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Anglogold AshantiFRA:HT3 -0.34%76 Degree of Operating Leverage is 2.02 as of Jun. 2026. GuruFocus rates FRA:HT3 with a GF Score™ of 76/100 and a GF Value™ of €52.17 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 748 Metals & Mining companies, Anglogold Ashanti ranks worse than 62.3% on this metric.
Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue.
Anglogold Ashanti's Degree of Operating Leverage for the quarter that ended in Jun. 2026 was 2.02. The higher Degree of Operating Leverage, the higher operating risk the company will take.
The industry rank for Anglogold Ashanti's Degree of Operating Leverage or its related term are showing as below:
FRA:HT3's Degree of Operating Leverage is ranked worse than 62.3% of 748
companies
in the Metals & Mining industry
Industry Median: 1.23
vs FRA:HT3: 2.02
Anglogold Ashanti (FRA:HT3) Degree of Operating Leverage Explanation
Degree of Operating Leverage (DOL) is a leverage ratio that measures the sensitivity of a company’s operting income, also referred to as Earnings Before Interest and Taxes (EBIT), to fluctuations in its Revenue. DOL is a method used to quantify a company’s operating risk. This risk is related to the company's structure of variable costs and fixed costs. Since the fixed costs do not allow the company to adjust the operating costs, the operating risk rises with a higher fixed-to-variable costs proportion.
A high Degree of Operating Leverage indicates that the company’s fixed costs exceed its variable costs. By increasing the sales, the company can earn more profits. In addition, the company must be able to maintain relatively high sales to cover all fixed costs.
Be Aware
The use of operating leverage varies across different industries and business sectors, and the application of Degree of Operating Leverage (DOL) should be adjusted accordingly.
Anglogold Ashanti Degree of Operating Leverage Related Terms
Anglogold Ashanti Degree of Operating Leverage Historical Data
* Premium members only.
The historical data trend for Anglogold Ashanti's Degree of Operating Leverage can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Anglogold Ashanti Degree of Operating Leverage Chart
FRA:HT3 vs RGLD, CDE, AUGO: Degree of Operating Leverage Comparison
For the Gold subindustry, Anglogold Ashanti's Degree of Operating Leverage, along with its competitors' market caps and Degree of Operating Leverage data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Anglogold Ashanti Degree of Operating Leverage vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Anglogold Ashanti's Degree of Operating Leverage distribution charts can be found below:
* The bar in red indicates where Anglogold Ashanti's Degree of Operating Leverage falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
** TTM data of EBIT and Revenue was used to calculate Degree of Operating Leverage.
*** Please be aware that the Degree of Operating Leverage calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
What does a Degree of Operating Leverage of 2.02 mean?
Anglogold Ashanti (FRA:HT3) has a Degree of Operating Leverage of 2.02 as of Jun. 2026. Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue. View historical data for Anglogold Ashanti and its competitors. According to the industry distribution chart, Anglogold Ashanti ranks #466 out of 748 companies in the Metals & Mining industry, placing it in the top 62.3%.
Is Anglogold Ashanti's Degree of Operating Leverage too high?
Anglogold Ashanti's current Degree of Operating Leverage is 2.02. The Metals & Mining industry median Degree of Operating Leverage is 1.23. Anglogold Ashanti's value of 2.02 is 64.2% above this industry median. Based on the distribution chart, Anglogold Ashanti ranks #466 out of 748 companies in the Metals & Mining industry, which is below the industry midpoint. Overall, Anglogold Ashanti has a GF Score™ of 76/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Anglogold Ashanti's Degree of Operating Leverage compare to RGLD and CDE?
According to the Metals & Mining industry distribution chart, Anglogold Ashanti ranks #466 out of 748 companies for Degree of Operating Leverage. This places Anglogold Ashanti in the lower half of its industry. The industry median Degree of Operating Leverage is 1.23. Anglogold Ashanti's value of 2.02 is 64.2% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Degree of Operating Leverage for a Metals & Mining company?
The median Degree of Operating Leverage among Metals & Mining companies is 1.23, based on 748 companies in the industry. Companies in the top quartile (top 25%) have a Degree of Operating Leverage significantly above this median, while those in the bottom quartile fall well below. However, Degree of Operating Leverage should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Anglogold Ashanti's current Degree of Operating Leverage of 2.02 is 64.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Degree of Operating Leverage mean?
A high Degree of Operating Leverage can signal that a stock is expensive relative to its fundamentals. Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue. View historical data for Anglogold Ashanti and its competitors. For the Metals & Mining industry, the median Degree of Operating Leverage is 1.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Anglogold Ashanti's current Degree of Operating Leverage is 2.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Anglogold Ashanti stock overvalued right now?
Based on GuruFocus' analysis, Anglogold Ashanti (FRA:HT3) is currently considered Significantly Overvalued. The stock's GF Value™ is €52.17, compared to a current price of €94.00 — trading 80.2% above its estimated fair value. The current Degree of Operating Leverage is 2.02 and 64.2% above the Metals & Mining industry median of 1.23. Anglogold Ashanti's overall GF Score™ is 76/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Degree of Operating Leverage calculated?
Degree of Operating Leverage is calculated from a company's financial statements. For Anglogold Ashanti (FRA:HT3), the current Degree of Operating Leverage is 2.02 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Anglogold Ashanti (FRA:HT3) Overvalued in 2026?
Based on GuruFocus' analysis, Anglogold Ashanti stock appears to be overvalued.
The current stock price of €94.00 is trading 80.2% above its estimated GF Value™ of €52.17.
GuruFocus considers Anglogold Ashanti to be Significantly Overvalued.
Key valuation signals for FRA:HT3:
Degree of Operating Leverage: 2.02
GF Value™: €52.17 vs. price of €94.00 (80.2% above fair value)
Industry Position: 64.2% above the Metals & Mining median (#466 of 748)
No single metric tells the full story. See the FRA:HT3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Anglogold Ashanti PLC is an independent gold mining company. It has a diversified asset portfolio, including production from operations in eight countries (Argentina, Australia, Brazil, Egypt, Ghana, Guinea, the DRC, and Tanzania), supported by greenfield projects in the United States and Colombia. The company's main product is gold, which once mined, is processed into dore (unrefined gold bars) on site and then dispatched to precious metals refineries. Geographically, Anglogold generates maximum revenue from its operations in Africa (comprising operations at Kibali, Iduapriem, Obuasi, Siguiri, Geita, and Sukari mines), followed by Australia (including Sunrise Dam and Tropicana), and the Americas (comprising Cerro Vanguardia, AngloGold Ashanti Mineracao, and Serra Grande operations).
76GF Score
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