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Harmony Gold Mining Company Limited logo
Harmony Gold Mining Company Limited HMY
$ 16.38 -6.98%
report update icon

Quarterly report 2025-Q4
added 11-09-2026

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 - - - - - - -

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 - - - - - - - - - - - - - - - - - - - - - - - - -

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.

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