Harmony Gold Mining Co vs PAN American Silver
Harmony Gold Mining Co is the larger business, with $5.88bn of revenue in fiscal 2026 against $3.62bn for PAN American Silver (1.6 times as much). Harmony Gold Mining Co grew faster (44.4% against 28.4%). Harmony Gold Mining Co kept more of each dollar of sales as profit: a net margin of 29.6% against 27.1%. PAN American Silver carries less debt relative to equity (10.2% against 12.6%).
| Latest fiscal year | Harmony Gold Mining CoHMY, 2026 | PAN American SilverPAAS, 2025 |
|---|---|---|
| Revenue | $5.88bn | $3.62bn |
| Revenue growth | 44.4% | 28.4% |
| Net income | $1.74bn | $980m |
| Operating margin | 41.2% | 34.1% |
| Net margin | 29.6% | 27.1% |
| Return on equity | 48.1% | 16.8% |
| Free cash flow | $934m | $1.02bn |
| Cash | $526m | $1.22bn |
| Total debt | $578m | $714m |
| Debt to equity | 12.6% | 10.2% |
| Dividend per share | — | — |
| Dividend yield | 2.8% | 1.2% |
| Share buybacks | — | $46.0m |
| Employees | — | — |
| Market value | $9.57bn | $14.56bn |
| Price vs our value range | Below our value range | Below our value range |
| Moat score | — | — |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 0 sales |