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Harmony Gold Mining Company Limited (HMY)
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Harmony Gold Mining Company Limited Balance Sheet 2025-2011 | HMY
Brief overview of Harmony Gold Mining Company Limited's assets and capital
This overview follows the five latest available annual observations between 2016 and 2020.
Assets increased from 37.2 billion ZAR to 44.7 billion ZAR, or +20.2%; CAGR of about 4.7% indicates steady balance sheet expansion.
Liability growth of +139.8% exceeded asset growth of +20.2%, increasing reliance on outside funding.
Equity funds 52.3% of assets versus initially. This creates a conservative balance sheet structure.
Net debt equals roughly 0.05x of equity. This is a moderate load and leaves room for maneuver.
The balance sheet carries negative retained earnings of -12.6 billion ZAR. The figure may result from accumulated losses or an active capital return policy.
Overall picture
Harmony Gold Mining Company Limited's financial position is more positive than negative: the funding mix is workable, although the cushion is not unlimited.
Annual Balance Sheet Harmony Gold Mining Company Limited
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
-12.7 B | -4.19 B | -2.34 B | -2.01 B | -2.56 B | 1.17 B | 4.83 B | 4.22 B | 885 M | 1.09 B | 2.36 B | 1.04 B | 447 M | 40.8 M | 874 M |
Long Term Debt |
230 M | 246 M | 310 M | 245 M | 154 M | 7.46 B | 5.83 B | 4.93 B | 299 M | 2.06 B | 3.44 B | 2.87 B | 2.24 B | 1.5 B | 1.24 B |
Long Term Debt Current |
206 M | 260 M | 216 M | 197 M | 107 M | 60 M | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
16.6 B | 12.2 B | 15.5 B | 11.7 B | 12 B | - | 10.9 B | 10.5 B | 5.71 B | 6.85 B | 7.79 B | 7.99 B | 7.47 B | 6.65 B | 7.65 B |
Total Liabilities |
- | - | - | - | - | 21.3 B | 14.1 B | 14.2 B | 9.53 B | 8.89 B | 9.47 B | 9.84 B | 9.85 B | 9.08 B | 9.76 B |
Deferred Revenue |
- | - | - | - | - | 4.3 B | - | - | - | - | - | - | - | - | - |
Retained Earnings |
14.6 B | 2.24 B | -4.96 B | -9.64 B | -8.17 B | -12.6 B | -11.7 B | -12.1 B | -7.12 B | -7.85 B | -7.32 B | -2.37 B | -943 M | 1.47 B | -696 M |
Total Assets |
77.5 B | 60.5 B | 57.2 B | 46.8 B | 48.8 B | 44.7 B | 36.7 B | 39.5 B | 38.6 B | 37.2 B | 36.5 B | 40.9 B | 42 B | 43 B | 40.1 B |
Cash and Cash Equivalents |
13.1 B | 4.69 B | 2.87 B | 2.45 B | 2.82 B | 6.36 B | 993 M | 706 M | 1.25 B | - | - | - | - | - | - |
Book Value |
77.5 B | 60.5 B | 57.2 B | 46.8 B | 48.8 B | 23.4 B | 22.6 B | 25.4 B | 29.1 B | 28.3 B | 27 B | 31 B | 32.1 B | 33.9 B | 30.4 B |
Total Shareholders Equity |
48.5 B | 40.9 B | 34.9 B | 30.1 B | 31.2 B | 23.4 B | 22.6 B | 25.5 B | - | - | - | - | - | - | - |
Annual performance
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All numbers in ZAR currency
Quarterly Balance Sheet Harmony Gold Mining Company Limited
| 2025-Q4 | 2025-Q2 | 2024-Q4 | 2024-Q2 | 2023-Q4 | 2023-Q2 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
230 M | 230 M | 246 M | 246 M | 310 M | 310 M | 245 M | - | - | - | 154 M | - | 154 M | - | 81 M | - | 81 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
16.6 B | 16.6 B | 12.2 B | 12.2 B | 15.5 B | 15.5 B | 11.7 B | - | - | - | 12 B | - | 12 B | - | 13.8 B | - | 13.8 B | - | 10.9 B | - | 10.9 B | - | 10.5 B | - | 10.5 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
14.6 B | 14.6 B | 2.24 B | 2.24 B | -4.96 B | -4.96 B | -9.64 B | - | - | - | -8.17 B | - | -8.17 B | - | -12.6 B | - | -12.6 B | - | -11.7 B | - | -11.7 B | - | -9.1 B | - | -9.1 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
77.5 B | 77.5 B | 60.5 B | 60.5 B | 57.2 B | 57.2 B | 46.8 B | - | - | - | 48.8 B | - | 48.8 B | - | 44.7 B | - | 44.7 B | - | 36.7 B | - | 36.7 B | - | 39.5 B | - | 39.5 B | - | - | - | 38.9 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
13.1 B | 13.1 B | 4.69 B | 4.69 B | 2.87 B | 2.87 B | 2.45 B | - | - | - | 2.82 B | - | 2.82 B | - | 6.36 B | - | 6.36 B | - | 993 M | - | 993 M | - | 706 M | - | 706 M | - | - | - | 1.25 B | - | - | - | 1.26 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
77.5 B | 77.5 B | 60.5 B | 60.5 B | 57.2 B | 57.2 B | 46.8 B | - | - | - | 48.8 B | - | 48.8 B | - | 44.7 B | - | 44.7 B | - | 36.7 B | - | 36.7 B | - | 39.5 B | - | 39.5 B | - | - | - | 38.9 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
48.5 B | 48.5 B | 40.9 B | 40.9 B | 34.9 B | 34.9 B | 30.1 B | - | - | - | 31.2 B | - | 31.2 B | - | 23.4 B | - | 23.4 B | - | 22.6 B | - | 22.6 B | - | 25.4 B | - | 25.4 B | - | - | - | 29.3 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quarterly performance
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All numbers in ZAR currency
Balance Sheet is a fundamental financial report of Harmony Gold Mining Company Limited, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.