Harmony GLD Mng (HGMCF) Financials
Newest figures come from the 20-F for FY2026, filed Oct 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the HGMCF SEC filings page.
Harmony GLD Mng Ltd (HGMCF) reported $6.1B in revenue for fiscal year 2026, up 45.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (20-F and 6-K reports).
Rapid expansion has widened margins sharply, but Harmony’s mining growth is also demanding heavier reinvestment and tighter short-term funding.
In FY2026, revenue grew45.1% while operating income grew117.1% , indicating the cost base was absorbed faster than sales. Operating cash flow conversion reached114.5% of net income, while capital expenditure consumed53.1% of operating cash flow; earnings became cash, but expansion absorbed much of it.
Gross margin reached
Long-term debt fell to
Financial Health Signals
We do not publish a peer-relative financial health score for Harmony GLD Mng Ltd, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Harmony GLD Mng Ltd scores 4.60, well above the 2.99 safe threshold. The largest contribution to the score comes from a market capitalization of $12.2B against total liabilities of $3.1B. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Harmony GLD Mng Ltd passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, 1 of 2 operating efficiency signals passes.
For every $1 of reported earnings, Harmony GLD Mng Ltd generates $1.15 in operating cash flow ($2.1B OCF vs $1.8B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Harmony GLD Mng Ltd earns $21.21 in operating income for every $1 of interest expense ($2.5B vs $117.6M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Harmony GLD Mng Ltd generated $6.1B in revenue in fiscal year 2026. This represents an increase of 45.1% from the prior year.
Harmony GLD Mng Ltd's EBITDA was $2.9B in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 106.9% from the prior year.
Harmony GLD Mng Ltd reported $1.8B in net income in fiscal year 2026. This represents an increase of 120.5% from the prior year.
Harmony GLD Mng Ltd earned $2.83 per diluted share (EPS) in fiscal year 2026. This represents an increase of 118.8% from the prior year.
Cash & Balance Sheet
Harmony GLD Mng Ltd generated $961.9M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 57.9% from the prior year.
Harmony GLD Mng Ltd held $526.1M in cash against $0 in long-term debt as of fiscal year 2026, with $1.5B of liabilities due within a year.
Not reported for fiscal year 2026.
Margins & Returns
Harmony GLD Mng Ltd's gross margin was 44.9% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 12.1 percentage points from the prior year.
Harmony GLD Mng Ltd's operating margin was 41.2% in fiscal year 2026, reflecting core business profitability. This is up 13.7 percentage points from the prior year.
Harmony GLD Mng Ltd's net profit margin was 29.6% in fiscal year 2026, showing the share of revenue converted to profit. This is up 10.1 percentage points from the prior year.
Harmony GLD Mng Ltd's ROE was 39.1% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is up 9.3 percentage points from the prior year.
Capital Allocation
Harmony GLD Mng Ltd invested $1.1B in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 62.7% from the prior year.
Not reported for fiscal year 2026.
Not reported for fiscal year 2026.
HGMCF Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2620-F | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.1B+45.1% | $4.2B+23.9% | $3.4B+28.8% | $2.6B0.0% | $2.6B-10.5% | $2.9B+73.3% | $1.7B-11.4% | $1.9B+27.6% | $1.5B+0.2% | $1.5B+17.8% | $1.3B |
| Cost of Revenue | $3.3B+19.0% | $2.8B+8.1% | $2.6B+23.5% | $2.1B-18.4% | $2.6B+3.5% | $2.5B+66.3% | $1.5B-26.9% | $2.0B+18.6% | $1.7B+13.4% | $1.5B | N/A |
| Gross Profit | $2.7B+98.6% | $1.4B+76.5% | $776.0M+50.1% | $516.9M+1074.1% | $44.0M-89.9% | $436.9M+127.2% | $192.3Mn/m | -$138.4Mn/m | -$229.3Mn/m | -$28.6M | N/A |
| Operating Income | $2.5B+117.1% | $1.1B+79.4% | $640.5M+70.2% | $376.5Mn/m | -$46.3M-110.3% | $451.4Mn/m | -$20.6Mn/m | -$179.5Mn/m | -$339.8Mn/m | -$75.9M | N/A |
| EBITDA | $2.9B+106.9% | $1.4B+58.9% | $895.2M+59.9% | $559.7M+211.8% | $179.5M-75.2% | $722.7M+298.1% | $181.5M+69.3% | $107.2Mn/m | -$152.4M-230.9% | $116.5M | N/A |
| Interest Expense | $117.6M+198.5% | $39.4M-9.8% | $43.7M-17.2% | $52.7M+19.8% | $44.0M-4.8% | $46.3M+21.4% | $38.1M-6.3% | $40.7M+69.0% | $24.1M+34.6% | $17.9M-5.9% | $19.0M |
| Income Tax | $543.2M+44.5% | $375.8M+122.3% | $169.1M+84.9% | $91.4Mn/m | -$2.8M-103.2% | $88.0M+499.1% | $14.7Mn/m | -$9.8Mn/m | -$17.1Mn/m | -$39.0M-190.6% | $43.0M |
| Net Income | $1.8B+120.5% | $811.9M+72.3% | $471.1M+84.2% | $255.8Mn/m | -$64.5M-118.1% | $356.0Mn/m | -$50.6Mn/m | -$184.4Mn/m | -$326.2M-1279.8% | $27.6M-58.1% | $66.0M |
| EPS (Basic) | $2.87+119.6% | $1.31+71.7% | $0.76+83.7% | $0.41n/m | -$0.11-117.9% | $0.59n/m | -$0.09n/m | -$0.35n/m | -$0.73-1268.4% | $0.06 | N/A |
| EPS (Diluted) | $2.83+118.8% | $1.29+72.6% | $0.75+81.5% | $0.41n/m | -$0.11-118.3% | $0.58n/m | -$0.10n/m | -$0.35n/m | -$0.73-1314.3% | $0.06 | N/A |
| Diluted Shares (Avg) | 634M+0.8% | 629M-0.2% | 630M+1.5% | 620M+1.0% | 615M-0.3% | 616M+12.6% | 547M+2.6% | 533M+14.6% | 465M+1.3% | 459M+2.9% | 446M |
Not reported in any period shown, so not listed: R&D Expenses, SG&A Expenses.
HGMCF Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2620-F | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $7.7B+75.7% | $4.4B+31.9% | $3.3B+9.2% | $3.0B+5.8% | $2.9B-16.0% | $3.4B+32.6% | $2.6B-0.9% | $2.6B-9.9% | $2.9B-3.0% | $3.0B+18.1% | $2.5B |
| Current Assets | $1.2B+3.3% | $1.2B+90.7% | $630.7M+37.0% | $460.5M+0.2% | $459.5M-23.2% | $598.4M+2.1% | $585.9M+89.3% | $309.5M+1.5% | $304.9M | N/A | N/A |
| Cash & Equivalents | $526.1M-28.9% | $739.5M+187.2% | $257.5M+69.2% | $152.1M+1.4% | $150.1M-23.9% | $197.3M-46.2% | $366.3M+421.7% | $70.2M+36.4% | $51.5M-45.9% | $95.2M+12.0% | $85.0M |
| Inventory | $297.4M+37.7% | $215.9M+9.2% | $197.7M+14.1% | $173.3M+0.3% | $172.8M-2.9% | $177.9M+27.5% | $139.5M+0.3% | $139.1M+8.4% | $128.3M | N/A | N/A |
| Accounts Receivable | $365.8M+61.9% | $225.9M+58.1% | $142.9M+12.4% | $127.1M+23.2% | $103.1M-10.8% | $115.6M+53.4% | $75.4M+0.2% | $75.2M-9.4% | $83.1M | N/A | N/A |
| Goodwill | $157.3M+46335.2% | $339K-67.5% | $1.0Mn/m | $0n/m | $0-100.0% | $23.3M-22.2% | $30.0M-18.5% | $36.8M-4.1% | $38.4M | N/A | N/A |
| Total Liabilities | $3.1B+87.9% | $1.7B+53.0% | $1.1B-9.5% | $1.2B+16.0% | $1.0B-16.7% | $1.2B+0.5% | $1.2B+23.0% | $998.7M-3.1% | $1.0B+40.7% | $732.6M+21.9% | $601.0M |
| Current Liabilities | $1.5B+112.1% | $699.2M+73.2% | $403.7M+10.8% | $364.4M+19.5% | $305.0M-21.5% | $388.6M-10.8% | $435.7M+90.5% | $228.7M-12.9% | $262.5M | N/A | N/A |
| Non-Current Liabilities | $1.6B+71.2% | $937.1M+40.6% | $666.7M-18.9% | $822.2M+14.5% | $718.3M-14.7% | $842.3M+6.2% | $792.8M+3.0% | $770.0M+0.2% | $768.6M | N/A | N/A |
| Long-Term Debt | $0-100.0% | $106.9M+9.2% | $97.9M-67.0% | $296.7M+52.2% | $195.0M-6.3% | $208.1M-51.6% | $430.1M+4.4% | $412.0M+14.7% | $359.1M | N/A | N/A |
| Total Equity | $4.6B+68.3% | $2.7B+21.7% | $2.2B+21.3% | $1.8B+0.1% | $1.8B-15.5% | $2.2B+61.9% | $1.3B-15.8% | $1.6B-13.6% | $1.9B-17.3% | $2.2B+16.9% | $1.9B |
| Retained Earnings | $2.3B+183.6% | $823.2M+570.5% | $122.8Mn/m | -$262.9Mn/m | -$591.0Mn/m | -$571.9Mn/m | -$725.1Mn/m | -$828.1Mn/m | -$663.8M | N/A | N/A |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.
HGMCF Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2620-F | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.1B+60.4% | $1.3B+48.9% | $858.6M+62.6% | $527.9M+24.4% | $424.5M-33.9% | $642.3M+136.0% | $272.2M-17.7% | $330.9M+16.8% | $283.2M-2.5% | $290.5M-6.9% | $312.0M |
| Depreciation & Amortization | $447.5M+63.7% | $273.3M+7.3% | $254.7M+38.9% | $183.3M-18.8% | $225.8M-16.8% | $271.3M+34.2% | $202.2M-29.5% | $286.7M+53.0% | $187.4M-2.6% | $192.4M+29.1% | $149.0M |
| Capital Expenditures | $1.1B+62.7% | $669.1M+45.2% | $460.7M+13.6% | $405.4M+6.4% | $381.0M+5.9% | $359.8M+73.0% | $208.0M-41.6% | $356.2M+7.1% | $332.7M+12.0% | $297.1M+76.9% | $168.0M |
| Free Cash Flow | $961.9M+57.9% | $609.1M+53.1% | $397.8M+224.8% | $122.5M+181.4% | $43.5M-84.6% | $282.5M+340.4% | $64.1Mn/m | -$25.2Mn/m | -$49.4Mn/m | -$6.6M-104.6% | $144.0M |
| Investing Cash Flow | -$2.3Bn/m | -$674.8Mn/m | -$458.7Mn/m | -$562.3Mn/m | -$380.1Mn/m | -$592.3Mn/m | -$205.0Mn/m | -$339.3Mn/m | -$588.9Mn/m | -$258.4Mn/m | -$180.0M |
| Financing Cash Flow | -$20.7Mn/m | -$125.0Mn/m | -$298.2M-570.6% | $63.4Mn/m | -$70.6Mn/m | -$300.8M-221.3% | $248.1M+823.2% | $26.9M-90.1% | $271.5Mn/m | -$34.4Mn/m | -$114.0M |
| Dividends Paid | $272.2M+129.7% | $118.5M+50.4% | $78.8M+864.7% | $8.2M-69.0% | $26.4M-44.9% | $47.9M+27586.3% | $173Kn/m | $0-100.0% | $11.2M-66.5% | $33.5Mn/m | $0 |
Not reported in any period shown, so not listed: Stock-Based Compensation, Share Buybacks.
HGMCF Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2620-F | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.9%+12.1pp | 32.8%+9.8pp | 23.1%+3.3pp | 19.8%+18.1pp | 1.7%-13.3pp | 15.0%+3.6pp | 11.4%+18.7pp | -7.3%+8.1pp | -15.4%-13.5pp | -1.9% | N/A |
| Operating Margin | 41.2%+13.7pp | 27.6%+8.5pp | 19.0%+4.6pp | 14.4%+16.2pp | -1.8%-17.2pp | 15.5%+16.7pp | -1.2%+8.2pp | -9.4%+13.4pp | -22.8%-17.7pp | -5.1% | N/A |
| Net Margin | 29.6%+10.1pp | 19.5%+5.5pp | 14.0%+4.2pp | 9.8%+12.3pp | -2.5%-14.7pp | 12.2%+15.2pp | -3.0%+6.7pp | -9.7%+12.2pp | -21.9%-23.7pp | 1.9%-3.4pp | 5.2% |
| Return on Equity | 39.1%+9.3pp | 29.8%+8.8pp | 21.1%+7.2pp | 13.9%+17.4pp | -3.5%-19.8pp | 16.3%+20.1pp | -3.8%+7.8pp | -11.5%+6.1pp | -17.6%-18.9pp | 1.2%-2.2pp | 3.5% |
| Return on Assets | 23.3%+4.7pp | 18.6%+4.4pp | 14.2%+5.8pp | 8.4%+10.7pp | -2.3%-12.7pp | 10.4%+12.4pp | -2.0%+5.1pp | -7.1%+4.2pp | -11.3%-12.3pp | 0.9%-1.7pp | 2.6% |
| Current Ratio | 0.84-0.9x | 1.72+0.2x | 1.56+0.3x | 1.26-0.2x | 1.510.0x | 1.54+0.2x | 1.340.0x | 1.35+0.2x | 1.16 | N/A | N/A |
| Debt-to-Equity | 0.000.0x | 0.040.0x | 0.04-0.1x | 0.16+0.1x | 0.110.0x | 0.10-0.2x | 0.32+0.1x | 0.26+0.1x | 0.19 | N/A | N/A |
| Liabilities-to-Equity | 0.68+0.1x | 0.61+0.1x | 0.48-0.2x | 0.65+0.1x | 0.560.0x | 0.57-0.3x | 0.91+0.3x | 0.62+0.1x | 0.56+0.2x | 0.330.0x | 0.31 |
| Asset Turnover | 0.79-0.2x | 0.95-0.1x | 1.02+0.2x | 0.86-0.1x | 0.91+0.1x | 0.86+0.2x | 0.65-0.1x | 0.73+0.2x | 0.520.0x | 0.500.0x | 0.50 |
| FCF Margin | 15.9%+1.3pp | 14.6%+2.8pp | 11.8%+7.1pp | 4.7%+3.0pp | 1.7%-8.0pp | 9.7%+5.9pp | 3.8%+5.1pp | -1.3%+2.0pp | -3.3%-2.9pp | -0.4%-11.8pp | 11.4% |
Note: The current ratio is below 1.0 (0.84), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Where Harmony GLD Mng Ltd Ranks
Frequently Asked Questions
Harmony GLD Mng Ltd (HGMCF) reported $6.1B in total revenue for fiscal year 2026. This represents a 45.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Harmony GLD Mng Ltd (HGMCF) revenue grew by 45.1% year-over-year, from $4.2B to $6.1B in fiscal year 2026.
Yes, Harmony GLD Mng Ltd (HGMCF) reported a net income of $1.8B in fiscal year 2026, with a net profit margin of 29.6%.
Harmony GLD Mng Ltd (HGMCF) had EBITDA of $2.9B in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
As of fiscal year 2026, Harmony GLD Mng Ltd (HGMCF) had $526.1M in cash and equivalents against $0 in long-term debt.
Harmony GLD Mng Ltd (HGMCF) had a gross margin of 44.9% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
Harmony GLD Mng Ltd (HGMCF) had an operating margin of 41.2% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
Harmony GLD Mng Ltd (HGMCF) had a net profit margin of 29.6% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
Harmony GLD Mng Ltd (HGMCF) has a return on equity of 39.1% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
Harmony GLD Mng Ltd (HGMCF) generated $961.9M in free cash flow during fiscal year 2026. This represents a 57.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
Harmony GLD Mng Ltd (HGMCF) generated $2.1B in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
Harmony GLD Mng Ltd (HGMCF) had $7.7B in total assets as of fiscal year 2026, including both current and long-term assets.
Harmony GLD Mng Ltd (HGMCF) invested $1.1B in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
Harmony GLD Mng Ltd (HGMCF) had a current ratio of 0.84 as of fiscal year 2026, which is below 1.0, which may suggest potential liquidity concerns.
Harmony GLD Mng Ltd (HGMCF) had a debt-to-equity ratio of 0.00 as of fiscal year 2026. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Harmony GLD Mng Ltd (HGMCF) had a liabilities-to-equity ratio of 0.68 as of fiscal year 2026, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
Harmony GLD Mng Ltd (HGMCF) had a return on assets of 23.3% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
Harmony GLD Mng Ltd (HGMCF) has an Altman Z-Score of 4.60, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
Harmony GLD Mng Ltd (HGMCF) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Harmony GLD Mng Ltd (HGMCF) has an earnings quality ratio of 1.15x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Harmony GLD Mng Ltd (HGMCF) has an interest coverage ratio of 21.21x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.