Latest Ratios: P/E Ratio 8.5x · EV/EBITDA 6.1x · ROE 51.0%. (1996–2025 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 | $30.1B | $39.2B | $11.8B | $12.9B | $9.3B | $9.8B | $8.2B | $5.5B | $2.9B | $3.6B | $2.4B |
| Enterprise Value | $31.5B | $40.6B | $13.9B | $14.0B | $10.0B | $10.8B | $9.3B | $7.2B | $4.6B | $4.9B | $3.6B |
| P/E Ratio → | 8.52 | 11.08 | 9.57 | 18.78 | 13.44 | 12.08 | 11.44 | 34.74 | — | — | 15.84 |
| P/S Ratio | 3.42 | 4.46 | 2.27 | 2.88 | 2.16 | 2.34 | 2.12 | 1.87 | 1.14 | 1.29 | 0.91 |
| P/B Ratio | 3.47 | 4.52 | 2.20 | 2.80 | 2.07 | 2.29 | 2.15 | 1.82 | 1.04 | 1.01 | 0.74 |
| P/FCF | 9.63 | 12.55 | 16.67 | 29.58 | 15.06 | 21.17 | 12.40 | 19.92 | — | — | 18.60 |
| P/OCF | 6.61 | 8.61 | 6.04 | 8.29 | 5.50 | 6.32 | 6.60 | 6.22 | 4.77 | 4.47 | 2.55 |
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 | — | 4.63 | 2.67 | 3.10 | 2.32 | 2.57 | 2.39 | 2.43 | 1.80 | 1.76 | 1.35 |
| EV / EBITDA | 6.09 | 7.86 | 5.11 | 6.30 | 4.58 | 4.70 | 4.34 | 5.44 | 4.73 | 4.00 | 3.15 |
| EV / EBIT | 7.41 | 9.26 | 6.86 | 10.97 | 8.14 | 7.79 | 7.14 | 15.92 | — | 20.79 | 8.28 |
| EV / FCF | — | 13.01 | 19.61 | 31.92 | 16.21 | 23.26 | 14.00 | 25.91 | — | — | 27.49 |
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 | 55.1% | 55.1% | 42.5% | 36.4% | 36.6% | 40.7% | 42.1% | 29.0% | 18.3% | 21.5% | 22.0% |
| Operating Margin | 48.4% | 48.4% | 40.2% | 31.6% | 32.7% | 36.9% | 37.5% | 23.1% | 10.5% | 16.8% | 13.6% |
| Net Profit Margin | 40.8% | 40.8% | 23.9% | 15.6% | 16.6% | 18.8% | 18.6% | 5.4% | -13.5% | -1.2% | 5.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 51.0% | 51.0% | 24.9% | 15.5% | 16.2% | 19.5% | 21.1% | 5.5% | -11.0% | -0.9% | 5.3% |
| ROA | 28.2% | 28.2% | 13.6% | 9.0% | 9.7% | 10.7% | 10.3% | 2.6% | -5.5% | -0.5% | 2.7% |
| ROIC | 36.3% | 36.3% | 24.0% | 19.7% | 20.2% | 22.9% | 22.8% | 11.1% | 4.3% | 7.5% | 6.4% |
| ROCE | 38.7% | 38.7% | 27.6% | 21.4% | 21.4% | 23.7% | 24.9% | 12.8% | 4.8% | 8.3% | 6.9% |
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 | 0.37 | 0.37 | 0.55 | 0.36 | 0.33 | 0.35 | 0.51 | 0.72 | 0.74 | 0.50 | 0.51 |
| Debt / EBITDA | 0.62 | 0.62 | 1.08 | 0.75 | 0.68 | 0.65 | 0.91 | 1.64 | 2.15 | 1.47 | 1.48 |
| Net Debt / Equity | — | 0.17 | 0.39 | 0.22 | 0.16 | 0.23 | 0.28 | 0.55 | 0.60 | 0.37 | 0.35 |
| Net Debt / EBITDA | 0.28 | 0.28 | 0.77 | 0.46 | 0.32 | 0.42 | 0.50 | 1.26 | 1.74 | 1.07 | 1.02 |
| Debt / FCF | — | 0.46 | 2.94 | 2.34 | 1.15 | 2.09 | 1.61 | 5.98 | — | — | 8.90 |
| Interest Coverage | 48.06 | 48.06 | 112.08 | 20.24 | 16.87 | 13.72 | 10.30 | 4.43 | -3.67 | 2.87 | 5.58 |
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 | 1.75 | 1.75 | 1.14 | 1.25 | 2.29 | 1.73 | 1.92 | 0.81 | 1.50 | 1.30 | 1.22 |
| Quick Ratio | 1.75 | 1.75 | 0.73 | 0.70 | 1.33 | 0.96 | 1.35 | 0.50 | 0.90 | 0.84 | 0.84 |
| Cash Ratio | 1.05 | 1.05 | 0.50 | 0.43 | 0.98 | 0.64 | 0.97 | 0.38 | 0.65 | 0.56 | 0.61 |
| Asset Turnover | — | 0.58 | 0.51 | 0.55 | 0.58 | 0.57 | 0.52 | 0.45 | 0.42 | 0.42 | 0.42 |
| Inventory Turnover | — | — | 4.28 | 3.46 | 3.58 | 3.96 | 4.32 | 5.04 | 5.72 | 5.51 | 6.31 |
| Days Sales Outstanding | — | 12.45 | 20.57 | 16.10 | 17.68 | 13.53 | 12.54 | 11.64 | 5.98 | 19.86 | 16.40 |
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 | 2.4% | 1.8% | 3.0% | 2.8% | 3.3% | 3.3% | 1.7% | 0.8% | 1.6% | 1.8% | 1.6% |
| Payout Ratio | 19.8% | 19.8% | 28.2% | 52.4% | 42.8% | 40.8% | 19.0% | 28.2% | — | — | 25.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 11.7% | 9.0% | 10.5% | 5.3% | 7.4% | 8.3% | 8.7% | 2.9% | — | — | 6.3% |
| FCF Yield | 10.4% | 8.0% | 6.0% | 3.4% | 6.6% | 4.7% | 8.1% | 5.0% | — | — | 5.4% |
| Buyback Yield | 0.1% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 2.5% | 1.9% | 3.0% | 2.8% | 3.3% | 3.3% | 1.7% | 0.8% | 1.6% | 1.8% | 1.6% |
| Shares Outstanding | — | $897M | $896M | $895M | $894M | $893M | $890M | $839M | $832M | $827M | $810M |
Geopolitical and Regulatory Volatility
According to current market data, GFI trades at a forward P/E of 5.99, which represents a significant discount to senior gold peers like Newmont and Agnico Eagle, suggesting that investors may be applying a persistent geographic risk premium to the company's South African and African operational footprint.
The low PEG ratio of 0.23 implies that the market is not fully pricing in the earnings growth potential associated with the Salares Norte ramp-up. This valuation gap warrants investigation, as it may indicate that the market is misjudging the company's successful pivot toward lower-cost, Tier-1 jurisdictions.
Based on reported financial statements, GFI's ROIC has expanded to 22.8% in 2025Q4, a marked improvement from the 8.5% observed in 2022Q4, which suggests that the company's strategic shift toward mechanized, lower-cost mining operations is successfully driving superior returns on invested capital compared to historical levels.
The upward trend in ROIC indicates that management's capital allocation toward automation and geographic diversification is yielding tangible efficiency gains. Investors should monitor whether this trajectory can be sustained as the company integrates new assets and navigates the inherent volatility of global gold price cycles.
As indicated by recent quarterly filings, GFI maintains a lean working capital profile with a DSO of 5 days and DPO of 9 days in 2025Q4, suggesting that the company exerts effective control over its cash conversion cycle despite the inherent complexities of global gold concentrate logistics.
The stability in these efficiency metrics reflects a disciplined approach to managing trade receivables and payables across diverse jurisdictions. This operational rigor appears to support the company's strong cash flow generation, providing a buffer against potential supply chain disruptions or inflationary pressures on input costs.
As reported in financial statements, GFI's debt-to-equity ratio of 0.37 and interest coverage ratio of 60.12 in 2025Q4 demonstrate a robust financial position, suggesting that the company is well-insulated from rising interest rates compared to more highly leveraged peers within the senior gold producer group.
This conservative leverage profile provides management with significant optionality for opportunistic M&A or increased shareholder returns. The ability to maintain such low debt levels while simultaneously funding large-scale projects like Salares Norte suggests a high degree of financial discipline that differentiates GFI from its more debt-burdened competitors.
The P/E ratio is frequently misapplied to GFI, as it fails to account for the non-cash nature of significant depreciation and amortization charges inherent in long-life mining assets, which can artificially depress reported earnings and obscure the company's true underlying cash-generating capacity and operational profitability.
Investors should prioritize EV/EBITDA or P/FCF metrics, as these provide a more accurate reflection of the company's ability to generate cash after accounting for the capital-intensive nature of gold production. Relying solely on P/E may lead to an undervaluation of the firm's actual economic performance.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying GFI stock.
Gold Fields Limited's current P/E ratio is 8.5x. The historical average is 19.5x. This places it at the 14th percentile of its historical range.
Gold Fields Limited's current EV/EBITDA is 6.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.2x.
Gold Fields Limited's return on equity (ROE) is 51.0%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 10.0%.
Based on historical data, Gold Fields Limited is trading at a P/E of 8.5x. This is at the 14th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Gold Fields Limited's current dividend yield is 2.36% with a payout ratio of 19.8%.
Gold Fields Limited has 55.1% gross margin and 48.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Gold Fields Limited's Debt/EBITDA ratio is 0.6x, indicating low leverage. A ratio below 2x is generally considered financially healthy.