77% 9.65% 21.88% 28.64% 44.53% 64.88%
FCF Conversion (Net income) - - 72.7% - 47.88% 51.59% 70.27% 91.3%
Dividend per Share 2 - - 1.370 0.6200 0.7500 2.714 3.903 4.175
Announcement Date 8/20/19 9/15/20 8/31/21 8/30/22 8/29/23 - - -
1ZAR in Million2ZAR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June 2020 S1 2021 S1 2022 S1 2022 S2 2023 S1 2024 S1
Net sales 15,477 21,588 21,951 - - -
EBITDA 1 4,111 6,780 3,624 - 4,410 9,950
EBIT 1 2,185 4,964 1,814 - - 7,569
Operating Margin 14.12% 22.99% 8.26% - - -
Earnings before Tax (EBT) - - - - - -
Net income - - 1,387 - - -
Net margin - - 6.32% - - -
EPS 2.400 - - - - -
Dividend per Share 2 - - 0.4000 0.2200 - 1.470
Announcement Date 2/11/20 2/23/21 2/28/22 8/30/22 - 2/28/24
1ZAR in Million2ZAR
Estimates

Balance Sheet Analysis

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 4,922 1,361 542 757 2,828 - - -
Net Cash position 1 - - - - - 2,247 11,462 22,687
Leverage (Debt/EBITDA) 0.9064 x 0.1891 x 0.0494 x 0.1028 x 0.2681 x - - -
Free Cash Flow 1 -357 1,113 4,037 710 2,308 5,917 11,480 15,648
ROE (net income / shareholders' equity) 4.45% -3.82% 20.3% 9.98% 15.3% 28.8% 28.9% 21.6%
ROA (Net income/ Total Assets) 2.8% - 11.8% 6.39% 9.5% 19.8% 24.1% 21%
Assets 1 -93,159 - 46,909 -16,462 50,750 58,018 67,870 81,554
Book Value Per Share 2 43.20 43.70 52.40 49.10 56.10 72.60 94.40 115.0
Cash Flow per Share 2 8.780 8.630 14.90 11.30 16.10 27.30 27.40 30.70
Capex 1 5,036 3,610 5,142 6,214 7,640 9,036 9,157 6,554
Capex / Sales 18.71% 12.34% 12.32% 14.57% 15.5% 14.62% 13.57% 9.91%
Announcement Date 8/20/19 9/15/20 8/31/21 8/30/22 8/29/23 - - -
1ZAR in Million2ZAR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings
Sell
Consensus
Buy
Mean consensus
SELL
Number of Analysts
7
Last Close Price
172.7 ZAR
Average target price
129 ZAR
Spread / Average Target
-25.29%
Consensus

Quarterly revenue - Rate of surprise

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