Harmony Gold Mining Co LTD key statistics and ratios

In fiscal 2026, Harmony Gold Mining Co LTD had return on equity of 48.1%, an operating margin of 41.2%, debt equal to 12.6% of equity and a current ratio of 0.84. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Harmony Gold Mining Co LTD: financial ratios, annual
Fiscal year	2017Jun 2017	2018Jun 2018	2019Jun 2019	2020Jun 2020	2021Jun 2021	2022Jun 2022	2023Jun 2023	2024Jun 2024	2025Jun 2025	2026Jun 2026
Gross margin	−1.9%	−15.4%	−7.3%	11.4%	15.0%	1.7%	19.8%	22.8%	32.7%	44.9%
Operating margin	−5.1%	−22.8%	−9.4%	−1.2%	15.5%	−1.8%	14.4%	18.2%	27.5%	41.2%
Net margin	1.9%	−21.9%	−9.7%	−3.0%	12.2%	−2.5%	9.8%	13.4%	19.5%	29.6%
Free-cash-flow margin	−0.4%	−3.3%	−1.3%	3.8%	9.7%	1.7%	4.7%	11.8%	14.6%	15.9%
Return on equity	1.2%	−17.1%	−10.6%	−3.8%	18.8%	−3.4%	14.7%	21.9%	32.9%	48.1%
Return on assets	0.9%	−11.9%	−6.7%	−2.2%	11.1%	−2.2%	9.2%	13.9%	20.8%	28.9%
Asset turnover	0.48	0.55	0.69	0.73	0.91	0.89	0.94	1.04	1.07	0.98
Current ratio	—	1.16	1.35	1.34	1.54	1.51	1.26	1.36	1.59	0.84
Debt to equity	0.0%	22.0%	26.2%	33.0%	10.8%	10.7%	16.4%	4.5%	4.2%	12.6%
Interest cover (operating income ÷ interest)	n/m	n/m	n/m	n/m	28.3x	n/m	15.2x	26.2x	69.1x	37.7x
Effective tax rate	—	—	—	—	19.7%	—	26.1%	26.2%	31.3%	23.2%
Capital spending as % of revenue	20.0%	22.3%	18.7%	12.3%	12.3%	14.6%	15.5%	13.7%	16.0%	18.0%
Free cash flow ÷ net income	−23.8%	—	—	—	79.4%	—	47.9%	88.5%	75.0%	53.7%
Dividends ÷ net income	121.3%	—	—	—	13.4%	—	3.2%	17.5%	14.6%	15.2%
Dividends and buybacks ÷ free cash flow	—	—	—	0.3%	16.9%	60.6%	6.7%	19.8%	19.5%	28.3%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

5 of 6 checks passed · June 30, 2026

What it owns · $7.7bn

Short-term assets $1.2bnLonger-term assets $6.4bn

What it owes, and who funded it · $6.1bn

Short-term liabilities $1.5bnShareholders' equity $4.6bn

Short-term assets cover short-term liabilities $1.2bn of assets due within a year against $1.5bn of liabilities due within a year.
Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
More cash than debt $526m of cash against $0 of debt.
Debt below 40% of shareholders' equity Debt is 0% of equity.
Debt burden no higher than five years ago Debt to equity moved from 10% to 0% over five years.
A year's operating cash flow covers at least 20% of debt No debt to cover.
Operating profit covers interest at least five times over Operating income of $2.4bn against $64m of interest.

From Harmony Gold Mining Co LTD's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

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Figures from Harmony Gold Mining Co LTD's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Harmony Gold Mining Co LTD.