Latest Ratios: P/E Ratio 13.4x · EV/EBITDA 20.8x · ROE 28.4%. (1997–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.8B | $1.2B | $745M | $919M | $505M | $936M | $1.2B | $207M | $107M | $133M | $249M |
| Enterprise Value | $1.8B | $-133951211 | $253M | $-1501710144 | $-1957214056 | $-1189239726 | $-430554185 | $-61118001 | $-180194550 | $-103948360 | $-83506685 |
| P/E Ratio → | 13.37 | 0.51 | 0.56 | 0.72 | 0.45 | 0.65 | 0.19 | 0.27 | 1.69 | 0.98 | 0.40 |
| P/S Ratio | 3.80 | 0.15 | 0.12 | 0.17 | 0.10 | 0.18 | 0.30 | 0.08 | 0.04 | 0.06 | 0.10 |
| P/B Ratio | 3.38 | 0.13 | 0.11 | 0.15 | 0.09 | 0.19 | 0.31 | 0.08 | 0.08 | 0.10 | 0.19 |
| P/FCF | 23.86 | 0.92 | — | 1.80 | 0.55 | 0.79 | 1.31 | — | 0.99 | — | 0.79 |
| P/OCF | 8.54 | 0.33 | 0.40 | 0.55 | 0.34 | 0.59 | 1.10 | 0.72 | 0.46 | 2.58 | 0.60 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -0.02 | 0.04 | -0.27 | -0.38 | -0.23 | -0.10 | -0.02 | -0.07 | -0.04 | -0.03 |
| EV / EBITDA | 20.85 | -0.10 | 0.13 | -0.89 | -1.21 | -0.56 | -0.34 | -0.17 | -0.68 | -0.52 | -0.28 |
| EV / EBIT | 31.29 | -0.05 | 0.16 | -0.89 | -1.33 | -0.67 | -0.44 | -0.32 | -4.95 | — | -0.55 |
| EV / FCF | — | -0.11 | — | -2.94 | -2.14 | -1.01 | -0.45 | — | -1.67 | — | -0.26 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 39.7% | 39.7% | 29.0% | 28.8% | 26.9% | 35.7% | 29.8% | 7.5% | 5.7% | 1.4% | 8.1% |
| Operating Margin | 11.6% | 11.6% | 25.8% | 25.9% | 25.5% | 34.5% | 22.4% | 4.5% | 2.1% | -1.0% | 4.9% |
| Net Profit Margin | 28.5% | 28.5% | 21.3% | 23.3% | 22.0% | 27.3% | 15.2% | 2.8% | 0.3% | 0.6% | 2.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 28.4% | 28.4% | 20.2% | 21.9% | 21.9% | 32.5% | 18.9% | 4.0% | 0.5% | 1.0% | 4.3% |
| ROA | 20.7% | 20.7% | 15.1% | 16.8% | 16.7% | 24.0% | 13.0% | 2.4% | 0.3% | 0.6% | 2.5% |
| ROIC | 9.8% | 9.8% | 23.6% | 31.2% | 34.6% | 53.8% | 29.4% | 5.5% | 3.8% | -1.8% | 7.9% |
| ROCE | 9.3% | 9.3% | 20.2% | 20.5% | 21.3% | 33.8% | 22.0% | 4.4% | 2.6% | -1.2% | 5.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.01 | 0.01 | 0.01 |
| Debt / EBITDA | 0.01 | 0.01 | 0.02 | 0.02 | 0.03 | 0.03 | 0.04 | 0.03 | 0.06 | 0.08 | 0.06 |
| Net Debt / Equity | — | -0.15 | -0.07 | -0.39 | -0.45 | -0.44 | -0.41 | -0.10 | -0.23 | -0.18 | -0.25 |
| Net Debt / EBITDA | -0.94 | -0.94 | -0.26 | -1.44 | -1.52 | -1.01 | -1.32 | -0.74 | -1.08 | -1.17 | -1.11 |
| Debt / FCF | — | -1.03 | — | -4.74 | -2.70 | -1.80 | -1.76 | — | -2.66 | — | -1.05 |
| Interest Coverage | — | — | 23.85 | 20.21 | 17.93 | 30.85 | 13.63 | 1.60 | 0.89 | -0.47 | 2.52 |
Net cash position: cash ($1.3B) exceeds total debt ($17M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.28 | 2.28 | 1.57 | 4.47 | 4.92 | 5.03 | 2.94 | 1.43 | 1.95 | 2.13 | 1.92 |
| Quick Ratio | 1.76 | 1.76 | 1.08 | 3.90 | 4.30 | 4.39 | 2.50 | 0.77 | 1.23 | 1.43 | 1.40 |
| Cash Ratio | 1.30 | 1.30 | 0.55 | 3.42 | 4.02 | 4.10 | 2.30 | 0.61 | 0.94 | 0.99 | 1.12 |
| Asset Turnover | — | 0.64 | 0.66 | 0.67 | 0.72 | 0.83 | 0.74 | 0.68 | 1.06 | 1.02 | 1.01 |
| Inventory Turnover | 9.08 | 9.08 | 9.63 | 9.46 | 9.61 | 9.97 | 9.08 | 8.38 | 10.08 | 12.80 | 13.92 |
| Days Sales Outstanding | — | 15.27 | 20.65 | 8.64 | 10.19 | 9.37 | 11.01 | 8.79 | 11.58 | 17.36 | 9.79 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.4% | 37.3% | 98.2% | 56.1% | 100.0% | 68.5% | 45.6% | — | 39.4% | 38.1% | 100.0% |
| Payout Ratio | 19.2% | 19.2% | 55.1% | 40.2% | 45.7% | 44.5% | 88.9% | — | 649.2% | 369.3% | 408.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.5% | 194.3% | 178.9% | 139.4% | 223.2% | 153.6% | 513.0% | 377.0% | 59.1% | 101.6% | 249.2% |
| FCF Yield | 4.2% | 108.8% | — | 55.6% | 180.8% | 125.8% | 76.6% | — | 100.6% | — | 126.9% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% | 2.6% |
| Total Shareholder Yield | 1.4% | 37.3% | 98.2% | 56.1% | 100.0% | 68.5% | 45.6% | 0.1% | 39.4% | 38.1% | 100.0% |
| Shares Outstanding | — | $87M | $87M | $86M | $86M | $86M | $78M | $68M | $42M | $42M | $42M |
Environmental rehabilitation liability exposure
According to current market data, DRDGOLD trades at a P/E of 13.53, which appears to command a premium relative to its historical averages, suggesting that investors are pricing in the company's unique position as a low-risk tailings processor rather than a traditional, high-cost deep-level gold miner.
The valuation multiple reflects a market preference for the company's debt-free status and specialized infrastructure moat. While the P/S ratio of 3.85 may appear elevated compared to broader mining peers, it likely accounts for the superior margin profile and the absence of underground operational liabilities.
Based on reported figures, DRDGOLD has demonstrated a resilient ROIC trend, peaking at 19.9% in 2026Q2, which indicates that the company is effectively compounding capital by focusing on high-volume surface reclamation rather than the capital-intensive exploration cycles that typically dilute returns for traditional gold mining firms.
The ability to maintain double-digit returns on invested capital suggests that the company's hydraulic infrastructure is highly efficient at extracting value from low-grade tailings. Investors should monitor whether this efficiency persists as the company exhausts its most accessible deposits and faces higher processing complexity.
As reported in financial statements, the company's asset turnover remains stable at 0.33 in 2026Q2, reflecting a consistent utilization of its specialized pumping and processing infrastructure, while the cash conversion cycle has fluctuated significantly, reaching -7 days in the most recent quarter due to inventory management.
The negative cash conversion cycle suggests that the company effectively leverages its position to manage payables against its gold production timeline. However, the reliance on high-volume throughput means that any disruption in the slurry pipeline network could rapidly impair this working capital efficiency.
According to recent SEC filings, DRDGOLD maintains a debt-to-equity ratio of 0.00, a structural advantage that provides the company with significant financial flexibility and insulates it from the interest rate volatility that currently pressures more leveraged peers within the South African gold mining sector.
This pristine balance sheet allows the company to prioritize dividend distributions and self-funded infrastructure projects without the burden of debt service covenants. This lack of leverage is a critical differentiator that warrants a lower risk premium compared to peers with significant debt-to-EBITDA ratios.
The most commonly misapplied metric for DRDGOLD is the P/E ratio, which obscures the company's true nature as an environmental remediation firm, as it fails to account for the massive, non-discretionary long-term liabilities associated with tailings dam rehabilitation that are often buried in the footnotes.
Analysts should instead focus on EV/EBITDA adjusted for environmental provisions, as the standard P/E ratio ignores the potential for sudden capital calls related to regulatory compliance. Treating the company as a pure-play gold producer risks underestimating the long-term social and environmental costs inherent in its business model.
Includes 30+ ratios · 29 years · Updated daily
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Quick answers to the most common questions about buying DRD stock.
DRDGOLD Limited's current P/E ratio is 13.4x. The historical average is 1.0x. This places it at the 100th percentile of its historical range.
DRDGOLD Limited's current EV/EBITDA is 20.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 1.4x.
DRDGOLD Limited's return on equity (ROE) is 28.4%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -16.0%.
Based on historical data, DRDGOLD Limited is trading at a P/E of 13.4x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
DRDGOLD Limited's current dividend yield is 1.44% with a payout ratio of 19.2%.
DRDGOLD Limited has 39.7% gross margin and 11.6% operating margin. Operating margin between 10-20% is typical for established companies.
DRDGOLD Limited's Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.