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Thungela Resources Valuation Multiples
Discover revenue and EBITDA valuation multiples for Thungela Resources and similar public comparables like Karoon Energy, Greencoat Renewables, Hallador Energy, Greenfire Resources and more.
Thungela Resources Overview
About Thungela Resources
Thungela Resources Ltd is a pure-play producer and exporter of thermal coal with operations in South Africa and Australia. The group focuses on high-quality coal reserves and marketable production, positioning as a key player in the energy market by delivering coal through world-class ports, and powering nations. It owns interests in various mining operations, namely Goedehoop, Greenside, Isibonelo, Khwezela, AAIC, Mafube Coal Mining, and Butsanani Energy which consist of both underground and open cast mines located in the Mpumalanga province of South Africa. Its operational segments are Opencast, Underground, and Services.
Founded
2021
HQ
Employees
6.4K
Website
Sectors
Financials (LTM)
EV
$504M
Thungela Resources Financials
Thungela Resources reported last 12-month revenue of $2B and EBITDA of $112M.
In the same LTM period, Thungela Resources generated $2B in gross profit, $112M in EBITDA, and had net loss of ($301M).
Thungela Resources P&L
In the most recent fiscal year, Thungela Resources reported revenue of $2B and EBITDA of $83M.
Thungela Resources expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $2B | XXX | $2B | XXX | XXX | XXX |
| Gross Profit | $2B | XXX | $987M | XXX | XXX | XXX |
| Gross Margin | 100% | XXX | 56% | XXX | XXX | XXX |
| EBITDA | $112M | XXX | $83M | XXX | XXX | XXX |
| EBITDA Margin | 7% | XXX | 5% | XXX | XXX | XXX |
| EBIT Margin | (25%) | XXX | (5%) | XXX | XXX | XXX |
| Net Profit | ($301M) | XXX | ($414M) | XXX | XXX | XXX |
| Net Margin | (17%) | XXX | (24%) | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Thungela Resources Stock Performance
Thungela Resources has current market cap of $880M, and enterprise value of $504M.
Thungela Resources' stock price is $6.84.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $504M | $880M | — | XXX | XXX | XXX | $-3.22 |
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Start Free TrialThungela Resources Valuation Multiples
Thungela Resources trades at 0.3x EV/Revenue multiple, and 4.5x EV/EBITDA.
Thungela Resources Financial Valuation Multiples
As of March 29, 2026, Thungela Resources has market cap of $880M and EV of $504M.
Equity research analysts estimate Thungela Resources' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Thungela Resources has a P/E ratio of (2.9x).
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $880M | XXX | $880M | XXX | XXX | XXX |
| EV (current) | $504M | XXX | $504M | XXX | XXX | XXX |
| EV/Revenue | 0.3x | XXX | 0.3x | XXX | XXX | XXX |
| EV/EBITDA | 4.5x | XXX | 6.1x | XXX | XXX | XXX |
| EV/EBIT | (1.2x) | XXX | (5.8x) | XXX | XXX | XXX |
| EV/Gross Profit | 0.3x | XXX | 0.5x | XXX | XXX | XXX |
| P/E | (2.9x) | XXX | (2.1x) | XXX | XXX | XXX |
| EV/FCF | 1841.0x | XXX | (15.1x) | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Thungela Resources 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.
Thungela Resources Margins & Growth Rates
Thungela Resources' revenue in the last 12 month declined by (3%).
Thungela Resources' revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.3M for the same period.
Thungela Resources' rule of 40 is 4% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Thungela Resources' rule of X is (0%) (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).
Thungela Resources Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | (3%) | XXX | (5%) | XXX | XXX | XXX |
| EBITDA Margin | 7% | XXX | 5% | XXX | XXX | XXX |
| EBITDA Growth | 91% | XXX | 144% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 4% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | (0%) | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| G&A Expenses to Revenue | 0% | XXX | 2% | XXX | XXX | XXX |
| R&D Expenses to Revenue | — | XXX | 1% | XXX | XXX | XXX |
| Opex to Revenue | 94% | XXX | 61% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Thungela Resources Public Comps
See public comps and valuation multiples for other Energy Production comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Karoon Energy | XXX | XXX | XXX | XXX | XXX | XXX |
| Greencoat Renewables | XXX | XXX | XXX | XXX | XXX | XXX |
| Hallador Energy | XXX | XXX | XXX | XXX | XXX | XXX |
| Greenfire Resources | XXX | XXX | XXX | XXX | XXX | XXX |
| B.Grimm Power | 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.
Thungela Resources M&A Activity
Thungela Resources acquired XXX companies to date.
Last acquisition by Thungela Resources was on XXXXXXXX, XXXXX. Thungela Resources acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Thungela Resources
| 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 TrialThungela Resources Investment Activity
Thungela Resources invested in XXX companies to date.
Thungela Resources made its latest investment on XXXXXXXX, XXXXX. Thungela Resources invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Thungela Resources
| 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 Thungela Resources
| When was Thungela Resources founded? | Thungela Resources was founded in 2021. |
| Where is Thungela Resources headquartered? | Thungela Resources is headquartered in South Africa. |
| How many employees does Thungela Resources have? | As of today, Thungela Resources has over 6K employees. |
| Is Thungela Resources publicly listed? | Yes, Thungela Resources is a public company listed on Johannesburg Stock Exchange. |
| What is the stock symbol of Thungela Resources? | Thungela Resources trades under TGA ticker. |
| When did Thungela Resources go public? | Thungela Resources went public in 2021. |
| Who are competitors of Thungela Resources? | Thungela Resources main competitors are Karoon Energy, Greencoat Renewables, Hallador Energy, Greenfire Resources. |
| What is the current market cap of Thungela Resources? | Thungela Resources' current market cap is $880M. |
| What is the current revenue of Thungela Resources? | Thungela Resources' last 12 months revenue is $2B. |
| What is the current revenue growth of Thungela Resources? | Thungela Resources revenue growth (NTM/LTM) is (3%). |
| What is the current EV/Revenue multiple of Thungela Resources? | Current revenue multiple of Thungela Resources is 0.3x. |
| Is Thungela Resources profitable? | Yes, Thungela Resources is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Thungela Resources? | Thungela Resources' last 12 months EBITDA is $112M. |
| What is Thungela Resources' EBITDA margin? | Thungela Resources' last 12 months EBITDA margin is 7%. |
| What is the current EV/EBITDA multiple of Thungela Resources? | Current EBITDA multiple of Thungela Resources is 4.5x. |
| What is the current FCF of Thungela Resources? | Thungela Resources' last 12 months FCF is $274K. |
| What is Thungela Resources' FCF margin? | Thungela Resources' last 12 months FCF margin is 0%. |
| What is the current EV/FCF multiple of Thungela Resources? | Current FCF multiple of Thungela Resources is 1841.0x. |
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