H 
27,702.00
+1.38%
Close of 6 Nov 2026, in ZAc
At a glance
Figures in ZAR, from our data supplier.
Revenue
ZAR 108.89bn
FY2017FY2026
Net income
ZAR 29.35bn
FY2017FY2026
Free cash flow
ZAR 15.77bn
FY2017FY2026
Shareholders' equity
ZAR 75.09bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ZAR 108.89bn | ZAR 73.90bn | ZAR 61.38bn | ZAR 49.27bn | ZAR 42.65bn | ZAR 41.73bn | ZAR 29.25bn | ZAR 26.93bn | ZAR 21.85bn | ZAR 18.43bn |
| Research and development | — | — | — | — | — | — | ZAR 288,033 | — | — | — |
| Operating income | ZAR 48.54bn | ZAR 20.36bn | ZAR 11.78bn | ZAR 7.09bn | −ZAR 755.0m | ZAR 6.45bn | −ZAR 191.0m | −ZAR 2.44bn | −ZAR 4.61bn | −ZAR 2.04bn |
| Net income | ZAR 29.35bn | ZAR 14.38bn | ZAR 8.59bn | ZAR 4.82bn | −ZAR 1.05bn | ZAR 5.09bn | −ZAR 878.0m | −ZAR 2.62bn | −ZAR 4.43bn | ZAR 221.3m |
| Diluted earnings per share | 46.96 | 22.76 | 13.74 | 7.76 | -1.70 | 8.24 | -1.43 | -4.73 | -8.60 | 0.49 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ZAR 125.99bn | ZAR 77.50bn | ZAR 60.46bn | ZAR 57.24bn | ZAR 46.81bn | ZAR 49.50bn | ZAR 44.69bn | ZAR 36.89bn | ZAR 39.49bn | ZAR 38.60bn |
| Cash and short-term investments | ZAR 9.49bn | ZAR 13.10bn | ZAR 4.73bn | ZAR 2.87bn | ZAR 2.45bn | ZAR 2.82bn | ZAR 6.36bn | ZAR 993.1m | ZAR 703.6m | ZAR 1.24bn |
| Total liabilities | ZAR 50.61bn | ZAR 28.99bn | ZAR 19.51bn | ZAR 22.36bn | ZAR 16.69bn | ZAR 17.82bn | ZAR 21.32bn | ZAR 14.19bn | ZAR 14.17bn | ZAR 9.53bn |
| Debt | — | ZAR 2.39bn | ZAR 2.30bn | ZAR 6.22bn | ZAR 3.65bn | ZAR 3.62bn | ZAR 7.86bn | ZAR 5.92bn | ZAR 5.61bn | ZAR 2.13bn |
| Shareholders' equity | ZAR 75.09bn | ZAR 48.23bn | ZAR 40.77bn | ZAR 34.76bn | ZAR 30.04bn | ZAR 31.63bn | ZAR 23.37bn | ZAR 22.70bn | ZAR 25.32bn | ZAR 29.08bn |
| Shares outstanding | 625m | 632m | 625m | 621m | 620m | 617m | 616m | 555m | 515m | 455m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ZAR 33.61bn | ZAR 22.65bn | ZAR 15.65bn | ZAR 9.95bn | ZAR 6.92bn | ZAR 9.18bn | ZAR 272.1m | ZAR 4.68bn | ZAR 4.18bn | ZAR 3.64bn |
| Capital spending | −ZAR 17.84bn | −ZAR 11.86bn | −ZAR 8.40bn | −ZAR 7.64bn | −ZAR 6.21bn | −ZAR 5.14bn | −ZAR 208.0m | −ZAR 5.04bn | −ZAR 4.91bn | −ZAR 3.72bn |
| Free cash flow | ZAR 15.77bn | ZAR 10.79bn | ZAR 7.25bn | ZAR 2.31bn | ZAR 710.0m | ZAR 4.04bn | ZAR 64.1m | −ZAR 354.7m | −ZAR 731.2m | −ZAR 78.1m |
| Dividends paid | −ZAR 4.46bn | −ZAR 2.06bn | −ZAR 1.44bn | −ZAR 154.0m | −ZAR 430.0m | −ZAR 684.0m | −ZAR 3.0m | −ZAR 3.0m | −ZAR 165.6m | −ZAR 429.5m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ZAR 60.00bn | ZAR 48.88bn | ZAR 36.76bn | ZAR 37.14bn | ZAR 29.82bn | ZAR 31.83bn | ZAR 15.81bn | ZAR 26.51bn |
| Operating income | ZAR 28.21bn | ZAR 20.32bn | ZAR 10.35bn | ZAR 10.00bn | ZAR 6.75bn | ZAR 7.52bn | ZAR 3.75bn | ZAR 6.22bn |
| Net income | ZAR 19.60bn | ZAR 9.75bn | ZAR 6.53bn | ZAR 7.86bn | ZAR 2.67bn | ZAR 5.92bn | ZAR 2.98bn | ZAR 2.98bn |
| Diluted earnings per share | 31.36 | 15.43 | 10.33 | 12.57 | 4.27 | 9.53 | 4.80 | 4.80 |
| Cash from operations | ZAR 19.76bn | ZAR 13.85bn | ZAR 12.46bn | ZAR 10.19bn | ZAR 8.65bn | ZAR 7.00bn | ZAR 3.52bn | ZAR 6.88bn |
| Capital spending | −ZAR 9.73bn | −ZAR 8.12bn | −ZAR 7.05bn | −ZAR 4.81bn | −ZAR 4.53bn | −ZAR 3.87bn | −ZAR 1.95bn | −ZAR 3.99bn |
| Free cash flow | ZAR 10.04bn | ZAR 5.73bn | ZAR 5.41bn | ZAR 5.38bn | ZAR 4.13bn | ZAR 3.13bn | ZAR 1.57bn | ZAR 2.89bn |
| Total assets | ZAR 125.99bn | ZAR 114.63bn | ZAR 77.50bn | ZAR 68.90bn | ZAR 60.46bn | ZAR 59.79bn | ZAR 60.17bn | ZAR 57.24bn |
| Cash and short-term investments | ZAR 9.49bn | ZAR 7.68bn | ZAR 13.10bn | ZAR 9.40bn | ZAR 4.73bn | ZAR 3.72bn | ZAR 3.46bn | ZAR 2.87bn |
| Debt | ZAR 9.48bn | ZAR 12.89bn | ZAR 59.0m | ZAR 2.11bn | ZAR 2.05bn | ZAR 3.36bn | ZAR 14.1m | ZAR 5.71bn |
| Shareholders' equity | ZAR 75.09bn | ZAR 51.88bn | ZAR 48.23bn | ZAR 45.83bn | ZAR 40.77bn | ZAR 39.83bn | ZAR 40.09bn | ZAR 34.76bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 30.3% | 21.1% | 19.3% |
| Operating income | 89.8% | 49.7% | 40.6% |
| Net income | 82.6% | 42.0% | 41.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 37.7% | 29.9% | 24.7% | 17.4% |
| Net margin | 23.9% | 19.5% | 16.2% | 11.0% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 5.3 | 14.8 | 11.0 | 15.4 | -34.6 | 8.1 | -50.2 | -10.8 | -2.9 | 46.8 |
| Price to sales | 1.4 | 2.9 | 1.5 | 1.5 | 0.8 | 1.0 | 1.5 | 1.1 | 0.6 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 22 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 6.85 | 3.26 | 2.22 | 0.22 | 0.67 | 1.10 | 0.35 | 1.00 |
- 1-to-1 reverse split · 15 Sept 2003
- 1-to-1 reverse split · 15 Oct 2001
- 1-to-1 reverse split · 11 May 1998
- 1-to-1 reverse split · 9 Jun 1997
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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