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Merafe ResourcesJSE:MRF -0.75%63 EV-to-FCF is 10.89 as of Aug. 02, 2026, which is 197% above its 10-year median of 3.67. GuruFocus rates JSE:MRF with a GF Score™ of 63/100 and a GF Value™ of R0.99 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 447 Metals & Mining companies, Merafe Resources ranks better than 70.47% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Merafe Resources's Enterprise Value is R1,778 Mil.
Merafe Resources's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was R163 Mil. Therefore, Merafe Resources's EV-to-FCF for today is 10.89.
The historical rank and industry rank for Merafe Resources's EV-to-FCF or its related term are showing as below:
JSE:MRF'
s EV-to-FCF Range Over the Past 10 Years
Min: 0.7 Med: 3.67 Max: 51.27
Current: 9.51
During the past 13 years, the highest EV-to-FCF of Merafe Resources was 51.27. The lowest was 0.70. And the median was 3.67.
JSE:MRF's EV-to-FCF is ranked better than 70.47% of 447
companies
in the Metals & Mining industry
Industry Median: 18.75
vs JSE:MRF: 9.51
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Merafe Resources's PE Ratio (TTM) for today is calculated as:
Merafe Resources's share price for today is R1.33.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Merafe Resources's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was R0.057.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Merafe Resources EV-to-FCF Related Terms
Merafe Resources EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Merafe Resources's EV-to-FCF 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.
For the Other Industrial Metals & Mining subindustry, Merafe Resources's EV-to-FCF, along with its competitors' market caps and EV-to-FCF 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.
Merafe Resources EV-to-FCF vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Merafe Resources's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Merafe Resources's EV-to-FCF falls into.
Merafe Resources's current Enterprise Value is R1,778 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Merafe Resources's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was R163 Mil.
* 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.
Merafe Resources (JSE:MRF) has a EV-to-FCF of 10.89 as of Aug. 02, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Merafe Resources and its competitors. This is 197% above median its historical median of 3.67. Over the past decade, Merafe Resources' EV-to-FCF has ranged from 0.70 to 51.27. According to the industry distribution chart, Merafe Resources ranks #132 out of 447 companies in the Metals & Mining industry, placing it in the top 29.5%.
Is Merafe Resources' EV-to-FCF too high?
Merafe Resources' current EV-to-FCF of 10.89 is 197% above median its 10-year median of 3.67. Over the past 10 years, this metric has ranged from a low of 0.70 to a high of 51.27. The Metals & Mining industry median EV-to-FCF is 18.75. Merafe Resources' value of 10.89 is 41.9% below this industry median. Based on the distribution chart, Merafe Resources ranks #132 out of 447 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, Merafe Resources has a GF Score™ of 63/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Merafe Resources' EV-to-FCF compare to competitors?
According to the Metals & Mining industry distribution chart, Merafe Resources ranks #132 out of 447 companies for EV-to-FCF. This puts Merafe Resources in the upper half of its industry. The industry median EV-to-FCF is 18.75. Merafe Resources' value of 10.89 is 41.9% below this benchmark. Historically, Merafe Resources' own EV-to-FCF has ranged from 0.70 to 51.27 over the past decade. While the company's 10-year median is 3.67 vs. the industry median of 18.75, Merafe Resources has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for a Metals & Mining company?
The median EV-to-FCF among Metals & Mining companies is 18.75, based on 447 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Merafe Resources's current EV-to-FCF of 10.89 is 41.9% below 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 EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Merafe Resources and its competitors. For the Metals & Mining industry, the median EV-to-FCF is 18.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Merafe Resources's current EV-to-FCF is 10.89, which is 197% above median its own 10-year median of 3.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Merafe Resources stock overvalued right now?
Based on GuruFocus' analysis, Merafe Resources (JSE:MRF) is currently considered Significantly Overvalued. The stock's GF Value™ is R0.99, compared to a current price of R1.33 — trading 34.3% above its estimated fair value. The current EV-to-FCF is 10.89, which is 197% above median its 10-year median of 3.67 and 41.9% below the Metals & Mining industry median of 18.75. Merafe Resources' overall GF Score™ is 63/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Merafe Resources (JSE:MRF), the current EV-to-FCF is 10.89 as of Aug. 02, 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 Merafe Resources (JSE:MRF) Overvalued in 2026?
Based on GuruFocus' analysis, Merafe Resources stock appears to be overvalued.
The current stock price of R1.33 is trading 34.3% above its estimated GF Value™ of R0.99.
GuruFocus considers Merafe Resources to be Significantly Overvalued.
Key valuation signals for JSE:MRF:
EV-to-FCF: 10.89 (197% above median its 10-year median of 3.67)
GF Value™: R0.99 vs. price of R1.33 (34.3% above fair value)
Industry Position: 41.9% below the Metals & Mining median (#132 of 447)
No single metric tells the full story. See the JSE:MRF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Merafe Resources Ltd through its wholly-owned subsidiary, Merafe Ferrochrome and Mining Proprietary Limited, participates in chrome mining and the beneficiation of chrome ore into ferrochrome. The Glencore-Merafe Chrome Venture (Venture) operates five ferrochrome smelters, twenty-two ferrochrome furnaces, and nine mines, situated in the North-West, Limpopo, and Mpumalanga provinces of South Africa. The company has operating mines namel Marikana West; and Kroondal Gemini. The Group has one reportable segment being the mining and beneficiation of chrome ore into ferrochrome and associated minerals. Geographically, it has its presence in Africa, Americas, Asia, China, Indonesia, Other Asia, and Europe.
63GF Score
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