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Harmony Gold Mining Valuation Multiples
Discover revenue and EBITDA valuation multiples for Harmony Gold Mining and similar public comparables like Jindal Steel, Lynas Rare Earths, Equinox Gold, Mueller Industries and more.
Harmony Gold Mining Overview
About Harmony Gold Mining
Harmony Gold Mining Co Ltd is engaged in gold mining and related activities, including exploration, extraction, and processing. The group’s primary product is gold bullion, produced at operations in South Africa and Papua New Guinea. Gold byproducts include uranium and silver. Strategic projects such as the Wafi-Golpu Project in the New Guinea Mobile Belt, the Eva Copper Project in the Mt Isa Inlier, Queensland, Australia, and the MAC Copper acquisition position the company as a gold-copper producer. The company operates across South Africa, Papua New Guinea, and Australia.
Founded
1950
HQ
Employees
33.1K
Website
Sectors
Financials (LTM)
EV
$13B
Harmony Gold Mining Financials
Harmony Gold Mining reported last 12-month revenue of $6B and EBITDA of $2B.
In the same LTM period, Harmony Gold Mining generated $3B in gross profit, $2B in EBITDA, and $2B in net income.
Revenue (LTM)
Harmony Gold Mining P&L
In the most recent fiscal year, Harmony Gold Mining reported revenue of $4B and EBITDA of $2B.
Harmony Gold Mining expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $6B | XXX | $4B | XXX | XXX | XXX |
| Gross Profit | $3B | XXX | $1B | XXX | XXX | XXX |
| Gross Margin | 49% | XXX | 33% | XXX | XXX | XXX |
| EBITDA | $2B | XXX | $2B | XXX | XXX | XXX |
| EBITDA Margin | 45% | XXX | 36% | XXX | XXX | XXX |
| EBIT Margin | 41% | XXX | 29% | XXX | XXX | XXX |
| Net Profit | $2B | XXX | $863M | XXX | XXX | XXX |
| Net Margin | 29% | XXX | 20% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Harmony Gold Mining Stock Performance
Harmony Gold Mining has current market cap of $14B, and enterprise value of $13B.
Market Cap Evolution
Harmony Gold Mining's stock price is $22.48.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $13B | $14B | 0.0% | XXX | XXX | XXX | $1.38 |
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Start Free TrialHarmony Gold Mining Valuation Multiples
Harmony Gold Mining trades at 2.4x EV/Revenue multiple, and 5.4x EV/EBITDA.
EV / Revenue (LTM)
Harmony Gold Mining Financial Valuation Multiples
As of March 7, 2026, Harmony Gold Mining has market cap of $14B and EV of $13B.
Equity research analysts estimate Harmony Gold Mining's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Harmony Gold Mining has a P/E ratio of 8.8x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $14B | XXX | $14B | XXX | XXX | XXX |
| EV (current) | $13B | XXX | $13B | XXX | XXX | XXX |
| EV/Revenue | 2.4x | XXX | 3.0x | XXX | XXX | XXX |
| EV/EBITDA | 5.4x | XXX | 8.3x | XXX | XXX | XXX |
| EV/EBIT | 5.9x | XXX | 10.4x | XXX | XXX | XXX |
| EV/Gross Profit | 4.9x | XXX | 9.2x | XXX | XXX | XXX |
| P/E | 8.8x | XXX | 16.3x | XXX | XXX | XXX |
| EV/FCF | 12.4x | XXX | 19.8x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Harmony Gold Mining Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Harmony Gold Mining Margins & Growth Rates
Harmony Gold Mining's revenue in the last 12 month grew by 27%.
Harmony Gold Mining's revenue per employee in the last FY averaged $0.2M.
Harmony Gold Mining's rule of 40 is 72% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Harmony Gold Mining's rule of X is 113% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Harmony Gold Mining Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 27% | XXX | 38% | XXX | XXX | XXX |
| EBITDA Margin | 45% | XXX | 36% | XXX | XXX | XXX |
| EBITDA Growth | 52% | XXX | 83% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 72% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 113% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 2% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 4% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Harmony Gold Mining Public Comps
See public comps and valuation multiples for other Metals & Mining comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Jindal Steel | XXX | XXX | XXX | XXX | XXX | XXX |
| Lynas Rare Earths | XXX | XXX | XXX | XXX | XXX | XXX |
| Equinox Gold | XXX | XXX | XXX | XXX | XXX | XXX |
| Mueller Industries | XXX | XXX | XXX | XXX | XXX | XXX |
| South32 | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Harmony Gold Mining M&A Activity
Harmony Gold Mining acquired XXX companies to date.
Last acquisition by Harmony Gold Mining was on XXXXXXXX, XXXXX. Harmony Gold Mining acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Harmony Gold Mining
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialHarmony Gold Mining Investment Activity
Harmony Gold Mining invested in XXX companies to date.
Harmony Gold Mining made its latest investment on XXXXXXXX, XXXXX. Harmony Gold Mining invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Harmony Gold Mining
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Harmony Gold Mining
| When was Harmony Gold Mining founded? | Harmony Gold Mining was founded in 1950. |
| Where is Harmony Gold Mining headquartered? | Harmony Gold Mining is headquartered in South Africa. |
| How many employees does Harmony Gold Mining have? | As of today, Harmony Gold Mining has over 33K employees. |
| Who is the CEO of Harmony Gold Mining? | Harmony Gold Mining's CEO is Beyers Nel. |
| Is Harmony Gold Mining publicly listed? | Yes, Harmony Gold Mining is a public company listed on NYSE. |
| What is the stock symbol of Harmony Gold Mining? | Harmony Gold Mining trades under HMY ticker. |
| When did Harmony Gold Mining go public? | Harmony Gold Mining went public in 1996. |
| Who are competitors of Harmony Gold Mining? | Harmony Gold Mining main competitors are Jindal Steel, Lynas Rare Earths, Equinox Gold, Mueller Industries. |
| What is the current market cap of Harmony Gold Mining? | Harmony Gold Mining's current market cap is $14B. |
| What is the current revenue of Harmony Gold Mining? | Harmony Gold Mining's last 12 months revenue is $6B. |
| What is the current revenue growth of Harmony Gold Mining? | Harmony Gold Mining revenue growth (NTM/LTM) is 27%. |
| What is the current EV/Revenue multiple of Harmony Gold Mining? | Current revenue multiple of Harmony Gold Mining is 2.4x. |
| Is Harmony Gold Mining profitable? | Yes, Harmony Gold Mining is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Harmony Gold Mining? | Harmony Gold Mining's last 12 months EBITDA is $2B. |
| What is Harmony Gold Mining's EBITDA margin? | Harmony Gold Mining's last 12 months EBITDA margin is 45%. |
| What is the current EV/EBITDA multiple of Harmony Gold Mining? | Current EBITDA multiple of Harmony Gold Mining is 5.4x. |
| What is the current FCF of Harmony Gold Mining? | Harmony Gold Mining's last 12 months FCF is $1B. |
| What is Harmony Gold Mining's FCF margin? | Harmony Gold Mining's last 12 months FCF margin is 20%. |
| What is the current EV/FCF multiple of Harmony Gold Mining? | Current FCF multiple of Harmony Gold Mining is 12.4x. |
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